Business

BEIJING, July 23 (Xinhua) -- China on Monday said it has no intention to spur exports through competitive devaluation of its currency, rejecting the United States' accusations of manipulating the exchange rate of the yuan.

"The yuan's exchange rate is mainly determined by market supply and demand," Foreign Ministry Spokesperson Geng Shuang told a press briefing. "It floats in both ways, which means there are ups and downs."

Currently, the good fundamentals of China's economy provide strong support for the exchange rate of the yuan to remain generally stable.

PRETORIA, July 23 (Xinhua) -- South Africa rolled out the red carpet for Chinese President Xi Jinping on Monday as he started his third state visit to the "rainbow nation" with the aim of boosting bilateral friendly relations and cooperation.

Xi and his wife, Peng Liyuan, were greeted by high-ranking South African government officials at the airport.

This state visit is the first of its kind South African President Cyril Ramaphosa has hosted since he took office in February this year.

LA PAZ, July 23 (NNN-XINHUA) -- Asia has become Bolivia's main market for mineral exports, overtaking the United States, in the past three years due to better export conditions and prices, according to the Bolivian mining ministry.

In 2017, Asia received 61 percent of Bolivia's minerals exports, including zinc, gold, silver, lead, tin and copper, valued at more than US$2.3 billion.

Meanwhile, the U.S. demand for Bolivia's minerals fell from US$256 million worth of imports in 2015 to US$59 million in 2017.

18 July 2018; Egypt SIS; Minister of Investment and International Cooperation Sahar Nasr and UN Assistant Secretary General and Director of the UN Development Programe (UNDP) Regional Bureau for Arab States Mourad Wahba on Wednesday signed a declaration of intent to support Egypt's program for Sinai Peninsua development.

Minister of Environment Yasmin Fouad attended the signing ceremony which was held on the fringe of the Economic and Social Council Forum on Financing for Development, currently in session in New York.

BUENOS AIRES, July 22 (Xinhua) -- Managing Director of the International Monetary Fund (IMF), Christine Lagarde, has reiterated the risks that protectionist trade policies will have negative impacts on world economy.

During a Saturday press conference here in the Argentine capital, Lagarde noted recent global Gross Domestic Product (GDP) forecasts amid the United State's application of heavy tariffs being placed on various foreign imports.

KIGALI, July 22 (Xinhua) -- Chinese President Xi Jinping arrived here on Sunday for a state visit to Rwanda, the first by a Chinese head of state to the African country.

Upon their arrival, Xi and his wife, Peng Liyuan, were warmly received by Rwandan President Paul Kagame and his wife Jeannette Kagame.

At the airport, a group of local people in colorful clothes with distinctive ethnic features performed dances and beat drums to greet the honored Chinese guests.

Dr Patrick Soon-Shiong, declared by Forbes magazine in 2014 as “The richest doctor in the history of the world,” has bought the LA Times.

A surgeon Soon-Shiong, born in South Africa to Chinese parents and California’s most successful but enigmatic billionaires, made a fortune in trying to cure cancer said not only fake news is the “cancer of our time” – but also short-attention spans and hyper-partisan discourse.

21 July 2018, AFP; US Treasury Secretary Steven Mnuchin on Saturday urged China and the EU to respect "free, fair and reciprocal trade" as his French counterpart fired back that the US needs to "see sense" amid fears of a global commerce conflict.

Mnuchin arrived in Buenos Aires for the Group of 20 summit of finance ministers and central bankers at the end of a week in which US President Donald Trump ramped up his inflammatory remarks and threats regarding global trade.

COLOMBO, July 21 (Xinhua) -- Sri Lankan President Maithripala Sirisena attended a groundbreaking ceremony on Saturday to launch the construction of a China-Sri Lanka friendship hospital in Polonnaruwa in north central Sri Lanka.

The National Nephrology Specialist Hospital is being constructed following a request by President Sirisena to the Chinese government.

The 25,517-square-meter hospital, which will be the largest kidney hospital in South Asia, will include 200 inpatient beds and 100 hemodialysis beds.

TEHRAN, July 21 (Xinhua) -- Iran's Supreme Leader Ayatollah Ali Khamenei on Saturday said that any negotiation with the United States to solve the existing mutual problems is an "obvious mistake," official IRNA news agency reported.

Khamenei also said that negotiations with the Europeans should continue to secure Iran's interests from the 2015 international nuclear deal.