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Gulf Today Report
According to official data on Sunday, China’s foreign currency reserve has declined in January due to valuation effects as the dollar recorded gains.
China has the largest foreign exchange reserves in the world, it declined to $3.211 trillion last month.
In January the US dollar climbed 0.7% against other currencies, the dollar accounted for 58% of China’s reserves in 2015.
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Chinese stocks and bonds have remained firm due to foreign inflows as China records a fast pace of economic recovery.
China held 62.64 million fine troy ounces of gold at the end of January, unchanged from December.
Robust earnings from Google-owner Alphabet and Twitter took the S&P 500 and Nasdaq indexes close to record levels on Friday, with data showing the domestic economy slowed lesser than expected in the second quarter providing support.
General Motors (GM) and Ford Motor announced their quarterly sales in China fell, albeit at a slower pace sequentially, as the US automakers were hit by a slowing economy amid the Sino-US trade war.
Bolstered by improving sales and better margins, profits for China’s industrial companies rose in May, bucking a months-long downtrend. But analysts are unsure if the modest gains can last. China’s industrial profits have been faltering for over a year
Beijing: China on Wednesday reported surprisingly weaker growth in retail sales and industrial output for April, adding pressure on Beijing to roll out more stimulus as the trade war with the United States escalates.
The partnership between the two companies is arguably one of the biggest industry developments in the pandemic aftermath in Middle East and North Africa (Mena) region.
LUXHABITAT Sotheby’s International Realty has announced that it has successfully closed the single biggest residential land sale in Jumeira Bay Island for Dhs180 million ($50 million).
China’s central bank cut key lending rates in a surprise move on Monday to revive demand as data showed the economy unexpectedly slowing in July,
Dubai Financial Market (DFM) on Monday announced that it has obtained the approval of the Securities and Commodities Authority (SCA) to allow the Dubai Gold and Commodities Exchange (DGCX)