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Activity in China's factory sector expanded at its fastest pace in 18 months in July, a preliminary HSBC survey showed on Thursday, as a raft of government stimulus measures kicked in. China's economy grew slightly faster than expected in the second quarter as a burst of government stimulus paid dividends, but analysts said Beijing will likely need to offer further support to meet its growth target of around 7.5 percent for 2014.
South Korea unveiled a $40 billion stimulus package Thursday as the finance minister warned of a risk of recession after the economy grew at its slowest rate for more than a year in the second quarter. Citing sluggish domestic demand in the wake of a devastating ferry disaster in April, the finance ministry cut its forecast for economic expansion in 2014 to 3.7 from 4.1 percent. "Our economy now stands at a critical crossroads between making a leap forward and falling into a recession," Finance Minister Choi Kyung-Hwan was quoted as saying by the Yonhap news agency. "A slump in domestic demand is deepening, and the economy is losing its momentum," Choi said.
US authorities can place Americans and foreigners on a terrorist watch list indefinitely on the basis of vague rules without concrete evidence, according to a leaked government document. Once blacklisted, individuals have no way of finding out why they are deemed suspicious and even dead people's names remain on the list, under secret guidelines set out last year by the National Counter-Terrorism Center (NCTC), which were published for the first time by The Intercept news website. The new rules introduced by President Barack Obama's administration represent an expansion of the US government's power when it comes to designating suspected terrorists, laying out broad criteria for adding names to the blacklists, The Intercept reported. Individuals added to the watch lists can be banned from flying -- under the "no-fly" list -- or subjected to additional searches and security screening at airports and border crossings.