Chinese President Xi Jinping called for reform of global institutions and emphasised his government’s shared views with Brazil on international matters, including the Ukraine war, ahead of his state visit to the South American nation. In a wide-ranging opinion piece published in Brazil’s leading newspaper Folha de S. Paulo, Xi stressed the importance of increasing…
The resolution charts a new course for Hong Kong’s high-quality development, injecting significant momentum into the city’s governance and prosperity. Hong Kong already has three advantages in this regard. Hong Kong now has a safer, freer and more open society, as well as a predictable business climate, ushering in a great period for reviving the…
US Treasury Secretary Janet Yellen has met with China’s deputy central bank governor Xuan Chengneng in Washington this week to discuss coordination on financial market monitoring and money laundering. The talks this week marked a continuation of the sixth meeting of a bilateral economic working group and took place on the sidelines of the annual…
Chinese President Xi Jinping reiterated a call to achieve the country’s annual economic target, signaling a growing sense of urgency ahead of a key legislative meeting expected to approve new fiscal support for the world’s No. 2 economy. The Chinese leader told senior party officials on Tuesday to fully implement a package of existing and…
Islamabad:In a bid to address its persistent external financing issues, Pakistan has formally requested a supplementary loan of 10 billion yuan (CNY) (approximately USD 1.4 billion) from China. The announcement was made on Saturday, underscoring the fiscal pressures the nation continues to face, the Express Tribune reported. During a meeting with China’s Vice Minister of…
“It’s everywhere you want to be.” That was the tag-line of an advertising campaign launched for Visa credit cards in the 1980s. The slogan works equally well for the US dollar, despite a lot of angst over the status of the world’s main reserve currency. And that’s true even in places you might not expect—like…
US Treasury Secretary Janet Yellen and China’s deputy finance minister Liao Min met in Washington on Friday to discuss macroeconomic policy developments, including Beijing’s most ambitious stimulus measures since the coronavirus pandemic. China reported third quarter growth of 4.6 per cent, the lowest figure since the same period last year. Beijing has recently announced a…
Asia’s benchmark stock index rose, while gold touched a record high as tensions in the Middle East stoked demand for the asset as a haven. Australian stocks climbed, while Japanese equities swung between gains and losses. US futures rose after the S&P 500 notched up a sixth straight weekly increase, its longest winning streak this…
US inflation last month was a touch stronger than forecast, helping to consolidate market bets that the Federal Reserve will opt for a smaller interest-rate cut in November. In Germany, Europe’s largest economy, orders placed with manufacturers tumbled by the most since the start of the year. The UK economy returned to growth and the…
It’s 1 a.m. and Thomas Wu is riding his bike on the empty streets of Shanghai. The 43-year-old insurance executive has had another meltdown. Wu’s pay has been slashed by 20% in a nationwide push to lower salaries at state-owned finance companies. He frets about layoffs and wonders how he’ll find 600,000 yuan ($84,500) to…