Latest news with #FarahMaster
Japan Today
28-07-2025
- Climate
- Japan Today
Rains intensify around Beijing, 4,400 evacuated
FILE PHOTO: Villagers clear the mud from a street after heavy rainfall flooded Yi county of Baoding, Hebei province, China July 26, 2025. cnsphoto via REUTERS/File Photo By Farah Master and the Beijing newsroom Heavy rain intensified around Beijing and nearby provinces in northern China on Monday, exacerbating the risks of disasters including landslides and flooding, authorities said, as they relocated more than 4,400 people. Colossal rain continued to pound the suburban area of Miyun in Beijing causing flash floods and landslides, and many villages were affected, state broadcaster CCTV reported. Images circulated on China's Wechat app showed areas of Miyun where cars and trucks were floating on a flooded road where water levels had risen so high that it had submerged part of a residential building. Electricity cuts are also affecting more than 10,000 people, in the area, CCTV said. Northern China has seen record precipitation in recent years, exposing densely populated cities, including Beijing, to flood risks. Some scientists link the increased rainfall in China's usually arid north to global warming. The storms are part of the broader pattern of extreme weather across China due to the East Asian monsoon, which has caused disruptions in the world's second-largest economy. Xiwanzi Village in Shicheng Town, near Miyun Reservoir, was severely affected, CCTV said on Monday with an additional 100 villagers transferred to a primary school for shelter. It comes after the maximum flood peak flow into the Miyun reservoir reached a record high of 6550 cubic meters per second, Beijing authorities said on Sunday. In neighbouring Shanxi province, videos from state media showed roads inundated by strong gushing currents and submerged vegetation including crops and trees. Shaanxi province, home to China's historic city of Xian, also issued flash flood disaster risk warnings on Monday. In Beijing's Pinggu District, two high-risk road sections have been sealed, authorities said. Authorities are carrying out search and rescue work across cities including Datong, where a driver in a Ford car has lost contact while driving in the floods, the People's Daily reported. China's Water Resources Ministry has issued targeted flood warnings to 11 provinces and regions, including Beijing and neighbouring Hebei, for floods from small and midsize rivers and mountain torrents. Two were dead and two missing in Hebei province, CCTV said on Sunday morning. Overnight rain dumped a record 145 mm (5.7 inches) per hour on Fuping in the industrial city of Baoding. China's National Development and Reform Commission said on Monday that it was urgently arranging 50 million yuan ($6.98 million) to support Hebei. The funds would be used to repair damaged roads and bridges, water conservancy embankments, schools and hospitals in the disaster area. The NDRC said it was "promoting the restoration of normal life and production as soon as possible." Chinese authorities closely monitor extreme rainfall and severe flooding are, as they challenge the country's ageing flood defences, threaten to displace millions and wreak havoc on China's $2.8 trillion agricultural sector. © (c) Copyright Thomson Reuters 2025.
Business of Fashion
21-07-2025
- Business
- Business of Fashion
Hong Kong Investigates Louis Vuitton Data Leak
Hong Kong's privacy watchdog said on Monday that it was investigating a data leak at Louis Vuitton affecting about 419,000 customers, just after a cyberattack on the luxury brand in South Korea in June. Leaked data included names, passport details, addresses and email addresses as well as phone numbers, shopping history and product preferences, Hong Kong's Office of the Privacy Commissioner for Personal Data said in an emailed statement. Louis Vuitton submitted the data breach incident to the office on July 17. Its French head office found suspicious activities on its computer system on June 13 and then discovered on July 2 that it affected Hong Kong customers, the statement said. The office said it had launched an investigation into Louis Vuitton Hong Kong, including whether the incident involved delayed notification. No relevant complaints or inquiries have been received so far, it said. The incident comes after a systems breach at Louis Vuitton in Korea in June led to the leak of some customer data, including contact information, but it did not involve customers' financial information, the company said. Louis Vuitton did not immediately respond to requests for comment. By Farah Master; Editor: Christian Schmollinger Learn more: Explainer: How Retailers Can Fight a New Wave of Cyberattacks A series of breaches at high-profile retailers like Victoria's Secret and Marks & Spencer is putting cybersecurity back in the foreground. BoF examines what leaves fashion businesses vulnerable and how they can protect themselves.
Mint
21-07-2025
- Business
- Mint
China embarks on worlds largest hydropower dam, capital markets cheer
By Farah Master and Samuel Shen HONG KONG/SHANGHAI -China's Premier Li Qiang announced construction had begun on what will be the world's largest hydropower dam, on the eastern rim of the Tibetan Plateau, at an estimated cost of at least $170 billion, the official Xinhua news agency said. Commencement of the dam, China's most ambitious hydropower project since the Three Gorges Dam on the Yangtze, was seized by Chinese markets as proof of economic stimulus, sending stock prices and bond yields higher on Monday. Made up of five cascade hydropower stations with the capacity to produce 300 billion kilowatt-hours of electricity annually, equal to the amount of electricity consumed by Britain last year, the dam will be located in the lower reaches of the Yarlung Zangbo. A section of the river falls 2,000 metres within a span of 50 km , offering huge hydropower potential. India and Bangladesh have already raised concerns about its possible impact on the millions of people downstream, while NGOs warned of the risk to one of the richest and most diverse environments on the plateau. Beijing has said the dam will help meet power demand in Tibet and the rest of China without having a major effect on downstream water supplies or the environment. Operations are expected sometime in the 2030s. China's CSI Construction & Engineering Index jumped as much as 4% to a seven-month high. Power Construction Corporation of China and Arcplus Group PLC surged by their 10% daily limit. "From an investment perspective, mature hydropower projects offer bond-like dividends," Wang Zhuo, partner of Shanghai Zhuozhu Investment Management said, while cautioning that speculative buying into related stocks would inflate valuations. The project will drive demand for construction and building materials such as cement and civil explosives, Huatai Securities said in a note to clients. Shares of Beijing-listed Hunan Wuxin Tunnel Intelligent Equipment Co, which sells tunnel construction equipment, surged 30%. So did shares of Geokang Technologies Co Ltd, which makes intelligent monitoring terminals. Cement maker Xizang Tianlu Co Ltd and Tibet GaoZheng Explosive Co, producer of civil explosive materials, both jumped their maximum 10%. The Chinese premier described the dam as a "project of the century" and said special emphasis "must be placed on ecological conservation to prevent environmental damage," Xinhua said on Saturday. Government bond yields rose across the board on Monday, with the most-traded 30-year treasury futures falling to five-week lows, as investors interpreted the news as part of China's economic stimulus. The project, overseen by the newly formed state-owned China Yajiang Group, marks a major boost in public investment to help bolster economic growth as current drivers show signs of faltering. "Assuming 10 years of construction, the investment/GDP boost could reach 120 billion yuan for a single year," said Citi in a note. "The actual economic benefits could go beyond that." China has not given an estimate on the number of jobs the project could create. The Three Gorges, which took almost two decades to complete, generated nearly a million jobs, state media reported, though it displaced at least a similar number of people. Authorities have not indicated how many people would be displaced by the Yarlung Zangbo project. NGOs say the dam will irreversibly harm the Tibetan Plateau and hit millions of people downstream. The Yarlung Zangbo becomes the Brahmaputra River as it leaves Tibet and flows south into India and finally into Bangladesh. This article was generated from an automated news agency feed without modifications to text.
The Print
16-07-2025
- Business
- The Print
Lion cub cuddles on offer with afternoon tea in China
The Wanhui restaurant in Taiyuan city features llamas, turtles and deer in addition to the cubs on its page on Douyin , China's counterpart to social media app TikTok. Customers cradled the lion cubs as if they were babies in pictures and video clips posted online on China's Wechat and Weibo platforms. HONG KONG (Reuters) -Teatime revels in China now include hugs with lion cubs in a four-course afternoon set offered by a restaurant in the northern province of Shanxi, drawing widespread attention online and fuelling concern for the animals' welfare. Wanhui, which opened in June, sells about 20 tickets a day to customers looking to snuggle with the animals as part of a set menu costing 1,078 yuan ($150), the state-run Shanghai Daily said on its official Wechat page. 'The service has raised serious concerns about legality and animal welfare,' the English-language newspaper added. Reuters was unable to independently contact Wanhui. Online comments were mostly critical, saying the venture was dangerous and not good for the animals. 'This is for the rich to play,' said one Weibo user. 'Ordinary people even can't afford to drink.' Another user urged action by the authorities, adding, 'The relevant departments should take care of it.' The incident comes just after authorities investigated a hotel in June for offering a 'wake-up service' starring red pandas, state media said. The hotel in the southwestern region of Chongqing allowed the animals to climb onto beds to awaken guests. ($1=7.1806 Chinese yuan renminbi) (Reporting by Farah Master in Hong Kong and the Beijing newsroom; Editing by Clarence Fernandez) Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibility for its content.
Yahoo
30-05-2025
- Business
- Yahoo
China sets up international mediation body in Hong Kong
By Joyce Zhou and Farah Master HONG KONG (Reuters) - Chinese Foreign Minister Wang Yi signed a convention setting up an international organisation for mediation in Hong Kong on Friday that Beijing hopes will be on par with the International Court of Justice and bolster the financial hub's international credentials. The inauguration comes amid growing geopolitical tensions which have been exacerbated by U.S. President Donald Trump's global trade war and fuelled risks of a sharp worldwide economic downturn. Escalating trade tensions between China and the U.S. have been a focal point for investors and markets in recent months, with the trade war leading to significant impacts on global commerce and supply chains. The mediation body aims to cement Hong Kong's presence as a top centre to resolve disputes between countries, leader John Lee said earlier this week, adding that it's status would be on par with the International Court of Justice and the Permanent Court of Arbitration of the United Nations in The Hague. It would help bring "substantial" economic benefits and job opportunities and stimulate various sectors including hospitality and transport, Lee said. Indonesia, Pakistan, Laos, Cambodia and Serbia are among the countries attending the ceremony. Representatives from 20 international bodies including the United Nations were also expected to join, public broadcaster RTHK said. (This story has been refiled to drop repetitive words from the headline) (Additional reporting by Joe Cash and the Beijing newsroom; Writing by Farah Master; Editing by Tom Hogue and Michael Perry)
