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US State Department to close consulates in Canada, Japan and Indonesia, sources say
Business

US State Department to close consulates in Canada, Japan and Indonesia, sources say

The State Department did not confirm the closures but said it was focused on ensuring that America’s diplomatic footprint was efficient The US State Department has notified Congress that it plans to close five foreign missions in a rare downsizing of America’s global diplomatic footprint, according to people familiar with the notice. In the notice sent to some congressional committees late last week, the State Department said it ‌planned to close its posts in St George’s, Grenada; Nagoya, Japan; Medan, Indonesia; Douala, Cameroon; and Winnipeg, Canada. The people familiar with the notice spoke on condition of anonymity because the notice was not public. The expected closures, which have not been previously reported, represent a rare example of the United States closing multiple foreign missions in a downsizing that is not tied to a particular geopolitical event. Early last year, during the opening months of the Trump administration, the State Department began preparations to shut down ⁠nearly a dozen foreign missions, Reuters and other media outlets reported at the time, as part of a broader push by the Republican ‌president to transform the US bureaucracy so that it is fully aligned with his “America First” agenda.

Why Chinese brokers forecast an A-share tech and chip rebound
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Why Chinese brokers forecast an A-share tech and chip rebound

As global investors pull money from South Korea, top domestic brokerages expect strong domestic fundamentals to drive fresh buying in China Leading Chinese brokerages have expressed optimism for domestic tech shares traded in August, distinguishing them from the sharp sell-off that has rattled South Korean financial markets. “The liquidity pressure in some industries remains, but the impact on some noncore AI shares has now largely subsided,” the country’s second-largest brokerage by total assets said in a note. Despite a rally over the last few days, the memory chip-heavy Korea Composite Stock Price Index (Kospi) suffered a 22 per cent monthly loss, its steepest decline since the global financial crisis. China’s CSI 300 Index also posted a 7.9 per cent fall, while the S&P 500 Index in the United States slipped 0.1 per cent, its worst July performance since 2014. In Asian trading on Monday, Kospi fell over 5 per cent, while the mainland’s CSI 300 slid 0.98 per cent and Hong Kong’s Hang Seng Index inched up 0.48 per cent.

US tech giants invited to discuss AI security tests at White House
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US tech giants invited to discuss AI security tests at White House

Meta, Anthropic among companies to review voluntary framework on Tuesday as US government seeks early access to most advanced AI models It was not clear yet whether the details of this framework would be released to the public. The White House, as well as Meta, Google, OpenAI and Anthropic, did not immediately respond to a request for comment. If the framework reflects details published in the Trump administration’s June executive order on AI, technology companies that sign on could provide designated “covered frontier models” to the federal government for testing up to 30 days before giving selected trusted partners access.

Trump accounts were closed in 2021 over money-laundering concerns, Capital One says
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Trump accounts were closed in 2021 over money-laundering concerns, Capital One says

The bank’s disclosure is tied to a lawsuit against Capital One alleging that it illegally closed Trump’s accounts for political reasons Bank accounts held by US President Donald Trump were closed by Capital One in 2021 after it flagged financial activity that had characteristics of money laundering, the bank disclosed in a court filing over the weekend. The court filing is tied to a lawsuit filed against Capital One by one of Trump’s financial holding companies soon after he was sworn into office a second time. Trump alleges that Capital One illegally closed his accounts for political reasons, following the January 6 attacks on the US Capitol. “The closures were the result of months of analysis and a careful review by Capital One’s AML team in accordance with bank policies and regulatory guidance,” the bank said in the court filing. The term “AML” is an abbreviation for anti-money-laundering. Trump has sued Capital One, as well as JPMorgan Chase, for allegedly debanking him after he left office in 2021. Debanking happens when banks shut down customer accounts because they believe they pose financial, legal or reputational risks to the banks.

‘Surprising’ how quickly China’s military is closing gap with US: analyst Lyle Goldstein
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‘Surprising’ how quickly China’s military is closing gap with US: analyst Lyle Goldstein

Lyle Goldstein is a senior fellow at the Watson Institute for International and Public Affairs at Brown University, and director of Asia engagement at the Washington think tank Defence Priorities. How do you assess the progress of the People’s Liberation Army’s modernisation drive in the past 10 years and its significance in modern military history? How do you forecast the PLA’s position in 2027, which it set forth as one of three vaguely defined modernisation benchmark years? My view is that...

UN experts urge Canada to protect Sikh activist facing threats to life
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UN experts urge Canada to protect Sikh activist facing threats to life

Rights monitors press Ottawa over alleged foreign intimidation targeting Moninder Singh United Nations rights experts have urged Canada to take all feasible measures to protect the Sikh activist Moninder Singh, who has been repeatedly warned by the Canadian authorities of credible threats to his life. In a letter to the Canadian government dated June 3, and made public two months later, as per regular procedure, the five UN experts raised “concerning allegations of foreign intimidation and reprisals” against Singh, a Canadian national. It recalled that since 2022, Singh has received four so-called “duty to warn” notices from the Canadian authorities about credible and imminent threats to his life. It urged Canada to “take all feasible measures at its disposal to protect Mr Moninder Singh and his family, as well as similarly situated individuals on Canadian soil.

Affordable housing a critical gap in India’s real estate boom
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Affordable housing a critical gap in India’s real estate boom

While the premium to luxury end of India’s property market is thriving, the dramatic shortage at the low-to-mid-end is coming under scrutiny Even the institutional investment market, the least liquid among the largest economies in the Asia-Pacific, has taken off. In 2024-25, transaction volumes reached nearly US$20 billion, more than double the amount recorded in 2021-22. In 2018, flats priced below 5 million rupees (US$52,000) accounted for 52 per cent of launches in India’s largest cities, according to data from Knight Frank. By the end of last year, the share stood at just 17 per cent.

China’s political and scientific elite head to Beidaihe for summer retreat season
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China’s political and scientific elite head to Beidaihe for summer retreat season

Cai Qi meets frontier researchers, urging them to play their part in Communist Party governance The report did not name those invited but did say they included specialists working at the frontiers of basic research, strategic and cutting-edge technologies and core technologies in key fields, as well as academics in philosophy and the social sciences. Cai, who ranks fifth in the ruling Communist Party’s hierarchy, is a member of the Politburo Standing Committee and director of the party’s General Office. The Xinhua report said that at the meeting he stressed the strategic importance of “talent” in party governance. This year is the start of China’s 15th five-year plan and Cai called on the researchers to advance the scientific spirit, strive for breakthroughs in their fields, and make greater contributions to “securing decisive progress in basically realising socialist modernisation”.

The AI talent war: tech giants court researchers years ahead of graduation
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The AI talent war: tech giants court researchers years ahead of graduation

China’s tech giants are luring fresh AI graduates by offering salaries that are 16 times the national average Doctoral researcher Hu Qi still has about two years left in his programme at the University of Hong Kong, but headhunters are already reaching out to pitch specific jobs and ask when he will graduate. Hu, who specialises in artificial intelligence agent security, is currently interning at a Chinese tech giant where his team leaders regularly ask about his post-graduation plans, urging him to sign on full-time the moment he finishes his degree. His experience reflects a growing sense of urgency across the fast-moving AI sector. With top-level research talent in short supply, tech employers are keen to lock down candidates earlier than ever. “Companies that wait until graduation to find out who the best graduates are, they’ve already lost,” said Vahid Haghzare, managing director of Silicon Valley Associates Recruitment, a technology recruitment agency in Asia and the Middle East. Recruiters sometimes reached out to prospects up to three and four years before they finished school, while tech firms hosted a variety of conferences and seminars to make early contact, he said.

Trump election claims debunked, US critical minerals fears: 7 US-China relations reads
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Trump election claims debunked, US critical minerals fears: 7 US-China relations reads

We have selected seven of the most interesting and important news stories covering US-China relations from the past few weeks. If you would like to see more of our reporting, please consider subscribing. 1. Liberation Day 2.0? US slaps fresh wave of tariffs on China, 50-plus economies On June 24, the United States imposed a fresh wave of tariffs against 60 economies, including China, Japan, South Korea, India and European Union member states, hours before a temporary 10 per cent blanket levy...

Will Philippines’ push for seabed rights derail South China Sea code talks?
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Will Philippines’ push for seabed rights derail South China Sea code talks?

Analysts say Manila’s move could make it harder for Asean to agree on a common position regarding the code of conduct On July 28, Manila delivered an official presentation of its partial submission on its extended continental shelf in waters the Philippines considered its territory to the UN Commission on the Limits of the Continental Shelf, the Department of Foreign Affairs (DFA) said on Wednesday. In a statement, Rogelio Villanueva Jnr, DFA assistant secretary and spokesman for maritime affairs, said the submission “was a demonstration of the Philippines’ steadfast commitment to the United Nations Charter” and the 1982 UN Convention on the Law of the Sea (Unclos). Article 76 of the convention provides the basis for coastal states such as the Philippines to establish the outer limits of their continental shelf, including the seabed and subsoil of submarine areas extending beyond 200 nautical miles (370km) but not more than 350 nautical miles from their baselines. Such submissions concern seabed and subsoil rights rather than sovereignty over disputed islands or waters, and the UN commission’s role is to assess the scientific and technical basis of a claim before making recommendations.

Woman missing for 11 days found alive on hillside near Hong Kong cemetery
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Woman missing for 11 days found alive on hillside near Hong Kong cemetery

Police say nearly two-week search for Ngan Lai‑ching hampered by typhoon and days of heavy rain Hong Kong authorities have found a 60-year-old woman on a hillside near a cemetery nearly two weeks after she went missing, despite the search being hampered by a typhoon and days of heavy rain. Police said on Monday that Ngan Lai‑ching left her home at Kwong Ming Court in Tseung Kwan O on the morning of July 24 without a mobile phone or an Octopus card. Ngan’s daughter reported her missing after she failed to return home the following day, and the police classified her as a high-risk missing person. Rescuers used police security camera footage to narrow the search to hills near the Tseung Kwan O Chinese Permanent Cemetery, about 3km (1.86 miles) south of her home. Civil Aid Service personnel discovered one of her shoes at about 11.30am on Monday, with the other found 10 metres further up a hill.