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Hindustan Times
26-05-2025
- Climate
- Hindustan Times
Heavy rain lash Mumbai; parts of city under red, orange alert today
Mumbai rain: Heavy rain battered Mumbai late on Sunday, with the India Meteorological Department (IMD) issuing orange and red alerts for several parts of the city as well as its suburban areas. Several parts of the city also suffered from waterlogging, which disrupted traffic movement. Early on Monday morning, around 3 am, the weather office took to X and said, "Light to moderate spell of rainfall is likely to continue over Mumbai and suburban areas during next 3-4 hours." The weather forecast for the day, as per IMD, is "generally cloudy sky with heavy rain". The minimum temperature on Monday is likely to settle at 24 degrees Celsius, while the maximum is expected to be around 31 degrees Celsius. The weekly weather prediction board for Mumbai showed rain being consistent for this entire week. According to IMD, a well-marked low-pressure area was lying over south madhya Maharashtra and adjoining areas of Marathwada and North Interior Karnataka on Sunday, May 25. It stated that the area is likely to move eastwards during the next 24 hours, and then would eventually weaken. The weather office forecast that scattered to fairly widespread light to moderate rainfall along with thunderstorms, lightning and gusty winds is reaching Konkan and Goa, Madhya Maharashtra during May 25-27. The Madhya Maharashtra region is under orange alert for Monday, with the regional weather office forecasting "very heavy rain with thunderstorms and lightning, squall, etc". Eight weather stations in Mumbai are under red alert - Borivali, Santacruz, Powai, Mulund, Chembur, Worli, Colaba, and Alibag. The weather stations of Navi Mumbai, Thane, and Kalyan are under orange alert. As per Nowcast warnings, Raigad district is under red alert. The IMD forecast moderate thunderstorms and heavy rainfall, with maximum surface wind speeds expected on Monday. Meanwhile, Thane and Palghar districts are under orange alert. The southwest monsoon arrived in Maharashtra on Sunday, making it the earliest onset of the annual rainfall season over the state in 35 years, the weather office said. It added that the monsoon is expected to advance to Mumbai and some other parts of the state over the next three days. Southwest monsoon made an onset over Maharashtra on May 20 in 1999, IMD scientist Sushma Nair was cited as saying by news agency PTI. Kerala also witnessed an early arrival of the southwest monsoon on Saturday. Usually, it marks its onset over Kerala by June 1 and then reaches Maharashtra around June 7, and Mumbai on June 11. A monsoon expert and former secretary of the Ministry of Earth Sciences, M Rajeevan, said that early onset and coverage of large areas on the first day itself is not uncommon. "In 1971, the monsoon at the time of onset covered a larger area in Karnataka and parts of Maharashtra. Present active monsoon conditions will continue at least till June 2 and will help to advance monsoon into Maharashtra and eastern parts of the country," Rajeevan said.
The Hindu
13-05-2025
- Climate
- The Hindu
New Mangaluru radar to power hyper-local weather alerts in Kerala
With the harrowing memory of last year's devastating Mundakkai–Chooralamala landslide in Wayanad still fresh in the minds of the people of Kerala, the India Meteorological Department (IMD) has stepped up its efforts to enhance weather prediction accuracy. A newly commissioned radar in Mangaluru is expected to significantly bolster localised weather forecasting for the region. IMD Regional Director Neetha K. Gopal said on Tuesday (May 13) that under the existing 'Nowcast' system, which delivers real-time weather updates, the department would now issue hyper-local alerts. This marks a shift from the current system, which provides weather information on a district-wide basis. 'With the new radar analysis, we will be able to provide a more localised weather warning system against the present practice of providing district-wise alerts,' Ms. Gopal said. The districts of Kasaragod, Kannur, Kozhikode, and Wayanad will be covered by the new radar. 'When we are able to provide localised weather information, an alert need not be issued for the entire district, but only for the area that is going to be affected,' she said. The IMD staff are now being trained to provide this data accurately, and alerts will be issued both in English and Malayalam to the public, avoiding a delay in translation, Ms. Gopal added. The south-west monsoon has already reached Andamans, its first entry point, and it is expected to hit the Kerala coast on May 27. The Monsoon onset this year is earlier than normal. The south-west monsoon usually travels from Andamans to the Kerala coast in 10 days, and the director said that this year also the progression would happen during the same time period, and that no disruptions were expected. 'We do not see any chances for formation of cyclonic storms or low pressure en route as these are the factors that usually disrupt the smooth progression of the monsoon,' she added. The cloud movement direction has already changed from east to west to west to east, bringing in pre-monsoon showers in various parts of Kerala. The westerly winds are expected to bring in more rains, increasing the soil saturation levels in Kerala. The IMD has predicted an above-normal monsoon across India this year. This, coupled with an increased soil saturation rate, is a possible recipe for natural disasters like landslides, officials said. Kerala has witnessed extreme weather events in recent history, and the localised weather warning would help the State authorities to prepare themselves better, they added.
Zawya
04-03-2025
- Business
- Zawya
Atlanta Fed shock sounds 'Trumpcession' warning: McGeever
(The opinions expressed here are those of the author, a columnist for Reuters.) ORLANDO, Florida - "Trumpcession". If you haven't heard the term before, you will now, as a closely watched real-time U.S. economic weathervane is signalling that GDP is shrinking at the fastest pace since the pandemic lockdown. The Atlanta Fed's GDPNow model estimate for annualized growth in the current quarter was a stunning -2.8% on Monday, down from +2.3% last week. A month ago the model showed that growth in the January-March period was tracking close to +4.0%. These estimates are published regularly as new economic data is released, and can be quite volatile. There were 11 in February alone. Friday's shock reading of -1.5% was led by a record-high $153 billion trade deficit in January, most likely as firms front-loaded imports ahead of tariffs, and Monday's decline was driven by soft manufacturing activity. There's every chance -2.8% turns into a positive reading in a few weeks. True, the Atlanta Fed number is an outlier for now. The New York Fed's equivalent Nowcast real-time tracking model was updated on Friday to +2.9% annualized growth in Q1 from +3.0%. And the Dallas Fed's "weekly economic index", which doesn't include the most recent data, was showing +2.4% on February 27. But the Atlanta Fed's GDPNow real-time estimates are historically the most reliable of these models, and the negative figures didn't come out of nowhere. A lot of soft economic indicators, like sentiment surveys, have been extremely weak in recent weeks, and some hard economic activity indicators are flashing red too. Consumer sentiment in January slumped the most in three and a half years, retail sales dropped by the most in nearly two years, real spending fell at the fastest rate since early 2021, and retail giant Walmart has warned of a tough year ahead. It's perhaps no surprise that Citi's U.S. economic surprises index has slid into negative territory, hitting the lowest point since September. A common thread running through all of this is the huge level of uncertainty being created by U.S. President Donald Trump's agenda: trade protectionism, particularly tariffs; his apparent growing closeness with Russia and distance from traditional allies like Europe; and the DOGE (Department of Government Efficiency) scythe being taken to federal spending and employment. NEGATIVE WEALTH EFFECT Markets are certainly signaling there could be trouble ahead. The Nasdaq has lost as much as 9% in 10 days, with Big Tech down even more. Investors are seeking the safety of U.S. Treasuries: the two-year yield on Friday fell below 4.00% for the first time since October, and the 10-year yield has tumbled 60 bps since mid-January. These moves could matter to the real economy because of the "wealth effect". As Moody's Mark Zandi noted recently, the top 10% of American households now account for around half of all consumer spending. That's a record. They also own a lot of stocks, and if Wall Street is heading south, they are more likely to tighten their belts. Economist Phil Suttle said he expected Trump's agenda to weigh on the economy this year, but didn't expect it to have such an apparently negative impact so quickly. But if the "blunt and chaotic" implementation of Trump's spending and trade policies hit growth harder than imagined, the Federal Reserve may cut rates in the second quarter, Suttle reckons. The Fed's rate-cutting cycle is on hold for now, largely because of the uncertainty surrounding Trump's trade and fiscal policies. But an impending "Trumpcession" probably wasn't on policymakers' mind when they pressed the pause button. It likely is now. (The opinions expressed here are those of the author, a columnist for Reuters.) (By Jamie McGeever)
Korea Herald
15-02-2025
- Business
- Korea Herald
Korea's restaurant closures hit 19-year high as industry struggles with rising costs
South Korea's restaurant industry is in the midst of its worst downturn in nearly two decades, with over 107,000 eateries shutting down in 2024 -- the highest number on record. For the first time in 16 years, more restaurants closed than opened, signaling a shift in a sector once known for its resilience and fierce competition. A combination of rising ingredient costs, slowing consumer spending, and post-pandemic economic struggles has created a perfect storm in the industry. According to government data, 10.4 percent of full-service restaurants closed in 2024, the highest closure rate since 2005. In the capital city of Seoul, the rate was even higher at 13 percent, while Sejong City saw a staggering 14.6 percent closure rate. These figures reflect a growing financial strain on restaurant owners, who have faced mounting challenges since the COVID-19 pandemic reshaped the dining industry. Rising costs and shrinking profits One of the biggest pressures on restaurant owners has been the relentless rise in ingredient costs. Food prices have soared, squeezing already thin profit margins. Government data shows that while South Korea's overall inflation rate was 2.3 percent in 2024, agricultural product prices jumped 10.4 percent -- on top of significant increases in previous years. Restaurant owners have tried to offset these costs by raising menu prices, but even then, usually not by as much. Over the past three years, dining prices increased by 7.7 percent in 2022, 6.0 percent in 2023, and 3.1 percent in 2024. However, consumers began cutting back on dining out due to financial pressures, meaning overall takings fell even as the amount charged per item rose. South Korea's high interest rates and rising living costs have reduced household spending power, forcing many families to dine out less frequently or opt for cheaper alternatives. A market that no longer replaces its losses For years, South Korea's restaurant industry operated on a cycle of constant renewal -- one business would close, but another would quickly take its place. From 2019 to 2023, more than 100,000 new restaurants opened annually, offsetting closures. But in 2024, this trend reversed. 5,374 more restaurants closed than opened, marking the first net decline since 2008. The restaurant industry's struggles are reflected in broader economic indicators. Statistics Korea's Nowcast index, which tracks real-time industry performance, showed a 1.54 percent drop in delivery-based restaurant sales in 2024 compared to the previous year. Meanwhile, inflation-adjusted restaurant industry output rose 13.9 percent in 2022 when government stimulus programs supported small businesses but fell 0.6 percent in 2023 and 1.9 percent in 2024. The decline accelerated in December, with restaurant sales plummeting 3.3 percent year-over-year, signaling a deepening slump in consumer demand. Looking ahead, economic forecasts suggest that South Korea's restaurant industry may face even tougher times in 2025. The Bank of Korea recently lowered its economic growth forecast to 1.6–1.7 percent, citing a sharp contraction in domestic consumption. This is a further slowdown from 2.0 percent growth in 2024, raising concerns that restaurant owners may see even fewer customers and higher operating costs in the coming year.
