Canada's wildfires could continue into fall, says government
Canada is facing its second-worst wildfire season on record, with 7.8 million hectares already burned, and the fires could persist for weeks, accordin...
China’s resale home prices fell at an accelerated pace in June, deepening concerns about the country’s ailing property market and underscoring the limited impact of recent government support measures, a private survey showed on Tuesday.
According to the China Index Academy, one of the country’s top real estate research firms, resale home prices declined by 0.75% in June, compared to a 0.71% drop in May. On a year-on-year basis, prices fell 7.26%, marking a slight deepening of the 7.24% annual decline recorded in the previous month.
The data reflects persistent structural weaknesses in the sector, which has remained under pressure since 2021 when regulators moved to curb excessive borrowing by property developers. The resulting liquidity crisis among major firms led to a wave of unfinished housing projects, sharp declines in sales, and a rise in defaults.
New home prices, meanwhile, increased at a slower rate in June, rising by just 0.19% after a 0.30% gain in May, the survey showed.
“The real estate market is still in the process of adjustment... a market stabilisation and recovery still require further policy efforts,” the China Index Academy said in its report.
Despite interest rate cuts and incentives for homebuyers, confidence remains weak among consumers wary of incomplete projects and volatile pricing. In addition, an oversupply of housing in certain cities has further diluted the impact of stimulus efforts.
A recent report from Goldman Sachs projected that new home demand in China may drop to fewer than 5 million units annually—down significantly from the peak of 20 million units in 2017.
In response, Chinese officials have pledged further action. At a cabinet meeting last month, senior leaders committed to optimizing policies to boost housing demand, improve supply mechanisms, and stabilize the broader real estate market.
Still, the latest figures suggest that more aggressive and targeted measures may be needed to reverse the downturn in a sector long considered a pillar of China’s economy.
A powerful eruption at Japan’s Shinmoedake volcano sent an ash plume more than 3,000 metres high on Sunday morning, prompting safety warnings from authorities.
According to the German Research Centre for Geosciences (GFZ), a magnitude 5.7 earthquake struck the Oaxaca region of Mexico on Saturday.
A magnitude 5.2 earthquake struck 56 kilometres east of Gorgan in northern Iran early Sunday morning, according to preliminary seismic data.
'Superman' continued to dominate the summer box office, pulling in another $57.25 million in its second weekend, as theatres welcome a wave of blockbuster competition following a challenging few years for the film industry.
Honduras has brought back mask mandates as COVID-19 cases and a new variant surge nationwide.
Hamas has agreed to a 60-day ceasefire proposal with Israel that would see half of the hostages in Gaza freed in exchange for the release of Palestinian prisoners, an Egyptian official said on Monday.
On Monday, Russian drones deliberately struck a SOCAR oil depot in Ukraine's southern Odesa region for the second time in two weeks, according to Ukrainian officials.
Afghanistan's growing flour industry now supplies more than half the country's annual demand, with domestic mills producing 3.5 million tons out of the 6 million-ton national requirement.
U.S. envoy Tom Barrack has arrived in Beirut for his fourth visit since June, seeking to reinforce a fragile ceasefire between Israel and Lebanon, days after the Cabinet backed a plan to disarm Hezbollah and other non-state groups.
Since January, more than 1.7 million Afghan citizens have returned from Iran and Pakistan, the United Nations said on Friday, warning of mounting humanitarian pressures.
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