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☆ China's imports unexpectedly drop in June, but exports beat forecasts
▼ + stars: | 2024-07-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Cfoto | Future Publishing | Getty ImagesBEIJING — China's imports fell in June, missing expectations for slight growth, while exports rose more than expected, customs data released Friday showed. China's imports fell by 2.3% in June from a year ago in U.S. dollar terms. Those figures lifted year-to-date imports by 2%, and exports by 3.6% in the first six months compared with the same period a year earlier. watch nowEU's trade with China fell in the first six months of 2024, with imports and exports both declining. China's trade with the U.S. was down slightly in dollar terms during the first half of the year, as imports from the U.S. fell 4.9%, though exports rose 1.5%.

Organizations: Getty, BEIJING, U.S ., Association of Southeast Asian Nations, European Union, U.S Locations: Qingdao, Shangdong, China, U.S, Brazil

☆ Suspected carjacker shot outside home of Supreme Court Justice Sonia Sotomayor
▼ + stars: | 2024-07-09 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +1 min

Supreme Court Justice Sonia Sotomayor speaks during a service for retired Supreme Court Justice Sandra Day O'Connor in the Great Hall at the Supreme Court in Washington, D.C., on Dec. 18, 2023. Marshal tasked with protecting Supreme Court justices' homes shot an alleged armed carjacker near the Washington residence of Associate Justice Sonia Sotomayor last week, authorities said Tuesday. The suspect, 18-year-old Kentrell Flowers of Southeast D.C., allegedly pulled a handgun on the marshal, who was in a parked car in the Northwest section of the city around 1:15 a.m. The marshal drew his own gun and "fired several shots at the suspect," the MPD said. Another marshal in a separate vehicle also fired at Flowers, who suffered non-life-threatening injuries, police said.

Persons: Sonia Sotomayor, Sandra Day O'Connor, Flowers Organizations: Washington , D.C, U.S, Southeast D.C, Metropolitan Police Department, Police Locations: Washington ,, Washington, Southeast

☆ Russia rebuilt its war machine 'faster than we expected' and is now cranking out artillery shells at a breakneck pace, NATO defense official says
▼ + stars: | 2024-07-09 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

Read previewRussia has successfully rebuilt its "war-stage" economy much faster than expected, and it is now cranking out far more artillery ammunition than it was prior to the beginning of the Ukraine war, a NATO defense chief said Tuesday. Before Russia's full-scale invasion of Ukraine in February 2022, Moscow was producing up to 400,000 152mm rounds per year. But that figure has since swelled to 2 million rounds annually, according to Laurynas Kasčiūnas, Lithuania's minister of national defense. Russian Defense Ministry Press Service via APDespite international efforts to inflict economic pain on Russia over its war, through actions like sanctions, Kasčiūnas said Moscow's "war-stage economy" has recovered "faster than we expected." Dmytro Smolienko / Ukrinform/Future Publishing via Getty ImagesKasčiūnas delivered his remarks alongside Estonian Defense Minister Hanno Pevkur and Latvian Defense Minister Andris Sprūds.

Persons: —, Laurynas, Kasčiūnas, Vladimir Putin, Putin, Dmytro Smolienko, Hanno Pevkur, Andris Sprūds Organizations: Service, NATO, Business, POLITICO, Russian Defense Ministry Press Service, —, Publishing, Getty, Estonian Defense, Latvian Defense Locations: Russia, Ukraine, Moscow, Soviet, Washington ,, Europe, Zaporizhzhia Region, Baltic

☆ Live Updates: Beryl Expected to Hit Texas as a Hurricane
▼ + stars: | 2024-07-07 | by ( Isabelle Taft | ) www.nytimes.com time to read: +4 min

Beryl was forecast to bring winds of up to 110 miles per hour to parts of southeast Texas by early Monday. Texans are unusually familiar with power outages: The state had more weather-related power outages from 2000 to 2021 than any other, according to the advocacy organization Climate Central. In 2008, Hurricane Ike left two million customers across eastern Texas without power for three days after the storm. Hurricane Rita, in 2005, also caused widespread power outages lasting as long as seven days in some Texas counties. Texas officials, electricity companies and individuals were all thinking about the grid as Beryl churned through the Gulf of Mexico.

Persons: Nim Kidd, Beryl, Hurricane Ike, Hurricane Harvey, Ike, Harvey, Hurricane Rita, Gov, Dan Patrick, Thomas Muñoz, Muñoz, Robert DeShazo, “, ” Organizations: Texans, Texas Division, Emergency Management, Monday, Climate Central, Public, Commission, Energy, AEP Texas, Facebook, Corpus Christi Locations: Austin, Texas, Louisiana, Houston, U.S, Hurricane, Gulf of Mexico, South, West Texas, Ohio, Victoria, Rio Grande Valley

☆ E-commerce firm Shopee agreed to adjust its practices in Indonesia after watchdog says it violated competition law
▼ + stars: | 2024-06-26 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

(Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images)Shopee and its courier service Shopee Express agreed to adjust its current practices after admitting to breaching a competition rule in Indonesia, the country's watchdog said on Wednesday. "Shopee and Shopee Express admitted that they had violated Law no. KPPU said Shopee proposed adjustments to its current practices on June 20 which were approved by the commission council. "Shopee Indonesia attended a meeting with KPPU on 25 June to discuss points of the integrity pact that was shared by KPPU last week. Last month, KPPU revealed its preliminary investigation found that Shopee allegedly prioritized Shopee Express in every package delivery to consumers.

Persons: Rafael Henrique, Shopee, Persaingan Usaha, KPPU Organizations: Getty, Shopee, Shopee Express, KPPU, CNBC, Express Locations: BRAZIL, Indonesia, Shopee Indonesia, Republic of Indonesia

☆ Southeast Asia is a top choice for firms diversifying supply chains amid U.S.-China tensions
▼ + stars: | 2024-06-24 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +5 min

Skyline, Ho Chi Minh City, Vietnam John Harper | Photodisc | Getty ImagesSoutheast Asia has emerged as a top choice for firms looking to diversify production away from China, including Chinese companies, amid escalating tensions between Washington and Beijing. "Southeast Asia is well-placed to benefit significantly from the China+1 phenomenon as both foreign and Chinese companies diversify their supply chains and operations," said Kuo-Yi Lim, co-founder and managing partner of Southeast Asian venture capital firm Monk's Hill Ventures. "The ASEAN-6 region has benefited from a diversification of global and regional supply chain as well as the adoption of 'China+1' strategies. MalaysiaMalaysia has seen semiconductor firms including Intel, GlobalFoundries and Infineon setting up or expanding operations in the country over the last few years amid U.S.-China tensions. Chinese electric vehicle maker BYD plans to start commercial production of EVs in Indonesia in 2026, according to local reports.

Persons: Vietnam John Harper, Kuo, Yi Lim, Lim, Yinglan Tan, Kai Wei Ang, CNBC's, It's, Ang, Anders C, Johansson, –, Sokon – Organizations: Photodisc, Getty, Monk's Hill Ventures, ASEAN, Hong Kong SAR, Apple, Ventures Partners, Samsung, BofA Securities, Intel, GlobalFoundries, Infineon, U.S, Monk's Hill Ventures . Industry, Malaysia that's, Stockholm China Economic Research, Stockholm School of Economics, Chery, Singapore Locations: Chi Minh City, Vietnam, Asia, China, Washington, Beijing, Monk's, Indonesia, Malaysia, Philippines, Thailand, Singapore, U.S, Japan, European Union, China & Hong Kong, Hong Kong, Vietnam Vietnam, ASEAN, Malaysia Malaysia, Stockholm China, EVs

☆ Thailand to become first Southeast Asian nation to legalize same-sex marriage
▼ + stars: | 2024-06-18 | by ( Helen Regan | Kocha Olarn | ) edition.cnn.com time to read: +8 min

The result of the vote means that Thailand will become only the third place in Asia to allow for marriage equality after Taiwan legalized same-sex marriage in 2019 and Nepal in 2023. Mark Phillips/CNNPrevious attempts to legalize marriage equality over the past decade had stalled. Nonetheless Thailand’s Prime Minister Srettha Thavisin, of the Pheu Thai Party, had also promised to bring the marriage equality bill to parliament. Japan is the only Group of Seven (G7) country that has not recognized either same-sex civil unions or same-sex marriage, despite recent high court decisions that ruled not allowing same-sex marriage is unconstitutional. South Korea does not legally recognize same-sex marriage but in February 2023, a South Korean court ruled in favor of a same-sex couple seeking equal health benefits.

Persons: ”, Panyaphon Phiphatkhunarnon, Thailand –, ” Panyaphon, Watit, ” Pokpong, Pokpong, Mark Phillips, Pita Limjaroenrat, Srettha Thavisin, Srettha, “, Peerapon Boonyakiat, Xi Jinping Organizations: CNN, Love Foundation, Pokpong, “, Party, Thailand’s, Pheu Thai Party, Bangkok Pride Locations: Thailand, Southeast Asia, Asia, Taiwan, Nepal, Bangkok, Sukhumvit, Myanmar, Brunei, Indonesia, Aceh, Malaysia, Singapore, Japan, China, Beijing, South Korea, Korea

☆ Israel’s Daily Combat Pause in Part of Gaza: How Is It Working?
▼ + stars: | 2024-06-18 | by ( Matthew Mpoke Bigg | ) www.nytimes.com time to read: 1 min

Israel has said that the partial daily suspension of its military activity in a part of southern Gaza, which began over the weekend, is aimed at making it safer for humanitarian groups to deliver aid in the territory. Here’s a look at how the pause works and whether aid workers believe it is likely to alleviate civilian suffering that the United Nations says borders on famine. The military said on Sunday it had paused operations during daylight hours in parts of southern Gaza. The policy applies to a seven-mile-long strip of southeastern Gaza surrounding a major stretch of road. It does not include coastal areas where Palestinians have fled since Israel began an invasion of the city of Rafah in southern Gaza in early May.

Persons: Israel Locations: Gaza, United Nations, Israel, Rafah

☆ ‘Pig butchering’ crypto scam: Americans taking their lives after losing savings to international criminal gangs
▼ + stars: | 2024-06-17 | by ( Teele Rebane | Ivan Watson | ) edition.cnn.com time to read: +17 min

In early March, Dennis’ children scheduled a meeting to help their father get back on his feet after the scam. Matt and Adrienne lost their father Dennis to suicide in March after he fell victim to a cryptocurrency investment scam. Hard to believe I’m falling for a man I have never seen or spoken to,” Carina told him just a few weeks in. Carina, scam victimCarina didn’t tell her family about what had happened and the stress she was under until the very final moment. After months of hiding it, Carina told her family, who suggested she speak to Kraken directly.

Persons: Matt, “, Adrienne’s, Dennis Jones, Jessie, ”, Dennis, Dennis ’, Adrienne, ” Matt, Chris Turner, Amanda Swinhart, they’ve, Erin West, “ I’ve, I’ve, Erin, “ We’ve, Shawn Bradstreet, Jim Castel, Bradstreet, Bumble, GASO, that’s, Tom Booth Rakesh, Rakesh, “ Klara Semonov, Tawee Sodsong, Tom Booth Pachara, Jeff Rosen, ’ Carina, “ Evan ”, Carina, WhatsApp, ” Carina, Evan Van ”, CNN Evan, Evan, consoling, Jim Castel ‘, ” Dennis messaged, ” Adrienne, Carina didn’t, “ It’s, ” Dennis ’ Organizations: Lifeline, International Association for Suicide Prevention, Befrienders Worldwide, CNN, Facebook, FBI, San, LinkedIn, Meta, Indian, Thai National Broadcasting, Befrienders Locations: Virginia, Southeast Asia, scammers, Santa Clara, California’s Bay, San Francisco, Myanmar, Cambodia, Laos, Thailand, Thai, ”, Russian, Salt Lake City, scamming

☆ Japan did it first. Chinese stocks with some of the biggest global upside
▼ + stars: | 2024-06-16 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

If the international expansion of Japanese companies is any guide, Chinese companies still have significant potential left in the global market. The company did not break out overseas revenue for the first quarter, but said overall revenue grew by 14% from a year ago to 3.8 billion yuan. When compared to Japanese companies, the contribution of overseas revenue to the total for Chinese businesses is low across industries. "We believe Zhejiang Dingli will benefit from strong boom lift sales growth, especially in the US market," the HSBC report said. I think the conversation has moved now more toward being tough on global trade or free trade," David Chao, global market strategist, Asia Pacific (ex-Japan), at Invesco, said during a webinar Thursday.

Persons: Steven Sun, Christine Peng, Anker, Dingli, Snibe, David Chao, — CNBC's Michael Bloom Organizations: HSBC, CSI, Japan's Nikkei, HSBC Qianhai Securities, UBS Asia Pacific, Companies, Amazon, Apple, Google, U.S . Commerce Department, Shenzhen New Industries Biomedical Engineering, Asia Pacific, U.S, Association of Southeast Asian Nations, Union Locations: China, Japan's, Shanghai, Germany, Indonesia, East, South America, Shenzhen, Zhejiang, Snibe — Shenzhen, U.S, Asia, Japan, Invesco, Singapore, The U.S

☆ China's exports grow more than expected in May, up by 7.6%
▼ + stars: | 2024-06-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China's exports in May grew faster than expected, while imports missed forecasts, customs data showed Friday. Exports rose by 7.6% in May from a year a go in U.S. dollar terms, beating expectations for 6% growth, according to a Reuters poll. In April, China's exports rose by 1.5% year-on-year, while imports climbed by 8.4%. China's imports and exports to the U.S. and EU fell during that time, according to CNBC calculations of official data. China's exports to Russia fell during that time, while imports from Russia rose by 7.5%.

Organizations: BEIJING, Reuters, ., CNBC, Association of Southeast Locations: U.S, EU, Nations, Russia

Soaking storms will shift east on Friday and target more of the Gulf Coast after rumbling to life Thursday afternoon in parts of Texas. Floods deluge roads: Several roads closing in northern and eastern Bosque County, Texas due to water over crossings or bridges. More than a dozen school districts closed: The Houston Independent School District has announced campuses will be closed on Friday and will reopen next week. Schools will reopen on Monday, May 20,” the school district said in a message on Facebook. A handful of Houston-area school districts announced they would close Friday as well, including Aldine Independent School District, Channelview Independent School District and Cypress-Fairbanks Independent School District.

Persons: Mary Benton, Samuel Peña, Houston Mayor John Whitmire, Houstonians, Seth Waller, Bell County . Organizations: CNN, Houston Fire Department, Texas -, Florida Panhandle, National Weather Service, Hyatt, CenterPoint Energy, Houston Mayor, Houston, College Station, Houston Independent School, HISD, City of, Facebook, Aldine Independent School District, Channelview Independent School District, Fairbanks Independent School District Locations: Texas, Louisiana, Houston, Gulf, Mississippi, Alabama, Texas - Louisiana, Georgia, Florida, New Orleans, Baton Rouge and New Orleans, Hyatt Regency, Bryan, College, Bosque County , Texas, Bell County, Bell County . McLennan, Falls, City of Houston, Cypress

☆ At least 4 deaths in Houston, official says, as storms bring ‘life-threatening’ flood risk to Texas and Louisiana
▼ + stars: | 2024-05-16 | by ( Joe Sutton | Elizabeth Wolfe | ) edition.cnn.com time to read: +9 min

More than 100,000 are also in the dark in Louisiana as storms batter the state, as well. Parts of Texas and western Louisiana are under a rare Level 4 of 4 high risk of excessive rainfall Thursday, the Weather Prediction Center said. Major flooding has prompted water rescues in at least one Texas city. Texas and Louisiana have been in the bull’s-eye of seemingly unrelenting rounds of torrential, flooding downpours since the start of April. A tornado warning had been issued earlier Thursday evening in Harris County, including downtown Houston, according to the National Weather Service.

Persons: Samuel Peña, John Whitmire, Houston Mayor John Whitmire, Houstonians, what’s, Hurricane Harvey Organizations: CNN, Houston Fire, Hyatt, Weather Prediction, WPC, National Weather Service, Houston, KPRC, Houston Astros, Oakland Athletics, Houston Mayor, Centerpoint, METRO, Training, Florida Panhandle, Regional Climate Center ., Hurricane Locations: Houston, Hyatt Regency, Texas, Louisiana, Bryan, United States, Georgia, Waco, Mississippi, Lake Charles , Louisiana, Harris County, Harris, city’s, Gulf, Alabama, Florida, Shreveport , Louisiana

☆ China's imports jump 8.4% in April, exceeding expectations as purchases from the U.S. grow
▼ + stars: | 2024-05-09 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Aly Song | ReutersBEIJING — China's customs agency released data Thursday that showed exports rose in-line with expectations in April, while imports surged ahead of forecasts. Worldwide, China's exports rose by 1.5% year-on-year in April in U.S. dollar terms, while imports climbed by 8.4%, the data showed. China's exports to ASEAN rose by 8% in April from a year ago, while imports rose by 5%. In April, China's imports and exports of integrated circuits rose from a year ago, the data showed. By volume, China's exports of cars, LCD panel displays and home appliances rose, while exports of cellphones fell slightly.

Persons: Aly Song Organizations: Reuters, CNBC, U.S, Association of Southeast, ASEAN Locations: Yangshan, Shanghai, China, Reuters BEIJING, U.S, Union, Russia, Nations, Vietnam, Mexico

☆ UOB reports first-quarter profit fell less than expected, maintains 2024 growth outlook
▼ + stars: | 2024-05-08 | by ( ) www.cnbc.com time to read: +1 min

Singapore's United Overseas Bank, or UOB, reported a smaller-than-expected decline in first quarter net profit on Wednesday, squeezed by net interest margins, and maintained its outlook for income growth in 2024. Singapore's United Overseas Bank reported a smaller-than-expected decline in first-quarter net profit on Wednesday, squeezed by net interest margins, and maintained its outlook for income growth in 2024. "Despite heightened geopolitical tensions, our home region of Southeast Asia is relatively resilient," UOB CEO Wee Ee Cheong said in a statement. "We continued to see ongoing shifts in global supply chains and sustained tourism activities," he added. UOB, which is also Southeast Asia's third-largest bank by assets, also maintained its guidance for low single-digit loan growth and double-digit fee growth, according to Wee's presentation slides accompanying the results.

Persons: Wee Ee Cheong Organizations: Singapore's United Overseas Bank Locations: Southeast Asia

☆ Hundreds of thousands of fish died in a single reservoir in Vietnam, another sign of how climate change is strangling the economy
▼ + stars: | 2024-05-06 | by ( Meghan Morris | ) www.businessinsider.com time to read: +4 min

A prolonged drought in southeast Asia contributed to massive fish deaths in southern Vietnam. The climate crisis and human development threaten the Mekong Delta, a key global agricultural center. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In Vietnam, the maze of wetlands that comprise the Mekong Delta is called the country's "rice bowl" because of the vast agriculture it supports. Related storiesMeanwhile, in southern Vietnam, hundreds of thousands of fish died in a reservoir last month as temperatures peaked over 100 degrees Fahrenheit and no rain fell for weeks, the AFP reported.

Persons: —, El Niño, they're, Ksor Phung, VnExpress Organizations: Service, Mekong Delta, country's Ministry of Natural Resources, Environment, World Bank, AFP, Residents, Business, Getty, Commission Locations: Asia, Vietnam, Delta, El, Mekong

A nearly 60-foot segment of an expressway in a rural area of southeastern China collapsed before dawn on Wednesday after days of heavy rain, killing 24 people and injuring 30 others. Photos released after the incident appeared to show that a landslide had begun under two lanes of an expressway that ran along the side of a hill. A wide, brown scar of mud ran down the side of the hill between bright green foliage, leaving a large gap in the expressway. Vehicles lay jumbled at the base of the hill below the hole, blackened and still smoking from a fire that had burned vigorously during the night, drawing a large number of fire trucks to the area. The state news media said that many of the survivors were seriously injured, with drivers and passengers alike suffering severe bone fractures and injuries to internal organs.

Organizations: Vehicles Locations: China

☆ Microsoft to invest $1.7 billion into AI infrastructure in Indonesia, CEO Satya Nadella says
▼ + stars: | 2024-04-30 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

Microsoft CEO Satya Nadella (C) arrives for a meeting with Indonesia's President Joko Widodo at the Merdeka Palace in Jakarta on April 30, 2024. The announcement came as CEO Satya Nadella met with Indonesian President Joko Widodo on the same day. "This new generation of AI is reshaping how people live and work everywhere, including in Indonesia," Nadella, chairman and CEO of Microsoft, said in a statement. Microsoft also said it will partner with governments, organizations and communities to provide AI skilling opportunities for 2.5 million people in Association of Southeast Asian Nations member states by 2025. Nadella met with Jokowi in Jakarta on Tuesday to discuss topics including technological and AI breakthroughs that will help Indonesia progress, according to Indonesian news agency Antara.

Persons: Satya Nadella, Joko Widodo, ISMOYO, Nadella Organizations: Getty, Microsoft, Indonesian, Association of Southeast Asian Nations, Jokowi, Antara Locations: Jakarta, AFP, Indonesia, Golden Indonesia

☆ Philippine dam: A 300-year-old settlement resurfaces as severe drought dries up a reservoir
▼ + stars: | 2024-04-30 | by ( Emily Blumenthal | Monica Garrett | ) edition.cnn.com time to read: +4 min

CNN —A nearly 300-year-old settlement once submerged beneath a major dam in the Philippines has reemerged as sweltering heat and drought dry up the reservoir. Ezra Acayan/Getty ImagesSome visitors brave the extreme heat to see the dam, where parts of damaged structures still stand. But a drought currently affecting about half of the country’s provinces has pushed the dam’s water levels down, according to AFP. The town of Muñoz near the dam has seen heat index over 41 degrees (106 degrees Fahrenheit) the last five days. On Sunday the temperature felt like 47 degrees (117 degrees Fahrenheit) because of other contributing factors.

Persons: Marlon Paladin, Ezra Acayan, Paladin, climatologist Maximiliano Herrera, ” Organizations: CNN, National Irrigation Administration, PAGASA, AFP, Prediction Locations: Philippines, Pantabangan, Nueva Ecija, Philippine, Southeast Asia, Muñoz, Luzon, El

☆ Goldman Environmental Prize: This saltwater lagoon is legally a person. Here’s why that could help it survive
▼ + stars: | 2024-04-29 | by ( Nell Lewis | ) edition.cnn.com time to read: +6 min

CNN —Mar Menor, Europe’s biggest saltwater lagoon, sits on the coast of southeastern Spain. Three years later, following an intense campaign, Mar Menor became the first ecosystem in Europe to be designated legal personhood rights. Today, Vicente was awarded the prestigious Goldman Environmental Prize – an annual award given to six grassroots environmental leaders, each working in a different continent. Teresa Vicente, 61, has been awarded the Goldman Environmental Prize for her successful campaign to grant Mar Menor legal personhood rights. “Right now, Mar Menor is in intensive care,” she says.

Persons: CNN —, Teresa Vicente, Mar Menor, Vicente, Jose Guerrero, “, ”, Jose Miguel Fernandez, Menor Organizations: CNN, University of Murcia, Goldman, Mar, Goldman Environmental, University of Reading’s Centre of Justice, AFP Locations: Spain, Europe, AFP, Murcia, Colombia, New, Whanganui, Spain’s

The top US diplomat landed in Shanghai where he is expected to meet local officials and business leaders, and he will then travel to Beijing for meetings with senior Chinese officials. “We are in a different place than we were a year ago when the bilateral relationship was at an historic low point,” a senior State Department official said. “Russia is no longer kind of on its back foot,” a second senior State Department official said. Blinken will make the case that China should weigh in “more directly” with Iran to be less provocative in the region, the second senior State Department official said. “In both cases the Chinese have taken some early steps,” said the second senior State Department official, adding that there is still “much more” that needs to be done on both fronts.

Persons: Antony Blinken, Joe Biden, Xi Jinping, Janet Yellen, Biden, Xi, ”, “, ” Blinken, Matthew Miller, Leah Millis, China’s, ” Xi, Blinken, ” Miller, it’s, Mark Swidan, Kai Li, David Lin Organizations: CNN, State Department, Ukraine, US, Foreign Ministry, of, People, Biden, Chinese Foreign Ministry, ASEAN, Association of Southeast Asian Nations, Beijing, Party, Taiwan, Communist, Taiwan Relations, White Locations: China, Ukraine, Shanghai, Beijing, California, Russia, Moscow, Italy, “ Russia, ”, Europe, United States, South China, Philippine, Washington, Philippines, South, Taiwan, Taiwan Strait, East, Iran

☆ Miami shows how a new kind of gentrification is coming to US cities
▼ + stars: | 2024-04-09 | by ( Eliza Relman | ) www.businessinsider.com time to read: +4 min

Miami has one of the hottest real estate markets in the country. Real estate developers are promoting new housing in drier parts of the city as an escape from regular flooding, researchers have found. And Miami is far from alone — coastal flooding, extreme heat, and other climate impacts are affecting cities across the country. And Miami residents are spending a larger share of their income on housing these days. The rent-to-income ratio in Miami has risen from 35.9% in 2019 to 37.0% at the end of last year, according to Moody's.

Persons: Moody's, Pedro, — Organizations: Service, Business, Liberty, Dade, McKinsey & Company, Miami Locations: Miami, South Florida, Little Haiti, Liberty City, — Miami, Florida, Dade County

☆ U.S. loses its spot to China as Southeast Asia's most favored ally, survey finds
▼ + stars: | 2024-04-03 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

This is the first time Beijing has edged past Washington since 2020 when the annual survey first posed the question. China's aggressive behavior in the South China Sea is the Philippines' (90.2%) and Vietnam's (72.5%) top concern, the region's two frontline South China Sea claimant states. The Philippines President Ferdinand Marcos Jr. told Bloomberg last month that his government's claims on certain parts of the South China sea should not be viewed as provoking China. Vietnam has also asserted sovereignty over islands in the South China Sea though Beijing has brushed aside those claims. ASEAN should build up its resilience and unity to fend off pressures from the two major powers, the U.S. and China, nearly half of the survey respondents said.

Persons: ISEAS – Yusof, Ferdinand Marcos Jr, Kenddrick Chan Organizations: ASEAN Studies, Jan, Association of Southeast Asian Nations, ASEAN, China, Bloomberg, Philippines, U.S, LSE, London School of Economics, Political Science Locations: China, U.S, Washington, Beijing, Singapore, ISEAS, Indonesia . China, Japan, South China, Philippines, Vietnam, Southeast Asia

The Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), in Tokyo, Japan, on Friday, Feb. 16, 2024. Kosuke Okahara/Bloomberg via Getty ImagesAsia-Pacific markets were set to fall Tuesday as the U.S. market took a breather following a rally sparked by optimism over the Federal Reserve's interest rate stance at its latest meeting. "We're coming off of a post-FOMC high," he told CNBC, referring to the U.S. Federal Reserve's Federal Open Market Committee meeting last week. "The market is getting more and more vulnerable to a market decline or a pullback in prices." Investors in Asia also await economic data out of Southeast Asia, including Singapore's manufacturing output and Thailand's trade balance.

Persons: Kosuke Okahara, Sam Stovall Organizations: Tokyo Stock Exchange, Japan Exchange Group Inc, Bloomberg, Getty Images, Federal, CFRA Research, CNBC, U.S, U.S . Federal Locations: Tokyo, Japan, Getty Images Asia, Pacific, U.S, U.S ., Asia, Southeast Asia

☆ Malaysia's $100 billion ghost town really wants to draw in tourists. It's not working.
▼ + stars: | 2024-03-25 | by ( Marielle Descalsota | ) www.businessinsider.com time to read: +8 min

Forest City, a luxury development in Malaysia, is banking on tourism to shed its ghost town image. AdvertisementWendy Noble lives 15 minutes away from Malaysia's Forest City, across the border in Singapore. Country Garden, the largest developer in China, spent $100 billion building Forest City. "Forest City is able to attract the weekend tourists," Adilah said, referring to tourists like Noble and Nemis. Forest City Golf Resort's lobby, with a miniature figure of the development.

Persons: it's, —, Wendy Noble, Ree Nemis, Noble, Marielle, Nemis, Adilah Zain, Adilah, Sultan Ibrahim, Shawn, Gary, We've, Chandran Organizations: Forest City, Service, Malaysia's, MARA Technological University, Garden, Bloomberg, BI, Forest, Challenge, Hotel Locations: Forest, Malaysia, Malaysia's Forest City, Singapore, Forest City, China, Johor —, Malaysian, Monaco, Challenge Malaysia, Kuala Lumpur

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