China's forex reserves hit new record
Beijing - AFP
China's foreign exchange reserves soared to a record $3.1975 trillion at the end of June, the central bank said Tuesday. The world's largest stockpile of foreign currency expanded by 30.3 percent from a year earlier, the People's Bank of China said in a statement. The central bank had said previously its reserves stood at $3.0447 trillion at the end of March. China's forex reserves have ballooned in recent years, fuelled by strong foreign investment, large trade surpluses and inflows of "hot money" short-term speculative funds in search of quick profits. The stockpile has been rising as Beijing buys foreign currencies used to pay for the country's exports in order to control the value of the yuan.
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Dubai - Arab Today
Dubai-based label ASMARAÏA just launched its pre-fall 2019 collection — and it’s all about cruelty-free, sustainable fashion with a festive edge. Checkmate The 15-piece collection features this checkered skirt-and-jacket ensemble that is giving us major “Clueless” vibes. Gold Rush ‘Tis the season to sparkle and this dazzling, floor-length gold skirt will do the trick. Take note of the chic black bow detail at the waist — it’s the ultimate party look. Feathered fashion The brand works with environmentally-friendly materials such as organic cotton, recycled polyester and faux fur, so you can be sure this feathered look doesn’t come at the cost of an animal’s life. Jewel Tones If you want to glisten like a polished jewel at your next festive function, this emerald-colored skirt is the perfect choice with its sequin details and shimmery overlay. Golden Girl Leopard print
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