Unlock the White House Watch newsletter for free Your guide to what Trump’s second term means for Washington, business and the world Danish shipping giant Maersk and Swiss-based MSC are to take over the operations of two key ports on the Panama Canal after their Hong Kong-based operator was ejected last month, the Panamanian government said on Monday. Panama’s Supreme Court last month annulled a contract with conglomerate CK Hutchison Holdings as operator of the Balboa and Cristóbal ports on the famous waterway after legal challenges. The case stemmed from…
Day: February 23, 2026
US-Indonesia deal threatens China’s ‘entrenched position’ in nickel market: analysts
China will accelerate investment in alternative nickel supply sources and strengthen its role across the metal’s wider supply chain, analysts said, after the United States finalised a deal with Indonesia on Thursday that will give America unrestricted access to the country’s industrial commodities. While the US Supreme Court’s tariff ruling last week could add some uncertainty to US-Indonesia trade, the agreement has the potential to reshape the global supply chain for nickel – a metal used to make stainless steel and some electric vehicle batteries. “[The US-Indonesia deal] is quite…
Seoul gains from Tokyo’s pain over Lunar New Year as politics reshapes China’s tourism map
For his family’s first overseas trip together, Tang Junjie carefully planned a holiday to Japan during China’s longest Lunar New Year break on record. Flights were booked months in advance by the 22-year-old from Sichuan province, who had already made three solo visits to the neighbouring country that has long been a draw for Chinese tourists. But a sudden deterioration in Sino-Japanese relations changed everything. Advertisement “The original plan was to transit through Seoul on our way to Japan,” Tang said. “But the airline couldn’t refund the tickets at the…
China adds Japanese entities to export control list, turning up heat on Tokyo
China has added 20 Japanese entities to its export control list and 20 more to a watch list scrutinising the trade of select goods, increasing the economic pressure on Tokyo in a move that widens the scope of the countries’ prolonged diplomatic row to include some of Japan’s largest companies. Chinese exporters are banned from shipping dual-use goods – items with military and civilian applications – to the firms and institutions on the export control list, Beijing’s Ministry of Commerce said in a statement announcing the additions on Tuesday. All…
Seoul’s protest over stand-off seen as reluctance to let US Forces Korea confront China
Yonhap News Agency, citing unnamed military sources, on Saturday reported that South Korean Defence Minister Ahn Gyu-back lodged a complaint with General Xavier Brunson, commander of US Forces Korea (USFK), “immediately” after receiving a report of the stand-off last week. The report said USFK had notified South Korea of its plan ahead of the exercise but had not offered details about the drills. Advertisement The incident was reported to have taken place on Wednesday and involved around 10 US F-16 fighters that took off from Osan Air Base about 65km…
A speedy pardon in the Jimmy Lai case is unlikely
After being sentenced to 20 years’ imprisonment for national security offences on February 9, Apple Daily founder Jimmy Lai Chee-ying will decide if he wishes to appeal. He may challenge his convictions and/or sentences and has about two weeks to make up his mind. Given the length of his trial (156 days), the mountain of evidence and the legal issues, it will take time for any appeal to be resolved. Meanwhile, foreign actors have turned their attention to securing Lai’s early release. The lead counsel in his international legal team,…
US tariff strike-down creates new trade dilemmas for India
This article is an on-site version of the India Business Briefing newsletter. To receive it in your inbox regularly, sign up if you’re a premium subscriber, or upgrade your subscription here. Good morning. The artificial intelligence summit is over, but discussions about the AI industry continue in Mumbai this week at the annual technology and leadership forum organised by national IT trade body Nasscom. I will be speaking with Sanjiv Puri, managing director of tobacco-to-hotels conglomerate ITC, at the event on Wednesday. I look forward to meeting some of you there,…
US accuses China of ‘massively’ expanding nuclear arsenal amid fears of new arms race
The US has accused China of dramatically expanding its nuclear arsenal, while doubling down on claims that Beijing had conducted secret nuclear tests. Washington said the lapsing of New Start – the last treaty between top nuclear powers the US and Russia – earlier this month presented the possibility of striking a “better agreement” that included Beijing. Christopher Yeaw, the US assistant secretary of state for arms control and non-proliferation, told the Conference on Disarmament in Geneva that New Start had been seriously flawed and “did not account for the…
China is not dumping US Treasuries
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is a senior fellow at the Council on Foreign Relations and a former US Treasury official China continues to buy US dollars at pace, and it is no doubt amassing additional holdings of foreign securities too. In December, its state banks and central bank bought more than $100bn of foreign exchange in the market. January purchases were only slightly smaller. If you are only looking at the balance sheet…
US AI giant accuses Chinese rivals of mass data theft
US artificial intelligence company Anthropic said on Monday it had uncovered campaigns by three Chinese AI firms to illicitly extract capabilities from its Claude chatbot, in what it described as industrial-scale intellectual property theft. OpenAI leveled similar charges last month. Anthropic said DeepSeek, Moonshot AI and MiniMax used a technique known as “distillation” – using outputs from a more powerful AI system to rapidly boost the performance of a less capable one. “These campaigns are growing in intensity and sophistication,” the company said in a statement. “The window to act…