finance Archives - Page 2 of 2

Russia to double yuan share in rainy day fund – Finance Ministry

The balances of the British pound and Japanese yen in the sovereign wealth fund have been reduced to zero The maximum share of Russia’s National Wealth Fund (NWF) that can be held in Chinese yuan will be doubled to 60% as Moscow further reduces exposure to the currencies of ‘unfriendly’ nations, the Finance Ministry has announced. The permitted share of gold in the NWF will…

G20 finance leaders to meet in Bali about global crises

A global food crisis, soaring inflation and an unpromising economic outlook will be on the table when finance chiefs from most of the world’s largest economies meet in Bali this week. In the lead-up to the meetings, the host, Indonesia President Joko Widodo, has stressed that unity must be the path forward and millions of lives are at stake if leaders cannot find solutions. Al…