Author: OMN AI

The Hong Kong Peru Free Trade Agreement will officially enter into force on September 1, marking a significant step in strengthening economic ties between Hong Kong and the South American nation. The agreement comes after both sides completed the necessary internal procedures required for implementation. Officials say the deal is expected to create new opportunities for businesses, investors, and service providers while encouraging greater trade and investment flows between the two economies. The agreement covers a wide range of areas, including trade in goods, trade in services, investment, electronic commerce, and other economic cooperation measures. Hong Kong authorities described Peru…

The Taiwan AI Server Exports investigation has entered a significant new phase after prosecutors indicted nine people over their alleged involvement in the illegal shipment of advanced artificial intelligence servers to China. Authorities in Taiwan announced the charges following a months-long investigation into exports of high-performance AI servers equipped with advanced technology that is subject to strict international export controls. The case has drawn attention because it involves products linked to one of the fastest-growing sectors in the global technology industry. According to prosecutors, the individuals charged include employees connected to major technology companies as well as people involved in…

The China Iran Oil Trade relationship is facing increased uncertainty after the United States expanded its sanctions campaign against Tehran and warned countries to reduce economic ties with the Islamic republic. China has remained the largest buyer of Iranian oil for several years, making its relationship with Tehran a key focus of Washington’s latest efforts to isolate Iran economically. While the United States has called on countries to end business ties with Iran, analysts believe Beijing’s position presents a unique challenge because of its economic influence and importance in global trade. US Treasury Secretary Scott Bessent recently warned that countries…

China has delayed the launch of its Chang E Seven lunar mission after officials said the mission did not meet the conditions needed for launch. The mission had been due to launch from the Wenchang Spacecraft Launch Site in Hainan. It was designed to travel to the Moon’s south pole and study an area that may hold water ice. The delay was announced after a review of the mission and its launch conditions. Chinese space officials did not give a new launch date. Reports said bad weather linked to Tropical Depression Narra was a major factor around the planned launch…

Hong Kong shares of Alibaba fell sharply on Monday after the Chinese tech group priced a major share sale to fund its push into artificial intelligence. Alibaba said the deal will raise HK$80 billion, or about US$10.2 billion. The company priced 710 million new shares at HK$112.70 each. That price was 8.4 percent below Alibaba’s Friday closing price. The new shares will be used to support AI work and related data and computing systems. Alibaba is seeking to expand its AI products as demand for cloud and AI services grows. Alibaba shares fell as much as 10 percent in early…

Taiwan President Lai Ching Te has called for peace through strength as tensions with China remain high. He made the remarks on August 23 during a visit to Kinmen. Kinmen is a small group of islands close to the Chinese coast. It was once a key front line in the conflict between Taiwan and China. Lai visited the islands to mark the 68th anniversary of the 1958 Taiwan Strait crisis. The event remembers the battles between Chinese and Taiwanese forces during that period. Lai paid tribute to the veterans who fought in the conflict. He said Taiwan must remember its…

Alibaba plans to raise about $10.2 billion through a new share sale in Hong Kong. The move shows how fast the Chinese tech giant is growing its focus on artificial intelligence. The company said on August 23 that it plans to sell 710 million ordinary shares. The shares will be priced at HK$112.70 each. This is about 3.6% below the latest market price. The deal could become the largest new share sale by a Hong Kong listed firm. It would also rank among the biggest such deals in the world this year. Alibaba plans to use all the money for…

Two prominent Hong Kong activists have been found guilty in a major national security case linked to the city’s former Tiananmen Square vigil. Lee Cheuk-yan, 69, and Chow Hang-tung, 41, were convicted of inciting subversion on Friday, August 21. Both were former leaders of the Hong Kong Alliance in Support of Patriotic Democratic Movements of China. The group organised annual candlelight vigils in Hong Kong to remember the victims of the 1989 Tiananmen crackdown in Beijing. The events were held for decades and became a major part of Hong Kong’s public life. The annual vigil was stopped in 2020. The…

Hong Kong is closely watching Tropical Storm Narra as the storm moves near the coast of southern China. The Hong Kong Observatory said on Saturday, August 22, that Narra was near the Gulf of Tonkin. The storm is expected to stay in the area for the rest of Saturday. It may then turn east or northeast early next week. The storm is not yet close enough for Hong Kong to face its full effects. But its path is being watched because a change in direction could bring stronger winds and rain to the city. The weather office said it would…

China has launched its largest automobile recall on record, ordering nine major automakers to address safety concerns related to retractable door handles used in millions of vehicles. The action affects approximately 4.3 million vehicles and comes after growing concerns that drivers, passengers, and emergency responders may face difficulties opening vehicle doors during emergencies. Regulators said the measures are intended to improve safety and ensure occupants can exit vehicles more easily following accidents. The recall includes several leading manufacturers operating in China. Tesla accounts for the largest share of affected vehicles, with nearly three million cars included in the program. Other…