A 6.9-magnitude earthquake struck off the coast of Vanuatu, the United States Geological Service reported. Prelim M6.9 earthquake Vanuatu Apr-7 03:32 UTC, updates https://t.co/96CmgSK7u9, 0 #quake tweets/min — USGSted (@USGSted) April 7, 2016 According to USGS, the earthquake occurred 109 kilometers (67 miles) west of the Sola village, the capital of Torba Province in Vanuatu. There were no immediate reports of casualties. The Vanuatu islands are part of the so-called Ring of Fire — a horseshoe-shaped region in the Pacific Ocean formed by volcanoes and tectonic faults. Ninety percent of all earthquakes occur in the Ring. No tsunami warning has been reported. … [Read more...] about 6.9 Magnitude Earthquake Shakes South Pacific Archipelago of Vanuatu
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Russia, China Quite Capable of Countering US Missile System in Asia
The United States, South Korea, and Japan will hold a joint exercise in Hawaii in June 2016, on the sidelines of the biennial Rim of the Pacific (RIMPAC) naval exercise. The trilateral US-South Korea-Japan exercise will focus on anti-missile operations and will include guided-missile destroyers from the three navies featuring the integrated Aegis Combat System. © Flickr / U.S. Pacific FleetRim of the Pacific (RIMPAC) (File) All three navies operate Aegis-equipped vessels, which specialize in ballistic missile defense against short- and intermediate-range missiles, able to track and destroy enemy targets. The drill will reportedly simulate detecting and intercepting ballistic missiles. Besides, according to the South Korean daily The Hankyoreh, “the exercises also appear to be a preparatory step for linking of the three sides’ missile defense networks.” “South Korea and the US have … [Read more...] about Russia, China Quite Capable of Countering US Missile System in Asia
SonKim Land wins again at International Property Awards
The Galleria Residence developed by SonKim Land wins the ‘Apartment/ Condominium Asia Pacific’ and ‘Best International Apartment/ Condominium’ awards at the 2019 International Property Awards in the UK. — Photo courtesy of the company The Galleria Residence developed by SonKim Land has won the ‘Apartment/ Condominium Asia Pacific’ and ‘Best International Apartment/ Condominium’ awards at the 2019 International Property Awards in the UK. It is for the second year in a row that SonKim Land has won this prestigious award. Following its great success at Asia Pacific Property Award in May, the company represented Viet Nam and the Asia Pacific at the award and gala dinner in London on December 2. Situated in the heart of the Thu Thiem New Urban Area, The Galleria Residence (the first phase of The Metropole Thu Thiem) has three 12-storey towers with 456 residential units and 30 commercial units. Its facilities include a sculpture garden, … [Read more...] about SonKim Land wins again at International Property Awards
Chinese economic growth slows to 6.9% in third quarter despite stimulus
China’s economic growth slowed in the latest quarter to a six-year low of 6.9%, despite repeated interest rate cuts and other stimulus measures. The figure released on Monday compared with a year-on-year expansion of 7% in the previous quarter. Although it was slightly better than economists expected, the rate was the slowest since the 6.2% recorded in the first quarter of 2009 during the global recession. The GDP figures were part of a swath of data released on Monday giving another snapshot of the world’s second biggest economy, which has seen stuttering growth in recent months after years of rapid expansion. It was also the first official confirmation of investors’ fears about economic growth since a Chinese stock market slump coupled with a surprise currency devaluation in July and August. The output of China’s huge manufacturing sector cooled more than expected to 5.7% in September, disappointing analysts who expected it to rise 6% on an annual basis after … [Read more...] about Chinese economic growth slows to 6.9% in third quarter despite stimulus
RCEP explainer: World’s biggest trade pact shapes up without India
Although India pulled out at the last minute, China and 14 other countries agreed in Bangkok this week on plans for what could become the world’s biggest trade agreement—the Regional Comprehensive Economic Partnership (RCEP).They aim to sign it next year to start freeing up trade between members that include the 10-member Association of Southeast Asian Nations (ASEAN), Japan, South Korea, Australia and New Zealand.What will RCEP do?Exact details have yet to be released, but it will progressively lower tariffs across many areas.Its backers say that just as importantly it will let companies export the same product anywhere within the bloc without having to meet separate requirements and fill out separate paperwork for each country.“For a goods producer it’s huge,” said Deborah Elms of the Asian Trade Centre. “What we don’t have now is a lot of Asian trade for final markets in Asia. This sets that up.”It … [Read more...] about RCEP explainer: World’s biggest trade pact shapes up without India