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July, 24, 2016

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China
Flash floods kill at least 154 across mainland China, leave scores missing
Torrential rains that have swept through China have killed at least 154 people and left 124 missing, officials said Saturday, with most of the casualties reported from a northern province where villagers complained about lack of warning before a deadly flash flood.
 
The world's leading economies must do more to boost slowing global growth, the International Monetary Fund and Washington urged as G-20 finance ministers gathered Saturday, with the U.K.'s vote to leave the European Union threatening more disruption.
 
A Hong Kong student protester pleaded not guilty Friday to multiple criminal charges over a demonstration against a pro-Beijing figure, a day after the conviction of an "Umbrella Revolution" leader was blasted by rights activists.
 
The world cannot depend on China alone to save it from a Brexit-induced downturn, the country's premier said Friday, ahead of hosting a meeting of G-20 finance ministers.
 
KFC, Apple in China hit by South China Sea spat
To the challenges facing KFC and Apple in China, add a surprise backlash from Beijing's spat with the Philippines over the South China Sea.
 
Smartphones hang up on double-digit sales growth globally
For the first time ever, annual growth in smartphone sales is estimated to be in a single digit-7 percent on 1.5 billion units this year-down more than half from 14.4 percent last year. In 2010, the sales growth rate was a whopping 73 percent.
 
A business cooperation deal struck between France's biggest vacation real estate company, Pierre & Vacances-Center Parcs Group and Hainan Airlines Co Ltd parent HNA Tourism Group, will lead to the construction of three major new holiday parks in China.
 
A key figure in Hong Kong's "Umbrella Revolution" was convicted Thursday of participating in a protest that sparked mass pro-democracy rallies, in a prosecution blasted as a "chilling warning" by rights campaigners.
 
Opening to benefit supply side reform
China's latest easing of its rules for foreign investment, a move toward a more open market policy, will bring in heated competition, but will not put too much pressure on local manufacturers, industry insiders said.
 
Travelers tighten purse strings
Chinese outbound travelers tightened their purse strings last year as their spending on travel dropped by 17 percent amid a slowing economy and is expected to pick up next year with one-third planning to spend more, according to a survey.
 
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