Changes to the US border tax proposed by Republicans in the House of Representatives could have a spill-over effect on other nations’ sovereign currencies, including in emerging markets, and lead to the loss of tax revenues in those countries, Fitch Ratings said in a press release on Wednesday. Source: Sputnik
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Foreign holdings of German government bonds have fallen to their lowest since before the financial crisis in 2008, data suggests, a potential headache for the European Central Bank which buys the bulk of assets for its stimulus scheme from among the debt. Source Reuters
A joint project between China and Russia to build a C929 superjet is currently progressingsmoothly through research and development, according to Jin Zhuanglong, chairman ofthe Commercial Aircraft Corporation of China (COMAC). The fuel-efficient plane will reportedly compete with Boeing’s 787 Dreamliner. Source People’s Daily
Euro-zone finance ministers failed to break an impasse on debt relief for Greece, delaying the completion of the country’s bailout review and the disbursement of about €7 billion euro in loans. The IMF sought more debt relief for the country, pushing euro-zone creditors to ensure the sustainability of Greece’s €315 billion of obligations. Source Irish Times