Shanghai will switch off decorative lights along its famed Bund riverfront for two days from Monday as a nationwide heatwave sends power demands soaring, city authorities said.. To save power, Shanghai authorities said in a notice Sunday that they would switch off "landscape lighting" at the Bund, the city's most famous landmark.
China's central bank on Monday cut benchmark loan rates in an attempt to boost an economy battered by the government's strict zero-Covid policy and a slump in the property market.. Analysts had expected cuts to the LPR rates, but said they may not be enough to rescue the property sector -- which is estimated to account for as much as a quarter of China's GDP. "The much larger cut to the five-year rate suggests the PBOC is particularly concerned about problems in the housing market," Capital Economics said in a note on Monday.
Asian markets were broadly lower Monday as the rally from June's lows runs out of steam owing to renewed concerns about Federal Reserve plans to ramp up interest rates to combat runaway inflation.. But that optimism has slowly been eroded in recent weeks as Fed officials, including Powell, have warned that the battle against inflation was far from won, particularly as the jobs market remained resilient.
Woolly socks and thermostats turned down a notch: Europeans are preparing for a difficult winter without gas supplies from Russia, part of the fallout from the war in Ukraine.. - 'Operation Thermostat' - The gas supply from Russia to Germany from the Nord Stream 1 pipeline has already been drastically cut back.
US central bankers have been hammering home a single message: Interest rates will rise until inflation begins to come down.. Stocks on Wall Street have risen for four straight weeks, despite a string of officials repeating the message that rates will continue to rise, even though annual inflation slowed in July as oil prices fell.
The closest most people get to owning a world-famous artwork is to buy a cheap poster from a gallery, but art dealers are determined to harness technology to draw in new collectors.. Collectors and artists are among the most eager experimenters with the technology, even if it means owning only a slice of a digital copy of a painting.
As it prepares to expand to serve a population now exceeding 20 million, the Cairo metro has recruited Egypt's first female train drivers, a novelty in a country where few women have formal jobs.. With the Cairo metro planning to add three new lines as well as Egypt's first monorail system, Omar said she hoped her example would help "pave the way for other women" to become train drivers and ensure "that there's a lot of us". sar/sbh/bha/kir/lg/smw
Greece on Saturday concluded 12 years of European Union fiscal surveillance that was imposed in return for bailouts after a crushing debt crisis.. "The sovereign debt crisis that defined the first years of the previous decade was a steep learning curve for our Union.
Chinese regulators on Friday offered repayments to more customers of rural banks whose withdrawals were frozen, in the ongoing saga of one of the country's biggest-ever banking scandals that triggered rare mass protests. . Regulators have since been gradually offering repayments to more customers with deposits of higher value.
British retail sales surprisingly rose overall in July but consumer confidence is at a record-low level as the UK heads towards recession under a new leader, data showed Friday.. Separate data Friday showed UK consumer confidence at a record low.
