Monday, August 20News That Matters

Tag: Economic News (3rd Party)

China, Malaysia sign MOU on bilateral currency swap agreement: Reuters witness

China, Malaysia sign MOU on bilateral currency swap agreement: Reuters witness

World News
BEIJING (Reuters) - China and Malaysia signed a memorandum of understanding on a bilateral currency swap agreement on Monday, as part of Malaysian Prime Minister Mahathir Mohamad’s visit to China. Malaysian Prime Minister Mahathir Mohamad (L) and China's Premier Li Keqiang attend a welcome ceremony at the Great Hall of the People in Beijing, China August 20, 2018. REUTERS/Jason LeeReporting by Philip Wen; Writing by Ryan WooOur Standards:The Thomson Reuters Trust Principles.Let's block ads! (Why?) Source link
China’s Premier Li says willing to push bilateral ties with Malaysia

China’s Premier Li says willing to push bilateral ties with Malaysia

World News
BEIJING (Reuters) - China’s Premier Li Keqiang said on Monday his government is willing to promote bilateral ties and economic cooperation with Malaysia as Malaysian Prime Minister Mahathir Mohamad visited China to discuss trade and investment. Malaysian Prime Minister Mahathir Mohamad (L) and China's Premier Li Keqiang attend a welcome ceremony at the Great Hall of the People in Beijing, China August 20, 2018. REUTERS/Jason LeeMahathir is seeking to renegotiate, and perhaps cancel, billions of dollars worth of Chinese-invested projects entangled in domestic graft probes. Ties have been strained since a stunning election victory returned Mahathir to power in May and he then suspended unpopular Chinese projects authorized by former premier Najib Razak. Reporting by Philip Wen; Writing by
Turkey’s Erdogan says to challenge ‘games’ on the economy

Turkey’s Erdogan says to challenge ‘games’ on the economy

World News
ANKARA (Reuters) - A day after two major ratings agencies downgraded Turkey closer to junk status amid a currency crisis, Turkish President Tayyip Erdogan said he would challenge those playing “games” on the economy. People withdraw money from a bank ATM in Izmir, Turkey August 18, 2018. REUTERS/Osman OrsalBoth Moody’s and Standard & Poor’s ratings agencies cut Turkey’s sovereign credit ratings deeper into “junk” territory late on Friday. Standard & Poor’s cited extreme lira volatility and forecasted a recession next year. The rating agency downgraded the rating by one notch to B+ from BB- and kept Turkey’s outlook at stable in a move which came after the lira lost some 40 percent of its value against the dollar this year. “Today some people are trying to threaten us through the econom
Former cricketer Imran Khan sworn-in as Pakistan’s prime minister

Former cricketer Imran Khan sworn-in as Pakistan’s prime minister

World News
ISLAMABAD (Reuters) - Former cricket star Imran Khan was sworn in as prime minister of Pakistan on Saturday, taking on the challenge of forming a coalition to govern as a currency crisis looms over the turbulent, nuclear-armed South Asian country. A man looks at a television screen displaying cricketer-turned-politician Imran Khan swearing in as Prime Minister of Pakistan, in Karachi, Pakistan August 18, 2018. REUTERS/Akhtar SoomroKhan, a firebrand nationalist, won a general election last month promising to fight corruption and drastically reduce poverty among Pakistan’s 208 million mostly-Muslim people. Wearing a traditional black sherwani coat, in the style of his hero and Pakistan founder Muhammad Ali Jinnah, Khan recited the oath of office and vowed to respect the constitution. “I
Chinese President Xi to visit North Korea next month: Straits Times

Chinese President Xi to visit North Korea next month: Straits Times

World News
SHANGHAI (Reuters) - Chinese President Xi Jinping is set to visit Pyongyang next month at the invitation of North Korea leader Kim Jong Un to attend the celebrations of the 70th anniversary of North Korea’s founding, Singapore’s Straits Times newspaper reported. China's President Xi Jinping looks on during the BRICS Summit in Johannesburg, South Africa, July 26, 2018. Gulshan Khan/Pool via REUTERSIt will be the Chinese leader’s first visit to the North Korean capital since he took power in 2012, and 13 years after the last visit by a Chinese President, when Xi’s predecessor Hu Jintao visited in 2005, the newspaper said on Saturday. The Straits Times did not say where it obtained the information and the Chinese foreign ministry did not immediately respond to a request for comment. Nort
S&P lowers Turkey’s credit rating deeper into junk territory

S&P lowers Turkey’s credit rating deeper into junk territory

World News
ISTANBUL (Reuters) - Standard & Poor’s said on Friday it had cut Turkey’s sovereign credit rating deeper into “junk” territory, citing extreme lira volatility and forecasting a recession next year, adding to the country’s woes as it deals with a currency crisis. Turkish lira banknotes are seen in this picture illustration in Istanbul, Turkey August 14, 2018. REUTERS/Murad Sezer/IllustrationThe rating agency downgraded the rating by one notch to B+ from BB- and kept Turkey’s outlook at stable in a move which came after the lira lost some 40 percent of its value against the dollar this year. “The downgrade reflects our expectation that the extreme volatility of the Turkish lira and the resulting projected sharp balance of payments adjustment will undermine Turkey’s economy. We forecast a
Leftists rattle rand with plan to nationalize South Africa’s central bank

Leftists rattle rand with plan to nationalize South Africa’s central bank

World News
JOHANNESBURG/CAPE TOWN (Reuters) - Opposition firebrand Julius Malema introduced a bill to nationalize South Africa’s central bank, putting pressure on the ruling ANC to go through with a plan it shelved this year and rattling markets wary of threats to the bank’s independence. FILE PHOTO: Julius Malema, leader of the opposition Economic Freedom Fighters (EFF) party, speaks during a media briefing at Parliament in Cape Town, South Africa, February 12, 2018. REUTERS/Sumaya Hisham/File PhotoThe rand fell more than 1 percent overnight after parliament released details on the bill late on Thursday, including clauses to “make the state the sole holder of the shares in the bank” and “provide for the appointment of certain board directors by the (finance) minister”. The South African Reserve B
London mayor Khan consults disaster planners over no-deal Brexit

London mayor Khan consults disaster planners over no-deal Brexit

World News
LONDON (Reuters) - London’s mayor Sadiq Khan said on Friday he had asked the organisation that deals with militant attacks and disasters in the British capital to assess the impact of a “no-deal” Brexit on access to medicines and food and on law and order. FILE PHOTO: Sadiq Khan, Mayor of London, looks at the #LondonUnited memorial at City Hall, marking the anniversaries of the four terror attacks in London in 2017 in London, Britain March 22, 2018. REUTERS/Simon DawsonKhan said he would consult the London Resilience Forum, which plans responses to disasters such as the Grenfell Tower Fire, about the implications for Britain of crashing out of the European Union without a deal, saying that such a “catastrophic” outcome looked more likely than ever. Britain is due to leave the EU in