Business — 1,692 insights
Chinese rocket scientists find ‘most effective’ way to nuke a doomsday asteroid
Business

Chinese rocket scientists find ‘most effective’ way to nuke a doomsday asteroid

China’s two-pronged method could blast apart an Earth-threatening space rock using a 3-megaton explosion equivalent to 200 Hiroshima bombs In simulations, a 3-megaton explosion – or around 200 Hiroshima bombs – could completely blast apart an asteroid about 100 metres (328 feet) across, the team reported in the Space: Science & Technology journal in May. The researchers also found that burying the bomb 30 metres beneath the surface could more than triple the change in the asteroid’s speed compared with a shallow explosion, making it far more effective at pushing the rock off course. Instead of relying on a high-speed impact at a random spot, the two-step method allows engineers to choose where to bury the bomb and place it much deeper beneath the surface.

Spend HK$10,000 a month on your pets? Why not, say cat lovers at Hong Kong expo
Business

Spend HK$10,000 a month on your pets? Why not, say cat lovers at Hong Kong expo

From premium cat food to AI meow translators, final day of annual expo draws thousands with purr-chasing power With 14 cats and a dog at home, Hong Kong couple Mr and Mrs Cheung spend more than HK$10,000 (US$1,275) a month on their beloved pets. “Pets are meant to be spoiled rotten,” said Mrs Cheung, a pet groomer in her thirties who visited the cat expo in Wan Chai on Sunday with her husband and four Maine Coon cats. The cats were dressed up and carried in a HK$4,000 stroller made in Japan. She said the four cats enjoyed going out, but were “a bit emotional today” because of the attention they received from eventgoers. Halfway through their visit, the couple had already spent about HK$2,000 on cat food and snacks from Hong Kong and Taiwan brands. “We do not have a budget in mind; we will buy anything that is right for us,” Mr Cheung said. He said they used to buy cat food from Taiwan and ship it to Hong Kong because of the premium quality, so they were happy to see more Taiwanese brands at this year’s event.

‘Discouraged’ at university, maths star Wang Hong spurs Chinese education debate
Business

‘Discouraged’ at university, maths star Wang Hong spurs Chinese education debate

Fields Medal winner’s candid remarks resonate with young students in China who say they’ve had similar experiences But it is the 35-year-old’s candid remarks about feeling “discouraged” in her early years at an elite Chinese university that appear to have struck the deepest chord. Those comments have set off a broader debate about the country’s education system and whether it provides the support students need to develop confidence and pursue original ideas. Wang and her compatriot Deng Yu, 37, were among four mathematicians awarded the Fields Medal on July 23. It was also the first time two Chinese mathematicians had won the prize in the same year. In interviews since then, Wang has spoken about how she lost confidence as a young undergraduate at Peking University but regained it when she continued her studies in France.

5 dead in Indonesia ferry fire, 41 missing
Business

5 dead in Indonesia ferry fire, 41 missing

The captain reported the blaze as the vessel sailed from East Java to South Sulawesi. Some passengers jumped into the sea An Indonesian ferry caught fire at sea on Sunday, killing five people and leaving another 41 missing after some jumped overboard, search and rescue officials said. A total of 225 people on the vessel were rescued, said the regional Surabaya Search and Rescue Agency, which provided the latest figures in an afternoon update. Some passengers jumped into the sea and were picked up by a nearby ship, according to Basarnas, Indonesia’s National Search and Rescue Agency. Four other vessels were on standby near the ferry but could not approach because of the risk posed by flammable material on the ferry, it said. The captain had called the ferry company to report the fire as the vessel sailed from Surabaya in East Java to Makassar in South Sulawesi, Basarnas said.

Rains fail to deter Chiikawa fans and big spenders after roundabout cancellation
Business

Rains fail to deter Chiikawa fans and big spenders after roundabout cancellation

Chiikawa Artiverse, organised by local design studio, AllRightsReserved, is in its second year and will run until September 6 The return of an exhibition featuring popular Japanese manga series Chiikawa to Hong Kong drew crowds and big spenders on a rainy Sunday afternoon, even though the organiser cancelled a much-anticipated roundabout for safety reasons. While some fans expressed disappointment over the halted rides at the K11 Musea promenade on the Tsim Sha Tsui waterfront, others welcomed the alternative arrangement, which allowed them to take photos with several characters on the stationary roundabout. “It is a bit disappointing, as my son was looking forward to hopping on the roundabout,” said Joey Chan, a corporate secretary in her thirties. She was visiting with her son and her husband, who is also a corporate secretary. The show, Chiikawa Artiverse, organised by local design studio AllRightsReserved, is in its second year and will run until September 6. A premium exhibition ticket, which includes the roundabout experience, costs HK$590 (US$75), while a general ticket costs HK$200, with fewer freebies.

How can retirees win against rising healthcare cost in Hong Kong
Business

How can retirees win against rising healthcare cost in Hong Kong

Hong Kong has long relied on both public and private hospitals and clinics, but medical inflation is pricing out elderly patients Retiree Philip Kong says he realised Hong Kong’s healthcare system needed a wake-up call when he discovered that receiving treatment for his prostate condition in neighbouring Shenzhen could potentially cut his medical bill by nearly 90 per cent. The 75-year-old was diagnosed with an enlarged prostate earlier this year and set to pay HK$210,000 (US$26,780) for a scheduled surgery at Hong Kong Sanatorium and Hospital – until a family friend, who is a urologist, suggested another option. The alternative? The University of Hong Kong-Shenzhen Hospital – a 2,000-bed clinical, teaching and research facility in Futian that opened in 2012 – offered a full examination, including blood and urine tests, for about HK$300 and an extra HK$20,000 for the standard inpatient procedure. In the end, Kong opted not to go for the larger discount and paid for the “deluxe” HK$60,000 package. It included a private room with a sea view and meant the operation was performed by three “professor-grade” specialists.

7 face arrest after Inner Mongolia fatal blast report exposes string of failings
Business

7 face arrest after Inner Mongolia fatal blast report exposes string of failings

A report into the explosion that killed 10 people said poor maintenance and a lack of proper oversight had contributed to the accident Debris from the blast was scattered over a 5km (3-mile) radius and disrupted local rail services after falling on the tracks, according to Shanghai-based news outlet ThePaper.cn. “The accident exposed deficiencies and manufacturing defects in the vessel’s design, inadequate daily maintenance at the plant, chaotic safety management and improper on-site emergency response,” the report said. It also criticised authorities in the city of Baotou and Kundulun district for failing to carry out their regulatory duties properly and recommended disciplinary action against 62 people, including local officials. The report said prosecutors in Kundulun had approved the arrest of seven employees from the plant and recommended that the judicial authorities carry out further investigations into six other people. It also said Baotou Steel Group and other firms involved in the project had been penalised, while the local authorities had submitted a written self-criticism to higher levels of government.

Climate crisis: Hungary closes nuclear power plant, Greece wildfires spread
Business

Climate crisis: Hungary closes nuclear power plant, Greece wildfires spread

Sustained drought is affecting the lives of many, with so-called megafires among multiple consequences of the extreme weather Hungary is fully shutting down its sole nuclear power plant for the first time due to the record low levels of the Danube River, straining energy supplies and posing a major test for the economy and new Prime Minister Péter Magyar. One of the two reactors still operating at the Paks plant was shut down early on Sunday, with the final one powering down later in the day, according to Magyar. He cited the progressively lower water levels, which are causing a shortage of water for cooling at the facility, which is operating at a little over a tenth of its 2,000 megawatt capacity. The nation is heading into uncharted territory by shutting the nuclear plant for the first time in its 44-year history, a result of sustained drought across much of central Europe. The plant, about 120 km (75 miles) south of Budapest, accounts for 40 per cent of the country’s electricity generation. Neighbouring Romania on Friday ordered a state of alert in the energy sector after reducing output at its own nuclear plant.

Beijing warns Manila of ‘powerful’ South China Sea toolbox ready for ‘head-on blow’
Business

Beijing warns Manila of ‘powerful’ South China Sea toolbox ready for ‘head-on blow’

Strongly worded PLA Daily article is latest in a series of countermeasures as Scarborough Shoal row flares, including military drills “We also issue a stern warning to forces seeking to stir up trouble and make waves in the South China Sea: when it comes to safeguarding peace and stability there, the options in China’s toolbox are rich and powerful,” said the article published under the pen name Jun Sheng, or “Voice of the Military”. “Any malicious attempt to the detriment of China’s sovereignty, security and development interests will be met with a resolute response and a head-on blow.” The article did not say what other options were in Beijing’s toolbox, but the drills were just part of a range of countermeasures Beijing took at the weekend.

Mainland transit gives Hongkongers option for Europe trips amid Middle East war
Business

Mainland transit gives Hongkongers option for Europe trips amid Middle East war

Industry leaders expect more Hongkongers to choose Europe via mainland transit, but warn cheaper fares may be offset by higher fuel charges Transiting through mainland China for long-haul destinations from Hong Kong has become an alternative to stopping off in the Middle East amid safety concerns brought about by the US-Israel war on Iran, the city’s travel agents have said. Alex Lee Chun-ting, general manager of Miramar Travel, told the South China Morning Post that the war in the Middle East had initially reduced interest in long-haul tours to Europe in summer, but he now expected a 3 per cent increase year on year. Lee said safety concerns over flying through the Middle East and pricier airfares had made residents hesitant to travel, with many forgoing routes via the Gulf region and opting for direct long-haul flights, pushing up demand and prices. “[Some mainland airlines] noticed this trend, too, and offered us group discounts for tours departing from Hong Kong, with stopovers in Shanghai or Beijing before heading to Europe,” Lee said, adding that this had absorbed some of the demand for Middle Eastern airlines.

Kowloon Walled City action film sequel’s gritty, nostalgic set draws residents
Business

Kowloon Walled City action film sequel’s gritty, nostalgic set draws residents

Production for sequel to 2024 blockbuster coincides with Hong Kong authorities’ recent bid to convert film sets and props into tourist attractions Tucked in a corner of a hi-tech industrial estate in Yuen Long, a cluster of cluttered flats has been designed to evoke a gritty Hong Kong slum. It is the main set for the sequel to the nostalgic blockbuster film Twilight of the Warriors: Walled In. The set, constructed on an empty factory site at Yuen Long InnoPark, recreates the iconic Kowloon Walled City, featuring details such as a banner hanging outside the building that reads: “Pleading to give our home a way to survive”. Set in the late 1980s and early 1990s, the sequel, Twilight of the Warriors: The Final Chapter, captures the era leading up to the demolition of the historic enclave. The film is directed by Soi Cheang and stars returning actors Raymond Lam Fung, Terrance Lau Chun-him, Louis Koo Tin-lok and German Cheung Man-kit, alongside new addition Daniel Wu. The original film, released in 2024, was a revenge drama that centred on brotherhood among the triad gangs that ruled the crime-ridden estate during the 1980s.

Rosewood Hotel Group to press on with clubhouse takeover as opposition escalates
Business

Rosewood Hotel Group to press on with clubhouse takeover as opposition escalates

A group of HKGTA patrons has written to the Legco Secretariat to oppose change of Town Club operator after filing complaints with authorities Rosewood Hotel Group in Hong Kong will press ahead with a controversial plan to change the operator at a clubhouse in Central on August 8, despite escalating opposition from a group of members, the South China Morning Post has learned. Sources said the hotelier’s Carlyle & Co private club would take over the operation of the Town Club in Central from the Hong Kong Golf & Tennis Academy (HKGTA) as planned. However, a group of HKGTA patrons is still pursuing ways to oppose the takeover, including writing to the Legislative Council Secretariat after filing complaints with the Consumer Council and the Customs and Excise Department under the Trade Descriptions Ordinance. “The transitional changes will proceed as planned on 8 August,” an insider familiar with the situation said. Rosewood had delayed the change of operator by two months from June. In what Rosewood called a rebranding of the Town Club, the planned takeover of operations emerged several months ago and angered a group of HKGTA members especially those with perpetual memberships.