Finance news

Liberal Islam in Indonesia is sliding into irrelevance

It has been 25 years since Indonesia’s Liberal Islam Network (Jaringan Islam Liberal or JIL) was established in March 2001, just three years after Reformasi. The intellectual network has been in disarray for much of the past decade, reflecting the current state of Indonesia’s broader liberal and progressive Islamic movement. The old guard, represented by the establishments within Nahdlatul Ulama (NU) and Muhammadiyah, faces elite co-option as they seek access to state resources while also...

From protein coffee to CBD soda: How brands are cashing in on the functional beverage boom

"We're selling [almost] as much protein cold foam as we do flat whites," Starbuck's EMEA Manager of Beverage Development Sam Henderson told CNBC.

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◇ unclassifiedchina · asia · middle-east

Steeper prices ahead after Qatar gas supply cut off, HK Electric tells customers

Customers with one of Hong Kong’s top energy firms have been forced to bear the brunt of steeper supply costs after the conflict in the Middle East cut off gas from Qatar earlier this year, the company’s CEO has said. HK Electric’s Francis Cheng Cho-ying said on Sunday that the firm had not received any gas from Qatar since March, after Iranian strikes damaged production facilities that accounted for a significant portion of the contracted gas supply for the Lamma Island power plant. The company

19d06/28⚠ war-conflict · 1/5

Z.ai’s open source GLM5.2 model is now at par with available western models. It was trained completely on Hauwei’s chips

Chinese company Z.ai’s GLM5.2 model dropped a week back and it’s at par with the publicly available western models. The ceo says they will have Claude Mythos level model in a matter of months. Meanwhile Claude Mythos isn’t even available for most American companies at the moment. The real kicker is this frontier level model from China was completely trained on Huawei chips. A lot of people will cope here with “yeah they just distilled Claude”. To a certain extent looks like they did, atleast acc

Social◇ unclassifiedusa · china · russia

Inside the Singapore travel trend that’s swarming China’s furniture capital

For a growing number of Singaporeans, furnishing a new home has become reason enough to book a holiday. Not the sort involving beach clubs or Michelin-starred restaurants. Instead, these design-savvy travellers are flying to China armed with camera rolls full of sofa and cabinetry photos, meticulously curated Pinterest boards and floor plans marked with dimensions down to the centimetre, all in pursuit of custom-made furnishings for their homes. Blame it on our collective obsession with our...

Widen mental health support for Hong Kong youth beyond high-risk cases, adviser urges

Hong Kong should broaden mental health support beyond high-risk students amid the growing impact of social media on young people, a government adviser has urged, as a prominent tycoon pledged to empower more young philanthropists to tackle the problem. Children who had not shown any of the usual signs of intense difficulty at home or school were taking their own lives, according to Dr Lam Ching-choi, a member of the city’s key decision-making Executive Council and the chairman of the Advisory...

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Why are Chinese audiences going for Korean musicals rather than Western shows?

As the lights dimmed in the Shanghai theatre, the string quartet struck up once more for the encore. Tina Zhang was fully drawn into the psychological thriller, but it was not until after the show that she found out that the musical was originally from South Korea. Zhang, 39, saw the official Chinese adaptation of Interview for the first time last year. “The logic was tight, the plot was well-structured and interwoven, and it was genuinely engaging,” she said. Over the past few years, a number..

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Pakistan rattles India with new Chinese-built stealth submarine

The last time Pakistan’s navy operated a submarine in the Bay of Bengal, India sank it. That was 1971. Fifty-five years on, Islamabad is signalling its intent to go back. The vessel delivering that message, PNS Hangor, arrived in Karachi on June 11, the first of a class of eight attack submarines – four built in China, with the remainder to be constructed in Pakistan to develop its shipbuilding capacity. PNS Hangor is named after an earlier Daphne-class submarine that sank the Indian frigate INS

19d06/28⚠ war-conflict · 3/5

Hong Kong Observatory issues amber rainstorm signal, warns city to brace for rain

This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. The Hong Kong Observatory has issued the amber rainstorm warning, advising residents to brace for wet weather under the influence of a low-pressure trough along the southern Chinese coast. The forecaster issued the lowest of a three-tier rainstorm warning at 11.10am on Sunday, signalling widespread heavy rain would affect Hong Kong soon. The signal means that

Bangkok votes for governor as Chadchart eyes record term amid urban woes

Bangkok residents began voting on Sunday for governor of the Southeast Asian megacity, with Chadchart Sittipunt tipped to return to City Hall to steer a capital blighted by floods, traffic and pollution. Over 4.5 million Bangkokians are eligible to vote for the governor and 50 council members who will run the city authority. Chadchart, 60, a former transport minister and engineering lecturer, led the polls ahead of Sunday’s ballot, as a man affectionately dubbed “Hulk” seeks a second four-year..

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War sites as destinations: Dark tourism: What draws us to places of horror

Whether Hiroshima, Normandy or Srebrenica – places like these are inextricably linked to war tragedies. At the same time, they are now visited by tourists. Why this is important.

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Kathmandu's cocktail scene finds its own flavor

China’s big trucks go electric and abroad as subsidies help pave road to net-zero freight

Domestic makers of heavy-duty trucks are emerging as the latest beneficiaries of accelerating electrification on China’s roads, as technological gains and lower ownership costs are bolstering overseas sales amid a global energy crisis. Southeast Asia and Africa, where Chinese makers have already established overseas assembly hubs, were expected to serve as new growth engines for companies ranging from FAW Jiefang to Foton Commercial Vehicles, according to analysts at S&P Global Ratings. The two.

Gas stations: End of the fuel discount: Better to fill it up again - but when?

The tax relief at the pump only applies until Tuesday. What the 1.6 billion expensive measure achieved and why you shouldn't wait until the last minute to fill up.

Iranian drones target Bahrain after US offensive, straining ceasefire

Bahrain said it had been targeted by Iranian drones and a ship in the Strait of Hormuz was struck on Saturday, adding fresh tension to the detente established in the wake of an interim US-Iran peace deal signed earlier this month. Bahrain’s foreign ministry said a number of Iranian drones targeted the country, home to the US Navy’s 5th Fleet, early on Saturday morning, state-run BNA reported. Tehran has repeatedly targeted it and other Gulf states that host American military bases and thousands.

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After price highs: retailers reduce prices for branded coffee

After the sharp price increase in recent years, coffee is now becoming cheaper again. First, the large retail chains lowered the prices of their own-brand products - now the brands are following suit.

What Beijing hopes to achieve with new ethnic unity law that targets people overseas

A new Chinese law that pledges to hold overseas individuals and organisations responsible for undermining ethnic unity is mainly intended to have a “deterrent effect”, according to analysts. The Law on Promoting Ethnic Unity and Progress was passed in March and is set to take effect next month, with Article 63 at the heart of the controversy about targeting people outside China. The law provides a new framework which analysts said was designed to counter Western ideological influence and provide

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‘Too late’: why some Malukans say a Dutch apology isn’t enough

A recent apology by the Dutch prime minister to the Netherlands’ Malukan community for systemic mistreatment by the state has met with mixed responses; some welcomed the remorse while others demanded concrete action over symbolic words. On June 21, Dutch Prime Minister Rob Jetten formally apologised to members of the 75,000-strong Malukan community for the state’s mistreatment of the first generation of Malukans who arrived in Europe 75 years ago from the Maluku Islands in Indonesia,...

Stuttgart car manufacturer: 100 years of the Mercedes-Benz brand - where will the star roll?

The Mercedes-Benz brand is known worldwide. The famous star has long been emblazoned on more than just cars. How did the Stuttgart-based company achieve this and what's next for the brand?

Vision in children: No epidemic of myopia in Germany

Little time outside, a lot in front of screens: In many countries, the number of short-sighted children has increased immensely. A plateau seems to have been reached in Germany.

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Iran War: Revolutionary Guards: Targets in Kuwait and Bahrain attacked

After the latest attack by US forces on targets in Iran, the Iranian Revolutionary Guards say they are attacking US allies in the Gulf region. Is there a risk of a new escalation?

Hong Kong’s AI push needs a broader vision and more realistic goals

Hong Kong cannot be faulted for not working hard enough to catch up in the global artificial intelligence (AI) race. Government funding is flowing generously towards projects focused on AI adoption. In recent years, the government has pumped billions into building the necessary infrastructure, including HK$2.84 billion (US$364 million) for a semiconductor centre, HK$3 billion for an AI subsidy scheme and another HK$1 billion allocated for an advanced AI R&D institute. In March, the government...

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Devoted police dog moves millions in China by waiting for injured handler, refusing food

A police dog in southwestern China, who continuously refused food and water while awaiting the return of its injured handler, has captured the hearts of millions online after their emotional reunion went viral. According to Yunnan police, the officer, known by the alias Awei, hails from Chuxiong in Yunnan province. He is the handler of Bulu, a four-year-old German shepherd specially trained for narcotics detection in complex operational environments. The extent of their partnership and Bulu’s...

Financial products or illicit gambling? Can Hong Kong regulate prediction markets?

The legality of prediction markets in Hong Kong has been called further into question, with at least one international brokerage firm operating such a platform in the city, prompting the market regulator to say certain activities may be considered “financial products”. Lawyers were also split on whether the delineation between financial products and illegal gambling was clear under the city’s existing laws given the nature of prediction markets, with one saying the latest case highlights a “grey

◇ unclassifiedchina · asia · japan

Will Japan’s tourist visa fees, interest rate policy impact its booming property market?

With Japan imposing higher visa fees for tourists from July while moving away from an ultra-loose monetary policy, foreign investors must prepare themselves for both direct and indirect impacts on their real estate assets, according to agents and analysts. There is a dearth of data on the total number of homes bought by non-residents in Japan, but agents said the two main reasons for purchasing were to either use them as a primary base while they explored the country’s tourist destinations, or..

Energy prices: Verivox: Gas costs for many households could fall in 2026

Despite higher wholesale prices, gas costs could fall slightly for millions of gas customers in 2026. Provided that suppliers no longer raise prices, says the comparison portal Verivox.