https://www.scmp.com/rss/19471/feed en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Jeoffrey Maitem Jeoffrey Maitem Philippine President Ferdinand Marcos Jnr’s net satisfaction rating has hit an all-time low, with observers citing deep-seated economic anxieties as the main driver behind the slump – even as expanded media exposure has helped boost awareness of his foreign policy initiatives. The latest Social Weather Stations survey put Marcos’ net satisfaction rating at minus 15 in March: a 12-point drop from minus 3 in November 2025 and the worst figure of his presidency, eclipsing the previous nadir of... https://www.scmp.com/week-asia/politics/article/3355665/philippine-president-marcos-ratings-hit-record-low-inflation-bites?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3355665/philippine-president-marcos-ratings-hit-record-low-inflation-bites?utm_source=rss_feed Tue, 02 Jun 2026 06:55:44 +0000 Letters Letters Feel strongly about these letters, or any other aspects of the news? Share your views by emailing us your Letter to the Editor at letters@scmp.com or filling in this Google form. Submissions should not exceed 400 words. If the world is waiting for Washington to stumble into a broad diplomatic resolution to the Hormuz crisis, it’s time to wake up. Passively waiting for an American-authored peace isn’t neutrality, it is economic suicide. While a global recession is hardly in the United States’... https://www.scmp.com/opinion/letters/article/3355531/asia-cant-wait-us-lift-its-naval-blockade-iran?utm_source=rss_feed https://www.scmp.com/opinion/letters/article/3355531/asia-cant-wait-us-lift-its-naval-blockade-iran?utm_source=rss_feed Tue, 02 Jun 2026 03:30:06 +0000 Ushar Daniele Ushar Daniele Asia’s fuel needs may take priority over the strategic risks of relying on oil from heavily sanctioned Russia, according to experts. Currently, there is little political appetite to treat the surge of Moscow’s crude flowing eastward through a “dark fleet” of tankers as a potential security issue. The US-Israeli war on Iran has caused the price of Brent crude – the benchmark measure – to spike to above US$100 since March, although talks with Washington have seen the price soften in recent days to... https://www.scmp.com/week-asia/economics/article/3355618/why-oil-hungry-asia-ignores-risks-linked-russias-dark-fleet?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3355618/why-oil-hungry-asia-ignores-risks-linked-russias-dark-fleet?utm_source=rss_feed Tue, 02 Jun 2026 02:03:12 +0000 Biman Mukherji Biman Mukherji Oil prices have eased sharply on hopes that the US and Iran will agree to reopen the Strait of Hormuz, but analysts say Asian economies are unlikely to quickly shake off the effects of the energy shock even if the key waterway returns to normal. Benchmark Brent crude oil fell 11.15 per cent to US$92.13 per barrel on Friday, from its level a week earlier, its steepest weekly drop since early April. Prices edged up again on Monday, trading at about US$93 per barrel during Asian afternoon trading... https://www.scmp.com/week-asia/economics/article/3355584/oil-prices-rally-hormuz-talks-will-asias-energy-woes-ease?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3355584/oil-prices-rally-hormuz-talks-will-asias-energy-woes-ease?utm_source=rss_feed Mon, 01 Jun 2026 11:46:24 +0000 Carol Yang Carol Yang Businesses around the world are confronting a painful – and potentially long-lasting – rise in costs amid the US-Israel war on Iran, as global shipping firms introduce steep price increases to offset a mounting fuel crisis. In Shanghai, one of the world’s busiest ports, the price of shipping a container has already surged dramatically since the start of the war, according to the Shanghai Containerised Freight Index – a gauge tracking spot rates across 13 global trade lanes out of the city. The... https://www.scmp.com/economy/china-economy/article/3355536/businesses-face-huge-spike-shipping-costs-hormuz-fuel-crisis-deepens?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355536/businesses-face-huge-spike-shipping-costs-hormuz-fuel-crisis-deepens?utm_source=rss_feed Mon, 01 Jun 2026 08:30:06 +0000 Matthew Cheng Matthew Cheng Hong Kong’s finance chief has said the Middle East war has played only a limited role in driving up local inflation, noting the city’s service-based economy and stable energy supplies from mainland China have mitigated the effects of external shocks. Briefing the Legislative Council on Monday, Financial Secretary Paul Chan Mo-po said the surge in global fuel prices was expected to affect fuel-related consumer prices, pushing inflation higher. “Rising international oil prices will continue to... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355520/impact-middle-east-war-hong-kongs-inflation-limited-says-finance-chief?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355520/impact-middle-east-war-hong-kongs-inflation-limited-says-finance-chief?utm_source=rss_feed Mon, 01 Jun 2026 06:10:55 +0000 Athanasios Platias,Vasilis Trigkas Athanasios Platias,Vasilis Trigkas Sun Tzu wrote that “fighting and winning all your battles is not the height of skill; subduing the enemy without fighting is the height of skill”. That maxim offers perhaps the clearest lens to interpret the logic of American grand strategy under US President Donald Trump. What many dismiss as inconsistency may conceal a patient strategic deception. The aim is not direct confrontation, but the quiet reshaping of the global economy in support of long-term US power. The US wants to improve its... https://www.scmp.com/opinion/china-opinion/article/3355267/us-quietly-plays-long-game-energy-dominance-against-china?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3355267/us-quietly-plays-long-game-energy-dominance-against-china?utm_source=rss_feed Sun, 31 May 2026 12:30:05 +0000 Sheheryar Bilal Sheheryar Bilal When Philippine President Ferdinand Marcos Jnr accepted the Asean gavel from Malaysian counterpart Anwar Ibrahim in Kuala Lumpur last October, the script was already written: a packed agenda, South China Sea diplomacy in the spotlight and a regional digital economy deal to clinch. Then the world changed. On February 28, US and Israeli forces struck Iran. The Strait of Hormuz, an artery of global shipping through which 98 per cent of the Philippines’ crude oil imports travel, became a war zone.... https://www.scmp.com/opinion/asia-opinion/article/3354849/why-philippines-walks-delicate-balance-asean-chair?utm_source=rss_feed https://www.scmp.com/opinion/asia-opinion/article/3354849/why-philippines-walks-delicate-balance-asean-chair?utm_source=rss_feed Fri, 29 May 2026 21:30:06 +0000 Finbarr Bermingham Finbarr Bermingham The European Commission agreed on a tough new approach to trade relations with China, at a rare Beijing-focused debate among Brussels’ leadership on Friday. In a presentation, trade chief Maros Sefcovic laid out why the bloc needed to take stronger steps to defend itself from what is described as a new “China shock” to its industries, according to people briefed on the event. This may require developing a new instrument to compel companies in critical sectors to expand both the number and the... https://www.scmp.com/news/china/diplomacy/article/3355380/brussels-fires-starting-gun-tougher-china-trade-policy-beijing-vows-retaliation?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3355380/brussels-fires-starting-gun-tougher-china-trade-policy-beijing-vows-retaliation?utm_source=rss_feed Fri, 29 May 2026 16:17:23 +0000 Associated Press Associated Press A key inflation gauge accelerated in April to the highest level in three years, the latest sign that spiking gas prices and higher food costs are squeezing Americans’ finances. Inflation jumped to 3.8 per cent in April compared with a year ago, the Commerce Department said on Thursday, up from 3.5 per cent in March and the highest since May 2023. On a monthly basis, prices rose 0.4 per cent, down from the 0.7 per cent jump in March. The report showed that prices have risen for many items in... https://www.scmp.com/news/world/united-states-canada/article/3355214/us-key-inflation-gauge-worsens-eroding-americans-income-and-spending-power?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3355214/us-key-inflation-gauge-worsens-eroding-americans-income-and-spending-power?utm_source=rss_feed Thu, 28 May 2026 13:37:22 +0000 Themis Qi Themis Qi Contemporary Amperex Technology Ltd (CATL) hopes to use its energy-storage business to build on its global dominance in electric vehicle (EV) batteries, as the global oil crisis creates a surge in demand for its technologies and products. The company, which commands nearly 40 per cent of the world’s EV battery market, announced on Thursday the official launch of a 3 billion yuan (US$442.52 million) research facility in Xiamen, a city in China’s southeastern Fujian province. The Xiamen Energy... https://www.scmp.com/business/china-business/article/3355190/catl-set-boost-global-energy-storage-worlds-largest-testing-facility-xiamen?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3355190/catl-set-boost-global-energy-storage-worlds-largest-testing-facility-xiamen?utm_source=rss_feed Thu, 28 May 2026 11:30:06 +0000 Xinyi Wu Xinyi Wu Chinese Premier Li Qiang inspected strategic oil reserves and grain stockpiles in one of China’s main economic hubs earlier this week, as the world’s second-largest economy steps up efforts to insulate itself from the Strait of Hormuz crisis. During a trip to Zhoushan and Ningbo in China’s eastern Zhejiang province, Li called for the accelerated construction of commodity distribution hubs to safeguard China’s national security. He also stressed the need to maintain adequate reserves of essential... https://www.scmp.com/economy/china-economy/article/3355162/chinese-premier-tours-oil-grain-stockpiles-beijing-boosts-iran-war-response?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355162/chinese-premier-tours-oil-grain-stockpiles-beijing-boosts-iran-war-response?utm_source=rss_feed Thu, 28 May 2026 09:03:29 +0000 Carol Yang Carol Yang With victory in the global race to build artificial intelligence capacity heavily dependent on resilient power systems, China is urging domestic enterprises to launch pilot projects that integrate the cutting-edge technology into the energy sector. To support the plan, Beijing has released an official list of application scenarios ranging from smart grids to autonomous coal mines. Energy enterprises would be able to partner with artificial intelligence providers and jointly submit proposals for... https://www.scmp.com/economy/china-economy/article/3355153/china-plans-embed-ai-energy-infrastructure-optimise-power-grid-efficiency?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355153/china-plans-embed-ai-energy-infrastructure-optimise-power-grid-efficiency?utm_source=rss_feed Thu, 28 May 2026 08:14:19 +0000 Enoch Yiu Enoch Yiu Charles Li Xiaojia, the longest-serving CEO of Hong Kong Exchanges and Clearing (HKEX), defined a decade of city finance by bridging the gap between Chinese and global capital. From his early days as an offshore oil worker in northeastern China to serving as chairman of JPMorgan Chase’s China division, Li’s career has resembled China’s own economic opening. In his 11 years as HKEX CEO before stepping down in 2021, Li masterminded the landmark Stock Connect schemes linking the Hong Kong market... https://www.scmp.com/plus/business/china-business/article/3355126/charles-li-making-hong-kong-magnet-global-ipos?utm_source=rss_feed https://www.scmp.com/plus/business/china-business/article/3355126/charles-li-making-hong-kong-magnet-global-ipos?utm_source=rss_feed Thu, 28 May 2026 05:45:05 +0000 Alice Li Alice Li Chinese energy companies are poised to play an important role in Southeast Asia’s ambitious green transition plans, which will see countries across the region integrate their power grids, according to a senior Singaporean official. The strategy could eventually lead to a cross-regional network running all the way from Singapore to southern China via nations including Malaysia and Thailand, according to Puah Kok Keong, chief executive of the Energy Market Authority of Singapore – the city state’s... https://www.scmp.com/economy/china-economy/article/3355042/how-southeast-asias-ambitious-green-transition-strategy-windfall-china?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355042/how-southeast-asias-ambitious-green-transition-strategy-windfall-china?utm_source=rss_feed Thu, 28 May 2026 01:00:09 +0000 Agence France-Presse Agence France-Presse US President Donald Trump on Wednesday appeared to threaten to attack ally Oman if it sides with Iran over reopening the Strait of Hormuz. Trump said Oman must “behave” or he would “blow them up”, when he was asked if he would accept a short-term deal to allow Iran and the Gulf state to control the waterway. “No, the strait is going to be open to everybody,” Trump told reporters during a cabinet meeting at the White House. “It’s international waters and Oman will behave just like everybody else... https://www.scmp.com/news/world/middle-east/article/3355091/trump-appears-threaten-blow-oman-after-question-iran-and-hormuz?utm_source=rss_feed https://www.scmp.com/news/world/middle-east/article/3355091/trump-appears-threaten-blow-oman-after-question-iran-and-hormuz?utm_source=rss_feed Wed, 27 May 2026 21:17:48 +0000 Edith Lin Edith Lin Customers of Hong Kong’s CLP Power are facing higher electricity bills in June, with the company increasing its fuel cost charge by 5.4 per cent from May, its third consecutive monthly rise. CLP Power, which serves more than 80 per cent of Hong Kong’s population, announced on Tuesday that its fuel cost adjustment for June would rise to 42.6 HK cents (5.4 US cents) per kilowatt-hour (kWh), up from 40.4 cents in May. CLP’s monthly fuel cost charge has been rising steadily since March. The charge... https://www.scmp.com/news/hong-kong/society/article/3354908/clp-power-raise-electricity-price-fourth-straight-month-june?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3354908/clp-power-raise-electricity-price-fourth-straight-month-june?utm_source=rss_feed Tue, 26 May 2026 10:04:37 +0000 Carol Yang Carol Yang A major diplomatic breakthrough between Washington and Tehran could signal sanctions relief for Iran, a development analysts say bodes well for China, the primary buyer of Iranian oil. Negotiations have advanced on a proposed 60-day ceasefire extension, the reopening of the Strait of Hormuz and the US side issuing temporary sanctions waivers that would allow Iran to sell oil freely, Axios reported on Saturday, citing a US official. Any such relief would only be implemented under a final... https://www.scmp.com/economy/global-economy/article/3354765/how-china-could-benefit-us-iran-talks-raise-hopes-oil-sanctions-relief?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3354765/how-china-could-benefit-us-iran-talks-raise-hopes-oil-sanctions-relief?utm_source=rss_feed Mon, 25 May 2026 13:00:06 +0000 Reuters,The Star Reuters,The Star Three people ⁠were killed ⁠and one was ⁠injured in an accident during lifeboat maintenance work at a floating storage and offloading (FSO) vessel operated by Malaysian state energy ‌firm Petronas on Sunday, the firm said. Petronas, or Petroliam Nasional Berhad, said in a statement on Monday the incident occurred around 12.50pm at FSO Sepat off Terengganu state on the east coast of Peninsular Malaysia. Three ‌workers were pronounced dead on arrival at the hospital, while the injured ‌staff member... https://www.scmp.com/news/asia/southeast-asia/article/3354717/3-killed-malaysia-after-lifeboat-falls-sea-petronas-floating-vessel?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3354717/3-killed-malaysia-after-lifeboat-falls-sea-petronas-floating-vessel?utm_source=rss_feed Mon, 25 May 2026 03:18:08 +0000 Biman Mukherji Biman Mukherji Southeast Asia has been planning a unified electricity grid since 1997. Now, nearly 30 years later, its leaders are giving renewed impetus to the push to get energy flowing seamlessly across borders and seabeds. In Cebu earlier this month, leaders of the Association of Southeast Asian Nations put the power grid’s development high on their summit agenda, aiming to better insulate the region against the next big energy shock. But as regional governments try to turn the decades-long dream of an... https://www.scmp.com/week-asia/health-environment/article/3354531/shock-absorber-will-aseans-power-grid-be-task-2045?utm_source=rss_feed https://www.scmp.com/week-asia/health-environment/article/3354531/shock-absorber-will-aseans-power-grid-be-task-2045?utm_source=rss_feed Mon, 25 May 2026 00:00:14 +0000 Bloomberg Bloomberg Oil fell as senior US officials gave further, positive signals on progress towards a deal with Iran to reopen the Strait of Hormuz. Brent lost as much as 6.2 per cent to US$97.10 a barrel, while West Texas Intermediate was near US$91. Secretary of State Marco Rubio struck a cautiously upbeat tone, saying the US was going to give diplomacy every chance. “We thought we might have some news last night,” he said in New Delhi. “Maybe today.” At the weekend, US President Donald Trump said... https://www.scmp.com/news/article/3354707/crude-oil-drops-us-inches-towards-iran-deal-reopen-strait-hormuz?utm_source=rss_feed https://www.scmp.com/news/article/3354707/crude-oil-drops-us-inches-towards-iran-deal-reopen-strait-hormuz?utm_source=rss_feed Sun, 24 May 2026 23:16:01 +0000 Bloomberg Bloomberg India’s state-run refiners raised retail prices again of diesel and petrol on Saturday to help processors cut losses on discounted sales and to control a spike in demand. Prices of both fuels rose by nearly one per cent, or less than 1 rupee, with petrol now sold at 99.51 rupees (US$1.0399) and diesel at 92.49 rupees per litre in New Delhi, according to the website of Indian Oil Corporation, the country’s largest fuel retailer. Prices vary across India due to local taxes. Smaller peers Bharat... https://www.scmp.com/news/asia/south-asia/article/3354640/india-raises-diesel-petrol-prices-3rd-time-8-days-amid-tense-us-iran-ceasefire?utm_source=rss_feed https://www.scmp.com/news/asia/south-asia/article/3354640/india-raises-diesel-petrol-prices-3rd-time-8-days-amid-tense-us-iran-ceasefire?utm_source=rss_feed Sat, 23 May 2026 13:03:44 +0000 Coco Feng Coco Feng For nearly two years, China has been waging an intense campaign to eliminate severe overcapacity in the solar industry – an issue that has sparked vicious price wars, undermined domestic firms’ bottom lines, and fuelled protectionist policies overseas. Yet, despite Beijing’s repeated efforts, the problem remains far from resolved. The sector is still plagued by excess capacity, leaving firms across the supply chain operating at a loss. The mismatch between rhetoric and outcomes is particularly... https://www.scmp.com/economy/china-economy/article/3354551/how-illegal-factories-are-undermining-chinas-solar-overcapacity-crackdown?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3354551/how-illegal-factories-are-undermining-chinas-solar-overcapacity-crackdown?utm_source=rss_feed Sat, 23 May 2026 08:00:10 +0000 Reuters Reuters Twenty-seven countries have moved since the Iran war started to put in place crisis instruments that could quickly access funding from existing World Bank programmes, according to an internal document viewed by Reuters. The World Bank document did not name the ‌countries or the total amount of funds potentially being sought. The World Bank declined to comment. The document showed that three countries had approved new instruments since the Middle East conflict began on February 28, while the... https://www.scmp.com/news/world/article/3354599/27-countries-seek-access-world-bank-funds-iran-war?utm_source=rss_feed https://www.scmp.com/news/world/article/3354599/27-countries-seek-access-world-bank-funds-iran-war?utm_source=rss_feed Sat, 23 May 2026 01:35:01 +0000 Alice Li,Sylvia Ma,Kandy Wong Alice Li,Sylvia Ma,Kandy Wong In an era when technology seems to defy all limits, one age-old barrier has managed to endure: geography. As geopolitical turbulence continues to disrupt traffic through the Strait of Hormuz – a vital shipping artery, especially for energy – the search for other fuel sources, and other means of transport, has shifted from a strategic luxury to an existential necessity. This need has become particularly acute for China, a major consumer of fossil fuels. Middle Eastern imports remain a significant... https://www.scmp.com/economy/global-economy/article/3354560/putin-left-china-without-pipeline-deal-why-didnt-hormuz-crisis-open-valve?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3354560/putin-left-china-without-pipeline-deal-why-didnt-hormuz-crisis-open-valve?utm_source=rss_feed Fri, 22 May 2026 22:00:13 +0000 Agence France-Presse Agence France-Presse Canadian Prime Minister Mark Carney said on Friday that Alberta was “essential” to the country’s future, hours after the province’s leader moved the oil-rich region closer towards a referendum on independence. Separatists in the western province spent months collecting signatures seeking to trigger a binding October vote on seceding from the nation. On May 4, they delivered their petition to provincial officials, insisting they had collected more than enough names to force a vote under Alberta... https://www.scmp.com/news/world/united-states-canada/article/3354585/pm-carney-says-alberta-essential-canada-separatist-push-advances?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3354585/pm-carney-says-alberta-essential-canada-separatist-push-advances?utm_source=rss_feed Fri, 22 May 2026 16:30:46 +0000 Biman Mukherji Biman Mukherji On Great Nicobar, a remote island located closer to Indonesia than mainland India, New Delhi is embarking on one of its biggest developments in decades. The US$9 billion project is intended to transform the country’s southernmost tip into a major transport hub comprising a transhipment port, an international airport and associated logistical facilities. Spread across 166 sq km (64 square miles), the project in India’s Andaman and Nicobar archipelago is slated for completion over three decades,... https://www.scmp.com/week-asia/politics/article/3354565/indias-us9-billion-island-megaport-sharpens-chinas-malacca-dilemma?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3354565/indias-us9-billion-island-megaport-sharpens-chinas-malacca-dilemma?utm_source=rss_feed Fri, 22 May 2026 12:18:17 +0000 Xiaofei Xu Xiaofei Xu The Asian Infrastructure Investment Bank (AIIB) has launched a US$10 billion facility to support members affected by conflict in the Middle East, the multilateral development lender announced on Thursday. The Energy, Food Security and Economic Resilience Facility, sitting alongside the bank’s existing financing tools, offers up to US$10 billion over two years to help members tackle urgent needs around energy security, food security and economic resilience, according to a statement published by... https://www.scmp.com/economy/global-economy/article/3354457/aiib-offers-us10-billion-support-members-hit-iran-war-fallout?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3354457/aiib-offers-us10-billion-support-members-hit-iran-war-fallout?utm_source=rss_feed Fri, 22 May 2026 06:00:12 +0000 SCMP Editorial SCMP Editorial President Xi Jinping has pivoted from hosting a summit with US President Donald Trump to another, just days later, with Russian President Vladimir Putin. It was a landmark moment in head-of-state diplomacy, a guiding strategic principle of foreign relations under Xi’s leadership. His summit with Putin was seen by some in the West as sequential to his meetings with Trump. That is far from the reality. China does not see a stabilised relationship with Russia – among the three major powers – only... https://www.scmp.com/opinion/comment/article/3354384/xi-putin-summit-no-less-important-xi-trump-talks?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3354384/xi-putin-summit-no-less-important-xi-trump-talks?utm_source=rss_feed Thu, 21 May 2026 23:15:12 +0000 Andy Xie Andy Xie The Iran war has baked in stagflation and starvation through big reductions in the supply of oil and fertilisers. This inflationary pressure will only increase. As inflation sucks liquidity out of financial markets and into the real economy, bond yields are being pushed up across the world. If bond yields rise by more than a percentage point, a likely scenario before the year’s end, the liquidity diversion could be big enough to pop the AI bubble. The US-Israeli war on Iran has disrupted the... https://www.scmp.com/opinion/world-opinion/article/3353772/not-even-quick-end-iran-war-can-save-ai-stock-bubble-now?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3353772/not-even-quick-end-iran-war-can-save-ai-stock-bubble-now?utm_source=rss_feed Thu, 21 May 2026 21:30:05 +0000 Agence France-Presse Agence France-Presse US Secretary of State Marco Rubio on Thursday voiced hope of progress on ending the war with Iran, with mediator Pakistan’s army chief poised for talks in Tehran. The role played by Field Marshal Asim Munir, a powerful figure with a growing role in Pakistan’s foreign relations, has taken on increased significance as US President Donald Trump warned that negotiations to end the war were on the “borderline” between a deal and renewed strikes. “I believe the Pakistanis will be travelling to Tehran... https://www.scmp.com/news/world/article/3354435/us-voices-hope-iran-deal-progress-pakistan-army-chief-visit?utm_source=rss_feed https://www.scmp.com/news/world/article/3354435/us-voices-hope-iran-deal-progress-pakistan-army-chief-visit?utm_source=rss_feed Thu, 21 May 2026 21:24:32 +0000 Laura Zhou,Vanessa Cai Laura Zhou,Vanessa Cai Russian President Vladimir Putin’s visit this week offered China another opportunity to showcase its diplomatic weight after hosting US President Donald Trump. But behind the display of solidarity and trust, the packed trip appeared to yield few concrete gains for Moscow – notably no deals on the closely watched Power of Siberia 2 pipeline project. Still, Chinese observers said the trip reflected the shared push by Beijing and Moscow for a multipolar world order, even as economic and strategic... https://www.scmp.com/news/china/diplomacy/article/3354422/china-and-russia-unite-world-order-putin-departs-without-concrete-gains?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3354422/china-and-russia-unite-world-order-putin-departs-without-concrete-gains?utm_source=rss_feed Thu, 21 May 2026 15:00:06 +0000 Carol Yang Carol Yang Three fully laden supertankers – including two Chinese vessels – crossed the Strait of Hormuz on Wednesday, in a possible sign that Tehran may be starting to open up the vital waterway to more shipping traffic. The exit of the three very large crude carriers (VLCCs) came on the same day that Iran confirmed it had allowed 26 vessels to transit the strait – a hefty uptick compared with the level of traffic Iranian forces have generally permitted since the war began. The moves appeared to signal an... https://www.scmp.com/economy/china-economy/article/3354378/2-chinese-supertankers-join-flotilla-exiting-hormuz-stand-appears-thaw?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3354378/2-chinese-supertankers-join-flotilla-exiting-hormuz-stand-appears-thaw?utm_source=rss_feed Thu, 21 May 2026 14:00:06 +0000 Associated Press Associated Press Fewer Americans filed for jobless aid last week as lay-offs remain low despite a number of uncertainties that continue to cloud the economy. US applications for unemployment benefits for the week ending May 16 fell by 3,000 to 209,000, the Labour Department reported Thursday. That is fewer than the 213,000 new applications analysts surveyed by the data firm FactSet had forecast. Weekly filings for unemployment benefits are considered a proxy for US lay-offs and are close to a real-time indicator... https://www.scmp.com/news/world/united-states-canada/article/3354408/us-jobless-claims-fall-lay-offs-remain-low-despite-economic-uncertainty?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3354408/us-jobless-claims-fall-lay-offs-remain-low-despite-economic-uncertainty?utm_source=rss_feed Thu, 21 May 2026 13:03:53 +0000 Iris Deng Iris Deng In a significant leap for green-energy tracking, researchers from Peking University and Alibaba Group’s Damo Academy have used AI to map hundreds of thousands of solar and wind installations across China. The initiative resulted in a first-of-its-kind national inventory designed to help coordinate the country’s ambitious green transition. By leveraging a self-developed AI model from Damo, the research team processed a massive 7.56 terabytes of satellite imagery. The algorithm identified 319,972... https://www.scmp.com/business/climate-and-energy/article/3354387/ai-gives-china-gods-eye-view-solar-wind-installations-data-centre-demand-booms?utm_source=rss_feed https://www.scmp.com/business/climate-and-energy/article/3354387/ai-gives-china-gods-eye-view-solar-wind-installations-data-centre-demand-booms?utm_source=rss_feed Thu, 21 May 2026 13:00:07 +0000 Haining Gao Haining Gao China and Russia released a joint statement on Thursday in the wake of Chinese President Xi Jinping’s summit with Russian President Vladimir Putin a day earlier, during which the two leaders signed an agreement to boost strategic ties and a separate declaration to push for a multipolar global order and witnessed the sealing of more than 20 agreements on cooperation in areas including energy, trade and science and technology. China-Russia Joint Statement by scmp https://www.scmp.com/plus/news/china/diplomacy/article/3354349/china-russia-joint-statement-xi-putin-summit?utm_source=rss_feed https://www.scmp.com/plus/news/china/diplomacy/article/3354349/china-russia-joint-statement-xi-putin-summit?utm_source=rss_feed Thu, 21 May 2026 07:43:49 +0000 Lucy Quaggin Lucy Quaggin US President Donald Trump said his administration’s negotiations with Iran were “in the final stages” on Wednesday, while simultaneously warning of further attacks, as a fragile ceasefire concluded its sixth week with no sign of an end to the war. The US launched “Operation Epic Fury” close to three months ago, in a war that began with strikes inside Iran alongside key ally Israel, which has since spread across the wider Middle East region, killing thousands and disrupting global supply... https://www.scmp.com/news/us/article/3354291/trump-says-iran-talks-are-nearing-end-warns-more-strikes?utm_source=rss_feed https://www.scmp.com/news/us/article/3354291/trump-says-iran-talks-are-nearing-end-warns-more-strikes?utm_source=rss_feed Wed, 20 May 2026 21:57:00 +0000 Bloomberg Bloomberg The UK moved to loosen its Russian sanctions in a controversial move aimed at preventing shortages of diesel and jet fuel, as the war in Iran eats into global oil buffers. The move highlights how Britain has become more reliant on fuel imports than other major European nations, and has prompted political backlash over the government’s commitment to support Ukraine. The European Union is not currently planning a similar measure, according to people with knowledge of the matter, who asked not to... https://www.scmp.com/news/world/europe/article/3354264/fuel-thirsty-uk-relaxes-russian-sanctions-leaving-ukrainians-feeling-very-let-down?utm_source=rss_feed https://www.scmp.com/news/world/europe/article/3354264/fuel-thirsty-uk-relaxes-russian-sanctions-leaving-ukrainians-feeling-very-let-down?utm_source=rss_feed Wed, 20 May 2026 11:20:10 +0000 Reuters Reuters The ⁠European Union has shortlisted ⁠tungsten, rare earths and ⁠gallium for its first joint stockpile of critical minerals aimed at reducing its reliance on China, according to three sources familiar with the matter. The EU is also talking to major ports ‌including Rotterdam in the Netherlands, the region’s biggest, to store the minerals, one of the three and a fourth source said. The move marks one of the bloc’s most concrete steps to insulate its economy from Beijing’s production dominance in... https://www.scmp.com/news/world/europe/article/3354245/eu-picks-tungsten-rare-earths-gallium-first-critical-mineral-stockpile?utm_source=rss_feed https://www.scmp.com/news/world/europe/article/3354245/eu-picks-tungsten-rare-earths-gallium-first-critical-mineral-stockpile?utm_source=rss_feed Wed, 20 May 2026 09:29:26 +0000 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma Chinese President Xi Jinping and Russia’s Vladimir Putin made little progress on long-delayed plans to to build a new gas pipeline between the two countries at a presidential summit in Beijing. There was still no “clear timeline” and “there are still some details to be worked out”, Kremlin spokesman Dmitry Peskov told Russian media. The two countries had reached a “basic understanding”, including on “the route and how it will be built”, he said. Putin arrived in Beijing for his 25th visit amid... https://www.scmp.com/plus/economy/china-economy/article/3354239/xi-putin-summit-leaves-gas-pipeline-plan-limbo?utm_source=rss_feed https://www.scmp.com/plus/economy/china-economy/article/3354239/xi-putin-summit-leaves-gas-pipeline-plan-limbo?utm_source=rss_feed Wed, 20 May 2026 09:18:39 +0000 Xinyi Wu Xinyi Wu While China’s oil and gas imports from Gulf nations plunged in April amid the Strait of Hormuz crisis during the US-Israeli war on Iran, shipments from Russia have provided Beijing with a partial buffer for its growing economy. Russia’s crude shipments to China rose 11.3 per cent year on year to nearly 9 million tonnes in April, according to Chinese customs data released on Wednesday. But market conditions have also shifted. Much of the discount on Russian oil and gas – long a source of cheap... https://www.scmp.com/economy/china-economy/article/3354219/china-turns-russian-oil-gulf-supply-drops-it-too-expensive?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3354219/china-turns-russian-oil-gulf-supply-drops-it-too-expensive?utm_source=rss_feed Wed, 20 May 2026 07:51:57 +0000 Biman Mukherji Biman Mukherji Asia’s clean energy push is facing heightened supply-chain risk as the Middle East conflict disrupts aluminium and nickel production and could raise costs for solar panels, wind turbines and grid upgrades. Countries such as Indonesia, Vietnam and the Philippines have installed more rooftop solar panels and other green infrastructure in recent years, driven by high power bills caused by elevated oil and gas prices. However, these green projects are facing uncertainties as the blockade of the... https://www.scmp.com/week-asia/economics/article/3354128/aluminium-supply-crunch-threatens-asias-clean-energy-push-amid-iran-war?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3354128/aluminium-supply-crunch-threatens-asias-clean-energy-push-amid-iran-war?utm_source=rss_feed Wed, 20 May 2026 00:00:13 +0000 SCMP Editorial SCMP Editorial After the pomp and ceremony of US President Donald Trump’s visit to Beijing last week – his first in nearly 10 years – Russian President Vladimir Putin’s summit with President Xi Jinping on Wednesday may seem underwhelming. But it is not because Beijing attaches less importance to the relationship. It reflects mutual trust between the two, and the fact that Putin has been an annual visitor for the past 10 years except for two Covid-19 pandemic years. As a result, he has forged a strong rapport... https://www.scmp.com/opinion/comment/article/3354077/energy-will-be-high-xi-putin-summit-agenda?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3354077/energy-will-be-high-xi-putin-summit-agenda?utm_source=rss_feed Tue, 19 May 2026 23:15:07 +0000 Ji Siqi Ji Siqi Last week, US President Donald Trump landed in China aiming to secure the kind of blockbuster trade deals he championed nine years ago – spanning everything from soybeans to aircraft and energy. By the time he departed, it was clear that reality would fall far short of expectations. Despite Trump hailing a “fantastic deal”, China did not announce the massive buying spree that many had anticipated. Now, just days after Trump’s exit, Russian President Vladimir Putin is arriving in China with... https://www.scmp.com/economy/china-economy/article/3354114/putin-pushing-blockbuster-oil-and-gas-deal-china-will-he-get-it?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3354114/putin-pushing-blockbuster-oil-and-gas-deal-china-will-he-get-it?utm_source=rss_feed Tue, 19 May 2026 22:00:06 +0000 Syed Munir Khasru Syed Munir Khasru US President Donald Trump’s visit to Beijing, at a time of rising tensions over Iran, sanctions, tariffs and Taiwan, shows how far the Hormuz crisis has travelled beyond the battlefield. What began as a regional war is now touching energy markets, currency politics and the balance of influence between Washington and Beijing. The US is trying to keep Gulf and Asian partners anchored to the US dollar system, while China continues to push for wider use of the renminbi in trade transactions. Whether... https://www.scmp.com/opinion/china-opinion/article/3353360/malacca-strait-could-be-next-hinge-point-if-asia-isnt-careful?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3353360/malacca-strait-could-be-next-hinge-point-if-asia-isnt-careful?utm_source=rss_feed Tue, 19 May 2026 21:30:05 +0000 Reuters Reuters The Donald Trump administration on Tuesday imposed sanctions on an Iranian foreign currency exchange house and what it said were front companies overseeing transactions on behalf of Iranian banks as the US maintains pressure on Tehran. The move came after Iran ‌said its latest peace proposal to the United States over the US-Israeli led war that started February 28 involved ending hostilities on all fronts including Lebanon, the exit of US forces from areas close to Iran, and reparations for... https://www.scmp.com/news/world/united-states-canada/article/3354144/us-imposes-fresh-sanctions-iranian-exchange-house-19-ships-shadow-fleet?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3354144/us-imposes-fresh-sanctions-iranian-exchange-house-19-ships-shadow-fleet?utm_source=rss_feed Tue, 19 May 2026 15:37:44 +0000 Sylvia Ma Sylvia Ma With new data suggesting a global retreat from US Treasuries in March – the first full month of the US-Israel war on Iran – market worries are on the rise over whether the sell-off could deepen, as interest rate decisions under new Federal Reserve chair Kevin Warsh, US debt sustainability and prolonged Middle East tensions raise investor concerns. Analysts are currently weighing mounting inflation pressures – which have driven Treasury yields sharply and placed the 30-year yield at its highest... https://www.scmp.com/economy/china-economy/article/3354069/world-retreats-us-treasuries-will-sell-deepen?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3354069/world-retreats-us-treasuries-will-sell-deepen?utm_source=rss_feed Tue, 19 May 2026 14:00:05 +0000 Xinyi Wu Xinyi Wu A prominent American business group in China has called for expanded energy trade between the world’s two largest economies – a move first floated by US President Donald Trump during his state visit to Beijing last week. Analysts, however, warn that uncompetitive pricing could limit Chinese demand. “Energy remains a centrepiece of the bilateral relationship,” said Markel Hubinette, who sits on the American Chamber of Commerce in China’s board of governors. Speaking at the Global Trade and... https://www.scmp.com/economy/global-economy/article/3354102/calls-grow-us-china-energy-trade-expansion-after-trumps-visit-it-feasible?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3354102/calls-grow-us-china-energy-trade-expansion-after-trumps-visit-it-feasible?utm_source=rss_feed Tue, 19 May 2026 10:00:13 +0000 Maria Siow Maria Siow Indonesia has proposed hosting an Asean oil storage hub to reinforce the region’s emergency fuel reserves, as supply disruptions from the Middle East lay bare the region’s vulnerability to energy shocks. But analysts say the plan, while attractive in principle, is likely to be hampered by political distrust, uneven national priorities and the Association of Southeast Asian Nations’ record of rolling out regional mechanisms that are rarely tested under pressure. Indonesian Energy Minister Bahlil... https://www.scmp.com/week-asia/politics/article/3354057/indonesias-oil-hub-plan-collides-aseans-trust-deficit?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3354057/indonesias-oil-hub-plan-collides-aseans-trust-deficit?utm_source=rss_feed Tue, 19 May 2026 05:21:51 +0000 Bloomberg Bloomberg Asian airlines need government support to cope with the more than doubling of jet fuel prices that otherwise risks some carriers collapsing like US-based Spirit Airlines, according to the new head of the region’s industry body. Wong Hong, who took over as director general of the Association of Asia Pacific Airlines last month, said carriers needed varying levels of help and relief, from direct financial support to being able to cut flight schedules without negative consequences. “Nobody wants to... https://www.scmp.com/news/asia/southeast-asia/article/3354056/some-asian-airlines-could-collapse-spirit-without-help-rising-fuel-costs?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3354056/some-asian-airlines-could-collapse-spirit-without-help-rising-fuel-costs?utm_source=rss_feed Tue, 19 May 2026 05:19:14 +0000