Monday, August 26, 2024 00:31:06 GMT+0000 (Coordinated Universal Time)
After battling yuan bears, China is now keen to prevent sharp gains in its currency
After spending the entire year trying to put a floor on the yuan’s plunge, China’s central bank is suddenly facing the opposite problem and is resorting to subtle ways to prevent the currency from appreciating sharply.
Monday, August 26, 2024 00:31:10 GMT+0000 (Coordinated Universal Time)
ONGC drills new well in KG-D5 block to boost India’s energy independence
State-owned oil and gas major ONGC has added another milestone by sinking another well in its deepwater project within the Krishna Godavari KG basin.
Monday, August 26, 2024 00:31:14 GMT+0000 (Coordinated Universal Time)
Fed rate cut signal would give BOJ some breathing room in battle over weak yen
The U.S. Federal Reserve’s dovish shift will likely give the Bank of Japan some breathing room in its battle to rein in a weak yen, but could complicate its efforts to raise interest rates if the two central banks’ differing policies keep markets on edge.
At an annual symposium in Jackson Hole, Wyoming, Federal Reserve Chairman Jerome Powell said Friday “the time has come” cutting rates as rising risks to the labor market left no room for further weakness, offering explicit support for an imminent policy easing.
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