TODAY’S EXCHANGE RATES:

Sat., Jun 08, 2013

1 USD = 1636.50 TZS

1 EUR = 2163.2893 TZS

1 GBP = 2545.821 TZS

1 ZAR = 163.927 TZS

US, CHINESE PRESIDENTS TO MEET IN CALIFORNIA ON TOUGH ISSUES

U.S. President Barack Obama and his Chinese counterpart Xi Jinping are to meet in California Friday and Saturday to discuss important issues in an informal setting.

 Obama will host the Chinese president at Sunnylands estate near Los Angeles, where the two leaders will address U.S. concerns about China's reported cyberspace attacks on the U.S. military and businesses as well as China's demands for easier access to U.S. markets.

 U.S. Defense Minister Chuck Hagel issued a stern warning to Beijing at a recent security forum in Singapore, saying that Internet hacking is a danger to every country including China. The two countries are expected to work on a cyber security code.

 

 

 President Xi is expected to express China's concern about increased U.S. engagement in the Asia-Pacific region. He also will address complaints by some Chinese businesses that Washington is creating obstacles for their investments in the United States.

 North Korea's nuclear program is expected to be high on the agenda during the two days of talks. The impoverished and isolated communist country depends heavily on China for aid and trade. Beijing maintains close ties with Pyongyang, but North Korea's belligerent rhetoric, a rocket launch and another nuclear test in the past year have strained even China's patience. President Xi has called on North Korean leaders to return to nuclear disarmament talks.

 President Obama met with the Chinese leader last year when Xi was still vice president. That meeting in the Oval Office of the White House was a more formal one.

 The Chinese leader arrives in California after official visits to Mexico, Costa Rica and Trinidad.