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BUSINESSOct 6Two Singaporeans fined S$3.35mil each for diesel duty, GST evasionSINGAPORE: (Bernama) Singapore's State Court on Tuesday (Oct 6) fined two men S$3.35 million (S$1=RM3.20) each for importing more than 4.5 million litres of diesel from Malaysia without the required declarations, thereby evading duty and Goods and Services Tax (GST).thestar_my · malaysia
BUSINESSOct 6China's Moonshot AI targets Q1 2027 IPO at $50B valuation - reportA report indicates that China's Moonshot AI plans for an initial public offering in early 2027, aiming for a $50 billion valuation. This signifies a major development for an AI company in the tech and finance sectors.Seeking Alpha Tech
BUSINESSOct 6Hong Kong remains world’s freest economy as Switzerland overtakes SingaporeHong Kong has retained its status as the world’s freest economy in the latest annual ranking by a top Canadian think tank, although its score has declined in recent years. Switzerland overtook Singapore to claim second place, pushing the city state down to third in the rankings released on Tuesday by the Fraser Institute. The 2026 Economic Freedom of the World report, compiled by the Vancouver-based public policy research organisation using data from 2024, ranked Hong Kong first among 165...South China Morning Post
BUSINESSOct 6Germany joins France in call for China trade defencesGermany and France, the European Union’s two largest economies, jointly called for tougher EU trade defences, as European and Chinese negotiators prepare for crunch talks this week under the shadow of a potential trade war. “The open and rules-based trade system is massively affected by weaponisation of trade, systemic market-distorting practices, and global macroeconomic imbalances,” German Chancellor Friedrich Merz and French President Emmanuel Macron said in an open letter. “We need urgent...South China Morning Post
BUSINESSOct 6Moonshot AI eyes Hong Kong IPO after $50 billion valuation as DeepSeek raises capitalChinese AI start-up Moonshot AI is targeting for a Hong Kong listing in early 2027 after its valuation hit $50 billion (€44.6bn), while rival DeepSeek is raising between ¥80 billion (€10.6bn) and ¥100 billion (€13.3bn) in a round led by Tencent and CATL, fuelling bets on its own market debut.EuroNews [en]
BUSINESSOct 6Short trade truce can’t paper over realities of US-China relationshipThe recent US-China summit yielded a narrow, caution-filled outcome for bilateral trade: a two-month extension of the Kuala Lumpur trade truce, which now expires on January 10 next year. This reprieve eases fears of immediate tariff escalation and shows that head-of-state diplomacy can still curb spiralling confrontation. Yet the short timeline exposes the wide gulf separating the two sides’ priorities. China’s position has been unambiguous: removal of all punitive tariffs and restrictive...South China Morning Post
BUSINESSOct 6China’s Transsion, Africa’s top phone maker, targets US$500 million Hong Kong listingShenzhen Transsion Holdings, the maker of Africa’s bestselling phones, aims to kick off its Hong Kong share offering on Wednesday to raise up to US$500 million ahead of a targeted October 15 listing, according to people familiar with the matter. The company, which already trades in Shanghai and has a market capitalisation of 62 billion yuan (US$9.24 billion), could offer up to 132 million offshore ordinary shares, according to approval documents from the China Securities Regulatory Commission...South China Morning Post
BUSINESSOct 6West Kowloon arts hub deficit widens to HK$998 million as operating costs riseThe authority managing Hong Kong’s arts hub in West Kowloon recorded a wider deficit in the 2025-26 financial year but expects to generate more income next year by putting a residential development project out to tender. The West Kowloon Cultural District Authority’s deficit ballooned to HK$998 million (U$127 million) in the year to March 30, from HK$769 million in the same period a year earlier. The increase was mainly due to higher operating costs as it prepared to open the new WestK...South China Morning Post
BUSINESSOct 6Mox, BOCHK, ZA Bank and Citibank apps land among Asia-Pacific’s 10 best, study saysBanking apps from Mox Bank, Bank of China (Hong Kong) (BOCHK), ZA Bank and Citibank Hong Kong are among the top 10 in Asia-Pacific, according to a Sia Partners study exclusively previewed by the South China Morning Post. Sia, an international consulting firm, assessed 145 banking apps in 20 markets in Europe, Asia and Australia using 100 criteria, including functionality, user experience and feedback, with each receiving a score from 0 to 100. The app from digital lender Mox Bank – backed by...South China Morning Post
BUSINESSOct 6How Singapore’s local cafes compete with Chinese coffee giant LuckinWhen Chinese coffee giant Luckin Coffee moved into the unit next to his neighbourhood cafe in Singapore, Folk Yard owner Chew Yit Shan grew nervous. Luckin launched with an aggressive promotional deal of S$1 (78 US cents) per cup, served in just two minutes. In the first few months following its arrival, Chew saw sales at his independent cafe drop by 15 per cent. But once the initial hype had died down and the promotions ended, Chew said regular patrons returned and coffee sales bounced...South China Morning Post
BUSINESSOct 6Ray Dalio flags China and Japan pulling back from U.S. debt - reportA report indicates that Ray Dalio has noted China and Japan are reducing their holdings of U.S. debt. This development could have implications for global financial markets and U.S. fiscal policy.Seeking Alpha Tech
BUSINESSOct 6World Bank lifts 2026 East Asia growth forecast to 4.5% amid AI boom but warns of capex risksThe World Bank has raised its 2026 growth forecast for East Asia to 4.5%, citing an AI boom. However, the bank also cautioned about capital expenditure risks.Seeking Alpha Tech
BUSINESSOct 6Asian stocks mostly higher as tech rally offsets oil and yield pressureAsian stock markets generally saw gains, driven by a rally in technology stocks which mitigated pressures from oil prices and bond yields. This reflects current trends in global financial markets.Seeking Alpha Tech
BUSINESSOct 6Urban Rail in Southeast Asia Is BoomingDue to rapid economic growth and Chinese knowhow, public transit in the region's cities is entering something of a golden age.The Diplomat
BUSINESSOct 6World Bank warns of AI concentration risks as it lifts East Asia and Pacific growth outlook to 4.5%The World Bank now expects the region to grow 4.5% this year, but flagged that trade growth outside AI-related goods has been "weak or negative."CNBC
BUSINESSOct 6Hong Kong’s big IPO haul–South China Morning Post
BUSINESSOct 6India’s bullet train tangle leaves Japan fumingFlagship high-speed rail project has been beset by delays, cost overruns and tensionsFinancial Times
BUSINESSOct 6Hong Kong quizzes HSBC over Singapore AI hub decisionMonetary authority strives to bolster Chinese territory’s status as international financial capitalFinancial Times
BUSINESSOct 6Hong Kong’s bridge of gold completes China’s yuan ambitionBeijing’s push to accumulate gold serves a larger goal: yuan internationalisation. In this series, Part I traces China’s path to becoming a gold superpower, while this article explores Hong Kong’s key role in safeguarding the nation’s financial security. In 2013, one-third of the world’s traded gold passed through Hong Kong. That year, the city imported 1,158 tonnes of bullion, overtaking India, the traditional top buyer. For all our love of the glittering metal, little of it stayed in our...South China Morning Post
BUSINESSOct 5CNBC's The China Connection newsletter: Starbucks enters Xinjiang in calculated geopolitical riskStarbucks struck one of Asia's most closely watched deals last year. Now it is getting headaches over choices made by a partner that leans toward Beijing.CNBC
BUSINESSOct 5Russian gold floods Hong Kong as Western sanctions redraw bullion tradeThe surge underscores how Russia's gold trade has been rerouted after its invasion of Ukraine in 2022 shut its producers out of major Western markets.CNBC
BUSINESSOct 5How a Hong Kong property investor still made US$30 million – after a 40% price cutAmid concerns over rising interest rates and a weak retail property market, a long-time investor has sold a portfolio of prime street shops in Tsim Sha Tsui – held for more than four decades – and locked in a profit of nearly HK$237 million (US$30.2 million) despite accepting a deal more than 40 per cent below his original asking price. The portfolio of retail shops in Cheung Lee Commercial Building and the podium of Wing Lee Building, both on Kimberley Road, changed hands for HK$256.8 million,...South China Morning Post
BUSINESSOct 5PH landlords trim capex, S&P saysMANILA, Philippines — Philippine landlords have weathered the property market’s twin challenges of excess vacant homes and weaker sales, as disciplined spending and a shift in investment portfolios help strengthen their finances, S&P Global Ratings said. In a report released on Monday, S&P said the oversupply of residential properties had eased in 2025, although inventories […]... Keep on reading: PH landlords trim capex, S&P saysinquirer · philippines
BUSINESSOct 5Malaysia is invested in the industries of the future. Now it needs them to power productivity.Malaysia has become a major destination for investment in semiconductors, data centers, AI, and advanced manufacturing. Its next challenge is to turn that investment into stronger domestic capabilities, higher productivity, and more value captured at home. The post Malaysia is invested in the industries of the future. Now it needs them to power productivity. appeared first on Atlantic Council.Atlantic Council
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