Saturday, August 15, 2015
Mainland China's market regulator on Friday vowed to stabilize the volatile stock market for a "number of years," saying a state-backed company tasked with buying shares will have an enduring role.
Mainland China's currency devaluation is a step in the long march to a more open regime for the yuan, analysts say, but authorities will need to further loosen their controls to promote long-term growth.
Friday, August 14, 2015
Mainland China weakened its currency for the third consecutive day Thursday, but financial markets that had been shaken by the surprise devaluation took heart as authorities pledged not to let the yuan plummet.
Even as data indicate that mainland China's economy is in a fragile state, Chinese demand for New York City real estate remains strong as developer Oceanwide Holdings Group Co. has agreed to acquire a pair of sites in Manhattan for US$390 million.
Thursday, August 13, 2015
TIANJIN, China -- Huge explosions in a warehouse district sent up massive fireballs that turned the night sky into day, killing at least 44 people and injuring hundreds in the Chinese port city of Tianjin, officials and witnesses said Thursday.
SHANGHAI - China weakened its currency for the third consecutive day Thursday, but financial markets that had been shaken by the surprise devaluation took heart as authorities pledged not to let the yuan plummet.
China cut the yuan's value against the U.S. dollar for the second consecutive day Wednesday, roiling global financial markets and driving expectations the currency could be set for further falls.
British Foreign Secretary Philip Hammond said Wednesday that an international agreement to limit Iran's nuclear program could give impetus to efforts aimed at curbing North Korea's nuclear weapons program.