Chinas foreign exchange reserves stay above $3 trillion till March end
The Dollar Business Bureau China's foreign exchange reserves in March grew $3.96 billion to $3.009 trillion, compared to $3.005 trillion at the end of February. The March data indicated that the Chinese government’s recent initiatives including easing of capital outflows have given liberty to People's Bank of China to withdraw from foreign exchange intervention In January, China’s reserves nosedived below $3 trillion for the first instance in nearly six years. However, in February foreign reserves rebounded to their first increase in eight months. The March growth is also the first instance when the reserves increased for two consecutive months since April 2016. Economists have however noted that this growth is rather temporary, especially in the backdrop of a decline in dollar value. China's ...
Singapores investment firm to pump in Rs.1990 cr in Indian joint venture
The Dollar Business Bureau Singapore-based global investment fund GIC will invest Rs.1990 crore in a joint venture with Indian realty major DLF Ltd. to carry out two big-ticket projects in Delhi. Both the projects located in central Delhi will be developed under DHDL (DLF Home Developers Ltd), the Indian company said in a statement on Wednesday. “We hope that this investment is a beginning of a new relationship with GIC at the project level. We look forward to working together with GIC in many projects, both residential and commercial”, said Saurabh Chawla, Senior Executive Director-Finance of DLF Ltd. According to Mohit Gural, Chief Executive Officer of DLF, the partnership will “unleash many more signature developments and herald a new era of ...
