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Hong Kong universities snap up office and retail sites amid classroom crunch
Business

Hong Kong universities snap up office and retail sites amid classroom crunch

At least six universities have moved into offices and shopping centres as non-local enrolment rises and campuses run out of space At least six universities in Hong Kong have moved into office buildings or shopping centres over the past three years as classroom space has tightened amid rising non-local enrolment, according to the latest data. Among them is the Hong Kong University of Science and Technology (HKUST), which spent HK$345.4 million (US$44 million) in 2025 to acquire a 31,410 sq ft campus in Admiralty for its business school teaching centre. The university unveiled the centre on Tuesday on the fourth floor of United Centre, the former site of Metropol Restaurant – a Chinese teahouse known for its traditional dim sum trolleys before closing in 2024. “One of the drivers [for purchasing] is indeed more teaching spaces and also appropriate teaching spaces. We are very concerned about the student experience,” said Frederik Anseel, dean of business and management at HKUST.

July 8, 2026
South Korea loses Canada submarine deal but cements top-tier defence status
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South Korea loses Canada submarine deal but cements top-tier defence status

South Korea may have lost Canada’s multibillion-dollar submarine order, but analysts say its close-run contest with Germany has handed Seoul a different prize: proof that it can challenge one of the world’s traditional undersea warfare powers on a stage watched closely by defence buyers. Canada chose Germany’s Thyssenkrupp Marine Systems (TKMS) as the preferred bidder for a programme worth about US$40 billion to build up to 12 diesel-electric submarines, along with long-term maintenance and...

July 8, 2026
Dad who drove family off California cliff has charges dropped after mental health treatment
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Dad who drove family off California cliff has charges dropped after mental health treatment

Judge dismisses attempted murder charges and Dharmesh Patel walks free following treatment in the wake of 2023 crash All charges against a radiologist accused of trying to kill his family in 2023 by driving his car off a cliff along the Northern California coast have been dismissed by a judge following his completion of a mental health programme. A San Mateo County judge dismissed the charges on Monday after Patel completed a two-year mental health diversion programme with a Stanford University psychiatrist and a family therapist this week, San Mateo County District Attorney Steve Wagstaffe said. “The judge was required by the law to dismiss the charges,” Wagstaffe said. In 2024, a different judge ruled Patel would receive mental health treatment instead of standing trial after his defence lawyers argued he was going through episodic major depression with hallucinations when he drove his family off the cliff and qualified for mental health diversion under California law that went into effect in 2023. “If the person who’s given mental health diversion follows the treatment plan, there’s nothing that can be done and at the end of the two years he gets it wiped out of his record,” Wagstaffe said.

July 7, 2026
Barrage of explosions rocks Kyiv after Ukraine says drones attacked Russia ‘shadow fleet’
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Barrage of explosions rocks Kyiv after Ukraine says drones attacked Russia ‘shadow fleet’

Kyiv’s mayor ⁠Vitali Klitschko said ‌strikes in ⁠the ⁠attack had ‌triggered fires in ‌2 districts and warned residents to stay in shelters A series of explosions rocked Kyiv early on Wednesday as Russia keeps up its barrage of attacks on the Ukrainian capital while Nato leaders meet for a summit in Turkey. A first large blast was heard even before the city’s air alert sirens sounded, followed by four more, Agence France-Presse journalists in the city said. Kyiv Mayor Vitali Klitschko said warehouses were on fire in one district because of a missile strike, and in another a “non-residential building” was ablaze. Two ‌people were injured, with one requiring ‌treatment in hospital, Reuters reported. “The enemy is attacking the capital with ballistic missiles. Stay in shelters!” Klitschko wrote on social media. The latest onslaught comes after Russian strikes – including multiple missile hits on Kyiv – killed 30 people in Ukraine on Monday. Ukraine’s President Volodymyr Zelensky, in Ankara for the Nato summit, on Tuesday urged Ukraine’s backers to step up help for the country’s air defences as it struggles with shortages of crucial interceptors to shoot down Russian missiles.

July 7, 2026
FCC denies US firm with Chinese links approval to provide telecoms services
Business

FCC denies US firm with Chinese links approval to provide telecoms services

The Federal Communications Commission said it was adding Digitalsystem Technology to a list of firms posing risks to US national security The US Federal Communications Commission ⁠said on Tuesday it is adding California-based Digitalsystem Technology to a list of companies posing risks to US national security, citing links to Chinese telecoms firms and its ownership by a Chinese national. The FCC also said ‌it was denying the Los Angeles-based IT company permission to provide international telecommunications services, saying it could be exploited by Chinese threat actors. “There is significant risk that the government of China and other threat actors could exploit any vulnerabilities to the detriment of US national security and law enforcement interests,” the FCC said, citing ⁠concerns about the collection, disruption or misrouting of US communications. The company and Chinese embassy in ‌Washington did not immediately respond to a request for comment. The FCC cited concerns about Digitalsystem Technology partnerships with Hong Kong-based PCCW, China Unicom and ‌China Mobile.

July 7, 2026
China and Brazil’s cotton trade grows as bilateral trade deepens
Business

China and Brazil’s cotton trade grows as bilateral trade deepens

By continuing to browse our site you agree to our use of cookies, revised Privacy Policy and Terms of Use. You can change your cookie settings through your browser. Brazil is the world's largest cotton exporter, claiming that top spot from the United States a couple years ago - and China is now its biggest customer. At a recent industry gathering in Santos, the people who grow, trade and ship the crop looked at ways to hold onto that lead. Paulo Cabral reports.

July 7, 2026
How Hong Kong is fighting to redefine its future with an institutional moat, wealth surge
Business

How Hong Kong is fighting to redefine its future with an institutional moat, wealth surge

Officials deploy multipronged strategy – from tax incentives to new gold clearing system – to recalibrate city’s global standing amid shifting capital flows, regulatory changes For decades, warnings of Hong Kong’s terminal decline have arrived in periodic waves. Despite the prominent American economist’s perceived gloom, the “Hong Kong is back” camp – led by a defiant local government – is wielding evidence to the contrary. The city claimed the IPO fundraising crown last year and ranked behind only New York and London in the latest Z/Yen Global Financial Centres Index. Behind the heated debate lies a fundamental question: in an era defined by shifting capital flows, geopolitical fragmentation and evolving regulatory frameworks, how can Hong Kong keep shining as a globally leading financial centre? “Hong Kong must adapt to a changing world order,” said Anthony Cheung, chair professor in public administration at the Education University of Hong Kong. As the city’s traditional intermediary role between China and global markets erodes, he argued, it must rely more explicitly on its institutional strengths to recalibrate its competitive position.

July 7, 2026
3 tracks are shaping the Middle East’s post-Iran war order
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3 tracks are shaping the Middle East’s post-Iran war order

The Iran battlefield might be quieter and diplomacy might have resumed, but the main contest has shifted to the architecture of the Middle East. The question is no longer whether Iran can be contained, the Strait of Hormuz can remain open or another round of escalation can be avoided. The larger issue is who will write the rules after the shock. Three tracks are taking shape. The first is led by the United States and built around the expansion of the Abraham Accords, the integration of Israel...

July 7, 2026
At UN, Cuba rallies support against ‘cruel’ and ‘ruthless’ US blockade
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At UN, Cuba rallies support against ‘cruel’ and ‘ruthless’ US blockade

Cuba’s foreign minister slammed the blockade’s ‘collective punishment’ of the population but the US envoy insisted ‘there is no blockade’ Cuban Foreign Minister Bruno Rodriguez denounced the “ruthless” US embargo against the communist island during a UN General Assembly debate on Tuesday that took place despite diplomatic pressure by Washington to prevent it. “The government of the United States is carrying out against Cuba a multi-dimensional, non-conventional warfare that has already lasted for almost seven decades now and has become ever more cruel and more ruthless during the last seven months,” Rodriguez told the body, slamming the blockade’s “collective punishment” of the population. “Paying attention to this ruthless crime is also a responsibility of the United Nations,” he added. The damage wrought by the embargo during the period of March 2025 until February 2026 amounts to a record US$8 billion, a 7 per cent increase over the same period one year earlier, he said, noting the figures do not include the “extreme impact” of the fuel blockade the US imposed on Cuba in February. Most regional blocs, including countries in Africa and the Caribbean, expressed their support for Cuba on Tuesday and condemned the US blockade.

July 7, 2026
US strikes Iran, revokes oil waiver after attacks on ships in Strait of Hormuz
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US strikes Iran, revokes oil waiver after attacks on ships in Strait of Hormuz

US Central Command said it launched strikes ‘to impose heavy costs’ for attacks on commercial shipping in the strategic waterway US Central Command said American forces had begun military operations against Iran in response to attacks on commercial shipping transiting one of the world’s most strategically important waterways. “US Central Command forces have begun launching a series of powerful strikes against Iran to impose heavy costs for targeting and attacking commercial shipping crewed by innocent civilians in an international waterway,” US Central Command said in a statement. Reports quoting US officials said the strikes targeted air defence systems, coastal surveillance facilities and drone positions. Iranian media reported explosions near the port area of Sirik on the country’s southern coast. The military response came hours after Washington moved to restore sanctions on Iranian oil by revoking a temporary waiver granted under an interim agreement reached following the end of hostilities last month. US officials said the attacks on shipping were incompatible with the understandings reached under that arrangement and warranted consequences.

July 7, 2026
China’s multi-front campaign to blunt and beat US chip bans
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China’s multi-front campaign to blunt and beat US chip bans

Support us Light and lasers are key to Netherlands' ASML's lithography equipment. Photo: ASML China is using several methods to circumvent United States export controls on extreme ultraviolet (EUV) lithography machines, including developing its own machines and stacking artificial intelligence (AI) chips to boost their performance. However, Washington suspects these may not be what Beijing has done alone. It says China may have already obtained an EUV machine from ASML through underground channels. US Commerce Secretary Howard Lutnick has questioned ASML’s senior executives over concerns that one of the Dutch company’s EUV systems may have ended up in China in breach of export restrictions, in a series of private meetings that began in April 2026, Bloomberg reported, citing people familiar with the discussions. Several US officials said they possess information indicating that ASML exported equipment associated with EUV systems, including specialized systems used to transport EUV machines, though they declined to disclose any evidence, citing sensitivity concerns. Such a scenario would represent a serious breach of the Wassenaar Arrangement, which bars ASML from shipping EUV lithography equipment to Chinese customers.

July 7, 2026
Colombia’s president-elect halts transition, accuses Petro of planning coup
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Colombia’s president-elect halts transition, accuses Petro of planning coup

President-elect Abelardo de la Espriella calls on the military to ‘protect’ the country’s democracy after outgoing leader alleges election fraud Colombia’s president-elect Abelardo de la Espriella on Tuesday suspended the transition process with President Gustavo Petro and accused him of planning a coup to stay in power, after the incumbent leader refused to recognise results of the country’s election. Petro said Monday that he refused to recognise de la Espriella’s victory in the June 21 presidential run-off election over the Petro coalition’s candidate Senator Ivan Cepeda, alleging fraud without providing evidence. The conservative, Trump-endorsed de la Espriella said in a video posted Tuesday on social media that Petro and Cepeda had launched a plan to “cling to power at all costs” through “a coup d’état” by refusing to recognise his victory. He did not provide evidence to support the allegation, and Petro did not immediately respond to it. “As president-elect, I call on Colombia’s armed forces to honour their oath to protect the Constitution and democracy and to disobey any orders from Petro to the contrary,” de la Espriella said.

July 7, 2026