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1. Hong Kong residential property upturn drives recovery in office, retail: Morgan Stanley

   Hong Kong’s property market is poised for a broad-based recovery as a strong upturn in the residential segment spills over to the struggling office and retail sectors, according to analysts. Morgan Stanley upgraded its forecast for the city’s home prices to a 12 per cent increase this year from 10 per cent previously and anticipated another 5 per cent rise in 2027, it said in a report on...

2. China says to ignore US sanctions even as Trump visit nears

   China ordered companies to ignore US sanctions against five oil refiners accused of buying Iranian crude, an unprecedented pushback against American financial measures less than two weeks before a presidential summit. The US action “violates international law and the basic norms of international relations”, China’s Ministry of Commerce said on Saturday. The sanctions cover a refinery in Dalian...

3. Can Malaysia’s Umno reclaim role as pillar of Malay political power with solo election bid?

   Malaysia’s Umno is making a heady gamble by planning to strike out on its own, experts say, as the former ruling party looks to rally support from among the country’s Malay-Muslim majority in preparation for national polls that must be called in less than two years from now. Umno President Ahmad Zahid Hamidi on Sunday said the Barisan Nasional (BN) coalition that the party led was “almost...

4. China, Indonesia launch cross-border QR payments – a boost for the global yuan?

   China and Indonesia have launched a new cross-border QR payment system, marking the latest step in Beijing’s drive to build a regional digital payments network as it pushes to internationalise the yuan and reduce dependence on the US dollar. Users can now use domestic mobile apps – such as China’s Alipay and Indonesia’s QRIS – to scan QR codes and make retail payments in either country using...

5. Hong Kong tax revenue jumps 22% to HK$458 billion

   Hong Kong’s overall tax revenue rose 22 per cent to HK$458.3 billion (US$58.5 billion) last year, driven by a buoyant stock market and increased property transactions. Commissioner of Inland Revenue Benjamin Chan Sze-wai announced on Monday the provisional tax figures for the year ending March 31. The increase was led by a 61 per cent surge in stamp duty to HK$102.6 billion, alongside a 20 per...

6. Driver arrested after wife killed in crash at Hong Kong border checkpoint

   A 67-year-old driver has been arrested after his vehicle reportedly lost control at a border checkpoint in a traffic accident that killed his 62-year-old wife. Police received a report at 4.41am on Monday that a private car had rammed into multiple traffic cones and a kiosk before coming to rest on its side on the Hong Kong-Zhuhai-Macau Bridge near 80 Shun Wan Road. The car, bearing the number...

7. Hong Kong media outlet cleared of tax evasion faces ‘unfair’ HK$40,000 costs

   A local online media outlet has been cleared of tax evasion after a year-long review, but the process still cost HK$40,000 (US$5,106) in accounting fees, the Hong Kong Journalists Association said on Monday. Describing the case as an “unfair punishment” on media with “zero fault”, the association said it had been required to prepay HK$730,000 in taxes this year, after also coming under review by...

8. How ‘lost’ Yiddish songs from a wartime ghetto in Ukraine revive links to Shanghai’s past

   Lost anti-fascist Yiddish language songs from World War II will be making their Asian debut this month. Yiddish Glory will be performing in Shanghai – a city where some 18,000 Jewish refugees found shelter from the Nazis – Hong Kong and in South Korea. The project is the brainchild of University of Toronto academic Anna Shternshis, who said Shanghai’s own history gave the choice of venue an...

9. AI cost-cutting not a legal excuse to fire workers, Chinese court says

   A court in China has ruled it illegal for a company to terminate an employee on the grounds that an artificial intelligence replacement would be cheaper, affirming limits on AI-driven job displacement amid a wave of anxiety over the technology’s potential to fuel unemployment. A 35-year-old worker surnamed Zhou who oversaw AI-generated responses at a fintech firm in Hangzhou, capital of east...

10. Drone hits upscale Moscow tower as Russian capital readies for Victory Day parade

    A drone hit a residential tower in an upscale Moscow district in a rare strike near the city centre ahead of the traditional World War II Victory Day parade. Moscow air defences repelled an attack by two Ukrainian drones, and one hit the building on Mosfilmovskaya Street, according to a post on Monday by Mayor Sergei Sobyanin. Emergency services were sent to the scene, and there were no reports...