🔥 Top Stories
The escalating Middle East conflict is directly impacting China's sulphur imports, a key raw material for fertiliser production. China relies on imports for 47 per cent of its sulphur supply, with significant sourcing from the Persian Gulf. The effective closure of the Strait of Hormuz is driving up sulphur prices and tightening supplies as the country enters its critical spring planting season, expanding the economic fallout from the conflict.
Energy experts, including Zhang Shishu, chief technical expert at China's state-owned PowerChina, have called for building an underground network across western China to protect key energy and defence facilities. The proposal aims to embed critical infrastructure deep beneath the Earth's surface for enhanced security and reduced detectability, while securing long-term energy reserves and strengthening national crisis resilience.
Hong Kong's Financial Secretary Paul Chan Mo-po said the city will seize opportunities from China's 15th five-year development plan for 2026-2030, describing it as a "golden strategic period." Chan pledged to adopt "Artificial Intelligence+" and "Finance+" approaches to support mainland China's development amid escalating geopolitical tensions, highlighting significant potential for Hong Kong's growth.
Israel conducted airstrikes on an oil storage facility in Tehran late Saturday, confirmed by Iranian state media. Israeli military confirmed new strikes targeting eastern and southern neighborhoods of Tehran. Prime Minister Netanyahu pledged 'many surprises' in the coming phase of the week-long conflict. Video footage showed flames rising above the facility as the horizon glowed against the night sky.
Iran launched new missile and drone attacks on Gulf countries Saturday. Explosions were reported in Dubai, Doha, and Bahrain, with subsequent attacks in the UAE, Saudi Arabia, Qatar, and Kuwait. Kuwait's national oil company announced precautionary production cuts. The attacks occurred despite Iran's president apologizing to Gulf nations earlier, stating strikes would cease, contradicting Iran's subsequent vow to continue regional strikes.
🏛 Politics
Analysts warn that water, rather than oil, may be the most vulnerable resource in the energy-rich but arid Persian Gulf region as missiles and drones disrupt energy production. Hundreds of desalination plants along the Persian Gulf coast supply water to millions of people. In Kuwait, approximately 90 percent of drinking water comes from desalination facilities, making these systems critical infrastructure for major cities.
Energy experts, including Zhang Shishu, chief technical expert at China's state-owned PowerChina, have called for building an underground network across western China to protect key energy and defence facilities. The proposal aims to embed critical infrastructure deep beneath the Earth's surface for enhanced security and reduced detectability, while securing long-term energy reserves and strengthening national crisis resilience.
Hong Kong's Financial Secretary Paul Chan Mo-po said the city will seize opportunities from China's 15th five-year development plan for 2026-2030, describing it as a "golden strategic period." Chan pledged to adopt "Artificial Intelligence+" and "Finance+" approaches to support mainland China's development amid escalating geopolitical tensions, highlighting significant potential for Hong Kong's growth.
Vietnam's new artificial intelligence law took effect on Sunday, introducing a risk-tiered classification model for AI systems. The legislation requires both local and foreign AI providers operating in the country to comply with binding regulations. Analysts view this as Southeast Asia's first major test of whether governments can transition from voluntary guidelines to enforceable regulatory frameworks, potentially reshaping regional AI deployment practices.
Lebanon's health ministry reported Sunday that an Israeli strike on a central Beirut hotel killed at least four people. Israel stated it targeted Iranian Revolutionary Guards commanders. Lebanon became involved in the Middle East conflict when Iran-backed Hezbollah attacked Israel in response to the killing of Iranian Supreme Leader Ayatollah Ali Khamenei. Despite a 2024 ceasefire agreement, Israel has continued launching strikes against Hezbollah.
Chinese Foreign Minister Wang Yi held a press conference during China's annual "two sessions" to outline Beijing's foreign policy direction. The high-profile briefing addressed multiple international issues including Trump's visit, Iran, great power relations, and Taiwan. The press conference represents one of the most-watched events during the annual parliamentary meetings, reflecting China's policy positions amid current global circumstances.
Gulf nations including Saudi Arabia, Qatar, and Kuwait reported missile and drone attacks on Sunday as regional conflict entered its second week. Iran pledged to continue strikes against neighboring countries. Qatar's defense ministry reported 10 ballistic missiles targeted the country on Saturday. Kuwait's national oil company announced precautionary production cuts. Explosions were also heard in Dubai and Manama, Bahrain.
Israel conducted airstrikes on an oil storage facility in Tehran late Saturday, confirmed by Iranian state media. Israeli military confirmed new strikes targeting eastern and southern neighborhoods of Tehran. Prime Minister Netanyahu pledged 'many surprises' in the coming phase of the week-long conflict. Video footage showed flames rising above the facility as the horizon glowed against the night sky.
Iran launched new missile and drone attacks on Gulf countries Saturday. Explosions were reported in Dubai, Doha, and Bahrain, with subsequent attacks in the UAE, Saudi Arabia, Qatar, and Kuwait. Kuwait's national oil company announced precautionary production cuts. The attacks occurred despite Iran's president apologizing to Gulf nations earlier, stating strikes would cease, contradicting Iran's subsequent vow to continue regional strikes.
US President Donald Trump on Saturday urged Latin American nations to use military force against drug trafficking organizations and offered US missile strikes targeting narco leaders. Trump characterized communist-led Cuba as being in its final days and advocated tough action by allied nations against organized crime affecting the region, reflecting Washington's muscular approach to advancing its interests in the Western Hemisphere.
💰 Finance
Hong Kong and Singapore are vying for the position of the world's gold trading hub. Hong Kong has emphasized developing a gold trading ecosystem in its recent government budget, while Singapore is actively courting major global institutions. Experts suggest Hong Kong holds a competitive advantage due to its access to China's robust market. Both cities are advancing measures to establish more comprehensive gold trading infrastructure.
The escalating Middle East conflict is directly impacting China's sulphur imports, a key raw material for fertiliser production. China relies on imports for 47 per cent of its sulphur supply, with significant sourcing from the Persian Gulf. The effective closure of the Strait of Hormuz is driving up sulphur prices and tightening supplies as the country enters its critical spring planting season, expanding the economic fallout from the conflict.
The Mandatory Provident Fund Authority (MPFA) is considering raising contribution thresholds that have remained unchanged for 13 years. MPFA chairwoman Ayesha Macpherson Lau announced in her blog that the authority has been consulting stakeholders since February on adjusting the minimum and maximum income levels used to calculate contributions. The potential adjustment could require both workers and employers to contribute more to the pension fund.
India's economy has undergone significant transformation over the past decade. Traditional low-cost back-office services have been replaced by high-end talent centers where employees perform high-value work in IT, data analytics, innovation, and design. These emerging centers represent the most dynamic part of India's economy, yet the benefits of economic growth remain unevenly distributed across the population.
Following the outbreak of the US-Israel-Iran conflict, Hong Kong entrepreneurs with Middle East operations are reassessing their global business strategies. Companies are developing contingency plans to pivot toward Europe or Southeast Asia, aiming to mitigate geopolitical risks and maintain supply chain stability. The escalating regional tensions have prompted firms to de-risk their portfolios and hedge against potential losses.
The escalating US-Iran conflict is creating ripple effects across global supply chains beyond energy markets. Chinese retail investors are raising concerns about potential disruptions to essential commodities including saffron, fertilizers, and pharmaceutical products. The geopolitical tensions are prompting questions from investors about how the conflict could impact imports and commodity availability in multiple sectors.
Rising oil prices triggered by Middle East geopolitical tensions are accelerating electric vehicle sales across Southeast Asia. A Bangkok car dealership manager reports a surge in cash buyers seeking EVs, driven by concerns over diesel supply and fuel price increases. Consumers who previously had no intention of purchasing electric vehicles are now switching due to fears of fuel unavailability and escalating costs, marking a significant shift in the region's automotive market.
Hong Kong's taxi industry is transitioning from cash-only to electronic payment systems. Service providers report that approximately 90 percent of taxi drivers have already adopted e-payment solutions. The shift will end the traditional "keep the change" culture in the industry. According to Chau Kwok-keung, chairman of the Hong Kong Taxi and Public Light Bus Association, drivers are installing e-payment tools ahead of the April 1 deadline for mandatory digital settlements.
Suburban outlet stores are expanding rapidly across mainland China, becoming a bright spot in the struggling retail property sector. Consumers like 40-year-old Beijing office worker Steven Zhou prefer outlets for their wide brand selection, attractive discounts, convenient parking, and escape from urban congestion. Meanwhile, traditional and luxury malls face mounting challenges with high vacancy rates. The outlet model's discount-driven approach is reshaping China's retail landscape.
Financial Secretary Paul Chan Mo-po presented his latest budget on February 25. Under his decade-long stewardship, Hong Kong has navigated multiple economic shocks and recently achieved a growth rate of 3.5 percent. However, significant challenges remain: addressing the city's structural fiscal deficit in its capital account while securing adequate resources for future development amid an increasingly volatile global environment.
🎬 Entertainment
Megan Worthy, 58, who has a rare form of early-onset dementia affecting her vision and brain functions, participates in a singing group at the Concertgebouw concert hall in Amsterdam. She sings alongside her daughter Bronte and other individuals with neurological conditions. The activity reconnects her with her musical past from her youth in Canberra, Australia, offering therapeutic benefits to dementia patients through music engagement.
Ramadan bazaars in Putrajaya attract crowds of office workers and families during the evening hours. As fasting Muslims break their dawn-to-dusk fast, they flock to bustling markets filled with traditional snacks, colorful beverages, and grilled meats. These seasonal bazaars represent a significant portion of annual income for many vendors, highlighting the economic importance of Ramadan commerce in Malaysia.
From the 18th century onwards, female authors achieved unprecedented prominence in both Western and Chinese literature. In Qing-era China (1644–1912), the rise of significant women writers was driven by Dream of the Red Chamber, an 18th-century masterpiece by Cao Xueqin. Widely considered the pinnacle of Chinese fiction and one of the four great classical novels, this work significantly influenced the development of female literary creation.
🌏 International
On the 7th, Iran's President Pezeshkian delivered a televised address apologizing for indiscriminate attacks on Middle Eastern neighbors, surprising many observers. BBC analysis suggests the apology may serve three purposes: de-escalating regional tensions, buying time for interim leadership, and projecting a pragmatic diplomatic image. Experts note this move reflects Iran's strategic adjustment amid complex geopolitical circumstances.
The Strait of Hormuz, a critical global energy transport corridor, faces unprecedented shipping disruption due to escalating US-Iran military conflict. According to JPMorgan Chase data, only 8 vessels transited the strait on the day Iran announced its closure, down 94% from the normal daily average of 138 ships. The situation remained unimproved in subsequent days, with hundreds of tankers stranded and global energy supplies at risk.
The US-Israel military operations against Iran entered their eighth day on the 7th, with reports indicating the US will deploy a third aircraft carrier, the USS George H.W. Bush, to the Middle East. Iranian President Pezeshkian stated that unconditional surrender is unrealistic, but Iran will cease attacks on neighboring countries if they are not used as launching points for strikes against Iran.
The KMT caucus proposed a special bill to strengthen defense and US military procurement, drastically reducing the budget cap to NT$38 billion. While claiming to balance defense and fiscal concerns, experts warn that clauses such as time limits and pricing prerequisites effectively block Taiwan's military investments in coming years, creating political obstacles to defense modernization.
The Freeway Bureau released a geological survey report on the proposed extension of National Highway 6 to Hualien. The project requires constructing 18 tunnels across less than 100 kilometers to pierce the Central Mountain Range. The survey identified 8 fault zones and geothermal water temperatures ranging from 120 to 180 degrees Celsius, presenting significant engineering challenges. The extension has been promoted by opposition lawmakers including legislator Fu Kun-chi for years.
On January 7, President Trump stated the US would consider striking previously untargeted areas and people in Iran conflict. Following the USS Lincoln and USS Ford, the US Navy is preparing to deploy the USS George H.W. Bush carrier strike group to join operations against Iran. Iranian President Pezeshkian vowed Iran will never surrender to the US and Israel, while apologizing to affected Middle Eastern neighbors.
International oil prices surged above $90 per barrel on the 6th amid escalating US-Iran tensions. The surge reflects multiple supply disruptions: the Strait of Hormuz facing blockade risks, Saudi Arabian refineries halting operations, Qatar shutting down the world's largest LNG facility, and reduced Iraqi crude production. As the conflict enters its second week, further price movements will depend on five critical variables.
International crude oil prices surged to their highest level since 2023 on the 6th. Multiple analysts predict that oil prices may exceed $100 per barrel within the coming days. The recent price surge reflects volatility in global energy markets and has drawn market attention to future price movements.
The US and Israel's "Operation Epic Wrath" against Iran has continued for over a week. Experts identify four potential scenarios for the emerging Middle East conflict, ranging from orderly and relatively peaceful transitions to chaotic and bloody outcomes, reflecting varying degrees of escalation possibilities.
President Trump announced at a summit that Washington has formally recognized the Venezuelan government this week. The two sides have reached an agreement to cooperate in gold and mineral sectors. Trump also stated that Cuba is currently in negotiations with Washington. This marks a significant shift in US policy toward Venezuela, involving economic cooperation and regional diplomatic relations.
As companies conduct layoffs citing artificial intelligence, economists at Anthropic have warned that AI's disruptive impact on the labor market is only beginning. The company identified at least five professions facing significant risk from AI technology. Experts suggest that the transformative effects of AI on employment and work patterns remain in early stages, requiring proactive preparation from both businesses and workers.
Indonesia and India's Karnataka state announced on the 6th that they will ban social media use for teenagers under 16 years old. Both regions, major social media markets in Asia, join a growing number of countries implementing age restrictions on youth internet usage. The ban aims to protect minors' mental health and online safety.
Rising tensions in the Middle East and Iran's blockade of the Strait of Hormuz have driven international oil prices higher. Taiwan's Premier Cho Jung-tai announced that unleaded gasoline prices will increase by NT$1.5 per liter starting tomorrow. The government has activated a dual price stabilization mechanism to mitigate the impact of the increase in response to the evolving international situation.
Escalating conflict in the Middle East and the blockade of the Strait of Hormuz have triggered a surge in international oil prices, causing aviation fuel costs to skyrocket by over 80%. Analysts warn that the significant increase in fuel expenses may drive up airfare prices ahead of the peak summer travel season, making international travel more expensive for consumers.
As Middle East conflict enters its second week, Iran conducted missile and drone attacks against Saudi Arabia, Kuwait, Qatar and other neighboring countries today. The strikes contradict the Iranian president's earlier apology and peace pledges. Multiple Gulf nations were targeted, escalating regional tensions further.