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Is Hong Kong doing enough to lose its top spot for expensive housing?
Business

Is Hong Kong doing enough to lose its top spot for expensive housing?

For all the city’s recent successes, the benefits are not translating to more affordable lives for many Hongkongers We managed to keep our top spot despite a 10 per cent drop in property prices from pre-pandemic levels. Naturally, this is not something Chief Executive John Lee Ka-chiu will be blowing his horn about. Generations of Hongkongers have been priced out of the city’s property market. Wages have not kept up. In the Deutsche Bank report, we are ranked 30th out of 69 cities in terms of monthly salary. According to the annual Demographia International Housing Affordability Survey, it would take a household 14.1 years of income, without other expenses, to buy a median-priced home in Hong Kong. The city is at the top of that survey, too, holding the title of the world’s most unaffordable housing market for 16 straight years.

July 20, 2026
US ‘hit Iran very hard’, Trump says, as both inch closer to all-out war
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US ‘hit Iran very hard’, Trump says, as both inch closer to all-out war

The United States began a new round of air strikes early on Monday targeting Iran after announcing the death of another American service member, and Iran fired missiles towards Jordan that risked widening the conflict into neighbouring Israel. Step by step, the US and Iran have inched closer to all-out war as last month’s interim deal meant to permanently end the fighting has crumbled and shipping traffic in the Strait of Hormuz has largely stalled. Both sides have targeted civilian...

July 20, 2026
China court orders wedding party to pay US$34,000 after brutal bridesmaid prank
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China court orders wedding party to pay US$34,000 after brutal bridesmaid prank

Young woman in Henan suffers spinal fracture and becomes disabled after nuptial hazing activity goes wrong A 20-year-old woman from central China who served as a bridesmaid had one of her vertebrae fractured and became seriously disabled after a prank activity at a wedding. A court in Ruyang county, in Henan province, released its verdict on the case to the public in early July, aiming to raise awareness of the controversial wedding revelry, news portal gmw.cn reported. As part of nuptial ceremonies, wedding hazing, called hun nao in Chinese, dates back thousands of years, originally being intended to create a fun atmosphere and to expel evil spirits. Still popular in many parts of the country, it has drawn widespread criticism in recent years after the ritual has sometimes devolved into humiliation and even violence. Newlywed couples and bridesmaids are the main targets of the teasing. On October 4, 2023, the woman, surnamed Zhang, was invited to the wedding as a bridesmaid of the bride Li, who was her friend, and the groom.

July 20, 2026
Hong Kong prepares for sweeping reforms following end of Tai Po blaze inquiry
Business

Hong Kong prepares for sweeping reforms following end of Tai Po blaze inquiry

Political observers also expect senior officials, including ministers, to take accountability for blaze once committee submits report Hong Kong authorities are set to roll out sweeping reforms following the conclusion of the investigation into the city’s deadliest fire in decades, including criminalising bid-rigging and overhauling fire safety and property management laws. Political observers also expected senior officials, including ministers, to take accountability for the blaze once the committee submits its report, which sources said would be delayed by a month to late October due to the extra time needed to review documents. The inferno, which engulfed seven of the eight blocks in Wang Fuk Court in Tai Po on November 26 last year, killed 168 people and displaced nearly 5,000 residents. A focus of the inquiry was the alleged bid-rigging in the HK$336 million (US$43 million) maintenance project that was under way when the estate went up in flames. The substandard materials used in the renovations were found to have contributed to the exponential spread of the fire, while at least two bid-rigging syndicates were identified as “potentially linked” to the tender.

July 20, 2026
Red rainstorm warning lowered to amber but unsettled weather to persist
Business

Red rainstorm warning lowered to amber but unsettled weather to persist

Forecaster reissues amber warning at 9.30am, nearly 1½ hours after raising the red signal Hong Kong’s weather forecaster downgraded the red rainstorm warning to amber on Monday morning, but warned that unsettled weather would continue to affect the city over the next day. The Hong Kong Observatory reissued the amber rainstorm warning at 9.30am, nearly 1½ hours after raising the red signal at 8.05am. Authorities earlier urged schools to implement contingency measures to ensure students’ safety while the red rainstorm warning was in force. “Schools which are in session should continue until the end of school hours. They should ensure that conditions are safe before allowing students to return home,” it said. The forecaster added that a broad trough of low pressure would bring showers and thunderstorms to Guangdong on Monday and Tuesday. Conditions are expected to improve gradually in the middle to latter part of the week, with fine and very hot weather returning.

July 20, 2026
Beggar’s banquet: South Korea’s young consumers turn extreme budgeting into a game
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Beggar’s banquet: South Korea’s young consumers turn extreme budgeting into a game

South Korea’s youth unemployment rate reached 7.4 per cent in the first quarter of 2026 – the highest since 2021 Crowdsourced platform Geoji Map has turned the search for ultra-cheap meals into a viral online activity. Its name, which literally translates as “Beggar Map”, reflects a broader Korean slang trend of using “beggar” humour to describe surviving on a tight budget. The platform attracted 1.3 million visitors within a month of its March 20 launch by helping users locate low-cost meals, reflecting how some young people are reframing extreme frugality as a way to cope with mounting financial pressure. The economic strain comes as South Korea’s youth unemployment rate reached 7.4 per cent in the first quarter of 2026 – the highest since 2021 – while consumer inflation rose 2.2 per cent year on year in March. Geoji Map was created by 34-year-old software developer Choi Sung-soo after he lost his job in an AI-related restructuring. While living on his severance pay, Choi capped his daily food budget at 10,000 won and built the platform to help others facing similar constraints.

July 20, 2026
Ukraine blames Russia for deadly strike on Turkish cargo ship
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Ukraine blames Russia for deadly strike on Turkish cargo ship

Ukraine’s navy said 6 died when Russia launched cruise missiles at the Golden Leo as it was ‘leaving the combat zone with a cargo of grain’ Ukraine said on Sunday that Russian missile strikes on a Turkish-owned cargo ship carrying grain had killed six people, hours after Moscow fired a fresh barrage of missiles at Kyiv. Ukraine’s navy said Russia had launched three cruise missiles at the Golden Leo, which flies the flag of Guinea-Bissau, as it was “leaving the combat zone with a cargo of grain”. Foreign Minister Andriy Sybiga said the crew had included citizens of Syria and India, while Prime Minister Sergiy Koretsky said the vessel was struck near Odesa after leaving port. “Eight crew members were rescued. Two of them were injured. Unfortunately, as of now, six sailors are confirmed dead, and four more are missing,” Kyiv’s transport minister Mykola Kalashnyk said on Telegram. Sybiga confirmed a Ukrainian maritime pilot had been killed in the attack in a statement on X. “While the world is still responding to Russia’s brutal overnight attack on Kyiv, Moscow continues its campaign of terror throughout the day,” he added.

July 19, 2026
Ferry capsizes off Guyana, authorities searching for 66 missing passengers
Business

Ferry capsizes off Guyana, authorities searching for 66 missing passengers

Initial signs are that the ship flipped over after being hit by a big wave, Public Works Minister Juan Edghill said An ageing ferry carrying more than 100 people capsized off the coast of Guyana, with 67 saved and rescue teams searching for the rest, officials said on Sunday. The ferry MV Barima left the small English-speaking country at the northeast corner of South America on Saturday afternoon with 133 people aboard for a trip from the capital, Georgetown, to the town of Port Kaituma. Port Kaituma is inland in the oil-rich Essequibo region and the ferry travels along the coast in the Atlantic before heading upriver to reach its jungle destination. Initial signs are that the ship flipped over after being hit by a big wave, Public Works Minister Juan Edghill said on Facebook. “Search and Rescue Advancing. 67 persons, inclusive of 15 children rescued so far,” he said. Those rescued include 41 men, 11 women, six boys and nine girls, Prime Minister Mark Phillips said in a statement on Sunday.

July 19, 2026
US military reports another soldier killed in northern Iraq
Business

US military reports another soldier killed in northern Iraq

The service member was killed in Iraq on Saturday during the ‘controlled detonation’ of a downed Iranian drone, the US military said The US military on Sunday reported the death of another US soldier, bringing the total US military death toll in the Iran war to 17. In a post on social media, US Central Command (CENTCOM) said a soldier was killed in northern Iraq on Saturday during a controlled detonation of unexploded ordnance from a downed Iranian one-way attack drone. A second soldier sustained minor injuries and is continuing to receive medical treatment, it said. This came a day after the US military reported that two other soldiers had been killed during an operation in Jordan on Friday, marking the first reported US military fatalities since the latest escalation of the conflict with Iran. At the time, the military also said a third soldier was missing. On Sunday, it said unidentified human remains had been recovered following a thorough search of the site. An identification process is under way. According to US media reports, citing a US official, the remains are believed to be those of the missing soldier. Meanwhile in Bahrain, the interior ministry said overnight from Sunday to Monday that its air raid sirens had sounded.

July 19, 2026
Hong Kong’s 5-year plan will shore up market with governance and vision
Business

Hong Kong’s 5-year plan will shore up market with governance and vision

The government’s role is to reduce uncertainty through strategic direction, institutional coordination and infrastructure investment For Hong Kong, the purpose of a five-year plan is not to remake an open international city in the image of another development model. Rather, within the framework of “one country, two systems”, it is to place Hong Kong’s strengths, national strategic opportunities and local challenges within a coherent road map. Hong Kong’s past success rested on an open and flexible market, its free-port status and extensive links to global capital. Yet these advantages have been expressed mainly through its capacity to connect and allocate resources, rather than to create new economic structures. When land remains scarce, the industrial base is narrow and research outcomes struggle to reach the market, flexibility alone does not produce a new growth curve. This reflects what economist Douglass North described as path dependence. The more efficient a system becomes at performing its functions, the more its participants are incentivised to optimise them for short-term gain. Over time, the system can become locked into an established model, limiting its willingness to explore alternatives.

July 19, 2026
Israelis march to Gaza border demanding re-establishment of settlements
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Israelis march to Gaza border demanding re-establishment of settlements

‘We are walking today to tell the government of Israel and show all the world that this land belongs to us,’ one demonstrator said Thousands of Israelis, including settlers and right-wing activists, marched towards the border with Gaza on Sunday, calling on the government to re-establish Israeli settlements in the war-shattered Palestinian territory, an Agence France-Presse journalist reported. The demonstrators gathered near the border before walking in large numbers towards the fence overlooking northern Gaza, where Israeli security forces deployed to prevent participants from advancing further. Agence France-Presse footage showed marchers waving Israeli flags as soldiers and police blocked their access to the restricted area. “We are walking today to tell the government of Israel and show all the world that this land belongs to us and that Gaza really belongs to us and that we want to go back there,” said participant Daniel Sellem. Sellem said the march was intended to push the government to authorise a return to Gaza, more than two decades after Israel evacuated all settlements from the territory under a 2005 disengagement plan.

July 19, 2026
Fewer opportunities, less passion, no clue? How the US’ China expertise is fading
Business

Fewer opportunities, less passion, no clue? How the US’ China expertise is fading

As the United States marks the 250th anniversary of its founding, it confronts a new world order dominated by its relationship with China. In this wide-ranging series, we examine the pressure points and possibilities in those ties, from hard tech to soft power. Here, Meredith Chen looks at how tensions and shrinking academic exchange may be eroding America’s deep, experience-based understanding of China. Long before China could be studied through satellite images, social media, big data or...

July 19, 2026