Hong Kong firms face profit squeeze as US importers cut orders amid oil crisis
City’s business leaders also say government should bolster ties with Central Asia and Asean nations to diversify market risks
· Kevin Li
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Newest first · UTC+11:00International capital flowing to China as investors seek certainty during Iranian conflict
Conflict in the Middle East and growing global turbulence following US-Israeli strikes against Iran has seen foreign investors look to China
· Sylvia Ma
BIS executive committee member tapped as Bank of Korea governor
President Lee Jae Myung tapped Shin Hyun-song, an executive committee member of the Bank for International Settlements, as the new governor of the Bank of Korea, Cheong Wa Dae announced Sunday.
· Son Ji-hyoung
Rail union calls for free public transport as fuel crisis continues
The main transport workers' union in NSW has called on the state government to scrap fares on public transport as more people ditch cars due to the rising cost of petrol.With diesel reaching above $3 a litre in some parts of the country, and unleaded not too far behind, more people are using public transport to comm…
· Patrick Brischetto
End of treasury stock? Korea Inc. faces new rules, new risks
Samsung, SK, Hyundai Motor and LG lead trillion-won share cancellations as new law boosts returns but weakens takeover defenses
· Ahn Sung-mi
HSBC vows to keep investing in China amid global tensions as new trade corridors emerge
HSBC’s CEO said financial institutions needed to ‘keep up’ with the rapid expansion of Chinese companies on their journey to ‘go global’
· Themis Qi
Finance chief urges Hong Kong to enhance global standing amid shifting geopolitics
Paul Chan calls on the city to ‘seize the moment’ by deepening integration with mainland China and expanding its bridge role to the West
· Edith Lin
‘The stakes are enormous’: how a prolonged Iran war could shock the global economy
Donald Trump’s ‘little excursion’ is likely to have long-term effects, from oil prices to inflation to growth, say experts
Kospi’s blistering rally fuels bubble concerns as volatility spikes
Retail-driven surge, sharp market swings raise risks, though valuations remain below long-term averages
· Im Eun-byel
Samsung chief heads to Beijing forum for second year
Samsung Electronics Chairman Lee Jae-yong visited Beijing on Sunday to attend a high-level economic forum for a second straight year, as the company seeks to maintain ties in the key market amid rising US-China tensions.
· Jo He-rim
US-Israel war on Iran wipes $53 billion from global airline values
The world’s largest airlines have lost about $53 billion in market value since the US-Israel war against Iran began, the Financial Times reported.
· Middleeasteye
Casualties as Israeli settlers set fire to homes and cars in West Bank
Israeli settlers burn Palestinian homes and vehicles in the occupied West Bank
· Al Jazeera
Hana Financial launches youth support initiative ‘Youth Bridge’
Hana Financial Group said Sunday it has signed a four-way agreement with the Federation of Korean Industries, the Korea Youth Counseling & Welfare Institute and the Korean Educational Broadcasting System to launch a social contribution project, “Youth Bridge.”
· Lee Han-gyoul
Nonprofits, unions and airports feed TSA officers as shutdown drags
TSA agents are facing financial pressures during an ongoing government funding lapse — the third shutdown in fewer than six months that has forced the officers who screen airport passengers and luggage to keep working without pay. At least two airports have set up gift card donation boxes to help out.
· Gabriela Aoun Angueira
SK On eyes US ESS deals as data center demand surges
SK On is in talks with multiple North American clients to supply more than 10 gigawatt-hours of energy storage system batteries, as it ramps up its presence in the fast-growing market.
· Byun Hye-jin
Premier Li Qiang calls for a global pledge to open up, while ‘power politics’ runs rampant
Li’s opening address to China Development Forum indirectly rebukes US as he states protectionism is no ‘panacea’ for solving problems
· Ji Siqi
Emerging Market edges Pavlovian at the Louisiana Derby to earn a likely spot in the Kentucky Derby.
NEW ORLEANS (AP) — Emerging Market galloped around the outside of four horses during the final three furlongs to win the $1 million Louisiana Derby by a head over Pavlovian on Saturday, earning the Chad Brown-trained horse enough Kentucky Derby qualifying points to enter the opening race of the Triple Crown.
How China’s traditional powerhouses are handling its economic transformation
AdvertisementAdvertisementNEWSCMP Economy SeriesHow China’s traditional powerhouses are handling its economic transformationAs China undergoes a sweeping economic transition, its powerhouses of yesteryear must adapt or risk falling behind, as traditional industries become less reliable growth drivers. In this series…
· SCMP Staff
AI, flying cars drive economic transition in China’s Kunshan
City at heart of Yangtze River Delta region sees new tech dreams emerge as old ones based on mass production of electronics fade
· Ann Cao
Far North Queensland takes stock of cyclone damage as clean-up begins
Crews in the town of Lockhart River spent much of Saturday cleaning up. (Supplied: Wayne Butcher)
· Katrina Beavan
Brisbane’s ‘big bunch-up’: New report flags end of suburban sprawl
The Brisbane backyard will be squeezed out as suburban neighbourhoods become more contained and the city finally sheds its sleepy tag to become a true 24-hour economy.
· Cameron Atfield
The Iran crisis is hurting Australians’ hip pockets and driving inflation. It’s time for a windfall fossil fuel tax | Zoe Daniel
The political and economic fallout from the Iran war provides an opportunity for the Albanese government to finally get with the program
· Zoe Daniel
Aussie home of King Charles’ polo coach hits the market for $11.5m
Sky Farm, the home of the late Australian polo legend Sinclair Hill and his wife, Wendy, near Nowra, has hit the market with a price guide of $11.5 million to $12.5 million.
· Kristy Johnson
Dave Ramsey warns young hopefuls locked out of housing market: ‘Corporate America has screwed you’
Young Americans are increasingly finding themselves shut out of the housing market as rising debt levels and lingering affordability pressures reshape the path to homeownership.
· Fox Business
Hochul finally admits economy-killing ‘climate’ law is toxic for NY — she should end it
Gov. Kathy Hochul is finally admitting that the “climate” law she’s long supported is toxic to New York’s economy and to “affordability” — but she only wants to delay the death sentence.
· Post Editorial Board
DC powerbrokers float making Cuba a US territory as economy teeters
Canada may have some competition becoming the 51st state.
· Geoff Earle
Elon Musk misled shareholders in effort to drive down Twitter stock price, jury finds
A jury has found Elon Musk liable for defrauding investors by deliberately driving down Twitter's stock price in the tumultuous months leading up to his 2022 acquisition of the social media company for $44 billion. But it absolved him of some fraud allegations, finding that he did not "scheme" to mislead investors.
· AfricaNews
A new threat to global shipping as Yemen's Houthis threaten to close vital Bab el-Mandeb Strait
A new looming threat to international shipping and the global economy.
· AfricaNews
Flying start for low-altitude economy goals as 100 drone projects proposed
Some pilot projects are set to launch in the first half of the year, transport chief Mable Chan says
· Ng Kang-chung
Rappler Talk: Filipino Navy staff admits to spying for Chinese
MANILA, Philippines – Lawrence (not his real name) was recruited into what Filipino security officials say was an espionage scheme by Chinese nationals — one that targeted young government workers with financial needs and access to sensitive security information.
· jcgotinga0208
Labubu, Blackpink’s Jennie draw thousands to ComplexCon in Hong Kong
‘Our city’s distinctive arts and culture DNA makes it the perfect home for this global convergence of style, trainers, music,’ tourism chief Rosanna Law says
· Theodora Yu
Hong Kong to issue weekly updates on fuel price changes from April 1
Environment minister says policy aims to allow public to monitor oil price changes more accurately
· Olga Wong
Philippine fuel prices hit record highs as food inflation fears grow
With diesel in the triple digits amid the Iran war, Filipinos brace for a domino effect on rice, electricity and basic household necessities
· Sam Beltran
Will Hong Kong’s ‘regulatory clarity’ on crypto forge a path to global hub status?
With its regulatory clarity and superconnector edge, the city is drawing global crypto firms as it emerges as a premier Web3 hub
· Eunice Xu
Airfares rise in China and beyond amid Gulf oil shock, with 9% increases feared
Surging jet fuel prices are pushing airlines – including several Chinese carriers – to raise fares, with a warning of 9 per cent price rises
· Ralph Jennings
Japanese executives absent from China’s key annual summit amid diplomatic tension: sources
Nearly 80 executives from foreign firms, with those from the US making up the largest group, will attend the two-day forum
· Ji Siqi
Should Hong Kong’s stock exchange make all IPO applications confidential?
Proposed rule change aims to encourage more applications, but what about transparency and document quality concerns?
· Enoch Yiu
US approves sale of Iranian oil at sea in move to ease crude supply crisis
The US says the move will bring 140 million barrels of oil to markets, even as Iran says it has no surplus crude to sell globally
· Agence France-Presse
Musk responsible for Twitter investors’ stock dropping when he bought company, jury rules
California jurors hand win to investors who sued billionaire saying he publicly disparaged social media platform in 2022
· Dara Kerr
US lifts sanctions on Iranian oil at sea in bid to ease supply pressures
Treasury secretary Scott Bessent says move will bring 140m barrels to market but insists Tehran will not benefit
· Guardian staff and agencies
Hong Kong’s ‘ghost oil’ stations rake in ‘HK$10,000 a day’ as petrol prices soar
Operators are smuggling untaxed petrol into Hong Kong and selling it to car owners via coded WhatsApp messages
· Jess Ma
New clause in WNBA CBA will include massive salary bumps for young stars — including Caitlin Clark
Fever guard Caitlin Clark and other stars under rookie-scale contracts are due for major paydays even without hitting the free agency market.
· Andrew Battifarano
Global Talent Summit Week affirms Hong Kong’s push for diversity, innovation
The event helps showcase the progress made on attracting talented professionals to the city as it evolves beyond its financial centre role
· SCMP Editorial
How major US stock indexes fared Friday 3/20/2026
Another climb for oil prices sent the U.S. stock market sharply lower, as hopes collapsed for a possible cut to interest rates by the Federal Reserve.
· The Associated Press
Brazil’s finance minister Fernando Haddad resigns to run for Sao Paulo governor
Brazilian President Luiz Inacio Lula da Silva, left, and outgoing Finance Minister Fernando Haddad shake hands during a ceremony announcing Haddad’s candidacy for governor of Sao Paulo state in the October elections, in Sao Bernardo do Campo, Brazil, Thursday, March 19, 2026. (AP Photo/Andre Penner)
· El Onore Hughes
15M US senior homeowners have no children to leave their house to — but don’t expect a ‘silver tsunami’
A massive pool of US housing wealth is heading toward an uncertain future, and it could quietly reshape the market along the way.
· Mary K. Jacob
Higher interest rates, higher inflation and higher petrol prices: Jim Chalmers’ nightmare scenario is here
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· Shane Wright