4 h. ago Harvard scores big win over Trump as judge overturns billions in funding cuts

A federal judge in Boston on Wednesday ordered the reversal of the Trump administration’s cuts to more than US$2.6 billion in funding for research grants for Harvard University. US District Judge Allison Burroughs sided with the Ivy League school, ruling the cuts amounted to illegal retaliation for Harvard’s rejection of White House demands for changes to its governance and policies. The ruling delivers a significant victory to Harvard in its battle with the Trump administration, which has also...

Politics

42 h. ago Sinking fund: Philippines lost up to US$2 billion in 2 years to flood corruption

The Philippines loses up to 70 per cent of government funds for flood-control projects to corruption, with losses as much as US$2 billion crimping economic growth in the past two years, according to a top official. Average economic losses from corruption in flood control projects under the Public Works Department reached about 42.3 billion pesos (US$738 million) to 118.5 billion pesos from 2023 to 2025, Finance Secretary Ralph Recto said at a Senate budget hearing on Tuesday. The estimate was...

Events

64 h. ago Chinese humanoid robot maker UBTech gets US$1 billion funding boost

UBTech Robotics, a leading Chinese manufacturer of factory robots, has secured a credit line of up to US$1 billion from a Hong Kong investment firm to finance its production expansion, including a joint venture in the Middle East. The Hong Kong-listed company said in an exchange filing on Sunday it would receive funding from Infini Capital, an investment conglomerate headquartered in Hong Kong and Abu Dhabi. The support would come through share allocations, convertible bonds and expedited...

Economics

4 d. ago Hong Kong’s eMPF could save US$6.5 billion for members in 10 years: regulator

The 4.75 million members of Hong Kong’s Mandatory Provident Fund (MPF) could save up to HK$50 billion (US$6.4 billion) in fees over a 10-year period after its electronic platform’s full implementation next year, according to the city’s retirement schemes regulator. The Mandatory Provident Fund Schemes Authority (MPFA) revised its original estimate made a few years earlier of HK$30 billion to HK$40 billion in savings from fee reduction because the digital platform, called eMPF, worked better than...

Economics

1 week ago Prabowo’s silence deepens doubts over Indonesia’s new capital

Nusantara was meant to embody Indonesia’s future: a green, modern capital rising from Borneo’s forests. But amid funding cuts and political indifference, the US$28.6 billion project risks becoming a costly monument to unfinished ambition. The eventual plan? Moving the seat of government there from Jakarta. But this is now clouded by uncertainty after President Prabowo Subianto made no meaningful mention of the city in recent speeches. Officials insist the project remains on track, but analysts...

Politics

1 week ago Malaysia’s new weapon in war against corruption: comic books for preschoolers

Malaysian children as young as four will be given comics on the evils of corruption, as the country’s anti-corruption commission turns to live-streamed court cases, films of scandals and other media outreach to expunge a scourge that is rooted deep in the nation’s society and politics. Corruption dogs the reputation of the Southeast Asian nation, which has seen a succession of former prime ministers implicated in the theft of public funds running into billions of dollars. Perhaps the most...

Events

1 week ago ‘Play offence’: Trump hints Ukraine should widen attacks on Russia

US President Donald Trump insinuated in a social media post that he is open to Ukraine launching more attacks on Russia, as the White House looks to pressure Russian President Vladimir Putin to agree to a one-on-one meeting with Ukrainian President Volodymyr Zelensky. “It is very hard, if not impossible, to win a war without attacking an invaders country,” Trump wrote. “It’s like a great team in sports that has a fantastic defence, but is not allowed to play offence. There is no chance of...

Politics

2 w. ago Funds With $617 Billion Turn Less Bearish on China, Survey Shows

Funds With $617 Billion Turn Less Bearish on China, Survey Shows  Bloomberg.com

Economics

2 w. ago China’s Nvidia challenger Cambricon to raise US$560 million for AI chip work

Chinese semiconductor firm Cambricon Technologies, seen as a potential future challenger to Nvidia, plans to raise nearly 4 billion yuan (US$560 million) for AI chip development, boosting its standing in the country’s tech self-sufficiency drive. In a statement on the weekend, Cambricon said the Shanghai Stock Exchange had given the go-ahead for its 3.98 billion yuan fundraising plan, which is pending approval from the China Securities Regulatory Commission. The move comes after its stock price...

Economics

2 w. ago Kevin O'Leary Says Nvidia, AMD Still Win Under Trump China Plan Despite 15% 'Form Of Blackmail' Levy

Kevin O'Leary Says Nvidia, AMD Still Win Under Trump China Plan Despite 15% 'Form Of Blackmail' Levy  Yahoo Finance

Politics