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Renminbi Series

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Over the past decade, China has emerged as global superpower of economics and Geo-politics. Chinese currency Yuan has emerged as top contender to Challenge global dominance of Dollar. This year in Yuan might join International Monetary Fund’s (IMF) Special Drawing Rights (SDR) basket, strengthening Yuan’s position as global reserve currency. In this series, we discuss about China, its politics, economics, and vulnerabilities with a view of Renminbi.

Renminbi Series

CNY likely to depreciate against USD and non-USD currencies

Jun 16, 2016 13:06 pm UTC| Commentary

The US Feds underlying message on Wednesday was that normalization of interest rates in the country is expected to take a longer time than anticipated previously. Meanwhile, the Bank of Japan also kept an easing bias...

Renminbi Series

China's new Yuan loans beat forecasts, show PBOC’s determination to support growth

Jun 15, 2016 15:38 pm UTC| Commentary Central Banks

Data released on Wednesday showed that Chinese banks extended 985.5 billion yuan ($149.56 billion) in new yuan loans in May, exceeding analysts expectations and well above the previous months levels. Economists polled by...

Renminbi Series

PBoC fixes Yuan to weakest since January 2011

Jun 15, 2016 07:18 am UTC| Commentary Central Banks

In the wake of stronger Dollar, the Peoples Bank of China (PBoC) has fixed Yuan exchange rate to lowest since January 2011 that shows the vulnerability of Yuan against Dollar appreciation. Onshore Yuan that is allowed to...

Renminbi Series

Depreciation in Renminbi poses concern for other Asian currencies

Jun 14, 2016 10:12 am UTC| Commentary

Depreciation in the Chinese renminbi is likely to create external headwinds for other major Asian currencies, raising export competitiveness for the Chinese economy. The RMB has continued its weakness on a...

Renminbi Series

Decline in China’s FX reserves largely due to valuation effects, don’t point to a stable CNY

Jun 07, 2016 14:06 pm UTC| Commentary Central Banks

PBoC data showed on Tuesday that Chinas foreign exchange reserves in May fell to $3.19 trillion, the lowest since December 2011. Economists polled by Reuters had predicted a fall to $3.20 trillion from $3.22 trillion at...

Renminbi Series

China’s FX reserves decline in May

Jun 07, 2016 09:08 am UTC| Commentary Central Banks

Chinas foreign exchange reserve, declined to $3.191 trillion, after rising marginally to 3.219 trillion in April. Gold reserves are down to $70.48 billion, largely due to change in value of Gold. PBoC has 58.14 million...

Renminbi Series

Moody's: Continued price growth in China's property market could attract further regulatory tightening

May 30, 2016 08:18 am UTC| Research & Analysis Real Estate

Moodys Investors Service says that rapid price growth of residential homes in Chinese cities -- and particularly in higher-tier ones -- could attract further regulatory tightening to moderate price growth. Residential...

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Economy

Beyond the spin, beyond the handouts, here’s how to get a handle on what’s really happening on budget night

Three weeks from now, some of us will be presented with a mountain of budget papers, and just about all of us will get to hear about them on radio, TV or news websites on budget night. The quickest way to find out what...

Johannesburg in a time of darkness: Ivan Vladislavić’s new memoir reminds us of the city’s fragility

Ivan Vladislavić is Johannesburgs literary linkman. He tells us, in the first pages of his new book, The Near North, that before cities were lit, first by gaslight and later electricity, people of means paid torchbearers...

Economist Chris Richardson on an ‘ugly’ inflation result and the coming budget

With Jim Chalmerss third budget on May 14, Australians will be looking for some more cost-of-living relief beyond the tax cuts although they have been warned extra measures will be modest. As this weeks consumer price...

Inflation is slowly falling, while student debt is climbing: 6 graphs that explain today’s CPI

Australias inflation rate has fallen for the fifth successive quarter, and its now less than half of what it was back in late 2022. The annual rate peaked at 7.8% in the December quarter of 2022 and is now just 3.6%, in...

The Mattei Plan: why Giorgia Meloni is looking to Africa

Since coming to power, Giorgia Melonis government has been remarkably orthodox in its foreign policy. Unwavering support for Ukraine, loyalty to the Atlantic Alliance and full participation in the European Union - these...

Politics

Labour can afford to be far more ambitious with its economic policies – voters are on board

To say that the Labour party is flying high in the polls is something of an understatement. But despite its consistent lead against the Tories, the opposition finds itself in a rather odd position: on the cusp of power but...

History for sale: what does South Africa’s struggle heritage mean after 30 years of democracy?

One of my favourite statues is the one of Nelson Mandela at the Sandton City shopping centre in Johannesburg. Larger than life, its oversized bronze shoes shimmer in the evening light, polished by the hands of many...

Sudan: civil war stretches into a second year with no end in sight

In the early hours of April 15 2023, the Rapid Support Forces (RSF) a Sudanese paramilitary force attacked the military airstrip in the town of Merowe and deployed troops across strategic locations in Sudans capital,...

Military conscription is returning to Europe, but is it really a more equal way of mobilising? What history tells us

The idea that conscription, defined as the compulsory enlistment of citizens for military service, can increase equality and instil a sense of solidarity that transcends traditional societal divides has echoed throughout...

The 50th anniversary of Portugal’s Carnation Revolution

Across Portugal, a number of photography exhibitions are currently on display that commemorate the ousting of the Estado Novo, the dictatorial, authoritarian and corporatist political regime that had ruled the country...

Science

A Nasa rover has reached a promising place to search for fossilised life on Mars

While we go about our daily lives on Earth, a nuclear-powered robot the size of a small car is trundling around Mars looking for fossils. Unlike its predecessor Curiosity, Nasas Perseverance rover is explicitly intended to...

The rising flood of space junk is a risk to us on Earth – and governments are on the hook

A piece of space junk recently crashed through the roof and floor of a mans home in Florida. Nasa later confirmed that the object had come from unwanted hardware released from the international space station. The 700g,...

Peter Higgs was one of the greats of particle physics. He transformed what we know about the building blocks of the universe

Peter Higgs, who gave his name to the subatomic particle known as the Higgs boson, has died aged 94. He was always a modest man, especially when considering that he was one of the greats of particle physics the area of...

Could a telescope ever see the beginning of time? An astronomer explains

The James Webb Space Telescope, or JWST for short, is one of the most advanced telescopes ever built. Planning for JWST began over 25 years ago, and construction efforts spanned over a decade. It was launched into space on...

US media coverage of new science less likely to mention researchers with African and East Asian names

When one Chinese national recently petitioned the U.S. Citizenship and Immigration Services to become a permanent resident, he thought his chances were pretty good. As an accomplished biologist, he figured that news...

Technology

Zeus Network Set to Launch Solana to Bitcoin Bridge in Q3 2024

Zeus Network has announced the launch of Zeus Program Library (ZPL) by Q3 2024, a pioneering bridge designed to connect and enhance asset transfer between the Solana and Bitcoin ecosystems, offering broad applications in...

Bitcoin Dips 4% Below Cost, Stirs Panic Among Short-Term Investors

In a startling decline, Bitcoin plummeted 4% below its average purchase price, sparking potential panic among short-term holders, who, according to analyst James Check, are now facing a 3% unrealized loss. Recent...

Google Axes 200 ‘Core’ Workers, Transfers Jobs to India and Mexico Amid Restructuring

Google LLC is reducing its workforce again in its latest restructuring efforts. The tech company announced it would axe at least 200 staff from its core teams. According to CNBC, this core unit is responsible for...

Analyst Sees Shiba Inu Hitting $0.00007 Despite Major Token Dump

A Shiba Inu whale recently dumped massive SHIB tokens on Coinbase, one of the worlds top cryptocurrency exchanges. The enormous volume of SHIB offloaded quickly sparked a gloomy feeling among crypto market aficionados...

Casio Joins NFT Trend with Astar zkEVM, Unveils Anniversary Collection

Casio, one of the worlds leading watch companies, has joined the battle for non-fungible tokens (NFTs) in partnership with Astars zero-knowledge Ethereum Virtual Machine. The Casio watch NFTs will go online on May...