A customer makes payment for his purchases at a market in Beijing. Reuters
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’s central bank (CB) will use foreign exchange intervention and monetary policy tools to stop the yuan weakening past the key 7-per-dollar level in the near-term, three people familiar with the central bank’s thinking said. “At present, rest assured they will certainly not let it break 7,” a source told Reuters.
The leaders of China, France, Germany and the EU were set to meet in Paris on Tuesday for “unprecedented” talks on how to improve ties, despite growing jitters over Beijing’s massive investments in Europe.
NATIONS: Russia sent home nearly two-thirds of some 30,000 North Koreans working there during 2018 and China repatriated more than half, but did not specify a figure, according to unpublished reports by Moscow and Beijing to the United Nations Security Council.
World stock markets surged on Thursday, with the US benchmark S&P 500 hitting a record high, while the 10-year US Treasury yield fell below 2% as investors digested a signal from the Federal Reserve of potential US interest rate cuts
The Sharjah Chamber of Commerce & Industry (SCCI) held the first introductory meeting, which comprised the Construction & Engineering Consultancy Sector, Real Estate Sector and Industry Sector.
French automaker Renault, its Japanese partner Nissan Motor Co and tech giant Alphabet’s Waymo are exploring a partnership to develop and use self-driving vehicles to transport people and goods in France and Japan, the companies said on Thursday.