China's finance ministry issues additional 8 bln yuan treasury bonds in HK

China's Ministry of Finance (MOF) issued yuan-denominated treasury bonds worth eight billion yuan (about 1.12 billion U.S. dollars) targeting institutional investors in Hong Kong on Thursday.

The issuance, the fifth tranche of this year, was well received by investors with the total bid amount 3.61 times the amount in circulation, the ministry said in a statement.

It included three billion yuan of two-year bonds, priced at 100.63 yuan with an interest rate of 1.75 percent; three billion yuan of three-year bonds, priced at 101.01 yuan with an interest rate of 1.85 percent; and two billion yuan of five-year bonds, priced at 101.72 yuan with an interest rate of 1.98 percent, according to the ministry.

The MOF plans to issue a total of 55 billion yuan (about 7.8 billion U.S. dollars) in RMB-denominated treasury bonds in six tranches in the Hong Kong Special Administrative Region this year, as part of the efforts to bolster the city's role as an influential global financial hub.

China's finance ministry issues additional 8 bln yuan treasury bonds in HK

China's finance ministry issues additional 8 bln yuan treasury bonds in HK

China's finance ministry issues additional 8 bln yuan treasury bonds in HK

China's finance ministry issues additional 8 bln yuan treasury bonds in HK

People in Yemen are struggling for survival as the country continues to grapple with a deepening labor crisis after more than a decade of war, with many lamenting the lack of opportunities which are leaving the livelihoods of many hanging in the balance.

As the world marks International Workers' Day on Friday, the situation in Yemen seems all the more poignant as millions of people are finding it increasingly hard to find any work at all.

In the crowded streets of the capital Sana'a, workers gather on street corners, waiting for jobs that may never come. Ahmed Muawadah is one of the many who are sitting here, watching passing cars, desperately hoping that one will stop and offer work.

"Our suffering is that we sit here without work. Sometimes we spend a whole month without working, except for one day, or just one day every two weeks. Work is very limited, almost non-existent. I have nine children, and I only work one day a month. I cannot support them. Jobs have completely disappeared. If opportunities were opened for us, I and all the workers would work," said Muawadah.

This individual story reflects a broader reality affecting an estimated eight million workers across Yemen. Many of them are hoping to receive a daily wage, but the challenges are mounting in an increasingly strained labor market.

Activity in key sectors such as construction and services has dropped sharply, largely due to the suspension of several international initiatives, including those backed by the World Bank. As a result, income opportunities have narrowed for those who rely primarily on daily wages.

Meanwhile, the widening impact of the U.S.-Israeli war on Iran and the disruption caused along the key Strait of Hormuz -- a key shipping route for global trade -- has brought more misery in recent weeks.

"There has been a significant decline in business activity as a result of the war, the blockade, and the disruption of work. Foreign capital has also left the country, and large companies have moved out of Yemen and stopped their operations. This is one of the main reasons," said Abdul Karim Al, secretary general of the General Federation of Trade Unions in Sana'a.

Yemen residents struggling to survive as work dries up amid deepening labor crisis