Cyclone Tej Threatens Oman’s Dhofar Region; Authorities Prepare for Impact
The Sultanate of Oman is facing a formidable challenge with Cyclone Tej, which has intensified into a Category 3 storm and threatens to become a Category 4 cyclone. The region, particularly Dhofar, is on high alert due to the expected heavy rainfall and flash flood warnings. The authorities are actively working to evacuate residents from vulnerable areas, preparing shelters, and ensuring a swift emergency response. Safety measures, such as official holidays for employees and medical preparedness, have been put in place. Cyclone Tej underscores the urgency of climate resilience and proactive disaster management in today’s world.
Philippines Implements Measures to Tackle Inflation and Rice Prices
The Philippines is taking proactive measures to combat rising inflation and stabilize rice prices, a significant staple. Among these measures, a proposed reduction in rice import tariffs aims to lower consumer costs. The government also encourages private-sector-driven rice imports while expediting shipment clearance processes, ensuring sufficient rice supply. To address potential crop losses due to El Niño, the farm ministry recommends additional rice imports of 500,000 metric tons. Despite recent inflation challenges, authorities are optimistic about price stability as farmers prepare to harvest around five million metric tons of rice in the coming months, contributing to the country’s annual target.
China Plans Shanghai-Hangzhou Hyperloop Train by 2035
China is all set to build its first hyperloop train line between Shanghai and Hangzhou, according to the nation’s top engineering and rail design institutes.
Ant-linked firms’ shares rise after news of Jack Ma ceding control; Alibaba jumps
Shares of listed Chinese companies that count Ant Group as a major shareholder rose on Monday after announcements that Ant founder Jack Ma is giving up control of the fintech giant following an overhaul.
Japan ramps up intervention threats after yen slides past key 150 level
Japanese policymakers made fresh threats of intervention on Thursday after the yen tumbled past the key psychological level of 150 to the dollar, keeping investors on high alert in case Tokyo steps into markets again to support the fragile currency.
Analysis: China’s mortgage boycott quietly regroups as construction idles
Two months since many Chinese homebuyers stopped repaying mortgages to protest stalled construction on their properties, a lack of progress at more sites now threatens to intensify the boycott, despite assurances from authorities.
EXCLUSIVE Ukraine war spurs U.S. to ramp up security probe of software maker Kaspersky
The Biden administration ramped up a national security probe into Russia’s AO Kaspersky Lab antivirus software earlier this year amid heightened fears of Russian cyberattacks after Moscow invaded Ukraine, three people familiar with the matter told Reuters.
Binance gets its first Gulf crypto licence in Bahrain
The world’s largest cryptocurrency exchange Binance has been given a crypto-asset service provider licence by Bahrain’s central bank, its first such licence in the Gulf Cooperation Council (GCC), the company and the bank said on Tuesday.
Chinese cities tighten COVID-19 curbs as Tianjin battles Omicron outbreak
Cities across China are imposing tougher restrictions to try to control new outbreaks of COVID-19, with Tianjin battling the highly contagious Omicron variant which has been detected to have been transmitted locally in two other provinces.
China’s Didi plans Hong Kong ‘listing by introduction’, picks banks -sources
China’s ride-hailing giant Didi Global (DIDI.N) plans to use a mechanism that will allow it to list shares in Hong Kong without raising capital or issuing new stock as it seeks to delist from New York, two people with knowledge of the matter said.
