🔥 Top Stories
China and the United States are working to manage their differences and maintain a basic level of stability in their relationship, according to discussions at an academic forum held by Tsinghua University in Beijing. Scholars and former officials emphasized the need to prevent open confrontation. President Trump's planned China visit, postponed for five to six weeks due to Iran-related matters, is viewed as a key opportunity for improving ties.
NASA announced Tuesday it has cancelled plans for a lunar orbit space station, redirecting project components toward a US$20 billion moon surface base. The agency also plans to deploy a nuclear-powered spacecraft to Mars. NASA Administrator Jared Isaacman announced major changes to the Artemis moon program, aiming to expand humanity's presence in space.
Israel's military warned late Tuesday that Iran launched a new barrage of missiles toward the country with anti-missile defenses activated. Sirens sounded in Jerusalem and explosions were heard over the city and Jericho in the West Bank. The warning followed more than a dozen missile alerts throughout the day. The IDF confirmed identifying missiles launched from Iranian territory.
Iran's restrictions on maritime traffic through the Strait of Hormuz have disrupted approximately one-fifth of global oil and liquefied natural gas trade. Saudi Arabia and the UAE are accelerating exports through overland pipelines, with officials warning that naval escorts cannot guarantee safe passage. The geopolitical crisis is increasing the strategic value of Arctic energy resources.
Russia conducted a major drone and missile attack on Ukrainian civilian areas Tuesday, killing 4 people and injuring at least 35 according to officials. Russia fired almost 400 long-range drones overnight in its largest attack in weeks, with strikes continuing into Tuesday targeting the capital Kyiv. The assault coincides with intensified Russian efforts to break through Ukrainian front-line defenses, potentially marking the start of an anticipated spring ground offensive.
🏛 Politics
The post-war global governance architecture relied on US commitment to the international systems it created. However, recent developments indicate shifting priorities in Washington. As of 2026, events including US-Israel military actions against Iran and the Strait of Hormuz closure demonstrate diminished US appetite for maintaining multilateral order, prompting middle powers to assume expanded leadership responsibilities in international affairs.
Tan Ruisong, 64, former chairman and Communist Party secretary of Aviation Industry Corp of China (AVIC), has been given a suspended death sentence for obtaining over 613 million yuan (US$89 million) through bribes and insider trading. He led the state-owned military aircraft manufacturer from 2018 until his retirement in March 2023, making him one of the most senior defence sector executives investigated during Xi Jinping's tenure.
China and the United States are working to manage their differences and maintain a basic level of stability in their relationship, according to discussions at an academic forum held by Tsinghua University in Beijing. Scholars and former officials emphasized the need to prevent open confrontation. President Trump's planned China visit, postponed for five to six weeks due to Iran-related matters, is viewed as a key opportunity for improving ties.
Taiwan aims to establish itself as an Asia-Pacific drone hub by developing a supply chain independent of mainland China. This strategy reflects the Lai Ching-te administration's broader initiative to build a "democratic supply chain" amid rising geopolitical tensions. However, challenges related to production scale, political considerations, and implementation timeline pose risks to this ambitious industrial development plan.
Israel's military warned late Tuesday that Iran launched a new barrage of missiles toward the country with anti-missile defenses activated. Sirens sounded in Jerusalem and explosions were heard over the city and Jericho in the West Bank. The warning followed more than a dozen missile alerts throughout the day. The IDF confirmed identifying missiles launched from Iranian territory.
Former senior officials from the Biden administration stated at a Carnegie Endowment for International Peace event that President Trump's China policy in his second term lacks strategy, coherence, and a clear framework, mirroring his first term. These officials noted that when they took office in early 2021, they found little evidence of systemic policy, a pattern that appears to be repeating.
Brazil's Supreme Court Justice Alexandre de Moraes approved on Tuesday that former president Jair Bolsonaro serve his 27-year sentence for coup attempt at home rather than in prison due to deteriorating health. Bolsonaro has been hospitalized since March 13 for pneumonia, one of several health complications following a 2018 stabbing incident. The decision grants him special accommodation based on medical grounds.
A Reuters/Ipsos poll shows US President Donald Trump's approval rating has fallen to 36%, marking its lowest point since his return to office. The four-day poll, which closed Monday, represents a decline from 40% in the previous week's survey. The drop is attributed to rising fuel prices and widespread public disapproval of Trump's military actions against Iran, reflecting deteriorating American views on his economic stewardship.
Delta Air Lines announced Tuesday it would temporarily suspend special services for members of Congress due to resource impacts from the ongoing partial government shutdown affecting US air travel. The airline stated that maintaining safety and caring for employees and customers has become increasingly challenging in the current environment caused by the shutdown.
Russia conducted a major drone and missile attack on Ukrainian civilian areas Tuesday, killing 4 people and injuring at least 35 according to officials. Russia fired almost 400 long-range drones overnight in its largest attack in weeks, with strikes continuing into Tuesday targeting the capital Kyiv. The assault coincides with intensified Russian efforts to break through Ukrainian front-line defenses, potentially marking the start of an anticipated spring ground offensive.
💰 Finance
Li Cheng, founding director of the University of Hong Kong's Centre on Contemporary China and the World, states that China remains on track to surpass the United States as the world's largest economy within the next decade. While China's economy is undergoing structural transition, the US faces more severe current challenges. The global balance of power is shifting toward Asia as America pursues self-defeating policies.
China's Ministry of Commerce announced Wednesday that Mexico's tariff hikes on imports from non-free trade agreement countries violate trade rules, primarily affecting Chinese goods. The accusation signals escalating trade friction between the two nations amid mounting pressure from the Trump administration in the United States.
PDD Holdings, operator of Pinduoduo and Temu, reported quarterly net profit of 24.5 billion yuan, down 11% year-over-year and below analyst consensus of 29.1 billion yuan. Revenue rose 12% to 123.9 billion yuan, meeting expectations. The company attributed the profit decline to increased reinvestment as it continues strategic transformation.
Nearly 80 percent of Chinese companies operating in the European Union plan to expand their investments, according to a report released Tuesday by the Chinese Chamber of Commerce to the EU and China Economic Information Service. Despite most companies citing policy uncertainty as a concern, the expansion plans contrast sharply with similar reports from the European Chamber of Commerce in China, where both sides face various policy obstacles.
Chinese toymaker Pop Mart reported robust 2025 financial results with annual revenue surging 184.7% to 37.12 billion yuan and net profit jumping 284.5% to 13.08 billion yuan. However, Hong Kong-listed shares fell 22.5% to HK$168.30 on Wednesday, marking the largest decline. Investors express concerns about the company's heavy reliance on Labubu products and lack of portfolio diversification.
Escalating Middle East tensions are triggering broader financial turmoil beyond energy disruptions. The USD 3 trillion-plus global private-credit market faces accelerating vulnerabilities, prompting investors to seek safe-haven assets. China, the world's largest creditor to developing nations, will experience direct repercussions from this market stress. Analysts view this as the first major stress test for China's vast lending operations.
Panama Ports Company, a subsidiary of Hong Kong conglomerate CK Hutchison Holdings, announced expanded international arbitration claims on Tuesday, alleging damages have exceeded US$2 billion following Panama authorities' takeover of terminals at Balboa and Cristóbal ports. The company characterizes the action as an illegal seizure of ports and property, with the claim expansion occurring approximately one month after the authorities assumed control.
A New Mexico jury found Meta liable for endangering children on its platforms, awarding $375 million in damages. The verdict followed a six-week trial where the state accused Facebook and Instagram's parent company of failing to protect minors from sexual abuse, online solicitation, and human trafficking. Although New Mexico sought the maximum $2.2 billion in damages, the jury awarded a significantly lower amount.
Iran's restrictions on maritime traffic through the Strait of Hormuz have disrupted approximately one-fifth of global oil and liquefied natural gas trade. Saudi Arabia and the UAE are accelerating exports through overland pipelines, with officials warning that naval escorts cannot guarantee safe passage. The geopolitical crisis is increasing the strategic value of Arctic energy resources.
French financial prosecutors announced Tuesday that searches were conducted Friday at multiple locations, including the Paris branch of Swiss private bank Edmond de Rothschild, as part of a preliminary investigation opened last month. Investigators are examining suspicions of bribery involving foreign public officials and complicity related to revelations from Jeffrey Epstein files.
💻 Technology
Hong Kong's universities experienced their sharpest declines in three years in QS global subject rankings, with more than 53% of 266 offerings falling in their respective tables, including data science and artificial intelligence. Despite the overall drop, dentistry at the University of Hong Kong maintained its position as the city's highest-ranked subject, placing second globally.
Shenzhen's industry and information technology bureau unveiled an ambitious three-year action plan to establish the city as an intelligent computing hub. The initiative focuses on semiconductors, storage, and AI servers, aiming to achieve significant leapfrog growth in production capacity and shipment volumes across the entire AI server supply chain by 2028 under a self-reliance strategy.
NASA announced Tuesday it has cancelled plans for a lunar orbit space station, redirecting project components toward a US$20 billion moon surface base. The agency also plans to deploy a nuclear-powered spacecraft to Mars. NASA Administrator Jared Isaacman announced major changes to the Artemis moon program, aiming to expand humanity's presence in space.
🌏 International
According to Israeli media reports, the United States has set April 9 as a deadline for US-Iran negotiations. Iran's foreign minister has secretly informed US envoys that Iran's new supreme leader has agreed to negotiate with the US to reach an agreement. Pakistani officials revealed that US Vice President Vance, envoy Witkoff, and presidential son-in-law Kushner are expected to meet with Iranian officials in Islamabad this week.
According to the New York Times, U.S. Department of Defense officials are assessing a military operation plan led by the Army's 82nd Airborne Division to control Kharg Island, a critical Iranian oil hub. The plan involves the division's rapid response force with approximately 3,000 paratroopers capable of deployment within 18 hours. The proposal remains under evaluation.
According to Israeli media reports, a US official revealed that the United States plans to conclude military operations against Iran by April 9, leaving approximately three weeks for negotiations. Multiple English and American media outlets report that the US and Iran may hold talks in Pakistan this weekend. The plan aims to address US-Iran relations through concurrent military and diplomatic efforts.
Iran's state media reported that the United States and Israel launched an attack near the Bushehr nuclear power plant in southern Iran on the evening of the 25th. According to Iran's Atomic Energy Organization, a projectile struck the area surrounding the nuclear facility. The statement confirmed no casualties and no damage to the plant, with all operations continuing normally. This marks the second such attack on the facility's vicinity in recent weeks.
North Korean leader Kim Jong Un expressed unwavering support for Russia in a letter published by state media addressed to President Vladimir Putin. The correspondence reflects deepening geopolitical cooperation between the two nations. North Korea reportedly provides military assistance to Russia in exchange for food and other material support.
US-Israel military operations have disrupted the Strait of Hormuz controlled by Iran, impacting global energy supplies. Philippine President Ferdinand Marcos Jr. issued an executive order on the 24th declaring a national energy emergency state lasting one year, making the country the first globally to declare such a status due to these circumstances.
According to the New York Times, the United States has presented a 15-point peace plan to Iran. The proposal requires Iran to impose strict limitations on its nuclear program and reopen the Strait of Hormuz to restore international maritime traffic. This reflects US diplomatic efforts in the Middle East, aiming to resolve long-standing disputes with Iran through negotiation.
OpenAI has completed a funding round of approximately $10 billion, bringing the company's valuation to $73 billion. This represents a record-breaking financing scale for the artificial intelligence company. According to reports, OpenAI is collaborating with TSMC on chip development to support its AI operations and maintain its competitive position in the industry.
OpenAI CFO Sarah Friar announced the company is raising an additional $10 billion from investors including MGX, TPG, and T. Rowe Price. The new funding brings the total financing to over $120 billion, exceeding the previously announced $110 billion. This round is considered OpenAI's final private fundraising before a potential IPO.
Taiwan's Ministry of Finance projects 2025 export value at 64 billion USD, with global ranking rising to 12th place, marking the best performance since 1994. The growth is driven by booming artificial intelligence opportunities and Taiwan's competitive advantages in semiconductor supply chains, reflecting the country's strengthened position in global trade.
The Strait of Hormuz serves as a critical global corridor for crude oil transportation and submarine cable infrastructure. A potential blockade could simultaneously disrupt global energy supplies and digital communication infrastructure, potentially triggering stagflation and creating dual economic impacts with far-reaching cascading effects worldwide.
According to Israeli media reports, Iran's Supreme Leader has agreed to negotiate with the United States, though Iranian officials deny this claim. The United States states that both sides have reached multiple consensuses and suspended military operations to pursue diplomatic solutions. Regional military tensions and diplomatic mediation efforts continue.
The US military is reportedly planning to increase troop deployments to the Middle East and conduct ground operations to secure Kharg Island, Iran's key oil export facility, in response to potential Iranian threats to the Strait of Hormuz. The operation would involve Marine Corps amphibious assault with potential Army 82nd Airborne Division support. The move aims to protect US and allied energy security interests in the region.
A New Mexico jury found Meta liable under consumer protection law for facilitating child sexual exploitation on its platform, ordering the company to pay $375 million in damages (approximately NT$12 billion). This marks Meta's first conviction for harming young users' mental health. The company stated it will appeal the decision.
The Iran conflict has disrupted oil fields, refineries and gas plants in the Persian Gulf within days. The conflict lasting over three weeks has caused major supply disruptions, with the Strait of Hormuz effectively blockaded and dozens of energy facilities damaged. Qatar's Ras Laffan LNG facility was attacked, raising concerns about gas supply recovery. Officials estimate repairs could take up to five years. Engineers note that oil and gas production systems require stable flow, and recovery speed depends on whether fields were fully shut down or maintained at minimum levels.