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16d06/25⚠ war-conflict · 3/5

Asia treads cautiously on Iranian oil exports despite US sanctions waiver

Asian economies are expected to exercise caution in buying oil from Iran following a 60-day sanctions waiver for the Gulf country’s oil exports that took effect from Sunday, as they weigh compliance, financial risk and a potential return of hostilities between Washington and Tehran. Global markets have been looking for signs of progress that the United States and Iran could reach a lasting peace agreement despite concerns over the sustainability of a 60-day ceasefire that began earlier this...

◇ unclassifiedchina · asia · usa
16d06/25⚠ war-conflict · 2/5

US inflation rises to 3-year high, spending picks up

US consumer spending accelerated in May even as prices rose at the fastest pace in more than three years, suggesting Americans are powering through the fallout from the Iran war. The personal consumption expenditures price index rose 4.1 per cent last month from a year earlier, the most since April 2023, Bureau of Economic Analysis data out on Thursday showed. Excluding food and energy, prices were up 3.4 per cent from a year earlier. Inflation-adjusted consumer spending rose 0.3 per cent from a

◇ unclassifiedchina · asia · usa
16d06/25

Beijing slams US, European concerns over coastguard patrols near Taiwan

Beijing on Thursday rejected criticism from the United States and three European nations over its recent coastguard operations east of Taiwan, declaring the patrols were lawful and necessary to safeguard its maritime rights and regional order. The rebuke came a day after the US, Britain, France and Germany expressed concern over the coastguard deployments, saying the activities “threaten regional stability and the freedom of navigation and safety of international shipping”. Chinese foreign...

◇ unclassifiedchina · asia · germany
16d06/25

China vows to seek tariff cuts with US while decrying its ‘malicious’ trade acts

Days after imposing fresh restrictions on dozens of American firms in response to earlier US actions, Beijing has vowed to keep pursuing tariff cuts and “win-win” cooperation with Washington, illustrating how cooperation and confrontation now run in parallel between the world’s two largest economies. Both sides will continue discussing reciprocal tariff reductions within the framework of a newly established trade board while encouraging cooperation in aircraft and agricultural products,...

◇ unclassifiedchina · asia · usa
16d06/25⚠ war-conflict · 3/5

China’s cybersecurity industry needs its own Mythos model, 360 founder warns

China must develop its own equivalent to Anthropic’s Mythos model to counter the cybersecurity risks posed by the artificial intelligence era, according to 360 Security Technology founder Zhou Hongyi, who likened the powerful US technology to a “cyber nuclear weapon”. Released in April with the ability to autonomously identify software vulnerabilities, Mythos has accelerated vulnerability discovery a hundredfold while slashing costs – a “terrifying change” that had effectively “democratised”...

◇ unclassifiedchina · asia · usa
16d06/25

For many outside China, Dear You reflects family history, not politics

When a modest Chaoshan-dialect film about an indebted grandson, a missing grandfather and a bundle of yellowing remittance letters opened quietly in China in late April, few expected it to become one of the biggest films of the year. Yet Dear You has earned more than 1.8 billion yuan (US$265.75 million) at the Chinese box office. It has done so without major stars or heavy promotion – an unlikely triumph for a film told largely in Teochew or Chiu Chow. As the film is released across Southeast...

◇ unclassifiedchina · asia
16d06/25

US’ Rubio wraps up Gulf tour as allies share concerns over Iran peace accord

US Secretary of State Marco Rubio told Gulf allies on Thursday that any deal with Iran would take their interests into account, as he wrapped up a Middle East trip aimed at winning over regional partners with deep reservations about the preliminary accord. Speaking at a meeting of Gulf Arab foreign ministers in Bahrain – home to the US Navy’s Fifth Fleet – Rubio said Washington was seeking an ‌enduring peace with long-time foe Iran that would not come at the expense of the security of allies in.

◇ unclassifiedchina · asia · usa
16d06/25⚠ war-conflict · 2/5

EU releases €3 billion loan for Ukraine’s recovery

The European Union has disbursed the first €3 billion (US$3.4 billion) tranche of a €90 billion loan to Ukraine, the country’s prime minister announced on Thursday at the opening of a conference on Ukraine’s post-war recovery in Poland. The conference, attended by key European leaders including German Chancellor Friedrich Merz and European Commission President Ursula von der Leyen, is both a fundraising forum and a message to Russia that Ukraine’s Western supporters are in it for a long...

◇ unclassifiedchina · asia · germany
17d06/25⚠ war-conflict · 2/5

HK Electric raises fuel charge by nearly 34% and further increases expected

HK Electric has announced a nearly 34 per cent rise in its fuel charge, after a double-digit increase last month, as the war in the Middle East contributed to a “significant rise” in global fuel prices. The utility, which mainly serves Hong Kong Island and Lamma Island, also warned on Thursday that the charge was expected to continue rising. HK Electric announced it would adjust its fuel charge for July to 41.9 HK cents (5.3 US cents) per unit of electricity, up from 31.3 HK cents in June, an...

◇ unclassifiedchina · asia · middle-east
17d06/25⚠ war-conflict · 3/5

Kuaishou chip spin-off taps new funding for in-house designs amid US export controls

Chinese internet giants are increasingly moving beyond software and into semiconductor design, betting that proprietary chips will give them greater control over computing infrastructure as artificial intelligence workloads surge and geopolitical tensions hamper access to advanced foreign technology. Short video giant Kuaishou is the latest to ride the wave, after its chip spin-off TranStreams raised an undisclosed amount in a Series A+ financing round this week led by QF Capital, according to..

◇ unclassifiedchina · asia · russia
17d06/25⚠ war-conflict · 3/5

‘Looming dangers’ under China-US ties: AI and rare earths reveal a fragile floor

Deep-seated structural rivalry and lingering regulatory barriers are likely to limit any thaw in China-US ties, even though last month’s summit put a temporary floor under the fragile relationship, an expert from China’s top state-affiliated think tank has warned. Speaking at the World Economic Forum’s annual meeting in Dalian on Thursday, Zhao Hai, of the Chinese Academy of Social Sciences (CASS), struck a cautious note on the trajectory of the world’s most consequential bilateral relationship,

◇ unclassifiedchina · asia
17d06/25

1 in 5 coffees sold in Europe contains pesticides: report

There is a one in five chance that a packet of coffee beans sold in Europe contains residues of pesticides thought to have been erased during roasting, and in some cases include banned sprays that cause cancer, according to new research. There is a “systemic pattern” of pesticides showing up again and again in beans from most major production regions, says Coffee Watch, a US-based non-profit organisation seeking to reform the global coffee industry. Coffee Watch partnered with Pesticide Action..

◇ unclassifiedchina · asia · europe
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