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8d07/07

AI ‘central plank’ in Hong Kong’s economic development, John Lee says

Hong Kong’s high-quality economic development will be guided by its first five-year blueprint and the coming policy address, with artificial intelligence (AI) as the “central plank”, the city’s leader has said. Speaking at the South China Morning Post’s China Conference 2026 on Tuesday, Chief Executive John Lee Ka-chiu also said Hong Kong’s “one country, two systems” advantages and commitment to innovation and technology position the city to connect the world with opportunities in an AI-powered.

unclassifiedchina · asia
8d07/07war-conflict · 2/5

Tanker set ablaze after hit by projectile in Strait of Hormuz region

An “unknown projectile” struck and caused a fire on an oil tanker off the coast of Oman near the Strait of Hormuz on Monday, British maritime security agency UKMTO said. The incident occurred near one of the world’s most important energy shipping routes, despite a ceasefire between the United States and Iran and ongoing efforts to secure a lasting peace agreement. The United Kingdom Maritime Trade Operations (UKMTO) said the incident took place about 8 nautical miles (15km) east of Limah,...

unclassifiedchina · asia · usa
8d07/07

Kuaishou shares tumble as Tencent slashes stake after US$3b Kling AI deal

Shares of Kuaishou Technology fell more than 6 per cent on Tuesday morning after Tencent Holdings slashed its stake in the short-video platform by selling 273 million Class B shares, just days after leading a US$3 billion financing round for Kuaishou’s artificial intelligence video unit, Kling AI. The divestment will reduce Tencent’s shareholding in Kuaishou to 9.37 per cent from 15.68 per cent, meaning the tech giant would cease to be a substantial shareholder, according to a Kuaishou filing to

unclassifiedchina · asia
8d07/07

Vandal demands peanut butter sandwich to end Australian bridge stand-off

A man ⁠scaled the 140-metre-high (460 ⁠foot) tower of ⁠a cantilever bridge in the Australian city of Melbourne on Tuesday and painted a giant cartoon bird on it, disrupting morning commuter traffic. The man demanded ‌a peanut butter sandwich be delivered by drone before he would come down, causing a stand-off with police and closing a lane on the Bolte Bridge. “A man has scaled the bridge and remains in a restricted area ⁠on the eastern tower. He is refusing to follow police direction ‌and come.

unclassifiedchina · asia · usa
8d07/07

SCMP’s China Conference to debut in Astana this September

The South China Morning Post will host its China Conference in Kazakhstan’s capital in September, following a high-level Hong Kong delegation led by the city’s leader to Central Asia last month, marking the first such event organised by a local media outlet in the region. Announcing the move at the SCMP China Conference 2026 on Tuesday, publisher Tammy Tam said the event in Astana would enable participants to explore new opportunities while gaining first-hand experience of the dynamism in the...

unclassifiedchina · asia
8d07/07war-conflict · 1/5

AI is useful, but who actually captures the profit?

A lot of AI discussions seem to mix two different questions together. One question is whether AI is useful. I think the answer is clearly yes in some areas: coding, document work, customer support, data analysis, medical imaging, internal workflows, etc. But the investment question feels harder: who actually captures the long-term profit from that usefulness? Is it the chip companies, cloud providers, software companies, power/infrastructure players, or the normal businesses that use AI to cut c

Socialunclassifiedsocial-signal
8d07/07

Singapore’s Carousell hits profitability milestone, banks on AI as ‘force multiplier’

At Carousell’s Singapore office, a red tunnel greets employees with the company’s mission to “make second-hand the first choice” – a slogan its leaders say is moving closer to reality as the platform for buying and selling used goods recorded its first positive adjusted operating profit. The Singapore-headquartered company, last valued at US$1.1 billion in 2021, said on Tuesday it had achieved positive Ebitda – earnings before interest, taxes, depreciation and amortisation – for the first time,.

unclassifiedchina · asia · usa
8d07/07

Bargain homes are to be had in New Zealand but here’s the catch: floods

New Zealand’s flood-prone homes are outperforming the rest of the country’s moribund housing market, as buyers chase lower prices and shrug off climate risks. Properties facing the highest flood risk have gained 26.1 per cent in value since January 2020, compared with 19.8 per cent for homes with no exposure, property consultancy Cotality said in Wellington on Tuesday. Discounts of as much as NZ$100,000 (US$60,000) on some houses were proving too tempting for cost-conscious consumers, it...

unclassifiedchina · asia
8d07/07

China records most new unicorn start-ups in 5 years as AI and robotics boom

China’s innovation ecosystem has witnessed a resurgence, minting 67 new unicorn start-ups in the first half of 2026 – the biggest increase in almost five years – as AI and robotics kick off a new investment cycle. The growth translates into an average of one new unicorn – private companies valued at US$1 billion or more – in less than every three days and was the highest since the second half of 2021 when 76 new unicorns were created, according to a Monday report by ITJuzi, a start-up...

unclassifiedchina · asia · usa
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