Saturday, October 13th, 2018

 

US draws China FX into trade dispute as IMF calls for resolution

NUSA DUA, Oct 13 — The United States sought to make currency a central part of any solution to a bruising trade fight with China, keeping the pressure on Beijing to speed up economic reforms at a gathering of world policy makers who pledged to do…


China’s central bank says market to play decisive role in yuan exchange rate

NUSA DUA, Oct 13 — China’s central bank governor Yi Gang said the government would continue to let the market play a decisive role in establishing its currency exchange rate, refraining from using it as a weapon, amid an escalating trade war…


Fed official says rate hikes ‘right course’ for US monetary policy

NUSA DUA, Oct 13 — The US Federal Reserve does consider the impact of interest rate hikes on emerging markets when setting policy, but the increases are the “right course of domestic policy” for the world’s largest economy, said a top Fed…


Value of 2018 furniture exports expected to fall slightly, says Teresa Kok

KUALA LUMPUR, 13 Oct — The value of Malaysia’s furniture exports in 2018 is expected to decline slightly to RM9-RM10 billion compared with RM10.1 billion last year, says Primary Industries Minister Teresa Kok. She said this was due to the lack…


SMEs should explore foreign markets, says minister

BATU PAHAT, Oct 13 — Bumiputera entrepreneurs, especially small and medium enterprises (SME), are encouraged to explore other markets including the digital platform and not only focus on the local market in efforts to enhance their capabilities….


China echoes IMF pledges to avoid using currency as trade war tool

NUSA DUA, Oct 13 — China’s top central banker today pledged to keep the yuan currency’s value “broadly stable,” a sign that Beijing may be trying to prevent a bruising trade dispute with the United States from spilling over into a currency…


BOJ’s Kuroda says Fed rate hikes good for global economy

NUSA DUA, Oct 13 — Bank of Japan Governor Haruhiko Kuroda said today steady interest rate hikes by the Federal Reserve were “basically good” for the world economy, shrugging off concerns that higher US rates could hurt Asian economies by…


Draghi: Italy must ‘calm down’ and stop questioning the euro

NUSA DUA (Indonesia), Oct 13 ― Italian officials must stop questioning the euro and need to “calm down” in their budget debate as they have already caused damage to firms and households, European Central Bank (ECB) President Mario Draghi said…


IMF members pledge to avoid using currencies as trade weapon

NUSA DUA (Indonesia), Oct 13 — The International Monetary Fund said today its members pledged to refrain from competitive currency devaluations and step up dialogue on trade, as escalating trade frictions and higher borrowing costs threatened to…


China views yuan depreciation not in its interest, says US treasury secretary

NUSA DUA (Indonesia), Oct 13 ― US Treasury Secretary Steven Mnuchin today said Chinese officials told him this week that a further depreciation of China's yuan currency was not in the country's interest. Mnuchin also told a news conference he was…