At Summer Davos in China, Mideast firms look to next generation to repair the Gulf

China may be seen as a potential mediator in the Middle East but economic integration within the region is more likely to drive change there, according to observers at the World Economic Forum’s annual meeting in the northeastern Chinese city of Dalian.

The “Summer Davos” gathering in Liaoning province this week comes as Washington and Tehran try to reach agreement on Iran’s nuclear programme and the reopening of the Strait of Hormuz.

Corporate leaders at the meeting said that with the wartime destruction, there was a massive need to rebuild


29 arrested in crackdown on loan sharks who charged victims 3,000% in interest

Police said they seized HK$300,000 in cash during the operation. Photo: Handout

Hong Kong police have arrested 29 people in a crackdown on a loan-sharking and money‑laundering ring that charged victims annual interest rates as high as 3,000 per cent.

Police said on Wednesday that the syndicate had set up a secret call centre in Tsuen Wan and posed as licensed finance companies, randomly phoning people in an attempt to lure


Singapore aims to lead Asia’s wellness race with US$770 million complex

The seven-storey Therme Singapore complex is expected to spearhead the country’s wellness sector. Photo: Handout

As Singapore bets on becoming Asia’s leading wellness destination, tourism experts say the city state must prove that its attractions can draw international visitors in a region replete with spas, retreats and hot springs.

A S$1 billion (US$770 million) waterfront complex scheduled to open in 2030 is expected to be a major driver of the country’s wellness sector.

European developer Therme Group is slated to start


Reducing fire risk to zero would cost huge amount, Tai Po blaze inquiry hears

Richard Yuen, chair professor of architectural engineering at City University. arrives at City Gallery in Central on Wednesday. Photo: Edmond So
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How Indonesia’s coal policies left its own citizens in the dark

This Week in Asia Economics

Hours-long blackouts since last week have disrupted the lives and businesses of millions of subscribers of state-owned utility firm PLN in Java

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Barges are loaded with coal on the Mahakam River in Samarinda, East Kalimantan, Indonesia, in 2022. Photo: AP

A wave of power outages across Indonesia ’s Java island has left millions of residents and business owners in the dark, igniting public fury and raising questions as to how the world’s largest coal exporter is failing to keep its own lights on

China’s telecoms giants bet on ‘air-space-ground-sea’ networks for future AI needs

China’s telecoms giants are pushing for “air-space-ground-sea” networks amid Beijing’s push to expand artificial intelligence infrastructure, as SpaceX’s market debut has ignited the industry’s focus beyond the Earth.

At the opening of the Mobile World Congress (MWC) Shanghai on Wednesday, telecommunications executives framed the next phase of infrastructure as one that needs to encompass both the skies and oceans to meet skyrocketing demand for AI computing.

Wang Tao, rotating chairman of Huawei Technologies, said that as

Huawei rotating chairman Wang Tao speaks during the opening ceremony of MWC in Shanghai on Wednesday. Photo: AFP

Ukraine drones knock out power in Russia-held Crimea’s biggest city

World Russia & Central Asia

Trolleybuses were not operating in Sevastopol and children should remain at home, the governor said, amid more strikes on energy facilities

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Drone footage shows fire and smoke rising from a bridge, which Ukraine's military says was destroyed by them, near Rozdolne, Crimea, in this screengrab from a handout video released on Tuesday. Photo: Reuters

Ukrainian drones knocked out power in Sevastopol, the biggest city in Russian-held Crimea, on Wednesday and targeted facilities in central and southern Russia, local officials said, underscoring the reach of Kyiv’s attacks on energy infrastructure.

Ukraine has intensified strikes on Russian

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Morgan Stanley raises China humanoid robot shipment forecast to 50,000 units

Morgan Stanley has again raised its forecast for China’s humanoid robot shipments this year, lifting its estimate to 50,000 units from 28,000 as commercial validation, policy support and supply-chain momentum accelerate adoption.

The investment bank had already doubled its projection to 28,000 units in January. In a report published on Tuesday, it said the latest upgrade reflected a growing number of Chinese companies, including electric-vehicle maker Xpeng, announcing plans for mass production

Xpeng’s humanoid robot Iron is displayed during the Auto Shanghai show in Shanghai. The company plans to begin mass production of the model by the end of 2026. Photo: Reuters

China targets face of international space cooperation in corruption crackdown

Bian Zhigang was appointed deputy head at the State Administration of Science, Technology and Industry for National Defence in February 2024. Photo: VCG via Getty Images

Senior Chinese defence industry official Bian Zhigang is under investigation for corruption, the latest high-profile target in Beijing’s sweeping crackdown on its military sector.

Bian, deputy head of the State Administration of Science, Technology and Industry for National Defence (SASTIND), was suspected of “serious violations of discipline and law”, the Central Commission for Discipline Inspection (CCDI) said on Wednesday, using its usual term for corruption and bribery.

Hong Kong records 91 suspected student suicides in 3 years, majority boys

An exhibition by the Hong Kong Student Alliance on Student Suicide uses a scale to demonstrate the reasons why student take their lives. Photo: William Yiu

Hong Kong education authorities have revealed that 91 students were suspected to have died by suicide between 2023 and 2025, with most cases involving secondary school students and boys.

The Education Bureau told lawmakers on Wednesday that the numbers of suspected fatal cases among primary and secondary students were 32 in 2023, 28 in 2