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Thailand scraps 25-year-old agreement with Cambodia on joint energy exploration

Cambodia ‌will now initiate a compulsory conciliation ‌mechanism under the ⁠UN Convention on the ‌Law of the ‌Sea “Cancelling the deal is not related to the border conflict with Cambodia, but ‌part of my policy. It has been 25 years and there has been no progress,” Anutin told reporters, adding that Cambodia would be informed of the decision. Cambodia’s Foreign Minister Prak Sokhonn expressed ‌regret over the termination and said Phnom Penh “has no option” but to settle the boundary issue under processes outlined ⁠in the United Nations Convention ⁠on the Law of the Sea, or Unclos. “Cambodia’s decision to pursue compulsory conciliation under Unclos reaffirms its commitment to resolving maritime disputes peacefully and in accordance ‌with international law,” he said in a statement.

May 6, 2026

Business

Education Bureau steps in after Hong Kong school’s phone ban sparks backlash

Students at Kwun Tong Maryknoll College protest stricter phone rules imposing demerits and confiscation Hong Kong education authorities have contacted a school after its newly tightened rules and penalties on mobile phone use triggered an outcry among students. Under the new measures, due to take effect in the coming weeks, Form Three and Four students at the boys’ school Kwun Tong Maryknoll College will be banned from using mobile phones on campus, with devices stored in lockers and accessible only during designated time slots. The rules also stipulate that no other items may be kept in the lockers, and playing mobile games at the school entrance is prohibited. “Violators will receive four demerits each time. The school will conduct regular inspections, if a phone is found on a student, it will be considered a violation and the phone will be confiscated,” it said. Form Three and Four students were reportedly targeted because they accounted for more breaches related to mobile phone use on campus. The school said the measures aim to “promote student self-discipline, reduce classroom distractions, and lower the risk of mobile phone loss and theft”.

May 6, 2026

Business

Ex-Hong Kong police inspector with HK$2 million debt jailed for lying to colleagues

Tang Chun-ho, 45, falsely claimed a bank was pursuing him over a loan, borrowing HK$130,000 from a colleague A former senior Hong Kong police inspector has been jailed for six weeks after lying to colleagues to borrow HK$140,000 (US$17,871), as he struggled with debts exceeding HK$2 million. Kwun Tong Court on Tuesday sentenced Tang Chun-ho, 45, after finding him guilty of making false claims to secure loans from colleagues in 2023. Magistrate Lau Suk-han said the defendant had shown no remorse. “The court has already rejected [the defendant’s defence], yet he repeated it in the background report, which indicates a lack of remorse,” Lau said. Tang was found guilty of falsely claiming to a colleague in November 2023 that a bank was pursuing him over a loan. He borrowed a total of HK$130,000 from the colleague. Two months later, he told a subordinate that his father was in critical condition and asked to borrow HK$10,000 to cover medical expenses. Tang, formerly a commander in Sai Kung district, was charged by the Independent Commission Against Corruption with one count of fraud and one count of a prescribed officer accepting an advantage.

May 6, 2026

Business

America builds AI, China uses it. That gap may decide the future

The US still leads in AI development but lags in large-scale deployment behind China, which is rapidly becoming the leader in implementation This difference is not primarily about technological capability. It is about implementation. Economists have seen this pattern before. During the electrification of manufacturing, factories that simply replaced steam engines with electric motors saw little productivity improvement. Real gains only came when companies reorganised entire production systems around electricity – a dynamic often associated with economist Robert Solow and later expanded by Erik Brynjolfsson in the context of digital transformation.

May 6, 2026

Business

Hong Kong home sales surge to 2-year high, boosting overall transactions

A total of 8,692 transactions in all sectors were concluded last month, up 12.3 per cent from March’s 7,737 deals A total of 8,692 transactions across homes, offices, shops, car parking spots and industrial spaces were concluded last month, up 12.3 per cent from March’s 7,737 deals, according to data released on Tuesday by the Land Registry. The total sales value rose 17 per cent to about HK$72.9 billion (US$9.3 billion). Sales of new and second-hand residential units climbed 16.7 per cent month on month to 7,368 in April, the highest since April 2024 when 8,551 units were sold, the data showed. The sales value in April increased about 15.4 per cent over March to HK$63.67 billion. “The number of new home sales registrations has rebounded significantly, coupled with stable performance in the secondary market and commercial and industrial properties, resulting in a continued boom in the market,” said Derek Chan Hoi-chiu, head of research at Ricacorp Properties. A steady recovery in the city’s residential market was spurring a wider recovery for the city’s office and retail segments, according to Morgan Stanley.

May 6, 2026

Business

HSBC profit flat as Middle East provisions offset wealth growth

Credit impairment charges rose 44 per cent to US$1.3 billion, driven by provisions linked to the Middle East conflict and UK fraud exposure HSBC, Hong Kong’s largest lender, reported broadly flat first-quarter profit as lower interest rates and provisions linked to the Middle East conflict offset solid growth in its wealth management business. Net profit for the first three months of 2026 rose 0.14 per cent year on year to US$6.94 billion, or 41 US cents per share, the London-based bank said in a Hong Kong stock exchange filing on Tuesday. The result missed the US$7.07 billion consensus estimate of 17 analysts polled by the bank. Pre-tax profit fell 1 per cent to US$9.38 billion, also below the consensus forecast of US$9.59 billion. The bank recorded US$1.3 billion in credit impairment charges during the quarter, up 44 per cent from a year earlier. This included a precautionary provision of US$300 million to reflect uncertainty related to the Middle East conflict, as well as US$400 million tied to fraud-related, secondary securitisation exposure involving a UK financial sponsor.

May 6, 2026

Business

Sea robbery fears stalk Singapore and Malaysia’s busiest waterways

Opportunistic nighttime raids in the Straits of Malacca and Singapore are testing security in a vital maritime chokepoint The crew managed to raise the alarm in time and thankfully no one was hurt. But by the time the vessel was searched the intruders were gone, vanished back into the water with a clutch of spare engine parts in tow. The nighttime raid on the Taipan was the latest in a steady drumbeat of low-level robberies along one of the world’s most consequential shipping corridors: a narrow, reef-strewn passage through which an estimated 70 per cent of Asia’s oil imports flow, alongside trillions of dollars in annual cargo. Analysts are careful to stress that the attacks are not signs of a looming security collapse. But they are a symptom of nagging vulnerabilities in a globally important shipping chokepoint.

May 6, 2026

Business

Indonesia caps ride-hailing commission fees at 8% in ‘radical correction’ of sector

The new commission scheme shows the state’s support for ride-hailing drivers, but may not necessarily boost their incomes, observers say The move could mark a significant shift in one of Southeast Asia’s biggest on-demand economies, where millions of drivers for platforms such as Gojek and Grab have become a highly visible labour force and, analysts say, a potent political bloc. Last week, Prabowo announced a presidential decree that would lower the commission fees ride-hailing companies charge drivers for each order, from 20 per cent to 8 per cent. Drivers would also get universal healthcare and work accident insurance, he said. “It’s not right that you [drivers] are the ones sweating, but they [the companies] are getting the money. Sorry, if they [the companies] don’t want to comply, don’t bother doing business in Indonesia,” Prabowo said in front of drivers during a May Day rally in Jakarta on Friday.

May 6, 2026

Business

China stray dog becomes local hero after car crash, 56 cabbies cover medical costs, aid in recovery

‘Friendly’ canine who became taxi drivers’ best friend suffers multiple fractures; plight sparks online calls to build dog a safe play area A stray dog in central China has gone viral after a group of taxi drivers raised money for his surgery following a car accident. At the high speed rail station in Xuancheng, Anhui province, a yellow dog became a beloved figure among the local cabbies. Lively, friendly and always eager to run, the dog quickly warmed his way into the drivers’ hearts. Last summer, driver Zhang encountered the dog and was moved by his gentle nature. From that day, Zhang and his fellow drivers began bringing food and spending their breaks playing with the dog. They affectionately named him “Stationmaster Huang” as a tribute to the comfort he brought during their long, tiring shifts.

May 6, 2026

Business

Chasing L5: WeRide CEO sees ‘ChatGPT moment’ in driverless cars within 10 years

The global commercial robotaxi fleet was estimated to be 7,000 vehicles in 2025, and is expected to surge to about 6 million by 2035 WeRide boss Tony Han Xu believes the first fully autonomous cars may arrive on streets by 2035, as global carmakers and tech firms accelerate the application of self-driving technologies despite roadblocks. A vehicle capable of full automation is known as Level 5 (L5), according to a set of standards published by SAE International in 2014. Referring to L5 as “Super Drive”, Han, co-founder, chairman and CEO of WeRide, said its reality was not far off. “I think within 10 years, we will achieve ‘Super Drive’,” Han said in an interview with the South China Morning Post. “That means a car can drive anywhere better than a human being.” There are six automation levels, ranging from L0 where the car is completely controlled by a driver, to L5 where a vehicle can operate anytime, anywhere and under any weather without human intervention.

May 6, 2026

Business

Can South Korea’s most advanced fighter, the KF-21, compete with China, the US and Europe?

Recent roll-out puts South Korea in elite group of countries capable of indigenously developing advanced supersonic combat aircraft The roll-out marked the start of mass production for the 4.5-generation fighter, with an initial 40 Block I units to be completed for the South Korean Air Force by 2028. According to Bence Nemeth, a senior lecturer in defence studies at King’s College London and executive director of the King’s Centre for Defence Economics and Management, the KF-21 could be competitive in overseas exports but entered the market “late and in a crowded field”. Nemeth said South Korea’s advantages were likely to be its cost, quality, delivery speed and willingness to offer industrial cooperation. But he added that procuring fighters was also about political alignment and wartime supply chain reliability. “The KF-21 will therefore need aggressive marketing and credible long-term sustainment guarantees,” Nemeth argued.

May 6, 2026

Business

EcoCeres to invest HK$10 billion in sustainable aviation fuel plants in Greater Bay Area

Sustainable aviation fuel plants backed by tycoon Peter Lee’s family office hailed by Hong Kong leader as ‘milestone’ cross-border collaboration A biofuel company backed by the family office of tycoon Peter Lee Ka-kit will invest HK$10 billion (US$1.3 billion) in sustainable aviation fuel (SAF) production plants in the Greater Bay Area, a project that Hong Kong’s leader has hailed as a “milestone” collaboration between the city and mainland China. Chief Executive John Lee Ka-chiu said the venture represented joint efforts by the Hong Kong and Dongguan governments to align with Beijing’s 15th five-year development plan between 2026 and 2030. He described it as “a milestone” and “an excellent example of synergy of the two places”. “Hong Kong brings global finance, professional services and research capabilities. Dongguan brings mature chemical industry parks, logistics and a steady supply of used cooking oil – the essential raw material for SAF,” the city leader said. “Together, we form a powerful combination.” SAF is a renewable fuel produced from waste materials such as used cooking oil and agricultural waste that reduces life cycle emissions by up to 80 per cent compared with conventional fuel.

May 6, 2026