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Weekly choices of Xinhua photo (Aug. 5 - Aug. 11)
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PostPosted: 25 Mar 2019 07:25:39    Post subject:  Weekly choices of Xinhua photo (Aug. 5 - Aug. 11)
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BEIJING
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, Aug. 14 (Xinhua) -- The Chinese currency strengthened against the U.S. dollar for the fifth straight working day on Monday to its highest level since September last year.


The central parity rate of the Chinese currency, the renminbi or the yuan, strengthened 41 basis points to 6.6601 against the U.S. dollar Monday, according to the China Foreign Exchange Trade System.


The dollar was weighed down by weak U.S. inflation data which dampened prospects of another Federal Reserve interest rate hike later this year.


Friday's data showed the U.S. consumer price index edged up just 0.1 percent last month after it was unchanged in June.


Meanwhile
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, China's economy continued its steady expansion in the first half of this year with GDP up 6.9 percent, supporting the Chinese currency.


"The renminbi, despite moving closer to the level consistent with overall assessment, remained broadly in line with fundamentals and desirable policies
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," said the IMF in its latest External Sector Report released last month.


China's policies put in place to stabilize growth have led to recent appreciation of the RMB and helped ease capital outflows and foreign exchange reserve loss, according to the IMF.


In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.


The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.


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TIRANA
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, Aug. 14 (Xinhua) -- The construction sector in Albania maintained a positive growth during the second quarter of this year and the trend is expected to continue into the second half of 2017, data published by the Bank of Albania (BoA) showed Monday.


"The increase of the approved number of construction permits and the positive contribution of public investments signal a continuation of the positive trend of Albania's construction sector in 2017," BoA experts said in an analysis.


According to them, the confidence indicator and the rate of capacity utilization in construction suggested that the performance of the construction sector would further improve in the upcoming months.


"The added value of the sector expanded at a high annual rate
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, around 14.1 percent, following positive rates of the previous quarter," the central bank experts noted.


According to the analysis of BoA specialists, during the second quarter
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, Albania saw an increase in the sale of apartments, as the decline of the euro affects the housing prices.


Meanwhile, experts emphasized that the continuation of the project for the construction of the Trans Adriatic Pipeline (TAP) and the growth of foreign direct investment inflows were expected to have had a positive effect on the performance of the construction sector.


They added that the sector developments were also influenced by the realization of engineering works and the category of new constructions.


Albanian construction sector has suffered a decline over the past years, mainly due to the drop in the public investments carried out by the government and the deadlock in the apartments' sales.


Therefore
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, the fact that economic indicators of this sector are improving is considered by economy experts here as a good signal for the Albanian economy in general.


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PostPosted: 25 Mar 2019 07:25:39    Post subject: Adv





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