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Huawei opens Saudi cloud data center

Chinese tech giant Huawei announced on Monday the opening of a cloud data center in Riyadh, Saudi Arabia, as part of its efforts to expand its online service offerings in the Middle East. Huawei said in a statement that the new center will become a core data center for Huawei Cloud Services in the Middle East, Central Asia and Africa, "offering innovative, reliable, secure and sustainable cloud services". The new data center in the Saudi capital will provide a range of cloud services, including infrastructure, databases, big data and artificial intelligence.

Central bank conducts reverse repos

China's central bank conducted 14 billion yuan ($1.95 billion) in seven-day reverse repos at an interest rate of 1.8 percent on Tuesday. The move aims to keep liquidity in the banking system reasonable and ample, the People's Bank of China said in a statement. A reverse repo is a process by which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.

Xinhua - China Daily