It has been decided to extend a line of credit of Rs 15,000 crore to the Export-Import Bank of India (EXIM Bank) for a period of 90 days from the date of availment with rollover up to a maximum period of one year so as to enable it to avail a dollar swap facility to meet its foreign exchange requirements. … [Read more...] about COVID-19 impact: RBI announces measures to support foreign trade
China foreign exchange trade system
LONDON (Reuters) - The euro extended its gains, testing two-month highs, on Friday as traders waited for U.S. President Donald Trump’s response to China’s tightening control over Hong Kong, which could worsen tensions between the two over the financial hub. … [Read more...] about Euro tests highs before Trump’s press conference on China
For the United States, Russia is a highly imperfect partner. Its military actions in the Middle East, ongoing cyberattacks, and efforts to sow discord in America are but a few areas of concern. The U.S. must strongly defend its interests and the integrity of its institutional processes against Russian malfeasance. … [Read more...] about In a new cold war with China, America may need to befriend Russia
HONG KONG: Bankers and investors fear China's push to impose national security laws on Hong Kong threaten the city's future as an international financial centre. If it gets to that stage, Beijing's move will come at a cost for China's economy. WHY DOES CHINA NEED HONG KONG AS IT IS? China still has extensive capital controls and often intervenes in its financial markets and banking system. Hong Kong is one of the world's most open economies and one of the biggest channels for equity and debt financing. The size of Hong Kong's economy may only be the equivalent of 2.7% of mainland China's, down from 18.4% in 1997 when it reverted to Chinese rule, but the territory punches above its weight due to world-class financial and legal systems. As a gateway between China and the West, Hong Kong attracts global capital for China more efficiently than its other cities. HOW IS THAT CHANGING? Under the 'one country, two systems' formula agreed as part of Britain's handover of the territory … [Read more...] about How important is Hong Kong to China as a free finance hub?
The maritime drills, known this year as "Malabar 2017," kicked off Monday in India's Chennai and the Bay of Bengal, and mark the first time the three forces have deployed carriers to participate in regional military maneuvers. In addition to focusing on anti-submarine warfare, the U.S., India and Japan will engage in training on land involving "professional and expert exchanges" in various types of warfare and special operations. This is the second year that Japan officially joins the annual exercises, which come amid growing tensions between India and China, the latter of which has also challenged the interests of the U.S. and Japan in the Asia-Pacific and grown closer to India's greatest foe, Pakistan, an estranged U.S. ally. The Navy said the trilateral drills would strengthen naval bonds between the U.S., India and Japan. … [Read more...] about U.S. Military Trains With Japan and India, While China Courts Pakistan