Chinese yuan weakens to 6.7451 against USD Tuesday
BEIJING, — The central parity rate of the Chinese currency renminbi, or the yuan, weakened 4 pips to 6.7451 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 from the central parity rate each…
China’s Daqing Oilfield sees rising natural gas output
YINCHUAN,– Northwest China’s Ningxia Hui Autonomous Region has achieved robust economic growth since 2012, local authorities told a press briefing Monday. Over the past decade, the region’s gross domestic product grew at an average annual rate of 7.1 percent, and per capita GDP nearly doubled. Industries such as coal chemicals, new energy and new materials…
China’s Ningxia achieves robust GDP growth
YINCHUAN,– Northwest China’s Ningxia Hui Autonomous Region has achieved robust economic growth since 2012, local authorities told a press briefing Monday. Over the past decade, the region’s gross domestic product grew at an average annual rate of 7.1 percent, and per capita GDP nearly doubled. Industries such as coal chemicals, new energy and new materials…
CommSec Morning Report Tuesday July 19, 2022
Latest news In US economic data, the National Association of Home Builders index fell from +67 points to +55 points in July (survey: +65), the lowest reading since May 2020. European sharemarkets rose on Monday but finished off session highs. Russia’s Gazprom declared force majeure (failure to deliver supplies due to ‘extraordinary’ circumstances) on some…
Evening report Monday
A strong rally in the mining sector helped the Aussie market start the week on a bright note, with the ASX 200 up 81.5pts or 1.23 per cent, to 6687.1. Eight sectors finished higher, with resources doing most of the heavy lifting. The materials and energy sectors both posted gains of 2.4 per cent and…
Former Sydney financial adviser sentenced
Keith James Flowers, formerly known as Nigel Flowers, of Bathurst, New South Wales, has been sentenced to three years and two months imprisonment, to be served by way of intensive correction order, and fined $9500 for acting dishonestly as a company director and stealing investor funds. Between 1991 and 2012, Mr Flowers was the founder…
Interbank gold prices lower on Monday
China’s benchmark prices for spot interbank gold transactions were lower Monday, according to the China Foreign Exchange Trade System. The benchmark price for gold of 99.95 percent pure or above stood at 372.02 yuan (about 55.16 U.S. dollars) per gram, down 5.98 yuan from the previous trading day, while that for gold of 99.99 percent…
China’s economy amid headwinds
China’s economy secured positive growth against all the odds in the second quarter and expanded 2.5 percent year on year in the first half of 2022, showing resilience and potential amid headwinds. Due to the increasingly complex, grave situation abroad and Omicron flare-ups at home, major economic indicators fell sharply in April, a rare scene…
Asia’s first professional cargo hub airport put into operation
A Boeing 767-300 cargo plane took off from the Ezhou Huahu Airport in central China’s Hubei Province at 11:36 a.m. Sunday, marking the official start of operations of China’s first professional cargo hub airport. Located in the city of Ezhou, it is also the first professional cargo hub airport in Asia and the fourth of…
CommSec morning report Monday
In US economic data, retail sales rose by 1.0% in June (survey: +0.9%). Industrial production fell by 0.2% in June (survey: +0.1%). Export prices rose by 0.7% in June (survey: +1.2%) with import prices up 0.2% (survey: +0.7%). The preliminary University of Michigan consumer sentiment index was 51.1 in July (survey: 50). The New York…
