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China and Russia to edge closer to reducing US dollar reliance with Moscow set to launch first yuan bond

Moves by China and Russia to reduce reliance on the US dollar are set to continue at the end this year or early next year with the Ministry of Finance in Moscow likely to launch its first yuan-denominated bond.Moscow is hoping a yuan bond will lift interest by Chinese investors in Russian assets and it would also help to create benchmarks for the setting up of hedging options for roubles and yuan, sidestepping the use of the US dollar. “Currently, several banks led by Gazprombank and [China… Source link

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Global 

China imports worth US$250 billion a step closer to 30 per cent tariff as US moves ahead with Trump’s plan

The United States has early steps to increase import tariffs on US$250 billion of Chinese goods to 30 per cent from the start of October, indicating that at least for now, the Trump administration has no plans to step back from its plan to escalate further its trade war with China.The office of the US Trade Representative (USTR) on Thursday published a notice in the US Federal Register – the official record of US government administrative actions – inviting comments from stakeholders ahead of… Source link

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China 

US-China trade war escalation seen moving global recession risk closer to tipping point

The latest tit-for-tat trade tariff increases by China and the US on Friday are a further sign that a near-term resolution of the trade war is unlikely, pushing the global economy closer to tipping into a severe slowdown, with a recession in America and a sharper-than-expected slowdown in the mainland.Many analysts believe the global economy can avoid a recession next year, helped by more aggressive policy responses from the US and China that would include greater monetary easing from the US… Source link

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Investors should take a closer look at commercial property in Tokyo, Seoul and Melbourne

The prolonged low interest rate environment has created challenges for investors in deploying money in financial markets, as higher return opportunities are hard to find. However, active real estate strategies can thrive under such circumstances and should play a more prominent role in investment portfolios. Real-estate strategies can be broken down into three categories: core, value-added and opportunistic. Core strategies are relatively low risk, with returns mainly being generated by long… Source link

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Vietnam 

HCM City moves closer to setting up Information Security Centre – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  HCM CITY – The HCM City Information Security Centre will be set up at the High-tech Park in District 9, according to People’s Committee vice chairman Trần Vĩnh Tuyến. The Sài Gòn Industry Corporation has been assigned to work with High-Tech Park management to lease land for the centre, he said. The corporation has also been tasked with drafting policies to attract potential investors in the proposed HCM City Information Security Management Centre Joint Stock Company. The centre, together with the Open Data and Data Ecosystem Development Warehouse, HCM…

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Vietnam 

India, VN eye closer co-operation in chemicals, paper sectors – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Executives of Vietnamese and Indian companies exchange information at the India-Việt Nam business matching held in HCM City on Thursday. — VNS Photo HCM CITY — Though trade between India and Việt Nam in basic chemicals, cosmetics, dyes, and paper products has grown significantly, there is still huge untapped potential, the Indian consul general in HCM City has said. In his opening remarks at a business interaction event held on Thursday night, K Srikar Reddy said India’s exports of dyes and dye intermediates and basic inorganic…

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Global 

China and Russia seek closer economic ties to counter US pressure as Xi Jinping prepares to meet Vladimir Putin

The deepening of the economic alliance between Russia and China will be high on the agenda as President Xi Jinping meets Russian President Vladimir Putin in Moscow on Wednesday amid their mutual estranged relations with the United States.Xi and Putin are both then due to attend the annual St Petersburg Economic International Forum, Russia’s flagship international investor forum that expects more than 1,000 representatives from China, starting on Thursday.The US, however, is expected to miss the… Source link

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China’s bank regulators take over Baoshang Bank, moving a step closer to breaking up financier Xiao Jianhua’s business empire

China’s central bank and banking regulator have taken over control of a commercial lender linked to disgraced financier Xiao Jianhua, as the authorities take a step forward in breaking up his sprawling business empire.The management of Baoshang Bank, based in Inner Mongolia’s Baotou city, was taken over by the People’s Bank of China (PBOC) and the China Banking and Insurance Regulatory Commission (CBIRC) with immediate effect for a year to contain its credit risk, according to a Friday… Source link

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VN, Nigeria eye closer investment, trade ties – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

HCM CITY — There is great potential for trade between Việt Nam and Nigeria and investment in many sectors like agriculture, agricultural processing, garment, footwear, mining, and production of construction materials, a bilateral trade and investment forum heard in HCM City yesterday. Speaking at the forum, Nguyễn Thế Hưng, deputy director of the Việt Nam Chamber of Commerce and Industry (VCCI)’s HCM City branch, said many African countries, including Nigeria, had become increasingly important economic partners of Việt Nam. Trade between Việt Nam and Nigeria has shot up from US$250 million…

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China 

China’s central bank just moved one step closer to flinging open the floodgates of stimulus

The creation of a bond swap facility has moved China one step closer to full on quantitative easing (QE), analysts have said. The People’s Bank of China (PBOC) unveiled its bill swap mechanism on Thursday evening, the latest in its efforts to counter the double-headed assault of a trade war with the United States and a broad-based economic slowdown at home. This will allow holders to swap commercial bank perpetual debt – that is, debt without a maturity date – for central bank bills to be used for borrowing collateral.…

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