Trump announces 3-day ceasefire between Russia and Ukraine
Business

Trump announces 3-day ceasefire between Russia and Ukraine

US president says ceasefire will include suspension of all ‘kinetic activity’ and an exchange of prisoners “I am pleased to announce that there will be a THREE DAY CEASEFIRE (May 9th, 10th, and 11th) in the War between Russia and Ukraine,” Trump posted on social media. “The Celebration in Russia is for Victory Day, but likewise in Ukraine, because they were also a big part and factor of World War II.” The pause in fighting will take place over Victory Day in Russia, celebrated on May 9, which commemorates the Soviet Union’s defeat of Nazi Germany in World War II. Trump claimed the ceasefire request was made directly by him, adding that he appreciated “its agreement by President Vladimir Putin and President Volodymyr Zelenskyy” in the post. “Hopefully, it is the beginning of the end of a very long, deadly and hard fought War.”

May 8, 2026
Trump trade chief says US wants balanced trade, not change to China’s system
Business

Trump trade chief says US wants balanced trade, not change to China’s system

US Trade Representative Jamieson Greer wants key meeting in Beijing to help ‘achieve more balance’ economically between the two countries “I think there’s not really a situation where we go and get China to change the way they govern, the way they manage their economy, that’s all baked into their system. But I think there is a world where we find out where we can optimise trade between China and the US to achieve more balance.” “We think we can have a conversation with China about bottom line outcomes, how much can we be shipping to them, how much should they ship to us, [and] what kind of goods should those be,” he added. Trump threatens to delay China visit if Beijing does not send ships to help secure Hormuz

May 8, 2026
US to host new Israel-Lebanon talks as Trump team presses for Hezbollah disarmament
Business

US to host new Israel-Lebanon talks as Trump team presses for Hezbollah disarmament

Marco Rubio says Washington is also awaiting Iran’s response to a new US proposal to end the conflict in the region In the statement, the US said Israeli and Lebanese delegations would engage in “detailed discussions” aimed at advancing “a comprehensive peace and security agreement” addressing the core concerns of both countries. Washington framed the effort as a break from what it called the “failed approach of the past two decades”, accusing militant groups of exploiting instability in southern Lebanon to weaken the Lebanese state and threaten Israel’s northern border. The discussions are expected to focus on security arrangements, border delineation, the restoration of Lebanese state authority and pathways for humanitarian relief and reconstruction in Lebanon, according to the statement.

May 8, 2026
New suspected hantavirus cases found in Spain and remote Tristan da Cunha
Business

New suspected hantavirus cases found in Spain and remote Tristan da Cunha

The latest patient had briefly sat on a plane behind a Dutch woman who contracted the disease on the MV Hondius Two new suspected cases of hantavirus were ⁠reported on Friday, one in Spain and the other on the remote South Atlantic island of Tristan da Cunha, as experts race to contain an outbreak that began on a luxury cruise ship. The announcements in locations thousands of kilometres apart will fuel concern about a cluster of cases so far associated with three deaths – though the World Health Organization has repeatedly said the risk to the wider public is low and the virus does not transmit easily. A 32-year-old woman in the southeastern Spanish province of Alicante has symptoms consistent with a hantavirus infection and is being tested, Spanish health authorities said. She ‌was briefly sitting on a plane behind a Dutch woman who had contracted the virus on the MV Hondius, Secretary of State for Health Javier Padilla told reporters. That Dutch woman left the flight in Johannesburg feeling ill before it took off on April 25 and later died in hospital. A British man was also suspected of having the disease on Tristan da Cunha, the UK Health Security Agency said.

May 8, 2026 · 2 dk okuma
Trust is key if China’s international arbitration goals are to succeed, experts say
Business

Trust is key if China’s international arbitration goals are to succeed, experts say

China’s newly revised Arbitration Law marks the most significant overhaul of the country’s commercial dispute framework since 1994 But a harder question for Beijing is not the amount of energy or resources poured in, but whether foreign parties, particularly Western ones, will actually choose mainland China as a seat, according to arbitrators and legal scholars. “An international arbitration centre should be a place that everyone chooses as a base for arbitration, even if it has no connection to their country,” said Tao Jingzhou, an independent arbitrator at Arbitration Chambers and one of China’s earliest international arbitrators. Beijing and Manila trade blame over ‘provocative’ moves with ship collisions near disputed shoal Beijing’s drive to grow its arbitration capacity reflects more than a desire to attract a slice of a high-value professional services market.

May 8, 2026
Hong Kong secures US$3.5 billion to fund Northern Metropolis and green projects
Business

Hong Kong secures US$3.5 billion to fund Northern Metropolis and green projects

Global investors pile into city’s latest bond sale, with orders 8.6 times oversubscribed, backing its green finance ambitions Hong Kong has raised HK$27.6 billion (US$3.5 billion) through a green and infrastructure bond sale to finance the Northern Metropolis and low-carbon transformation projects. The offering drew investors from more than 30 markets across Asia, Europe, the Middle East and the Americas, signalling global institutional investors’ confidence in Hong Kong’s development, the Hong Kong Monetary Authority said in a statement on Friday. Orders totalled about HK$239 billion, 8.6 times the offer size. The issuance “raises capital for key infrastructure projects, including the Northern Metropolis, thereby easing early project completion for the good of the economy and people’s livelihood,” said Financial Secretary Paul Chan Mo-po in the statement.

May 8, 2026
SCMP takes home 3 honours from Global Media Awards, including win for infographic
Business

SCMP takes home 3 honours from Global Media Awards, including win for infographic

International News Media Association’s awards event gave SCMP graphic on deadly Tai Po fire first place for best use of visual journalism The South China Morning Post has taken home three honours at the International News Media Association’s 2026 Global Media Awards, with its infographic on Hong Kong’s deadly Tai Po fire winning first place for the best use of visual journalism. The awards were announced and presented in Berlin on Thursday, with the SCMP being the only Hong Kong media outlet recognised at the prestigious annual competition. This year’s awards event, which had 20 categories, drew a record 960 entries from 274 media outlets in 46 countries. It illustrated how the fire broke out last November and explained why it spread with such unusual speed, killing 168 people and displacing nearly 5,000 residents. The SCMP’s special print supplement in the aftermath of the Tai Po fire, “From Ashes, Strength”, received an honourable mention in the “Best Use of Print” category for national brands. The publication mourned the victims who lost their lives in the fire while showcasing the extraordinary stories of the ordinary heroes in the tragedy.

May 8, 2026
Asean to step up push for South China Sea code, energy security
Business

Asean to step up push for South China Sea code, energy security

Philippine President Ferdinand Marcos Jnr says the code of conduct is key to unlocking deeper China-Asean economic cooperation “We cannot institutionalise any of those things until the code of conduct is finalised,” he told a press conference on Friday at the close of the 48th Asean summit in Cebu, when asked about aspects that held the most potential in relations between the bloc and Beijing. He stressed that the move was difficult because Asean member states had different approaches when it came to Beijing. “We have to incorporate all of that into one single document, which is the code of conduct, so once we have that, then all those questions will be answered,” he said.

May 8, 2026
US adds 115,000 jobs in April, but experts warn of hidden weakness in economy
Business

US adds 115,000 jobs in April, but experts warn of hidden weakness in economy

The gains mainly came in the healthcare, transport and warehousing and retail trade sectors US employment rose more than expected in April, while the unemployment rate remained steady, government data showed, with the world’s largest economy firming recent labour market gains but analysts warning of underlying weakness. “Total nonfarm payroll employment edged up by 115,000 in April, and the unemployment rate was unchanged at 4.3 per cent,” the US Bureau of Labour Statistics (BLS) said. The gains mainly came in the healthcare, transport and warehousing and retail trade sectors. US job growth has been see-sawing between expansion and contraction for the last year, sparking concerns about the health of the labour market and economic growth more generally. Nonetheless, the figure is likely to reassure Federal Reserve officials that they can hold interest rates steady for now, as surging energy costs due to the Iran war fan inflation fears. Friday’s data beat analyst expectations, with economists polled by Dow Jones Newswires and The Wall Street Journal expecting growth of 55,000.

May 8, 2026
Chinese EV maker Leapmotor taps Stellantis’ Spanish plant for EU production
Markets

Chinese EV maker Leapmotor taps Stellantis’ Spanish plant for EU production

Hangzhou carmaker’s overseas strategy highlights how Chinese brands are leveraging idle plants to scale globally while easing trade barriers The Hangzhou-based company and Stellantis, owner of Peugeot, Fiat and Jeep, would jointly build Opel’s new fully electric C-sport utility vehicles (SUVs) and B10 models at the Figueruelas plant in Zaragoza, according to a statement released by the Franco-Italian carmaker on Friday. Production was expected to start as early as this year, it added. The announcement came less than two months after Leapmotor opened its first overseas research and development hub in Munich, aimed at tailoring models to international customers. The EV maker, 21 per cent owned by Stellantis, set up a joint venture known as Leapmotor International with the European shareholder in 2023 to promote its Chinese-made cars worldwide. The venture, 49 per cent owned by Leapmotor, leverages Stellantis’ global resources to bolster sales. “Leapmotor, after achieving rapid growth on the domestic market, has reason to quicken the pace of its overseas expansion because its tie-up with Stellantis facilitates localisation of production in markets like Europe,” said Gao Shen, an independent analyst in Shanghai.

May 8, 2026
DeepSeek to soon close first external fundraising in US$50b valuation: sources
Markets

DeepSeek to soon close first external fundraising in US$50b valuation: sources

Backers include AI-focused affiliates under the third phase of the China Integrated Circuit Industry Investment Fund, sources say Chinese artificial intelligence high-flier DeepSeek is expected to close its first external financing round soon, boosting its valuation to up to US$50 billion, according to three people familiar with the matter, as the country’s marquee state-backed investment vehicle joins in bankrolling what is seen as a national technology champion. The round was being backed by a group of state-linked investors, including AI-focused affiliates under the third phase of the China Integrated Circuit Industry Investment Fund, known as the “Big Fund III”, the people said, requesting anonymity because the information is private. Global investment firm Hillhouse was also involved in the funding discussions, the people said. Shenzhen-based video gaming and social media giant Tencent Holdings took part in the round too, they added. The final valuation could still change as talks were ongoing, they said. DeepSeek, the Big Fund III, and Tencent did not immediately respond to a request for comment. A Hillhouse spokesman said the firm was not making an investment in DeepSeek.

May 8, 2026
How Nvidia’s Corning pact shines light on China’s dominant role in global fibre supply
Markets

How Nvidia’s Corning pact shines light on China’s dominant role in global fibre supply

Rising fibre prices and surging output cement China’s role as the backbone of global optical connectivity for AI “The global optical fibre and cable market had entered a period of both rising volumes and prices since the fourth quarter of 2025,” said Wang Xing, analyst at Huatai Securities, adding that China remained at the centre of global supply with its closed-loop industrial chain and scale-driven cost advantages. In 2025, China accounted for 59 per cent of global optical preform output, 57 per cent of optical fibre production and 47 per cent of optical cable output, making it the world’s largest supplier across the chain, Huatai’s data showed. Riding the trend, shares of major Chinese optical fibre makers – including Yangtze Optical Fibre and Cable Joint Stock, which is listed in Shanghai and Hong Kong, Shanghai-listed Hengtong Optic-Electric, and Shenzhen-listed Tongding Interconnection Information – have surged since late last year, with all jumping more than 200 per cent year to date.

May 8, 2026