Latest news with #LPR
Yahoo
2 days ago
- Business
- Yahoo
China expected to keep lending rates steady, focus turns to Politburo meet
SHANGHAI (Reuters) -China is widely expected to leave its benchmark lending rates unchanged at a monthly fixing on Monday, a Reuters survey showed, as signs of economic resilience reduced the urgency for further monetary easing. The loan prime rate (LPR), normally charged to banks' best clients, is calculated each month after 20 designated commercial banks submit proposed rates to the People's Bank of China (PBOC). In a Reuters survey of 20 market watchers conducted this week, all respondents expected both the one-year and five-year LPRs to remain steady. Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages. The consensus of no immediate monetary easing comes as data this week showed China's second-quarter gross domestic product (GDP) growth nudged slightly above market expectations, even though weak domestic demand and uncertainty around U.S. tariffs have raised economic risks. "Although continued downward price pressures and sluggish loan demand present a solid case for further easing, the PBOC may opt to hold off until a more opportune window," said Lynn Song, chief China economist for Greater China at ING. "We continue to expect one more 10-basis-point rate cut and 50-basis-point reserve requirement ratio (RRR) cut before year-end." For now, market attention would be squarely on the Politburo meeting later this month, which is likely to shape economic policy for the rest of the year, traders and analysts said. "With H1 real GDP growth still solid, we do not think policymakers see the immediate need to launch broad-based, significant stimulus in the near-term, including at the July Politburo meeting," analysts at Goldman Sachs said in a note. "Instead, we expect incremental, targeted easing to help stem the property downturn and mitigate labour market pressures in H2." China's new home prices declined at the fastest pace in eight months in June from the previous month, official data showed on Tuesday, underscoring the challenges policymakers face in reviving demand even after multiple rounds of support measures.
Reuters
2 days ago
- Business
- Reuters
China expected to keep lending rates steady, focus turns to Politburo meet
SHANGHAI, July 18 (Reuters) - China is widely expected to leave its benchmark lending rates unchanged at a monthly fixing on Monday, a Reuters survey showed, as signs of economic resilience reduced the urgency for further monetary easing. The loan prime rate (LPR), normally charged to banks' best clients, is calculated each month after 20 designated commercial banks submit proposed rates to the People's Bank of China (PBOC). In a Reuters survey of 20 market watchers conducted this week, all respondents expected both the one-year and five-year LPRs to remain steady. Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages. The consensus of no immediate monetary easing comes as data this week showed China's second-quarter gross domestic product (GDP) growth nudged slightly above market expectations, even though weak domestic demand and uncertainty around U.S. tariffs have raised economic risks. "Although continued downward price pressures and sluggish loan demand present a solid case for further easing, the PBOC may opt to hold off until a more opportune window," said Lynn Song, chief China economist for Greater China at ING. "We continue to expect one more 10-basis-point rate cut and 50-basis-point reserve requirement ratio (RRR) cut before year-end." For now, market attention would be squarely on the Politburo meeting later this month, which is likely to shape economic policy for the rest of the year, traders and analysts said. "With H1 real GDP growth still solid, we do not think policymakers see the immediate need to launch broad-based, significant stimulus in the near-term, including at the July Politburo meeting," analysts at Goldman Sachs said in a note. "Instead, we expect incremental, targeted easing to help stem the property downturn and mitigate labour market pressures in H2." China's new home prices declined at the fastest pace in eight months in June from the previous month, official data showed on Tuesday, underscoring the challenges policymakers face in reviving demand even after multiple rounds of support measures.
Al Etihad
3 days ago
- Business
- Al Etihad
ENEC, Framatome sign nuclear fuel supply agreement for Barakah Plant
17 July 2025 13:59 ABU DHABI (ALETIHAD)The Emirates Nuclear Energy Company (ENEC) and Framatome have signed a fuel supply agreement for the supply of nuclear fuel assemblies and engineering services for the Barakah Nuclear Energy Plant in the agreement is a key step in ENEC's long-term strategy to diversify its fuel supply chain, enhancing energy security by ensuring an uninterrupted supply of 24/7 carbon-free power from the Barakah Nuclear Energy Plant to businesses, industries and homes across the the agreement, Framatome will supply complete nuclear fuel assemblies for use at the Barakah Plant. Framatome brings decades of experience in nuclear fuel manufacturing and innovation, making it a strategic partner to further strengthen the resilience and flexibility of ENEC's fuel supply chain and ensure the plant's continued excellence in nuclear power Al Hammadi, Managing Director and CEO of ENEC, said, 'Our agreement with Framatome advances our strategy to strengthen the security and reliability of our nuclear fuel supply chain. Diversification is key to ensuring that we continue to deliver safe, clean, and reliable electricity—powering the sustainable growth of the UAE's economy.'Framatome's expertise and commitment to international standards add depth to our operations and reinforce Barakah as a global model for operational excellence in clean energy generation.'He affirmed their commitment to advancing Barakah's infrastructure and capabilities, continually striving for excellence in the nuclear power industry. ENEC continues to build on its existing operations through enhanced security, competitive costs, and innovative fuel solutions.'We are proud to provide our advanced fuel to ENEC, ensuring security of the supply and meeting the UAE's clean energy goals,' said Grégoire Ponchon, CEO at Framatome. 'The contract recognises our state-of-the-art technologies and the reliability of our workforce to provide exceptional services to our customers.'The fuel assemblies will be fabricated at Framatome's fabrication facility in the US, which is licenced by the US Nuclear Regulatory Commission, and has received the highest rating from the NRC under its Licensee Performance Review (LPR) for 18 consecutive has over 40 years of extensive experience fabricating fuel for Combustion Engineering design reactors like Barakah and has supplied more than 6,000 fuel assemblies of that remains the region's first multi-unit nuclear energy plant and a global benchmark for successful nuclear new-build programmes. ENEC has delivered the Barakah Plant—comprising four APR-1400 reactors, which are now the region's largest source of clean electricity—in just eight years. Today, ENEC continues to explore strategic opportunities that support the growth of the global civil nuclear sector, while ensuring the plant remains a cornerstone of the UAE's energy mix.
The Citizen
4 days ago
- The Citizen
LPR cameras lead to arrest of robbery suspects in Mondeor
LPR cameras lead to arrest of robbery suspects in Mondeor The Mondeor SAPS arrested criminals involved in a robbery on July 13. License plate reader (LPR) cameras provided crucial information about the vehicle used in the crime. According to reports, on July 14, Fox Security reaction units chased and stopped the vehicle, identifying and arresting the suspects, who are in custody at the Mondeor SAPS. 'Fox received valuable information from their LPR cameras, which allowed them to track the suspects and bring them to justice,' said Colonel Masondo of the provincial SAPS, speaking on behalf of the Mondeor SAPS. 'The team's swift response and co-ordination with the Fox reaction units resulted in an arrest, and we are committed to ensuring justice is served. The suspects will be charged after the investigation is concluded,' he continued. . At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
The Citizen
4 days ago
- The Citizen
CPS Security launches License Plate Recognition Camera in Southcrest to combat crime
CPS Security has launched a license plate recognition (LPR) camera in Southcrest to strengthen crime prevention and increase vehicle tracking capabilities across Alberton. The first LPR camera stands at a crucial point on Vootrekker Road, a route that enters the area from the Johannesburg CBD and which criminals often use. This initiative, fully funded by CPS Security, links directly with the SAPS and alerts response units in real-time. 'We have had house robberies in the Southcrest area and, through many years of experience, we noticed that criminals regularly use Voortrekker Road to enter and exit,' said Tyron van der Merwe of CPS Security. 'We've always wanted to put cameras here, and this is just the start.' How the system works The LPR cameras scan every vehicle entering or leaving Southcrest and compare its number plates to a national database that the SAPS uses. Vehicles flagged as involved in criminal activity trigger an instant alert to CPS tactical units. 'The alerts happen in milliseconds. Once a vehicle is detected, our tactical teams immediately respond and co-ordinate with law enforcement such as the SAPS, the EMPD and the JMPD,' explained van der Merwe. Each alert contains detailed case information, including crime type, case number, dates and the name of the investigating officer, allowing teams to act fast and legally during stop-and-searches. Constant monitoring and broader integration The LPR system is monitored 24 hours a day through two advanced control room platforms. CPS works with the Vumacam and Mavic surveillance networks, which support crime-fighting efforts across Gauteng. 'We use two control rooms and partner networks to ensure we never miss an alert. This gives us an edge in staying one step ahead of criminals.' CPS is part of the broader Vumacam project that operates in Glenvista, Mulbarton, Moffatview, Alberton, and Germiston. The Southcrest camera adds to this broader surveillance network. Protecting privacy and upholding the law CPS assured the public that the system complies with the Protection of Personal Information Act (Popia). All footage and vehicle data remain confidential and are shared only with vetted partners under strict non-disclosure agreements. 'We do not share footage with the public. The information is used strictly for crime combating and is handled within legal boundaries,' said van der Merwe. Positive community feedback Local safety organisations and residents have received the Southcrest camera installation well. Deidre de Carvalho, a representative of the Alberton CPF and community member, praised the move. 'What the CPS came up with is a brilliant idea. Now, when criminals enter Alberton, CPS and the police can be alert, which will reduce crime in the area,' she said. Expansion plans and community involvement Southcrest has one installed LPR camera, but CPS has identified other high-risk entry and exit points where they will place more cameras. The system is active in Brackendowns and Randhart, with similar installations in progress. CPS encourages residents and business owners to join the initiative and help sponsor camera poles in their areas. 'We are reaching out to business owners and residents to adopt poles or support installation costs. It is affordable and has been proven effective in multiple suburbs,' van der Merwe said. CPS also offers complete area surveys to identify security needs and determine the best placement for LPR technology. Mobile units and long-term vision Where permanent infrastructure is not yet available, CPS use a mobile LPR trailer to deploy to hotspots. This trailer has the same recognition technology and has aided many criminal apprehensions. 'Whether a fixed pole or mobile trailer, the results are consistent. These systems are one of the best tools we have in the fight against crime,' said van der Merwe. The long-term goal is to secure every major entry and exit point in Alberton, Johannesburg south and Germiston. 'We took the initiative upon ourselves to invest in this project because we care about the safety of our suburbs. This is only the beginning, and we will continue to innovate.' Support from law enforcement CPS Security appreciated the continued support of law enforcement partners, like the SAPS, the EMPD, the JMPD and Gauteng Traffic. 'They have stood by us when it mattered most. Their presence during stops and investigations ensures we follow the law and keep communities safe,' said Van der Merwe. Colonel Letloenyane, the station commander at the Alberton SAPS, also welcomed the initiative and applauded CPS Security's proactive steps. 'We appreciate all the efforts our stakeholders are putting into place to ensure Alberton is a safe place to live. It will come in handy because it is a known fact that most criminals use that route to come to Alberton and terrorise our community.' At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
