Day: August 4, 2025

Singapore tycoon pleads guilty in corruption scandal involving ex-minister

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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Billionaire Singapore property tycoon Ong Beng Seng has pleaded guilty to his part in the city-state’s biggest corruption scandal in decades, which led to the jailing of a former minister last year. Ong, 79, admitted on Monday to offering gifts including a private jet flight to S Iswaran, Singapore’s former transport minister. The scandal rocked Singapore, a country that has prided itself on its reputation for clean governance and corruption-free…

China pledges support for peaceful development in Horn of Africa

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China has reaffirmed its support for peaceful development in the Horn of Africa, saying it would “actively engage” in regional initiatives to promote the concept. Advertisement Beijing’s special envoy Xue Bing made the pledge at a conference on the topic in the Ugandan capital Kampala on Tuesday, a Chinese-led event that involved representatives from eight countries in East Africa. Xue said Beijing would offer military assistance and training, as well as helping to develop the region’s infrastructure and boosting trade. “The world today faces overlapping risks and challenges that threaten…

Germany’s biggest sports retailer considers moving production into China

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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. One of the world’s largest sporting goods retailers is considering shifting production into China, just as brands including Nike and Adidas move production out of the country in response to US tariffs. Intersport International’s new chief executive Tom Foley told the Financial Times that the group is considering sourcing a greater proportion of its private label goods — which accounted for about €1.4bn of revenues last year — from China.…

UK academics studying topics sensitive to China face harassment, survey finds

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Academics and students of Chinese studies in Britain are being subject to harassment, surveillance and pressure to self-censor as they seek to avoid disruption to funding, a survey of universities by a transparency group has concluded. The findings by UK-China Transparency coincide with new government guidance stating that universities may be breaching rules by having partnerships with foreign governments that require academic staff to pass ideological tests – for example, by hosting Confucius Institutes. Academics working on topics that are politically sensitive to the Chinese Communist party (CCP) reported instances…

Chinese manufacturers rethink south-east Asia pivot after Trump tariffs

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Chinese exporters are reconsidering investment in offshore factories as US tariffs on alternative hubs and new restrictions on “transshipment” force a sweeping rethink of supply chains in Asia. Manufacturers have poured billions of dollars into south-east Asia in recent years as part of a “China plus one” strategy to minimise their exposure to US tariffs in the wake of Trump’s first trade war with Beijing. But the US has slashed additional duties on Chinese goods to 30 per cent amid trade talks with Beijing, and imposed tariffs ranging from 10 to…