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South China Morning Post Business5d05/23

Why Gojek co-founder’s trial is alarming Indonesians overseas

For many Indonesians who have built careers abroad, Nadiem Makarim once represented a particular kind of homecoming success story. The Brown and Harvard University-educated co-founder of Gojek had walked away from the start-up world to serve in government, bringing with him the aura of Indonesia’s technology boom and the promise that private-sector talent could help modernise the state. Now, with prosecutors seeking an 18-year prison sentence for the former education minister in a corruption...

china · asia · usa
South China Morning Post Business5d05/23⚠ war-conflict · 3/5

Israel thrusts reluctant UAE into open over defence ties

For months, the United Arab Emirates had denied Iran’s accusations that it was in league with Israeli Prime Minister Benjamin Netanyahu or hosting his country’s military personnel. Then, US ambassador to Israel Mick Huckabee handed Tehran a propaganda gift and Abu Dhabi a diplomatic headache all in a single sentence. Israel sent Iron Dome air defence batteries to the UAE amid the ongoing war on Iran to help protect it from Iranian attacks, Huckabee confirmed at a conference in Tel Aviv on May...

china · asia · usa
South China Morning Post Business5d05/23

82 killed in China’s worst coal mine accident for more than a decade

At least 82 people have been killed in a blast at a coal mine in the central Chinese province of Shanxi, with reports earlier saying the death toll was higher. State news agency Xinhua reported that the gas explosion happened at the Liushenyu Coal Mine in Qinyuan county, about 520km (320 miles) southwest of Beijing, at around 7.30pm on Friday after the mine issued a carbon monoxide alert. There were 247 workers underground at the time of the blast. As of Saturday afternoon, 128 survivors were...

china · asia
South China Morning Post Business5d05/23

Screams as 10 hurt in ‘drop tower’ turbulence on Cathay flight from Brisbane

Ten passengers and crew members were injured when a Cathay Pacific Airways flight from Brisbane to Hong Kong was hit by severe turbulence on Saturday, with one traveller saying it felt like “free-falling from a drop tower” as everyone screamed and items flew through the air. The passenger said the sudden drop in altitude lasted about two seconds and occurred two hours before the expected landing time, just as flight attendants were about to serve economy-class passengers their meals. Cathay said

china · asia · usa
South China Morning Post Business5d05/23

How can Hong Kong help mothers of infants reverse falling breastfeeding rate?

For Hongkonger Annyee Chan, the decision to stop breastfeeding her son at eight months was a pragmatic response to a city that often feels at odds with the needs of nursing mothers. Returning to work just one month after childbirth, the self-employed wealth management professional faced a gruelling logistical challenge, navigating a city with sparse nursing facilities while lugging heavy pumps, bottles and coolers on her daily commute. “I managed to breastfeed my child quite well, and I...

china · asia
South China Morning Post Business5d05/23⚠ war-conflict · 3/5

Whiplash in Taiwan? How Donald Trump’s blunt warning collides with a historic call offer

Donald Trump’s blunt warning that he was not looking to have “somebody go independent” after his summit with Chinese leader Xi Jinping has reignited debate in Taiwan over whether Washington is hardening its message on the island. For many in Taipei, the US president’s remarks evoked memories of the George W. Bush administration, when Washington publicly checked Taiwan over moves seen as edging towards formal independence. But just as analysts were debating whether Trump had delivered the...

china · asia · usa
Reddit r/investing5d05/23⚠ war-conflict · 1/5

I simultaneously understand that the hyperscalers have room to grow, and that the world economy is not stable, how does anyone keep their sanity in this environment?

I simultaneously understand that all of the infrastructure going into AI has a lot of room for growth and will most likely suck up pretty much all industries while also increasing productivity for anything with a moat against the hyperscalers At the same time I can't deny the following: a lot of people will lose their jobs very quickly (much more quickly than previous industrial revolutions) US is no longer looked at like a stable partner/investment due to its governmental instability wars are b

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South China Morning Post Business5d05/23

Bangladesh’s rare ‘Donald Trump’ buffalo draws crowds over resemblance

A rare albino buffalo with flowing blond hair ⁠has become an unlikely ⁠celebrity in Bangladesh ahead of the ⁠Eid al-Adha festival, drawing crowds of curious visitors who say the animal bears a striking resemblance to US President Donald Trump. The nearly 700kg (1,540lbs) buffalo, raised at a farm in Narayanganj district near the ‌capital Dhaka, has been nicknamed “Donald Trump” because of the tuft of pale hair falling across its forehead – a feature many say mirrors the American leader’s...

china · asia · usa
South China Morning Post Business5d05/23

‘Chase your dreams’, Hong Kong’s first astronaut tells city’s young people

Hong Kong’s first astronaut has encouraged the city’s young people to chase their dreams, declaring that “there must be a better tomorrow” if everyone works hard and bears the country in mind when pursuing one’s goals. Payload specialist Lai Ka-ying, one of three astronauts on the Shenzhou-23’s mission to China’s Tiangong space station scheduled to launch on Sunday evening, told Hongkongers in a press conference on Saturday that she would “ga yau”, meaning to step up efforts in Cantonese. “Thank

china · asia
South China Morning Post Business5d05/23

What the China-US stability pact means for Southeast Asia

When Xi Jinping and Donald Trump concluded their Beijing summit, the most consequential outcome – for China at least – may prove not material, but conceptual: the adoption of “constructive strategic stability” (CSS) as the guiding framework for managing their intensifying competition. For Southeast Asia, a region often caught in the rivalry between the two powers, understanding what this means will matter in the years ahead. The framework reflects a long-held Chinese strategic aspiration....

china · asia
South China Morning Post Business5d05/23

Mock cockroach-theme political party draws India’s jobless youth, Modi’s rivals

A mock political party erupted across Indian social media this week, becoming a symbol of Gen Z disillusionment with the country’s political establishment and anger over a worsening jobs crisis in the world’s most populous nation. The Cockroach Janta Party, as the satirical movement is known, has already overtaken the ruling Bharatiya Janata Party on Instagram, racking up nearly 20 million followers and attracting attention from rivals of Prime Minister Narendra Modi. “Cockroach Janta Party...

china · asia · india
South China Morning Post Business5d05/23

For China’s ailing developers, retail frenzy greets semiconductor side-hustles

Embattled Chinese developers have turned to a new strategy to resuscitate their ailing businesses: diversifying into semiconductor production. Certain listed property companies have seen their shares skyrocket – some by hundreds of per cent – after announcing investments in “chipmaking”. Such strategic diversification efforts have sparked a buying frenzy among retail investors in the mainland’s A-share market. “Chip-themed stocks are the new darlings of individual investors since [such stocks]..

china · asia
South China Morning Post Business5d05/23

Lai Ka-ying is Hong Kong’s first astronaut. Her mentor saw her talent years ago

If you are working on a space station orbiting hundreds of kilometres above Earth, the woman set to become Hong Kong’s first astronaut when the mission launches this weekend is exactly the kind of person you want by your side, according to the professor who supervised her postgraduate studies. Lai Ka-ying was meticulous, patient and a skilled communicator who could break down highly technical ideas for others, Chow Kam-pui, an honorary associate professor at the University of Hong Kong, told the

china · asia · usa
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