MNI: PBOC Net Drains CNY203.9 Bln Via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1358 Weds; -0.98% Y/Y

CHINA PBOC CONDUCTS CNY66.1 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1358 WEDS VS 7.1334

MNI BRIEF: China Wants U.S. Firms To Deepen Investment

MNI China Daily Summary: Tuesday, July 23

Market round-up post PMIs

PMIs indicate solid growth; less cost pressures from wage increases

MNI: UK JUL FLASH MANUFACTURING PMI 51.8 (FCST 51.0); JUN 50.9

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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Public Enterprises Min To Visit China, S. African & Russian Mins To Meet

SOUTH AFRICA
  • Public Enterprises Minister Pravin Gordhan will lead a delegation to China next month to break the deadlock between Transnet and Chinese rail equipment maker CRRC. The two companies have waged a legal battle after Transnet stopped the supply of more than a 1,000 locomotives from several manufacturers including CRCC, while the Chinese firm retaliated by halting the delivery of spare parts and maintenance support. Transnet plays a critical role in transporting key South African export commodities including coal and iron ore.
  • Moneyweb reports that the target date for the return to service of Unit 1 of the Koeberg nuclear power station has been pushed back to September 13, which means exceeding the original deadline by 50%. The prolonged unavailability of the unit due to maintenance works raises the risk of exacerbating load-shedding in winter months. Sources told Moneyweb that the delays might be caused by Eskom's decision to manage the project itself, which entails regular interference by the utility.
  • Bloomberg reports that South African and Russian Economy Ministers hold a bilateral summit in Pretoria today. This comes after South African lawmakers participated in a parliamentary conference in Moscow last week, as the two countries maintain regular diplomatic contacts, despite the Western-led isolation of Russia caused by its invasion of Ukraine.
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