Author: Vitaliy Dadalyan

Trump, meeting with Republican leaders, says welfare reform may have to wait

U.S. President Donald Trump and Republican congressional leaders said after talks on Saturday that they would make an election-year push this year for an immigration overhaul and infrastructure spending but that welfare reform may have to wait for later. Trump was joined for two days of talks with Senate Majority Leader Mitch McConnell, House of Representatives Speaker Paul Ryan and other top Republicans to sketch out a legislative agenda during a year in which they will battle to keep the U.S. Congress in Republican control in November elections. Taking questions from reporters after the talks, Trump said he planned an active year on the campaign trail on behalf of Republican candidates.


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China Dec fx reserves rise to $3.14 trln, highest since Sept 2016 – central bank

China's foreign exchange reserves rose to their highest in more than a year in December and grew at a faster-than-expected pace, as tight regulations and a strong yuan continued to discourage capital outflows, data showed on Sunday. Notching up their 11th straight month of gains, reserves rose $20.2 billion in December to $3.14 trillion, the highest since September 2016 and the biggest monthly increase since July, central bank data showed on Sunday. Capital flight had been seen as a major risk for China at the start of 2017, but a combination of tighter capital controls and a faltering dollar helped the yuan stage a strong turnaround, bolstering confidence in the economy.


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