The DailyBrief

Tuesday October 25, 2016

Militant group Islamic State claimed responsibility on Tuesday for an attack on a police academy in the Pakistani city of Quetta on Monday night. Masked gunmen killed at least 59 people and wounded more than 100. Most of those killed were police cadets.

China’s National Development and Reform Commission claimed on Tuesday the country is ahead of schedule in cutting excess steel capacity this year, as part of a five-year program. Reduced capacity will buoy prices – and, in turn, major steelmakers.

In a special report from the UK, we highlight the predicament of young Vietnamese who are being trafficked into a life of misery in the country. A charity says many are forced to work in cannabis farms and that their plight is largely overlooked by law enforcement agencies.

Ratan Tata, the patriarch of one of India’s most influential families, will take over as interim chairman of Tata Sons after the salt-to-software conglomerate’s board ousted Cyrus Mistry, who had sought to shake up the firm’s management.

In our round-up of market-moving stories from Chinese language media, we report that banks in Beijing are issuing mortgages as usual, despite rumors to the contrary. Xinhua News Agency broke the story on Monday evening, citing an unnamed source at a state-owned bank.