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24.09.2024 7:34
China announces key lending rate cuts to counter economic woes - Nikkei Asia SHANGHAI -- China's central bank on Tuesday announced a string of monetary easing measures and policies to support the housing market as it battles an economic slowdown.Announcing the measures, People's Bank of China Gov. Pan Gongsheng said the reserve requirement ratio -- the amount of money that commercial lenders must hold -- will be reduced by half a percentage point. The cut will result in long-term liquidity of about 1 trillion yuan flowing into the financial market, he said. 

24.09.2024 7:39
Japan PM hosts meeting to launch grouping on nuclear disarmament Japanese Prime Minister Fumio Kishida on Monday hosted a high-level meeting aimed at increasing momentum to initiate talks on a multinational pact banning the production of nuclear materials that have the potential to be used in weapons. The meeting in New York, held on the margins of annual U.N. General Assembly events, was attended by representatives from nuclear powers Britain, France and the United States as well as a number of non-nuclear countries also including Australia, Brazil, Nigeria and the Philippines. Read full story here

24.09.2024 7:48
Nippon Steel aims to rewrite 'inaccuracies' by USW over U.S. Steel deal - Nikkei Asia TOKYO -- Nippon Steel has addressed a letter to U.S. Steel employees aiming to directly communicate its commitments regarding the planned buyout of the company and straighten out what it calls incorrect claims made by the leadership of the United Steelworkers union.USW's public communications include "numerous inaccuracies about the commitments" that the Japanese company has made to U.S. Steel's workers, said the letter, signed by Nippon Steel Vice Chairman Takahiro Mori and published on Tuesday on a website dedicated to the deal. "We want to set the record straight and share those commitments directly with you."

24.09.2024 8:00
The Clean Energy Transition Is Already Underway Energy Secretary Jennifer M. Granholm spoke with International Energy Agency executive director Faith Birol and Iberdrola executive chairman Ignacio Gal?n during a panel at the inaugural TIME100 Climate Leadership Forum.

24.09.2024 8:07
Cash-starved China local governments step up fines with 'grabbing hands' - Nikkei Asia HONG KONG -- Earlier this year, an entrepreneur in one of China's most developed provinces was abruptly detained, together with two dozen of his employees. The police, from a less developed northeastern province, asked him to pay a penalty for alleged misconduct to avoid prosecution. The businessman handed over 50 million yuan ($7 million), after which the police released him and his staff, people with direct knowledge of the matter told Nikkei Asia.Cases like this have become increasingly common, insiders say, as Chinese local governments scramble to refill dwindling coffers as the country's property crisis drags on. Land sales, a crucial source of local government income, fell 41.8% on the year in August, the biggest single-month drop since June 2015.