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China’s Sichuan Flood Warning Next to Record Drought;

A record drought in China’s Sichuan province caused massive power shortages, but now it’s flooding. People’s Daily, published on the provincial government websitearticleMore than 119,000 people were evacuated due to heavy rains. Authorities issued heavy rain warnings for some cities and announced flood control measures. Additional emergency relief units were dispatched. Heavy rains have created … Read more

Tech Stocks Hit Again With Rising Interest Rates, Fed Chairman Says Commitment – Bloomberg

A hawkish message from Federal Reserve Chairman Jerome Powell could bring a new dimension to the battle between tech stocks and Treasury yields. Asset managers who once again flocked to U.S. mega-cap stocks could take a hit. Chairman Powell speaks at the Kansas City Federal Reserve Bank’s annual symposium in Jackson Hole, Wyoming, on Wednesday.Lectureand … Read more

Holzmann to Discuss 75 Basis Rate Hike at Next ECB Meeting – Bloomberg

Austrian central bank governor Holzmann, a member of the European Central Bank (ECB) policy committee, said a 0.75 percentage point hike should be discussed at the next policy meeting. Known as the most hawkish of the Policy Board members, he hasoutstanding interest rate hikeI have argued that He worries that price pressures are taking hold, … Read more

Some ECB policymakers hope to discuss 75 basis points rate hike next month – Bloomberg

Some European Central Bank (ECB) policymakers want to discuss a 0.75 percentage point rate hike at their September meeting, Archyde.com reported, citing people familiar with the matter. The identities of those involved have not been disclosed. An ECB spokesman declined to comment to Archyde.com. A decision of 0.75 percentage points would be the ECB’s largest … Read more

India to Limit Some Rice Exports, Tight Domestic Supply Risks to Global Markets – Bloomberg

India, the world’s largest rice exporter, may restrict some exports due to tight domestic supplies. A person familiar with the matter said. Global food markets could be further disrupted. The Indian government is discussing export restrictions on broken rice, said the person, who asked not to be identified because the information is private. A decision … Read more

U.S., China Sign Provisional Agreement to Allow U.S. Audits of Chinese Companies – Bloomberg

The United States and China reached a tentative agreement to allow U.S. authorities to review audits of Chinese companies. It would be the first step toward avoiding the U.S. delisting of about 200 Chinese companies. As part of the deal, China will grant the Public Company Accounting Oversight Board (PCAOB) access to audit documents and … Read more

China Meteorological Administration Targets Rainfall with Large Drones in Drought Sichuan Province – Bloomberg

The China Meteorological Administration has launched an artificial rain initiative in Sichuan province, which has been hit by a record drought. National Central Television (ＣＣＴＶ) reported that large-scaledroneTwo aircraft started flying. The two aircraft will continue to artificially increase rainfall by spraying silver iodide and other chemicals on rain clouds over an area of ​​6,000 … Read more