New Delhi, Jan 23 (IANS) China’s rural banks are stuck with hundreds of foreclosed homes that couldn’t get auctioned even at steep discounts, signalling deep stress in the property sector and financial system, a report has said.The report in Modern Diplomacy said that the stress in the property sector spilled into local bank balance sheets and could widen into a major non‑performing‑asset disposal cycle.It cited UBS estimates, which showed “the volume of foreclosed properties nationwide co…
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Tokyo, Jan 14 (IANS) Blizzards, strong winds and extreme cold disrupted rail services across northern Japan on Wednesday, as rough winter weather intensified around Hokkaido and areas along the Sea of Japan coast. JR Hokkaido said 50 train services have been suspended since Tuesday due to strong winds, blowing snow and low temperatures. At New Chitose Airport, 82 departing and arriving flights have been cancelled, while numerous others have experienced delays since Tuesday.Authorities warned tha…