CHINA

Investment Banks Rush To Cut Yuan Forecasts, 7 Per Dollar At Risk

Illustration picture of Chinese yuan
Major investment houses have cut their yuan forecasts as its fall against the dollar accelerates, with some expecting a breach of the 7-per-dollar milestone before next month's politically sensitive Party Congress despite authorities' efforts to slow the slide.
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Robert Tsao, the former chairman of contract microchip maker UMC, speaks with his staff after a news conference where he announced his plans to fund civil defense education in Taipei

Taiwan Businessman Offers Funds To Train Civilian Marksmen

One of Taiwan's richest men, Robert Tsao, said on Thursday he would provide T$1 billion ($33 million) to two civilian defence training programmes, in a private effort to strengthen the island's defences amid heightened tension with China.