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News - South China Morning Post
  1. Mainland China’s population of ultra-high-net-worth individuals (UHNWIs) – those with assets exceeding US$30 million – has grown by 23 per cent over the past five years to 121,677, and is projected to expand a further 18.8 per cent to 144,602 by 2031, according to Knight Frank. Despite that growth, China’s share of global UHNWIs edged down by one percentage point to 17 per cent this year and was...
  2. In areas of southern Lebanon it has occupied since agreeing last week to a ceasefire with Hezbollah, the Israeli army has been destroying homes it says were used as outposts by the Iran-backed militant group. But the demolitions were happening on such a wide scale that residents, Lebanese officials and UN peacekeepers were increasingly worried that large numbers of people displaced by the latest...
  3. A court has convicted an Italian man of human trafficking by tricking a Singaporean woman into sex work in Dubai, after rejecting his defence arguments attacking the victim. Achraf Arjaouy, 31, had claimed trial to one count of recruiting a person by means of deception for the purpose of sexual exploitation in Dubai. The victim’s identity is protected by a gag order. The prosecution’s case was...
  4. Hong Kong’s MTR Corporation has unveiled its first wheelset maintenance centre, set to open in the coming months, cutting the time for the labour-intensive process from more than three days to 10 hours. The rail giant said on Thursday that the new HK$300 million (US$38.3 million) Integrated Wheelset Maintenance Centre, located at the Ho Man Tin siding, would be capable of processing 1,500...
  5. Tencent Holdings has released a new flagship artificial intelligence model, the first since former OpenAI researcher Yao Shunyu joined the Chinese tech giant to lead its foundational AI development efforts. The Shenzhen-based company said on Thursday that the open-source HY3 preview was its most powerful model yet, on par with leading Chinese models, while still lagging top US models from the...
  6. For years, Nasa funded a dream called SpiderFab – a spider-like robot that would crawl through orbit, weaving solar power stations and giant antennas from spools of carbon fibre – creating structures too large for any rocket to carry whole. Although SpiderFab never ended up in space, scientists from the Shenyang Institute of Automation in northern China say they have built the key technologies...
  7. A 74-year-old British grandmother who set off on a solo trip to China received an unexpected outpouring of support from Chinese netizens who took turns to guide her on her journey. The heartwarming story began with Xiao Yue, a senior university student from Hezhou in Guangxi Province, southern China, who first met the British grandmother while volunteering in Phuket. The woman, Gill, 74, has...
  8. The number of Chinese tourists deciding to travel during the five-day Labour Day holiday at the start of next month could rival or exceed last year’s headcount despite higher global fuel prices, analysts said, adding travellers were likely to prefer shorter trips to save on transport costs. Domestic flight bookings were up about 8 per cent year on year and domestic package-tour reservations were...
  9. Malaysia’s king said he would select a new anti-corruption chief, the first official confirmation that current head Azam Baki’s term will not be renewed when it ends next month. “I will determine who is the best candidate to lead the MACC from now on,” Sultan Ibrahim Iskandar of Johor, the current monarch, said in a social media post on Thursday, referring to the Malaysian Anti-Corruption...
  10. Mainland Chinese investors have slowed their purchases of Hong Kong-listed shares this year after last year’s record inflows, as more artificial intelligence investment opportunities have emerged in mainland markets, according to BNP Paribas. Southbound inflows via the Stock Connect cross-border system have reached about US$30 billion so far this year, a slower pace than 2025, when they hit...