Business — 3,490 insights
Hong Kong ramps up health checks for travellers from Africa after Ebola outbreak
Business

Hong Kong ramps up health checks for travellers from Africa after Ebola outbreak

Move follows WHO declaring outbreak of deadly disease on continent a ‘public health emergency of international concern’ Local health authorities also said on Sunday that they would strengthen public awareness and education, while stressing that the “immediate health impact of Ebola disease on the local population is currently low”. “Although no confirmed cases of Ebola have ever been recorded in Hong Kong, as an international city, Hong Kong has always remained vigilant in peacetime and stayed alert constantly,” it said. “Hong Kong has fully prepared for epidemic prevention and control.” It said it would strengthen health screening at the airport for passengers arriving on flights from Africa following the outbreak in the Democratic Republic of Congo and neighbouring Uganda.

Wang Xiaodong, derided over Covid-19 handling, comes under corruption cloud
Business

Wang Xiaodong, derided over Covid-19 handling, comes under corruption cloud

China’s top graft watchdog says former Hubei governor is suspected of violating discipline Wang was Hubei’s governor from 2017 to 2021 and was widely ridiculed on social media after he said at a press conference in late January 2020 that the province could make 10.8 billion surgical masks. An aide then passed him a note and he corrected himself to say 10.8 million. In June 2021, Wang was transferred to Beijing to serve as deputy director of the Agricultural and Rural Affairs Committee of the National Committee of the Chinese People’s Political Consultative Conference, a senior semi-retirement position. It capped a political career that began in 1983 in southeastern Jiangxi province before his transfer a decade later to southwestern Guizhou province, where he rose to vice-governor. He was transferred to Hubei in 2011.

Malaysian ex-ministers resign from Anwar’s party, snap election rumoured
Business

Malaysian ex-ministers resign from Anwar’s party, snap election rumoured

Rafizi Ramli and Nik Nazmi Nik Ahmad resigned from cabinet last year after losing leadership posts in internal party elections Two prominent ⁠former Malaysian ministers said on ⁠Sunday they would vacate their parliamentary seats ⁠and resign from Prime Minister Anwar Ibrahim’s ruling coalition party to join a small party that they would take over. The move by Rafizi Ramli and Nik Nazmi Nik Ahmad, who resigned from cabinet last year after losing leadership posts in internal party elections, ‌could create a challenge for Anwar, amid speculation of an early election this year. The next general election is not due until 2028, but two lawmakers told journalists in March it could be called as early as July, to coincide with several state polls. In an address on Sunday to a leadership convention of his coalition ⁠party Pakatan Harapan, Anwar said he would consider calling a snap general election if the undermining ‌of relationships within the unity government continues. The unity government is made up of a coalition of parties including Barisan Nasional as well as Pakatan Harapan and others.

A sinking ship? Why the EU and China could be heading for a trade war
Business

A sinking ship? Why the EU and China could be heading for a trade war

Clashes at a conference in Chinese capital reflect wider tensions that threaten to descend into an economic conflict EU diplomats were accused of “bullying”, while the bloc’s policies were billed as “protectionist” efforts to decouple from China. At the acrimonious event hosted by the European Union on Tuesday, the two sides bickered not only over policy but also over who was at fault for the broad deterioration in their ties. The blame game suggests that an off-ramp in their rapid descent towards a trade war may be hard to find. On one fiery panel billed as “EU-China trade relations, partnership or sinking ship?”, top European business figures and observers looked exasperated as Chinese speakers disregarded their insistence that Europe remained comparably open to Chinese goods. “It is neither a sinking ship nor a partnership – it’s a 400-metre-long giant container ship loaded with 24,000 containers going to Europe and coming back almost empty,” said Jens Eskelund, president of the EU Chamber of Commerce in China.

Hong Kong’s elite pay tribute to philanthropist Maisy Ho at memorial service
Business

Hong Kong’s elite pay tribute to philanthropist Maisy Ho at memorial service

Prominent figures from business, entertainment and political circles pay respects to daughter of late tycoon Stanley Ho at memorial service Hundreds of Hongkongers, including prominent business and political figures, have attended a memorial service for Maisy Ho Chiu-ha, the daughter of late Hong Kong and Macau tycoon Stanley Ho Hung-sun, remembering her as a low-profile philanthropist. Mourners dressed in black streamed into the ballroom of the Grand Hyatt in Wan Chai on Sunday for Maisy Ho’s memorial service, with many prominent names from business, entertainment and political circles paying their respects. Maisy Ho, the executive director of Shun Tak Holdings, died at the age of 58 on April 12. Her death was announced by her siblings, who did not disclose the cause at the time. At the centre of the ballroom stood a large portrait of Ho smiling in a red top, surrounded by a sea of hydrangeas, peonies, lilies and orchids. In front were heart-shaped wreaths from her immediate family, including eldest sister Pansy Ho Chiu-king, second sister Daisy Ho Chiu-fung, younger sister Josie Ho Chiu-yee and brother Lawrence Ho Yau-lung.

China ramps up building a national computing power network as AI token demand surges
Business

China ramps up building a national computing power network as AI token demand surges

Beijing casts computing power as a national infrastructure, likening tokens to mobile data as telecoms firms roll out mass-market packages Daily token calls in China exceeded 140 trillion in March, more than 1,000 times the level at the start of 2024, according to data from the National Bureau of Statistics. The reports said rising AI model costs began to weigh on developers and businesses, echoing the early days of the mobile internet when slow speeds and high charges later gave way to cheap, accessible mobile data after the roll-out of 4G and 5G networks. Earlier this month, the State Council called for stronger planning and construction of the six networks. The National Development and Reform Commission said investment in the six networks and related areas was expected to exceed 7 trillion yuan (US$1 trillion) this year.

Xi-Trump summit: what ‘strategic stability’ means for US-China ties
Business

Xi-Trump summit: what ‘strategic stability’ means for US-China ties

The main question isn’t whether the summit resolved the China-US rivalry but if it created common ground for addressing disputes The reference to “the next three years and beyond” is especially notable in this respect as it broadly corresponds to the remainder of the current US presidential term while also indicating an interest in framing the relationship in terms that extend beyond the immediate summit cycle. Its significance lies not in any denial of competition, but in the effort to place competition within a more explicit set of political limits and strategic expectations.

Why does the PLA object to Japan’s drone plans for its southern islands?
Business

Why does the PLA object to Japan’s drone plans for its southern islands?

Tokyo says it’s building a coastal defence system but Beijing sees an offensive purpose in the deployment The People’s Liberation Army has accused Japan of taking a “dangerous gamble” with its plan to deploy satellite-aided drones to its southwestern islands near Taiwan. In a commentary on Sunday, the PLA Daily, the mouthpiece of the Chinese military, said that while Tokyo maintained that it was building a multilayered coastal defence system, the equipment had a “distinct offensive nature”. “While called a ‘shield’, it is in reality a ‘spear’,” it said. Japan is actively equipping its naval fleet with US-made Tomahawk cruise missiles to bolster its long-range counterstrike capabilities. The country plans to 400 Tomahawks with a range of roughly 1,600km, allowing it to hit targets deep inland without exposing vessels to close-range enemy fire.

Drone targets UAE nuclear power plant, straining Iran war ceasefire
Business

Drone targets UAE nuclear power plant, straining Iran war ceasefire

The Barakah nuclear power plant went online in 2020 with the help of South Korea and is the first and only nuclear power plant on the Arabian Peninsula A drone strike targeted the United Arab Emirates’ Barakah nuclear power plant on Sunday, setting an electrical generator ablaze on its perimeter and again straining the shaky ceasefire in the Iran war. No one immediately claimed responsibility for the attack, which caused no radiological release nor injuries, authorities in the UAE’s capital, Abu Dhabi, said. However, suspicion immediately fell on Iran, which has been increasingly threatening the UAE over recent days as the country hosted Israeli Iron Dome missile defences and troops during the war. The attack comes as Iran still has a chokehold on the Strait of Hormuz, a vital waterway where a fifth of the world’s oil and natural gas passed through before the war, disrupting global energy supplies. Meanwhile, the US continues to block Iranian ports in response as negotiations to solidify the ceasefire have failed to advance. US President Donald Trump has suggested hostilities could resume, as fire exchanges between Israel and Hezbollah in Lebanon have been rising in recent days, threatening a separate ceasefire there.

Did Chinese scientists simulate what could be the ‘end of the universe’?
Business

Did Chinese scientists simulate what could be the ‘end of the universe’?

Tsinghua University team’s tackles one of most unsettling ideas in theoretical physics to possibly open a new pathway in quantum computing If a certain tiny bubble suddenly appeared somewhere in the cosmos, physicists say, it could expand and erase everything in its path. Known as “false vacuum decay”, the scenario has been one of the most unsettling ideas in theoretical physics for nearly half a century. The experiment simulated how a metastable “false vacuum” could tunnel into a lower-energy “true vacuum” through purely quantum effects, triggering the formation and expansion of destructive vacuum bubbles. The research does not suggest the universe is about to collapse.

Hung Shui Kiu industrial park operator eyes bond issuance, tax cuts for firms
Business

Hung Shui Kiu industrial park operator eyes bond issuance, tax cuts for firms

Incoming chairman Jeffrey Lam outlines park’s financing and offerings, says operator will first rely on government’s HK$10 billion injection Hong Kong’s Hung Shui Kiu industrial park operator will consider issuing bonds to finance its future operations and propose tax concession measures to the government to attract enterprises to set foot in the area. Veteran industrialist Jeffrey Lam Kin-fung made the remarks on Sunday, two weeks before he was due to start his three-year term on June 1 as the chairman of the Hung Shui Kiu Industry Park Company – the first government-owned entity established to accelerate the development of the Northern Metropolis megaproject. Lam said the company would rely on the government’s HK$10 billion (US$1.28 billion) injection to kick-start its operations, while the industrial park’s collaboration with different sectors could also attract capital. “We will keep an eye on our budget,” Lam told a television news programme. “Bond issuance is also feasible, as it does not involve using public money. However, it is hard to issue bonds on day one, as we do not have an established track record. It will be easier when we have become successful. “Most importantly, we should have our infrastructure ready.

China’s motorsports industry continues to rev up with country’s first race-grade fuel
Business

China’s motorsports industry continues to rev up with country’s first race-grade fuel

The unveiling of the high-octane fuel at the Taklimakan Rally comes on the back of international success for the ZXMOTO motorbike marque China’s first domestically developed fuel designed for motor racing has made its debut at a rally in the western deserts in what state media hailed as a milestone for the country’s oil refining industry. As the first of its kind to be mass-produced in China, the fuel was described by state broadcaster CCTV as “filling a gap” in the domestic market, ending a long-standing reliance on imported fuel for high-level competitions. The new racing-grade petrol was unveiled on Saturday at the opening ceremony of the 2026 China Taklimakan Rally in Urumqi – a long-distance off-road event held mainly in Xinjiang – where it has been designated as the official fuel. It was jointly developed by two research institutes under the China Petroleum and Chemical Corporation (Sinopec Group) alongside Zhenhai Refining & Chemical, the country’s largest integrated refining and petrochemical enterprise, based in the eastern city of Ningbo. For years, China’s motor racing sector has been reliant on imported products, with some teams having to blend their own fuel to meet their specific engine requirements.