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PRC surprises with early increase in bank reserve ratio

China yesterday raised the proportion of deposits that banks must hold in reserve in the clearest sign yet that it has started to tighten monetary policy with its economy roaring back to the brink of overheating.

The 0.5 percentage point increase in the reserve requirement ratio (RRR) will take effect on Monday and will apply to all banks apart from rural credit cooperatives, the People’s Bank of China said on its Web site.

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Smell of burning causes evacuation of Taipei MRT train

Around 250 passengers aboard a northbound train on Taipei’s Wenshan-Neihu MRT line were evacuated yesterday after staff at Nanjing East Road station detected a burning odor coming from cars.

The incident occurred at 8:29am when the train was at Nanjing East Road station.

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Newsflash

Kirti Monastery monk Lobsang Namgyal in an undated photo. He is the 100th known Tibetan to self-immolate under China's rule since 2009 demanding freedom and the return of the Dalai Lama.

DHARAMSHALA, February 13: In confirmed reports, a Tibetan monk set himself on fire on February 3 in the Ngaba region of eastern Tibet protesting China’s continued occupation of Tibet.

Lobsang Namgyal, 37, a monk of the Kirti Monastery has become the 100th known Tibetan to self-immolate under China’s rule since the wave began in 2009.

Following immense security clampdown in the region, the news of Lobsang Namgyal’s fiery protest reached exile on February 13, a day being observed by Tibetan exiles all over the world as the 100th year of His Holiness the 13th Dalai Lama’s Tibetan Proclamation of Independence.