The buying and selling year kicked off with a decline in Chinese language equities and a fall in Chinese Yuan (CNY). The news that China had allowed its forex to fall additional since the depreciation final Aug triggered additional declines in world equities. Aggravating the concerns was news that China’s foreign alternate (FX) reserves had declined by a record USD108 billion in Dec alone and by USD513 billion in 2015. Having skilled the Asian Financial Disaster (AFC) in 1997/98 the place regional currencies depreciated significantly and set off a recession and a deep bear market in equities, I began to fret whether or not there can be a repeat of AFC.
LONDON – A strike by British Airways (BA) cabin crew scheduled for this week has been called off, the airline stated Monday. Greater than eleven,000 cabin crew had threatened to go on a two-day strike from Tuesday in protest … Read more