Typhoon Bebinca lands in east China, triggering emergency measures

China

Typhoon Bebinca lands in east China, triggering emergency measures

2024-09-16 08:53 Last Updated At：17:37

Typhoon Bebinca made landfall in Shanghai and Zhejiang Province on Monday morning, prompting highway closures, bus suspensions, ship evacuations, and extensive emergency measures across the region.

According to the municipal meteorological authorities, Typhoon Bebinca is the most powerful typhoon to hit Shanghai in decades.

On Sunday night, four district-level meteorological observatories in Shanghai elevated the orange alert to a red alert for Typhoon Bebinca, the 13th this year, as its intensity was estimated to be a strong typhoon.

In response, local authorities closed all highways across the city, reduced speed limits on urban expressways and overpasses to 40 km per hour, and suspended operations of ferris wheels at coastal resorts and bus operations in some areas.

More than 414,000 residents have been evacuated to safety and 810-plus ships have returned to ports.

Furthermore, the city's two airports, Shanghai Pudong International Airport and Hongqiao Airport, have canceled all flights after 20:00 on Sunday.

Over 2,500 rescue teams, comprising 56,000-strong troubleshooters, are on standby for emergency response.

In neighboring Zhejiang Province, the typhoon has unleashed high gales and rainstorms along the coastline.

In the city of Zhoushan, the maritime affairs department has installed warning signs to advise all tourists and residents to stay clear of the coast areas. In addition, public security personnel were required to conduct round-the-clock patrols until the typhoon's intensity subsides.

U.S. Fed slashes rates by 50 basis points, first rate cut in four years

2024-09-19 02:22 Last Updated At：03:17

The U.S. Federal Reserve on Wednesday slashed interest rates by 50 basis points amid cooling inflation and a weakening labor market, marking the first rate cut in over four years.

"The Committee has gained greater confidence that inflation is moving sustainably toward 2 percent, and judges that the risks to achieving its employment and inflation goals are roughly in balance," the Federal Open Market Committee (FOMC), the central bank's policy-setting body, said in a statement.

"In light of the progress on inflation and the balance of risks, the Committee decided to lower the target range for the federal funds rate by 1/2 percentage point to 4-3/4 to 5 percent," the FOMC said.

This signals the start of an easing cycle. Starting from March 2022, the Fed had raised rates consecutively for 11 times to combat inflation not seen in forty years, pushing the target range for the federal funds rate up to between 5.25 percent and 5.5 percent, the highest level in over two decades.

After maintaining rates at the high level for over a year, the Fed's tight monetary policy faced pressure to pivot due to the easing of inflationary pressures, signs of weakening in the job market, and slowing economic growth.