Wang Kuiran, secretary general of Xinjiang's regional government, reported that the textile industry expanded last year despite US-led trade restrictions. Yarn output increased over 20 percent in 2025, generating approximately 46,800 jobs. Officials pledged stronger legal support for affected companies to protect their rights and interests amid ongoing sanctions.
Despite financial markets weathering geopolitical crises including U.S.-Iran tensions and Russia's Ukraine invasion, former Goldman Sachs CEO Lloyd Blankfein warned in a recent Financial Times interview that investors have become increasingly complacent about financial risks since the 2008 crisis. Experts suggest markets may not fully grasp the true nature of current threats to the financial system.
Chinese telecom and computing equipment maker ZTE reported 2025 revenue of 134 billion yuan ($19 billion), up 10.4% year-on-year. The computing business surged 150% to represent 24.6% of total sales amid the AI boom. However, net profit attributable to shareholders fell 33.3% to 5.62 billion yuan, while net profit excluding non-recurring items declined 45.5% to 3.37 billion yuan.
The global super-luxury property market is being reshaped by wealth migration as activity rebounds after two subdued years. In Sydney, Plus Agency's general manager Peter Li reported super-luxury home commission revenues rose approximately 20 percent year-over-year, with the firm handling over US$300 million in annual sales and hiring six new staff members. While Dubai's dominance faces challenges from Middle East tensions, wealth flows from Sydney to Hong Kong are revitalizing the sector.
Singapore developers are experiencing significant pressure from China's prolonged property downturn, facing declining rents, higher vacancy rates, and falling asset values. However, analysts suggest that given China's massive market size and supportive government policies, most investors are unlikely to exit entirely. Instead, they are becoming more selective in their investment decisions. Recent earnings reports from several Singapore developers reveal mounting pressure across their China portfolios.
US Customs and Border Protection official Brandon Lord announced in a court filing that the agency will establish a system within 45 days to process refunds for President Trump's tariffs ruled illegal. Government lawyers met with a federal trade judge to develop a settlement process for returning $166 billion in tariff payments to approximately 330,000 importers. The US Supreme Court previously struck down the tariffs as unlawful.
The US unexpectedly shed 92,000 jobs in February, marking a sharp reversal from January's job growth of 126,000, according to Labour Department data released Friday. The unemployment rate rose to 4.4% from 4.3%, putting pressure on President Trump's economic agenda ahead of upcoming midterm elections. White House economic adviser Kevin Hassett responded to the figures.