Saudi Arabia said it will allow payment for the issuance and renewals of work permit-related residencies to be made on a quarterly basis instead of an annual lump sum basis, SPA reported on Tuesday, citing a cabinet meeting decision.
South Africa's rand weakened the most across emerging market currencies on Tuesday as investors stayed on sidelines on uncertainty over a $1.9 trillion U.S. stimulus plan, while the Turkish lira was supported by positive IMF economic forecast.
Stocks fell around the world on Wednesday as investors turned more cautious over stretched valuations and the economic impact of the COVID-19 pandemic, while the dollar rose on its safe-haven appeal.
By Reuters Staff
4 Min Read
SHANGHAI (Reuters) - One of China’s key short-term money rates surged to a near six-year high on Wednesday as investors worried that policymakers may be starting to shift to a tighter stance to cool gains in share prices and property markets.
FILE PHOTO: Headquarters of the People s Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason Lee
Unlike the past few years, the central bank has not been making net liquidity injections into the banking system to meet strong demand for cash heading into the long Lunar New Year holiday. In fact, it has been draining funds, catching traders by surprise.