The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 176 pips to 6.8982 against the U.S. dollar Tuesday, according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent fromContinue Reading
The surge in wholesale energy prices is quickly feeding into consumer costs across Europe. Analysts warn the shock could extend beyond household energy bills if the conflict drags on. A sharp rise in oil and gas prices amid escalating tensions in the Middle East and fears that the Israel-UnitedContinue Reading
The strikes launched by the United States and Israel against Iran have triggered a sharp spike in global oil prices, thereby sending shockwaves across the share market and adding to global economic instability. U.S. crude oil prices surged rapidly over the 100-U.S.-dollar threshold in the wake of rounds ofContinue Reading
China will remain the most stable engine of the global economy, Chinese Foreign Minister Wang Yi said on Sunday. Over the past five years, China’s economy has grown at an average annual rate of 5.4 percent, accounting for around 30 percent of global growth, greater than the contribution of theContinue Reading
By our Correspondent The Federal Government has advanced its tax reform agenda with the introduction of new Presumptive Tax Regulations, designed to formalize Nigeria’s large informal sector and enhance transparency in revenue administration. According to a statement by Joseph Tegbe, Chairman of the National Tax Policy Implementation Committee (NTPIC),Continue Reading
Speaking at a press conference on the economy during the fourth session of the 14th National People’s Congress, Finance Minister Lan Fo’an said three key fiscal indicators will all reach new highs this year. He said total government spending will exceed 30 trillion yuan ($4.35 trillion) for the firstContinue Reading
Following the U.S.-Israeli military strikes against Iran that began on Saturday, global attention has turned to the Strait of Hormuz, particularly after Iran warned it could disrupt transit through this vital waterway in retaliation, sending shockwaves through international markets. What makes the strait so vital? Has this critical passagewayContinue Reading
QatarEnergy has suspended liquefied natural gas (LNG) production following a drone attack, straining the global LNG market. On Monday, Iranian drones struck two sites, according to Qatar’s Ministry of Defence: a water tank at a power plant in Mesaieed Industrial City and an energy facility in Ras Laffan belongingContinue Reading
The Chinese economy has demonstrated remarkable resilience, said an official at the International Monetary Fund (IMF). Despite domestic challenges and volatile external environment, the Chinese economy has demonstrated resilience, supported by both a global AI boom and proactive government policies, Thomas Helbling, deputy director of the IMF’s Asia andContinue Reading
China’s export control measures targeting certain Japanese entities aim to stop Japan’s remilitarization and its attempts to possess nuclear weapons, and are entirely justified, reasonable and lawful, a spokesperson for the Chinese Ministry of Commerce said on Thursday. Spokesperson He Yongqian made the remarks at a regular press briefing whenContinue Reading
