Australia’s Energy Minister Chris Bowen says rural and regional areas are facing “real and unacceptable shortages” of fuel, a ripple effect of the US-Israel war with Iran that has caused global oil prices to surge. Bowen’s comments came a day after the government announced it would release fuel from its emergency stockpile to meet demand in rural areas. He said the additional supply would not reac...
Australia’s Energy Minister Chris Bowen says rural and regional areas are facing “real and unacceptable shortages” of fuel, a ripple effect of the US-Israel war with Iran that has caused global oil prices to surge. Bowen’s comments came a day after the government announced it would release fuel from its emergency stockpile to meet demand in rural areas. He said the additional supply would not reach the market immediately. The shortage has been driven by a “massive explosion in demand” not because of any supply disruptions, Bowen said, adding Australia had received all of its shipments of petrol and diesel as expected. Demand is “up 100% at every terminal across Australia,” the minister said at a press conference on Saturday. “This has seen shortages for farmers, for people in regional areas in particular, which the government has been working very hard with the industry to get addressed as quickly as possible.” Bowen was presenting the government’s first weekly report on fuel reserves after shifting from quarterly reporting. Australia holds 1.6 billion liters of petrol, the equivalent of 37 days of supply, up from 36 days in the last report. Diesel reserves stand at 2.7 billion liters, the equivalent of 30 days. Farmers have warned the conflict-driven energy crisis could lead to smaller plantings and reduced food production , while trucking groups say higher fuel costs could soon flow through to consumers. Airlines have also begun raising fares to account for rising costs. Jet fuel prices had risen by as much as 150% over a two-week period, Qantas Airways Ltd said. Bowen said Australia was not facing an immediate jet fuel shortage, but that the government was in close communication with Virgin Australia and Qantas, the country’s two largest airlines. Australia has the equivalent of 29 days, or about 800 million liters, of jet fuel supplies, he said. “They have fuel on hand for the immediate and foreseeable future,” Bowen said. “But, obviously, any impacts from globa...
What’s the point of economics? All that modeling and predicting. All that arguing about the role of the state, free markets, inflation and interest rate policy. Sometimes it’s all too easy to get lost in the debate and forget the point. It’s all about finding the best way to allocate resources to incentivize economic growth: to create the best of all possible worlds for the maximum number of peopl...
What’s the point of economics? All that modeling and predicting. All that arguing about the role of the state, free markets, inflation and interest rate policy. Sometimes it’s all too easy to get lost in the debate and forget the point. It’s all about finding the best way to allocate resources to incentivize economic growth: to create the best of all possible worlds for the maximum number of people. That’s it. Obviously it isn’t easy. But this week, in a lecture at Panmure House in Edinburgh to celebrate the 250th anniversary of Adam Smith’s Wealth of Nations , economist and author Dambisa Moyo suggested that artificial intelligence might play an outsize role in making things very much better. Most economic models rest on assumptions and deeply imperfect information. But in an AI world of endless information and relentless ability to analyze that information, perhaps prediction becomes more straightforward. As “information friction” disappears, turning points—say recessions or inflationary impulses— become easier to predict. That should play its part in allowing productivity to soar, and wealth follow. Happy days ahead. Or not. The problem of course is where the returns from all the correct forecasting and productivity might go. Economists would usually tell us that rising productivity means rising real wages. That may still be true for the few with jobs. But in an age of the AI worker, one in which—as Moyo put it— humans have for the first time in history lost their monopoly on intelligence, the majority of returns are likely to head back to capital (effectively as big profits to the winning companies). Think “ labor-less growth .” Then think about what that means. It means, I am afraid, a massive expansion of the role of the state, which will have to tax the returns to capital and redistribute them to labor as some kind of turbocharged social welfare payment. Governments might have to worry less about the ideal distribution of resources to create growth, but they ...
Trump Crosses Iran's 'Red Line' By Heavy Bombing Of Kharg Island, Endangering Energy Assets Across Region In what could prove to be a major step up the escalation ladder in the two-week-old US-Israeli war on Iran, President Trump on Friday evening (notably after US market closure) announced that US Central Command had carried out a major bombing raid on Kharg Island , which handles upwards of 90% ...
Trump Crosses Iran's 'Red Line' By Heavy Bombing Of Kharg Island, Endangering Energy Assets Across Region In what could prove to be a major step up the escalation ladder in the two-week-old US-Israeli war on Iran, President Trump on Friday evening (notably after US market closure) announced that US Central Command had carried out a major bombing raid on Kharg Island , which handles upwards of 90% of Iran's crude oil exports. Importantly, Iran has previously warned that an attack on the island would cross a red line , and precipitate Iranian attacks on energy infrastructure up and down the Persian Gulf. Video from the US raid on Kharg Island shows an explosion at an airport -- Iranian media said a control tower was among the targets Perhaps with that previous Iran warning in mind -- and to allay the fears of US allies in the region who don't want to see their energy facilities go up in smoke -- Trump emphasized that the attack was focused on military assets : "Moments ago, at my direction, the United States Central Command executed one of the most powerful bombing raids in the History of the Middle East, and totally obliterated every MILITARY target in Iran’s crown jewel, Kharg Island. Our Weapons are the most powerful and sophisticated that the World has ever known but, for reasons of decency, I have chosen NOT to wipe out the Oil Infrastructure on the Island. However, should Iran, or anyone else, do anything to interfere with the Free and Safe Passage of Ships through the Strait of Hormuz, I will immediately reconsider this decision." Iran's FARS news agency confirmed the attack, saying at least 15 explosions were heard as it unfolded. FARS reports that targets included air defense assets, a naval base, an airport control tower and a helicopter hangar associated with Iranian Offshore Oil Company. The Trump administration released video highlights from the bombing raid: Footage has now been published by President Donald J. Trump showing today’s strikes against Irani...
"This has been an extremely complex investigation, and we thank the victim and her family for their courage in reporting what they had been through and we hope this reassures the wider community that we do take these offences seriously and will use our powers to bring people to justice.
"This has been an extremely complex investigation, and we thank the victim and her family for their courage in reporting what they had been through and we hope this reassures the wider community that we do take these offences seriously and will use our powers to bring people to justice.
智創未來｜創科新世代 To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video 【有線新聞】數碼港與教育局，在去年6月宣布再度合辦「學生創新科技訓練及栽培計劃」。經過首階段甄選後，30位中三至中五的中學生在同年7月至8月期間，以兩人一組...
智創未來｜創科新世代 To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video 【有線新聞】數碼港與教育局，在去年6月宣布再度合辦「學生創新科技訓練及栽培計劃」。經過首階段甄選後，30位中三至中五的中學生在同年7月至8月期間，以兩人一組的形式，參與「創科實習計劃」，並由15間數碼港初創企業的代表擔任導師。在專業導師的指導下，學生親身體驗企業的日常運作，從中獲得寶貴的實戰經驗及專業知識。
Hong Kong should move beyond a “city-centred” approach that merely seeks Beijing’s policy support and instead take steps to align with national priorities by advancing the internationalisation of the yuan and supporting mainland Chinese enterprises’ global expansion, observers have said as this year’s “ two sessions ” came to a close. With the annual political gathering ending amid the widening wa...
Hong Kong should move beyond a “city-centred” approach that merely seeks Beijing’s policy support and instead take steps to align with national priorities by advancing the internationalisation of the yuan and supporting mainland Chinese enterprises’ global expansion, observers have said as this year’s “ two sessions ” came to a close. With the annual political gathering ending amid the widening war in the Middle East , observers also said Beijing would expect local companies to pursue investments that delivered “win-win” outcomes for national, Hong Kong and business interests. Here are some of the key suggestions for Hong Kong that analysts and members of the National People’s Congress (NPC) and the Chinese People’s Political Consultative Conference (CPPCC) made following the end of the meetings in Beijing. SCMP PLUS WEBINAR | Key Takeaways from China’s Two Sessions 2026 SCMP PLUS WEBINAR | Key Takeaways from China’s Two Sessions 2026 Align with national geopolitical strategy The country’s 15th five-year plan approved during the meetings asked Hong Kong to bolster its role as an international financial centre and develop into a global innovation and technology hub. Advertisement Chinese Premier Li Qiang’s government work report, for the first time, highlighted Beijing’s support for Hong Kong in better serving national development. Veteran political commentator Sonny Lo Shiu-hing said the city could no longer adopt a “Hong Kong-centred” mindset of asking for the central government’s support. Instead, the city should align with the country’s geopolitical strategies amid escalating tensions, he said. Advertisement “Beijing has empowered Hong Kong and Macau to have some paradiplomatic function,” Lo said. “Hong Kong is expected to be a superconnector connecting with other countries because of its strong common law background, and roles as a strong financial and monetary centre and aviation hub.”
Taiwanese Premier Cho Jung-tai has come under fire over what he said was a private visit to Japan to support the island ’s team at the World Baseball Classic last week – a trip that drew a sharp rebuke from Beijing. Cho travelled to Tokyo on March 7, watching Taiwan defeat the Czech Republic 14-0 at the Tokyo Dome in the tournament’s Pool C round. He returned to Taipei the same day. It was the fir...
Taiwanese Premier Cho Jung-tai has come under fire over what he said was a private visit to Japan to support the island ’s team at the World Baseball Classic last week – a trip that drew a sharp rebuke from Beijing. Cho travelled to Tokyo on March 7, watching Taiwan defeat the Czech Republic 14-0 at the Tokyo Dome in the tournament’s Pool C round. He returned to Taipei the same day. It was the first visit to Japan by a sitting Taiwanese premier since Tokyo ended official ties with Taipei in 1972 and switched diplomatic recognition to Beijing Advertisement Taiwan’s cabinet said in a statement that the visit was a “private itinerary paid for personally” by Cho. It said Cho had taken a charter flight to Tokyo solely to support the team and had no other engagements while he was in Japan. Advertisement Cho repeated that explanation at an event in Taipei the following day, saying the trip was paid for out of his own pocket and it “had no other purpose”.
Myanmar ’s new parliament will convene next week, following an election tightly stage-managed by the junta. The Union Solidarity and Development Party (USDP) will enjoy a commanding majority and the party of former generals can be expected to preserve the interests of the military and its associates. It’s unclear just how closely these broader interests align with the political ambitions of junta ...
Myanmar ’s new parliament will convene next week, following an election tightly stage-managed by the junta. The Union Solidarity and Development Party (USDP) will enjoy a commanding majority and the party of former generals can be expected to preserve the interests of the military and its associates. It’s unclear just how closely these broader interests align with the political ambitions of junta chief Senior General Min Aung Hlaing . He does not formally lead the USDP, whose majority means it can choose the president without the help of the 25 per cent bloc of unelected military MPs. In reality, the presidency and other major appointments are subject to delicate negotiations between USDP leaders and the junta chief. While Min Aung Hlaing allegedly covets the presidency, the constitution states that different people must occupy the positions of commander-in-chief and the two parliamentary speakers. Advertisement Analysts will pore over any flicker of tension between these individuals – not for signs of budding democracy, but of instability within the ruling clique. Vote counting takes place in Yangon on January 25 during the general election in Myanmar. Photo: Kyodo Another vulnerability lies beyond the corridors of Naypyidaw, however. The USDP’s sweeping victory in the recent election – surpassing 80 per cent of elected seats in the national legislature – has distracted attention from its actual vote share. Official figures put this at about 44 per cent of all ballots cast, before the distortions of the “winner-takes-all” electoral system.
Two prominent Chinese business leaders have pledged to double down on outbound investment – including in the Middle East and Latin America – even as geopolitical risks intensify following the outbreak of the US-Israeli war with Iran and Washington’s increasing interventions in the western hemisphere. Li Dongsheng, founder and chairman of Chinese electronics giant TCL , said the recent crisis in th...
Two prominent Chinese business leaders have pledged to double down on outbound investment – including in the Middle East and Latin America – even as geopolitical risks intensify following the outbreak of the US-Israeli war with Iran and Washington’s increasing interventions in the western hemisphere. Li Dongsheng, founder and chairman of Chinese electronics giant TCL , said the recent crisis in the Middle East had only a temporary impact on the company’s operations there and that the overall effect on business had been limited. “I believe that as a globalised enterprise, we cannot afford to give up any major market,” said Li, also a deputy to China’s top legislature, the National People’s Congress (NPC), in an interview on Thursday. Advertisement “It’s perfectly normal for any country or region to experience some political fluctuations or economic crises. From a corporate perspective, there’s no need to let such an isolated incident affect our long-term strategic planning,” Li said on the sidelines of the NPC’s closing ceremony. As one of the first Chinese companies to manufacture globally, TCL has established factories spanning from Southeast Asia to Latin America over the past 20 years. Advertisement While TCL would continue to strengthen its global footprint, its strategy must evolve in response to rapidly changing global investment and trade rules, Li said. “Only by firmly committing to globalisation can you win the future,” he added.
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"I naturally fell into presenting when I was young because I got to be myself on camera and I'm interested in humans," she says but "now it just feels like the doors opened up again [to get into acting]".
"I naturally fell into presenting when I was young because I got to be myself on camera and I'm interested in humans," she says but "now it just feels like the doors opened up again [to get into acting]".