A man walks past the PBOC headquarters in Beijing, China. Reuters
China’s yuan tumbled to the weaker side of the key 7-per-dollar threshold on Monday, hitting its weakest since 2008, against the backdrop of a sharp escalation in the protracted US-Sino trade war.
China’s banking and insurance regulator said on Saturday it did not expect a persistent decline in the yuan and warned speculative short sellers they would suffer “heavy losses” if they bet against the currency. The yuan has lost more than 2.5 per cent against the dollar since the festering China-US trade
China has ample policy tools to cope with yuan fluctuations and the country is able to keep the currency basically stable, a central bank vice governor said in remarks published on Thursday. The yuan fell against the dollar on Thursday to its lowest level in almost six months
China’s banks extended new yuan loans in August as policymakers ratcheted up support for the slowing economy, and further policy easing is expected in coming weeks as the Sino-US trade dispute takes a bigger toll on the economy.
Dubai Airports has announced that it will reopen Dubai’s International’s Terminal 1 and Concourse D on Thursday (June 24). The facilities were closed on March 25, 2020 following the partial suspension of operations at DXB to control the spread of COVID-19.
The interest rates charged by the Emirates Inter-Bank Offered Rate (EIBOR) jumped across all terms post the Central Bank of the UAE increased on Thursday its base rate applicable to the overnight deposit facility (ODF)
Dubai Chamber of Commerce and Industry (Dubai Chamber) has launched a new video series that showcases the impactful ways in which it will connect local and global business communities at Expo 2020 Dubai.