Thursday, August 13, 2015
TIANJIN, China -- Huge explosions in a warehouse district sent up massive fireballs that turned the night sky into day, killing at least 44 people and injuring hundreds in the Chinese port city of Tianjin, officials and witnesses said Thursday.
SHANGHAI - China weakened its currency for the third consecutive day Thursday, but financial markets that had been shaken by the surprise devaluation took heart as authorities pledged not to let the yuan plummet.
China cut the yuan's value against the U.S. dollar for the second consecutive day Wednesday, roiling global financial markets and driving expectations the currency could be set for further falls.
British Foreign Secretary Philip Hammond said Wednesday that an international agreement to limit Iran's nuclear program could give impetus to efforts aimed at curbing North Korea's nuclear weapons program.
Around 40 people were missing in mainland China Wednesday after a landslide buried the living quarters of a mining company under 1 million cubic meters of earth, local authorities and state media said.
The Chinese yuan is expected to continue to fall further in the second half of this year after the latest steep decline, but the pace of the currency's depreciation will become slower, an analyst said Wednesday.
Wednesday, August 12, 2015
China's currency fell further Wednesday following a surprise change in its exchange rate mechanism that rattled global markets and threatens to fan trade tensions with the United States and Europe.
Mainland China's central bank on Tuesday devalued its yuan currency by nearly 2 percent against the U.S. dollar, as authorities seek to push market reforms and bolster the world's second-largest economy.
Tuesday, August 11, 2015
Anti-graft authorities have busted a low-level Beijing official for allegedly embezzling more than US$130 million, state media reported -- one of the largest amounts revealed in the corruption crackdown under leader Xi Jinping.
Lurid allegations against the head of China's Shaolin temple -- renowned as the birthplace of kung fu -- must be investigated by the government, state media said Monday, after former monks accused him of philandering and corruption.