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South China Morning Post Business3d05/24

Crowds top 10,000 at Hong Kong’s Cheung Chau Bun Festival as parade draws visitors

Hong Kong’s annual Cheung Chau Bun Festival drew more than 10,000 visitors by noon on Sunday, including tourists who had travelled specially to witness the signature parade featuring “floating” children dressed as Middle Eastern oil moguls and judges. Visitors to the outlying island on Sunday splurged on frozen pineapples, watermelon juice and frozen mango mochi to beat the heat as the mercury hit 30 degrees Celsius (86 Fahrenheit). The event, also known as Da Jiu Festival, includes the Piu Sik.

china · asia · europe
South China Morning Post Business3d05/24war-conflict · 2/5

Will Zimbabwe’s lithium strategy help it break into the value-adding game?

Zimbabwe is betting that its move into lithium processing will finally break the cycle of digging and shipping ore that has defined its mining sector for decades. This follows the export of the continent’s first consignment of lithium sulphate by Prospect Lithium Zimbabwe, a subsidiary of China’s Zhejiang Huayou Cobalt, from its US$400 million Arcadia mine near Harare last month. The milestone came after Harare unexpectedly brought forward its ban on raw mineral exports to February this year to.

china · asia · usa
South China Morning Post Business3d05/24

Japan to scour social media in hunt for visa overstayers, illegal foreign workers

Japan’s immigration authorities plan to crack down on visa overstayers and illegal foreign workers by monitoring social media and other platforms for information or leads. The initiative is part of the country’s efforts to reduce the number of overstayers at a time when Japan is taking in more foreign workers due to labour shortages. As early as next year, the Immigration Services Agency plans to use analytical tools to identify online information related to illegal work, including solicitations

china · asia · usa
Reddit r/eupersonalfinance3d05/24

What would you do in a "lost decade"?

Historically, there have been a few "lost decades" for stocks - periods of 10 to 20 years where stocks didn't grow at all. The most recent one was the dot-com bubble and GFC, when it took the stock market about 13 years to recover, and that's not even accounting for inflation. We're so used to the stock market giving us great returns year after year that I'm not sure how I'd react if it had 2-3 major crashes one after another and ended up with zero growth over, say, 15 years. It must be psycholo

Socialeurope
South China Morning Post Business3d05/24war-conflict · 2/5

California races to prevent chemical tank explosion as thousands evacuated

Firefighters warned on Saturday that a tank of toxic chemicals in California is heating up, adding to fears of a catastrophic explosion that has already forced tens of thousands of Californians to evacuate. About 40,000 residents were ordered to leave their homes in the Garden Grove area of Orange county, southeast of Los Angeles, on Friday after the tank began to leak, sending fumes over a heavily populated area. The tank contains 26,000 litres (7,000 gallons) of methyl methacrylate, a volatile

china · asia · usa
South China Morning Post Business3d05/24

Beyond China: emerging markets hold key to profitability for world’s largest robovan fleet

Chinese robovans could generate twice as much revenue in Southeast Asia and the Middle East than in the domestic market, making overseas expansion a must for profitability, according to autonomous driving leader Zelos Technology. The company claims to have built the world’s largest robovan fleet since it was founded in Suzhou in 2021, but scaling up international business was key for survival, said Sean Zhang Xuchen, co-founder, chief operating officer and head of global business at...

china · asia · middle-east
South China Morning Post Business3d05/24war-conflict · 2/5

How Chinese traders in Iran are keeping business afloat as war capsizes naval shipping

As the US-Israel war on Iran stretches past its 80th day and continues to upend global naval shipping, a growing number of Chinese investors in Iran are turning to railway and overland transport routes to keep their businesses afloat. While disruptions to ship traffic in the Strait of Hormuz show little sign of abating, many are hoping that transcontinental freight links across Eurasia could become a more reliable option. Chinese trader Han Yun has spent recent weeks travelling long distances...

china · asia · europe
South China Morning Post Business3d05/24war-conflict · 3/5

Russian missiles pummel Kyiv in retaliation for dorm attack that killed 18

Russia pounded Kyiv with a large missile and drone attack early on Sunday, killing one person and wounding 20, authorities said, after Moscow threatened retaliation for strikes in Russian-occupied eastern Ukraine. Multiple rounds of loud explosions were heard in the Ukrainian capital throughout the early hours of the morning. “Tonight Kyiv region is once again enduring a mass enemy attack with strike drones, cruise missiles and ballistic missiles,” said Mykola Kalashnyk, the head of the regional

china · asia · russia
South China Morning Post Business3d05/24

‘We are very proud,’ John Lee tells first Hong Kong astronaut ahead of space flight

Hong Kong’s leader has sent his blessings to the first local astronaut, Lai Ka-ying, in a video call ahead of the launch of the Shenzhou-23 space flight on Sunday, calling her participation in the mission a reflection of the country’s trust and support for the city. Payload specialist Lai, in response, recalled her packed, tough training in Beijing, which had “finally come to an end”, while expressing confidence that she would complete her space mission. Chief Executive John Lee Ka-chiu on...

china · asia
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