Taiwan conducted a large-scale live-fire exercise on Kinmen island on Wednesday, simulating a People's Liberation Army amphibious assault. The drill occurred hours before President Donald Trump's arrival in Beijing for high-stakes talks with Chinese leader Xi Jinping. The timing has raised concerns in Taiwan that it could become a bargaining chip in broader US-China negotiations.
US Defense Secretary Pete Hegseth became the first American defense chief in decades to accompany a sitting president on a state visit to China. Hegseth boarded Air Force One with President Donald Trump on Tuesday afternoon bound for Beijing, marking a departure from long-established diplomatic practice. Trump is scheduled to hold bilateral talks with Chinese President Xi Jinping on Thursday and Friday.
US President Donald Trump departed for China on Tuesday, scheduled to arrive in Beijing on Wednesday evening for a two-day summit with Chinese President Xi Jinping. This marks Trump's first visit to China since 2017 and aims to stabilize relations between the world's two largest economies. Despite significant disagreements over trade, Taiwan, and global security issues, both sides hope the talks will help stabilize bilateral ties.
Russia conducted a test launch of a new intercontinental ballistic missile on Tuesday as part of its nuclear force modernization program. President Putin announced that the Sarmat missile will enter combat service by year-end, replacing the aging Soviet-era Voyevoda. Putin claimed it is the world's most powerful missile. The test occurred days after Putin stated that fighting in Ukraine is nearing conclusion.
The US Senate voted 51-45 to confirm Kevin Warsh as a governor on the Federal Reserve Board for a 14-year term. Warsh will assume the role of Federal Reserve chair later this week, succeeding incumbent Jerome Powell. The confirmation comes as the world's largest economy faces inflation at a three-year high. The Senate will hold a separate vote to confirm Warsh's appointment as chair.
Gunshots were heard at the Philippine Senate on Wednesday, prompting people to seek cover. More than 10 military personnel in camouflage fatigues arrived at the Senate building, some carrying assault rifles. The incident occurred as authorities anticipated an attempt to arrest a senior senator wanted by the International Criminal Court. The source of the gunfire and full details remain unclear.
Taiwan conducted a large-scale live-fire exercise on Kinmen island on Wednesday, simulating a People's Liberation Army amphibious assault. The drill occurred hours before President Donald Trump's arrival in Beijing for high-stakes talks with Chinese leader Xi Jinping. The timing has raised concerns in Taiwan that it could become a bargaining chip in broader US-China negotiations.
Israel launched intensive airstrikes on south Lebanon on Tuesday ahead of talks with Lebanese officials in Washington. Beirut reported 380 deaths from Israeli attacks since the April 17 ceasefire took effect. Hezbollah chief Naim Qassem vowed to make the battlefield hell for Israeli forces and rejected disarmament discussions at the upcoming Thursday-Friday talks, despite US calls for the Iran-backed group's weapons removal.
US President Donald Trump's visit to China comes as US-Iran tensions disrupt global energy supplies and strain Washington-Beijing relations. The trip marks his return after nearly nine years, during which the global standing of both nations has shifted significantly, largely to China's advantage. The visit occurs amid heightened economic uncertainty and geopolitical tensions affecting bilateral ties.
A French woman infected during a deadly hantavirus outbreak aboard a cruise ship is critically ill and receiving treatment with an artificial lung at a Paris hospital, according to medical staff on Tuesday. The outbreak has reached 11 reported cases, with 9 confirmed. Three people on the cruise have died, including a Dutch couple believed to be the first exposed to the virus while visiting South America.
US Defense Secretary Pete Hegseth became the first American defense chief in decades to accompany a sitting president on a state visit to China. Hegseth boarded Air Force One with President Donald Trump on Tuesday afternoon bound for Beijing, marking a departure from long-established diplomatic practice. Trump is scheduled to hold bilateral talks with Chinese President Xi Jinping on Thursday and Friday.
China's Foreign Ministry spokesman Guo Jiakun strongly opposed Paraguay President Santiago Pena's four-day Taiwan visit, branding Paraguayan leaders as willing 'chess pieces' for pro-independence forces. Beijing urged Asuncion to 'change course at an early date' and recognize the one-China principle, warning that 'the wheels of history wait for no one' in rejecting the one-China policy.
The Congressional Budget Office estimates that the Trump administration's proposed defense shield will cost $1.2 trillion to deploy and operate—six times higher than current forecasts. The non-partisan watchdog warns that despite this massive investment, the system would likely still fail to prevent a comprehensive military attack. The estimate is based on capabilities outlined in Trump's January 2025 executive order, as the administration has not yet provided detailed implementation plans.
US President Donald Trump departed for China on Tuesday, scheduled to arrive in Beijing on Wednesday evening for a two-day summit with Chinese President Xi Jinping. This marks Trump's first visit to China since 2017 and aims to stabilize relations between the world's two largest economies. Despite significant disagreements over trade, Taiwan, and global security issues, both sides hope the talks will help stabilize bilateral ties.
Russia conducted a test launch of a new intercontinental ballistic missile on Tuesday as part of its nuclear force modernization program. President Putin announced that the Sarmat missile will enter combat service by year-end, replacing the aging Soviet-era Voyevoda. Putin claimed it is the world's most powerful missile. The test occurred days after Putin stated that fighting in Ukraine is nearing conclusion.
Asian migrant workers in the Gulf are testing stablecoins as an alternative remittance channel amid concerns that Iran-related tensions could trigger US sanctions disrupting traditional money transfers. Worker remittances account for 3-5% of GDP in several emerging markets, reaching 10% in Nepal. This shift reflects the critical importance of remittances to millions of families and Asian economies.
Hong Kong International Airport's management authority has taken over retail operations of 11 Skies from New World Development ahead of Terminal 2's opening. The authority has assumed control of key components of the 2.66 million square foot retail and dining space, representing 70 percent of the entire project. It remains unclear whether the authority has also taken over the remaining 570,000 square feet of experiential facilities.
Tesla China has introduced a new financing program to attract budget-conscious consumers amid declining sales in the world's largest EV market. The company announced that buyers choosing a five-year car loan can reduce the down payment for the Shanghai-made Model 3 (priced at 235,500 yuan) from 79,900 yuan to 55,900 yuan. The initiative aims to compete more effectively against domestic rivals in China's competitive electric vehicle sector.
A survey by the EU Chamber of Commerce in China reveals that over one-quarter of European companies have adjusted their supply chain strategies in response to the Middle East conflict. Rising energy and logistics costs are prompting some firms to shift more production to China. The chemicals and petroleum sectors are particularly affected as companies reassess their global supply chain operations.
G7 economists and the IMF recommend China reduce its current account surplus by boosting consumption. However, analysis suggests China's high savings rate benefits the global economy, particularly emerging markets and developing economies. A current account surplus represents national savings exceeding domestic investment, with these savings exported abroad as net capital rather than disappearing.
Chinese electric vehicle manufacturers including Geely, Chery, and BYD are expanding into European markets. The Beijing auto show demonstrated the diverse EV offerings from Chinese brands, attracting international consumer interest. However, several Chinese automakers face profitability challenges, reflecting intensifying competition in the global electric vehicle sector.
Hong Kong's government announced a 50 percent toll reduction for all commercial vehicles using public tunnels, effective Sunday for two months. The measure aims to ease business costs amid surging fuel prices driven by Middle East conflict. Eligible vehicles include buses, goods vehicles, light buses, and taxis registered with the Transport Department, while private cars and motorcycles are excluded from the discount.
Australia's major mining companies are gradually shifting to using the yuan for financing and settlements, supporting China's push to internationalize its currency and reduce US dollar dominance. China leverages its position as the world's largest iron ore buyer to encourage global mining firms to adopt the yuan, with China's relatively low interest rates serving as an additional incentive. Major companies including BHP have begun making the transition.
The US Customs and Border Protection has processed $35.46 billion in refunds including interest as of May 11 for tariffs imposed by former President Trump that were deemed illegal. The agency received 126,237 refund applications and validated 86,874 of them covering 15.1 million shipment entries, according to a court filing.
The US Senate voted 51-45 to confirm Kevin Warsh as a governor on the Federal Reserve Board for a 14-year term. Warsh will assume the role of Federal Reserve chair later this week, succeeding incumbent Jerome Powell. The confirmation comes as the world's largest economy faces inflation at a three-year high. The Senate will hold a separate vote to confirm Warsh's appointment as chair.
ByteDance's Volcano Engine cloud unit has released ArkClaw, an OpenClaw-based cloud agent tool, positioning itself to capitalize on the next phase of AI through reduced token costs, improved inference efficiency, and expanded context windows. Li Guodong, chief architect of ArkClaw, noted that agent-related token consumption currently represents a single-digit percentage of total usage but is growing rapidly.
METiS TechBio, a Hong Kong-listed biotech company, surged 173 percent on its debut Wednesday, with opening price of HK$28.68 significantly exceeding the IPO price of HK$10.50. The AI-driven drug design startup attracted strong investor demand, reflecting bullish sentiment toward AI-related stocks in Hong Kong. CEO Lai Tsai-Ta holds a PhD from MIT.
US President Trump departed for China this afternoon to meet with Chinese President Xi Jinping. Before leaving the White House, Trump told media that both sides are looking forward to the meeting and stated that "many good things will happen." The Trump-Xi meeting has drawn international attention, with expectations that it will address long-standing US-China issues.
Dr. Cheng Wen-fang, a prominent obstetrician-gynecologist formerly at National Taiwan University Hospital, was convicted of drugging and sexually assaulting three female business professionals between 2020 and 2021. After fleeing to Canada in 2021, he was arrested and extradited back to Taiwan in October 2023. Taipei District Court issued its verdict yesterday, and the Ministry of Health and Welfare announced the revocation of his medical license and suspension of practice.
Chen Tai-yin, a retired sergeant first class from the Army's Sixth Army Corps, was recruited by Chinese intelligence operatives to solicit active-duty Captain Li Jun-da to photograph unpublished professional officer training materials. The documents were transmitted via WeChat to Chinese intelligence handlers in exchange for over 70,000 yuan. The Taipei District Prosecutors Office indicted both individuals on charges of violating the National Security Act and the Anti-Corruption Act.
The US April Consumer Price Index (CPI) showed significant increases in both headline and core measures, exceeding forecasts. Rising energy prices are driving inflation and spreading to other sectors, while real wages have turned negative. Economists note that inflationary pressures are becoming increasingly apparent. Despite the Federal Reserve's upcoming leadership transition to dovish Chair Powell, the probability of rate cuts within the next six months has diminished considerably.
Russia announced a successful test of its new Sarmat intercontinental ballistic missile capable of carrying nuclear warheads. President Putin stated that Russia will deploy the missile system by year-end. The announcement highlights Russia's military modernization efforts and has drawn international attention regarding strategic weapons development.
Taiwan's National Cybersecurity Research Center discovered an internal security breach where employees allegedly installed malware to collect classified documents and upload them to cloud storage for unauthorized access. Investigators suspect former research center deputy director Hsu Shih-chang directed the operation. The Taipei District Prosecutors Office ordered the Investigation Bureau to question Hsu on March 12th regarding alleged computer misuse violations.
The U.S. Senate confirmed Kevin Warsh as Federal Reserve governor with a 51-45 vote, securing a 14-year term. The Senate simultaneously initiated confirmation proceedings for Warsh's nomination as Fed chair, with a final vote expected as early as Wednesday. Current Chair Jerome Powell's term ends Friday. The vote largely split along party lines, with only Democratic Senator John Fetterman supporting Warsh.
US President Trump is scheduled to meet Chinese President Xi Jinping in Beijing on Thursday and Friday this week. The summit addresses US-China trade tensions, Iran situation, Taiwan strait stability, and supply chain issues. Analysts view this as the highest geopolitical risk bilateral meeting of the year. While major breakthroughs are not expected in the short term, the discussions could significantly impact global markets.
Ransomware group Nitrogen claimed this week to have breached Foxconn and stolen approximately 8TB of data comprising 11 million files. The hackers stated they obtained confidential instructions, project files, and design sketches belonging to clients including Intel, Apple, Dell, and Nvidia. The incident occurred following IT problems at Foxconn's US facility in early May.
Reuters reports that Iraq and Pakistan have separately reached agreements with Iran to ensure their crude oil and liquefied natural gas can transit through the Persian Gulf. The Hormuz Strait controls 20% of global oil and LNG flows but faces practical blockade due to Middle East conflicts. Analysts note Iran has shifted from attempting to block the strait to controlling access, transforming a neutral transit route into a controlled corridor.
Russia's Defense Ministry announced the ceasefire agreement ended at midnight on January 11, with Russian forces resuming military operations. Russian forces struck Ukrainian military targets across 56 regions, including airports and ammunition depots, downing 108 fixed-wing drones. Ukraine's Armed Forces General Staff reported 174 combat engagements along the front line in the past day, with Ukrainian forces repelling Russian attacks across multiple directions and downing 1,252 Russian drones.
US President Trump boarded Air Force One on Tuesday afternoon to travel to China, with Nvidia CEO Jensen Huang confirmed to accompany him. Trump expressed enthusiasm for the visit on social media, calling China a remarkable country. The White House announced 16 American business leaders will visit Beijing, spanning technology, finance, aviation, and agriculture sectors, including executives from Tesla and Apple.
The United States and Denmark are negotiating military deployment in Greenland, planning to establish three new US military bases to counter Chinese and Russian activities in the Arctic. Greenland's Prime Minister confirmed the negotiations but emphasized that Greenland's sovereignty is non-negotiable. The two parties have not yet reached a final agreement.
Iran has expanded its defined control range over the Strait of Hormuz, impacting global energy markets and prompting the US to raise oil price forecasts. In a rare consensus, the United States and China jointly oppose any nation collecting transit fees through the strategic waterway, highlighting the strait's geopolitical significance and competing international interests.
The US April Producer Price Index (PPI) rose 1.4% monthly, far exceeding market expectations of 0.5%, with annual growth reaching 6.0%—the largest increase since 2022. Rising oil prices due to Iran tensions and shipping disruptions in the Strait of Hormuz have driven up energy and logistics costs. Markets now expect the Federal Reserve to maintain higher rates longer, with traders pricing in approximately 50% probability of another rate hike this year, pushing US Treasury yields higher.
A taxi driven by a man in his seventies lost control and veered onto a pedestrian walkway in Ngau Tau Kok, Hong Kong on Wednesday afternoon. The vehicle crashed into a concrete planter, striking two women in their thirties. One woman was killed and the other left unconscious. The driver and his two passengers were also injured in the incident that occurred around 1:50pm on Choi Ha Road near Chun Wah Road.