Thailand rejects Beijing's offer to buy Yuan-class submarines without German technology

Thailand's Prime Minister, Prayut Chan-o-cha, warned in April that the proposed procurement contract with China could be cancelled if Beijing was unable to equip the engines stipulated in the original purchase agreement due to worries over missing German engines in Chinese submarines.

PBOC RAISE RESERVE REQUIREMENT RATIO FOR FOREIGN CURRENCY DEPOSITS

Highlights –

• PBOC raise reserve requirement ratio for foreign currency deposits.
• Chinese currency renminbi (RMB) remains high against the U.S. dollar.
• RMB has likely experienced some overshooting against the U.S. dollar.
• RM...

CHINA LOANS $1.5 BILLION TO PAKISTAN TO PAY THE MONEY IT OWES TO SAUDI ARABIA

Highlights –

• China loans $1.5 billion to Pakistan to pay the money it owes to Saudi Arabia.
• China has not provided the loan to Pakistan from its State Administration of Foreign Exchange.
• China and Pakistan have instead agreed to incre...

ALIBABA HITS A WINNER WITH $56.26 BILLION RECORD- BREAKING SINGLES DAY SALES

• China's biggest e-tailer Alibaba, posted mammoth collections in its yearly Singles Day deals this year.
• While Alibaba had released day by day marketing projections for each Nov. 11 every year, this year its information included Nov. 1-10 presales figures, which arrived at 3...

CHINA WORLDS LARGEST ECONOMY- BELIEVE IT OR NOT!

• China has now displaced the U.S. to become the largest economy in the world.
• Measured by the more distinguished yardstick that both the IMF and CIA now judge to be the single best metric for comparing national economies, the IMF Report shows that China’s economy is one-si...

SHARES OF ZOOM SURGE 26%: CEO ERIC YUAN GETS RICHER BY $4.2 BILLION

Eric Yuan, Chief Executive Officer of Zoom Video Communications might be one of the happiest man on this planet today. The reason behind his happiness is the shares of his virtual-meeting company jumping 26 percent to $410 in late U.S. trading that made him $4.2 billion richer. The shares of Zoom...

CHINA BIDS FAREWELL TO THE INTERNATIONAL FILM FESTIVAL ON A RESOUNDING NOTE

• China sent ecstatic signals to the world after it gave a sweet podium finish to the Shanghai International Film Festival (SIFF) on Sunday, eliminating all traces of despair for the world's second-largest film market.
• With much of the world in an accelerated grip of COVID-19...

CHINA IS READY TO SPIN THE CONCEPT OF CURRENCY

Highlights:

• China is trying to give a new spin to the concept of currency.
• China is a leading player in the world for mobile payment penetration with around 790 million people using such payments this year.
• China has already begun trials of...

DIGITAL CURRENCY EXPERIMENT OF CHINA

Highlights:

• The People’s Bank of China has started its pilot project of testing its homegrown digital currency.
• The test will take place in the cities of Shenzhen, Suzhou, Chengdu, and Xiong’an.
• The test will involve transferrin...

CHINESE MARKETS AT A LOSS WITH FALLING YUAN AND LISTLESS STIMULUS MEAURES

• China cautious to start out on rebuilding nation’s economy
• China’s financial market crumbling as compared to global peers

China does not like it one bit when their measures to bolster the economy are coming under the lens, albeit for the wrong reas...

JAPAN CAN BE NEXT TO COME UP WITH DIGITAL CURRENCY

Highlights:

• A meeting took place between the higher officials of Japan to discuss whether the country needs to adopt a digital currency.
• Japan has always remained a leader of cryptocurrencies.
• The economy of Japan might be well benefitted f...

SAFE-HAVEN YEN SLUMPED

Highlights:

• Japanese yen surged nine-month low against the U.S. dollar.
• The safe-haven currency fell by 1.3 percent on Wednesday.
• Yen traded at 111.27 against the U.S. dollar in Asia.

On Thursday, the safe-haven yen traded...

Japanese Yen Slipping On GDP Data With Chinese Yuan Rising

With Japan reporting a much deeper economic contraction than expected, the yen traded slightly lower on Monday, 17 FEB 2020 in Asia. The USD/JPY pair inched up 0.1% 109.81. The Cabinet Office reported that Japan’s GDP in the December quarter fell an annualized 6.3%, faster than the expected...

CHINA TO DESTROY PAPER-CURRENCY FROM AREAS HARD HIT BY CORONAVIRUS

Highlights:

• Paper currency collected from hospitals and buses will be targeted.
• 600 billion yuan of new banknotes circulated in the country since 17th January.
• Other notes will be disinfected and kept for 14 days away from the hands of peop...

JAPAN’S LAWMAKERS URGED GOVERNMENT TO ISSUE DIGITAL CURRENCY

Highlights:

• The lawmakers urge the Japanese government to issue Japan's digital currency.
• The group will submit its proposal to the government today.
• Japanese lawmakers also want the US to place digital currencies on G7 Agenda.

DOLLAR STRONG FOR THE THIRD CONSECUTIVE DAY

Highlights:

• The dollar stood at 98.02 against the basket of six currencies.
• Japanese yen surged by 0.2 percent and settled at 109.30 against the dollar.
• Chinese Yuan stood at 7 yuan per dollar level.

The dollar strengthene...

STOCKS ON A RISE AFTER CHINA SELL-OFF PULL UP

Highlights:

• China's stocks are stable after losing $720 billion on the day market reopens.
• Brent Crude oil future is above $50 in New York.
• Yuan is stronger by 7 per dollar.

The US and European markets advance on Tuesd...

ASIAN CURRENCIES SEIZED THE SLIDE FURTHER

Highlights:

• The Australian Dollar has slumped by 4.1 percent in January.
• The yen is steady at 109.00 per dollar while the greenback is at $1.1030 per euro.
• British Pound has surged by 0.7 percent.

On Friday, the Asian curr...

SAFE-HAVEN STEADY AS INVESTORS ASSESS VIRUS FALLOUT

Highlights:

• On Wednesday, the safe-haven currencies steadied as investors started focusing on Hong Kong shares.
• The Australian Dollar is $0.6758.
• Yuan traded flat and remained at 6.965 yuan per dollar, which accounts for the weakest in a mo...

YEN SURGE YUAN SLUMP WITH THE THREAT OF VIRUS

Highlights:

• Yen is up by 0.3 percent and settles at 109.57.
• Yuan fell to a two-week low.
• The death count from the virus has gone up by 17.

On Thursday, the Japanese currency Yen has surged whereas China’s Yuan has slumped to a two-we...