• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On April 1st, it was reported that on March 31st, the Shanghai Municipal Science and Technology Commission and the China-EU Chamber of Commerce jointly organized a roundtable exchange meeting on serving foreign-invested R&D institutions in Shanghai. Representatives from the China-EU Chamber of Commerce, Novartis, bioMérieux, Siemens Healthineers, DSM-Firmware, GlaxoSmithKline, and Novo Nordisk, as well as relevant personnel from the Shanghai Municipal Science and Technology Commission and the Shanghai Science and Technology Exchange Center attended the meeting. The Shanghai Municipal Science and Technology Commission responded to the opinions and suggestions of the companies, stating that it will further strengthen communication and resource sharing with foreign-invested R&D institutions, provide full policy support, enhance innovation collaboration, optimize the innovation ecosystem, and contribute to the high-quality development of Shanghais biopharmaceutical industry.On April 1st, Israeli Prime Minister Benjamin Netanyahu delivered a video address on the evening of March 31st, stating that while Iran and its supported armed forces "still retain a limited ability to threaten Israel, they can no longer threaten Israels survival." Netanyahu also stated that "In the past, Israel was fighting Iran alone, but now it is fighting alongside the United States"—he described this as an "unprecedented and historic cooperation" between him and US President Trump, and between the US and Israeli militaries. Netanyahu further stated that Israel is forging new alliances with some "important" countries in the region to counter what he called the "Iranian threat." However, he did not specify which countries were involved or provide further details.On April 1st, it was reported that Kong Yanshuang, former General Manager of Tesla China, has joined Xiaomi, taking over the sales responsibilities from Li Xiaorui, the former Director of Automotive. The transition is currently underway. Kong Yanshuang previously oversaw sales planning in China at Tesla and possesses extensive market experience. Another employee with a Tesla background, "Eason," also joined Xiaomi at the same time, joining Xiaomis strategic advisory team. Xiaomis automotive retail system has always referenced the Tesla model; the addition of several Tesla-affiliated executives is expected to further enhance Xiaomis automotive retail capabilities and lay the foundation for responding to market changes.UK Maritime Trade Operations Office: Regarding the incident 17 nautical miles north of Ras Lafan, Qatar, a vessel was hit by two munitions, one of which did not explode.April 1st - On April 1st, with the strong support of relevant Cambodian departments, the Ministry of Public Security dispatched a working group and successfully extradited Li Xiong, a core member of the Chen Zhi criminal syndicate, from Phnom Penh, Cambodia back to China. This is another significant achievement in law enforcement cooperation between China and Cambodia. Investigation revealed that Li Xiong was formerly the chairman of Huiwang Group, a subsidiary of the Prince Group, and is suspected of multiple crimes including operating casinos, fraud, illegal business operations, and concealing criminal proceeds. Currently, Li Xiong has been placed under coercive measures according to law, and the relevant cases are under further investigation. A relevant official from the Ministry of Public Security stated that several core members of the Chen Zhi criminal syndicate have been apprehended, and the public security organs will continue to intensify their efforts to resolutely bring fugitives to justice. At the same time, they reiterated their warning to criminals to recognize the situation, repent before its too late, and surrender themselves to the authorities as soon as possible to receive lenient treatment.

GBP/JPY Nears 161.50 As Risk-On Sentiment Roughens The Waters

Daniel Rogers

Mar 20, 2023 13:25

GBP:JPY.png 

 

In the early hours of Monday's Asian session, GBP/JPY appreciated as Japanese Yen demand waned in response to rising liquidity optimism. Monday's improvement in risk appetite was the consequence of a global effort to end the liquidity crisis of the previous week.

 

In order to restore confidence in the financial system, several major central banks, including the Bank of Japan (BoJ) and the Bank of England (BoE), have coordinated efforts to dilute the global banking ecosystem with US Dollars. This is the reason why the transition line has been implemented.

 

This swap line's principal source of financing is the Federal Reserve (Fed); the Fed will lend US Dollars to other central banks in exchange for local currency as a short-term loan. The exchange line will begin on Monday and continue through April.

 

Sunday, the Bank of England issued a statement welcoming the Swiss government's decision to merge Credit Suisse and UBS Group and reiterating that the UK banking system is adequately capitalized and funded. The Bank of England (BoE) will make a decision regarding interest rates on Thursday, and it will be crucial to observe their future direction. Given the ongoing liquidity crisis, this may be the last time the BoE raises interest rates.

 

March meeting of the Bank of Japan The previously released Summary of Opinions contains no new information, as the Federal Reserve has maintained an extremely permissive monetary stance for decades. In addition, Japanese Finance Minister Shunichi Suzuki stated on Monday that he was closely monitoring market movements in the wake of Credit Suisse Group's rescue agreement over the weekend.

 

This week, it is also crucial to monitor the liquidity situation, citing reports that two European banks are under close observation. Therefore, it is probable that upward advances in the GBP/JPY pair will continue to be fragile.