Australian police probe Isis and Philippine links to Bondi gunmen

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The alleged perpetrators of a terror attack on a Jewish event in Sydney on Sunday night were inspired by Isis and had travelled to the Philippines last month, Australian authorities said. Prime Minister Anthony Albanese told a press conference on Tuesday that there was evidence the attack was “inspired” by Isis, which he said followed an “evil ideology”. “Early indications point to a terrorist attack inspired by Islamic State, allegedly…

China’s build-up of Yellow Sea facilities expected to fuel South Korean suspicions

According to a report published on Monday by the website Beyond Parallel, operated by the Washington-based Centre for Strategic and International Studies, there has been “growing” Chinese activity in and around the Provisional Measures Zone (PMZ) in the Yellow Sea. It said Beijing was building buoys in the area and could not rule out the possibility that they could have military uses. Advertisement Both South Korea and China have overlapping claims relating to their exclusive economic zones in the PMZ. Under a 2001 deal, the two sides agreed to allow…

China’s ultra-hot heat pump breakthrough paves way for melting ore with sunlight

For over a century, the dream of efficiently concentrating low-grade heat into high-temperature industrial energy has been constrained by a stubborn ceiling: 200 degrees Celsius (392 degrees Fahrenheit). Now, a team from China has shattered that temperature limit. Using a revolutionary heat pump with no moving parts, they achieved an output of 270 degrees with a 145-degree heat source to drive the cycle. Developed by a team led by Luo Ercang at the Technical Institute of Physics and Chemistry of the Chinese Academy of Sciences (CAS), the technology could generate…

Chinese biotech Scizeng’s global licensing deal to yield up to US$1.44 billion

A Chinese biopharmaceutical firm has sealed a global licensing deal valued at up to US$1.44 billion, the second in a week, as a wave of cross-border tie-ups shows no sign of abating despite headwinds from the US Biosecure Act. Shanghai Scizeng Medical Technology, a unit of Changchun High-Tech Industry, has agreed to grant US-based Yarrow Bioscience exclusive global rights to develop, manufacture and commercialise GenSci098, an injectable therapy for thyroid eye disease and Graves’ disease, both of which are autoimmune conditions. The deal excludes mainland China, Hong Kong, Macau and…

China offers more support to returning overseas students as influx grows

China has launched a national-level service platform to help returning overseas students find work and start businesses, as the country steps up its efforts to attract talent and the number of returnees surges. The Ministry of Education has partnered with 50 organisations to provide returnees with entrepreneurial mentors and match them directly with local government and corporate needs. The measures show the value of overseas returnees is still recognised at the national level, despite recent scepticism in public discourse about the worth of studying abroad, according to Zheng Jinlian, vice-president…

China seizes 430kg cocaine aided by US intel, in sign anti-drug pact may be working

Chinese authorities last month intercepted 430kg (948lbs) of cocaine aided by tip-offs from the United States, indicating possible progress on the issue following an agreement on counternarcotics cooperation reached by the leaders of the two countries in October. The drugs were found inside an international container at Yantian port in Shenzhen, southern China, on November 26, state broadcaster CCTV reported on Tuesday. The case is under investigation and no other details were given. Advertisement Earlier this month, China said narcotics control authorities in both countries had been steadily “advancing joint…

Bondi Beach attack ‘inspired’ by Isis, Australian police say

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The alleged perpetrators of a terror attack on a Jewish event in Sydney on Sunday night were inspired by Isis and had travelled to the Philippines last month, according to Australian authorities. Krissy Barrett, Australian Federal Police commissioner, told a press conference on Tuesday that “early indications point to a terrorist attack inspired by Islamic State, allegedly committed by a father and son”.  She said that there was no evidence…

Australian police probe Isis and Philippines links to Bondi gunmen

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The alleged perpetrators of a terror attack on a Jewish event in Sydney on Sunday night were inspired by Isis and had travelled to the Philippines last month, according to Australian authorities. Krissy Barrett, Australian Federal Police commissioner, told a press conference on Tuesday that “early indications point to a terrorist attack inspired by Islamic State, allegedly committed by a father and son”.  She said that there was no evidence…

Mexico’s tariffs on China show the rise of Trump’s trade template

Unlock the White House Watch newsletter for free Your guide to what Trump’s second term means for Washington, business and the world The writer is President Trump’s senior counsellor for trade and manufacturing Mexico’s decision last week to impose tariffs of up to 50 per cent on a wide swath of Chinese and other Asian imports is more than a neighbourhood scuffle. It is a major milestone in President Trump’s trade revolution — and in the postwar international trading system itself.  Now, one of America’s closest trading partners is openly…

The key distinction Europe must make on trade policies

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 of the Carnegie Endowment for International Peace Europe is often portrayed as the great underperformer of the global economy, undermined by economic rigidity, high wages and an expansive social welfare system. For years critics have argued that these features must be reversed because they erode Europe’s competitiveness, pushing manufacturing activity towards more “nimble” economies that suppress wages, weaken labour protections, subsidise manufacturing and maintain…