By Liangping Gao and Ryan Woo BEIJING (Reuters) – China’s property sales between June and May showed the largest monthly drop this year, based on sales by floor area, and investment in property also slumped, official data showed on Monday, reinforcing the case for more stimulus to bolster a waning economic recovery. Property sales by…
SEOUL (Reuters) – South Korea’s central bank said on Monday there was a need to manage financial stability in addition to price risks as the country’s high household debts have started to climb. “In terms of monetary policy, it should consider financial stability more actively to prevent excessive leveraging or risky asset investments when monetary…
BEIJING (Reuters) -China’s June crude steel output rose 1.1% from May and 0.4% from a year earlier, the statistics bureau said on Monday, as mills were encouraged to ramp up production after steel prices rose. The world’s largest steel producer manufactured 91.11 million metric tons of the ferrous metal last month, data from the National…
(Reuters) – Traffic on the road-and-rail bridge linking Russia and the Crimean peninsula was stopped early on Monday due to an “emergency situation,” the Russian-backed head of Crimea’s administration, Sergei Aksyonov said. The RBC-Ukraine news agency reported that explosions were heard on the bridge, with Russian military bloggers reporting two strikes. The bridge is a…
By Borja Suarez (Reuters) -Firefighters were trying to contain a wildfire which burned out of control and forced the evacuation of at least 4,000 people on the Spanish island of La Palma, authorities said on Sunday. The fire on La Palma started in the early hours of Saturday in El Pinar de Puntagorda, a wooded…
BEIJING (Reuters) – China’s industrial output grew 4.4% in June from a year earlier, unexpectedly accelerating from 3.5% seen in May, but demand remains lukewarm amid a bumpy post-COVID economic recovery. The data released by the National Bureau of Statistics (NBS) on Monday came above expectations for a 2.7% increase in a Reuters poll of…
SHANGHAI/SINGAPORE (Reuters) -China’s central bank rolled over maturing medium-term policy loans and kept the interest rate unchanged as expected on Monday, however markets expect authorities will need to unleash more stimulus to support slowing economic growth. The economic recovery has lost momentum after an initial burst in the first quarter, prompting monetary authorities to lower…
WASHINGTON (Reuters) – Representative Pramila Jayapal, who heads a large group of progressive Democrats in the U.S. Congress, on Sunday apologized for calling Israel a racist state as Democratic leaders in the House of Representatives pushed back against her initial declaration. “I do not believe the idea of Israel as a nation is racist,” Jayapal…
By John Irish PARIS (Reuters) -British-born actress and singer Jane Birkin, a 1960s wildchild who became a beloved figure in France, has died in Paris aged 76. The French Culture Ministry said the country had lost a “timeless Francophone icon”. Local media reported she had been found dead at her home, citing people close to…
By Liangping Gao and Ryan Woo BEIJING (Reuters) -China’s new home prices were unchanged in June, the weakest result this year, data showed on Saturday, increasing pressure on policymakers for more stimulus as the country’s economic recovery falters. The flat result from a month earlier, with rises slowing nationwide, was below May’s 0.1% gain, according…
