US House passes amendment to exempt India under CAATSA over Russia’s S-400 missile deal

"In a major shot in the arm of India over its purchase of Russia’s S-400 missile system, the US
House of Committee has passed a legislative amendment through voice vote that exempts New Delhi from the punitive CAATSA sanctions.

The CAATSA was introduced in 2017 to punish those countries with sanctions who engage in transactions with the Russian defence and intelligence sectors." WION

A new dominant omicron strain in the U.S. is driving up cases — and reinfections

"The BA.5 variant is now the most dominant strain of COVID-19 in the country, according to the Centers for Disease Control and Prevention. And while it's hard to get an exact count — given how many people are taking rapid tests at home — there are indications that both reinfections and hospitalizations are increasing. Dr. Bob Wachter, the chair of the Department of Medicine at the University of California, San Francisco, says BA.5 is highly transmissible and manages to at least partially sidestep some of the immunity people may have from prior infections and vaccinations." NPR

 

Russian forces destroy platoon of US M777 howitzers in Ukraine operation

"A battery of multiple launch rocket systems near Slavyansk and a platoon of multiple rocket
launchers in the area of Nikolayevka in the Donetsk People’s Republic were also destroyed in counter-battery fire." Tass

Germany Plans ‘Warm Up Spaces’ in Response to Gas Shortages

"Cities across Germany are planning to use sports arenas and exhibition halls as ‘warm up
spaces’ this winter to help freezing citizens who are unable to afford skyrocketing energy costs.

Bild newspaper reveals how the the nation’s Cities and Municipalities Association has urged local authorities to set aside public spaces to help vulnerable citizens in the colder months." SummitNews

"The Damage Could Be Huge": Chinese Banks Tumble, Swept Up In Mortgage Nonpayment Scandal As Borrowers Revolt

"Shares of China’s banks extended their slide to a two-year low amid fears widespread

mortgage non-payments would spark contagion within the banking sector even after the local banking and insurance regulator said it will maintain continuity and stability of financing policies for the real estate sector.

China Central Television said on its WeChat page that the regulator will guide financial institutions to participate in risk disposals based on market conditions, after researcher China Real Estate Information Corp. reported that home buyers had stopped mortgage payments on at least 100 projects in more than 50 cities as of Wednesday, spurring concerns that the quality of home loans is in rapid decline and could culminate in a 2007-like credit/housing bubble blow up.

The boycotts raise the risk of mortgage defaults, a new set of troubles for banks that are already squeezed by exposure to ailing property developers. Mortgages make up almost 20% of total bank loans outstanding, amounting to about $5.8 trillion." ZeroHedge