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1. Fuel-thirsty UK relaxes Russian oil sanctions, leaving Ukrainians ‘very let down’

   The UK moved to loosen its Russian sanctions in a controversial move aimed at preventing shortages of diesel and jet fuel, as the war in Iran eats into global oil buffers. The move highlights how Britain has become more reliant on fuel imports than other major European nations, and has prompted political backlash over the government’s commitment to support Ukraine. The European Union is not...

2. Indonesia’s Prabowo tightens state grip on palm oil, coal amid monopolistic fears

   Indonesia will require exports of key commodities to pass through a state-appointed enterprise in a sweeping effort to curb revenue leaks, tighten oversight of natural resources and keep more foreign exchange earnings at home. The policy, announced by President Prabowo Subianto in a rare address to parliament on Wednesday, would apply to palm oil, coal and ferroalloys – three major export...

3. Beijing slams Lai as ‘destroyer’ of peace after leader’s anniversary speech

   Beijing has accused Taiwanese leader William Lai Ching-te of “destroying cross-strait peace” shortly after he gave a speech to mark his second anniversary in power in the wake of Donald Trump’s remarks on Taiwan independence. The State Council’s Taiwan Affairs Office (TAO) said on Tuesday that Lai’s anniversary speech and his subsequent remarks to reporters were filled with “lies and deception,...

4. Japan feels the squeeze as China’s rare earth magnet exports only partly recover

   China’s exports of rare earth permanent magnets to Japan slightly rebounded in April after slumping the previous month, but Japanese firms warn they are facing “severe” shortages as a diplomatic row between Beijing and Tokyo grinds on. Shipments of permanent magnets from China to Japan rose by 2.5 per cent in April compared with the previous month, according to Chinese customs data released on...

5. Hong Kong minister touts gold as ‘bridge between conventional and new finance’

   Gold can serve as a “potential bridge” between conventional and new forms of finance, Hong Kong’s treasury minister has said, highlighting the need for the city to provide more opportunities for the digital asset market to grow. Secretary for Financial Services and the Treasury Christopher Hui Ching-yu also said on Wednesday that Hong Kong had opted against forming a separate regulatory...

6. Malaysia’s ruling coalition committed to staying united until ‘end of its term’: minister

   Malaysia’s unity government will remain intact until the end of its term amid speculation of snap elections, according to Communications Minister Fahmi Fadzil. “Barisan Nasional, Gabungan Rakyat Sabah and Gabungan Parti Sarawak have given their commitment that they will support this government till the end of its term,” Fahmi said on Wednesday after a cabinet meeting. “This commitment reflects...

7. How China and Russia could team up to shift global science ‘centre of gravity’

   Cooperation between China and Russia on science and technology could help stop US isolation and allow the international science community to “return to normalcy” amid geopolitical tensions, according to experts in the US and Russia. It could also offer the world an alternative model of scientific collaboration and signal a shift in the scientific “centre of gravity” from the West to the East. As...

8. Trump’s H-1B visa squeeze paves way for Indian tech exodus

   For generations of Indian tech workers, the H-1B visa has been a golden ticket, turning ambitious engineers from Hyderabad and Bengaluru into Silicon Valley professionals, as it transformed Indian IT firms into global powerhouses. Now, a Trump administration proposal to sharply raise the minimum salaries required to qualify for the programme threatens to close that door to the United States,...

9. Jensen Huang’s visit to China spicy noodle shop prompts launch of ‘leather jacket’ set meal

   A noodle shop in downtown Beijing went viral on social media after billionaire Jensen Huang paid it a visit, prompting the outlet to launch a “God of War in leather jacket” set menu the next day. On May 15, the Nvidia CEO was spotted holding a large bowl of noodles and using chopsticks to wolf down food outside Fangzhuanchang No 69 Beijing Fried Sauce Noodles shop in the Nanluogu commercial area...

10. EU picks tungsten, rare earths, gallium for first critical mineral stockpile

    The ⁠European Union has shortlisted ⁠tungsten, rare earths and ⁠gallium for its first joint stockpile of critical minerals aimed at reducing its reliance on China, according to three sources familiar with the matter. The EU is also talking to major ports ‌including Rotterdam in the Netherlands, the region’s biggest, to store the minerals, one of the three and a fourth source said. The move marks...