Town Hall News

BEIJING (Reuters) – Nanjing has eliminated curbs on home buying, the first big Chinese city to do so, as policymakers scramble to arrest a deepening crisis in the massive property sector, which is is weighing on the world’s second-biggest economy. China’s authorities in recent weeks have rolled out a series of measures, such as easing borrowing rules, to support the debt-riddled property sector, which accounts for one-quarter of China’s economic […]

By Tyrone Siu and Farah Master HONG KONG (Reuters) -Torrential rain deluged Hong Kong on Friday leading to widespread flooding across the densely packed city, submerging streets, shopping malls and metro stations, as authorities shut schools and asked workers to stay at home. The Chinese special administrative region saw the highest hourly rainfall since records began 140 years ago. Cascades of water tumbled down the city’s mountainous terrain as authorities […]

By Yuka Obayashi and Muyu Xu TOKYO/SINGAPORE (Reuters) -Oil extended losses on Friday, further receding from this week’s 10-month highs, as fears about the health of China’s slowing economy and a stronger U.S. dollar wiped out the gains triggered by supply cuts from major producers Saudi Arabia and Russia. Brent crude futures dropped 51 cents, or 0.6%, to $89.41 a barrel by 0355 GMT, while U.S. West Texas Intermediate crude […]

MEXICO CITY (Reuters) -Mexico’s president on Thursday vigorously backed his party’s selection of former Mexico City Mayor Claudia Sheinbaum as its candidate to succeed him in 2024, dismissing objections about the process by her main rival, who threatened to quit the party. The ruling National Regeneration Movement (MORENA) declared Sheinbaum the winning candidate a few hours after her closest competitor, ex-foreign minister Marcelo Ebrard, said the primary contest had been […]

(Reuters) – Hurricane Lee has intensified to a Category 4 storm and is “rapidly strengthening” as it churns through the Caribbean on Thursday, the U.S. National Hurricane Center reported. In Puerto Rico and the U.S. Virgin Islands, the Federal Emergency Management Agency (FEMA) has pre-deployed assets and is coordinating with local officials ahead of the storm, the Biden administration said. The hurricane was packing winds up to 130 mph (215 […]

By Nelson Acosta HAVANA (Reuters) – Cuban authorities said they had arrested 17 people on charges related to a ring of human traffickers that allegedly lured young Cuban men to serve in the Russian military amid the Ukraine conflict. Cuba earlier this week revealed authorities were working to “neutralize and dismantle” the network, which it said operated both on Cuban soil and in Russia. “As a result of the investigations, […]

BANGKOK (Reuters) – Thailand’s economy may grow as forecast this year, helped by public consumption and investment after the formation of a new government, Deputy Finance Minister Krisada Chinavicharana said on Friday. Private consumption and tourism recovery are also helping, he told a business event. The ministry has forecast economic growth of 3.5% this year. The new government led by Prime Minister Srettha Thavisin, who is also finance minister, is seeking […]

BEIJING (Reuters) – China’s Huawei Technologies on Friday started presales for its Mate 60 Pro+ smartphone, adding a new version to a series that has captured global attention for revealing the Chinese tech firm’s success in beating back against U.S. sanctions. With no prior advertising, as it did for the launch of the Mate 60 Pro smartphone last week, the company announced on its official online store that it would […]

By Josh Smith and Soo-hyang Choi SEOUL (Reuters) – North Korea has launched its first operational “tactical nuclear attack submarine” and assigned it to the fleet that patrols the waters between the Korean peninsula and Japan, state media said on Friday. Submarine No. 841 – named Hero Kim Kun Ok after a North Korean historical figure – will be one of the main “underwater offensive means of the naval force” […]