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Hard Numbers: China rattles the saber, Egypt’s inflation falls, Japan props up yen, Spain wins Euros
Chinese pilots deplane from a JH-7 fighter-bomber in preparation for the 9th China International Aviation and Aerospace Exhibition, known as Airshow China 2012, in Zhuhai city, south Chinas Guangdong province, 10 November 2012.
30: Taiwan’s defense ministry recorded 30 Chinese combat jets and seven warships in the skies and waters around the islandon Saturday and said it was monitoring “waves” of missile tests in Inner Mongolia province. These are the third large-scale maneuvers around Taiwan this week.
27.5: Inflation rates in Egypt have dropped for the fourth straight month to 27.5%, down from an agonizing 38% peak in September. However, economists warn that fuel, medicine, fertilizer, and naturalgas markets remain volatile, and Egypt’s most needy families are smarting from a 300% increase in the price of subsidized bread.
22 billion: A Bloomberg analysis of the Bank of Japan’s accounts found it had likely spent approximately $22 billion propping up the anemic yen, which has lost 11% of its value this year, on Thursday. This would mark the third time the central bank has directly intervened in the currency market — an expensive practice, but Tokyo has few other options while the difference between US and Japanese interest rates remains so vast.
2-1: Spain beat England 2-1 in a thrilling final of the Euro 2024 championship on Sunday, marking their fourth time bringing home the cup. England, the country that invented modern football, has never won. In Miami, Argentina won the Copa America 1-0 against Colombia, but the event was marred by botched security that saw scenes of panic as unticketed fans rushed and overwhelmed barriers.