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CHINA’S REGULATORS STRUGGLE TO SWAY COMPANIES ON CURRENCY RISK

China’s financial regulators are cajoling companies to protect themselves against currency risks as the central bank gradually loosens its reins on the yuan, but are struggling to convince local businesses to hedge. Senior regulators have used every public occasion to stress the importance of...

2021-06-22 00:00:00

THE WORLD’S FINANCIAL CENTERS STRUGGLE BACK TO THE OFFICE

  The journey back to your desk is shaping up to be slow and indirect. Roughly 15 months after locking down to ward off Covid-19, several of the globe’s key financial centers are struggling to get employees back to their offices. Workplace activity in London, New York and San Fran...

2021-06-22 00:00:00

BRENT OIL EDGES ABOVE $75 AS INVESTORS ASSESS TIGHTENING MARKET

  With all eyes on the U.S. central bank this week, some investors are looking to a parade of Federal Reserve speakers to calm market volatility, saying the reaction to the Fed’s June meeting was too extreme. The Fed last week signaled a potentially tougher stance on inflation and shift...

2021-06-22 00:00:00

G7 RIVALS CHINA WITH GRAND INFRASTRUCTURE PLAN

  The Group of Seven richest democracies sought on Saturday to counter China’s growing influence by offering developing nations an infrastructure plan that could rival President Xi Jinping’s multi-trillion-dollar Belt and Road initiative. The G7, whose leaders are meeting in south...

2021-06-14 00:00:00

ECB SAID TO DIFFER ON BOND-BUYING NEED IN THIN SUMMER MARKET

      European Central Bank policy makers differed in their Thursday meeting over how much bond-buying would be needed when liquidity in financial markets is thinner during the summer, according to officials familiar with the debate.   The Governing Council session also saw...

2021-06-14 00:00:00

IRAQ SEES OIL PRICES AT $68 TO $75 A BARREL IN 2ND HALF

Iraq, OPEC’s second-biggest oil producer, said crude prices will be in the range of $68 to $75 a barrel in the second half.   The price range is expected because of a commitment to OPEC+ output cut, Iraq’s Oil Minister Ihsan Abdul Jabbar told reporters at the Baghdad International...

2021-06-14 00:00:00

IMF EYES NEW TRUST TO PROVIDE AID TO BROADER GROUP OF COUNTRIES-GEORGIEVA

      The International Monetary Fund is exploring creation of a new trust that could allow its members to lend their IMF reserves to more countries, including middle-income countries vulnerable to climate change, IMF chief Kristalina Georgieva said on Sunday.   Georgieva sa...

2021-06-14 00:00:00

WHAT CHINA’S ‘MARKET MAOISTS’ TELL US ABOUT TRADE TENSIONS TODAY

      China’s Communist Party celebrates its 100th anniversary next month, a chance for it to reinforce to a domestic audience how the party transformed the country into the world’s second-largest economy and major world power since taking control in 1949.   In c...

2021-06-14 00:00:00

EGYPT SIGNS 1.7 BLN EUROS OF FINANCING DEALS WITH FRANCE

      Egypt has signed 1.7 billion euros ($2.06 billion) worth of deals with France to finance projects in the transportation, infrastructure, electricity and wholesale sectors, the cabinet said on Sunday.   Of that financing, 776 million euros will come from the French gove...

2021-06-14 00:00:00

LAGARDE SAYS ECB NEEDS TO ‘REALLY ANCHOR’ ECONOMIC RECOVERY

      The European Central Bank and euro-area governments shouldn’t remove support from the region’s economy before seeing clear signs that a recovery is underway, President Christine Lagarde said.   “We have to take the economy through the pandemic and int...

2021-06-14 00:00:00

Currency Exchange Rates

currency sell buy
USD 596 596.5
GBP 826.36 829
SAR 157.4 157.8
EUR 702.77 705

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