Latest news with #People'sBank
Bloomberg
07-07-2025
- Business
- Bloomberg
China's PBOC Keeps Buying Gold as Reserves Grow For Eighth Month
China added to its official gold reserves for an eighth straight month in June, as prices of the precious metal traded near a record high. Bullion held by the People's Bank of China rose by 70,000 troy ounces last month, according to data on Monday. Its gold reserves have climbed by 1.1 million troy ounces — or about 34.2 tons — since the current run of purchases began in November last year.
South China Morning Post
03-07-2025
- Business
- South China Morning Post
Economist Huang Yiping floats Hong Kong as stablecoin staging ground
Issuing a stablecoin pegged to the offshore yuan in Hong Kong may be more feasible than in mainland China due to the latter's capital controls, a central bank adviser has said. The comments from Huang Yiping, also dean of Peking University's National School of Development, came as worries arise in Beijing's policy circles that Washington could gain an upper hand through the cryptocurrency offshoot as a means of consolidating US dollar dominance. 'As China's capital account is not fully liberalised, it would be very difficult to roll out a stablecoin domestically,' he told financial news outlet on Wednesday. Huang, an influential figure in his second stint at the People's Bank of China's monetary policy committee, acknowledged Hong Kong's speedy progress in this area. The special administrative region – often a staging ground for financial experimentation – has taken a more permissive stance than the mainland. In late May, the city passed a law establishing a regulatory framework for stablecoins that is set to take effect on August 1. Although stablecoins can be pegged to any fiat currency, more than 99 per cent are currently backed by the US dollar or US dollar-denominated assets – far exceeding the US dollar's roughly 50 per cent share in global payments and its 58 per cent share of global foreign exchange reserves. 'The issue with issuing a stablecoin in Hong Kong is that if it's pegged to the Hong Kong dollar, which in turn is pegged to the US dollar - so ultimately, it's the US dollar that plays the foundational role,' Huang said.
The Standard
13-06-2025
- Business
- The Standard
China central bank plans second cash injection via outright reverse repos in June
The People's Bank of China (PBOC) building in Beijing, China, on Friday, Nov. 8, 2024. Source: Bloomberg
Yahoo
29-05-2025
- Business
- Yahoo
Amherst Farmers Market still going strong after 53 years
AMHERST — Spend any time on the farmers circuit in the region and vendors and market-goers alike will say that the Amherst market is one of their favorites. 'I would hope the good word is getting out,' said David Machowski, owner, manager and director of the Amherst Farmers Market. 'Our reputation is pretty strong.' Machowski bought the market in 1986, and it first opened in 1972. 'The town gives us great support,' Machowski said. 'They give us everything we need to make it work out here. We also have sponsorship from People's Bank, and Blue Cross, Blue Shield of Massachusetts.' Opening day for this year's market was April 19, with vendors and customers set to come together on 31 consecutive Saturdays through Nov. 15. What will the highlights be over the next six months? 'Survivability,' Machowski said. 'We're out here 31 weeks, so the highlight is just making it each week and having a good turnout. We are fortunate, we have a very loyal clientele. So we do well. The weather's not been great.' Machowski said more seasonality is one of the highlights of the Amherst market. May, June, September and October are the busiest months. The summer months are slower, mainly because Amherst is a college town and people are away, Machowski said. 'Some (vendors) come in later in the season, some are earlier,' he said. 'It depends on what they have and how many other events and things they've got to spread themselves out to. But no matter the weather, people come out.' Rain has dampened four of the market's six Saturdays so far. Machowski also said a 'bad' day for the market still means at least 1,000 people come through the entrance and when the weather is nice, that number can top 5,000. 'I think there's good bang for the buck,' Machowski said, 'We have a lot of people coming out for the vendors and ardent support for several of them. No matter what the weather, people come out.' This year, 54 vendors have signed up to be on the Amherst market's roster with 40-42 being on hand any given Saturday. Zora's is a new vendor this year serving up authentic Venezuelan cuisine, run by Zora and her husband Leo. 'They've been knocking it out of the park here,' Machowski said. 'They'll be here every week. They have a line all day. Just. It's amazing to see.' Red Fire Farm, Twisted Buns, Bread Euphoria Cafe and Plum Island Jams are just a few of the returning vendors. Machowski has owned the market for 39 years and it never gets old. 'I've been here a long time. Every year I can say I think I've seen it all and it turns out I haven't,' he said. 'Something new arises, but it's great, I've got good staffing. It's absolutely fulfilling. Depending on who you talk to. The town has told me we're either the third or fourth largest economic driver for the town.' Without a doubt, the market is all about bringing Amherst closer. 'It's a huge community. People come out and just socialize, shop and socialize,' Machowski said. 'During COVID, we were the only game in town. We were out here on the common. So being able to give that sort of connection to the town, that sort of draw, getting people out here ... for a lot of people, it's their weekly retreat to come out and socialize, make the shopping and see faces.' Read the original article on MassLive.
Chicago Tribune
28-05-2025
- Business
- Chicago Tribune
New Winfield town marshal looks foward to move to remodeled police station
Robert K. Byrd, a little more than one month into his new job as Winfield's new town marshal, is looking forward to the future including a move into a newly remodeled police department. 'The first month has been busy and fast-paced and we've done a deep dive into the neighborhoods to do a lot of listening and learning,' Byrd said. Byrd, a Chesterton resident, was sworn in as Winfield's new town marshal at the April 22 Town Council meeting and started his work immediately afterward. In addition to his new position as town marshal, Byrd will also be overseeing the move into a new police department. The present police department, at 10645 Randolph St. in the Winfield Municipal Complex, will be relocated to 10688 Randolph St., in the former People's Bank. 'Hopefully we will be making the final move by sometime next week,' he said. He said plans are to hold an official opening day event which residents would be invited to attend. During his update at the Town Council meeting on Tuesday, Byrd complimented his department of eight, not including himself, calling them 'dedicated officers who genuinely care about Winfield.' Plans also include changing the status of the police department from marshal-based to metropolitan-based, he said. Byrd, whose salary was prorated starting from April 22, will receive $95,000 this year; $96,900 in 2026; $98,38 in 2027 and $100,814 in 2028, according to an agreement unanimously approved by the Town Council. Byrd is a 50-year law enforcement professional who began his career as a military police officer in the U.S. Army. He replaced former Town Marshal Dan Ball who resigned in late January. Ball was sworn in as Winfield's first town marshal on Aug. 26, 2014, and was instrumental in starting up the new police department a month later. Ball was placed on paid administrative leave, then later resigned, following a Jan. 10 meeting with two members of the town council — Councilman Zack Beaver, R-at-large, and Councilman Tim Clayton, R-at-large. In other business, the Town Council on Tuesday opened two bids received for its 2025 Community Crossings Match Grant Road Project. The bids included a total of $1.8 million from Rieth-Riley and $1.7 million from Milestone Contractors. The bids were taken under advisement but sent to both the engineering and legal departments for review. The Town Council agreed to allow Town Council President Zack Beaver to sign off on the lowest, responsible bid after review given the warm weather timeline. Roads that are part of the road maintenance project are: 104th Avenue, from Pike Street to Randolph Street; 106th Avenue, from Newton Avenue to Pike Street; 103rd Avenue, from Nicklaus Street to where it dead ends; 105th Avenue, from Benton Street to Dearborn Street; 105th Lane, from Dearborn Street to Green Place; Green Place, from 190 feet north of 109th Avenue to 105th Lane; Benton Street, from 109th Avenue to 105th Court; and Lawrence Drive from, 112th Avenue to 110th Lane.
