Home Topics Yuan

Yuan

N33 billion fraud: House of Reps lied over embezzlement of funds – NEMA

The National Emergency Management Agency, NEMA, has insisted that the House of Representatives lied in the report of its committee on Emergency and Disaster Preparedness, which indicted the agency of violation of public trust in the disbursement of over N33bn emergency intervention fund.
China's President Xi Jinping (R) meets former US secretary of state Henry Kissinger at the Great Hall of the People in Beijing on November 8, 2018. (Photo by THOMAS PETER - POOL - AFP)

China’s exports hold up despite US tariffs

China's exports to the United States and the rest of the world saw a surprise jump in October, data showed Thursday, suggesting businesses are ramping up trans-Pacific shipments before higher tariffs kick in.

Central bank injects $337.16 million, 56.17 million CNY into forex market

The Central Bank of Nigeria (CBN) on Friday said it injected 337.16 million dollars in the retail Secondary Market Intervention Sales (SMIS) in its first intervention in the inter-bank foreign market for November.
China's Yuan

China’s yuan hits decade low over trade fears

The Chinese yuan weakened to a decade low on Tuesday on concerns over China’s slowing economy and the US trade war, but Beijing was expected to prevent it breaking the psychologically important seven yuan per dollar barrier.

Official: China stabilises yuan, cope with external risks

China’s healthy economic fundamentals and ample foreign currency reserves will help keep the yuan stable, Pan Gongsheng, a vice governor at the People’s Bank of China, said on Friday.
A pedestrian walks past a stock indicator board for the Tokyo Stock Exchange being displayed in a window of a securities company in Tokyo on October 1, 2018. - Japanese shares powered to a new 27-year high on October 1 after the US and Canada clinched a long-awaited trade deal, but other Asian equity markets struggled in subdued holiday trading. (Photo by Martin BUREAU / AFP)

Asia stocks struggle as global woes persist

Asian stocks edged lower on Wednesday as concerns, ranging from worries about U.S. corporate earnings to Middle East tensions, weighed on sentiment while crude oil approached two-month lows after Saudi Arabia flagged possible supply increases.
(FILES) This file photo taken on February 9, 2017 shows Chinese 100 yuan notes in Beijing. The Chinese currency continued its sharp decline on July 20, 2018 despite US President Donald Trump's bid to rein in the dollar, as analysts pointed out that a weaker yuan aids Beijing in its trade tussle with Washington. / AFP PHOTO / FRED DUFOUR

China’s economic growth hits nine-year low

China's economic growth has slowed down to 6.5 percent in the third quarter - the slowest quaterly growth since 2009 - as a campaign to tackle mounting debt, and trade frictions with the US take their toll.
President Donald Trump speaks during his meeting to discuss potential damage from Hurricane Michael, in the Oval Office of the White House in Washington, Wednesday, Oct. 10, 2018. (Pablo Martinez Monsivais-Associated Press)

China defies Donald Trump tariffs, trade surplus soars

China’s trade surplus with the United States ballooned to a record $34.1 billion in September, despite a raft of US tariffs, official data showed Friday, adding fuel to the fire of a worsening trade war.

Central bank injects $210 million into foreign exchange market

The Central Bank of Nigeria (CBN) has sustained its intervention in the Inter-Bank Foreign Exchange Market by injecting 210 million dollars into the various segments of the market.
FILE PHOTO- Industrial and Commercial Bank of China Ltd (ICBC)'s logo is seen at its headquarters in Beijing, China, March 30, 2016. REUTERS-Kim Kyung-Hoon-File Photo

Chinese banks post solid profits but US trade war a risk

Chinese banking giant ICBC, the world's biggest bank by assets, posted solid profit growth for the first half of the year Thursday but warned that the US-China trade war could pose risks.

Dollar dented by Donald Trump’s Fed comments

The dollar fell versus the euro and pound Tuesday after US President Donald Trump hit out at the Federal Reserve’s interest rate rises, accusing it of not backing his economic plan, while most equity markets climbed looking ahead to China-US trade talks.

Police nab suspects after $87 million cryptocurrency theft

Chinese police have arrested three suspects alleged to have stolen assets worth 600 million yuan ($87m) through hacking, state media reported Sunday, as cyber criminals target holders of bitcoin and other virtual currencies.
China's Yuan

CBN Yuan auction estimated at N3.6 billion

The Central Bank of Nigeria (CBN) has estimated its first auction of the Chinese Yuan Renminbi (CNY) at N3.6 billion, an exchange rate between N49 and N51 per Yuan.

IMF says dollar over-valued

The International Monetary Fund said on Tuesday that the U.S. dollar was over-valued, and that the value could add to growth risks and trade tensions.
Central Bank of Nigeria - CBN

Central bank begins sale of Chinese Yuan

The Central Bank of Nigeria on Friday, commenced its intervention in the sale of foreign exchange in Chinese Yuan.
(FILES) This file photo taken on February 9, 2017 shows Chinese 100 yuan notes in Beijing. The Chinese currency continued its sharp decline on July 20, 2018 despite US President Donald Trump's bid to rein in the dollar, as analysts pointed out that a weaker yuan aids Beijing in its trade tussle with Washington. / AFP PHOTO / FRED DUFOUR

Asia markets rally as China’s yuan defies Donald Trump dollar warning

Asian markets advanced Friday, with Shanghai gaining two percent as China's weak yuan currency defied US President Donald Trump's criticism of a strong dollar and Fed rate hikes.
Vatti Corp

China firm to refund $12 million after France World Cup win

A Chinese kitchen appliance maker is paying out up to 79 million yuan ($12 million) in refunds to its customers.
Online Betting

Over 540 arrested over online football gambling in China

Over 540 suspects have been arrested for organising online football gambling using bitcoin, with over 10 billion Yuan (1.5 billion dollars) of money involved, police in south China’s Guangdong Province said on Wednesday.

Recent Stories

election inec nigeria

2019: EU, US, UK, others seek transparent, peaceful Nigerian elections

The European Union, United States, United Kingdom and other foreign governments on Sunday demanded a process that would herald free, fair, transparent and peaceful elections as political parties flagged off political campaigns ahead of the 2019 polls.
The presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, is to kick-start his campaign for the 2019 presidential election through an address to Nigerians on Facebook on Monday.

Atiku Abubakar: Only plans and not promises can get Nigeria working again

The presidential candidate of the Peoples Democratic Party, Atiku Abubakar, has told his co-contestant in the 2019 election, President Muhammadu Buhari of the All Progressives Congress, that only plan and not promises can get Nigeria working again.

Mohammed Sanusi charges Flying Eagles on discipline, dedication

The General Secretary of the Nigeria Football Federation, Dr. Mohammed Sanusi, has challenged players of the U20 National Team, Flying Eagles, to imbibe the virtues of discipline, dedication and commitment as they prepare for the upcoming WAFU U20 Tournament in Lome and the Africa U20 Cup of Nations in Niger Republic.
Tonye Cole

Tonye Cole: Gunmen opened fire on us

The governorship candidate of the All Progressives Congress (APC) in Rivers State, Tonye Cole, says gunmen opened fire on his team while they were going about consulting people for the forthcoming election in the state.

Kano records 52 months polio free

Kano State has recorded 52 months without a fresh case of polio virus across the state, the State Governor, Dr Abdullahi Umar Ganduje has said.