Deutsche Bank Becomes Europe’s First Non-Chinese Renminbi Clearing Bank

Deutsche Bank Becomes Europe’s First Non-Chinese Renminbi Clearing Bank

by VBL
Friday, Aug 14, 2026 - 20:55


Contents:

• The Yuan Goes International Piggy-Backing Gold
• Step By Step
• Final Comment

Deutsche Bank Becomes Europe’s First Non-Chinese Renminbi Clearing Bank

Authored by GoldFix


Golden Yuan: We believe this is a major secular trend and as assets (Gold) start to trade in local currency (Yuan) due to policy changes (China buying Gold for Yuan backing) that asset’s relationship with the local currency tightens and becomes more robust while they are buying.

-GoldFix 2023

China just got its wish. The Renminbi is going international, European to be exact. The PBOC just appointed Deutsche Bank to be the firs EU clearing firm to handle the RMB in the push to internationalize the currency.

The Yuan Goes International Piggy-Backing Gold

The appointment, first reported by the Financial Times, gives Deutsche a direct connection to China’s financial system as Beijing accelerates efforts to expand the renminbi’s use in international trade, investment and financing.




“This establishes a direct bridge into China’s financial system and strengthens our ability to support clients engaged in Europe-China trade and investment flows,” said Leo Yin, president of Deutsche Bank China.

Deutsche said the designation reflected the renminbi’s “continued internationalization” and the bank’s growing role along major China-Europe commercial corridors. Most overseas renminbi clearing banks are local branches of China’s four largest state-owned lenders.

Yin said European companies could use the service to reduce “currency friction” and simplify supply-chain payments. Chinese companies could also finance European investments and conduct cross-border trade while remaining within the renminbi system.

The appointment deepens financial ties even as Germany encourages domestic companies to reduce their dependence on China. About 5,000 German businesses still operate in the country, including Volkswagen, Siemens and numerous Mittelstand manufacturers.

Deutsche joined China’s Cross-Border Interbank Payment System (CiP), Beijing’s alternative to Swift, as a direct participant in 2015. It is also the highest-ranked non-Chinese bank for panda-bond transactions this year, according to Bloomberg data.

Beijing has made progress expanding renminbi-denominated trade and offshore borrowing, particularly as historically low Chinese interest rates encourage multinational companies to issue panda and dim sum bonds. However, the currency’s share of global reserves remains limited, with foreign investors citing low yields, slowing growth and China’s rising debt burden as obstacles to larger allocations.

The significance of this can not be overstated. It is the CCP’s desire to internationalize the Yuan for better trade amongst its BRI partners and in doing so intentionally or not challenge the USD as a world reserve currency.

We have been talking on this topic for years here in combination with the appreciation of Gold as a necessary by product of this. It’s good to see this coming of age.


Continues here

'Delusional': Iran Fires Back At Trump's Make 'Hormuz Strait A Territory Of The US' Ambitions

'Delusional': Iran Fires Back At Trump's Make 'Hormuz Strait A Territory Of The US' Ambitions

by Tyler Durden
Monday, Aug 17, 2026 - 01:05 AM


Predictably, Iran has on Saturday issued a full-throated rejection of President Trump's Friday evening words related to the status on the conflict and energy transit in the region.

In a speech on New York's Long Island, Trump introduced the idea of declaring the Strait of Hormuz a US territory. "After we finish defeating Iran, which is being very badly defeated — pretty soon, I'll be declaring the Hormuz Strait a territory of the United States," Trump told a crowd of law enforcement officers.


"Essentially, that's what it is. We have the blockade. No ships get through unless we want them to," he added. He claimed oil prices were coming "way down".

Some pundits pointed to what seemed like classic hyperbole and his penchant for floating extreme scenarios in off-the-cuff fashion; however, Trump made the statement without any qualifiers other than it will happen when Iran is "badly defeated" by the United States. That seems to be the big if in the future scenario.

A Saturday X response from Iranian Deputy Foreign Minister Kazem Gharibabadi asserted the US has zero authority to claim the strait:


"The Strait of Hormuz has been Iranian, is Iranian, and will remain Iranian," he wrote, as translated from Persian to English. "This strait will only be closed and opened under Iran’s command."

The Iranian official then claimed all of Trump's assumptions about the conflict were delusional, showing that Washington does "not accept the reality of defeat" and so must stop indulging in its "delusions".

The Iranians have been reiterating that they will continue to enforce their blockade, also as the US Navy continues blocking imports and exports from Iranian ports.

Tehran continues to present the Oman deal - still pending finalization - as completely independent of US desires and conditions, and so better not interfere:


Iran has reached an agreement with Oman on a shipping route map for the Strait of Hormuz after weeks of technical negotiations, Foreign Ministry spokesman Esmaeil Baghaei has told state-run Defa Press.

"Despite US obstruction, the talks have made positive progress over the past three weeks and an agreement has been reached on the shipping route map."

He added that both sides were still negotiating outstanding issues, including a statement to be issued by Tehran and Muscat, noting that exchanges between the two countries would continue until the process was finalized.

Given the two sides continue holding to conflicting absolutist demands and conditions, there's a likelihood of further fighting - though it could continue to at a limited, tit-for-tat and slow pace.



Some Republican hawks are calling for some kind of bold military action by Trump, such as ordering the takeover of Kharg Island in order to show the Iranians and the American public that Tehran does not have the upper hand ahead of US November midterm elections.

However, the nearly six months of war so far has tended to demonstrate that each new escalation has not tended to go well for Washington, as Iran digs in its heels and escalates a response in turn.

 

NewsFeed

Ben-Gvir calls for nightly killings of Palestinians in Gaza

Israel’s far-right national security minister Itamar Ben-Gvir has called for nightly killings in Gaza of dozens of people who he says are ‘not worthy of life’. It’s the latest in a series of attempts at making life unbearably harsh for Palestinians.

 

Voters like Bersama, but think it cannot win, says Rafizi

Voters like Bersama, but think it cannot win, says Rafizi

Yesterday

FMT Reporters

Bersama leader Rafizi Ramli says while many may agree with its ideas, they still prefer established parties they think have a better chance of winning.

Rafizi Ramli said voters dissatisfied with Pakatan Harapan may choose Barisan Nasional instead because they doubt Bersama can defeat PH.

PETALING JAYA:

Bersama’s biggest challenge is not getting voters to accept the party, but convincing them that it has a chance of winning elections, says party leader Rafizi Ramli.

Rafizi said some voters liked what Bersama had to offer, but were reluctant to support a new party against more established political blocs.

“It’s not about whether they accept us, but whether they have full confidence that we can make a difference,” he said at a Bersama event in Shah Alam today, citing statements such as “I like your ideas, but you are too new. Let the big boys battle it out first”.

He said the same applied to voters dissatisfied with Pakatan Harapan (PH), who may choose Barisan Nasional instead because they doubt Bersama can defeat PH.

“I meet many non-Malays who say, ‘I’m crying inside when I vote. I don’t want to vote for PH, DAP or PKR any more. But you are new and cannot defeat Umno, so I cannot split my vote. I have to give my vote to PH’.”

He said it would take time for Bersama to overcome this perception.

Party co-leader Nik Nazmi Nik Ahmad identified Selangor as a potential key battleground for Bersama, saying the state’s urban and highly educated electorate presented the party with an opportunity to make inroads.

“Selangor can swing very fast and its voters do not have tribal loyalty. Our commitment is to go solo as far as possible. We don’t want to be tied to other parties,” he said.

Saifuddin Nasution warns poverty and drugs, not racial fears, are Malays’ real enemies

Saifuddin Nasution warns poverty and drugs, not racial fears, are Malays’ real enemies



PKR vice‑president Datuk Seri Saifuddin Nasution Ismail says Malays face threats from poverty and drug abuse, not the presence of other races. — Picture via Facebook/Saifuddin Nasution Ismail


Summary

• In a speech at the PKR National Congress 2026, PKR vice-president Datuk Seri Saifuddin Nasution Ismail asserted that poverty and drug addiction, rather than the presence of other races, are the real threats to the Malay community in Malaysia.
• He emphasized that Malay-majority states like Perlis, Kedah, Kelantan, and Terengganu face alarming rates of drug addiction, with a significant impact on youths aged 15 to 39.
• Saifuddin highlighted that focusing on regional development and job opportunities is vital to address these pressing issues affecting the Malay population.

First Published: Sunday, 16 Aug 2026 6:39 PM MYT


MELAKA, Aug 16 — The position of Malays in the country is not threatened by the existence of other races, but by poverty and social problems such as drug addiction, said Parti Keadilan Rakyat (PKR) vice-president Datuk Seri Saifuddin Nasution Ismail.

The Home Minister said the real threat to the Malays is when they continue to be plagued by poverty and serious drug addiction.


“I want to state that Malays and Muslims are not under threat because of other races in this country. Malays are not under threat because there are Chinese in this country. Malays are not under threat because there are Indians in this country.


“Malays are threatened if they are poor. Malays are under threat if they are the ones most involved in drug-related problems... that is the threat to the Malays,” said Saifuddin Nasution, who is currently performing the duties of PKR’s deputy president.


He said this in his winding-up speech at the PKR National Congress 2026 at the Melaka International Trade Centre (MITC) in Ayer Keroh here today.


Citing data from the Ministry of Health and National Anti-Drug Agency (AADK), Saifuddin Nasution said that, on average, about 560 out of every 100,000 people are involved in drug addiction.

However, he pointed out that the figures showed a worrying trend in several Malay-majority states, which recorded rates exceeding 1,000 per 100,000 people.


“When I cite figures from Perlis, Kedah, Kelantan and Terengganu, in these states more than 1,000 per 100,000 people (are involved in drug addiction).

“This means that the biggest threat to the Malays is because Malay youths become involved in drugs. Whether by chance or not, the highest number is in the Malay (majority) states,” he said.

He said those aged between 15 and 39 recorded the highest involvement in the unhealthy activity, especially among those with an education level of up to the Sijil Pelajaran Malaysia (SPM).

“When we do not focus on developing the states, you only bring up DAP, DAP, DAP, (but) you do not take care of the states, job opportunities do not exist, (and) young people are involved in drugs.

“If you ask me how Malays are threatened, Malays becoming involved in drugs is a threat to the Malay community,” he added. — Bernama

Anwar’s crackdown on Tabung Haji, FELDA, an act of revenge or good governance?

Anwar’s crackdown on Tabung Haji, FELDA, an act of revenge or good governance?

By CS Ming
3 hours ago

THE mismanagement at Tabung Haji is certainly a strong wake up call for all the Muslims in Malaysia who have been diligently saving their money into the financial institution, hoping to fulfill their spiritual obligation someday.

Only recently, Muar MP, Syed Saddiq, announced in a post on twitter that seven investments made by Tabung Haji lost 100% of its investment.

“The worst one is the Al Rawda investment. More than RM1.5 bil paid upfront to Al-Rawda as the middleman. No bank guarantee. Due diligence in shambles,” said Saddiq, adding that TH’s protection is just a promissory note personally guaranteed.

According to him, the accommodation benefits for pilgrims weren’t delivered as planned either. Rental collections were halted for years and billions have been paid yet there was nothing to show for it. To recap, RM19.9 bil was required to bailout Tabung Haji.

“Tabung Haji does not belong to the government or any political party. It is a trust that belongs to Muslims who save little by little in the hope of reaching the house of Allah,” said Minister of Finance II Datuk Seri Amir Hamzah Azizan during the winding up of the debate in Parliament.

The political fires of war are far from being extinguished, and if there is anything to be said about it, it is about to get bigger.

Prime Minister Datuk Seri Anwar Ibrahim added that the government will expose various governance irregularities alleged to have occurred within FELDA, the land development agency that previously shouldered a heavy debt burden.

“Last week, the Yang di-Pertuan Agong told me not to stop with just Tabung Haji, but to press on. His Majesty asked who is overseeing FELDA now, and I replied that I am. Very well. So, once Tabung Haji is settled, uncover the issues at FELDA as well,” he said.

Syahir

@syahir

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Presiden KEADILAN baru umum dalam Kongres selepas Tabung Haji, FELDA pulak akan disiasat. tindakan tegas bermula sekarang. semalam KJ cakap dalam KS benda ni, PMX akan mula guna kuasa dia betul-betul sekarang. 🫪

11:43 AM · Aug 15, 2026

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But there are parties out there who disagree with the current investigations being carried out towards Tabung Haji and FELDA.

According to @shanindddd in a post on X, Anwar only used his power for real now. Before this he was only trying to please his UMNO ally.

“No choice, given the defeats in the Negeri Sembilan and Johor state elections. Later will become the former Prime Minister,” mocked @Ronnie50604835.

“PMX has revealed his trump card?” said @Farhan_WolfXX.

@x_randomsham_x added that this was similar to the crab in the bucket concept where he was trying to drag other people down now that he was losing.

But netizen @WarriorK31136 thinks the rice has turned to porridge.

“The Malays and the minority groups have already rejected him, only now he wants to open his eyes, oh dear sir,” pointed out @IbnRidwann.

Perhaps, there is no better way to end this fiery topic than @Zaki_Yamani_ who inquired if MARA will be investigated too.

Anwar in a statement last month said the government today pays about RM980 mil every year just to service Felda’s RM10 bil debt.

He said FELDA had once been among the world’s largest and most successful plantation organisations, generating billions of ringgit in annual profits and providing good returns for settlers and their families.—Aug 16, 2026

 

Ronnie Liu appointed PBM info chief

Ronnie Liu appointed PBM info chief

2 hours ago

FMT Reporters

PBM secretary-general Munan Laja says the party's supreme council decided to appoint the former DAP leader to the position at a meeting today.

Former DAP veteran Ronnie Liu announced his entry into Parti Bangsa Malaysia last week.

PETALING JAYA:

Parti Bangsa Malaysia (PBM) has appointed Ronnie Liu as its information chief, a week after he joined the party.

PBM secretary-general Munan Laja said the party’s supreme council decided to appoint the former DAP veteran to the position in a meeting today.

The party also made several other appointments – William Low (deputy information chief), Benny Sieh (treasurer-general) and Sieh Ing Qing (deputy treasurer-general).

Munan added that party president Larry Sng appointed Engga Unchat and Saarah Ali Bashah to the supreme council under the president’s appointee quota.

“It is hoped that these appointments will further strengthen the party’s leadership and machinery as well as boost the spirit of cooperation and commitment among all quarters in elevating the party.

“PBM is confident that this strengthened leadership lineup will continue to make positive contributions towards expanding the party’s activities and advancing PBM’s cause and aspirations for the people,” Munan said in a statement.

Liu, the former state assemblyman for Sungai Pelek in Selangor, announced his entry into PBM on Aug 9.

He said he chose to join PBM after discussions with Sng as its political outlook was the closest to his own, while their experiences complemented each other, with Sng being more familiar with Borneo and Liu with the peninsula.

Sng previously described Liu’s entry into the party as part of its efforts to expand PBM’s leadership.

Political analysts had poured cold water on Sarawak-based PBM’s plans to expand its presence in Peninsular Malaysia, expecting little impact even with Liu leading the charge.