Companies are reconsidering their artificial intelligence investments as operational costs continue to rise faster than tangible returns. Following ChatGPT's launch, AI firms offered discounted pricing to attract customers, with investors subsidizing expenses. However, market dynamics are shifting as costs escalate beyond the actual value delivered, prompting enterprises to reevaluate their AI investment strategies.
As artificial intelligence strains existing data centre capacity, scientists and investors are turning to photonics as the next computing frontier. Mi Lei, founder of CAS Star, a venture capital firm spun out of China's state-run Academy of Sciences, has spent over a decade funding photonics technology. The recent global interest in photonics validates his long-term investment thesis.
India's Defence Secretary Rajesh Kumar Singh announced that India has signed an agreement with Vietnam to supply BrahMos missiles, jointly developed with Russia, and is in final stages of a similar deal with Indonesia. Speaking at the Shangri-La Dialogue in Singapore, Singh emphasized India's strong commitment to ASEAN nations but declined to disclose further details about the missile agreements.
China's rare earth export controls, deployed in its trade conflict with the US, have raised global concerns. Japan is familiar with such restrictions, having experienced supply disruptions during a 2010 dispute with China. With deteriorating China-Japan diplomatic relations, Japan's rare earth trade faces uncertain prospects and potential supply risks.
Russia's state nuclear company Rosatom reported that a Ukrainian drone struck the Russian-controlled Zaporizhzhia nuclear plant, Europe's largest facility, on Saturday. The incident allegedly damaged a wall in the turbine hall of Power Unit No. 6 but caused no harm to critical equipment, according to Rosatom head Alexei Likhachev, who called it a deliberate attack. Ukraine's Kyiv military denied the claim.
Philippine Defence Secretary Gilberto Teodoro Jr. stated at the Shangri-La Dialogue in Singapore that while ASEAN members have conflicting claims in the South China Sea, mutual trust exists within the bloc. He singled out China as the biggest obstacle to establishing a code of conduct, criticizing Beijing for disregarding an international arbitral tribunal's ruling.
Hong Kong's Secretary for Innovation, Technology and Industry Sun Dong announced that the city could receive a visit from the Shenzhou-23 mission astronauts, including Hong Kong's payload specialist Lai Ka-ying, in the first half of next year. The government also plans to establish a new space manufacturing research centre under InnoHK this year, focusing on 3D printing and artificial intelligence technologies.
Hong Kong's largest non-profit organisation, the Tung Wah Group of Hospitals, announced it will provide HK$30,000 to residents displaced by the Tai Po fire who agree to transfer their flat ownership to the government. The organisation's chief executive revealed over 1,000 inquiries have been received regarding their legal aid scheme. The November fire killed 168 people and displaced approximately 5,000 residents.
India's Defence Secretary Rajesh Kumar Singh announced that India has signed an agreement with Vietnam to supply BrahMos missiles, jointly developed with Russia, and is in final stages of a similar deal with Indonesia. Speaking at the Shangri-La Dialogue in Singapore, Singh emphasized India's strong commitment to ASEAN nations but declined to disclose further details about the missile agreements.
The US plans to collaborate with South Korea and Japan on warship design and construction to narrow its fleet size gap with China. Despite domestic opposition, analysts argue outsourcing is necessary. The next fiscal year budget allocates $1.85 billion for studying the outsourcing of frigate and destroyer design and construction.
South Korea and the United States are preparing for talks in Seoul next week with divergent priorities regarding last year's summit agreement implementation. President Lee Jae Myung seeks US approval for nuclear fuel use in South Korea's submarines, while Washington pushes Seoul to fulfill its previously pledged US$350 billion investment commitment. Both nations must balance nuclear cooperation with economic obligations.
East Asian societies are becoming wealthier, healthier, and more educated, yet birth rates continue to decline. The region's total fertility rate has fallen below one birth per woman, far below the replacement level of 2.1. Despite significant government investment in policies aimed at increasing birth rates, results have been disappointing, indicating that raising fertility alone cannot fully address East Asia's demographic challenges.
New Zealand's Finance Minister Nicola Willis stated the country lacks sufficient fiscal headroom to significantly increase defence spending. US Defence Secretary Pete Hegseth criticized New Zealand's 2 percent defence spending target as insufficient, suggesting nations should aim for 3.5 percent. Willis indicated such an increase would be extremely challenging, highlighting disagreement between the two nations on defence budget expectations.
The Philippines faces escalating challenges from AI-generated disinformation used for political propaganda. Former President Duterte's supporters pioneered industrialised social media disinformation campaigns, deploying memes, videos, and paid amplifiers to attack opponents. Modern information warfare now requires only a smartphone and well-crafted AI prompts, making coordinated disinformation campaigns increasingly accessible and difficult to counter.
Russia's state nuclear company Rosatom reported that a Ukrainian drone struck the Russian-controlled Zaporizhzhia nuclear plant, Europe's largest facility, on Saturday. The incident allegedly damaged a wall in the turbine hall of Power Unit No. 6 but caused no harm to critical equipment, according to Rosatom head Alexei Likhachev, who called it a deliberate attack. Ukraine's Kyiv military denied the claim.
Hong Kong Post faces severe financial difficulties, prompting authorities to inject HK$4.6 billion (US$587 million) over three years. Analysts suggest that funding alone may be insufficient and recommend converting Hong Kong Post back to a government-funded public service department. The postal operator has been self-funded since 1995 and now confronts losses similar to those affecting postal services worldwide.
MiniMax Group, a Shanghai-based Chinese artificial intelligence company, has officially initiated plans to list on mainland China's stock market. The company signed an agreement with Citic Securities to prepare for issuing yuan-denominated shares. This dual-listing strategy will provide onshore investors access to AI companies beyond chipmakers and expand the company's capital market presence.
Hong Kong's finance chief announced the city is considering establishing a new offshore renminbi venture fund to direct capital toward cutting-edge technology and emerging industries while promoting yuan internationalization. The initiative aligns with China's latest five-year plan, which calls for Hong Kong to strengthen its role as an international financial hub and expand its offshore renminbi business operations.
Construction projects are underway in Cotonou, Benin's largest city and economic hub on the Atlantic coast. China Harbour Engineering Company is developing Terminal 5 at the Autonomous Port of Cotonou, involving land reclamation and construction of two 100,000-tonne general purpose berths. Beyond port upgrades, Chinese enterprises are participating in road paving and other commercial infrastructure improvements, marking a significant role in Benin's economic growth.
Hong Kong's student housing sector is entering a new phase with larger institutional-style deals emerging from the distressed commercial property market, signalling professional investors are cautiously returning after years of declining asset values. The market is moving beyond smaller hotel conversions that dominated recent years, with larger transactions expected as financing conditions improve and distressed sales accelerate.
China's rare earth export controls, deployed in its trade conflict with the US, have raised global concerns. Japan is familiar with such restrictions, having experienced supply disruptions during a 2010 dispute with China. With deteriorating China-Japan diplomatic relations, Japan's rare earth trade faces uncertain prospects and potential supply risks.
Nankai University removed Chen Quan as dean of its College of Life Sciences after a high-profile blogger raised concerns about research integrity. Chen, serving as corresponding author, failed to properly oversee experimental data quality and authenticity in a 2024 Nature Cancer publication. Multiple Chinese universities have taken disciplinary action against senior scientists involved following the whistleblower allegations.
SpaceX's anticipated $1.8 trillion IPO valuation and Starship rocket progress have renewed expectations of the company dominating the space market. The company demonstrates clear competitive strengths, including the highest launch frequency, cost efficiency, internal demand from Starlink satellite internet, and unmatched scale among private competitors. However, achieving true global space market dominance faces multiple challenges and uncertainties.
A product developed by Hong Kong University for treating eczema may help combat antimicrobial resistance (AMR), a growing global health crisis. Decades of antibiotic overuse and misuse have enabled bacteria to develop resistance, creating dangerous superbugs. This innovation represents a new approach to addressing the antimicrobial resistance challenge that threatens modern medicine and public health worldwide.
Alibaba Group and UEFA have signed an exclusive six-year partnership to introduce 360-degree replay technology to major European football tournaments. The collaboration leverages Alibaba's Qwen artificial intelligence model, positioning UEFA alongside the International Olympic Committee and NBA China as key partners. The technology aims to support European football's digital transformation and enhance fan engagement across major sporting events.
Companies are reconsidering their artificial intelligence investments as operational costs continue to rise faster than tangible returns. Following ChatGPT's launch, AI firms offered discounted pricing to attract customers, with investors subsidizing expenses. However, market dynamics are shifting as costs escalate beyond the actual value delivered, prompting enterprises to reevaluate their AI investment strategies.
As artificial intelligence strains existing data centre capacity, scientists and investors are turning to photonics as the next computing frontier. Mi Lei, founder of CAS Star, a venture capital firm spun out of China's state-run Academy of Sciences, has spent over a decade funding photonics technology. The recent global interest in photonics validates his long-term investment thesis.
The US Central Command announced that American forces fired a missile at a Gambian-flagged cargo ship attempting to reach Iran, hitting the engine room and disabling the vessel. The strike represents enforcement of US maritime restrictions against Iran.
Lebanese Prime Minister Nawaf Salam condemned Israel on the 30th for pursuing a scorched-earth policy, as Israel continues airstrikes on southern Lebanon and issues evacuation warnings to multiple locations. The conflict has resulted in over 3,000 deaths. Salam called for an immediate ceasefire between both sides.
US Defense Secretary Hegseth delivered remarks at the Shangri-La Dialogue in Singapore, warning of China's rapid military expansion and calling on Asian allies to increase defense spending to counter China's growing military capabilities and prevent Beijing from achieving regional dominance. While Hegseth did not mention Taiwan in his speech, he addressed questions about US military sales to Taiwan when asked by reporters.
SoftBank Group founder Masayoshi Son announced that SoftBank will invest approximately 75 billion euros in France to build artificial intelligence infrastructure. The company plans to invest 45 billion euros by 2031 to construct two AI data centers in northern France, marking Europe's largest-scale investment in this sector.
Taiwan's Legislative Yuan approved a special military procurement budget of NT$8.81 billion for fiscal year 2026 to purchase defense equipment from the United States. The US State Department expressed support for Taiwan's acquisition of critical defense capabilities commensurate with the threats it faces, emphasizing Taiwan's need for adequate defensive equipment.
China has expelled New York Times Beijing correspondent Vivian Wang, citing President Lai's video interview with the outlet from late last year. Presidential Spokesperson Kuo Ya-hui strongly condemned China's interference with press freedom, stating Taiwan will not back down and highlighting China's authoritarian nature through this action.
Australia and the United States announced adjustments to the AUKUS agreement's nuclear submarine acquisition plan. Australia will purchase existing US Navy nuclear-powered submarines to replace its original plan to construct new vessels domestically. This approach aims to accelerate submarine deployment, strengthen Australian naval capabilities, and streamline procurement procedures and costs.
US President Trump has significantly revised and tightened the terms of the US-Iran ceasefire memorandum of understanding, particularly regarding Iran's nuclear material handling provisions. The move comes after Iran's delayed response to American proposals. Trump held a meeting at the White House situation room on the 29th to mandate the changes, followed by another two-hour meeting with senior advisors the next day. US officials indicate the revised proposal takes a harder stance aimed at increasing pressure on Iran to accelerate negotiations.
Israel raised its national flag above the medieval Beaufort Castle in southern Lebanon on the 31st, simultaneously warning Lebanese civilians to evacuate large areas of southern Lebanon ahead of expanded Israeli ground military operations in the country.
US Defense Secretary Hegseths stated that the United States is prepared to resume military operations against Iran if Tehran fails to reach an agreement with Washington. The statement reflects America's hardline position on Iran nuclear negotiations and serves as a clear warning to Iran regarding potential consequences of failed diplomatic efforts.
Russian authorities reported that Ukrainian drones conducted overnight strikes against energy and industrial facilities across multiple Russian locations. The attacks reflect an intensifying campaign targeting Russian infrastructure. In the ongoing Ukraine-Russia conflict, critical infrastructure has become a key target for both sides.
AI company Anthropic completed Series H funding with $6.5 billion raised, achieving a post-money valuation of $96.5 billion and surpassing OpenAI's previous valuation of $85.2 billion to become the world's most valuable AI company. Notably, all three major HBM manufacturers—Micron, Samsung, and SK Hynix—simultaneously became shareholders for the first time, marking a rare collaboration among fierce competitors in the semiconductor industry.
Japanese SoftBank Group announced plans to invest up to 75 billion euros in France to build a large-scale artificial intelligence computing cluster network, marking Europe's largest data center development project and SoftBank's largest AI investment commitment outside the United States. The investment initiative stems from a meeting between French President Macron and SoftBank founder Masayoshi Son in Tokyo in early April, where Macron highlighted France's nuclear energy resources and efficient AI infrastructure approval processes.
SoftBank Group Chairman Masayoshi Son announced a €75 billion investment to construct Europe's largest artificial intelligence facility in France, positioning the country at the center of his global AI strategy. This commitment underscores SoftBank's focus on European AI development and reinforces France's role in the global technology sector.
Médecins Sans Frontières expresses concern over the expanding Ebola outbreak in the Democratic Republic of Congo. The warning comes as the World Health Organization's head visits the hardest-hit regions to assess the epidemic response and situation on the ground.
Hong Kong faces mounting challenges in cancer prevention and treatment. The report examines rising cancer patient numbers, healthcare resource allocation, prevention initiatives, and how government and medical institutions are responding to this public health crisis to improve patient outcomes and quality of life.
Since Hong Kong began modern cancer tracking in 1983, new cases have more than doubled from 15,000 to 38,000, yet mortality rates have significantly decreased, maintaining one of the lowest rates among developed nations. Despite these achievements, Hong Kong faces challenges with late-stage diagnoses and must strengthen its position as a cancer research hub.