Latest news with #Politburo
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Business Standard
a day ago
- Business
- Business Standard
China's central bank vows faster policy response to economic conditions
China's central bank said on Friday that it would adjust the pace and intensity of policy implementation in response to domestic and global economic and financial conditions. The world's No.2 economy has faced pressure this year due to U.S. President Donald Trump's imposition of tariffs on Chinese products and persistent deflationary pressure at home. "The external environment has grown increasingly complex and challenging, with weakening momentum in global economic growth, rising trade barriers, and diverging economic performance among major economies," the People's Bank of China (PBOC) said in a summary of its quarterly monetary policy committee meeting. The economy "still faces difficulties and challenges such as insufficient domestic demand, persistently low price levels, and multiple hidden risks," the bank said. "It is suggested that the intensity of monetary policy adjustments be increased, and the forward-looking, targeted and effective nature of monetary policy adjustments be enhanced," it added. In May, the PBOC unveiled a raft of easing steps, including interest rate cuts and a major liquidity injection, as Beijing stepped up efforts to soften the economic damage caused by the trade war with the United States. Investors are watching for signs of fresh stimulus from an expected Politburo meeting in July as well as clues from an anticipated plenum later this year, where top party leaders are likely to discuss the country’s 2026â€'2030 five-year plan. "On the monetary policy front, we do not expect an aggressive move unless there is a wholesale change in the leadership's economic belief," analysts at ANZ said in a note. ANZ expects the central bank to cut its key interest rate by 10 basis points ahead of the expected Politburo meeting, followed by a further 30-basis-point reduction after the party plenum, likely in August, the analysts said. The PBOC said it would guide financial institutions to step up credit supply, and push for the lowering of overall social financing costs. It also pledged to enhance the resilience of the foreign exchange market, to guard against the risk of exchange rate overshooting, and to keep the yuan exchange rate "basically stable at a reasonable and balanced level". On the beleaguered property market, the bank said it would increase efforts to revitalise existing commercial housing and land inventory, and continue to consolidate the "stable momentum" in the sector.
Otago Daily Times
a day ago
- Business
- Otago Daily Times
‘Kremlin' councils need to go: Jones
Resource Minister Shane Jones has called the Otago Regional Council "the Kremlin of the South Island" after an application to expand the Macraes gold mine ran into trouble. Mr Jones, who is also the regional development minister, said the council was full of "KGB green zealots" and the episode showed why regional councils needed to be scrapped. The Otago council's assessment of environmental effects — which recommended Oceana-Gold's application to expand its mine be declined in full — was "ideological scribbling". Any other investor or miner in New Zealand would now quickly conclude they had to join the fast-track application process, "which will enable these economic saboteurs to be marginalised", he said. Council chairwoman Cr Gretchen Robertson said "name-calling" was unhelpful and the council's views were evidence-based, not ideological. OceanaGold has been granted more time to prepare for a hearing for its proposed expansion at Macraes after the regional council said its application should be declined and the Waitaki district and Dunedin city councils also raised concerns. The regional council's view of the company's Macraes Phase 4 (MP4) Project was troubling, Mr Jones said. "It confirms the worst of my prejudices, that the regional council in the South Island, that the Otago Regional Council is the Kremlin of the South Island," he said. "These are the reasons why people should be backing me to disestablish regional councils in New Zealand. "Their role is as catchment boards and looking at the discharge and the allocation of water, water take. "I am astounded at a time where the economy is still recovering from the Covid experience, a record number of New Zealanders are moving to Australia, and we have these Politburo apparatchiks destroying hundreds of jobs, undermining scores of millions of dollars in the local economy. The ''nationally vulnerable'' moth Orocrambus sophistes, which lives in short tussock grasslands, was found at Golden Bar, one of three open pits about 55km north of Dunedin that OceanaGold has applied to expand. The regional council's recommending report highlighted the moth alongside the proposed expansion's actual and potential effects on surface water quality, aquatic ecology, natural inland and ephemeral wetlands, and lizard habitat. The effects would be ''significantly adverse'' and could not be avoided, minimised, remedied, offset or compensated for. It would also have significant adverse cumulative effects on cultural values, ''and it is not yet known if these can be managed by conditions'', the report said. Cr Robertson said the report was prepared by qualified professionals under the Resource Management Act. ''It is a technical, evidence-based assessment — not a political statement. ''Our staff are simply doing their jobs within the only under-and we have these Politburo apparatchiks destroying hundreds of jobs, undermining scores of millions of dollars in the local economy. ''For a dead moth. It's an ideological attempt to defeat mining. It truly is unbelievable. This is a part of New Zealand where no-one goes." ''There are some easy mitigative steps that can be taken, but the Kremlin and its KGB green zealots completely and utterly show me why regional councils need to be disestablished.'' law as it stands. ''Name-calling mines confidence in both central and local government.'' Regional councils across New Zealand welcomed ''meaningful dialogue'' on how to best deliver the services they were intended to — flood protection, biosecurity, civil defence, environmental management and public transport, she said. ''Here in Otago, we remain focused on our responsibility to protect the environment while supporting sustainable economic development. ''That balance is not ideological — it reflects the law, and we believe it reflects the values of our region: caring for both our environment and our livelihoods.'' A minute issued by independent commissioner Rob van Voorthuysen this week said the hearing for OceanaGold's proposed expansion had been postponed from next month to December at the mining company's request. The company's lawyers advised more time was required to consider the recommendations from the councils, he said. OceanaGold senior vice-president Alison Paul said adjourning the MP4 hearing, originally scheduled for next month, would give the company more time to prepare its evidence, including addressing all three councils' reports and recommendations.
Indian Express
6 days ago
- Politics
- Indian Express
Suspecting them of being police informers, Maoists murder 2 in Chhattisgarh village
Two residents of Chhattisgarh's Bijapur district were murdered on Saturday night by Maoists who suspected them of being police informers, officials said. Bijapur is the Chhattisgarh district worst affected by Maoist violence. The state has reported 22 civilians killed by Maoists this year and 71 last year. Saturday night's incident took place in Sendrobor and Yampur villages in the jurisdiction of Pamed police station. The area is in the southernmost area of Bijapur, towards the Telangana border, near the area where the Maoists' most dangerous battalion — Battalion 1 of the People's Liberation Guerrilla Army (PLGA) — is believed to be located. A security camp, Dharmavaram, is located seven kilometres from the villages, and the police station is around 10 km away. Last year, the Dharmavaram camp was attacked by the Battalion 1 with heavy gunfire and rocket launchers, injuring 12 jawans. The NIA recently filed a chargesheet in the case. An official said a group of Maoists came to the villages late at night in Saturday and murdered the two civilians, 'suspecting them to be police informers.' This comes just a few days after the insurgents killed three other civilians in Bijapur. The killings come amid an intensified push by security personnel against the Maoists, leaving the group at their weakest ever condition. Several Maoists, including top leaders, have been killed in recent years. The group's Politburo, its highest decision-making body, has shrunk to just three members: Mallojula Venugopal Rao alias Sonu, Thippiri Thirupathi alias Devuji, and Misir Besra alias Sagar. At the height of the insurgency, the Politburo had at least 11-12 members. The Central Committee members have also whittled down to 17 from 42 in 2007-08. Union Home Minister Amit Shah is scheduled to visit Chhattisgarh for a two-day trip starting Sunday. He is set to visit a security camp and chair a meeting to review ongoing anti-Maoist operations in the state, said Deputy Chief Minister Vijay Sharma.
The Star
19-06-2025
- Politics
- The Star
National Press Festival celebrates 100 years of Vietnamese Revolutionary Press
HANOI: The 2025 National Press Festival officially opened on Thursday (June 19) at the National Convention Centre in Hanoi under the theme 'Vietnamese Press – Loyalty, Creativity, Bravery, Innovation for National Construction and Defence'. The event marks a major political and cultural milestone as the country celebrates 100 years of revolutionary journalism (June 21, 1925–2025). Speaking at the opening ceremony, Nguyen Trong Nghia, Politburo member and Head of the Party Central Committee's Commission for Information, Education and Mass Mobilisation, said that the Vietnamese revolutionary press had always fulfilled its sacred mission – to accompany the nation, serve the Fatherland, and speak for the people. Journalism, he said, had long been a trusted voice of the Party and State, a vital bridge between Party ideology and public sentiment, and a mirror reflecting the aspirations of society. "It is a key platform for spreading humanistic values, promoting what is good and just, and firmly defending the Party's ideological foundation against distorted and hostile views." Nghia praised this year's festival as a vivid symbol of continuity and progress, from traditional print to digital, from pen and paper to artificial intelligence and big data. The exhibits and technology applications demonstrate how the press has evolved across formats: print, radio, television, online, and multi-platform journalism. As Vietnam embraces rapid technological change and administrative reform, journalism must also adapt. Nghia urged journalists and news agencies to foster professional growth, strengthen political integrity, and embrace digital transformation to innovate content creation and distribution. 'Innovation must be the engine, technology the tool to elevate Vietnamese journalism,' he said. 'We must boldly rethink leadership models, editorial processes, and public engagement strategies.' Organised by the Vietnam Journalists Association in coordination with the Ministry of Culture, Sports and Tourism and other central and local agencies, the 2025 festival is a special event commemorating the centennial of Vietnamese revolutionary journalism. This year's edition features over 130 display booths from more than 124 media outlets nationwide. A major highlight is a dedicated centrepiece exhibition titled '100 Years of Revolutionary Journalism in Vietnam: Achievements and Development Trends in the New Era'. More than 500 digitised artefacts, photographs and historical documents have been curated to trace the profession's century-long journey. Professional forums are a key part of the programme, notably the second National Press Forum, which includes ten in-depth panel discussions on pressing topics such as journalism's role in the digital age, artificial intelligence in editorial strategy, data journalism, broadcasting and radio innovation, Gen Z engagement, revenue models, and newsroom leadership. Distinguished Vietnamese and international journalists and media experts are taking part. Alongside professional exchange, the festival offers vibrant side events, including the fourth 'Journalists & Public Opinion Cup' football tournament and interactive exhibitions with entertainment and cultural performances. Outstanding booths, activities, and journalistic products across all formats will be honoured through official awards. Le Quoc Minh, Member of the Party Central Committee, Deputy Head of the Commission for Information, Education and Mass Mobilisation, Editor-in-Chief of Nhan Dan newspaper, and Chairman of the Vietnam Journalists Association, said "the guiding theme – loyalty, creativity, bravery, innovation – is the compass for the press as the country steps into a new era". 'Journalism must be at the forefront of spreading positive values, encouraging patriotism and national solidarity, and strengthening collective resolve toward a strong, prosperous and sovereign Vietnam,' Minh said. During the opening, Nguyen Trong Nghia and other leaders jointly launched a special commemorative stamp set marking the 100th anniversary of Vietnamese Revolutionary Journalism and signed a collective commemorative stamp artwork dedicated to the occasion. - Vietnam News/ANN
RTHK
18-06-2025
- Business
- RTHK
HK stocks slide as US tech retreat spreads
HK stocks slide as US tech retreat spreads The Hang Seng Index ended down 269.61 points, or 1.12 percent, at 23,710.69. File photo: RTHK China stocks ended slightly higher on Wednesday as top financial regulators at the annual Lujiazui Forum delivered few fresh policy signals while Hong Kong shares fell as geopolitical tensions heightened. The benchmark Hang Seng Index ended down 269.61 points, or 1.12 percent, to close at 23,710.69. The Hang Seng China Enterprises Index slid 100.48 points, or 1.16 percent, to end at 8,594.19 while the Hang Seng Tech Index slumped 77.44 points, or 1.46 percent, to 5,214.41. Hong Kong shares of Chinese electric vehicle maker Li Auto fell nearly 5 percent to their lowest since May 9. Tech majors listed in Hong Kong dropped 1.5 percent, tracking overnight losses in their US-listed counterparts during the New York session. Mainland Chinese stocks closed higher, with the benchmark Shanghai Composite Index up 0.04 percent at 3,388.81 and the Shenzhen Component Index 0.24 percent higher at 10,175.59. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 0.23 percent to close at 2,054.73. China's securities regulator announced plans on Wednesday to establish a new segment on Shanghai's tech-heavy STAR market to host pre-profit growth companies and support innovation. The watchdog also said it would support listing of companies with frontier technologies, in sectors such as artificial intelligence and aerospace. With few policy surprises from the forum, investors turned their focus to the upcoming July Politburo meeting for clearer signals on economic support. Tech shares rose as investors drew inspiration from regulators' support toward the sector. Electronics, communications and AI shares led market gains. Liquor shares rebounded for the third straight session, after tumbling to their lowest level since September 2024, hit by news that some of China's civil servants were banned from dining out in groups of more than three. Risk sentiment remained fragile on Wednesday as Iran and Israel launched fresh missile strikes at each other, extending their air war into a sixth day. (Reuters/Xinhua)
