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1. Delays, rising costs hit Asia’s trade as Gulf crisis spills beyond oil

   Malaysia’s busiest container port has started refusing Middle East-bound cargo unless shipping lines can guarantee prompt pickup, in one of the clearest signs yet that the Gulf crisis is working its way past oil and into the everyday trade that moves across Asia. Longer transit times, missed sailings and sharply higher insurance premiums are now rippling across the region’s logistics chain, with...

2. Why Hong Kong property recovery sceptics miss the bigger picture

   Hong Kong’s real estate market has come a long way in the past year. For a sign of the extent to which its outlook has improved, look no further than the rapid shift in expectations for the growth in house prices this year. As recently as January, Morgan Stanley characterised its prediction of a 10 per cent rise in secondary home values as a non-consensus call. Fast forward to today, and its...

3. Tsunami warning issued in Japan after magnitude-7.5 quake hits northeast

   A tsunami warning was issued for northeast and northern Japan after an earthquake with a magnitude of 7.5 struck at 4.53pm on Monday. The epicentre of the quake, which had a depth of 10km (six miles), was off the Sanriku Coast, The Japan News reported. Japan’s Meteorological Agency (JMA) issued a tsunami warning for Hokkaido, Aomori and Iwate prefectures, with waves as high as three metres (10...

4. China’s trade with Iran, Gulf states plunges as Strait of Hormuz crisis hits energy flows

   China’s trade with Iran and Gulf countries fell sharply in March as restrictions on the Strait of Hormuz tightened amid the US-Israeli war on Iran. Newly released data by Chinese customs showed imports from Iran plunged 48 per cent year on year last month, while exports to the country dropped 90 per cent. Across the broader Middle East, exports to eight Persian Gulf economies – including Saudi...

5. Asian financial bodies sound alert on Anthropic’s Mythos AI hacker

   Regulators across Asia are stepping up scrutiny of cybersecurity risks in their financial systems, as concerns over Anthropic’s latest AI model Mythos spread. Singapore’s financial regulator is urging banks to plug holes, while South Korea’s government agencies have met to review and discuss how to respond to the risks. In Australia, authorities expect lenders to be vigilant to ensure clients...

6. ESF administrator jailed for 25 months for accepting bribes to favour applicants

   A former kindergarten administrator at Hong Kong’s biggest international school group has been sentenced to 25 months in jail for accepting more than HK$640,000 (US$81,700) in bribes from 13 parents and a middleman to secure places by tampering with the admissions system. Fatima Rumjahn, 56, earlier admitted to accepting bribes ranging from HK$20,000 to HK$200,000 from parents eager to secure...

7. Hong Kong launches SkyCity marina project to drive tourism and yacht economy

   Hong Kong’s Airport Authority has launched its marina project as part of the broader SkyCity blueprint, seeking global interest from the yachting, hospitality and water sports sectors to help shape the 200-hectare (494 acres) development, with the first phase scheduled for completion in 2028. Cissy Chan Ching-sze, the authority’s commercial executive director, said on Monday that the development...

8. Vietnam and Philippines trust Japan. Why doesn’t Indonesia?

   For Southeast Asia, trust in Japan runs deepest where China presses hardest and breaks down where neutrality is a point of pride. Analysts say that dynamic, revealed in an annual survey released earlier this month, explains why Vietnam and the Philippines both see the East Asian nation as a trusted partner while Indonesia, a country that has long prized non-alignment, is uncomfortable with...

9. Is Malacca Strait at risk from Hormuz ‘chain reaction’ after warning from Iranian adviser?

   An adviser to Iran’s supreme leader Mojtaba Khamenei has warned of “a chain-reaction response” in more critical shipping lanes, including in the Malacca Strait in Southeast Asia, after Iran declared another full closure of the Hormuz Strait before a fragile ceasefire is due. “The era of imposing security from across the oceans has come to an end. Today, not only has the security of Hormuz and...

10. Pfizer, Amgen among 22 strategic firms eyeing Hong Kong expansion: source

    Global drug maker Pfizer and biotech firm Amgen, each valued at over HK$1 trillion (US$153 billion), are among 22 strategic enterprises planning to open or expand offices in Hong Kong, the South China Morning Post has learned. A source said on Monday that these industry leaders were among companies from the fintech, cloud computing and aerial transport sectors set to sign agreements with the...