🔥 Top Stories
Israeli Prime Minister Netanyahu stated that the US-Iran ceasefire does not apply to operations against Hezbollah. Israel resumed strikes in southern Lebanon and ordered evacuations in parts of Beirut on Wednesday. The United States and Iran agreed to a two-week ceasefire brokered by Pakistan, aimed at suspending a six-week conflict that has killed thousands, spread across the Middle East, and disrupted global energy supplies.
US President Donald Trump announced a two-week ceasefire agreement with Iran, including resumption of shipping through the Strait of Hormuz. Trump confirmed to Agence France-Presse that China assisted in bringing Iran to the negotiation table. Iran expressed its desire for China, its largest trading partner, to serve as a guarantor of regional peace. Negotiations are scheduled to begin Friday in Islamabad, Pakistan.
Hong Kong police have arrested an employee of a contractor commissioned by the Hospital Authority on suspicion of stealing personal data of more than 56,000 patients. The arrest follows days after privacy watchdog and police announced investigation into a large-scale data breach involving over 56,000 patients served by the authority, with unauthorised retrieval of various patient information reported. Authorities continue investigating the incident.
As the United States and Israel continue military operations against Iran, experts warn the conflict's impact will reshape warfare, geopolitics, and energy security for years. Whether the conflict concludes quickly or extends, the repercussions will influence how the world perceives American tactical and strategic capabilities, affecting future conflicts in an increasingly unstable international environment.
Russia and China vetoed a UN Security Council resolution aimed at reopening the Strait of Hormuz. The vote resulted in 11 in favor and 2 against (Russia and China), with Pakistan and Colombia abstaining. The veto occurred hours after US President Donald Trump issued an ultimatum threatening severe consequences if Iran does not open the strategic waterway and reach a deal by 8pm. The Strait of Hormuz is critical for approximately one-fifth of global oil transportation.
🏛 Politics
Billionaire investor Ray Dalio stated that the US-China relationship is the single most critical factor for global well-being. Speaking at an OceanX event in Shanghai, he warned that strong ties could unlock immense progress for humanity, while deteriorating relations could cause catastrophic damage. His remarks come as global tensions rise amid Iran developments and preparations for upcoming superpower leadership meetings.
Israeli Prime Minister Netanyahu stated that the US-Iran ceasefire does not apply to operations against Hezbollah. Israel resumed strikes in southern Lebanon and ordered evacuations in parts of Beirut on Wednesday. The United States and Iran agreed to a two-week ceasefire brokered by Pakistan, aimed at suspending a six-week conflict that has killed thousands, spread across the Middle East, and disrupted global energy supplies.
US President Donald Trump announced a two-week ceasefire agreement with Iran, including resumption of shipping through the Strait of Hormuz. Trump confirmed to Agence France-Presse that China assisted in bringing Iran to the negotiation table. Iran expressed its desire for China, its largest trading partner, to serve as a guarantor of regional peace. Negotiations are scheduled to begin Friday in Islamabad, Pakistan.
An independent committee investigating Hong Kong's deadliest fire in decades, which killed 168 people at Wang Fuk Court in Tai Po, began its second round of hearings on Wednesday. Chung Kit-man, director and engineer of Victory Fire Engineering, the contractor responsible for the estate's fire service equipment, testified again and acknowledged that skipping on-site checks was not an ideal practice.
An Indonesian fisherman caught a Chinese underwater drone near the Lombok Strait, a key waterway leading to Australia, on Monday. The discovery of the torpedo-shaped object coincides with increased Chinese underwater activity in sensitive areas. The strait between Bali and Lombok is closely monitored by the United States and Australia as one of few deepwater routes capable of accommodating submarine transits at operational depth.
As the United States and Israel continue military operations against Iran, experts warn the conflict's impact will reshape warfare, geopolitics, and energy security for years. Whether the conflict concludes quickly or extends, the repercussions will influence how the world perceives American tactical and strategic capabilities, affecting future conflicts in an increasingly unstable international environment.
In April, Cambodia extradited Huione Group's former chairman Li Xiong to China. The company was severed from the US financial system for laundering at least US$336 million from cyber scams between 2021 and 2025. The US sanctioned Huione and its parent company Prince Group, and indicted founder Chen Zhi. Experts suggest the US should collaborate with China on combating transnational fraud rather than solely assigning blame.
US Trade Representative Jamieson Greer signalled a cautious approach to US-China relations ahead of the planned summit between President Trump and Chinese leader Xi Jinping. Greer indicated that preparatory talks would occur virtually rather than through in-person visits to Beijing, and stated there are no plans to push for expanded bilateral investment before the summit meeting.
Kataib Hezbollah, an Iran-aligned Iraqi armed group, announced Tuesday it would release abducted US journalist Shelly Kittleson and demanded she leave Iraq immediately. Kittleson was kidnapped in late March in Baghdad. The Rome-based freelance journalist has covered multiple regional conflicts and contributed articles to international news outlets including Al-Monitor.
Russia and China vetoed a UN Security Council resolution aimed at reopening the Strait of Hormuz. The vote resulted in 11 in favor and 2 against (Russia and China), with Pakistan and Colombia abstaining. The veto occurred hours after US President Donald Trump issued an ultimatum threatening severe consequences if Iran does not open the strategic waterway and reach a deal by 8pm. The Strait of Hormuz is critical for approximately one-fifth of global oil transportation.
💰 Finance
Chinese President Xi Jinping has signalled renewed focus on the services sector, calling for demand-driven development and technology-enabled reforms to reshape economic growth and create jobs. Speaking at the conclusion of a two-day services sector conference, Xi emphasized the importance of innovation and technological empowerment, positioning the services industry as crucial to addressing China's economic challenges and employment needs.
The United States and Japan plan to help transform the Philippines into a critical minerals powerhouse to reduce dependence on China. A report from the Center for a New American Security highlights that trilateral cooperation is essential to leverage the Philippines' significant mineral resources. However, analysts caution that Manila's lack of commitment to comprehensive reforms and corruption control could undermine these ambitious goals.
Iran's partial closure of the Strait of Hormuz disrupted global oil shipping, causing Brent crude to surge between US$100-120 per barrel. War risk premiums have increased costs for essential goods worldwide. African nations are leveraging trade agreements with China to mitigate economic pressure from rising international commodity prices and supply chain disruptions.
As France's central bank repatriates gold reserves from the United States, analysts recommend China seize this strategic opportunity to develop into the next global gold trading centre. Experts suggest Beijing leverage policy stability and Hong Kong's fintech strengths, including blockchain technology, to establish a modern gold trading platform. This move gains strategic significance amid heightened policy uncertainty under Trump's second term and accelerating de-dollarisation trends globally.
Global economic imbalances are re-emerging with different characteristics than those preceding the 2008 financial crisis. The previous framework—where surplus countries like China and Germany over-saved while the US over-consumed—no longer fully explains current dynamics. Artificial intelligence development and geopolitical rivalry have introduced new complexities that traditional economic orthodoxy cannot entirely address, requiring updated analytical approaches.
According to KPMG's Hong Kong Employment Outlook 2026 report released Wednesday, 24% of Hong Kong companies plan to widely adopt artificial intelligence this year, a threefold increase from 8% a year ago. The survey reveals that growing numbers of business leaders expect AI technology will result in smaller headcounts, reflecting optimism about AI adoption and anticipated shifts in workforce structure.
The International Air Transport Association chief stated that even if Iran reopens the Strait of Hormuz, jet fuel supply recovery will take months due to disruptions in Middle East refining capacity. US President Trump announced a two-week ceasefire agreement with Iran, contingent on immediate and safe reopening of the strait, which carries approximately one-fifth of global oil trade. Oil prices fell below US$100 per barrel.
Chinese tax authorities are sending text messages to taxpayers demanding accurate declaration of all income, including overseas earnings. A finance professional reports that her acquaintance is coordinating with authorities to settle unpaid taxes on overseas trading. She notes there is no choice but to comply with such directives, raising concerns among investors about tax compliance requirements.
The Philippine call centre industry is a major economic force, employing over one million workers and generating billions in revenue. The nation's large pool of English speakers has established it as a global customer service outsourcing hub. However, declining education standards producing graduates with insufficient literacy skills, combined with artificial intelligence disruption, pose risks to the Philippines' competitive advantage in the global customer service industry.
Brazil's Ministry of Labour and Employment added Chinese electric vehicle manufacturer BYD to its "dirty list" on Tuesday, citing labour conditions analogous to slavery at its largest plant outside China. The designation restricts access to state financing and poses reputational risks in BYD's most important market beyond China. The ministry added 169 employers total in its latest semi-annual registry update.
💻 Technology
Chinese AI company Zhipu AI open-sourced its flagship GLM-5.1 model on Wednesday while raising API prices by 10 percent, marking the company's second price increase this year. The move follows a February overhaul that raised coding subscription rates by over 30 percent. The adjustment reflects Zhipu's shift toward monetizing advanced AI capabilities as competition with US rivals intensifies.
NASA's Artemis II mission successfully completed with the Orion spacecraft reaching a maximum distance of 406,780km from Earth, surpassing Apollo 13's 1970 record. The four-astronaut crew from the US and Canada is expected to reignite India's determination to expand its space sector and pursue future lunar exploration missions.
DeepSeek has introduced new instant and expert modes to its chatbot, marking the most significant user interface update since the Hangzhou-based startup gained global recognition. The update precedes the highly anticipated release of its next-generation flagship model V4 this month, more than a year after its R1 version became widely known. The company added both modes to its website and mobile app on Tuesday, allowing users to select their preferred settings.
The Hong Kong University of Science and Technology (HKUST) has initiated a five-year research project to investigate the reasons behind the long lifespans commonly observed in Chinese populations. Led by HKUST President Professor Nancy Ip Yuk-yu, the study aims to recruit 500 residents aged 90 and older for biomarker analysis using advanced blood testing technologies. Hong Kong became a "super-ageing society" in 2024 under United Nations standards, prompting the urgent need to understand healthy ageing processes.
Chinese EV manufacturers including SAIC Motor and Chery Automobile are advancing solid-state battery commercialization roadmaps. Solid-state batteries use solid electrolytes to conduct ions between electrodes, offering higher energy density and improved safety compared to conventional lithium-ion batteries with liquid or gel-based materials.
Hong Kong authorities will establish a dedicated company this year to expedite the development of the San Tin Technopole near the border. Permanent Secretary for Innovation, Technology and Industry Kevin Choi Kit-ming stated that multiple companies have already expressed interest in relocating to the hub. The government plans to introduce customized measures to enable cross-border transfer of data and biological samples, further facilitating Guangdong-Hong Kong technological collaboration.
A new Artificial Intelligence Research and Development Institute in Hong Kong will begin operations this month to advance the 'AI for all' strategy. Permanent Secretary Kevin Choi Kit-ming stated that the institute's priorities include integrating local resources, strengthening government capabilities, and ensuring all residents and sectors benefit from artificial intelligence technology development.
NASA's Artemis II astronauts photographed Earth setting below the moon's horizon during their return journey after completing a historic lunar fly-by. The space agency released the image as a deliberate tribute to the iconic Earthrise photograph taken by Apollo 8 astronaut Bill Anders in 1968, which captured public imagination during the first crewed lunar mission 57 years ago.
🌏 International
Kung Fan-chia, former deputy director of the Defense Ministry's Military News and Information Bureau, was convicted of accepting bribes from Chinese intelligence and attempting to develop an espionage network in Taiwan. The Supreme Court upheld the sentence of five years and four months imprisonment for breach of duty bribery and attempted organization development under the National Security Act, with confiscation of 630,000 NT dollars in criminal proceeds.
Iranian media reported that an Israeli airstrike completely destroyed a synagogue in Tehran. The Israeli military expressed regret over the collateral damage and stated the primary target was a senior Iranian military commander. The incident raises international concerns regarding damage to religious facilities and military operations.
President Trump issued a strong ultimatum to Iran, demanding an agreement with the United States or facing severe consequences. Iran refuses to back down, raising concerns among the international community and financial markets. Amid geopolitical tensions, international crude oil prices continue to fluctuate above $110 per barrel, with West Texas Intermediate crude surging past $117 per barrel, reaching new highs.
Russia and China exercised their veto power at the UN Security Council against a draft resolution to reopen the Strait of Hormuz. The resolution aimed to address issues related to this strategically important waterway, but failed to pass due to opposition from both nations, reflecting major powers' divergent Middle East policies.
The United States and Israel conducted military attacks on Iranian military positions, railways, and bridge infrastructure, occurring 12 hours before the deadline for Iran to open the Strait of Hormuz and engage in ceasefire negotiations. Both sides exchanged accusations, with Iran calling for youth mobilization. The Middle East region is now on high alert.
Following the U.S. and Israeli military action against Iran on February 28, international aviation fuel markets experienced significant disruption. U.S. aviation fuel prices surged from $2.50 per gallon on February 27 to $4.88 by last Thursday, nearly doubling. The practical closure of the Strait of Hormuz has severely disrupted global crude oil and fuel supply chains. Rising fuel costs are forcing airlines to reassess operations and substantially reduce flights, particularly long-haul international routes. Major carriers like Lufthansa have initiated contingency planning.
NATO Secretary General Rutte will visit the White House on the 8th in a critical moment for the 77-year-old alliance. U.S. President Trump has threatened to withdraw from NATO and criticized European allies, straining transatlantic relations. Rutte's visit aims to reassure the U.S. and resolve disputes, particularly regarding Iran issues, including European allies' positions on Hormuz Strait escort missions and airspace access.
Russia and China exercised their veto power at the UN Security Council to block a resolution proposed by Bahrain aimed at coordinating international efforts to ensure safe navigation through the Hormuz Strait. The draft resolution received 11 votes of support but failed to pass due to opposition from the two permanent members. The US Ambassador to the UN subsequently expressed support for the measure and issued warnings regarding Iran.
The Trump administration and Iran have agreed to a two-week ceasefire, providing a potential turning point in their five-week conflict. The US and Israel had initially hoped military action would trigger internal change in Iran and lead to regime change, though developments have not proceeded as anticipated. The ceasefire agreement marks a new phase in the bilateral tensions.
The United States and Iran agreed to a temporary ceasefire before Trump's deadline, aiming to reopen the Strait of Hormuz. However, specific implementation details remain unclear. Approximately 800 cargo vessels and 20,000 crew members are stranded in the Persian Gulf, with ship owners awaiting concrete details to resume operations and evacuate trapped vessels.
Following US President Trump's announcement of a ceasefire agreement with Iran, Iranian state media reported that the Supreme Leader has ordered all military units to cease fire. However, despite the agreement's implementation, military incidents continue to be reported in the Gulf region, indicating ongoing instability in the Middle East.
Software vendor Progress released a security advisory addressing two critical vulnerabilities in its ShareFile enterprise file transfer solution. The flaws involve authentication bypass and remote code execution capabilities. These vulnerabilities can be chained together to potentially allow attackers to gain system control. Users are advised to update to patched versions immediately.
President Trump stated the U.S. would bomb bridges and power plants if Iran fails to reopen the Strait of Hormuz. Negotiations between the two nations have reached an impasse, with hopes for a deal fading as Tuesday's deadline approaches. Tensions between the countries remain high.
Recent coordinated attacks by the United States and Israel have targeted multiple Iranian facilities including bridges, steel plants, and pharmaceutical installations. Verified video footage confirms the strikes on these civilian and industrial infrastructure sites. The operations reflect escalating tensions in the Middle East region and have drawn international attention to the ongoing conflict.
The United States and Iran have announced a two-week ceasefire agreement. Iran stated it will permit safe passage through the Strait of Hormuz, a critical global oil shipping route. Following this announcement, international oil prices declined. The agreement represents a significant de-escalation of tensions in the Middle East region with important implications for global energy markets.