Finance news

China’s biotech industry sees global expansion as unstoppable, despite US pressure

China’s biotech firms are pressing ahead with global expansion, a trend industry insiders describe as “irreversible”, even as Washington rolls out investment restrictions and national security measures aimed at slowing their advance. “The US has erected numerous regulatory and non-tariff barriers for Chinese companies seeking to enter the American market,” said Zhang Jun, co-head of the global healthcare group at Chinese investment bank Citic Securities, at the Hong Kong Exchanges and Clearing’s

Who pays when rockets explode? China insures SpaceX’s rivals in orbital race against US

This is part of a series on the global impact of SpaceX’s historic IPO, tracing how mainland Chinese investors’ strategies, the Hong Kong market and wider capital flows are being reshaped by Elon Musk’s trillion-dollar rocket gamble. In 2016, a SpaceX rocket carrying a satellite blew up during a test, destroying on-board equipment and surrounding facilities worth millions of US dollars. Fortunately, the satellite operator, Israel’s Space Communications, had an insurance policy worth almost...

USA: Trump irritates with statements about inflation and oil

US inflation rose to over four percent in May - the US President responded to this by saying “I love inflation”. He also claimed that the US had transported “millions of barrels of oil” through the Strait of Hormuz unnoticed.

Do not let US-China ties spiral out of control, ex-Treasury chief Paulson warns

Former US Treasury secretary Henry Paulson has urged Washington and Beijing to manage their escalating strategic competition to prevent it spiralling into broader conflict, warning that deepening distrust now poses a greater risk than trade imbalances. The US-China relationship was “the most consequential” in the world, requiring careful stewardship as rivalry sharpened across trade, technology and security, he said. “We have to be careful that the decoupling does not become...

Malaysia’s hunt for Russian oil tests Anwar’s ‘friends with all’ policy

Malaysia’s search for alternative crude supplies is complicating Prime Minister Anwar Ibrahim’s “friends with all” foreign policy, analysts have said, with the country potentially tapping Russian oil despite Western sanctions against Moscow. On Thursday, oil prices rose again after Iran declared the Strait of Hormuz closed, 103 days after the US-Israel war with Iran began on February 28. Washington has signalled it wants sanction waivers over Russian oil to end “as soon as possible”. Economy...

Has Beijing given up on a nuclear weapon-free Korean peninsula?

China might be downplaying nuclear weapons by not mentioning the issue after Xi Jinping’s visit to North Korea but that does not mean it has accepted its neighbour’s growing arsenal, according to analysts. Neither Beijing nor Pyongyang mentioned nuclear weapons or denuclearisation in their statements on the Chinese president’s two-day state visit to Pyongyang this week. Since Xi’s summit with US President Donald Trump in May, observers have been speculating that Beijing’s stance on Pyongyang’s..

Iran’s ‘unity of theatres’ strategy exposes US-Israel rift

The rapid escalation in hostilities between Iran and the US-Israel alliance since Sunday is being driven by Tehran’s growing confidence that it can arise like a mythical phoenix from the ashes of war, strategically stronger than ever in the Middle East. To achieve this objective, Tehran has enacted a tactical shift in its “unity of the theatres” strategy involving its Axis of Resistance allies in Lebanon, Yemen and Iraq: Israeli and US attempts to decapitate one head of this hydra-like monster,.

To beat chip crunch, Chinese firm inks memory deal bigger than its sales

Chinese memory module maker Biwin has signed a two-year agreement worth US$1.86 billion to secure flash memory chips, a deal larger than its annual revenue, as demand from artificial intelligence servers and data centres squeezes supply. Under the locked-volume, locked-price arrangement, Biwin would buy enterprise-grade chips in batches from the third quarter of 2026 through the second quarter of 2028, according to a filing with the Shanghai Stock Exchange on Tuesday. The supplier was not...

Oracle Corp. invested US$55.7 billion in capital expenditures over the past year to accelerate the expansion of its AI infrastructure business, exceeding its earlier projection of US$50 billion.

Quarterly capex totaled US$15.9 billion in the period ended May 31, highlighting the company's massive data center buildout to meet growing demand from OpenAI and other customers developing artificial intelligence applications. The company, long known for its database software, has increasingly repositioned itself as a provider of computing capacity for AI workloads. Oracle also announced plans to raise US$50 billion through debt and equity financing this year to support its capital needs. Oracl

Iran War: Hegseth: “If we have to negotiate with bombs, we will negotiate with bombs”

The USA and Iran attacked each other again on Thursday night. The US Secretary of Defense still sees the possibility of an agreement - but President Trump is “ready to fight if necessary”.

3 Indian sailors dead after US attacks commercial vessel off Oman

Three Indian sailors on a commercial vessel hit by the United States off the coast of Oman are dead, New Delhi’s shipping minister said on Thursday. “It is deeply unfortunate to learn of the tragic incident aboard the Palau-flagged MT Settebello,” Sarbananda Sonowal said in a statement, referring to the strike on the vessel a day earlier. “Sadly, three Indian seafarers initially reported missing are now confirmed dead after bodies have been located and identified.” India’s foreign ministry...

+++ Football World Cup 2026 +++: US investor wants to assert claims against Madrid against Spain's team

Press reviews: “Infantino's Trumpian chatter is a chaotic start to the World Cup” +++ Shakira and Burna Boy top act at the opening ceremony in the evening in Mexico City +++ The World Cup news blog.

+++ Iran War +++: US military ends new wave of attacks against Iran - Tehran reports closure of Hormuz

Saudi Arabia ends import ban from Lebanon +++ India appoints US envoy +++ Iran: Revolutionary Guards attack US base in Gulf states and Jordan +++ The news blog.

Singapore charges 3 men over US$18 million fake country of origin mattress scam

Three men were charged on Thursday for their alleged involvement in a scheme to falsely declare China-made mattresses as Singapore goods in an apparent attempt to evade US import duties. Singaporeans Loh Yew Kong, 68; Leong Yu Fong, 41; and Loh Chen Sing Darren, 37, as well as three companies – Brighture Et Riche, Brighture Et Riche (Int) and Zenova International – were charged in connection with the alleged scheme, Singapore Customs said. Authorities commenced investigations in February last...

Uber survey finds 90% of passengers deem 10,000-permit cap ‘very insufficient’

The vast majority of Uber passengers consider the government’s plan to cap ride-hailing vehicle permits at 10,000 “very insufficient”, according to a survey by the firm, as the company attempts to challenge elements of the proposed regulatory regime. The US-based ride-hailing firm said on Thursday that the survey, conducted last month over six days, drew 10,009 passenger respondents, 90 per cent of whom considered the 10,000-permit cap “very insufficient”. The survey, which also gathered...

Comment: Donald Trump squanders the economic boom of the World Cup with three own goals

The tournament is intended to become the US President's economic policy stage. But his policies are undermining the very billion-dollar business he hopes for.

Attack on the Cotswolds: Where super-rich Americans go house hunting

US millionaires and celebrities are buying into the supposed idyll of the English Cotswolds. But they turn out to be less paradisiacal than expected.

6 arrested as Hong Kong customs seizes HK$156 million in fake World Cup goods

Hong Kong customs has arrested six people over the alleged smuggling and online sale of counterfeit Fifa World Cup merchandise, with an estimated market value of HK$156 million (US$20 million). The Customs and Excise Department said on Thursday it had uncovered 29 suspected smuggling cases and five online sales cases involving World Cup products in an operation code-named “Clean Sheet”. The operation, which ran from May 26 to Wednesday, led to the seizure of around 230,000 suspected counterfeit.

Nikkei, Kospi, Topix: US attacks on Iran and tech sell-off weigh on Asian stock markets

The ceasefire in the Middle East is still not holding. Investors in Japan, China and South Korea are reacting to the conflict and the sell-off in technology stocks by selling their shares.

Software company: Oracle exceeds expectations – shares fall due to financing plans

Despite high sales, the US company's debt causes mistrust among investors. The share price fell significantly as a result.

Consumer Goods: Ben & Jerry's Co-Founder: Magnum Bans Criticism of Trump

The US ice cream brand Ben & Jerry's is known for its political actions. But one of the founders is now making serious allegations against partner Magnum in a podcast.

Hong Kong’s pivot to emerging sectors secures its spot as top choice for tech firms: HKEX

Hong Kong has become the top listing choice for tech firms amid the rise of Asia in global innovation, according to Bonnie Chan Yiting, CEO of Hong Kong Exchanges and Clearing (HKEX). The comments come as the city’s capital markets maintain momentum despite recent fluctuations, with over HK$166 billion (US$21.2 billion) raised via initial public offerings (IPOs) in the first five months, and daily trading turnover averaging HK$293 billion in May, up 111 per cent and 39 per cent from one year...

+++ US customs policy +++: Trump questions trade agreements with Mexico and Canada

USA reaffirms tariff cap for EU and Japan +++ USA proposes 25 percent tariff on Brazilian imports - Lula outraged +++ Trump reduces tariffs on metal products +++ The news blog.

South Korea hits e-commerce giant Coupang with record US$409 million fine for data breach

South Korea imposed on Thursday a record US$409 million fine on e-commerce giant Coupang over a leak that exposed the data of more than 30 million customers, provoking ire from US lawmakers. The move caps a months-long probe into the country’s largest online retail platform, which is incorporated in the United States. Allegations of a massive data leak first surfaced in November, becoming an unexpected source of friction between Seoul and Washington. “We have decided to impose a total of 624.68.

Fragile countries 'want to look up' to China, US: East-Timor president

Singapore says arrest warrants for 1MDB’s Jho Low still in force despite US clemency bid

Singapore police said arrest warrants for fugitive financier Jho Low remain active, even as the Malaysian continues efforts to seek clemency from US President Donald Trump. “Warrants of arrest and Interpol red notices for both Tan Kim Loong and Low Taek Jho are still in effect,” the police said in a statement on Wednesday. Tan is a known associate of Low and is also implicated in Malaysia’s multibillion-dollar 1MDB scandal. Low is accused by US and Malaysian authorities of masterminding the 1MDB

Situation at a glance: Escalation in the Gulf: Strait of Hormuz reportedly closed

The conflict between the USA and Iran continues to escalate despite a formal ceasefire. After new US attacks, Iran declares the Strait of Hormuz closed - and reports its own attacks.

Was Xi’s stance on China-North Korea military ties also a message for US, Russia?

North Korea is gaining in strategic importance for China to counter the United States, but Pyongyang may refrain from intensifying military ties with Beijing, analysts say. During his meeting with North Korean leader Kim Jong-un on Monday, Chinese President Xi Jinping said both sides should “enhance exchanges in diplomacy, law enforcement and military affairs”, according to state news agency Xinhua. Despite pledges from both sides to strengthen strategic communications, denuclearisation of the..

Iran war: Trump accuses Iran of a particularly serious breach of the ceasefire

The conflict in the Middle East continues to escalate: After the latest attacks by the US military, Iran announced that it would close the Strait of Hormuz. A counter statement from the USA followed promptly.

BYD powers past Geely as oil shock charges up global EV demand

The global energy crisis has helped propel BYD back into pole position in China’s automotive sector, allowing it to regain ground on Geely Auto as demand for battery-powered vehicles accelerates worldwide. The Shenzhen-based electric vehicle (EV) maker, which lost its title as mainland China’s largest carmaker in the first quarter of 2026, rebounded strongly in the following two months as the US-Israel war with Iran drove up oil prices. Its overseas deliveries surged 76 per cent year on year to.