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BEIJING: China will not repeat Japan's mistake of the 1980s and let its exchange rate surge in response to foreign pressure, Li Daokui, an adviser to the People's Bank of China, said on Sunday.
PETALING JAYA: The recent rally in crude oil prices, partly due to the tension in Egypt, may put pressure on global inflation. Nymex crude oil hit US$92.08 a barrel yesterday afternoon, the highest since October 2008, while the Brent crude oil peaked above US$100 per barrel for the second day in two years yesterday.
PETALING JAYA: Malayan Banking Bhd (Maybank) should not spring any surprise when it reports its third-quarter results for the period ended Sept 30 this Friday with analysts expecting its net interest margin (NIM) to remain under pressure.
China will step up efforts this year to ease upward pressure on the yuan, including allowing companies to retain more hard currency and invest more overseas, the country's top foreign exchange official was quoted yesterday as saying.
THE US dollar continues to face heavy selling pressure as negative factors such as the confirmation of the first mad cow disease case in America and threats of terrorism over the holiday season overshadow strong growth numbers that signal economic recovery could finally be gaining momentum there.