Hong Kong should build AI plan around ‘competitive’ strengths, industry leaders say
Panel speakers at China Conference say city’s AI blueprint should not be too broad and harness urban development, healthcare and finance capabilities
· Lam Ka-sing
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Newest first · UTC+11:00Hong Kong should build AI plan around ‘competitive’ strengths, industry leaders say
Panel speakers at China Conference say city’s AI blueprint should not be too broad and harness urban development, healthcare and finance capabilities
· Lam Ka-sing
Big EU banks must set out AI risk plan, top ECB official
BRUSSELS — The EU’s biggest lenders should set out how they will tackle risks from cutting-edge artificial intelligence models by the end of October, the bloc’s top banking supervisor said today.
· Kathryn Carlson
The science of happiness, unemployment, inflation, populism and One Nation
Examine, a free weekly newsletter covering science with a sceptical, evidence-based eye, is sent every Tuesday. You’re reading an excerpt – sign up to get the whole newsletter in your inbox.
· Liam Mannix
Hong Kong yuan facility to expand 150% to US$73.6 billion to meet international demand
The city will also vet a license application for a new electronic fixed income and currency trading system
· Enoch Yiu
Hong Kong yuan facility to expand 150% to US$73.6 billion to meet international demand
The city will also vet a license application for a new electronic fixed income and currency trading system
· Enoch Yiu
China’s excavator exports surge 33% in first half as industry pivots to electric power
Earlier this year, Sany debuted a pure electric excavator with an operating range of up to 10 hours
· Frank Chen
China’s excavator exports surge 33% in first half as industry pivots to electric power
Earlier this year, Sany debuted a pure electric excavator with an operating range of up to 10 hours
· Frank Chen
On this day in Korea - July 8, 1994: North Korea leader Kim Il-sung dies
North Korean President Kim Il-sung died of heart failure at age 82, only weeks before he was scheduled to hold what would have been the first-ever inter-Korean summit with South Korea’s President Kim Young-sam. His sudden death halted a historic opportunity for dialogue at a critical moment on the Korean Peninsula. …
· Yu doo-ho
Japan's blockchain-based security tokens to open to foreign investors
SBI, Daiwa to initially tap clients in Singapore through jointly built platform
· Staff Writer
Japan's Sumitomo Mitsui Trust Bank to invest in NZ infrastructure investor
Japan's Sumitomo Mitsui Trust Bank will acquire a 15% stake in New Zealand-based infrastructure investor Morrison. (Photo by Shintaro Ino)
· Staff Writer
South Korea Strengthens Law to Curb Spread of Fake News
A new amendment to South Korea’s communications act went into effect on Tuesday, significantly increasing financial penalties for spreading false information online, in a move that lawmakers called necessary to combat fake news, but which raised concerns about free speech in a country with one of Asia’s most open me…
· Jin Yu Young
Finance minister says gov't seeks complementary measures against single-stock leveraged ETFs
SEOUL, July 7 (Yonhap) -- Finance Minister Koo Yun-cheol said Tuesday the government is considering measures to address problems arising from newly introduced single-stock leveraged exchange-traded funds (ETFs), which have been blamed for heightened volatility in the stock market.
· Kim Boram
Prospects remain uncertain for North Korean defector interpreter case during Lee's Mongolia visit
Since 2017, I have covered South Korea’s political and economic landscape as a reporter, with a focus on foreign affairs, inter-Korean relations and security.As a foreign affairs reporter, I closely follow developments from the Ministry of Unification, the Foreign Ministry and the Defense Ministry, tracking shifts i…
· Jung Min-kyung
Robinsons Retail set to leave PSE as Gokongwei group secures delisting threshold
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· lkyu0285
We Are Not Machines by Sarah O’Connor review – can dignity at work survive the tech revolution?
A Financial Times journalist ponders the future of labour in world increasingly dominated by AI and automation
· Mythili Rao
Ailing Europe declares war on sick leave as lengthy absences soar
When Friedrich Merz, the German Chancellor, unveiled a “big bang” of economic reforms last week, it was surprisingly one of the smaller initiatives which generated the biggest response.
· Hans van Leeuwen
Labor side again lowers demand for hourly minimum wage hike for next year
SEJONG, July 7 (Yonhap) -- Labor representatives on Tuesday lowered their proposal for the country's hourly minimum wage for next year to 11,500 won (US$7.53), narrowing the gap with the business side's proposal.
· Chae Yun-hwan
Japanese bond yields march toward 3% as fiscal fears escalate
Prime Minister Sanae Takaichi's expansionary fiscal plan is causing concern in the Japanese government bond market. (Photo by Akira Kodaka)
· JADA NAGUMO
Japan’s yen pain is Southeast Asia’s economic gain
Keep independent journalism alive
· Ronny P Sasmita
Samsung profit soars 19 times but shares slump 8% on oversupply worries
South Korean chipmaker plans to build more fabs to meet rising demand on AI boom
· Staff Writer
Samsung profit soars 19 times but shares slump 6.9% on oversupply worries
Samsung Electronics continues to ride the AI boom to massive profit increases but concerns are increasing over a potential glut of memory chips. © Reuters
· Staff Writer
NATO set to unveil billions in arms deals to prove its firepower to Trump
ANKARA, Turkey — NATO on Tuesday will showcase a series of new military projects worth billions of dollars in an attempt to convince US President Donald Trump that the allies are stepping up defense spending and converting investment into real firepower.
· Associated Press
S. Korea, ASEAN discuss ways to advance strategic partnership, promote regional peace
SEOUL, July 7 (Yonhap) -- Representatives of South Korea and the Association of Southeast Asian Nations (ASEAN) met Tuesday in Seoul to discuss ways to strengthen cooperation in security, economic and other areas, Seoul's foreign ministry said.
· Oh Seok-min
Zhipu AI, MiniMax shares to provide gut check for Hong Kong investors as lock-ups end
Shares worth US$11.5 billion to hit market as record wave of lock-up expirations starts and some firms eye share placements
· Zoe SL Chan
Zhipu AI, MiniMax shares to test Hong Kong market as lock-ups end
Shares worth US$11.5 billion to hit market as record wave of lock-up expirations starts and some firms eye share placements
· Zoe SL Chan
US-sanctioned 'teapot' refiner Hengli leads China petrochem profit spike
Sacks of polyester-making chemicals wait to be shipped from Hengli Petrochemical's refining complex on China's Changxing Island. © Reuters
· Staff Writer
Seoul's 24-hour FX market gets calm debut
The won-dollar exchange rate showed limited volatility in the first session of Seoul's 24-hour foreign exchange trading system, with the newly added early-morning hours passing without sharp moves.
· Choi Ji-won
Near Lebanese border, Israeli tech reshapes how premium spirits are made
Verstill, an Israeli start-up specializing in accelerated maturation technology for the spirits industry, is working to modernize one of the traditional sectors’ most time‑intensive processes.
· ANNA AHRONHEIM
Iran war latest: Shipping companies still wary about Strait of Hormuz, says DP World boss | The National
Latest updatesIran war latest: Shipping companies still wary about Strait of Hormuz, says DP World boss
· The National
Global music moguls turn to Korea for next growth engine
Jay-Z's MarcyPen launches investment venture with Hanwha as Ne-Yo expands artist business into Asia
· Kim Jae-heun
Why oil investors fear the next toll fight could be the Strait of Malacca
Iran's push for control over the Strait of Hormuz has prompted some energy market participants to worry about the introduction of tolls on the Strait of Malacca, one of the world's most important energy and trade choke points.
· Sam Meredith
Kospi plunges despite Samsung's record earnings
The South Korean benchmark Kospi slumped during intraday trading Tuesday, despite market heavyweight Samsung Electronics posting a record-high quarterly operating profit earlier in the day.
· Im Eun-byel
China’s chip equipment rally faces earnings test as memory boom fuels bets on local tools
With first-half earnings season looming, the question for semiconductor industry is whether results can justify stock rally
· Howard Liu
China’s chip equipment rally faces earnings test as memory boom fuels bets on local tools
With first-half earnings season looming, the question for semiconductor industry is whether results can justify stock rally
· Howard Liu
Fuel on the fire: why oil companies are profiting as the world gets dangerously hot
The scientific consensus is that burning fossil fuels drives the climate crisis, yet the world’s biggest oil companies are planning to increase production
· Jonathanwatts
Peak oil: China’s crude demand set to fall as EV bets ease Hormuz fears
China now faces challenge of too much refining capacity as electric vehicles, especially trucks, slash demand, CNPC officials say
· Judy Xue
Peak oil: China’s crude demand set to fall as EV bets ease Hormuz fears
China now faces challenge of too much refining capacity as electric vehicles, especially trucks, slash demand, CNPC officials say
· Judy Xue
Hyundai records fastest growth among global top 10 EV makers
Hyundai Motor Group posted the fastest growth among the world's top 10 electric vehicle makers in the first five months of the year, even as Chinese automakers continued to dominate the global market despite weakening demand at home.
· Byun Hye-jin
Global banks lift Korea growth outlook to 3% on chip exports
Major global investment banks have raised their average forecast for South Korea's economic growth this year to 3 percent, the Korea Center for International Finance said Monday, citing a semiconductor-led export boom.
· Choi Yeon-jae
Seoul, Washington, Tokyo to hold first trilateral foreign ministers' talks of year at NATO summit
Since 2017, I have covered South Korea’s political and economic landscape as a reporter, with a focus on foreign affairs, inter-Korean relations and security.As a foreign affairs reporter, I closely follow developments from the Ministry of Unification, the Foreign Ministry and the Defense Ministry, tracking shifts i…
· Jung Min-kyung
How Israeli start-ups are helping ships navigate a contested Hormuz - opinion
On June 25, the Singaporean-flagged container ship Ever Lovely was struck by an Iranian one-way attack drone as it traversed the Strait of Hormuz. Two days later, the Panamanian-flagged crude oil tanker Kiku was also hit near the Omani coast, according to reports from the United Kingdom Maritime Trade Operations (UK…
· GABRIEL AVNER
Dubai drops seven places in global ranking of costliest cities for ultra-rich | The National
Dubai has dropped seven places to rank as the 14th most expensive city in the world for the ultra-wealthy this year, driven not by any cooling of prices in the emirate but by currency swings elsewhere, a report has found.
· The National
LG Energy Solution returns to profit as ESS demand grows
Rising North American energy storage battery shipments offset persistent EV market weakness as second-half recovery gains momentum
· Byun Hye-jin
Pakistan gives foreign banks an edge in shift to Islamic finance
One currency, two banking systems. Pakistan's banks must all offer sharia-compliant services from 2028, but foreign banks will be able to continue offering non-Islamic services alongside -- giving them a possible advantage. © Reuters
· Adnan Aamir
LG Electronics beats big with record Q2
Home appliances, vehicle components and HVAC drive record sales and operating profit, comfortably beating market expectations
· Jie Ye-eun
Top diplomats of S. Korea, U.S., Japan to meet in Turkey on sidelines of NATO summit
SEOUL, July 7 (Yonhap) -- The top diplomats of South Korea, the United States and Japan plan to meet in Turkey on Tuesday for talks on North Korea-related issues, regional and global affairs and ways to strengthen trilateral security and economic cooperation, Seoul's foreign ministry said.
· Oh Seok-min
Samsung tops Nvidia with record Q2 operating profit
AI memory surge powers record W89.4 trillion operating profit, well above market expectations
· Jo He-rim
WiseTech shares rise after Richard White resigns as executive chair amid police investigation
Rise in share price adds nearly $1bn to tech giant’s market value while White continues on as a board director and chief innovation officer
· Luca Ittimani
Beloved owner of legendary, family-run NYC donut shop dies after 33 years running business
She became proprietor of the long-standing Brooklyn establishment in 1993, purchasing and running the business alongside her husband.
· David DeTurris