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china appoints us-trained central banker


beijing — a u.s.-trained economist was appointed monday to succeed the longtime governor of china's central bank, zhou xiaochuan, at a time when the ruling communist party is trying to reduce financial risks and surging debt.the appointment of yi gang, a veteran deputy central banker, to head the people's bank of china was in a slate of promotions approved by china's ceremonial legislature of finance and economic officials as president xi jinping tightens control over government.also monday, the national people's congress endorsed the elevation of liu he, xi's economic adviser, to a post as vice premier, where he is expected to oversee economic reform.the ruling communist party is under pressure to control surging debt, defuse mounting trade tensions with washington and europe and make the






china appoints us-trained central banker


beijing (ap) — a u.s.-trained economist was appointed monday to succeed the longtime governor of china’s central bank, zhou xiaochuan, at a time when the ruling communist party is trying to reduce financial risks and surging debt.the appointment of yi gang, a veteran deputy central banker, to head the people’s bank of china was in a slate of promotions approved by china’s ceremonial legislature of finance and economic officials as president xi jinping tightens control over government.also monday, the national people’s congress endorsed the elevation of liu he, xi’s economic adviser, to a post as vice premier, where he is expected to oversee economic reform.the ruling communist party is under pressure to control surging debt, defuse mounting trade tensions with washington and europe and mak






china appoints us-trained central banker


beijing — a u.s.-trained economist was appointed monday to succeed the longtime governor of china's central bank, zhou xiaochuan, at a time when the ruling communist party is trying to reduce financial risks and surging debt.the elevation of yi gang, a two-decade veteran of the central bank, to head the people's bank of china was in a slate of promotions approved by china's ceremonial legislature of finance and economic officials as president xi jinping tightens control over government.also monday, the national people's congress endorsed the appointment of liu he, xi's economic adviser, to a post as vice premier, where he is expected to oversee economic reform.the party is under pressure to control surging debt, defuse mounting trade tensions with washington and europe and make the cooling






china's central banker says debt 'too high'


beijing — china's central bank governor says the country needs to control soaring corporate debt but has tried to reassure financial markets its currency will stay stable and the decline in its foreign reserves is no cause for concern.zhou xiaochuan's comments friday follow warnings china's reliance on debt-fueled growth could lead to financial problems. beijing is trying clear away debts of state companies but private sector analysts say regulators need to move faster.at a news conference, zhou said corporate debt is "too high." he said, "first of all, (the debt level of) every business, especially those with high leverage, has to be controlled."the central bank governor said the exchange rate of china's yuan should stay stable this year and the decline of its foreign reserves is normal.






in tightening credit controls, pboc chief signals policy shift


beijing—china’s central banker signaled a tighter hold on credit to avoid further fueling asset bubbles, though the bank stands ready to loosen its grip should the economy falter. speaking at an annual news conference on friday, central bank gov. zhou xiaochuan suggested a slight shift away from the largely expansionary monetary policy the people’s bank of china has followed the past few years to prop up growth. with the economy in...






china’s central banker says debt ‘too high’


beijing (ap) — china’s central bank governor says the country needs to control soaring corporate debt but has tried to reassure financial markets its currency will stay stable and the decline in its foreign reserves is no cause for concern.zhou xiaochuan’s comments friday follow warnings china’s reliance on debt-fueled growth could lead to financial problems. beijing is trying clear away debts of state companies but private sector analysts say regulators need to move faster.at a news conference, zhou said corporate debt is “too high.” he said, “first of all, (the debt level of) every business, especially those with high leverage, has to be controlled.”the central bank governor said the exchange rate of china’s yuan should stay stable this year and the decline of its foreign reserves is nor






asian markets mixed following wall street gains


beijing (ap) — asian stock markets were mixed monday following wall street’s gain and china’s appointment of a new central bank governor and other top economic officials.keeping score: the shanghai composite index rose 0.2 percent to 3,275.28 while tokyo’s nikkei 225 shed 0.9 percent to 21,483.22. hong kong’s hang seng advanced 0.4 percent to 31,618.67 and seoul’s kospi fell 0.4 percent to 2,484.41. sydney’s s&p-asx 200 added 0.2 percent to 5,963.50 while taiwan also rose. benchmarks in new zealand and southeast asia declined.wall street: energy companies, industrial firms and smaller companies gained, helping the market break a losing streak. the standard & poor’s 500 index gained 0.2 percent to 2,752.01. the dow jones industrial average added 0.3 percent to 24,946.51. the nasdaq composit






in photos: astronauts from china and europe take sea survival challenge


on aug. 14, 2017, european space agency (esa) astronauts samantha crisoforetti and matthias maurer trained with their counterparts with the china national space administration (cnsa) in yantai, china. see photos of the historic joint exercise.






central banker: china's debt 'too high,' must be controlled


beijing — china's central bank governor said friday the country needs to get soaring corporate debt under control but its economy and currency are stable and the decline in its foreign exchange reserves is no cause for concern.zhou xiaochuan's comments at a news conference held during china's national legislature follows warnings a rapid rise in debt could lead to financial trouble. beijing is trying to reduce reliance on credit and to clear away debts of state companies but private sector analysts say it needs to move faster."the leverage of non-financial enterprises in the whole society is too high," said zhou. "first of all, (debt levels of) every business, especially those with leverage that already is too high, have to be controlled."zhou gave no indication he foresaw a financial cris






central banker: china's debt 'too high,' must be controlled


beijing — china's central bank governor said friday the country needs to get soaring corporate debt under control but its economy and currency are stable and the decline in its foreign exchange reserves is no cause for concern.zhou xiaochuan's comments at a news conference held during china's national legislature follows warnings a rapid rise in debt could lead to financial trouble. beijing is trying to reduce reliance on credit and to clear away debts of state companies but private sector analysts say it needs to move faster."the leverage of non-financial enterprises in the whole society is too high," said zhou. "first of all, (debt levels of) every business, especially those with leverage that already is too high, have to be controlled."zhou gave no indication he foresaw a financial cris






taiwan appoints new premier amid tense china relations


taipei, taiwan (ap) — taiwan’s president has appointed a new premier seen as willing to reach out to rival china amid ongoing tense relations.president tsai ing-wen on tuesday named william lai to head up the government following the resignation monday of lin chuan. lin had asked to leave the post before local elections next year added an unwanted political element to his work.china cut off all contacts with tsai’s government more than a year ago after she refused to endorse beijing’s position that taiwan is chinese territory.over the past year, china has persuaded two of taiwan’s diplomatic allies to switch sides as it increases the diplomatic and economic pressure on tsai’s administration. china has refused to renounce using force to gain control over taiwan if it were deemed necessary.m






central banker: china’s debt ‘too high,’ must be controlled


beijing (ap) — china’s central bank governor said friday the country needs to get soaring corporate debt under control but its economy and currency are stable and the decline in its foreign exchange reserves is no cause for concern.zhou xiaochuan’s comments at a news conference held during china’s national legislature follows warnings a rapid rise in debt could lead to financial trouble. beijing is trying to reduce reliance on credit and to clear away debts of state companies but private sector analysts say it needs to move faster.“the leverage of non-financial enterprises in the whole society is too high,” said zhou. “first of all, (debt levels of) every business, especially those with leverage that already is too high, have to be controlled.”zhou gave no indication he foresaw a financial






china’s global currency ambitions falling flat with central banks


the chinese yuan accounted for only 1.1% of global foreign-exchange reserves last year, the latest sign that china is meeting resistance in its effort to make the yuan a global currency.a quarterly report from the international monetary fund on friday showed that central banks held $84.5 billion in yuan reserves in the fourth quarter, the first time the imf reported central bank holdings of the chinese currency.china has...






astronauts from china and europe take sea survival challenge


credit: stephane corvaja/esa on aug. 14, 2017, european space agency (esa) astronauts samantha crisoforetti and matthias maurer trained with their counterparts with the china national space administration (cnsa) in yantai, china. for the first time, non-chinese astronauts participated in this sea survival training. see photos of how this first-of-its-kind joint space exercise here.






central banker: china can be 'bolder' about market opening


beijing — china can be bolder about opening its financial markets following steps to strengthen its regulatory system and encourage use of its currency abroad, the central bank governor said friday.the comments by zhou xiaochuan, the most prominent chinese figure in global financial markets, follow government promises last year to give foreign investors more access to its state-owned banking and securities industries.the governor of the people's bank of china cited progress in developing financial regulation, improving management of financial institutions and beijing's efforts to promote use abroad of its tightly controlled currency, the yuan."now that we have entered a new stage, we can be bolder about increasing market access and a higher degree of opening to the outside world," said zho






central banker: china's debt 'too high,' must be controlled


beijing — china's central bank governor said friday the country needs to get soaring corporate debt under control but its economy and currency are stable and the decline in its foreign exchange reserves is no cause for concern.zhou xiaochuan's comments at a news conference held during china's national legislature follows warnings a rapid rise in debt could lead to financial trouble. beijing is trying to reduce reliance on credit and to clear away debts of state companies but private sector analysts say it needs to move faster."the leverage of non-financial enterprises in the whole society is too high," said zhou. "first of all, (debt levels of) every business, especially those with leverage that already is too high, have to be controlled."zhou gave no indication he foresaw a financial cris






for china’s central bank, an increasingly difficult balancing act


beijing—china’s central bank faces an increasingly tough balancing act, trying to contain asset bubbles and steady the yuan without triggering a cash crunch and stifling economic growth.the people’s bank of china has tightened its hold on credit in recent weeks, part of government efforts to rein in financial risks. the shift has pushed up short-term borrowing costs; this week the closely watched three-month interest rates at which...






zimbabwe’s new leader appoints ex-military commander who ousted mugabe as vice p


share storyby the associated pressthe associated pressharare, zimbabwe (ap) — zimbabwe’s new leader appoints ex-military commander who ousted mugabe as vice president.the associated press






why china and latin america are discussing trade now | news


growing demand from china is sustaining chile's cherry production.exports to china have allowed fruit producers to grow substantially in the regions of central to southern chile.foreign ministers from latin america and china are meeting in chile for a two-day summit focusing on trade, which is becoming crucial for the growth of both.leaders from the 33-member community of latin american and caribbean states (celac) want to make sure that relations with china go beyond its appetite for commodities.al jazeera's lucia newman reports from los lirios, chile.






china’s next economic czar: harvard-trained xi adviser


beijing (ap) — china’s next economy czar is a harvard-trained supporter of free markets who is president xi jinping’s top adviser but has no experience fighting the bureaucratic battles the post can require.liu he’s rise comes as the ruling communist party faces mounting pressure to make its cooling, state-dominated economy more productive. that will require politically fraught changes to open industries wider to private and foreign competition.on monday, the 66-year-old liu was named one of four vice premiers by china’s ceremonial legislature. no details of his duties were immediately announced but he is widely expected to have broad economic powers.as a vice premier, liu would answer to premier li keqiang, whose post traditionally is top economic official. but xi, china’s most dominant f






china thinks it has figured out online grocery shopping


in the world’s top e-commerce market, grocery shopping is one of the last frontiers. over the past 15 years, chinese e-commerce giants alibaba group holding ltd. and jd.com inc. have trained 460 million chinese to buy apparel, furniture and electronic appliances from taobao and jd mall. a weak retail environment helped propel china’s...






china’s new pboc chief promises to enact changes quickly


beijing—china’s new central-bank chief is off to a running start.fresh from his appointment as governor of the people’s bank of china, announced on monday at the annual legislative session, yi gang said “there will be a series of reform and opening-up measures” during the next three weeks.“you’ll see,” mr. yi told throngs of reporters inside...






china’s new pboc chief promises to enact changes quickly


beijing—china’s new central-bank chief is off to a running start.fresh from his appointment as governor of the people’s bank of china, announced monday at the annual legislative session, yi gang said “there will be a series of reform and opening-up measures” during the next three weeks.“you’ll see,” mr. yi told throngs of reporters who besieged...






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saudi anti-corruption purge: all the latest updates | saudi arabia news


november 4, saudi arabia began a new "anti-corruption" purge. here are the latest developments since:gcc stock markets tank. total market capitalisation for the region has fallen to its lowest level since 2016, as per bloomberg's data published on friday.king salman appoints more judges. saudi arabia's king issued a royal order on thursday to appoint and promote 50 judges at the board of grievances, the state news agency spa said.   tillerson speaks to al-jubeir. us secretary of state rex tillerson has spoken to saudi foreign minister adel al jubeir about the situation in saudi arabia, us state department spokeswoman heather nauert said on thursday.seven released without charge. saudi arabia's attorney general saud al-mojeb said in a statement on thursday that seven people were released wi






china thinks it has figured out online grocery shopping


in the world’s top e-commerce market, grocery shopping is one of the last frontiers. over the past 15 years, chinese e-commerce giants alibaba group holding and jd.com have trained 460 million chinese to buy apparel, furniture and electronic appliances from taobao and jd mall. a weak retail environment helped propel china’s e-commerce...






china’s central bank raises market rates hours after fed move


beijing—china’s central bank followed a u.s. interest-rate increase with one of its own to blunt the effect of the federal reserve move on the chinese economy, which cooled further in november.the people’s bank of china on thursday raised two key short-term interest rates, hours after the u.s. fed’s third interest-rate increase this year. economists say they expect the world’s second-largest economy to feel more pains of soaring funding costs in 2018. fed officials have penciled in three quarter-point rate increases for the...






saudi anti-corruption purge: all the latest updates | saudi arabia news


here are the latest developments since saudi arabia began a new "anti-corruption" purge:gcc stock markets tank. total market capitalisation for the region has fallen to its lowest level since 2016, as per bloomberg's data published on friday.king salman appoints more judges. saudi arabia's king issued a royal order on thursday to appoint and promote 50 judges at the board of grievances, the state news agency spa said.   tillerson speaks to al-jubeir. us secretary of state rex tillerson has spoken to saudi foreign minister adel al-jubeir about the situation in saudi arabia, us state department spokeswoman heather nauert said on thursday.seven released without charge. saudi arabia's attorney general saud al-mojeb said in a statement on thursday that seven people were released without charge,






china invites foreign doctors to treat dissident liu xiaobo


beijing—china responded to international calls to let cancer-stricken nobel peace prize laureate liu xiaobo seek treatment abroad by inviting foreign doctors to come help treat him in china.china has attempted to head off any criticism around the treatment of mr. liu, a central pro-democracy figure who was serving an 11-year prison sentence for subversion. according to his lawyers and the shenyang bureau of justice, he was released...






taiwan appoints new premier amid tense china relations


taipei, taiwan — taiwan's president on tuesday appointed a new premier seen as willing to reach out to rival china amid ongoing tense relations between the two sides.president tsai ing-wen on tuesday named william lai to head up the government following the resignation monday of lin chuan. lin had asked to leave the post before local elections next year added an unwanted political element to his work.the smooth transfer of office "represents that there is absolutely no problem with the communication and handing over of the functions within the cabinet," tsai told reporters at a news conference attended by both lin and"all the reform projects will be handed over and carried on," tsai said.lai, a 57-year-old physician, served for 11 years in the legislature and since 2010 has been mayor of t






google and intel beware: china is gunning for dominance in ai chips


the silicon part of silicon valley needs to watch out. competitors in china think it’s finally their turn to shine. as the world’s largest market for semiconductors, china has tried mightily—without much success—to challenge the dominance of intel and qualcomm in making central processing units, the brains of computers and smartphones. now,...






google and intel beware: china is gunning for dominance in ai chips


the silicon part of silicon valley needs to watch out. competitors in china think it’s finally their turn to shine. as the world’s largest market for semiconductors, china has tried mightily—without much success—to challenge the dominance of intel corp. and qualcomm inc. in making central processing units, the brains of computers and smartphones. now,...






gas leak in coal mine in central china kills 18 miners


beijing — a gas leak in a coal mine in central china has killed 18 people, local authorities said monday.the leak happened on sunday morning when miners were working in the shaft of the mine in youxian county in hunan province, according to a statement from the propaganda department of the communist party committee of zhuzhou city, which administers the area.rescuers managed to bring to safety 37 miners who are receiving hospital treatment, it said.the official xinhua news agency said that police had detained unspecified people pending an investigation.china is the world's largest producer and consumer of coal. its mining industry has long been one of the world's deadliest, with hundreds of deaths annually, even as china has tried to improve standards by shutting older, smaller mines.






why china is secretly manipulating currency to make the yuan stronger


since he took office, president trump has greatly toned down his campaign rhetoric calling china a “currency manipulator.” he gave his reason for the shift in a tweet on april 16, 2017: “why would i call china a currency manipulator when they are working with us on the north korean problem? we will see what happens!”since then, north korea conducted four more missile tests, so the north korea problem isn’t improved, and china’s central bank has quietly intervened in the currency market—not by making the yuan weaker but by making it stronger. as a matter of fact, the yuan recently surged to its highest level against the u.s. dollar in six months. china’s central bank’s move to make the yuan stronger seems to contradict the traditional belief that china has been intentionally making its curr






clayton kershaw won't pitch in world baseball cl ic


the dodgers’ owners are interested in selling a small share of the team and have retained an investment banker to solicit bids.there is no timetable for a possible sale, said the banker, sal galatioto. he added that mark walter would remain the dodgers’ controlling owner, with his partners from... (bill shaikin)






taiwan appoints new premier amid tense china relations


taipei, taiwan — taiwan's president on tuesday appointed a new premier seen as willing to reach out to rival china amid ongoing tense relations between the two sides.president tsai ing-wen named william lai to head up the government following the resignation monday of lin chuan. lin had asked to leave the post before local elections next year added an unwanted political element to his work.the smooth transfer of office "represents that there is absolutely no problem with the communication and handing over of the functions within the cabinet," tsai told reporters at a news conference attended by both lin and lai."all the reform projects will be handed over and carried on," tsai said.lai, a 57-year-old harvard-educated physician, served for 11 years in the legislature and since 2010 has been






washington state sues trump over immigration order


washington state's attorney general says he is suing president donald trump over an executive order that suspended immigration from seven countries with majority-muslim populations and sparked nationwide protests. attorney general bob ferguson announced his lawsuit monday, becoming the first state attorney general to announce a legal action against the trump administration over one of its policies. trump signed an executive order friday that suspends all immigration for citizens of the seven countries for 90 days. ferguson was one of 16 state attorneys general who released a statement sunday calling trump's immigration action “un-american and unlawful.” trump's order sparked large protests around the country over the weekend. trump has repeatedly said that the move is aimed at protec