Business — 3,490 insights
China husband says ‘I love you’ after wife wakes him from vegetative state by biting his toes
Business

China husband says ‘I love you’ after wife wakes him from vegetative state by biting his toes

Man’s selfless act in 2019 saving child during fall left him brain-damaged but wife’s devotion to his recovery wins online praise A woman in central China has captured the hearts of many online after helping her husband emerge from a years-long vegetative state by biting his toes to stimulate his nerves. Song Mei, 45, a former kindergarten art teacher from Henan province, and her husband Zhao Jinqian, a waterproofing worker, had lived modestly with their two children before tragedy upended their lives. Local reports described the couple as generous even when it exceeded their means. Song gave free painting lessons at home to children from poor families, while Zhao, after years of gruelling work on construction sites, sponsored a student from a remote mountain area. In October 2019, Zhao climbed onto a warehouse roof to rescue a trapped three-year-old child. He fell from a height of about six metres while holding the youngster in his arms, using his body to shield the child as they plunged to the ground. The child escaped unharmed, but Zhao landed head first, suffering severe brain injuries and multiple fractures. Doctors said his chances of waking were vanishingly small, and that he had survived at all was a miracle.

Saudi Arabian tech giant eyes Hong Kong as Asia gateway and smart city partner
Business

Saudi Arabian tech giant eyes Hong Kong as Asia gateway and smart city partner

Elm, backed by Saudi Arabia’s sovereign Public Investment Fund, expresses strong ‘appetite’ for engaging with Northern Metropolis project A Saudi Arabian tech giant has made Hong Kong its first stop on its maiden visit to Asia, expressing strong interest in partnering with local authorities to co-develop a smart city and establish a strategic gateway to the broader regional market. The remarks on Wednesday followed the opening of LEAP East 2026, the inaugural Hong Kong edition of the global tech event, where Financial Secretary Paul Chan Mo-po highlighted deepening ties between the two regions. Chan said he would lead a business delegation to Saudi Arabia later this year. The three-day technology conference in Wan Chai has already drawn about 35,000 participants from more than 30 countries and territories to Hong Kong. “This is my first time in Asia and the start is in Hong Kong,” said Majid Saad Al-Arifi, executive vice-president of marketing at Elm, in an interview with the South China Morning Post. He added that the visit was the firm’s first step towards entering the Asian market. Elm is backed by Saudi Arabia’s sovereign Public Investment Fund and serves as the digital solutions provider for governments and businesses.

Myanmar has ‘a mountain to climb’ to woo 2 million tourists a year
Business

Myanmar has ‘a mountain to climb’ to woo 2 million tourists a year

Myanmar saw 4.5 million tourist arrivals at the peak in 2015, but the numbers have fallen sharply since the military coup in 2021 Authorities have been ramping up efforts to bolster Myanmar’s tourism sector, which fell following the 2021 coup that led to widespread civil unrest across the country. Over 100,000 deaths have been logged since the crisis, according to conflict monitor Armed Conflict Location and Event Data. More than 973,000 foreign tourists visited Myanmar last year, the Ministry of Hotels and Tourism said in January. Officials are hoping to nearly double that to 1.8 million this year. “We mainly expect to see a surge in Chinese and Thai visitors, so they will be a key driver of our tourism growth,” Maung Maung Kyaw, the ministry’s permanent secretary, told Bloomberg. Chinese travellers remain Myanmar’s biggest source of visitors arriving by air, followed by Thais and South Koreans, according to the Bloomberg report. This remains consistent with tourism figures in 2024, when tourists from China made up 35 per cent of inbound visitors, followed by Thailand at 15 per cent.

When will Hong Kong’s retail leasing market see a turnaround?
Business

When will Hong Kong’s retail leasing market see a turnaround?

Analysts say that geopolitical tensions, Beijing’s measures against capital flight and potential rate hikes are adding to uncertainties The food and beverage sector has seen numerous closures of both casual eateries and high-end restaurants in recent months. Fast-food chain Maxim’s MX scaled back operations and closed its South Horizons and Dragon Centre branches in June, while Howard’s Gourmet, – a high-end Chinese restaurant and local celebrity favourite that operated for over a decade in Central – quietly shut down at the end of May. Jeannette Chan, senior director of retail at JLL, said that overall rents for commercial street shops in Hong Kong had fallen by 74 per cent from their peak in 2014 and 44 per cent from the 2019 pre-pandemic level. “Falling rents have triggered a wave of relocation among street-level shops in secondary and tertiary locations across Hong Kong to prime locations,” she said.

Trump says he will ask US Supreme Court to rehear birthright citizenship case
Business

Trump says he will ask US Supreme Court to rehear birthright citizenship case

The top court rarely grants requests to rehear cases and has not done ‌so after issuing a ruling in an argued case in ⁠decades US President Donald Trump said on Wednesday that he would ask the Supreme Court to rehear a case challenging his executive order curtailing birthright citizenship, a long-shot ‌bid to reverse the court’s rejection of one of his signature policies. The court last month rejected Trump’s attempt to restrict birthright citizenship in the US, ruling that his directive violated language in the US Constitution’s 14th Amendment that confers ⁠citizenship to those born in the United States who are “subject to ‌the jurisdiction thereof”. The US Supreme Court rarely grants requests to rehear cases and has not done ‌so after issuing a ruling in an argued case in ⁠decades. The Republican ⁠president called the decision, which was written by conservative Chief Justice John Roberts, ‌a “miscarriage of justice”. “AMERICAN CITIZENSHIP IS NOT FOR SALE! In fact, that is a crime, ‌and therefore, ‌the Supreme Court’s ruling is wrong,” Trump said on social media. “I will be asking for a ⁠Rehearing by the United States Supreme Court, IMMEDIATELY.”

Global memory shortages spike consumer electronics prices
Business

Global memory shortages spike consumer electronics prices

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. Prices on consumer electronics have been steadily climbing around the world due to a shortage of memory chips. CGTN's Mark Niu takes a look at why artificial intelligence is behind the rise.

US says China gave only hours’ warning before Pacific submarine missile launch
Business

US says China gave only hours’ warning before Pacific submarine missile launch

Washington criticised China on Wednesday for providing only a few hours’ notice ahead of its launch of a submarine-fired ballistic missile into the Pacific, saying Beijing’s actions fell short of standards followed by other major nuclear powers. The US State Department said China failed to provide sufficient information ahead of Sunday’s test, which it said took place amid Beijing’s “rapid and opaque nuclear weapons build-up”. “We monitored China’s submarine-launched ballistic missile test on...

Trump’s tariff war pushes Brazil’s trade towards China as US share hits record low
Business

Trump’s tariff war pushes Brazil’s trade towards China as US share hits record low

Trading report lands as USTR weighs extra 25 per cent levy and Flavio Bolsonaro tells hearing that Lula ‘licks China’s boots’ The US share of Brazilian exports fell to its lowest level since 1997 in the first half of 2026, while China widened its lead as the country’s top trading partner, according to the American Chamber of Commerce for Brazil, whose report landed as Washington held public hearings on a proposed new round of tariffs against Brazilian goods. American buyers took 9.4 per cent of Brazilian exports between January and June, down from 12.1 per cent a year earlier and the smallest share in the chamber’s records. China’s share rose to 31.5 per cent from 28.9 per cent, nearly a third of everything Brazil sells abroad. The decline pushed total trade between the two countries down 12.8 per cent, to US$36.4 billion, with goods subject to American surtaxes dropping 20.5 per cent in the 12 months through June. China now ranks as the top trading partner for 14 Brazilian states, according to ApexBrasil, the government trade promotion agency. The shift reverses the map from two decades ago, when 17 states counted the US as their largest market, compared with six today.

Nato summit delivers unity and billions in defence deals, Rutte says
Business

Nato summit delivers unity and billions in defence deals, Rutte says

Secretary general says allies are strengthening the alliance after agreeing to higher spending, amid continued pressure from Trump Nato Secretary General Mark Rutte defended US President Donald Trump’s criticism of the transatlantic security alliance, while saying this year’s summit showed “a huge sense of unity” and produced procurement plans worth tens of billions of dollars. During a press conference after the North Atlantic Council meeting of leaders at the Nato summit hosted by Turkey in Ankara on Wednesday, Rutte said this year’s gathering had resulted in more than US$50 billion in procurement deals as part of efforts to meet the defence spending target of 5 per cent of GDP by 2035, agreed at last year’s summit in The Hague. These investments will support Nato’s capability targets across all domains, including deep precision strike, integrated air and missile defence, uncrewed systems, cutting-edge technologies and intelligence capabilities, as well as developing “interoperable transatlantic warfighting clout” and adopting powerful AI models, Rutte said.

IMF reaches staff-level agreement on first Zimbabwe reform review
Business

IMF reaches staff-level agreement on first Zimbabwe reform review

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. The seal of the International Monetary Fund (IMF) is seen in Washington, D.C., January 26, 2022. /CFP The International Monetary Fund (IMF) announced Tuesday that it reached a staff-level agreement with Zimbabwe on the first review of its 10-month Staff-Monitored Program, marking a further step in the country's efforts to restore macroeconomic stability, clear external arrears and re-engage with international creditors. The IMF said implementation of the programme through the end of March was broadly satisfactory. All quantitative targets and structural benchmarks were met, including those on the primary budget balance, international reserves, Reserve Bank of Zimbabwe lending to the public sector, new external borrowing and growth of the ZiG monetary base. The only target not met was protected social and priority spending. The staff-level agreement followed an IMF mission to Harare from June 9 to June 18 and is subject to approval by IMF management.

IMF sees world economy growing just 3% this year amid Iran war
Business

IMF sees world economy growing just 3% this year amid Iran war

The outlook is weighed down by the Iran war but helped by AI and other technologies The International Monetary Fund on Wednesday modestly downgraded its outlook for the world economy this year, citing the energy shock caused by the Iran war. But the fallout from the conflict is being partially offset by booming investment in artificial intelligence and other technologies. The IMF now expects the global economy to expand by a sluggish 3 per cent in 2026, down from 3.5 per cent last year and from the 3.1 per cent it had forecast for this year back in April. The fund expects worldwide growth to rebound to 3.4 per cent next year. Iran responded to US and Israeli attacks February 28 by shutting down the Strait of Hormuz, through which a fifth of the world’s crude oil and natural gas passes. Energy prices soared, squeezing businesses and consumers. The IMF now expects oil prices to be up nearly 32 per cent this year and for global consumer prices overall to increase 4.7 per cent in 2026. That would be up from 4.1 per cent in 2025 and would mean that two years of progress against inflation have stalled.

Teen, 16, arrested after two girls seriously wounded in German school ‘rampage’
Business

Teen, 16, arrested after two girls seriously wounded in German school ‘rampage’

At least two girls are seriously injured in the suspected ‘rampage’ At least two girls have been seriously wounded and a 16-year-old suspect arrested after an attack at a secondary school in the southern German state of Bavaria on Wednesday. The perpetrator appeared to have deliberately targeted the Welfen grammar school in the town of Schongau in a suspected “rampage”, a police spokeswoman said. She was unable to confirm press reports according to which the assailant used a knife in the attack. Local police said on their social media account that “a suspected perpetrator has been arrested”, later adding that this was a “16-year-old boy”. Initially the police had spoken of “several” injured and later on Wednesday afternoon said that “according to current information two girls have been seriously injured”. They said that the “girls’ lives are not in danger” and did not specify whether they were students at the school.