Hobbled by the impact of sanctions against founding shareholder Russia, the New Development Bank (NDB) set up by the BRICS countries needs to increase its local currency fundraising and lending, South Africa’s finance minister told…
FINANCE
Marketmind: No Respite From China Woes
Over in Asia, investors remained worried about China’s post- pandemic stuttering recovery after data on Wednesday showed it tipped into deflation. MSCI’s broadest index of Asia-Pacific shares outside …
China’s July new yuan loans seen dipping after record H1 – Reuters poll
China’s new yuan loans are expected to fall sharply in July from June after record lending in the first half, a Reuters poll showed, but they could still exceed the year-earlier amount as the central…
Biden to ban US firms from investing in China tech companies over security fears: report
US-based private equity and venture capital firms will reportedly face restrictions in investing in Chinese AI, quantum computing, and semiconductors.
China’s Country Garden misses interest payments, bonds fall, raising fresh fears for property sector
China’s biggest property developer, Country Garden, defaulted on interest payments on dollar-denominated debt with a face value of $1 billion.
Critical Inflation Data Ahead, Credit Card Debt Hits $1 Trillion, China Enters Deflation
Chinese exports fell by 14.5% year-over-year vs. 12.5% consensus. Exports to the U.S. fell by 23%. Exports to the E.U. and the Association of Southeast Asian Nations fell by 21%. These are the biggest …
China Renaissance Says Detained Chairman Cooperating With Authorities in Probe
The company said that business and operations are continuing normally under the supervision of its Executive Committee, which includes Executive Directors Xie Yi Jing and Wang Lixing. Copyright 2023 …
The real-estate empire helmed by one of China’s richest women is weeks away from a $199 collapse that could dwarf Evergrande
This aerial photo taken on October 31, 2021 shows buildings of China’s developer Country Garden Holdings in Zhenjiang, in China’s eastern Jiangsu province. STR/AFP via Getty Images A debt crisis that …
US dollar dips as China deflation pulls investors into risk assets
The U.S. dollar fell on Wednesday after data showed the Chinese economy slipped into deflation last month, which raised the chances of China launching additional stimulus measures and nudged investors …
Death Toll in Recent Beijing Flooding Rises to 33, With 18 Still Missing
Residents wash their suitcase and belongings on a damaged bank of a canal clogged with flood debris in the aftermath of flood waters from an overflowing river in the Mentougou district on the …
Beijing’s top diplomat Wang Yi to visit Asean members amid South China Sea tensions
Foreign Minister Wang Yi will travel to Singapore, Malaysia and Cambodia on a trip aimed at boosting ‘strategic communication’.
Dollar retreats after China deflation unleashes drive into risk assets
Dollar selling by state-owned Chinese banks helped the yuan rally off a one-month low even as the country slipped into deflation, dealers said. The Chinese central bank’s stronger-than-expected …
Dollar eases as China deflation lures investors into risk assets
The dollar eased on Wednesday after data showed the Chinese economy slipped into deflation last month, which upped the chances for the government to roll out extra stimulus measures and nudged …
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