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The US imposed tariffs as high as 12.5 per cent on 60 trading partners, including China, after President Donald Trump adopted a different method for pursuing his global trade war. The levies, which are related to forced labour, replaced a temporary 10 per cent global tariff that expired on Friday. The 10 per cent tax was imposed after previous Trump tariffs were struck down by the US Supreme Court...
Life insurance sales in Hong Kong rose 51 per cent in the first quarter to another record high, driven by affluent customers from mainland China and overseas buying policies for wealth transfer, protection and medical needs. The industry wrote HK$141.1 billion (US$18 billion) in new life policies in the first quarter, compared with HK$93.4 billion a year earlier, according to data from the Insuran...
South Korea has returned a pair of Qing dynasty (1644-1911) marble sculptures to China, a symbolic gesture as the two nations work to repair bilateral ties through cultural diplomacy. The male and female lions, each standing 1.9 metres (6ft) tall and weighing 1.25 tonnes, were officially handed over by the Kansong Art Museum at a ceremony in Seoul on Thursday and were set to depart for China on Fr...
China has added 14 entities from the European Union to its export control list, the Ministry of Commerce announced on Friday. Effective immediately, the order means the export of dual-use items – products with civilian as well as military application – from China to the named entities is prohibited, as is the shipment of dual-use items of Chinese origin to the listed companies and institutions. Th...
China has added 14 entities from the European Union to its export control list, the Ministry of Commerce announced on Friday. Effective immediately, the order means the export of dual-use items – products with civilian as well as military application – from China to the named entities is prohibited, as is the shipment of items of this type originating in China. More to follow...
Japan’s move to establish a new bureau to boost defence cooperation with allies is part of Tokyo’s wider policy to deepen deterrence against China, analysts say, adding that the internal reform was also long overdue for the government. The new unit will be under the defence ministry to oversee international coordination with like-minded countries, according to government and political sources cite...
First, the US-Israeli war on Iran sparked a Diet Coke shortage in India by squeezing supplies of aluminium cans, triggering an unusual wave of “Diet Coke parties” in one of the world’s largest consumer markets. But now, the fizzy drink is getting pricier. Across India, Coca-Cola has hiked prices of Diet Coke – sold predominantly in aluminium cans in the country – by more than 10 per cent due to t...
China-Philippine clashes continued near the hotly contested Scarborough Shoal for the second day on Friday, as Beijing started military drills in the South China Sea that are expected to run until the end of the month. “On July 24, the China Coast Guard took control measures in accordance with the law toward multiple Philippine vessels engaged in illegal activities in waters under China’s jurisdic...
US global asset managers, including BlackRock, have expanded stakes in mainland Chinese pharmaceutical contractor WuXi AppTec over the past two months, betting that a surge in weight-loss drug manufacturing orders will lift earnings in the first half of the year. Global investors were increasingly interested in China’s contract development and manufacturing organisation, and biotechnology sector, ...
A South Korean court on Friday ordered SK Group Chairman Chey Tae-won to pay his former wife Roh Soh-yeong 944 billion won (US$644 million) in a divorce-related property division case, lower than a previous 1.38 trillion won award that had drawn scrutiny of his stake in the group’s holding company. If finalised, the ruling from the Seoul High Court would be South Korea’s most expensive divorc...
Chinese unicorn Moonshot AI’s Kimi K3 model trails far behind top American rivals in its ability to launch cyberattacks, joint British-US government research shows, challenging Washington’s brewing anxiety over the rapid rise of Chinese open-source artificial intelligence. The model, currently considered China’s most powerful large language model, performs “significantly below the most recent fron...
Chinese unicorn Moonshot AI’s Kimi K3 model trails far behind top American rivals in its ability to launch cyberattacks, joint British-US government research shows, challenging Washington’s brewing anxiety over the rapid rise of Chinese open-source artificial intelligence. The model, currently considered China’s most powerful large language model, performs “significantly below the most recent fron...
From massive typhoons and severe floods to scorching heat, China is being hit by a barrage of extreme weather events. Behind this surge in volatility lies a brewing “super” El Nino, according to researchers. Scientists warn that we are only seeing the prelude, and with the current event already rivalling historic climate disasters, it signals a potentially perilous future for the nation and the gl...
Hong Kong flag carrier Cathay Pacific Airways will raise fuel surcharges by up to 41 per cent on most passenger flights from August, citing escalating tensions in the Middle East. The airline said on Friday that the higher passenger and cargo fuel surcharges would take effect on August 1, following a brief period of declines after prices peaked in April. “This is the first increase to passenger an...
A Hong Kong woman has been arrested for allegedly stealing electricity after a fire broke out in her Mong Kok flat, killing three cats and two dogs. Investigators said on Friday that the 56-year-old, surnamed Chan, had left her Tung Choi Street flat at about 6pm the previous day with the air conditioner switched on. The flat was believed to have caught fire due to a short circuit. She was apprehen...
Bangladesh President Mohammed Shahabuddin, a former ally of ousted prime minister Sheikh Hasina, will resign on Friday halfway through his term, according to his spokesman. The president’s office is a largely ceremonial post and Shahabuddin is quitting much before the end of his tenure in April 2028. The decision comes after Hasina announced her plan to return in December to surrender following a ...
Thousands of visitors have flocked to an animation, comics and games fair in Hong Kong, drawn to Hello Kitty plush toys, Spider-Man figurines and spinning top contests, among other collectibles and interactive activities. The five-day Ani-Com & Games Hong Kong fair opened on Friday at the Hong Kong Convention and Exhibition Centre in Wan Chai, with many attendees seeking to buy limited-edition mer...
Young people in China are homemaking kombucha, reviving a 1980s fad from the previous generation after the drink became a globally recognised health product. In recent years, kombucha has gone viral in Western countries as a commercial beverage, endorsed by stars such as Kourtney Kardashian and Lady Gaga. The trend has reached China and prompted some drinks makers to release kombucha products. Mea...
China unveiled its 15th five-year plan for renewable energy on Thursday. Below are the key targets outlined in the blueprint, which was released jointly by the National Development and Reform Commission and National Energy Administration. See original document in Chinese: 可再生能源发展“十五五”规划 by scmp
London’s mayor and police chief have used a drop in recorded street crime to reassure tourists the city is safe and counter an online narrative depicting Britain’s capital as a lawless dystopia. The city’s Metropolitan Police force said “neighbourhood crime”, a category that includes phone theft, pickpocketing, residential burglary and vehicle crime, fell 14 per cent in the year to June. In Westmi...
Malaysia’s ambassador to the United States was summoned by the US State Department to explain Kuala Lumpur’s position on Israel, state media reported, citing the country’s foreign minister. Foreign Minister Mohamad Hasan said Ambassador Muhammad Shahrul Ikram Yaakob told the State Department that Malaysia’s long-standing policy of not recognising Israel was not new. “It has always been Malaysi...
China’s securities watchdog has pledged to channel more medium- and long-term capital into the country’s stock markets and fortify financial defences against external shocks, as authorities move aggressively to stabilise sentiment following recent market turbulence. At a meeting on Thursday, the China Securities Regulatory Commission announced a raft of measures aimed at maintaining smooth market ...
The six candidates vying to lead the United Nations stressed the importance of restoring the credibility of an organisation in crisis during a restrained debate Thursday, one week before the selection process formally starts. With the campaign struggling to generate real enthusiasm for a front-runner, the hopefuls faced nearly two hours of questions from diplomats, UN employees and civil society r...
Barely four months into its implementation, South Korea’s new labour-friendly law is coming under growing scrutiny as workers’ demands for bonuses tied to a fixed percentage of corporate profits spread across the country. If left unchecked, critics warn, the revised Trade Union and Labour Relations Adjustment Act – commonly known as the Yellow Envelope Act – could fuel labour disputes, create unce...
We have selected seven stories from this week’s news across Hong Kong, mainland China, the wider Asia region and beyond that resonated with our readers and shed light on topical issues. If you would like to see more of our reporting, please consider subscribing. 1. Liberation Day 2.0? US slaps fresh wave of tariffs on China, 50-plus economies The United States imposed late on Thursday a fresh wave...
We have selected seven stories from this week’s news across Hong Kong, mainland China, the wider Asia region and beyond that resonated with our readers and shed light on topical issues. If you would like to see more of our reporting, please consider subscribing. 1. US slaps fresh tariffs on China, 50-plus countries in latest wave The United States imposed late on Thursday a fresh wave of tariffs a...
Joseph Chang Yanfeng was ordained bishop of Chifeng in China’s northern Inner Mongolia autonomous region on Wednesday, highlighting the uneasy diplomatic engagement between Beijing and the Vatican on the sensitive issue of Catholic appointments. According to Vatican News, Pope Leo XIV approved Chang’s appointment on June 15, under the terms of the 2018 provisional agreement between the Holy See an...
Kozo Okamoto, the Japanese militant who took part in a deadly attack on Tel Aviv’s airport more than five decades ago, died on Thursday in Beirut, the Palestinian group that had been protecting him said. He was 78. The Popular Front for the Liberation of Palestine, a faction that is the second-largest group in the Palestine Liberation Organization, said that Okamoto had been ill for a long time. O...
Cambodian Prime Minister Hun Manet pledged to step up a crackdown on transnational online scam networks, but warned the criminal syndicates were adapting by fracturing into smaller, decentralised cells across the region. Authorities had already shut down more than 670 illegal scam operations while expanding intelligence sharing with key international law enforcement partners, he said, including du...
Simon Johnson is a professor of entrepreneurship at the Massachusetts Institute of Technology (MIT). A former chief economist of the International Monetary Fund (IMF), he won a joint Nobel Prize for economics in 2024 for his research into how institutions shape national prosperity. On June 8, the British government announced Johnson as chair of its new AI Economics Institute. In this interview, co...
