Saudi Foreign Reserves Drop in April on Wealth-Fund Transfer

Joseph B. Hash

RIYADH—Saudi Arabia’s overseas reserves dropped sharply in April as the kingdom saved its peg with the U.S. greenback continual though transferring a chunk to its sovereign-wealth fund to guess on stocks overwhelmed down by the coronavirus pandemic.

The kingdom’s reserves in current years have hovered about the $500 billion amount, held by its central bank in mostly reduced-hazard property these as U.S. Treasurys. The implied steadiness permitted officials to keep the Saudi riyal’s peg to the greenback and reveal the kingdom’s economical power…

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China’s Barely Begun Economic Recovery Shows Signs of Stalling

Joseph B. Hash

SHANGHAI—China’s economic restoration strike a velocity bump in Might as the coronavirus pandemic started curbing the world’s need for Chinese items.

A lot more and extra Chinese factories have reopened for work in the earlier three months as authorities have eased their once-intense coronavirus actions. But now they are experiencing the dire fact of falling orders from abroad prospects.

The…

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Hong Kong Police Ban Tiananmen Massacre Vigil

Joseph B. Hash

HONG KONG—Police denied an software by organizers of an once-a-year candlelight vigil to commemorate the 1989 Tiananmen Sq. massacre, amid problems more than civil liberties following China stated it would impose nationwide-protection laws on the metropolis.

Citing health problems and social-distancing restrictions to incorporate the Covid-19 pandemic, law enforcement stated in their letter of objection Monday that they could not make it possible for the vigil to be held this yr, and that any one who violated their decision could be subject matter to imprisonment and fines.

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