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☆ Bank of Japan keeps key interest rate steady as it treads cautiously on normalizing policy
▼ + stars: | 2024-09-20 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +1 min

The Japanese flag flutters over the Bank of Japan (BoJ) head office building (bottom) in Tokyo on April 27, 2022. The Bank of Japan kept its benchmark interest rate steady at "around 0.25%" — the highest rate since 2008 — at the conclusion of a two-day meeting Friday. Japan's economy has recovered moderately, the central bank said in its official statement, while acknowledging "some weakness has been seen in part." BOJ Governor Kazuo Ueda said last month that the central bank would continue to raise interest rates if the economy and inflation stayed in line with the central bank's projection. On Thursday, The U.S. Federal Reserve cut interest rates by 50 basis points to a range of 4.75% to 5.0%.

Persons: BOJ, Kazuo Ueda Organizations: Bank of Japan, The Bank of Japan, Nikkei, U.S . Federal Reserve Locations: Tokyo

☆ European businesses in China reach a 'tipping point' on whether to invest more
▼ + stars: | 2024-09-10 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

Edgar Su | ReutersBEIJING — European businesses in China have grown so discouraged with the outlook for operating in the country that Beijing must act if the companies are to invest further, according to the EU Chamber of Commerce in China. "We do believe actually that we are in sort of a tipping point situation. Foreign direct investment into China fell by 29.6% during the January to July period versus a year ago, according to China's Ministry of Commerce. Such changes are part of Beijing's pledges to reduce what it calls the negative list, a collection of industries off-limits to foreign businesses in the country. However, Eskelund said such developments, while encouraging, did not move the needle enough for European businesses, especially when members' optimism on profitability in China for the next two years is at an all-time low.

Persons: Edgar Su, Jens Eskelund, Eskelund Organizations: of, Initiative, Reuters, EU Chamber of Commerce, China's Ministry of Commerce Locations: Beijing, China, Reuters BEIJING, Growth

☆ Lady Gaga flutters in dazzling feathery performance to kick off Olympic Games in Paris
▼ + stars: | 2024-07-26 | by ( Dan Heching | ) edition.cnn.com time to read: +1 min

CNN —Lady Gaga was in top form in Paris, France on Friday, when she performed on the banks of the River Seine as part of the grand kickoff to the opening ceremony for the Olympic Summer Games. After proclaiming, “Bonsoir et bienvenue à Paris,” which translates to, “Good evening and welcome to Paris,” Gaga danced and traipsed down a staircase on the riverbank surrounded by her dancers with feathers. At one point, Gaga sat at the piano waiting for an interlude before continuing her performance on the stage. Gaga join performers Celine Dion and Aya Nakamura in performing at the ceremony. It’s the first time the opening ceremony has not been held in a stadium, and it’s truly putting much of Paris on display.

Persons: Gaga, “, ” Gaga, Celine Dion, Aya Nakamura, It’s, CNN’s Antoinette Radford, Kyle Feldscher Organizations: CNN, Olympic, blanketing Locations: Paris, France, blanketing Paris

☆ BOJ to weigh rate hike next week, detail plan to halve bond buying, Reuters reports
▼ + stars: | 2024-07-25 | by ( ) www.cnbc.com time to read: +1 min

The flag of Japan flutters at the Bank of Japan headquarters in Tokyo on Dec. 19, 2023. The Bank of Japan is likely to debate whether to raise interest rates when it meets next week and unveil a plan to roughly halve bond purchases in coming years, sources said, signaling its resolve to steadily unwind its massive monetary stimulus. "The decision will be a close call and a hard one to make," given uncertainty over the consumption outlook, one of the sources said. "It's really a judgment call, in terms of whether to act now or later this year," another person said. While the nine-member board broadly agrees on the need for a near-term rate hike, there is no consensus on whether it should happen next week or later in the year, they said.

Organizations: Bank of Japan, The Bank of, Reuters Locations: Japan, Tokyo, The Bank of Japan

☆ Bank of Japan is expected to trim bond buying by $100 billion in first year, Reuters survey shows
▼ + stars: | 2024-07-02 | by ( ) www.cnbc.com time to read: +1 min

The flag of Japan flutters at the Bank of Japan headquarters in Tokyo on Dec. 19, 2023. Japan bond market participants expect the central bank to trim bond purchases by roughly $100 billion in the first year under a quantitative tightening (QT) plan set for release this month, according to a survey conducted by Reuters. A Reuters survey of 19 banks, brokerages, insurers and asset managers showed they expect the Bank of Japan to trim bond buying by an average 16.1 trillion yen ($99.7 billion) in the first year. That would translate into monthly purchases of 4.65 trillion yen, down from the current pace of around 6 trillion yen. Combined, it would amount to a reduction of roughly 45 trillion yen during the two-year period.

Organizations: Bank of Japan, Reuters Locations: Japan, Tokyo, brokerages

☆ Samsung Electronics’ workers in South Korea go on strike for the first time ever
▼ + stars: | 2024-06-07 | by ( Yoonjung Seo | Diksha Madhok | ) edition.cnn.com time to read: +2 min

Seoul CNN —A labor union at Samsung Electronics in South Korea said many workers went on strike Friday, marking the first such walkout in the smartphone and chipmaking giant’s 55-year history. The Nationwide Samsung Electronics Union (NSEU) said last week that its 28,000 members — just under a quarter of the company’s total workforce in the country — would stage a one-day strike on June 7, following failed negotiations over pay and bonus arrangements. A Samsung spokesperson told CNN that, “there is no impact on production and management activities” as a result of the one-day walkout. The vast majority of the world’s advanced microchips are made in just two places: Taiwan and South Korea. Taiwan’s industry is larger and more dominant, something South Korea is keen to challenge.

Persons: —, Son Woomok, Anthony Wallace, chipmaker Organizations: Seoul CNN, Samsung Electronics, Nationwide Samsung Electronics Union, CNN, Reuters, Samsung, SK Hynix, Micron Technology, Getty, Intel Locations: Seoul, South Korea, AFP, Taiwan

☆ Samsung Electronics' union threatens first ever walkout next week
▼ + stars: | 2024-05-29 | by ( ) www.cnbc.com time to read: +4 min

A Samsung Electronics union in South Korea will begin escalating strike action next week by staging the first ever walkout over demands for higher wages, union officials said on Wednesday. The National Samsung Electronics Union (NSEU), which has about 28,000 members, or more than a fifth of the company's total workforce, said it will stop work for one day on June 7 as part of broader protest measures. Samsung Electronics said in a statement on Wednesday: "We will sincerely engage in discussions with the union." Responding to Wednesday's proposed strike, a coalition of five unions at Samsung affiliates including another Samsung Electronics union questioned the intention behind the strike plan, indicating they would not join the move. Shares of Samsung Electronics closed down 3.1% on Wednesday, compared with the benchmark KOSPI's 1.7% fall.

Persons: Son Woo, mok, NSEU, Wednesday's, Jay Y, Lee Organizations: Samsung, Samsung Electronics, National Samsung Electronics Union, South, Workers Locations: Seoul, South Korea, Hwaseong

☆ Russia says 60 dead, 145 injured in concert hall raid; Islamic State group claims responsibility
▼ + stars: | 2024-03-23 | by ( ) www.cnbc.com time to read: +8 min

Gunmen who opened fire at a Moscow concert hall killed more than 60 people and wounded over 100 while sparking an inferno, authorities said on March 23, 2024, with the Islamic State group claiming responsibility. The prosecutor's office said several men in combat fatigues entered the concert hall and fired on concertgoers. Working to extinguish the blaze continues at Crocus City Hall concert venue near Moscow, Russia after reports of a shooting incident on March 23, 2024. Working to extinguish the blaze continues at Crocus City Hall concert venue near Moscow, Russia after reports of a shooting incident on March 23, 2024. An injured woman is transported to an ambulance near the Crocus City Hall concert venue following a reported shooting incident, near Moscow, Russia.

Persons: Stringer, Vladimir Putin, Sergei Sobyanin, Putin, fatigues, Ali Cura, Dave Primov, Primov, Aymenn Jawad, Dmitry Medvedev, Mykhailo Podolyak, Volodymyr Zelenskyy, John Kirby, Maksim Blinov Organizations: Crocus City, Gunmen, Islamic, Afp, Getty, Associated Press, Moscow, Health, Crocus City Hall, Anadolu, Russian, U.S, AP, Soviet Union, Russia's Security, White House National Security Council, Embassy, Sputnik Locations: Russian, Crocus, Krasnogorsk, Moscow, U.S, Afghanistan, Russia, Ukraine, Moscow's, Sinai, Egypt, Syria, Iraq, Africa, Soviet, Islamic State, Kaluga, Ingushetia, Russia's Caucasus

☆ China's annual parliamentary meeting has ended. Here are the key takeaways
▼ + stars: | 2024-03-11 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China's weeklong annual parliamentary meetings ended on Monday and for the first time in decades, the Chinese premier did not host a press conference. Such press conferences were a rare instance of press interaction with the highest levels of China's government. To be clear, the annual gathering of the top leadership is typically ceremonial in nature. The real power lies with the ruling Communist Party, which is headed by Xi, who is general secretary of the party and president of China. Here are some highlights of what was announced at this year's week-long parliamentary meeting, which started Tuesday last week and ended Monday.

Persons: Xi Jinping, Xi Organizations: of, Initiative, People's Congress, National People's, Communist Party Locations: Beijing, China, BEIJING

☆ Chinese leaders to hold annual 'Two Sessions' meeting as debate about bazooka-like stimulus swirls
▼ + stars: | 2024-03-04 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Edgar Su | ReutersBEIJING — China is set this week to kick off its annual parliamentary meetings, which investors are watching closely for signals on economic stimulus. China's economic policy is typically set at an annual meeting in December by leaders within the ruling Communist Party of China. GDP and other economic targetsThe Chinese People's Political Consultative Conference, an advisory body, is set to kick off its annual meeting on Monday. "On balance, the additional fiscal impulse this year, assuming a bazooka-like fiscal package is not forthcoming, is unlikely to be particularly large." China's foreign minister and premier typically hold press conferences during the parliamentary meetings, which generally end in mid-March.

Persons: Edgar Su, Wang Jun, Wang, Zong Liang, Louise Loo, Loo, Goldman Sachs, Bank of China's Zong Organizations: of, Initiative, Reuters, Huatai Asset Management, CNBC, Communist Party of China, U.S, Political Consultative Conference, National People's, Oxford Economics, Industry, Information Technology, Science, Technology, Housing, Bank of, Communist Party's, Communist Party of Locations: Beijing, China, Reuters BEIJING, U.S . Federal, RMB3.8tn, Bank of China's

☆ China doubles down on national security, expanding its state secrets law
▼ + stars: | 2024-02-28 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Edgar Su | ReutersBEIJING — China is beefing up national security measures by expanding its protections of state secrets to include a broad category of "work secrets." The new rules, set to take effect May 1, describe how precautions taken for state secrets should also apply to unclassified information known as work secrets. "There is a risk that individual departments will overzealously identify matters as 'work secrets,'" Daum said. He also founded the website China Law Translate, which published an unofficial English translation of the new rules. Growing national security concernsThe updated state secrets law comes as Beijing and Washington increasingly cite national security risks when announcing new restrictions for business.

Persons: Edgar Su, Xi Jinping, Jeremy Daum, Yale Law School's Paul Tsai, Daum, Jeremy Daum Yale Law School's Paul Tsai, Gabriel Wildau Organizations: of, Initiative, Reuters, Yale Law, Yale Law School's Paul Tsai China Center, China, Jeremy Daum Yale Law, Jeremy Daum Yale Law School's Paul Tsai China Locations: Beijing, China, Reuters BEIJING, Washington

☆ Moody's cuts China credit outlook, citing lower growth, property risks
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +5 min

[1/2] A Chinese national flag flutters at the headquarters of a commercial bank on a financial street near the headquarters of the People's Bank of China, China's central bank, in central Beijing November 24, 2014. "The outlook change also reflects the increased risks related to structurally and persistently lower medium-term economic growth and the ongoing downsizing of the property sector," Moody's said. "Moody's concerns about China's economic growth prospects, fiscal sustainability and other aspects are unnecessary," the ministry said. STRUGGLING FOR TRACTIONMost analysts believe China's growth is on track to hit the government's target of around 5% this year, but that compares with a COVID-weakened 2022 and activity is highly uneven. Analysts widely agree that China's growth is downshifting from breakneck expansion in the past few decades.

Persons: Kim Kyung, Moody's, Ken Cheung, Pan Gongsheng, COVID, Goldman Sachs, Gnaneshwar Rajan, Kevin Yao, Tom Hogue, Kim Coghill Organizations: People's Bank of China, REUTERS, Mizuho Bank, Economic Work Conference, Fitch, China's Finance Ministry, International Monetary Fund, Thomson Locations: Beijing, Hong Kong, China, outflows, Bengaluru

☆ Hong Kong set to rebound after hitting a one-month low, Asia markets fall across the board
▼ + stars: | 2023-11-30 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Edgar Su | ReutersAsia-Pacific markets fell across the board on Thursday ahead of key economic data from the region. South Korea's industrial output numbers surprised the market, registering a 3.5% fall compared to expectations of a 0.5% rise from economists polled by Reuters. Japan's Nikkei 225 slid 0.25% and extended its three-day losing streak, with the Topix also down by 0.14%. South Korea's Kospi also fell 0.29%, while the small-cap Kosdaq was marginally above the flatline. Futures for Hong Kong's Hang Seng index stood at 17,108, pointing to a rebound after the HSI hit a one month low on Monday and closed at 16,993.44.

Persons: Edgar Su, Kospi, HSI Organizations: of, Initiative, Reuters, Nikkei Locations: Beijing, China, Reuters Asia, Pacific, Japan, Australia

Local governments plan to use the proceeds of the latest bond sales to purchase equity or convertible bonds from smaller banks, most of them state-owned, effectively recapitalising them, according to the deal prospectuses. DEEPER IN DEBTThe intensified efforts to support smaller banks also come amid growing worries about the impact of ballooning local government debt on the economy. While policymakers are highly concerned over rising debt levels, Beijing has little option but to support smaller banks to contain spillover risks, analysts said. It was not immediately clear if the central authorities had given any guidance to the local governments on recapitalising smaller banks, and who were the buyers of these special-purpose bonds. "Local governments are a likely the first line of defense whenever regional banks become stressed," they said.

Persons: Kim Kyung, Gavekal, Zhang Xiaoxi, Pan Gongsheng, Ziyi Tang, Ryan Woo, Sumeet Chatterjee, Kim Coghill Organizations: People's Bank of China, REUTERS, Rights, China Electronic Local Government Bond, Authorities, National Financial Regulatory Administration, International Monetary Fund, Beijing, Thomson Locations: Beijing, Rights BEIJING, China, Henan, China's, Liaoning, Yunnan, Inner Mongolia

☆ New ECB rating agency Scope puts greater weight on euro zone protection mechanisms
▼ + stars: | 2023-11-27 | by ( Marc Jones | ) www.reuters.com time to read: +5 min

While the euro zone has pledged to do "whatever it takes" and jointly issued debt for the first time during the pandemic, its debt load remains eye-watering. Scope assigns Italy a "stable" outlook, but "risks remain", Shen said, "given the weak growth and fiscal outlook". Reuters GraphicsNEXT CRISISThe ECB uses the best rating available from its approved agencies to determine a bond's collateral value when commercial banks borrow from it. Last week's Dutch election win by the far-right Geert Wilders could also have rating implications, Shen said. "Governance risks are a challenge in the longer run for one of the world’s remaining AAA-rated sovereigns...But the rating is not imminently at risk."

Persons: Yorgos, Moody's, Dennis Shen, Fitch, DBRS Morningstar, Shen, DBRS, bode, Geert Wilders, Marc Jones, Kirsten Donovan Organizations: REUTERS, Companies, AAA, European Central Bank, Reuters, Reuters Graphics NEXT, ECB, Thomson Locations: Athens, Italy, France, Berlin, U.S, Greece, Spain, Portugal, Cyprus, Rome, Canada, Dutch

☆ North Korea, US envoys engage in rare, public sparring match at UN
▼ + stars: | 2023-11-27 | by ( Michelle Nichols | ) www.reuters.com time to read: +3 min

A North Korean flag flutters at the propaganda village of Gijungdong in North Korea, in this picture taken near the truce village of Panmunjom inside the demilitarized zone (DMZ) separating the two Koreas, South Korea, July 19, 2022. Formally known as the Democratic People's Republic of Korea (DPRK), North Korea has been under U.N. sanctions for its ballistic missile and nuclear programs since 2006. Denuclearization talks between North Korea, South Korea, China, the United States, Russia and Japan stalled in 2009. Kim said that until "the persistent military threat" was eliminated, North Korea would continue to strengthen its capabilities. China and Russia say joint military drills by the United States and South Korea provoke Pyongyang, while Washington accuses Beijing and Moscow of emboldening North Korea by shielding it from more sanctions.

Persons: Kim Hong, Pyongyang's, Linda Thomas, Kim Song, Kim, Thomas, Greenfield, Denuclearization, Kim Jong Un, Donald Trump, Michelle Nichols, Grant McCool, Sandra Maler Organizations: REUTERS, UNITED NATIONS, United Nations, North Korea sparred, Security, North Korean, DPRK, Democratic People's, United, North, . Security, U.S, Thomson Locations: Gijungdong, North Korea, Panmunjom, South Korea, United States, Greenfield, Democratic People's Republic of Korea, DPRK, Pyongyang, U.S, China, Russia, Japan, Korea, Britain, France, Washington, Beijing, Moscow, emboldening North Korea

☆ North Korea scraps military deal with South, vows to deploy new weapons at border
▼ + stars: | 2023-11-22 | by ( Soo-Hyang Choi | ) www.reuters.com time to read: +5 min

A North Korean flag flutters at the propaganda village of Gijungdong in North Korea, in this picture taken near the truce village of Panmunjom inside the demilitarized zone (DMZ) separating the two Koreas, South Korea, February 7, 2023. Russia and North Korea have denied arms deals but have promised deeper cooperation, including on satellites. South Korea resumed the use of crewed and uncrewed reconnaissance aircraft in the border area on Wednesday, Yonhap news agency reported. Critics have said that the pact weakened Seoul's ability to monitor North Korea, and that Pyongyang had violated the agreement. South Korea has said the North Korean satellite was believed to have entered orbit, but it would take time to assess whether it was operating normally.

Persons: Kim Hong, Kim Jong Un, Vladimir Putin, Moon Jae, Moon Chung, Moon, Kim, Critics, Bruce Klingner, Klingner, Soo, hyang Choi, Josh Smith, David Brunnstrom, Sonali Paul, Ed Davies, Gerry Doyle Organizations: REUTERS, Rights, North, ., U.S . Department of State, CMA, ROK, South Korean, Yonsei University, CIA, U.S, Heritage Foundation, North Korean, Thomson Locations: Gijungdong, North Korea, Panmunjom, South Korea, Rights SEOUL, Seoul, Russia, Pyongyang, . North Korea, Korea, Washington

☆ The noise from pickleball courts is driving everyone crazy. Scientists are trying to come up with a solution.
▼ + stars: | 2023-11-21 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +7 min

AdvertisementNow, scientists are looking into everything from acoustic fabrics to court spacing in a bid to come up with a solution. Why is pickleball noise so annoying? The engineer founded Pickleball Sound Mitigation LLC, a firm that specializes exclusively in the sport, per The Hustle. AdvertisementThe organization hopes the "quiet category" could soon "encompass a wide range of products, including paddles, balls, paddle covers, and noise mitigation screens for pickleball courts," the statement. USA Pickleball is also compiling a list of acoustic experts trained to help dampen the noise of the game, per Axios.

Persons: —, Sue, Ellen Welfonder, she'd, Nicole Laffan, Laffan, RJ Sangosti, Kausik Sarkar, Braxton Boren, WUSA9, Boren, Bob Unetich, Unetich, Pickleball, Carl Schmits Organizations: Service, Washington Post, Fitness Industry Association, New York Times, Northeastern Global, MediaNews, Denver, Getty, George Washington University, University, Carnegie Mellon University, USA Locations: British Columbia, Washington, Denver , Colorado, USA

The stockpile continues to grow, the reports say, even though Iran has consistently denied wanting nuclear arms. "The political debate is really not going to be about negotiating with Iran, it's going to be about confronting Iran," he said. This week's IAEA reports showed Iran was making steady nuclear progress and indicated that Tehran continued to stonewall the agency in monitoring its work. Two diplomats said all that could be done in coming months was to support IAEA chief Rafael Grossi's efforts to strengthen oversight of Iran's nuclear programme. "It's way too early to say whether Iran will become a nuclear state or whether it will stay a threshold state like now," one diplomat said.

Persons: Leonhard Foeger, Biden, Trump, Donald Trump, Joe Biden, Israel, Robert Einhorn, Rafael Grossi's, John Irish, Francois Murphy, Arshad Mohammed, Edmund Blair Organizations: International Atomic Energy Agency, IAEA, REUTERS, Trump PARIS, Reuters, U.S, Hamas, Pentagon, U.S . State Department, IAEA Washington, Governors, Thomson Locations: Vienna, Austria, stoke, WASHINGTON, VIENNA, United States, Tehran, Gaza, Iran, European, Washington, Iraq, Syria, U.S, IRAN, IAEA, stonewall, Paris

Kindergarten was in full swing for 30 children from Arab al-Aramshe, a village next to Israel’s border with Lebanon. It is a logistically complex and costly operation for the Israeli state, which is paying to house the evacuees indefinitely in 280 hotels and guesthouses scattered across the country. In the south, where many of the evacuees survived the Hamas attacks, it has recruited specialists to offer trauma counseling. Hunched over a laptop at the bar, Adeeb Mazal, Arab al-Aramshe’s community manager, tried to keep track of his vagabond villagers. And he worried about their mental health, with the idleness nourishing their fears about Hezbollah.

Persons: “, ”, Dalal Badra, Adeeb Mazal, ‘, ’ ”, Mazal Organizations: Golden, Israel’s Education Ministry, Jesus Locations: Arab, Lebanon, Nazareth, Gaza, Israel

☆ North Korea lashes out at U.N. Command over meeting in Seoul
▼ + stars: | 2023-11-12 | by ( ) www.reuters.com time to read: +2 min

A North Korean flag flutters at the propaganda village of Gijungdong in North Korea, in this picture taken near the truce village of Panmunjom inside the demilitarized zone (DMZ) separating the two Koreas, South Korea, July 19, 2022. REUTERS/Kim Hong-Ji/Pool/File Photo Acquire Licensing RightsSEOUL, Nov 13 (Reuters) - North Korea on Monday called for the United Nations Command to be dissolved calling it an "illegal war organization" over a meeting which is scheduled to take place between the member states in South Korea later this week, state media KCNA reported. The DPRK stands for North Korea's official name, the Democratic People's Republic of Korea. North Korea's criticism comes a day after U.S. Defence Secretary Lloyd Austin met his South Korean counterpart Shin Won-sik in Seoul on Sunday with Japanese Defence Minister Minoru Kihara for a trilateral meeting. They agreed to start as planned a real-time data sharing scheme on North Korean missiles in December and condemned growing military cooperation between North Korea and Russia as a violation of U.N. resolutions during the meeting.

Persons: Kim Hong, Lloyd Austin, Shin Won, Minoru Kihara, Hyunsu Yim, Sandra Maler Organizations: REUTERS, Rights, United Nations Command, UNC, Command, Institute for Disarmament, Peace, DPRK Foreign Ministry, DPRK, North, Democratic People's, U.S . Defence, South Korean, Japanese, Korean, Thomson Locations: Gijungdong, North Korea, Panmunjom, South Korea, Rights SEOUL, U.S, Seoul, Pyongyang, Democratic People's Republic of Korea, Russia

☆ The Scenes of Genocide I Saw in Israeli Morgues
▼ + stars: | 2023-11-11 | by ( Qanta A. Ahmed | ) www.wsj.com time to read: 1 min

Review and Outlook: The Secretary-General abandons Israel, a state the U.N. helped to create. Images: Zuma Press/AP/Getty Images Composite: Mark KellyA fetal heartbeat flutters and then stills, a bullet lodged in the embryonic heart. A body that has been decomposing for almost three weeks lies on the autopsy table, riddled with knife and bullet wounds. As an observant Muslim, I felt a duty to come and bear witness. What I saw will remain with me forever.

Persons: Israel, Mark Kelly, Kobi Valer Organizations: Zuma Press, Foreign Affairs Ministry, Israel Defense Forces Locations: Israel

☆ A Brunch for Both the Living and the Dead
▼ + stars: | 2023-11-01 | by ( Becky Duffett | ) www.nytimes.com time to read: +1 min

Stepping into the courtyard of Bombera, the acclaimed Mexican restaurant in Oakland, Calif., always feels like arriving at a party. Papel picado in marigold orange and saffron yellow flutters overhead, seemingly waving guests into the space, an airy former firehouse. But the restaurant reaches its full splendor in the fall, when the dining room is decorated in preparation for Mexican Day of the Dead. “From day one, she’s been helping us make sure that Bombera’s dressed up in bows,” Rice-Cisneros said. And when Momoca, who is based in Mexico City, mentioned last year that Japan also honors the dead by decorating altars, during the Obon spirit festival, Rice-Cisneros suggested she make one for Bombera, hatching a plan to unveil the installation during a party that would bring together their two communities.

Persons: Papel, Dominica Rice, Cisneros, Momoca, she’s, ” Rice, Rice Organizations: Día de Locations: Bombera, Oakland, Calif, Día de los, Mexico City, Japan

☆ China sets the tone on real estate, local government support at a high-level meeting
▼ + stars: | 2023-11-01 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China signaled support for property developers and resolving local government debt problems in a high-level financial meeting that ended Tuesday, according to a state media readout. Such twice-a-decade financial work conferences tend to set long-term policy directions, which then pave the way for more detailed moves. "Policymakers would establish long-term effective mechanism to resolve local government debt and 'optimize the structure of central and local government debt,'" the report said. Beijing began cracking down on property developers' high reliance on debt for growth in 2020. The massive real estate sector has slumped amid developer defaults and falling home sales.

Persons: Goldman Sachs, Maggie Wei Organizations: of, Initiative Locations: Beijing, China, BEIJING — China

☆ North Korea's closure of Africa embassies a sign of economic hardships - South's ministry
▼ + stars: | 2023-10-31 | by ( Hyonhee Shin | ) www.reuters.com time to read: +2 min

The North Korean flag flutters at the North Korea consular office in Dandong, Liaoning province, China April 20, 2021. Both Angola and Uganda have forged friendly ties with North Korea since the 1970s, maintaining military cooperation and providing rare sources of foreign currency such as statue-building projects. Seoul's unification ministry, which handles inter-Korean affairs, said the pullout reflected the impact of international sanctions aimed at curbing funding for the North's nuclear and missile programs. "This can be a sign of North Korea's difficult economic situation, where it is difficult to maintain even minimal diplomatic relations with traditionally friendly countries." Japan's Yomiuri Shimbun newspaper reported last week, citing unnamed sources, that North Korea was planning to shut down at least 10 diplomatic missions, including a consulate in Hong Kong, largely because of economic difficulties.

Persons: Tingshu Wang, Hyonhee Shin, Hyunsu Yim, Gerry Doyle Organizations: North, REUTERS, Rights, Yomiuri Shimbun, Thomson Locations: North Korea, Dandong, Liaoning province, China, Rights SEOUL, Angola, Uganda, Korea, Hong Kong

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