Sanctions have increased the appeal of alternatives to the dollar and euro, Russia’s central bank said, referring to China’s yuan in particular.
FINANCE
British pound is taking on ’emerging market’ characteristics, Bank of America says
Sterling is in danger of becoming an “emerging market” currency as falling growth and growing risks cause investors to flee the pound, according to Bank of America.
Test case Zambia exposes China’s rookie status on debt relief – sources
China’s lack of experience with tricky debt restructurings and slow coordination among its public lenders is holding up debt relief for Zambia, a test case for the top emerging market creditor, three …
Sea feud with China flares as Marcos prepares for presidency
The Philippine government has announced a new diplomatic protest against China over disputes in the South China Sea …
China to halve purchase tax for small-engine cars
China’s purchase tax for small-engine cars will be halved, the s Ministry of Finance said on Tuesday, in a move to boost auto sales and support an economy damaged by locked downs imposed in major…
China announces detailed stimulus measures to support virus-hit economy
The stimulus package underscores Beijing’s shift toward growth after Covid control measures pounded the economy and threaten Beijing’s 5.5% growth target for the year …
China Rushes Bond Sales to Spur COVID-Hit Economy, More Seen Needed
China’s cabinet unveiled a raft of policy measures last week to support an economy jolted by stringent COVID-19 curbs, but analysts believe more stimulus will be needed to help sustain a recovery. The …
central bank adds liquidity via reverse repos
The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 441 pips to 6.6607 against the U.S. dollar Tuesday, according to the China Foreign Exchange Trade System. In China’s …
central bank adds liquidity via reverse repos
The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 441 pips to 6.6607 against the U.S. dollar Tuesday, according to the China Foreign Exchange Trade System. In China’s …
COVID-hit Shanghai to end two-month lockdown on June 1
Shanghai on Monday announced an end to its two-month long COVID-19 lockdown, allowing the vast majority of people in China’s largest city to leave their homes and drive their cars from Wednesday.
Goldman Sachs discusses the stressors in China’s property market
Kenneth Ho of the investment bank weighs in on China’s property sector and its broader economy. Got a confidential news tip? We want to hear from you. Sign up for free newsletters and get more…
China draws from next year’s budget for local government handouts
China’s finance ministry has dipped into next year’s budget to hand over 400 billion yuan ($59.7 billion) to local governments to cover the cost of tax breaks and fee cuts designed to give businesses …
China’s Curbs on Property and Covid Have Cut Emissions – For Now
(Bloomberg) — China’s carbon emissions have posted their longest sustained drop in a decade due to Beijing’s efforts to rein in the property market, boost clean energy and control the spread …
