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  1. Russia is considering fuel imports ‌and corresponding subsidies to cap prices as ways to mitigate supply disruptions of petrol and diesel caused by Ukrainian strikes on oil refineries, Vedomosti daily reported on Tuesday, citing two unnamed sources. Numerous regions across Russia, the world’s third-largest crude oil producer, have reported restrictions on fuel sales, rising prices of oil...
  2. China’s industrial overcapacity should not be singled out for blame amid trade imbalances, as economies worldwide are struggling to adapt to shifts in the global economy, contributing to mounting pressures, a prominent Chinese scholar said in comments directed at the United States. “The reason why our imbalance is becoming a bigger problem is that the rest of the world is having a bigger problem...
  3. The son of a former mainland Chinese official has been remanded in custody in Hong Kong pending sentence for laundering more than HK$64 million, including a 4 million yuan bribe his father allegedly sought from a merchant a decade ago. Xiao Rui, 37, will also be penalised for using bogus bank records to deceive the Immigration Department into granting him the right of abode in Hong Kong through...
  4. Hong Kong’s lawmaker for the sports sector has urged authorities to focus on ensuring fair access to AI rather than attempting to restrict its use, arguing that the technology has increasingly reshaped athlete development and competitions. Speaking at a World Economic Forum panel in mainland China’s Dalian on Tuesday, Kenneth Fok Kai-kong said that artificial intelligence (AI) was transforming...
  5. China has built the tallest environmental observation tower in the South China Sea, the country’s meteorological administration has said. Standing at 100 metres (330 feet) tall, the tower is almost three times higher than the previous tallest structure in the South China Sea and built to withstand super typhoons with wind speeds of over 200km/h (125mph), heavy waves, high humidity and high...
  6. China’s crackdown on cross-border securities trading could strengthen – rather than diminish – Hong Kong’s financial role, according to economists, as Beijing steers more capital through official channels and reinforces the city’s status as an offshore yuan hub. “I would argue that these moves make the importance of Hong Kong even bigger,” Diana Choyleva, founder and chief economist at Enodo...
  7. At the recent Brussels summit, the leaders of all 27 European Union states called on the European Commission to expand the bloc’s trade defence toolbox against “global macroeconomic imbalances”, widely understood to refer to China’s so-called overcapacity. Measures under discussion include mechanisms for sector-wide tariffs and other restrictions in industries such as chemicals and green...
  8. Former Scottish National Party chief executive Peter Murrell was jailed for just over five years on Tuesday after admitting embezzling more than £400,000 (US$540,000) of party funds to buy items such as ‌cars, a motorhome and luxury goods. Murrell, 61, is the estranged husband of ex-SNP leader Nicola Sturgeon, who suddenly resigned in 2023, shortly before she was arrested as part of the probe...
  9. China’s first aircraft carrier tried new tactics in its latest drill – including working with land-based tanker aircraft and coordinating with an amphibious assault ship – amid a push to strengthen military combat capability. The Liaoning aircraft carrier strike group returned to its home port in Qingdao on Monday after completing more than 40 days of far-sea combat training, according to state...
  10. Malaysia’s rare postponement of a meeting of its royal council has pushed a throne dispute in the state of Negeri Sembilan beyond palace walls, threatening to turn a customary succession row into an electoral liability for Prime Minister Anwar Ibrahim’s uneasy governing alliance ahead of snap polls. The June 23–25 meeting of the Conference of Rulers – a council of Malaysia’s hereditary Malay...