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1. Proposals on territorial concessions by Ukraine sent to Trump, Germany’s Merz says

   German Chancellor Friedrich Merz said on Thursday that US President Donald Trump had been sent a proposal on territorial concessions Ukraine is ready to make to end its war against Russia. Merz said the proposal was sent after he and other European leaders had spoken by phone with Trump on Wednesday. “It mainly concerns the question of what territorial concessions Ukraine is prepared to make,”...

2. Adrian Cheng signs retail partnership with Wafi Group, headed by Dubai royal

   Adrian Cheng Chi-kong, former heir apparent to Hong Kong property giant New World Development (NWD), has partnered with a Dubai royal and businessman to spruce up the retail, leisure and cultural offerings of Wafi City, one of the United Arab Emirates (UAE) city’s top shopping destinations. Cheng and Dubai Sheikh Mana bin Khalifa Al Maktoum, founder and chairman of the Wafi Group, signed an...

3. Owners’ corporation of Hong Kong estate destroyed in fire to oust contractor

   The owners’ corporation of Wang Fuk Court, the residential estate in Hong Kong destroyed in last month’s catastrophic fire in Tai Po, is seeking to oust the contractor and consultant responsibile for its renovation project after arrests of their staff for alleged manslaughter and corruption. Meanwhile, the Fire Services Department revealed on Thursday that it had conferred the honorary title of...

4. US military sends show of support to Japan as China’s navy, air drills continue

   US bombers and stealth fighters took part in a joint military exercise with Japan on Wednesday while an American aircraft carrier arrived at a Japanese port on Thursday, in a show of force amid heightened tensions between Beijing and Tokyo. Japanese Self-Defence Forces (SDF) and the US military conducted the exercise “amid an increasingly severe security environment surrounding Japan”, Tokyo’s...

5. AI race: Meta reported to use Alibaba’s Qwen for ‘Avocado’ model in likely win for China

   American tech giant Meta Platforms is reportedly using an open-source artificial intelligence model developed by Alibaba Group Holding to reinvigorate its faltering AI efforts in another likely win for Chinese AI. According to a Bloomberg report on Wednesday, Facebook owner Meta was using Alibaba’s Qwen model, along with other open-source models from Google and OpenAI, as part of the training...

6. Trump’s tariffs cost US households US$1,200, Democrats claim

   Sweeping taxes on imports have cost the average American household nearly US$1,200 since Donald Trump returned to the White House this year, according to calculations by Democrats on Congress’ Joint Economic Committee. Using Treasury Department numbers on revenue from tariffs and Goldman Sachs estimates of who ends up paying for them, the Democrats’ report on Thursday found that American...

7. Indonesia closes door on Airbnb ban after Bali governor seeks to curb unlicensed rentals

   Indonesia has confirmed it will not ban holiday rental platform Airbnb after Bali said it was considering doing so to curb unlicensed hotels and villas that have mushroomed on the island. The split underscores the growing tension between Bali’s push to rein in illegal accommodations and Jakarta’s preference for regulation over platform bans. Analysts also say that a ban on Airbnb alone would not...

8. Malaysia sees alarming spike in youth bankruptcies as debt rises and wages stagnate

   Fatin Anuar never imagined that managing just two credit cards would leave her battling months of financial anxiety. The 25-year-old customer service worker in Kuala Lumpur initially saw them as a buffer for day-to-day spending and emergencies. It felt like a smart way to manage cash flow, she said, but the bills began creeping up until the debt felt like “a weight”. “It kind of snuck up on me....

9. As more department stores in Singapore struggle, can they adapt and survive?

   Retired regional human resources director Helen Kuan typically spends this time of year picking up Christmas presents from her usual department store haunts around Singapore. But her options are becoming more limited as more of these one-stop stores have been shuttering in recent years. On Monday, shopping centre NEX, located in the northeast of Singapore, announced that Japanese brand Isetan...

10. China husband seeks help after late wife’s virtual house ‘legacy’ in video game was torn down

    A Chinese man has sought help from a mobile game to restore the virtual house his late wife built so that he can continue remembering her, moving many people online. The Beijing man posted under the handle @chuwengeileyan on November 26 that the virtual houses he and his wife built in the game ShanHai suddenly disappeared. ShanHai is an open-world survival crafting game based on the ancient...