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Ready player 3: India offers Asean a US-China alternative

At a food fair in New Delhi, a vegetable exporter from the Philippines set out its wares: bags of dried moringa and lemongrass, bundles of taro leaves and a bowl of laing, the creamy coconut-milk stew made from them. The question Dry Tech Manufacturing wanted to answer was simple: could the simple Filipino food it sells under its Sheentaro brand tantalise the taste buds of the world’s most populous country? India has hundreds of millions of vegetarians, more than any other country on Earth,...

August 1, 2026

Business

Trump officials drop Reflecting Pool charges against ex-US Olympian David Hearn

The Justice Department admitted that damage to the landmark was caused by a ‘flawed installation’ The US Justice Department moved Friday to dismiss a criminal case charging a former Olympian with deliberately damaging the Lincoln Memorial Reflecting Pool. Government lawyers said in a 20-page court filing that information provided since the indictment of David Hearn shows that the damage was the result of a “flawed installation by the contractor” as well as “the rush to complete the project prior to events associated with the America 250 celebration in the weeks surrounding Independence Day 2026”. “Given all of this newly discovered information, it is difficult to attribute the widespread damage to the Reflecting Pool to vandalism, let alone to establish that fact beyond a reasonable doubt,” the filing from US Attorney Jeanine Pirro said. Hearn’s lawyers said in a statement that the case against him should never have been brought. “Its dismissal today does not erase the abuse of government power in arresting and charging a patriotic American who did nothing wrong,” the lawyers said. “The government’s approach was ready, fire, aim. The administration owes Mr Hearn an apology.”

July 31, 2026

Business

US lawmakers investigate DoorDash’s use of Moonshot AI’s Kimi K2.6 model

Food delivery giant latest targeted as rising adoption of China-built AI models pushes Washington to find strategies to combat trend The move underscores growing tensions between US lawmakers and industry, as Chinese AI models have become increasingly popular among US companies looking to save costs of AI adoption. The letter also requests that DoorDash staff “with responsibility for DoorDash’s AI infrastructure, software security, model evaluation, procurement, and legal or compliance review” appear for an in-person briefing with the lawmakers by August 21. “[The] Committees recognise that US companies, from large technology firms to start-ups, may evaluate and deploy PRC-developed open-weight models because they can provide competitive capabilities, lower costs, greater customisation, and alternatives to reliance on a small number of proprietary model providers,” the letter said. “Those practical considerations do not eliminate the need for risk-based safeguards or diminish the national security concerns associated with growing dependence on models developed by entities subject to PRC jurisdiction.”

July 31, 2026

Business

Trump envoy Steve Daines to return to Beijing as US and China lock in Xi summit agenda

Montana Republican is helping narrow differences on issues expected to dominate summit planned for September in Washington, source says Daines, a Montana Republican, has emerged as an important backchannel figure between Washington and Beijing. He visited Beijing in May as the two sides sought to stabilise relations ahead of Trump’s trip to the Chinese capital later that month. One person familiar with the matter said Daines had been carrying messages ahead of leader-level engagements and helping narrow differences on issues expected to dominate the coming summit. Daines’ role positions him as a pivotal intermediary as preparations enter their final stretch, according to the source. “Both sides understand his role very well,” the source said. “He has become an effective channel for communicating President Trump’s concerns to the Chinese side and vice versa.”

July 31, 2026

Business

Chinese buyers acquire US soybeans for October-November, traders say

The ‌sales volume of at least 840,000 tonnes was among China’s largest single-day purchases this month Chinese ⁠government buyers bought at least eight ⁠cargoes of US soybeans on Friday for shipment from US Gulf Coast terminals and six cargoes for shipment from Pacific Northwest ports in October and November, two US traders with knowledge of the deals said. The ‌sales volume of at least 840,000 tonnes was among China’s largest single-day purchases this month after the world’s top soybean importer restarted purchases from the US in late June. China had slowed purchases of American soybeans over much of the past year amid a trade war with the US and ⁠ample supplies of cheaper beans from rival exporter Brazil. The deals come after recent trade ‌talks between the United States and China that, according to the White House, included Chinese commitments to buy 25 million tons of ‌US soybeans annually and boost purchases of other American farm goods. Soybean traders ⁠expect sales to ⁠continue as Chinese President Xi Jinping prepares to visit the White House in late September for trade talks ‌with US President Donald Trump.

July 31, 2026

Business

Will US or China win the next war? That’s the wrong question to ask

We should be asking how we can avoid conflict and work towards ending mutual threats, such as climate change and human injustice The magazine’s contributors reflect a deeply ingrained Western strategic tradition, rooted in liberal realism, that says that the United States must maintain its primacy to underwrite global stability, defend democracy and retain its financial, technological and military power. Any challenger is inherently revisionist. Lead essayist Paul Scharre argues that new technologies in drones, artificial intelligence (AI) and robotics challenge not only America’s traditional air and naval power but also allow states such as Iran to conduct asymmetric warfare, which erodes US hard and soft power. Former US Pacific commander Admiral Dennis Blair reinforces this view, arguing that China’s military build-up is not defensive but designed to overturn the status quo in East Asia. He advocates deterrence, using US alliances, forward deployments and technological leadership to guarantee regional stability.

July 31, 2026

Business

Europe’s wildfire threat expands in latest heatwave

Many nations are trying to reduce the risk and also ease pressure on water and energy networks, amid more evacuations Central Europe was sweltering under the latest heatwave in an already record-breaking summer on Friday, with several countries taking steps to reduce the risk of fires and ease pressure on water and energy networks. Europe’s wildfire threat is expanding, as high winds and heat force evacuations from Greece to the UK, even as blazes were brought under control in France and Spain. In Hungary, Prime Minister Péter Magyar has called on businesses to voluntarily reduce their electricity consumption, outdoor fires have been banned and decorative lighting will be switched off on state buildings to save energy. Kata Serfozo, 36, a designer on maternity leave in Budapest, said she was spending “a lot of time outdoors in the shade” because it feels “much better than staying at home (with) the curtains drawn, the blinds down, and the shades closed”. In Slovakia, local authorities in the capital Bratislava have set up more than 30 cooling stations offering air-conditioned spaces and drinking water.

July 31, 2026

Business

Mainland Chinese families lose legal challenge over public university fees

High Court rejects bid by 87 families to challenge rule that visa dependants must have lived in city for at least two years to access subsidised places A group of 87 mainland Chinese families who came to Hong Kong under talent visa schemes has lost a legal bid to challenge the government’s policy changes that affected their children’s access to publicly funded university places as dependants. High Court Judge Russell Coleman on Friday ruled that there was no irrationality in the Education Bureau’s requirement that children of parents who arrived through the schemes must have lived in the city for at least two years before they can enjoy subsidised fees at the universities from 2028 onwards. The government, which announced the policy change in July 2025, said the eligibility would be gradually tightened, with a one-year residency requirement introduced for 2027-28 applications as a preparation. But three months later, 87 families filed a judicial review against the new policy, including “one-year rule”. Currently, students who receive dependant visas or entry permits when they are minors are considered local and can apply for government-funded programmes, paying HK$47,000 (US$$5,990) in tuition fees for the coming academic year.

July 31, 2026

Business

How sell-off at flashy AI-focused US hedge fund is a wake-up call for Chinese investors

In July alone, Situational Awareness, which bet heavily on the AI supply chain, reportedly saw its portfolio value plummet 67 per cent Chinese tech investors are hearing warning bells after volatility in US tech stocks forced a fast-rising Wall Street hedge fund to clear its stock portfolio at a steep discount within a few days. “Don’t use leverage! Don’t use leverage! Don’t use leverage!” Shanghai-based public-markets analyst Harry Shen repeated to the South China Morning Post in an interview on Friday. Another warning came from Shanghai-based mainland Chinese stock market veteran Michael Zhang: “Don’t trade with borrowed money. Don’t blindly chase hot topics – because by the time you get in, it might be exactly when others are heading for the exit.” They were both reacting to the collapse of Situational Awareness, a fund founded in 2024 that bet big on AI. It offloaded billions of dollars’ worth of technology shares – funded with bank loans – to Citadel on Thursday, suffering heavy losses after it was unable to meet the collateral demanded by the lenders.

July 31, 2026

Business

Hamas says it reaches agreement to disarm after Trump announces deal

Hamas said on Friday that it reached an agreement to disarm, a significant move that could help end the war in Gaza, but one that will face many hurdles and could take a long time to achieve, if at all. The group agreed to a road map as long as Israel also makes concessions, including ending hostilities and withdrawing its troops from the Palestinian territory, a Hamas official and a regional official told Associated Press. Senior Hamas official Bassem Naim confirmed in a post on X that the...

July 31, 2026

Business

Top EU diplomat Kallas expected to visit Beijing in autumn amid deepest strains in years

It will be Kaja Kallas’ first face-to-face meeting with Chinese Foreign Minister Wang Yi since a bruising encounter in Brussels last summer It would also mark Kallas’ first trip to Beijing since taking on her role in 2024. The trip – with a date yet to be confirmed – would revolve around the bilateral “strategic dialogue”, a mostly annual format in which the sides discuss foreign and security policy issues. High on the EU agenda will be hot topics such as China’s relations with Russia, the ongoing crises in the Middle East and the tense situation in the Taiwan Strait. Insiders described the encounter as tense from the outset, with minor protocol mix-ups and a combative on-camera opening from Kallas in which she pressed Wang over China’s support for Russia.

July 31, 2026

Business

Insufficient evidence to charge basketball coach filmed slapping student: police

Police say they will not prosecute Yung Kam-wah, who was arrested in June over footage of him slapping students two years ago Police will not charge a prominent Hong Kong basketball coach filmed slapping a student two years ago, citing insufficient evidence. In a reply to the South China Morning Post on Friday, the force said it would not prosecute Yung Kam-wah, who was arrested in June this year on suspicion of common assault for physically punishing a secondary student at Hon Wah College in Siu Sai Wan. “Following an in-depth investigation, police have found insufficient evidence to institute prosecution against anyone and have notified the relevant parties of the investigation results,” police said in their reply. A video showing the incident surfaced in June this year. Yung apologised after the clip went viral and sparked public concern. In the footage, Yung is seen taking a jacket from the boy’s hand and throwing it to the ground. He then grabs the student’s left hand and uses it to slap the boy’s left cheek three times in quick succession. After a brief pause, and without releasing the boy’s hand, Yung strikes the student’s cheek three more times with his own left hand, with the force visibly moving the boy’s hair.

July 31, 2026