Photo taken on March 16
Claudio Bravo Manchester City Jersey , 2014, shows yuan (central) and other currencies in the picture. [PhotoIC]
WASHINGTON - The US Treasury Department said on Wednesday that China cannot be ruled as a currency manipulator, but highlighted the need for sustained progress toward a market-driven exchange rate.
"The gradual appreciation of the renminbi this summer and low apparent levels of intervention indicate some renewed willingness by the authorities to allow a stronger domestic currency and to reduce intervention in line with Strategic & Economic Dialogue commitments," the department said in its Semi-Annual Report to Congress on International Economic and Exchange Rate Policies.
"Even so, important metrics continue to indicate that the renminbi exchange rate remains significantly undervalued
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The report said the nominal effective exchange rate has appreciated 1.6 percent from the beginning of the year through end- September, but there are a number of continuing signs that the exchange rate adjustment process remains incomplete and the renminbi has to further appreciate before reaching its equilibrium.
"China should allow the market to play a greater role in determining the exchange rate," it said, which includes refraining from intervention within the band and adjusting the reference rate if market pressures push the exchange rate to the edge of the band.
It noted China's current account surplus in 2013 fell to below 2 percent of GDP
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The US Omnibus Trade and Competitiveness Act of 1988 requires the Treasury to provide reports on whether its major trading partners manipulate the rate of exchange between their currency and the United States dollar for purposes of preventing effective balance of payments adjustments or gaining unfair competitive advantage in international trade.
In previous such reports from the Obama administration, the US government did not label China as a "currency manipulator".
MINSK, Feb. 11 (Xinhua) -- Belarusian Foreign Minister Vladimir Makei said Thursday that his country is totally against new confrontations and dividing lines in Europe.
Belarus continues to advocate for early peaceful settlement of the conflict in Ukraine, Makei said at the international conference One Year of Minsk-II Accords: Achievements
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The Belarusian side has always stood for the resolution of conflicts in a civilized way, without the use of military force, without exerting political and economic pressure, the minister stressed.
Makei expressed the view that the dynamics of contemporary events clearly demonstrates that the ability to continue the dialogue is very important for the resolution of the conflict.
According to the minister, different views on internal government processes and foreign policy milestones should not be the reason for confrontations and new dividing lines. On the contrary
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The minister believes that the Minsk format of negotiations on the settlement of the Ukrainian crisis has justified itself, but added that if all the interested parties fulfilled the Minsk agreement, the conflict would have been terminated.
Makei noted that in matters of conflict Belarus didn't take any position and proceeded from its national interests. "Western politicians see that our commitment is sincere, that we are not trying to get some political dividends. We are really interested in peace in Ukraine as soon as possible
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Martin Sajdik, special representative of the Organization for Security and Co-operation in Europe (OSCE) in the trilateral contact group on Ukraine, said all the parties to the conflict in Ukraine viewed the Minsk talks as the only way out of the situation in Ukraine.
There is no worthy alternative to Minsk, he said. However, despite the fact that the parties undertook a series of commitments a year ago
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On Feb.11, 2015 the heads of "Norman Quartet" countries gathered in Minsk. After almost 17-hour marathon talks they reached the political agreement on the settlement of the situation in Donbass. Officially, these agreements are referred to as a set of measures for the implementation of the Minsk agreements.
ALGIERS, April 3 (Xinhua) -- Algerian Football Federation (FAF) on Saturday announced the termination of the contract with French coach Christian Gourcuff.
"The contract of national coach, Christian Gourcuff
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The source specified that Gourcuff's assistant Nabil Neghiz will assure the interim pending the appointment of a new head coach.
FAF has already launched negotiations with available coaches, including Italian world cup champion, Marcello Lippi, in addition to Marcelo Bielsa of Argentina.
Gourcuff was appointed Algeria's head coach in August 2014 in replacement of Bosnian Vahid Halilhodzic. He is set to return to work in France
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He led the North African squad to qualify to African Cup of Nations (AFCON 2015) in South Africa, but failed to secure a qualification to the semifinals (as stipulated in the contract), after losing to Cote d' Ivoire 3-1.
With 10 points, the Desert Foxes are on top of Group 10 qualifiers for AFCON 2017 due in Gabon. They need only one more point to confirm their qualification.
Giraffes are the talle.
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