Aurelia Butler

(Reuters) -Storms producing tornadoes and heavy rains rolled through parts of the southern United States on Friday, killing at least nine people and leaving over 1 million customers without power, authorities said.The National Weather Service said the powerful storm had mostly left the South by late Friday and was moving to the Northeast, where it was forecast to cause heavy snow and sleet from southeastern Michigan east to New York state. Parts of central New York and southern New England may see over a foot (30 cm) of snow by Saturday afternoon.Kentucky Governor Andy Beshear said at least two tornadoes sparked by the storm system ripped through the western part of his state on Friday. The governor said on social media that at least three people were killed in the severe weather, though he did not provide any more details. A fourth person was killed by the storm Kentucky, a woman who died when a tree fell on the car she was in, the Fayette County coroner’s office said.Aside from the tornadoes, Beshear said thunderstorms in Kentucky were generating winds of 80 miles per hour (128.75 kph), which are “strong enough to blow tractor trailers off the road.”Alabama Governor Kay Ivey said on social media that three people were killed in the storm in her state, though she provided no details.In Arkansas, a man died when he was swept into a swollen river by flood waters after driving on a flooded street, according to the Scott County Sheriff’s Department.In Mississippi, Governor Tate Reeves said on social media on Friday that overnight storms producing high winds had resulted in one person’s death, though he gave no more details.More than 1.4 million homes and businesses were without power in states impacted by the storm, according to data from PowerOutage.us.Violent storms are frequent in the southern United States in winter months, as warm, moist air comes up from the Gulf of Mexico and collides with colder air moving down from the north, meteorologists say. More

This year also marks the start of China’s country’s 14th legislature, whose delegates serve five-year terms. When the full parliament is not in session, laws can be passed by the NPC Standing Committee.Following is a schedule in local time (eight hours ahead of GMT) for the session, which ends on March 13. Date Time Schedule Sunday, 9 a.m. First plenary meeting of the NPC (opening March 5 ceremony) (1) Hear the annual government work report by Premier Li Keqiang (2) Review the annual report by the National Economic and Reform Commission, and the draft plan for national economic and social development in 2023 (3) Review the annual budget report by the finance ministry on the execution of the central and local budgets for 2022 and on the draft central and local budgets for 2023 (4) Hear an explanation of the draft amendments to the Legislation Law by Wang Chen (13th NPC Standing Committee (NPCSC) Vice Chairman) (5) Vote on the draft decision on establishing special committees (6) Vote on the draft voting method for directors, vice directors and members of the special committees (7) Vote on the draft candidate lists of directors, vice directors and members of the Constitution and Law Committee (8) Vote on the draft candidate lists of directors, vice directors and members of the Economic Affairs Committee 3 p.m. NPC delegates deliberate on the government work report Monday, 9 a.m. Delegates deliberate the government work March 6 report in small groups 3 p.m. Delegates review in small groups the report on development plans and draft 2023 development plan, and the report on the budgets and the draft 2023 budgets Tuesday, 9 a.m. Delegates review the draft amendments to March 7 the Legislation Law in small groups 3 p.m. Second plenary meeting of NPC (1) Hear the NPCSC’s work report from Li Zhanshu (13th NPCSC Chairman) (2) Hear the Supreme People’s Court (SPC)’s work report from Zhou Qiang (SPC President) (3) Hear the Supreme People’s Procuratorate (SPP)’s work report from Zhang Jun (SPP Procurator-General) (4) Hear an explanation of the reorganisation plan of the State Council by Xiao Jie (State Councillor & Secretary-General of the State Council) Wednesday, 9 a.m. Delegates deliberate on the NPCSC’s work March 8 report in small groups 3 p.m. Delegates in small groups deliberate on a revisions to draft amendments to the Legislation Law, the State Council institutional reform plan, and draft measures on elections and appointments of the first plenary session of the 14th NPC, and recommend ballot officials Thursday, 9 a.m. Delegates deliberate on the SPC’s and March 9 SPP’s work reports in small groups 3 p.m. NPC delegates deliberate on the draft decision on the State Council institutional reform plan and conduct deliberations and consultations on candidates for China’s president, Central Military Commission (CMC) chairperson, 14th NPCSC chairperson, vice-chairpersons, and secretary-general, and China’s vice-president Friday, 9 a.m. Third plenary meeting of the NPC March 10 (1) Vote on the draft decision on the State Council institutional reform plan (2) Vote on the draft measures on elections and appointments of the first plenary session of the 14th NPC (3) Vote on a draft list of ballot officials (4) Elect China’s president (5) Elect the CMC chairperson (6) Elect the 14th NPCSC chairperson, vice-chairpersons, and secretary-general (7) Elect China’s vice-president 3 p.m. NPC delegates deliberate on nominees for the State Council premier, CMC vice-chairpersons and members, and conduct deliberations and consultations on candidates for the State Supervision Commission (SSC) chairperson, SPC president, SPP procurator-general, and rank-and-file NPCSC members Saturday, 9 a.m. Fourth plenary meeting of NPC March 11 (1) Appoint China’s premier (2) Appoint the CMC vice-chairpersons and members (3) Elect the SSC chairperson (4) Elect the SPC president (5) Elect the SPP procurator-general; (6) Elect rank-and-file NPCSC members 3 p.m. NPC delegates deliberate on nominees for State Council vice-premiers, state councillors, ministers, commission directors, governor of the People’s Bank of China (PBOC), auditor general, secretary-general of the State Council; and directors, deputy directors and members of NPC special committees including Ethnic Affairs Committee, Supervisory and Judicial Affairs Committee, Education, Science, Culture, and Public Health Committee, Foreign Affairs Committee, Overseas Chinese Affairs Committee, Environmental Protection and Resources Conservation Committee, Agriculture and Rural Affairs Committee, and Social Development Affairs Sunday, 9 a.m. Fifth plenary meeting of NPC March 12 (1) Appoint the State Council vice-premiers, state councillors, ministers, commission directors, PBOC governor, auditor general, and secretary-general of the State Council (2) Vote on draft lists of directors, deputy directors and members of NPC special committees including Ethnic Affairs Committee, Supervisory and Judicial Affairs Committee, Education, Science, Culture, and Public Health Committee, Foreign Affairs Committee, Overseas Chinese Affairs Committee, Environmental Protection and Resources Conservation Committee, Agriculture and Rural Affairs, and Social Development Affairs 3 p.m. Delegates deliberate in small groups on six draft resolutions on the government work report, annual development plans, annual budgets, the NPCSC’s work report, SPC’s work report, and SPP’s work report, respectively Monday, 9 a.m. Sixth plenary meeting of the NPC (closing March 13 ceremony) (1) Vote on the draft resolution on the government work report (2) Vote on the draft resolution on the draft amendment to the Legislation Law by the NPC (3) Vote on the draft resolution on the implementation of the 2022 plan and on the 2023 draft plan for national economic and social development (4) Vote on the draft resolution on the execution of the central and local budgets for 2022 and on the draft central and local budgets for 2023 (5) Vote on the draft resolution on the NPCSC’s work report (6) Vote on the draft resolution on the SPC’s work report (7) Vote on the draft resolution on the SPP’s work report (8) Speech by China’s president (9) Speech by the 14th NPCSC chairperson More

BEIJING (Reuters) -China set a modest target for economic growth this year of around 5% on Sunday as it kicked off the annual session of its National People’s Congress (NPC), which is poised to implement the biggest government shake-up in a decade.The economy gave one of its weakest performances in decades last year, when gross domestic product (GDP) grew by just 3%, squeezed by three years of COVID controls, a crisis in the vast property sector and a crackdown on private enterprise.In his work report, outgoing Premier Li Keqiang stressed the need for economic stability and expanding consumption, setting a goal to create around 12 million urban jobs this year, up from last year’s target of at least 11 million, and warned that risks remain in the real estate sector.Li set a budget deficit target at 3.0% of GDP, widening from a goal of around 2.8% last year.”Global inflation remains high, global economic and trade growth is losing steam, and external attempts to suppress and contain China are escalating,” Li said during his speech to open the parliament, which will run through March 13.”At home, the foundation for stable growth needs to be consolidated, insufficient demand remains a pronounced problem, and the expectations of private investors and businesses are unstable,” he said.This year’s growth target is at the low end of expectations, as policy sources had recently told Reuters a range as high as 6% could be set. It is also below last year’s target of around 5.5%. Alfredo Montufar-Helu, Beijing-based head of the China Center at the Conference Board, said setting a higher growth target would have required massive stimulus and “exacerbated the structural imbalances that China is trying to deal with to achieve its long-term development goals.”The lower target is more achievable, he said, and “recognises that the Chinese economy will be dealing with significant economic headwinds this year”. China’s state planner said it aims to increase the incomes of low earners and bring more people into the middle income group. The planner unveiled measures to spur consumption, but stopped short of direct spending, such as cash handouts.To bolster growth, the government plans to stick with its playbook of spending on infrastructure, increasing funding for big-ticket projects with 3.8 trillion yuan ($550 billion) in special local government bonds, up from last year’s 3.65 trillion yuan.The 67-year-old Li and a slate of more reform-oriented policy officials are set to retire during the congress, making way for loyalists to President Xi Jinping, who further tightened his grip on power when he secured a precedent-breaking third leadership term at October’s Communist Party Congress.During the NPC, former Shanghai party chief Li Qiang, 63, a longtime Xi ally, is expected to be confirmed as premier, tasked with reinvigorating the world’s second-largest economy.The rubber-stamp parliament will also discuss Xi’s plans for an “intensive” and “wide-ranging” reorganisation of state and Communist Party entities, state media reported on Tuesday, with analysts expecting a further deepening of Communist Party penetration of state bodies.MILITARY BUDGET RISELi said China’s armed forces should devote greater energy to training under combat conditions and boost combat preparedness, and the budget included a 7.2% increase in defence spending this year, a slightly bigger increase than last year’s budgeted 7.1% rise and again exceeding expected GDP growth.On Taiwan, Li struck a moderate tone, saying China should promote the peaceful development of cross-Strait relations and advance the process of China’s “peaceful reunification”, but also take resolute steps to oppose Taiwan independence.Beijing faces multiple challenges including increasingly fraught relations with the United States, which is trying to block its access to cutting edge technology, and a worsening demographic outlook, with plunging birth rates and a population drop last year for the first time since the famine year of 1961.China plans to lower the costs of childbirth, childcare and education and will actively respond to an ageing population and a decrease in fertility, the nation’s state planner said in a work report released on Sunday.The NPC opened on a smoggy day amid tight security in the Chinese capital, with 2,948 delegates gathered in the cavernous Great Hall of the People on the west side of Tiananmen Square.During the session, China’s legislature will vote on a plan to reform institutions under the State Council, or cabinet, and decide on a new cabinet line-up for the next five years, according to a meeting agenda.It is the first NPC meeting since China abruptly dropped its zero-COVID policy in December, following rare nationwide protests. Excluding the pandemic-shortened meetings of the previous three years, this year’s session will be the shortest in at least 40 years, according to NPC Observer, a blog.($1 = 6.9048 Chinese yuan renminbi) More

The ECB has already raised rates by 3 percentage points since July and essentially promised another half a percentage point increase on March 16 but investors have recently speculated on an even bigger move given poor inflation data.Lagarde said the flagged increase is now “very very likely” but she also warned that underlying inflation, which filters out volatile food and fuel prices, could stay uncomfortably high even as the overall inflation rate drops in the coming months.”In the short term, core inflation is going to be high,” Grupo Vocento quoted Lagarde as saying on Sunday. Several policymakers have warned recently that ECB rate hikes need to continue until core inflation turns around and starts falling towards the ECB’s 2% target. Underlying inflation rose to a record high 5.6% last month and some policymakers fear that the increase is now due to a surge in wages in the services sector, which makes price growth more durable and difficult to break. “We must continue to take whatever measures are necessary to bring inflation back to 2%. And we will do so,” Lagarde said.She added that the euro zone economy is holding up better than feared and output should accelerate from near stagnation in the closing quarter of 2022. More