Beijing devalues yuan against US dollar, which will make Chinese goods cheaper after 8.3% fall in exports in July
What has China done?
China’s central bank has devalued the yuan by nearly 2% against the US dollar for the second time in two days to boost exports and take it a step nearer to becoming an official reserve currency.
Singapore's central bank on Friday introduced rules to ensure that a property buyer's monthly payments do not exceed 60 percent of his income, a move aimed at cooling the housing market and ensuring investors are not caught out by a rise in interest rates.
"The TDSR (total debt servicing ratio) will apply to loans for the purchase of all types of property, loans secured on property, and the re-financing of all such loans," the Monetary Authority of Singapore (MAS) said in a statement.
