Jakarta floods leave dozens dead, 60,000 displaced
Jakarta – Severe flooding in Jakarta that’s left swaths of the capital underwater has killed at least 30 people and forced tens of thousands to flee their homes, according to Indonesia’s disaster agency. Torrential rains have been pounding the greater Jakarta region … Continue reading Jakarta floods leave dozens dead, 60,000 displaced
China to build over 4,000 km of new railway tracks
Beijing – China plans to build at least 4,000 kilometers of new railway lines this year, including 2,000 km of high-speed lines, the country’s top rail operator said on Thursday. The planned development of new railways this year is part … Continue reading China to build over 4,000 km of new railway tracks
China halts Shanghai-London stock link
HONG KONG/LONDON – China has temporarily blocked planned cross-border listings between the Shanghai and London stock exchanges because of political tensions with Britain, five sources told Reuters. Suspending the Shanghai-London Stock Connect scheme casts a shadow over the future of … Continue reading China halts Shanghai-London stock link
China-produced Tesla on sale in January
Shanghai – The first batch of vehicles produced by U.S. electric carmaker Tesla Inc.’s overseas plant in Shanghai was delivered Monday. Fifteen Model 3 cars built in Shanghai were handed over to company employees at the Shanghai facility. And deliveries … Continue reading China-produced Tesla on sale in January
China plans to reduce economic risks
BEIJING – As China struggles to deal with the slowdown of the world’s second-largest economy, it has embarked on a new strategy of placing financial experts in provinces to manage risks and rebuild regional economies.Since 2018, President Xi Jinping has … Continue reading China plans to reduce economic risks
China plans major infrastructure investments
Beijing – China plans 800 billion yuan ($114.38 billion) in railway investment, 1.8 trillion yuan in highway and waterway investment and 90 billion yuan in civil aviation investment in 2020, state radio said, citing Minister of Transport Li Xiaopeng as … Continue reading China plans major infrastructure investments
China: Risk management in housing market
Beijing – China will curb financial risks in the rental housing market by tightening lending to rental housing companies and capping the ratio of their rental income from loans taken by tenants at 30%, the housing ministry said on Wednesday. … Continue reading China: Risk management in housing market
South Korean firm invests in Bago power project
Yangon – South Korea’s MCM Power Company will invest over US$35 million on a power generation and distribution project in Pyay township, Bago, according to U Thant Sin Lwin, Director-General of the Directorate of Investment and Company Administration (DICA). The … Continue reading South Korean firm invests in Bago power project
Philippines: Typhoon kills at least 13
MANILA – A typhoon that struck the central Philippines over Christmas has killed at least 13 people, disaster agency officials said on Thursday. Typhoon Phanfone hit the Philippines late on Tuesday with winds of up to 120 kph (75 mph) … Continue reading Philippines: Typhoon kills at least 13
China to reduce import tariffs on key commodities
Beijing – China is to reduce tariffs on more than 850 goods including frozen pork, hi-tech components and vital medicines, in a move billed at opening the economy to freer international trade. The reduction has been approved by the State … Continue reading China to reduce import tariffs on key commodities