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Tag: asia

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Bihar report details abuse, neglect in care homes across Indian state

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New Delhi, India (CNN)Disadvantaged children and adults living in care homes in the Indian state of Bihar were subjected to sustained sexual, mental and physical abuse, according to a newly released report that has caused national outcry and demands for reform. “The girls had no access to any sort of open space and were literally locked up in their wards except for when they went to the dining hall to take their meals. Vocational trainings and recreation were unheard of,” reads the report.   Allegations from other homes detailed severe…

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Afghan forces confront Taliban militants in Ghazni days after brazen attack

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(CNN)Afghan security forces are engaged in intense fighting with Taliban militants in Ghazni, three days after the start of an offensive on the strategic city that has so far killed more than 150 people, according to a local member of parliament. The move perhaps the most serious challenge to the government’s hold in urban areas since the Taliban briefly occupied the city of Kunduz in 2015, and comes at a time when the Trump administration appears to be accelerating negotiations with an insurgency it has been fighting for 17 years.…

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Asia Stocks Mixed on Trade Volleys; Kiwi Slumps: Markets Wrap

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Asian stocks traded mixed as China hit back against the Trump administration’s latest tariffs and tensions ratcheted up between the U.S. and Russia. The yen edged higher, while oil held on to its losses. Shares fell in Japan and South Korea, fluctuated in Hong Kong, and pushed higher in China and Australia. Treasuries added to gains made as investors scooped up a record $26 billion 10-year auction. The kiwi tumbled to a two-year low after the New Zealand central bank pushed out its forecast for a rate increase by a…

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At least 91 dead after powerful earthquake strikes Indonesian resort islands of Bali, Lombok

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(CNN)At least 91 people were killed when a 6.9-magnitude earthquake and strong aftershocks rocked Indonesia’s resort islands of Bali and Lombok on Sunday, causing people to rush out of homes, hotels and restaurants. The quake occurred in the early evening after sunset and was the second powerful temblor on Lombok in a week. A 6.4-magnitude earthquake shook the island July 29, killing more than a dozen people and briefly stranding hundreds of hikers on the slopes of a volcano. The United States Geological Survey slightly downgraded Sunday’s quake after initially…

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Japan: Deadly heat wave continues as temp hits record 41.4C near Tokyo

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Tokyo (CNN)Dozens of people have died across Japan as the country continues to swelter under scorching summer temperatures. The authorities have forecast extreme high temperatures — exceeding 35C (95F) — for most of Honshu, Shikoku and Kyushu islands, with northerly Hokkaido the only one of the country’s four main islands to escape the scorching heat. “Potential for heat illness is higher than usual,” the agency said in a statement, adding that people should “take appropriate measures,” including drinking lots of water, staying away from direct sunlight and using air conditioners.…

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Second Philippine mayor shot dead in two days

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(CNN)A second town mayor in the Philippines has been shot and killed by an unknown assailant, a day after one was assassinated by a sniper in a brazen daylight attack. “We assure everyone that we would discharge the state obligation for every murder. We will spare no effort in getting to the bottom of this latest violent crime,” presidential spokesperson Harry Roque said. The killing comes just over 24 hours after Tanauan City Mayor Antonio Halili was killed by a single shot to the chest while attending a flag-raising ceremony.…

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The Hedge Fund Summer Reading List

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It’s that time of year again: summer reading season. While for many that means books for the beach, some emerging-market fund managers are yearning for titles that shed light on buying opportunities in Asia as well as the human psychology behind investing decisions. Asha Mehta, who oversees emerging markets at Acadian Asset Management in Boston, said she’s eager to crack Evan Osnos’s "Easternization: Asia’s Rise and America’s Decline From Obama to Trump and Beyond," which looks at how the rising wealth of Asian nations is shifting the balance of power…

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Shale Country Is Out of Workers and Dangling 100% Pay Hikes

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Jerry Morales, the mayor of Midland, Texas, and a local restaurateur, is being whipsawed by the latest Permian Basin shale-oil boom. It’s fueling the region and starving it at the same time. Sales-tax revenue is hitting a record high, allowing the city to get around to fixing busted roads. But the crazy-low 2.1 percent unemployment rate is a bear. As the proprietor of Mulberry Cafe and Gerardo’s Casita, Morales is working hard to retain cooks. As a Republican first elected in 2014, he oversees a government payroll 200 employees short…

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Family of suicide bombers attacks 3 churches in Indonesia, killing 7, police say

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Jakarta (CNN)A husband and wife used their four children in a string of deadly suicide attacks on three churches in the Indonesian city of Surabaya that left seven people dead, according to the country’s ranking police official. The six bombers also died, Karnavian said. Investigators believe the parents belong to Jamaah Ansharut Daulah, a terrorist group that lends its support to ISIS in Indonesia, the police general said. Through its Amaq News Agency, ISIS claimed responsibility for what it called “martyrdom attacks” in the port city on the east coast…

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North Korea will close nuclear test site in May, South says

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Seoul (CNN)North Korean leader Kim Jong Un will shut down his nuclear test site in May and invite experts and journalists from South Korea and the United States into the country to ensure “transparency” around its closure, South Korea’s presidential office said Sunday. “The United States, though inherently hostile to North Korea, will get to know once our talk begins that I am not the kind of person who will use nuclear weapons against the South or the United States across the Pacific,” Kim was quoted as saying by Moon’s…

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China Is Studying Yuan Devaluation as a Tool in Trade Spat

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Chinese leaders are weighing options as trade tensions rise Trump bashed China’s currency policy on the campaign trail Other markets have been far more turbulent as both the U.S. and China proposed tariffs on $50 billion of goods and Trump instructed his administration to consider levies on an additional $100 billion of Chinese products. currency manipulator, make it more difficult for Chinese companies to service their mountain of offshore debt, and undermine recent efforts by the government to move toward a more market-oriented exchange rate system. It would also expose…

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Uber Agrees on Southeast Asian Sale to Grab

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Uber Technologies Inc. has reached an agreement to sell its Southeast Asian ride-hailing business to rival Grab and could announce the deal as early as Monday morning in Singapore, people familiar with the matter said. The agreement — which includes all of Uber’s operations in Southeast Asia as well as Uber Eats in the region — gives the U.S. company a stake of between 25 percent and 30 percent in the new combined business, the people said, asking not to be identified ahead of an official announcement. The deal, which…

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Uber Pulls Out of Southeast Asia, Selling Operation to Rival Grab

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Uber Technologies Inc. has agreed to sell its Southeast Asian operations to Grab, withdrawing from yet another fast-growing region to end a war of attrition with a fierce local rival. Under the agreement, Grab will acquire all of Uber’s operations in a region of 620 million people, including food delivery service UberEats. The U.S. ride-hailing behemoth in return gets a 27.5 percent stake in a combined entity and its chief executive officer will join the board of the Singapore-based company. Bloomberg News reported over the weekend that the two companies…

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