Chinese private investment in Uganda is growing while Westerners are losing appetite to put money to work in the country, President Yoweri Museveni told Reuters, pledging to step up efforts to tackle corruption that have made slow progress.
China's yuan strengthened against the dollar on Friday despite a weaker mid-point set by the central bank, as some analysts expected the Chinese economy to withstand the fallout from the Omicron variant better than its peers.
A build up of bets on rising interest rates has done nothing to derail a stock market rally based on conviction that policy tightening by the U.S. Federal Reserve and other central banks will go nowhere near as far as it did in the past.
Emerging market currencies will struggle to make modest gains next year as the U.S. Federal Reserve turns more hawkish, squeezing interest rate differentials, amid likely unimpressive growth from world No. 2 economy China, a Reuters poll found.
Foreign investors ramped up selling in Japanese shares last week, as a newly identified Omicron coronavirus variant fanned worries of fresh restrictions and its impact on global economic recovery.