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HONG KONG (AFP): Asian investors trod carefully on Wednesday (Sept 22) but nerves appeared to be settled by news that troubled Chinese property giant Evergrande had agreed on a plan to repay interest on one of its key bonds, for now avoiding a default that many fear could hammer the domestic and global economy.
KUALA LUMPUR: The ringgit fell against the US dollar at the opening bell today, as traders await the outcome from the United States Federal Reserve (US Fed) and Bank of England (BoE) meetings this week to decide their next course of action.
SHANGHAI: China is set to leave its benchmark lending rate steady for the 17th month at its September fixing next Wednesday, a Reuters survey showed, but market participants expect more targeted liquidity measures as the economy grapples with the fallout of the Delta variant.
Swipe your bracelet, watch or even a walking stick, and you can pay for your goods with digital yuan.
BEIJING: Chinese merchants are already preparing for the cross-border usage of digital yuan, or e-CNY, at a time when some major central banks in the world have not yet decided to develop their own digital currencies.
THE ringgit started 2021 strongly at RM4.02 against the dollar. However, by end-May 2021, the ringgit had depreciated by 2.6% to 4.12, its eight-month low since October 2020.
BEIJING (Bloomberg): China’s factory-gate inflation accelerated in August to a 13-year high, with commodity prices remaining elevated despite Beijing’s battle to curb gains.
Indonesia and China implemented a local currency settlement (LCS) agreement on Monday to make trade and direct investment between the two countries more efficient.
Australia, Malaysia, Singapore join forces to test digital currencies ‘blueprint’ but US remains ‘sceptical’
The Bank for International Settlements’ project will look at allowing institutions to transact in the digital currencies (CBDCs) issued by the other central banks. China, Hong Kong, Thailand and the United Arab Emirates are working on a separate project to study the feasibility of using CBDCs for cross-border payments.
HONG KONG: State-backed firms are set to take a sizeable stake in a key Ant Group asset for the first time, three people told Reuters, in a move that will loosen the Chinese fintech giant’s grip on a data treasure trove of over one billion users but help revive its initial public offering (IPO).