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Iran launched missiles and drones at Israel and Kuwait on Sunday, one day after US President Donald Trump issued an ultimatum demanding the Islamic republic reach a deal within 48 hours or face severe consequences. Kuwait and Israel activated air defense systems in response. The attack is part of an escalating cycle of retaliation following US-Israeli military strikes over a month ago, spreading conflict throughout the Middle East and impacting the global economy.
Hong Kong is set to implement its first five-year development plan, signalling a major shift in the city's long-term growth strategy. This comprehensive plan follows mainland China's approach, departing from Hong Kong's traditional reliance on market forces and incremental development. The transformation represents an unprecedented change in how the city approaches economic planning and development.
China intensified investments in North Africa in 2026, leveraging Belt and Road Initiative frameworks amid the US-Israeli conflict with Iran. With 40-50 percent of China's seaborne oil imports traditionally transiting the now-blocked Strait of Hormuz, Beijing is diversifying energy sources away from Gulf Arab states. China's decade-long strategic engagement across the Middle East and North Africa creates structural geopolitical implications for Europe.
The US military is committing nearly its complete inventory of stealthy JASSM-ER cruise missiles to operations against Iran, redirecting them from Pacific stockpiles. Each missile costs approximately US$1.5 million. The redeployment order was issued in late March, with missiles being transferred from facilities across the continental US to US Central Command bases and Fairford in the UK.
The Trump administration has revoked green cards or US visas for at least four Iranian nationals connected to current or former Iranian government officials this week. Secretary of State Marco Rubio determined they no longer qualify for lawful permanent resident status or US entry. Two of those affected have been detained by immigration authorities and face deportation. This action follows similar visa revocations from late last year.
🏛 Politics
Three Indonesian UN peacekeepers killed in separate explosions in southern Lebanon last week were laid to rest in their hometowns on Sunday. Peacekeeper Farizal Rhomadhon, 28, died when struck by a projectile on March 29 in the conflict zone between Israel and Hezbollah. Two colleagues, Zulmi Aditya Iskandar, 33, and Muhammad Nur Ichwan, 26, were killed the following day when an explosion hit a UN logistics convoy. Indonesian Defense Minister Prabowo condemned the attacks.
Hong Kong's independent committee investigating the deadliest fire in decades concluded its first round of hearings last week. The investigation revealed multiple human and systemic errors, with fragmentation of responsibility identified as a significant issue. Given the complexity of projects involving numerous parties, the lack of government oversight and enforcement mechanisms emerged as a critical concern in preventing such disasters.
Ukrainian President Volodymyr Zelensky expressed concern that a prolonged US-Israeli military operation against Iran could diminish American support for Ukraine as Washington's global priorities shift. In an exclusive interview with the Associated Press in Istanbul, Zelensky emphasized Ukraine's urgent need for additional US-made Patriot air defence systems to counter Russia's daily bombardment. He warned that reduced deliveries of critical military equipment could result from the geopolitical realignment.
Iran launched missiles and drones at Israel and Kuwait on Sunday, one day after US President Donald Trump issued an ultimatum demanding the Islamic republic reach a deal within 48 hours or face severe consequences. Kuwait and Israel activated air defense systems in response. The attack is part of an escalating cycle of retaliation following US-Israeli military strikes over a month ago, spreading conflict throughout the Middle East and impacting the global economy.
Hong Kong is set to implement its first five-year development plan, signalling a major shift in the city's long-term growth strategy. This comprehensive plan follows mainland China's approach, departing from Hong Kong's traditional reliance on market forces and incremental development. The transformation represents an unprecedented change in how the city approaches economic planning and development.
China's unmanned submersibles rank as the world's largest, with last year's military parade showcasing two models approaching 20 metres in length. Satellite imagery revealed a classified variant exceeding 40 metres, triggering international concern particularly in the United States. These dimensions created a new class of extra-extra-large uncrewed underwater vehicles, which a lead scientist clarified are not targeting the US West Coast.
Federal prosecutors revealed that a bomb placed outside MacDill Air Force Base in Florida last month was constructed using two 2-litre cherry Pepsi bottles. Alen Zheng, 20, is accused of planting and igniting the device on March 10, transporting it in his Mercedes SUV. US Attorney Gregory Kehoe stated the device had significant destructive potential, though it failed to detonate.
China intensified investments in North Africa in 2026, leveraging Belt and Road Initiative frameworks amid the US-Israeli conflict with Iran. With 40-50 percent of China's seaborne oil imports traditionally transiting the now-blocked Strait of Hormuz, Beijing is diversifying energy sources away from Gulf Arab states. China's decade-long strategic engagement across the Middle East and North Africa creates structural geopolitical implications for Europe.
The US military is committing nearly its complete inventory of stealthy JASSM-ER cruise missiles to operations against Iran, redirecting them from Pacific stockpiles. Each missile costs approximately US$1.5 million. The redeployment order was issued in late March, with missiles being transferred from facilities across the continental US to US Central Command bases and Fairford in the UK.
The Trump administration has revoked green cards or US visas for at least four Iranian nationals connected to current or former Iranian government officials this week. Secretary of State Marco Rubio determined they no longer qualify for lawful permanent resident status or US entry. Two of those affected have been detained by immigration authorities and face deportation. This action follows similar visa revocations from late last year.
💰 Finance
The luxury industry is forecast to accelerate in 2026 following a stagnant 2025, with China's long-awaited consumer recovery emerging as a key driver. Despite geopolitical headwinds from the Iran situation, major financial institutions including HSBC, Deutsche Bank, and BNP Paribas project global luxury sales growth of 5.5 to 6 percent this year, with analysts recommending renewed focus on the sector.
Goldin Finance 117 in Tianjin, once dubbed the world's tallest abandoned skyscraper, is approaching completion after nearly a decade of dormancy and resumed construction over the past year. Standing 596 metres tall upon completion, workers recently began installing the diamond-shaped crown atop the building. The project's progress occurs amid ongoing challenges in China's property market recovery.
Hong Kong's Financial Secretary Paul Chan Mo-po stated that the city's economy demonstrated resilience in the first quarter of 2026 despite volatility in equity and oil markets caused by Middle East tensions. Chan attributed Hong Kong's performance to steady economic growth in mainland China, with the city leveraging this opportunity to establish itself as a global high-tech financing hub.
Thailand's USD 7 billion fishing industry faces severe challenges as diesel prices surge due to Iran's response to US and Israeli military actions affecting the Strait of Hormuz. The global fuel cost spike has forced approximately half of Thailand's fishing fleet to remain docked. Fishermen and buyers are suffering significant financial losses as operational expenses become unsustainable.
💻 Technology
China successfully completed the maiden flight of a hydrogen-fuelled uncrewed cargo aircraft on Saturday. The 7.5-tonne aircraft is powered by the world's most powerful hydrogen turboprop engine, capable of generating over 1 megawatt. The engine operated normally throughout the 16-minute test flight, marking a significant milestone in China's green aviation development.
Zack Kass, former head of go-to-market at OpenAI, states that traditional corporate culture and hierarchies are slowing AI adoption in Chinese enterprises compared to their US counterparts. While Chinese consumers rapidly embrace AI agents, Chinese companies move more cautiously. Kass highlights that China has "techno-centric consumers" whereas the US has "techno-centric enterprises," illustrating the cultural differences affecting AI adoption rates between the two countries.
Geely-backed Chinese ride-hailing company CaoCao is adopting a heavy-asset strategy to establish itself as a leading robotaxi operator, planning to deploy 100,000 autonomous vehicles by 2030. CEO Gong Xin stated that the future of robotaxis depends on an asset-management model centered on vehicle manufacturing, autonomous driving technology, and fleet operations as competition intensifies.
Thousands of workers, including rural mothers in Guizhou province's mountainous Tongren city, performed data labeling work to train AI for autonomous vehicles in Beijing. They marked buildings, pavements, roads, and traffic lights, earning less than half of Beijing's middle-class incomes. As autonomous driving technology matures, these low-wage laborers face uncertain employment prospects, raising concerns about worker protections in the age of technological advancement.
🌏 International
A US Air Force F-15E twin-seat fighter jet was shot down over Iranian airspace, with one pilot remaining missing. Both the United States and Iran launched search and rescue operations. President Trump received a briefing on the incident and stated it would not affect US-Iran negotiations. US military search and rescue helicopters were deployed for the operation.
Israeli Prime Minister Netanyahu confirmed that Israel attacked petrochemical factories in Iran's southwestern Khuzestan Province. Tehran authorities reported multiple facilities sustained damage. Netanyahu stated Israel will continue taking action against the Tehran regime. The incident occurs amid heightened regional tensions in the Middle East.
A US F-15E fighter jet was shot down over Iranian airspace on the 3rd, with two pilots aboard—one rescued and one missing. According to Al Jazeera, US rescue forces have located the missing pilot and are currently engaged in firefights with Iranian forces while attempting extraction from Iranian territory.
According to Al Jazeera citing a US official, the second crew member of a downed F-15E fighter jet has been rescued following intense firefight. The aircraft carried two crew members, with the status of the other pilot not mentioned in the report. The incident involves military conflict between US forces and Iran.
A US Air Force F-15E Strike Eagle was shot down over Iran on the 3rd, with an onboard weapons system officer ejecting and going missing. Iranian officials offered a $66,000 bounty (approximately NT$2.11 million) to locate the missing American serviceman. Social media footage shows Iranian civilians firing weapons at US military rescue helicopters, putting search and rescue operations at risk. Military analysts suggest the downed aircraft likely originated from a US military forward operating base in the United Kingdom.
Israel conducted an airstrike on Iran's largest petrochemical industrial park on the 4th, causing complete production shutdown across the facility. The attack deals a significant blow to Iran's already fragile economy, with reconstruction and full production recovery estimated to take approximately two years.
A US Air Force F-15E twin-seat fighter jet crashed in Iranian territory. One pilot was rescued and hospitalized, while another pilot remains missing after ejecting. Iran offered a 10 billion toman bounty for capture. The US military immediately launched a classified Combat Search and Rescue (CSAR) operation, deploying elite special forces to penetrate enemy territory and locate the missing pilot.
A US Air Force F-15 Eagle fighter jet was shot down by Iran, with one weapons systems officer unaccounted for. Search and rescue operations have stalled, presenting a significant political challenge for the US government. Concerns have emerged that if the missing officer falls into Iranian custody, he could become a propaganda tool, potentially repeating the 1979 Iranian hostage crisis scenario.
President Trump announced via Truth Social that a US military pilot shot down and missing in Iran has been successfully rescued. The pilot was missing for more than 24 hours before escaping. Trump confirmed the pilot's safe return but did not provide specific rescue details. The incident reflects escalating US-Iran military tensions.
President Trump announced the successful rescue of two pilots shot down by Iran, describing it as the first time in US military history that two pilots have been simultaneously rescued deep behind enemy lines. Trump simultaneously issued a 48-hour ultimatum to Iran, demanding it open the Strait of Hormuz or face attacks on its energy infrastructure.
A magnitude 5.7 earthquake struck off the coast of Hualien in the early morning of May 5, with tremors felt across Taiwan. The Central Weather Administration's Seismic Monitoring Center confirmed it is the largest earthquake in 2026, caused by plate compression and subduction. As the region is seismically active, aftershocks of magnitude 5.0 to 5.5 are expected within the next three days, and residents are advised to remain vigilant.
President Trump has expressed dissatisfaction with European allies for not participating in U.S.-Israeli military operations against Iran, and has discussed the possibility of withdrawing from NATO with his advisors. This reflects fundamental disagreements between the United States and Europe on Middle East policy, potentially impacting the transatlantic alliance.
The U.S. Air Force launched one of its most complex search-and-rescue operations in decades on Friday. The mission involved aircraft crashes, personnel ejections, and an extensive search for a missing airman in Iran. The scale and complexity of this operation mark a significant undertaking in U.S. Air Force history.
The United States is conducting a search operation for a missing airman from a downed F-15 Eagle fighter jet. The situation could escalate significantly if Iran captures the aircraft's weapons system officer. This incident presents a serious challenge to US military operations and international relations.
A US fighter jet was shot down over Iranian airspace. According to US media reports, one pilot has been safely rescued, while search and rescue operations continue for the aircraft's second crew member.