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☆ Analysis: China's 'atypical' deflation cycle gives central bank a headache
▼ + stars: | 2023-04-19 | by ( Kevin Yao | ) www.reuters.com time to read: +5 min

China GDP"China is entering an 'atypical' deflation cycle, which means deflation amid economic recovery," said Jinyue Dong, senior economist at BBVA research. China's new bank lending hit an all-time high in the first quarter. The central bank cut lenders' reserve requirements ratio (RRR) for the first time this year in March. But analysts say that is largely due to last year's low base caused by COVID-19 curbs that hit consumers the hardest, rather than underlying household demand. Reuters GraphicsNew household loans, mainly mortgages and consumer loans, accounted for 16% of total new loans in the first quarter, despite a jump in mortgages in March, while corporate loans made up for the rest.

☆ China's first-quarter GDP growth seen rebounding to 4.0%, 2023 rate seen at 5.4% - Reuters poll
▼ + stars: | 2023-04-14 | by ( Kevin Yao | ) www.reuters.com time to read: +4 min

That would be the fastest growth since the first quarter of last year. The government has set a modest target for economic growth of around 5% for this year, after badly missing the 2022 goal. The government is due to release first quarter GDP data, along with March activity data, at 0200 GMT on April 18. On a quarterly basis, the economy is forecast to grow 2.2% in January-March, compared with no change in October-December, the poll showed. “We need to maintain the stability and continuity of macro policies to consolidate the economic recovery,” said Wen Bin, chief economist at China Minsheng Bank.

☆ China's Q1 GDP growth seen rebounding to 4.0%, 2023 rate seen at 5.4%: Reuters poll
▼ + stars: | 2023-04-14 | by ( Kevin Yao | ) www.reuters.com time to read: +4 min

That would be the fastest growth since the first quarter of last year. For 2023, growth was expected to pick up to 5.4%, the poll showed, from 3.0% last year - one of its worst performances in nearly half a century due to strict COVID-19 curbs. The government has set a modest target for economic growth of around 5% for this year, after badly missing the 2022 goal. The government is due to release first quarter GDP data, along with March activity data, at 0200 GMT on April 18. Consumer inflation will likely quicken to 2.3% in 2023 from 2.0% in 2022, before steadying in 2024, the poll showed.

☆ China's consumer, factory prices skid as demand falters
▼ + stars: | 2023-04-11 | by ( Reuters Staff | ) www.reuters.com time to read: +4 min

REUTERS/Tingshu WangIn contrast to surging prices globally, China’s retail and producer inflation has remained anaemic as the consumer and industrial sectors struggle to recover from their pandemic hit. Analysts now think consumer inflation could fall short of Beijing’s official targets this year. On a month-on-month basis, food prices fell 1.4%. GRAPHIC: China's inflation skids, hereFALLING SHORTThe government has set a target for average consumer prices in 2023 to be about 3%. “We think consumer price inflation will rebound in the coming months as the labour market tightens again and will peak at 2.3% in early 2024,” said Zichun Huang, China economist at Capital Economics.

Aerial view of shipping containers sitting stacked at Yangshan Deepwater Port, the world's biggest automated container terminal, on May 21, 2021 in Shanghai, China. Policy support"China could at least be a relative 'safe haven' given its growth premium, financial soundness, policy discipline and the new political economy cycle," Citi economists said. The RRR is a measure of how much cash banks in China need to have on hand. Since the pandemic started, mainland China has kept relatively easy monetary policy while not announcing major stimulus packages — such as large cash handouts to consumers. "With the unintended and undesirable from aggressive interest rate hikes surfacing abroad, capital inflows into China could resume after the reopen trade if the recovery thesis plays out and political rerating is steadily ongoing," Citi economists wrote.

☆ Departing Intel exec to focus on loosening Nvidia's grip on AI for movies, games
▼ + stars: | 2023-03-21 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

New software tools can generate fresh imagery from just a text prompt and hold great promise for fields like visual effects and video games, Koduri said. Koduri, a veteran of Advanced Micro Devices (AMD.O) and Apple Inc (AAPL.O), joined Intel five years ago. But Koduri, who has worked on nearly two dozen generations of computer graphics chips, has also had a long interest in movies. "Because to truly democratize AI computing for everybody, we have got to get the cost down dramatically." Reporting by Stephen Nellis in San Francisco; Editing by Leslie Adler and Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.

☆ Watch a parking lot of around 100 Teslas put on a light show tribute to the Oscar-winning song 'Naatu Naatu'
▼ + stars: | 2023-03-21 | by ( Grace Mayer | ) www.businessinsider.com time to read: +3 min

A video on Twitter shows around 100 Tesla vehicles performing a light show to the popular song "Naatu Naatu." The official "RRR" account also shared footage from the event, which has racked up over 8.8 million views. Custom Tesla light show websites created by Tesla fans have also cropped up. The website TeslaLightShows.io allows users to upload and download free custom light shows from other Tesla owners. To perform a light show, Tesla owners can follow similar set-up instructions as setting up Tesla's "Boombox" feature, per Tesla's website.

☆ China keeps lending benchmarks unchanged in March, as expected
▼ + stars: | 2023-03-20 | by ( Reuters Staff | ) www.reuters.com time to read: +3 min

SHANGHAI (Reuters) - China kept its benchmark lending rates unchanged for the seventh straight month in March, as expected, with the economy already benefiting from policy actions taken last week as it recovers from the pandemic. On Monday, the one-year loan prime rate (LPR) was kept at 3.65%, while the five-year LPR was unchanged at 4.30%. (Graphic: China lending rates unchanged in March here)In a Reuters poll conducted last week, all 22 participants predicted no change to either loan prime rate. “The central bank’s RRR cut was more of an emergency response to prevent overseas banking crisis from spilling over to China,” Xing said. An RRR cut nonetheless also promotes economic growth, so economists thought that last week’s made an LPR cut less likely.

The People's Bank of China (PBOC) said it would cut the reserve requirement ratio (RRR) for all banks, except those that have implemented a 5% reserve ratio, by 25 basis points from March 27. "In the first two months of this year, China's main economic indicators showed a positive trend, but the overall recovery foundation is not yet solid." The central bank has yet to give an estimate of how much long-term liquidity will be released following the cut, which will allow banks to lend out more funds. The weighted average RRR for financial institutions stood at around 7.6% after the cut, the central bank said. China's economic activity picked up in the first two months of 2023 as consumption and infrastructure investment drove a recovery from COVID-19 disruptions.

Chinese leaders have pledged to step up support for the world's second-largest economy, which is gradually rebounding from a pandemic-induced slump after virus curbs were abruptly lifted in December. The People's Bank of China (PBOC) said it would cut the reserve requirement ratio (RRR) for all banks, except those that have implemented a 5% reserve ratio, by 25 basis points (bps), effective March 27. The move, which came earlier than financial markets had anticipated, comes after data showed a gradual but uneven recovery in the world's second-largest economy in the first months, and stronger-than-expected credit expansion in February. The central bank has promised to make its policy "precise and forceful" this year to support the economy, keeping liquidity reasonably ample and lowering funding costs for businesses. The weighted average RRR for financial institutions stood at around 7.6% after the cut, the central bank said.

☆ China’s easing moment may be short lived
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +1 min

LONDON, March 17 (Reuters Breakingviews) - Western central banks’ new hesitation on interest rate hikes has given Beijing more breathing room. The decision came as a surprise, as the central bank has been generously pumping up bank liquidity when rolling over maturing medium-term policy loans. Such a subtler easing approach reinforces Governor Yi Gang’s view that China’s interest rates are at “appropriate” levels for now. Worries about the country’s mounting corporate and household debt help explain why Yi may favor keeping rates steady for longer. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ China makes surprise rate cut to boost banking liquidity and the economy
▼ + stars: | 2023-03-17 | by ( Laura He | ) edition.cnn.com time to read: +2 min

The People’s Bank of China (PBOC) said it would cut the reserve requirement ratio (RRR) for almost all banks by 0.25 percentage points, effective March 27. “[We must] make a good combination of macro policies, better serve the real economy, and maintain reasonable and sufficient liquidity in the banking system,” the PBOC said in a statement. The central bank had already injected hundreds of billions of yuan into the banking system since January, mainly through a medium-term lending facility, the analysts said. Regulators on both sides of the Atlantic have taken emergency measures since Sunday to provide liquidity support to troubled lenders and shore up the confidence in the banking system. But he also acknowledged that the RRR cut “remains an effective monetary policy tool” to provide long-term liquidity and support the economy.

☆ Indians erupt in celebration after two films win at Oscars
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +3 min

Indians had won Oscars previously, but no Indian film had won an Academy Award before Sunday night in Los Angles. "The popularity of 'Naatu Naatu' is global. They have brought India to the world stage," singer Prudhvi Chandra, one of the singers of "Naatu Naatu," told the India Today news channel. In the film, made in the South Indian language of Telugu, and directed by S.S. Rajamouli, "Naatu Naatu" begins when the two leads, played by Ram Charan and N.T. When a young British man aims racist insults at the leads, they decide to educate him using the song "Naatu Naatu."

☆ Factbox: Full list of winners at the 2023 Oscars
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +1 min

LOS ANGELES, March 13 (Reuters) - The 95th Academy Awards took place at a ceremony in Los Angeles on Sunday and were broadcast live on ABC television. The following is the full list of 2023 Oscar winners:BEST PICTURE"Everything Everywhere All at Once"BEST ACTRESSMichelle Yeoh, “Everything Everywhere All at Once"BEST ACTORBrendan Fraser, "The Whale"BEST DIRECTORDaniel Kwan and Daniel Scheinert, "Everything Everywhere All at Once"BEST SUPPORTING ACTORKe Huy Quan, "Everything Everywhere All at Once"BEST SUPPORTING ACTRESSJamie Lee Curtis, "Everything Everywhere All at Once"BEST INTERNATIONAL FEATURE FILM"All Quiet on the Western Front," GermanyBEST ANIMATED FEATURE FILM"Guillermo del Toro's Pinocchio"BEST DOCUMENTARY FEATURE FILM"Navalny"BEST ORIGINAL SCREENPLAY"Everything Everywhere All at Once," written by Daniel Kwan and Daniel ScheinertBEST ADAPTED SCREENPLAY"Women Talking," screenplay by Sarah PolleyBEST ORIGINAL SCORE"All Quiet on the Western Front," Volker BertelmannBEST ORIGINAL SONG"Naatu Naatu," from "RRR," music by M.M. Keeravaani; lyrics by ChandraboseCINEMATOGRAPHY"All Quiet On The Western Front," James FriendVISUAL EFFECTS"Avatar: The Way of Water"SOUND"Top Gun: Maverick"FILM EDITING"Everything Everywhere All at Once"PRODUCTION DESIGN"All Quiet On The Western Front"COSTUME DESIGN"Black Panther: Wakanda Forever," Ruth CarterMAKEUP AND HAIRSTYLING"The Whale"DOCUMENTARY SHORT FILM"The Elephant Whisperers"SHORT FILM, LIVE ACTION"An Irish Goodbye"SHORT FILM, ANIMATED"The Boy, the Mole, the Fox and the Horse"Reporting by Mary Milliken; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ Offbeat multiverse movie 'Everything Everywhere' dominates the Oscars
▼ + stars: | 2023-03-12 | by ( Lisa Richwine | ) www.reuters.com time to read: +5 min

The movie claimed seven awards overall, including three of the four acting Oscars for stars Michelle Yeoh, Ke Huy Quan and Jamie Lee Curtis. Curtis, who built a career in horror films such as "Halloween," won best supporting actress for playing a frumpy tax agent named Deirdre Beaubeirdre. "The Whale" star Brendan Fraser, known for 1990s roles such as "The Mummy" and "Encino Man," won best actor for playing a severely obese man trying to reconnect with his daughter. "Naatu Naatu," a song from the Indian movie "RRR" that created a viral dance sensation, was honored as best original song. The 95th Academy Awards ceremony was broadcast live on Walt Disney Co's (DIS.N) ABC network.

☆ This Heel-Thrusting Dance Sequence From ‘RRR’ Is Set to Rock the Oscars
▼ + stars: | 2023-03-09 | by ( John Jurgensen | ) www.wsj.com time to read: 1 min

“RRR” grossed about $160 million in movie theaters worldwide. But many viewers unfamiliar with releases from India (much less the Telugu-language filmmaking hub known as Tollywood) discovered the film on Netflix. From there, the “Naatu Naatu” dance took on a life of its own on TikTok and other social-media platforms.

☆ What could go wrong? Oscars team prepares for anything after Will Smith slap
▼ + stars: | 2023-03-08 | by ( Lisa Richwine | ) www.reuters.com time to read: +3 min

LOS ANGELES, March 8 (Reuters) - Organizers of Sunday's 95th Academy Awards are preparing for the unexpected after Will Smith's infamous slap of Chris Rock convulsed Hollywood's biggest awards ceremony last year. For the first time, the Academy of Motion Picture Arts and Sciences has created a crisis team to respond to any mishaps. The organization has not disclosed details about the membership of the crisis team or how it may react to anything out of the ordinary. Weiss said the team was planning to pepper the show with moments that they hope would spread on Twitter and TikTok. Pop superstar Rihanna will sing her nominated song "Lift Me Up" from "Wakanda Forever."

☆ China's central bank says will adjust policy in a timely way as economy recovers
▼ + stars: | 2023-03-03 | by ( Kevin Yao | ) www.reuters.com time to read: +4 min

[1/4] Paramilitary police officers stand guard in front of the headquarters of the People's Bank of China, the central bank (PBOC), in Beijing, China September 30, 2022. REUTERS/Tingshu WangBEIJING, March 3 (Reuters) - China's central bank will adjust monetary policy in a timely and appropriate manner, and cutting banks' reserve requirements to release long-term liquidity will still be an effective tool to support the economy, top bank officials said on Friday. "The PBOC will provide 'forceful' financial support for the stable and healthy development of the economy," People's Bank of China Governor Yi Gang told a news conference. Liu Guoqiang, a deputy PBOC governor, said China's economy is recovering but still faces some uncertainties and more policy support is needed. Since 2020, the central bank has expanded its arsenal of tools, including relending and rediscount facilities and other low-cost loans.

☆ How ‘RRR’ Created the Most Rollicking Movie Scene of the Year
▼ + stars: | 2023-03-03 | by ( John Jurgensen | ) www.wsj.com time to read: 1 min

It’s the first song from an Indian film ever nominated for an Academy Award, and it has a good shot at beating numbers from pop heavyweights including Lady Gaga and Rihanna at next Sunday’s Oscars. But despite the addictive chorus and propulsive beat of “Naatu Naatu,” the biggest force behind the song’s success is a dance—a heel-thrusting, suspender-bending, dust-kicking sequence that accompanies the tune in the action epic “RRR.”

☆ Behind the Epic Dance Moves in ‘RRR’
▼ + stars: | 2023-03-02 | by ( ) www.wsj.com time to read: 1 min

WSJ Opinion: Benjamin Netanyahu on the Iran Nuclear ThreatIn an interview with 'Global View' columnist Walter Russell Mead, the Prime Minister of Israel pointed to developments in Iran, then queried what might happen should it become the first nuclear power run by radical Islam. The answer, he says, is to "expand the circle of peace." Images: Reuters/AP/AFP via Getty Images Composite: Mark Kelly

LOS ANGELES, Jan 25 (Reuters) - "Naatu Naatu", the standout song in the Indian period film "RRR," has won a Golden Globe and a Critics Choice Award, garnered hundreds of millions of views on YouTube and spawned a TikTok challenge. Keeravani, songwriter of ''Naatu Naatu'' from the movie ''RRR'', which is nominated for best original song at the Oscars, poses for a portrait at the Reuters office in Culver City, California, U.S. January 13, 2023. "Naatu Naatu" and Keeravani are competing with some big household names in the best song category, including Lady Gaga's "Hold My Hand" from "Top Gun: Maverick" and Rihanna's "Lift Me Up" from "Black Panther: Wakanda Forever". In the action-Bollywood epic directed by S.S. Rajamouli, "Naatu Naatu" begins when the two leads, played by Ram Charan and N.T. Rahman won the Oscar for the Hindi song “Jai-Ho,” but that was for the U.S.-British production of “Slumdog Millionaire,” which was set in India.

☆ Asian actors and filmmakers dominate Oscar nominations
▼ + stars: | 2023-01-24 | by ( Brahmjot Kaur | ) www.nbcnews.com time to read: +3 min

Asian American-led projects have been the standouts at this year’s award shows, and the Academy Awards nominations, which were announced Tuesday, were no different. Golden Globe-winning stars Michelle Yeoh and Ke Huy Quan were also nominated for best actress and best supporting actor, respectively. Stephanie Hsu, who played Yeoh’s daughter, Joy, and Jamie Lee Curtis, who played Deirdre, an IRS inspector, were also nominated for best supporting actress. The film was also nominated for best picture, best costume design, best original screenplay, best original score, best film editing and best original song. “Then along came the best gift: ‘Everything, Everywhere All at Once.’”Hong Chau, who plays Liz in A24’s “The Whale” with Brendan Fraser, was also nominated for best supporting actress.

☆ 'Everything Everywhere All at Once' takes Best Picture at Critics Choice Awards
▼ + stars: | 2023-01-16 | by ( ) www.nbcnews.com time to read: +3 min

Top movie nominee "Everything Everywhere All at Once" won big at the 28th Critics Choice Awards on Sunday night in Los Angeles, taking home honors for Best Picture as well as directing, screenplay, editing and best supporting actor. The top TV series awards went to "Better Call Saul" for Best Drama and "Abbott Elementary," for Best Comedy. Special awards were presented to Janelle Monáe, who received the #SeeHer award, and Jeff Bridges was honored with the Lifetime Achievement Award. Read the full winners list below. Best Picture“Everything Everywhere All at Once”Best ActressCate Blanchett — “Tár”Best ActorBrendan Fraser — “The Whale”Best DirectorDaniel Kwan and Daniel Scheinert — “Everything Everywhere All at Once”Best Limited Series“The Dropout”Best Drama Series“Better Call Saul”Best Young Actor/ActressGabriel LaBelle — “The Fabelmans”Best Comedy“Glass Onion: A Knives Out Mystery”Best Acting Ensemble“Glass Onion: A Knives Out Mystery” (“Last Week Tonight with John Oliver”Best Comedy Special“Norm Macdonald: Nothing Special”Best Foreign Language Series“Pachinko”Best Animated Series“Harley Quinn”Best Movie Made for Television“Weird: The Al Yankovic Story”Best Actress in a Drama SeriesZendaya — “Euphoria”Best Actor in a Drama SeriesBob Odenkirk — “Better Call Saul”Best Hair and Makeup“Elvis”Best Visual Effects“Avatar: The Way of Water”Best EditingPaul Rogers — “Everything Everywhere All at Once”Best Production DesignFlorencia Martin, Anthony Carlino —Best CinematographyClaudio Miranda — “Top Gun: Maverick”Best Comedy Series“Abbott Elementary”Best Actress in a Comedy SeriesJean Smart — “Hacks”Best Actor in a Comedy SeriesJeremy Allen White — “The Bear”#SeeHer AwardJanelle MonáeLifetime Achievement AwardJeff BridgesBest Animated Feature“Guillermo del Toro’s Pinocchio”Best Actor in a Limited Series or Movie Made for TelevisionDaniel Radcliffe — “Weird: The Al Yankovic Story”Best Costume DesignRuth E. Carter — “Black Panther: Wakanda Forever”Best Song“Naatu Naatu” — “RRR”Best ScoreHildur Guðnadóttir — “Tár”Best Original ScreenplayDaniel Kwan, Daniel Scheinert — “Everything Everywhere All at Once”Best Adapted ScreenplaySarah Polley — “Women Talking”Best Supporting ActressAngela Bassett — “Black Panther: Wakanda Forever”Best Supporting ActorKe Huy Quan — “Everything Everywhere All at Once”Best Supporting Actor in a Comedy SeriesHenry Winkler — “Barry”Best Supporting Actress in a Comedy SeriesSheryl Lee Ralph — “Abbott Elementary”Best Supporting Actor in a Limited Series or Movie Made for TelevisionPaul Walter Hauser — “Black Bird”Best Supporting Actress in a Limited Series or Movie Made for TelevisionNiecy Nash-Betts — “Dahmer — Monster: The Jeffrey Dahmer Story”Best Supporting Actor in a Drama SeriesGiancarlo Esposito — “Better Call Saul”Best Supporting Actress in a Drama SeriesJennifer Coolidge — “The White Lotus”Best Foreign Language Film“RRR”Best Actress in a Limited Series or Movie Made For TelevisionAmanda Seyfried — The Dropout

☆ Philippines c.bank hopes to cut rates in 2024, flags RRR reduction
▼ + stars: | 2023-01-12 | by ( Neil Jerome Morales | ) www.reuters.com time to read: +2 min

"By 2024, when pent-up demand is gone, then monetary policy hopefully at that time will be much looser than what we have now," he said. Another easing measure could involve banks' reserve requirement ratio, with a high probability of it being cut in the first half, Medalla told reporters. The BSP stands ready to take further monetary policy actions to bring inflation back to within a target-consistent path, Medalla said. The figure brought the average full-year inflation rate to 5.8%, also a 14-year high and above the official 2%-4% target band. "If the U.S. is increasing policy rates, we need not match it but if it's 50 (basis points), it's hard not to respond, at least partially," Medalla said.

☆ What to know about 'Naatu Naatu,' the song that beat out Taylor Swift and Lady Gaga at Golden Globes
▼ + stars: | 2023-01-11 | by ( Brahmjot Kaur | ) www.nbcnews.com time to read: +5 min

“Naatu Naatu,” a song from the hit Telugu-language film “RRR,” was the unexpected and historic winner for best original song at the Golden Globes Tuesday, beating out Taylor Swift, Lady Gaga and Rihanna. Majumdar said she was surprised but thrilled “Naatu Naatu” took home the award. “Earlier, that was seen as a feature that was strange about Indian cinema. Keeravani accepts the Best Original Song award for "Naatu Naatu" from "RRR" during the Golden Globe Awards in Beverly Hills, Calif., on Tuesday. “When I envisioned the ‘Naatu Naatu’ song,” Rajamouli told Variety.

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