AI ‘central plank’ in Hong Kong’s economic development, John Lee says

Hong Kong’s high-quality economic development will be guided by its first five-year blueprint and the coming policy address, with artificial intelligence (AI) as the “central plank”, the city’s leader has said.

Speaking at the South China Morning Post’s China Conference 2026 on Tuesday, Chief Executive John Lee Ka-chiu also said Hong Kong’s “one country, two systems” advantages and commitment to innovation and technology position the city to connect the world with opportunities


Tanker set ablaze after hit by projectile in Strait of Hormuz region

Vessels at the Strait of Hormuz, as seen from Musandam, Oman, on June 18. Photo: Reuters

An “unknown projectile” struck and caused a fire on an oil tanker off the coast of Oman near the Strait of Hormuz on Monday, British maritime security agency UKMTO said.

The incident occurred near one of the world’s most important energy shipping routes, despite a ceasefire between the United States and Iran and ongoing efforts to secure a lasting peace agreement.

The


Kuaishou shares tumble as Tencent slashes stake after US$3b Kling AI deal

Shares of Kuaishou Technology fell more than 6 per cent on Tuesday morning after Tencent Holdings slashed its stake in the short-video platform by selling 273 million Class B shares, just days after leading a US$3 billion financing round for Kuaishou’s artificial intelligence video unit, Kling AI.

The divestment will reduce Tencent’s shareholding in Kuaishou to 9.37 per cent from 15.68 per cent, meaning the tech giant would cease to be a substantial shareholder, according to a Kuaishou


Vandal demands peanut butter sandwich to end Australian bridge stand-off

Police believe the bridge climber is the serial vandal responsible for the Pam the Bird graffiti appearing across Melbourne

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A man gestures from the top of the eastern pylon of the Bolte Bridge in Melbourne on Tuesday. Photo: EPA
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SCMP’s China Conference to debut in Astana this September

The South China Morning Post will host its China Conference in Kazakhstan’s capital in September, following a high-level Hong Kong delegation led by the city’s leader to Central Asia last month, marking the first such event organised by a local media outlet in the region.

Announcing the move at the SCMP China Conference 2026 on Tuesday, publisher Tammy Tam said the event in Astana would enable participants to explore new opportunities while gaining first-hand experience of the dynamism in the fast-growing region.


Singapore’s Carousell hits profitability milestone, banks on AI as ‘force multiplier’

At Carousell’s Singapore office, a red tunnel greets employees with the company’s mission to “make second-hand the first choice” – a slogan its leaders say is moving closer to reality as the platform for buying and selling used goods recorded its first positive adjusted operating profit.

The Singapore-headquartered company, last valued at US$1.1 billion in 2021, said on Tuesday it had achieved positive Ebitda – earnings before interest, taxes, depreciation and amortisation – for the first time

A red tunnel greets employees at Carousell’s Singapore office, showing the company’s mission to “make second-hand the first choice”. Photo: Jean Iau

Bargain homes are to be had in New Zealand but here’s the catch: floods

Homes are submerged in a flood caused by Cyclone Gabrielle in Awatoto, near the city of Napier in New Zealand, on February 14, 2023. Photo: AFP

New Zealand ’s flood-prone homes are outperforming the rest of the country’s moribund housing market, as buyers chase lower prices and shrug off climate risks.
Properties facing the highest flood risk have gained 26.1 per cent in value since January 2020, compared with 19.8 per cent for homes with no exposure, property consultancy Cotality said in Wellington on Tuesday. Discounts of as much as NZ$
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China records most new unicorn start-ups in 5 years as AI and robotics boom

A man stands next to a poster of a humanoid robot during the China International Supply Chain Expo in Beijing on June 25, 2026. Photo: AFP

China’s innovation ecosystem has witnessed a resurgence, minting 67 new unicorn start-ups in the first half of 2026 – the biggest increase in almost five years – as AI and robotics kick off a new investment cycle.

The growth translates into an average of one new unicorn – private companies valued at US$1 billion or more – in less than every three days and was the highest since the second half of 2


Before we hail Hong Kong cinema’s return, let’s ensure its survival

A patron visits the “Hong Kong Film Archive Stories: Treasure Hunting for 25 Years” exhibition at the Hong Kong Heritage Museum. Photo: Karma Lo

Adam Au is the general counsel at a multinational corporation.

The Furious , Hong Kong’s latest action flick , is crushing it on Rotten Tomatoes and has garnered critical acclaim abroad – proof of what human-centric filmmaking can still deliver in today’s market. But before we rush to hail the return of Hong Kong cinema, a new breed of drama factory is quietly generating content at a velocity no human team could ever match.
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Australia’s Lynas partners South Korea’s JS Link for Malaysian magnet factory

The factory in Kuantan, which can produce 3,000 tonnes of magnets per annum, is expected to create ‌up to 400 jobs

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The Lynas plant in Pahang, Malaysia, processes 12 to 15 per cent of the world’s rare earth elements. Photo: Handout

Lynas Rare Earths said on Tuesday it had signed a partnership deal with South Korea’s JS Link to develop a magnet factory in Malaysia .
The Australian rare-earths producer will also supply materials to JS Link’s magnet factory in South Korea and the
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