• Reuters

    Hong Kong central bank keeps key rate unchanged, tracks Fed move

    The Hong Kong Monetary Authority (HKMA) kept its base rate charged through the overnight discount window unchanged at 5.75% on Thursday, tracking a move by the U.S. Federal Reserve to keep rates steady. The U.S. Federal Reserve held interest rates steady on Wednesday and signalled it is still leaning towards eventual reductions in borrowing costs, but put a red flag on recent disappointing inflation readings that could delay the rate cuts. "The high interest rate environment may last for some time," HKMA said in a statement, adding the Fed has not yet gained enough confidence about the U.S. inflation trajectory to start cutting interest rates.

  • Reuters

    Road collapse in southern China kills 36, reports state media

    The collapse, triggered by heavy rain, occurred at around 2:10 a.m. on Wednesday on the Meizhou-Dabu Expressway, Xinhua news agency reported, adding that the collapsed section was 17.9 meters in length and caused 23 vehicles to plunge. Meizhou is one of the areas in southern China's Guangdong that has been badly hit by heavy rain and hail since late April which set off dangerous mudslides, inundated homes and destroyed bridges.

  • Local Journalism Initiative

    Tim Hortons brings back Smile Cookie campaign committing $500K sweet donation to Markham Stouffville Hospital

    Tim Hortons' annual Smile Cookie campaign is back, running from April 29 to May 5, with the restaurant owners from Markham and Stouffville announcing a $500,000 donation to Oak Valley Health's Markham Stouffville Hospital (MSH). This generous commitment will be recognized with a pediatric surgical waiting room named in Tim Hortons' honour. Customers can support the MSH Foundation by purchasing Smile Cookies or other Smile Cookie products. Every dollar from the sales in the local community goes d