1 hour ago Singapore must be Asia’s gateway, uphold social mobility at home: president

Singapore must remain a reliable base and a gateway to Asia’s dynamism in an increasingly divided world, while addressing social mobility and cohesion at home, President Tharman Shanmugaratnam said on Friday. Tharman, a former cabinet minister, was speaking at the opening of the 15th parliament in Singapore, during which the city state’s president addresses MPs on key issues in the fresh five-year term. He noted that the new parliament was opening amid a more fragmented world where economic...

Politics

2 h. ago Wall Street climbs to new highs on hopes of interest rate cuts

US stocks are rising to more records on expectations that the Federal Reserve will have to cut interest rates soon to help the economy. The S&P 500 climbed 0.4 per cent on Friday. The Dow Jones Industrial Average added 93 points, and the Nasdaq composite gained 0.7 per cent. The action was much stronger in the bond market, where Treasury yields tumbled following the latest weaker-than-expected update on the US job market. That raised expectations for a cut to rates by the Fed later this month....

Politics

3 h. ago Hiring stalls as US firms hold back expansion amid economic uncertainty

US employers added just 22,000 jobs last month as the labour market continued to cool under uncertainty over President Donald Trump’s economic policies. The Labor Department said on Friday that hiring decelerated from 79,000 in July and came in below the roughly 80,000 economists had expected for August. The unemployment rate ticked up to 4.3 per cent, also worse than expected and the highest level since 2021, the Labor Department reported on Friday. When the department put out a disappointing...

Economics

3 h. ago Europe’s summer from hell, China’s stablecoin dilemma: SCMP daily highlights

Catch up on some of SCMP’s biggest China stories of the day. If you would like to see more of our reporting, please consider subscribing. 1. Europe’s summer from hell bleeds into autumn as Trump and Xi turn the screws If Brussels’ bureaucrats returning from their long summer breaks this week were wondering what they missed, the local press had them covered. Unbecoming scenes at June’s Nato summit, the “hopelessly one-sided” trade deal with the United States in July, as well as Chinese President...

Politics

3 h. ago 1 person killed, 3 hurt in Xinjiang traffic accident involving Hong Kong tour group

One person has died and three others have been injured in a traffic accident involving a Hong Kong tour group in Xinjiang. The Travel Industry Authority said on Friday that it was notified by Travel Circle International on Wednesday that the tour group was involved in a traffic accident that day in the autonomous mainland Chinese region. The group, which included 20 tourists, departed on August 27 on an 18-day visit to Xinjiang. Four tourists from two families were injured, including one who...

Events

5 h. ago China’s ‘silent sanction’ on US semiconductors creates a weapons generation gap

In addition to the spectacle of Wednesday’s military parade in Tiananmen Square, with its rows of never-before-seen weapons and equipment, was a less visible but highly consequential shift. At its heart lies China’s growing dominance in gallium nitride (GaN) semiconductor technology, giving it a strategic advantage that is reshaping the global arms race, according to a report by the Chinese Academy of Sciences’ Institute of Physics. “Behind this technological advancement lies a ‘hidden thread’...

Events

6 h. ago Chinese public is divided over whether to seek global dominance or share leadership

Chinese public is divided over whether to seek global dominance or share leadership  NPR

Politics

6 h. ago Chinese delivery rider and biker face off for 4 hours at narrow crossing

A food delivery rider and a man on an electric bike in southern China blocked each other for at least four hours at a narrow crossing, as neither was willing to budge. Video clips of these two determined individuals went viral on mainland China, delighting millions of internet users, according to Dafeng News. The incident took place on August 24 in the bustling Huicheng District of Huizhou, Guangdong province. It involved a food delivery man and a young man, both perched on their electric bikes,...

Politics

7 h. ago Chinese man detained for ‘inappropriate comments’ about Victory Day parade

A man in the central province of Hubei was detained for allegedly making “inappropriate comments” about China’s Victory Day military parade and spreading rumours. According to cyber police in the city of Xiangyang, the 47-year-old man, surnamed Meng, made slanderous and derogatory remarks on Wednesday while commenting on a social media post about the parade held in Beijing to mark the 80th anniversary of the end of World War II. When others expressed patriotic sentiment, Meng “insulted them and...

Politics

7 h. ago I grew up in my family’s Chinese restaurant in Charlotte. Here’s where I actually eat.

I grew up in my family’s Chinese restaurant in Charlotte. Here’s where I actually eat.  Charlotte Observer

Society

8 h. ago Kenya’s plan to switch debt payments from US dollars to yuan is a ‘win

Kenya’s plan to convert its US dollar-denominated Chinese debt to yuan is a “win-win”, as it is expected to reduce interest payments for the African nation while advancing China’s goal of increasing the global use of its currency, according to analysts. The deal would be precedent-setting and could establish a new rule book for future debt restructuring and possibly cut reliance on the US dollar. In late August, Kenya’s Treasury announced that talks with the Export-Import Bank of China were at...

Economics

9 h. ago 512 arrests and 14 tonnes of drugs seized from Hong Kong’s cross

Authorities of Hong Kong, Macau and Guangdong province have called for increased joint operations to combat narcotics following their efforts over the past 18 months, which have resulted in the arrest of 512 people and the seizure of 14.4 tonnes (31,746lbs) of drugs. Officials from mainland China’s central and local anti-drug authorities warned on Friday that the fight against narcotics had become more severe and complicated, with new technologies and types of drugs emerging. Hong Kong hosted...

Events

9 h. ago Hong Kong IPO pipeline swells as Chinese tech listings lure global investors

More than 200 companies are awaiting approval for initial public offerings (IPOs) in Hong Kong, with about half coming from the technology sector, according to Hong Kong Exchanges and Clearing (HKEX) CEO Bonnie Chan Yiting. “Recently, many international long-term investors have actively participated in the IPO subscriptions of technology and innovation companies, reflecting strong global interest in China’s tech sector,” she said at HKEX’s Future Tech Summit on Friday. In the first eight months...

Economics

9 h. ago ByteDance moves chip staff to Singapore unit in internal rejig

ByteDance has transferred its semiconductor team, comprising about 1,000 employees, to an existing Singapore-incorporated subsidiary, Picoheart (SG) – a change that was reflected in the internal directory – according to the company and staff. The Beijing-based company notified affected employees last week about the transition and moved their internal messaging accounts on the enterprise collaboration tool Feishu – known internationally as Lark – to a separate entity this week, said a source who...

Politics

9 h. ago Chinese Funds Look to Beijing to Engineer Rally That Keeps Going

Chinese Funds Look to Beijing to Engineer Rally That Keeps Going  Yahoo Finance

Politics

11 h. ago 'It's Europe vs China' as Chinese brands crowd Munich car show

'It's Europe vs China' as Chinese brands crowd Munich car show  Reuters

Politics

11 h. ago Showtime: Money 20/20 Middle East puts fintech on its biggest stage yet

With groundbreaking collaborations and opportunities for multimillion-dollar deals, Saudi Arabia’s inaugural Money 20/20 Middle East event aims to solidify the kingdom’s status as the world’s premier gathering for anyone looking to stay ahead of the curve in the fast-moving fintech sector. Leading lights from the world of fintech and digital innovation will converge in Riyadh from September 15 to 17 for the event, which promises to set the global benchmark for the way enterprises and governments...

Economics

11 h. ago China’s Jiangsu Hengrui signs licensing deal with Braveheart Bio for heart drug

Jiangsu Hengrui Pharmaceuticals, a Chinese developer of novel drugs, could receive up to US$1.01 billion in milestone payments after granting a US company exclusive rights to develop a heart disease drug, the latest example of mainland drug makers licensing early-stage assets to international partners. Jiangsu Hengrui entered into a licensing agreement with one-year-old US start-up Braveheart Bio for its innovative drug HRS-1893 to treat obstructive hypertrophic cardiomyopathy, according to a...

Events

13 h. ago Trump threatens tariffs on chip imports from firms not producing in US

US President Donald Trump said on Thursday his administration would impose tariffs on semiconductor imports from companies not shifting production to the US, speaking ahead of a dinner with major technology company CEOs. Since returning to office in January, Trump’s threat of tariffs has alienated trading partners, stirred volatility in financial markets and fuelled global economic uncertainty. “Yeah, I have discussed it with the people here. Chips and semiconductors – we will be putting tariffs...

Politics

14 h. ago Chinese firms still want Nvidia chips despite Beijing concerns: sources

Alibaba Group Holding, ByteDance and other Chinese tech firms remained keen on Nvidia’s artificial intelligence chips despite regulators in Beijing strongly discouraging them from such purchases, four people with knowledge of procurement discussions said. They wanted reassurance that their orders of Nvidia’s H20 model, which the US firm in July regained permission to sell in China, were being processed, and were closely monitoring Nvidia’s plans for a more powerful chip, tentatively named the...

Politics