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Can China find a market for its fifth-generation J-35 warplanes?
TechnologySCMP4d ago

Can China find a market for its fifth-generation J-35 warplanes?

China’s push to sell its J-35 fifth generation fighter jet in the Asia-Pacific was likely to face stiff competition from US rival the F-35 as well as cheaper alternatives, military analysts said after the plane featured at this year’s Singapore Airshow. They said political and economic considerations apart from performance would weigh on potential buyers, and questioned how many countries would want to buy the Chinese plane. In Singapore this month, the booth operated by China National...

In Singapore, dancer Marco Carrer at a talk on contemporary dance challenges
CultureANSA6d ago

In Singapore, dancer Marco Carrer at a talk on contemporary dance challenges

(ANSA) - ROMA, 19 FEB - The role of dance as a space for cultural dialogue and international collaboration was the focus of 'Lives on Pointe', a meeting hosted by the Italian Embassy in Singapore and dedicated to comparing the Italian and Southeast Asian dance scenes. The talk featured Italian dancer Marco Carrer, prima ballerina Myrna Kamara, and Chihiro Uchida, artistic director of the Kadence Ballet Academy and partner in the initiative. The dialogue explored the artists' professional paths, the challenges of contemporary ballet, and the opportunities associated with international mobility, while also offering a glimpse into the development of dance in Singapore and the region. In his speech, Ambassador Dante Brandi emphasized the strategic value of this cooperation: "Ballet," he said, "preserves an extraordinary tradition and continues to nurture outstanding talent, but today it must face profound changes that require openness and international collaboration. The dialogue between Italy and Singapore encourages the cross-fertilization of experiences, skills, and artistic visions, helping to strengthen a vital, contemporary, and evolving cultural ecosystem." The event is part of Italy's broader cultural diplomacy efforts to promote dance as a privileged area of exchange between Italy and Singapore. Read article...

Singaporean woman jailed for slapping taxi driver after refusing to pay US$19 fare
WorldSCMP6d ago

Singaporean woman jailed for slapping taxi driver after refusing to pay US$19 fare

When told that her taxi fare was S$24 (US$19), a woman said she had no cash and refused the payment options suggested by the cabby. After the woman challenged him to take her to a police station, the elderly taxi driver did so – and she then slapped him. Shalini Devarajan, a 36-year-old Singaporean, was sentenced to two weeks’ jail on Thursday for one count of voluntarily causing hurt. The court heard that the victim, a 73-year-old man at the time, was driving a taxi that was flagged down by...

Tiny island, big hustle
BusinessBusiness Insider9d ago

Tiny island, big hustle

Ivan Leong, like many other millennials and Gen Z in Singapore, has ditched the corporate grind and opened small F&B businesses. Aditi Bharade "We're the same age," I told Ernest Ang, a 24-year-old who opened an eatery two years ago with his grandmother's recipes. And yet, it feels like we live in different worlds. Every day, he whips up large batches of fried chicken and beef rendang in Singapore's 90-degree tropical heat. On the other side of the island, in the glitzy financial district, I write about the Trump administration and the general chaos of the world. I started my first job in a newsroom after graduating from college in 2024, diving headfirst into the corporate grind. I sign off at 5:30 p.m. and value the work-life balance my writing job offers. Last year, I started collecting stories of Singaporean Gen Zers and millennials shunning the comfort and stability of the 9-5 in favor of starting their own food businesses — ventures that come with backbreaking long hours. I was humbled. Au Hui Her, a millennial bakery owner, starts prepping loaves of sourdough bread at 4 a.m. Aditi Bharade Hawker centers, like where Ang set up shop, are the go-to for budget meals in Singapore. They're cheap, hearty, and convenient, and I've eaten from them as long as I can remember. There are 123 hawker centers in the country, managed by the National Environment Agency. On average, each center has about seven to 10 individual stalls. Traditionally, they sell dishes like Hainanese chicken rice, bak kut teh, a peppery and flavorful pork soup, or nasi lemak, aromatic rice served with dishes. The stalls are typically run by middle-aged to senior hawkers. Hawker centers in Singapore are typically run by older business owners who sell traditional fare. Aditi Bharade But as younger hawkers join the business, there's been an increase in specialty stalls selling matcha, craft beer, baked goods, and fusion dishes. Success is an uphill battle, with a massive failure rate due to rising store rents and a frugal consumer base. In 2025, 3,074 food and beverage businesses in Singapore closed their doors, per statistics from the Accounting and Corporate Regulatory Authority of Singapore. This has not deterred hopeful entrepreneurs — 4,103 new food businesses opened last year. Ernest Ang, 24, opened a restaurant featuring his grandmother's recipes, and said he prefers the life to working in an office. Aditi Bharade Most of the young chefs I interviewed work six to seven days a week, getting up well before the sun rises to prep ingredients for the day and retiring late into the night after feeding hungry dinner crowds. I spoke with eight Gen Z and millennial F&B owners across the country about what makes them tick, what fears give them chills at night, and if they regret choosing a risky career path. Spoiler: They don't. Credits Reporter: Aditi Bharade Editors: Cheryl Teh, Meghan Morris Read the original article on Business Insider

The founder of a huge boba chain said he opened stores next to Starbucks to get a fraction of its customers
BusinessBusiness Insider10d ago

The founder of a huge boba chain said he opened stores next to Starbucks to get a fraction of its customers

Gong Cha's founder said he opened his first few stores in strategic locations. Smith Collection/Gado/Getty Images Bubble tea chain Gong Cha's founder said he banked on Starbucks' success to get his first customers. He said he opened stores in South Korea next to Starbucks outlets to get a fraction of its customers. The bubble tea chain now has nearly 2,200 stores in 33 countries. The founder of the bubble tea brand Gong Cha said he had a novel idea to get his first patrons through the door. In an interview with CNBC, Martin Berry, the founder and chairman of Gong Cha group, spoke about how he came across one of the chain's outlets in Singapore before it became a global boba behemoth. Berry said he and his wife pooled $2.5 million of their savings to open the first five Gong Cha franchise stores in South Korea, a venture he said was "quite terrifying." Berry quit his banking job to go all in on bubble tea. To get his first customers in Seoul, he decided to get Starbucks' help. "So my strategy was, I'm going to put a Gong Cha — the first five stores — next to Starbucks," Berry told CNBC. "And if I can get one in a hundred people who are going into Starbucks to come and try a Gong Cha, then I've got a business." Gong Cha was founded in Taiwan in 1996 by Wu Zhenhua, and Berry entered the business in 2011 to expand the brand to South Korea and other countries. As of January, the chain had about 2,200 stores in 33 countries, including the US and Canada. The chain is known for its fragrant, fruity teas and its milk foam topping. Bubble tea brands have seen large success in recent years, with several making splashy IPOs. Mixue, the world's largest fast-food chain that sells cheap bubble tea and ice cream, has more than 45,000 stores worldwide and just opened its first outlet in New York City at the start of the year. It went public in Hong Kong last March, with its stock jumping 30% from its IPO price at market open. Other Asian beverage brands, like Luckin Coffee, have positioned themselves as Starbucks' rivals, offering similar drinks at lower prices. Luckin Coffee expanded to the US last year, with several outlets in NYC. Read the original article on Business Insider

US, Thailand lead 30 nations in Southeast Asia’s largest military drill
WorldSCMP2h ago

US, Thailand lead 30 nations in Southeast Asia’s largest military drill

More than 8,000 personnel from 30 countries are taking part in Cobra Gold, one of the largest and longest running multinational military exercises in Southeast Asia. The annual exercises are being held in many provinces across Thailand until March 6, aiming to strengthen coordination among participating nations and develop military capabilities to align with current global circumstances. Thailand and the United States, which are co-hosts of the drill, along with Singapore, Indonesia, Japan,...

Sabah quake strongest to hit Malaysia in 11 years, tremors felt in Singapore
ScienceSCMP1d ago

Sabah quake strongest to hit Malaysia in 11 years, tremors felt in Singapore

The 6.8 magnitude earthquake that struck off the coast of Sabah early Monday morning is the strongest to hit Malaysia in over a decade. Malaysian Meteorological Depart­ment Director General Mohd Hisham Mohd Anip said that based on the department’s records, the previous strongest earthquake in the country occurred on June 5, 2015, in Ranau, Sabah. The 6.0-magnitude temblor in Ranau claimed 18 lives and is still regarded as one of the most notable earthquakes in the country’s history. According...

G-Dragon’s media show drew 250,000 fans worldwide
CultureKorea Herald2d ago

G-Dragon’s media show drew 250,000 fans worldwide

G-Dragon’s yearlong “Ubermensch” media exhibition wrapped up in Bangkok, logging over 250,000 visitors, Galaxy Corp. said Tuesday. Incorporating state-of-the-art technology into the message from the artist’s third solo studio album of the same title, the interactive show blurred the line between exhibition and performance, inviting viewers to participate. The exhibition was unveiled in Seoul in March last year and traveled to 10 cities across Asia, including Tokyo, Singapore, Hong Kong and Bangk

TechnologyDawn2d ago

India plans AI ‘data city’ on staggering scale in Andhra Pradesh

As India races to narrow the artificial intelligence gap with the United States and China, it is planning a vast new “data city” to power digital growth on a staggering scale, the man spearheading the project says. “The AI revolution is here, no second thoughts about it,” said Nara Lokesh, information technology minister for Andhra Pradesh state, which is positioning the city of Visakhapatnam as a cornerstone of India’s AI push. “And as a nation… we have taken a stand that we’ve got to embrace it,” he told AFP ahead of an international AI summit next week in New Delhi. Lokesh boasts the state has secured investment agreements of $175 billion involving 760 projects, including a $15bn investment by Google for its largest AI infrastructure hub outside the United States. And a joint venture between India’s Reliance Industries, Canada’s Brookfield and US firm Digital Realty is investing $11bn to develop an AI data centre in the same city. Visakhapatnam — home to around two million people and popularly known as “Vizag” — is better known for its cricket ground that hosts international matches than cutting-edge technology. But the southeastern port city is now being pitched as a landing point for submarine internet cables linking India to Singapore. “The data city is going to come in one ecosystem… with a 100 kilometre radius,” Lokesh said. For comparison, Taiwan is roughly 100km wide. ‘Whole nine yards’ Lokesh said the plan goes far beyond data connectivity, adding that his state had “received close to 25 per cent of all foreign direct investments” in India in 2025. “It’s not just about the data centres,” he explained while outlining a sweeping vision of change, with Andhra Pradesh offering land at one US cent per acre (three per hectare) for major investors. “I’m chasing the companies that make those servers that go sit in those data centres, the companies that make the entire air conditioning, the water-cooling system — the whole nine yards.” The 43-year-old, Stanford-educated minister is the son of Andhra Pradesh Chief Minister N. Chandrababu Naidu, who helped turn Hyderabad into a major technology hub that is dubbed “Cyberabad”. They are allies of Prime Minister Narendra Modi, who will host the AI Impact Summit from Monday. India is now third in a global AI power ranking — sitting above South Korea and Japan — based on more than 40 indicators from patents to private funding calculated by Stanford University’s Institute for Human-Centred AI. With more than a billion internet users, India has seen a surge of investment as generative AI players seek inroads to the world’s most populous country. Microsoft said in December it will invest $17.5bn to help build the country’s artificial intelligence infrastructure, with CEO Satya Nadella calling it the firm’s “largest investment ever in Asia”. But critics say India lags in access to high-end computing power or commercial AI deployment, and remains more a consumer than creator of the cutting-edge technology. Some question whether data centres will create meaningful employment when up and running, but Lokesh rejects that. “Every industrial revolution has always created more jobs than it has displaced,” he said. “But it has created those jobs in countries that have embraced the industrial revolution.” ‘Learned from China’ Lokesh argues that the jobs and economic benefits would more than compensate for the giveaway cost of land. He said the state government had accounted for the vast electricity and water demands for the energy-hungry industry, and would tap “surplus water” that drains into the Bay of Bengal to cool the massive data centres. “It’s a crime that so much water during monsoons goes into our oceans,” he said. He cited China as an inspiration — admiring how India’s rival had “been able to systematically bring people out of poverty” at speed. The state’s plan to create industrial clusters was something he had “learned from China”. With a target of six gigawatts of data centre capacity — three already signed and another three in the pipeline — Andhra Pradesh is betting that speed and scale will give it an edge. New Delhi last year agreed to “in-principle approval” for six 1.2 GW nuclear power plants at Kovvada in Andhra Pradesh. “We are on a journey,” Lokesh said. “We will execute these projects at a pace that the country has never seen”.

Singapore's Core Inflation Falls to 1% in January
Financechannel-news-asia3d ago

Singapore's Core Inflation Falls to 1% in January

Singapore's core inflation rate dropped to 1% in January from 1.2% in December, while overall inflation rose to 1.4% due to higher accommodation costs offsetting lower core and private transport inflation.

Singapore Debates Regulation of Blind Boxes
PoliticsSCMP6d ago

Singapore Debates Regulation of Blind Boxes

Singapore is considering regulating blind boxes, with discussions centering on whether such measures are 'paternalistic' or a form of 'harm reduction' for consumers attracted to the element of surprise.

Aunties to play matchmakers for single Americans: Singapore’s new tourism campaign replaces dating apps
CultureTimes of India7d ago

Aunties to play matchmakers for single Americans: Singapore’s new tourism campaign replaces dating apps

Singapore invites single Americans to a unique dating experience. Forget apps, 'aunties' will select your match. Two lucky winners get a free trip to Singapore for a blind date. The package includes flights, accommodation, and an 'auntie-approved' itinerary. This campaign blends tourism with human connection, showcasing Singapore's culture and food. Applications close March 13, 2026.

The 30 countries that spend the most on their militaries, ranked
WorldBusiness Insider8d ago

The 30 countries that spend the most on their militaries, ranked

The US has the most expensive military in the world. Tajh Payne/US Navy via Getty Images The International Institute for Strategic Studies compiled data about the world's military budgets. The top militaries spend hundreds of billions of dollars on defense, with the US leading worldwide. President Donald Trump has proposed increasing annual defense spending to $1.5 trillion. The US has the world's most expensive military, spending nearly $1 trillion on defense each year. That's roughly four times China's reported defense budget, the next largest. From spending on nuclear technology to advanced aircraft and warships, the world's top militaries allocate hundreds of billions of dollars each year to stay ahead. In some countries, big-ticket items such as naval assets or technologically advanced aircraft or missiles account for the bulk of military spending, while others devote large sums to maintaining large conscription troop systems. Ultimately, military spending varies by country depending on location and interests, Gian Gentile, a retired US Army colonel and senior historian at RAND, told Business Insider. Some countries prioritize homeland defense while others value overmatch and far-reaching power projection. "The US spends a lot on more sophisticated, extremely precise weapon systems," he said. A military's budget can be measured either as a total amount or as a share of its country's GDP, reflecting the burden on its economy. Worldwide, countries spent an average of 2.4% of their GDP on defense in 2024. Wartime spending as a share of GDP typically rises, putting strain on the civilian economy, said Mark Cancian, a senior advisor at the Center for Strategic and International Studies. Ukraine in 2024, for example, devoted over 15% of its GDP to its military, the highest share globally. Spending statistics help paint a picture of defense priorities, but they don't always translate into readiness for conflict. "Readiness is very expensive, and perishable," Cancian said. A country's on-paper investment in its defense systems doesn't always translate directly into military capability, he added. Training and maintenance are often overlooked in analyses of spending on equipment and technologies. A particularly significant cost when it comes to technologically advanced aircraft, for instance, is maintenance and sustainment. Still, looking at military budgets can reveal how much capital each country relies on to defend itself. Last year, the International Institute for Strategic Studies, a London-based think tank, released its Military Balance report, which included data on nearly every country's defense budget based on each's reported 2024 figures. The report includes each country's total budget (in US dollars), per-capita figures, and defense budget as a share of GDP. Some countries, such as North Korea, Libya, Syria, Cuba, and Afghanistan, did not publicly report their defense budgets. These are the 30 countries that spend the most on their military, ranked by the size of their defense budgets. 30. Qatar KARIM JAAFAR/AFP via Getty Images Defense budget: $9.66 billion Defense budget per capita: $3,785 Percentage of GDP: 4.36% 29. Norway Yauhen Yerchak/SOPA Images/LightRocket via Getty Images Defense budget: $9.79 billion Defense budget per capita: $1,776 Percentage of GDP: 1.94% 28. Mexico Victoria Razo / AFP Defense budget: $10.19 billion Defense budget per capita: $78 Percentage of GDP: 0.55% 27. Indonesia BAY ISMOYO / AFP Defense budget: $10.93 billion Defense budget per capita: $39 Percentage of GDP: 0.78% 26. Sweden Leon Neal/Getty Images Defense budget: $12.25 billion Defense budget per capita: $1,157 Percentage of GDP: 2.01% 25. Iraq Zaid AL-OBEIDI / AFP Defense budget: $12.68 billion Defense budget per capita: $301 Percentage of GDP: 4.8% 24. Turkey Anadolu/Anadolu via Getty Images Defense budget: $14.27 billion Defense budget per capita: $170 Percentage of GDP: 1.06% 23. Singapore ROSLAN RAHMAN/AFP via Getty Images Defense budget: $15.17 billion Defense budget per capita: $2,517 Percentage of GDP: 2.86% 22. Taiwan I-Hwa Cheng / AFP Defense budget: $18.86 billion Defense budget per capita: $799 Percentage of GDP: 2.43% 21. Spain picture alliance/dpa/picture alliance via Getty Images Defense budget: $19.44 billion Defense budget per capita: $411 Percentage of GDP: 1.12% 20. Algeria NurPhoto/NurPhoto via Getty Images Defense budget: $21.4 billion Defense budget per capita: $455 Percentage of GDP: 8.23% 19. United Arab Emirates VCG/VCG via Getty Images Defense budget: $22.27 billion Defense budget per capita: $2,220 Percentage of GDP: 4.09% 18. The Netherlands Remko de Waal / ANP / AFP Defense budget: $23.61 billion Defense budget per capita: $1,328 Percentage of GDP: 1.94% 17. Brazil Anadolu/Anadolu via Getty Images Defense budget: $24.4 billion Defense budget per capita: $111 Percentage of GDP: 1.11% 16. Canada Artur Widak/NurPhoto Defense budget: $27 billion Defense budget per capita: $696 Percentage of GDP: 1.22% 15. Poland Aleksander Kalka/NurPhoto Defense budget: $28 billion Defense budget per capita: $723 Percentage of GDP: 3.25% 14. Ukraine Tetiana DZHAFAROVA / AFP Defense budget: $28.41 billion Defense budget per capita: $797 Percentage of GDP: 15.43% 13. Israel Elke Scholiers/Getty Images Defense budget: $33.75 billion Defense budget per capita: $3,589 Percentage of GDP: 6.39% 12. Italy Antonio Masiello/Getty Images Defense budget: $35.23 billion Defense budget per capita: $578 Percentage of GDP: 1.48% 11. Australia Ian Hitchcock/Getty Images Defense budget: $36.40 billion Defense budget per capita: $1,360 Percentage of GDP: 2.02% 10. South Korea Kim Jae-Hwan/SOPA Images/LightRocket via Getty Images Defense budget: $43.88 billion Defense budget per capita: $842 Percentage of GDP: 2.35% 9. Japan JIJI Press / AFP Defense budget: $53.01 billion Defense budget per capita: $430 Percentage of GDP: 1.3% 8. France Philippe Magoni / POOL / AFP Defense budget: $64.03 billion Defense budget per capita: $937 Percentage of GDP: 2.02% 7. Saudi Arabia BANDAR ALDANDANI/AFP via Getty Images Defense budget: $71.73 billion Defense budget per capita: $1,963 Percentage of GDP: 6.52% 6. India Roslan RAHMAN / AFP Defense budget: $74.36 billion Defense budget per capita: $53 Percentage of GDP: 1.91% 5. United Kingdom Owen Humphreys - PA Images/PA Images via Getty Images Defense budget: $81.06 billion Defense budget per capita: $1,184 Percentage of GDP: 2.26% 4. Germany Michaela Stache / AFP Defense budget: $85.98 billion Defense budget per capita: $1,022 Percentage of GDP: 1.83% 3. Russia VCG/VCG via Getty Images Defense budget: $120.32 billion Defense budget per capita: $854 Percentage of GDP: 5.51% 2. China Greg Baker / AFP Defense budget: $234.98 billion Defense budget per capita: $166 Percentage of GDP: 1.29% 1. United States Mario Tama/Getty Images Defense budget: $967.96 billion Defense budget per capita: $2,831 Percentage of GDP: 3.32% Read the original article on Business Insider

Indian man deported from Singapore in alleged job visa scam
BusinessTimes of India14h ago

Indian man deported from Singapore in alleged job visa scam

A Bhayandar man was deported from Singapore after his work visa and job offer were found to be fake, costing him INR 3.6 lakh. Immigration authorities discovered the company didn't exist and the visa was forged. Police are investigating the suspected job scam. Experts urge job seekers to verify employers and visa procedures independently to avoid such fraudulent schemes.

Anthony Chen’s Berlin Competition Film ‘We Are All Strangers’ Scores Major Worldwide Deals for Paradise City Sales (EXCLUSIVE)
Culturevariety1d ago

Anthony Chen’s Berlin Competition Film ‘We Are All Strangers’ Scores Major Worldwide Deals for Paradise City Sales (EXCLUSIVE)

Anthony Chen’s Berlinale competition title “We Are All Strangers” has proven to be a hot title, with Paris-based Paradise City Sales locking in distribution partners across the world. The film made history as the first Singaporean entry ever to compete in Berlin’s main competition section. Among the deals closed are ARP Selection (France), Curzon (U.K. […]

Singapore warns ‘action will be taken’ against citizens fighting for foreign causes
PoliticsSCMP2d ago

Singapore warns ‘action will be taken’ against citizens fighting for foreign causes

Action will be taken against any Singaporean who fights overseas in foreign causes, Coordinating Minister for National Security K Shanmugam has said, emphasising the importance of racial and religious harmony in maintaining peace in Singapore. He also noted the critical role of religious and community leaders who help set the tone for harmony in Singapore. Shanmugam, who is also Minister for Home Affairs, was speaking at a fast-breaking session co-organised by Khadijah Mosque and the Religiou...

&Team to launch Asia tour
CultureKorea Herald2d ago

&Team to launch Asia tour

Boy group &Team is set to embark on a tour of 11 cities across Asia, according to agency YX Label Tuesday. The nine-member act will begin the tour in Kanagawa, Japan on May 13, and hop around more cities in the country. It will perform in Incheon on July 4 and 5, about a year after its last concert in Seoul, before flying to Bangkok and Singapore for shows in July and August, respectively. The group's first tour in Asia attracted more than 160,000 fans last year and its debut album in Korea roll

Cross-border trips to Johor push Singapore checkpoint traffic to record high in 2025
BusinessSCMP2d ago

Cross-border trips to Johor push Singapore checkpoint traffic to record high in 2025

Nearly every Sunday, consultant Toh Jia Jie and his wife leave their new flat in Singapore and drive north across the border to Johor for a day of cheaper shopping, pickleball and massages before returning past midnight on Monday morning. Toh, 30, is among the close to 245 million travellers who passed through Singapore’s checkpoints last year, a record high. The Immigration and Checkpoints Authority (ICA) said on Monday that figure represented a 6.3 per cent increase – about 14 million more...

Singapore busker ‘stunned like a vegetable’ after ex-PM Lee spotted at performance
CultureSCMP6d ago

Singapore busker ‘stunned like a vegetable’ after ex-PM Lee spotted at performance

Singapore street performer Bryan Wong may have performed all around the world, but few gigs can compare to the one where Senior Minister Lee Hsien Loong randomly turned up in the audience. The 29-year-old acrobatics artist was performing his Circles In Circus act at Rainforest Wild Asia when he spotted Lee and his wife, Ho Ching, watching from the crowd. In a video later posted to social media, Wong zoomed in to Lee’s face, joking: “Sir, I’m sorry, I’m going to zoom in to your face, thank you...

No proof of any Singaporean fighting for Israel in Gaza, government says
PoliticsSCMP6d ago

No proof of any Singaporean fighting for Israel in Gaza, government says

Singapore has no substantiated information that any Singaporean is or was fighting as part of the Israel Defence Forces (IDF) during the war in Gaza, its Ministry of Home Affairs has said, after several media reports claimed two passport holders from the city state were among 200 Southeast Asians who had fought with Israeli troops. Qatari news outlet Al Jazeera reported on Sunday, citing information obtained by Israeli non-governmental organisation Hatzlacha under Israel’s Freedom of Information...

Futures, Global Markets Rise With US Markets Closed For President's Day
Financezerohedge9d ago

Futures, Global Markets Rise With US Markets Closed For President's Day

Futures, Global Markets Rise With US Markets Closed For President's Day Stocks gained, bitcoin tumbled and bonds steadied after Friday's cool CPI data reinforced expectations that the Fed will cut interest rates on multiple occasions this year. With US markets closed for the Presidents’ Day holiday and mainland China’s markets closed for Lunar New Year holidays, trading was muted on Monday. As of 9:00am ET, futures on the S&P 500 added 0.4% and Europe’s Stoxx 600 index rose 0.4% as banking shares rebounded from a sharp decline last week. German bunds and Treasury futures were steady after US yields touched the lowest since December on Friday. The path of US interest rates remains in focus following Friday’s slower-than-expected US inflation print as traders fully price a Fed cut in July and the strong chance of a move in June.   “The backdrop for equities is positive post CPI,” said Andrea Gabellone, head of global equities at KBC Securities. At the same time, there could be “more dispersion ahead as sentiment around key AI-exposed sectors is still very critical,” he added.  That sentiment was echoed by other strategists seeking to distinguish between AI losers and winners. A JPMorgan Chase & Co. team led by Mislav Matejka urged caution on stocks at risk of AI-driven “cannibalization,” including software, business services and media companies. Meanwhile, banks are developing baskets to capitalize on the divergence: as we first reported last Thursday, Goldman launched a new basket of software stocks that goes long firms that will benefit from AI adoption, while shorting the companies whose workflows could be replaced. With AI disruption rippling through markets, a lot will come down to earnings resilience, in particular in the US.  “When you look at the current earnings season, the companies are showing 13% of growth,” Nataliia Lipikhina, head of EMEA equity strategy at JPMorgan, told Bloomberg TV. “Overall, this is the reason why we continue to be positive on the S&P.” Later this week, traders will be watching for ADP private payrolls numbers on Tuesday and the minutes from the Fed’s January meeting on Wednesday for a fresh read on the economy. European stocks gained with bank shares rebounding, after posting their biggest weekly decline since April on worries about disruption from artificial intelligence. The basic resources sector lags, with Norsk Hydro among Europe’s worst performers as both Goldman Sachs and RBC downgrade the stock. Stoxx 600 rises 0.4% to 620.26 with 253 members down, 336 up, and 11 unchanged. Here are some of the biggest movers on Monday:  NatWest shares rise as much as 4%, the most since October, as Citi analyst Andrew Coombs raises his price target on the UK bank to a Street-high. Seraphim Space shares rise as much as 9.2%, briefly hitting a new all-time high, after the space tech investment firm said the valuations of its four largest holdings increased over the final months of 2025. AECI shares rally as much as 6.1%, the most since July, after the South African commercial-explosives maker shared improved 2025 headline earnings per share guidance. Orsted shares rise as much as 3.8% after analysts at Kepler raise the recommendation to buy from hold over the Danish renewable energy firm’s outlook, despite ongoing uncertainty for the industry in the US. Norsk Hydro shares fall as much as 4.4%, extending Friday’s 5.9% earnings-triggered drop, after being downgraded at Goldman Sachs and RBC over disappointments and pricing pressures in the Norwegian aluminum company’s downstream business. Galderma shares slip as much as 2.2% after naming Luigi La Corte as its new chief financial officer following the news back in July that Thomas Dittrich was departing. Pinewood Technologies shares tumble as much as 32%, the most since April 2024, after Apax Partners said on Friday it will not proceed with a possible cash offer for the car dealership software provider. FlatexDEGIRO shares drop as much as 7.2% after BNP Paribas downgraded the online brokerage firm to neutral from outperform, saying the price reflects too much optimism about its market position in Germany. Maurel & Prom shares slump as much as 12%, pulling back after ending last week at a 2015-high, after announcing it is not currently authorized to resume oil and gas operations in Venezuela. Barratt Redrow shares fall as much as 3.7%, leading a drop in British homebuilders after Rightmove said house prices are stalling. Asian stocks slipped for a second day, led by declines in Japan as traders booked profits after last week’s post-election rally. Several markets were closed or held shortened trading sessions for the Lunar New Year holiday. The MSCI Asia Pacific Index was down 0.1%. Japan’s Topix Index fell 0.8%, with Mizuho Financial Group Inc. and Toyota Motor Corp. among the companies contributing to the index’s losses.In Hong Kong, AI model developer Minimax Group Inc. surged as much as 30% to more than four times its original listing price, while competitor Knowledge Atlas JSC Ltd. ended 4.7% higher. The market will be closed until Thursday. As investors across the region begin to reevaluate their bets on its artificial-intelligence-driven rally, traders in Japan cashed in gains driven by expectations of Prime Minister Sanae Takaichi’s proactive spending policies last week.Trading in Singapore ended early Monday and will be shut until Wednesday. Equity markets in mainland China, South Korea, Indonesia and Vietnam were closed.  In FX, the yen is the notable mover in currencies, weakening 0.5% against the dollar and pushing USD/JPY back above 153. The offshore yuan is one of the better performers against the greenback. The Bloomberg Dollar Spot Index rises 0.1%. There is no cash trading in Treasuries due to the Presidents’ Day holiday. European government bonds are little changed In commdities, gold dipped below $5,000 an ounce, as traders booked profits from a gain in the previous session. Bitcoin tried anf ailed to stage a modest rebound; it last traded around $68,275 after posting its fourth consecutive weekly loss, with the cryptocurrency struggling to find clear direction as a weekend rally fizzled once the momentum ignition algos emerged.  WTI crude futures tread water near $62.90 a barrel.  Top Headlines President Trump said there will be voter ID rules in the mid-term elections this year, whether Congress approves it or not, and they will present a legal argument in an Executive Order. Furthermore, Trump said he has searched the depths of legal arguments not yet articulated nor vetted on this subject, and they will be presenting an irrefutable one in the very near future. Iran says potential energy, mining and aircraft deals on table in talks with US: RTRS Pentagon threatened to cut its ties with Anthropic over the company’s insistence that some limitations are kept on how the military uses its AI models: RTRS UK eyes rapid ban on social media for under 16s, curbs to AI chatbots: RTRS Rampant AI Demand for Memory Is Fueling a Growing Chip Crisis: BBG Warner Bros. Weighs Reopening Sale Negotiations With Paramount: BBG Companies Are Replacing CEOs in Record Numbers—and They’re Getting Younger: WSJ Europe aims to rely less on US defence after Trump's Greenland push: RTRS DOJ Tells Lawmakers Epstein File Redactions Complied With LawL BBG For College Applicants, Pressure to Make Summers Count Has Gotten Even Worse: WSJ Fed's Goolsbee (2027 voter) said on Friday that they are still seeing pretty high services inflation, and he hopes they have seen the peak impact of tariffs, while he added that the job market has been steady, with only modest cooling.  The Break Is Over. Companies Are Jacking Up Prices Again: WSJ Trade/Tariffs USTR Greer said the US and Ecuador expect to sign a trade agreement in the coming weeks. China will waive import value-added taxes on selected seeds, genetic resources, and police dogs through to 2030 to increase agricultural competitiveness and breeding capacity. It was also reported that China will grant zero-tariff access to 53 African nations from May 1st, according to Bloomberg. Chinese Foreign Minister Wang Yi told his French and German counterparts that China and the EU are partners, not rivals, while he added that China and the EU should manage differences, deepen practical cooperation and work together on global challenges. A more detailed look at global markets courtesy of Newsquawk APAC stocks began the week in the green but with gains limited following a lack of major fresh catalysts from over the weekend and amid thinned conditions owing to holiday closures in the region and North America. ASX 200 traded marginally higher with upside led by tech, although gains are capped by underperformance in the utilities, mining, materials and resources sectors, while participants also digested a slew of earnings releases. Nikkei 225 traded indecisively with the index constrained by disappointing Japanese preliminary Q4 GDP data, which showed the economy returned to growth but failed to meet expectations with GDP Q/Q at 0.1% (exp. 0.4%), and annualised GDP at 0.2% (exp. 1.6%). Hang Seng finished higher in a shortened trading session on Chinese New Year's Eve but with upside limited by tech weakness amid some confusion after the Pentagon added several companies including Baidu, Cosco, BYD, Huawei, Nio, SMIC, Tencent, and more to a list of Chinese firms aiding the military on Friday, but then withdrew the updated list shortly after it was posted. Furthermore, price action was also restricted by the closure of mainland markets and the absence of stock connect flows, which will remain shut for more than a week. US equity futures kept afloat in quiet trade amid the absence of drivers and participants. European equity futures indicate a mildly positive cash market open with Euro Stoxx 50 futures up 0.1% after the cash market closed with losses of 0.4% on Friday. Asian Headlines Chinese President Xi called for the anchoring of economic growth around domestic demand as its main driver, in a speech during a key policy meeting late last year that was released on Sunday. China is to establish a permanent financial support framework to promote rural revitalisation and prevent a slide back into poverty, which represents a shift from transitional aid to long-term support. China’s market regulator summoned major online platform companies on Friday, including Alibaba, Douyin and Meituan, while it directed them to comply with laws and regulations, and rein in promotional practices, according to Bloomberg. US Secretary of State Rubio and Japanese Foreign Minister Motegi reaffirmed their commitment to deepen bilateral ties. Disney (DIS) sent a ‘cease and desist’ letter to ByteDance over Seedance 2.0 and alleged that ByteDance has been infringing on its IP to train and develop an AI video generation model without compensation, according to Axios. It was later reported that ByteDance said it would curb its AI video app following Disney's legal threats, according to the BBC. RBI tightened rules for loans provided to brokers and proprietary firms in an effort to reduce market speculation FX DXY eked slight gains in rangebound trade after a lack of major catalysts and with US participants away on Monday. EUR/USD was little changed amid the absence of any major macro catalysts and with light newsflow from the bloc, while comments from ECB President Lagarde and news that the ECB is to make its repo backstop available to other central banks across the world, did little to spur price action. GBP/USD held on to most of Friday's spoils but with price action contained by resistance around 1.3650 and following comments from BoE's Mann that the UK economy is sluggish and tepid, with consumers spending less due to being scarred by high inflation. USD/JPY edged higher and returned to above the 153.00 level in the aftermath of the weaker-than-expected preliminary Q4 GDP data for Japan. Antipodeans were mixed with little fresh macro drivers and a lack of tier-1 data from either side of the Tasman. Fixed Income 10yr UST futures traded little changed and held on to last week's spoils after returning above the 113.00 level in the aftermath of the softer US inflation data, while price action was contained to start the week by the closure of US cash markets for Washington's Birthday. Bund futures lacked demand in the absence of any major catalysts and with light newsflow from the bloc. 10yr JGB futures were marginally higher following disappointing preliminary GDP data for Q4, but with gains limited after failing to sustain a brief reclaim of the 132.00 level. Commodities Crude futures were rangebound amid light energy-specific newsflow from over the weekend and after last Friday's indecisive performance, where attention was on a source report that noted OPEC+ is leaning towards resuming oil output hikes from April, but with no decision made. Slovak PM Fico said he has information that the Druzhba pipeline has been fixed after damage in Ukraine, although he believes that supplies to Hungary and Slovakia have become a part of political blackmail. Spot gold took a breather after edging higher in the aftermath of the recent softer-than-expected US inflation data, with price action also contained by the holiday closures across Asia and North America. Copper futures were subdued, with their largest buyer away for more than a week due to the Chinese New Year/Spring Festival holiday. Texas venture-backed startup Hertha Metal vowed mass production of steel with 25% cost savings, which could reduce US reliance on imports. Geopolitics: Middle East US military is preparing for potential operations against Iran that could last for weeks if US President Trump orders an attack and the US fully expects Iran to retaliate, according to sources cited by Reuters. US President Trump told Israeli PM Netanyahu during a meeting in December that he would support Israel striking Iran’s ballistic missile program if the US and Iran are not able to reach a deal, according to CBS. Iran confirmed that indirect talks between the US and Iran will resume in Geneva on Tuesday under the mediation of Oman, while Iranian Foreign Minister Araghchi left for Geneva on Sunday. Iranian diplomat said Iran is open to nuclear deal compromises if the US discusses lifting sanctions, while it was also reported that Iran said potential energy, mining and aircraft deals are on the table in talks with the US. Israel’s cabinet approved the proposal to register West Bank lands as ‘state property’, while Palestinians condemned the ‘de facto annexation’ which Peace Now said likely amounts to a ‘mega land grab’. Geopolitics: Ukraine US President Trump said on Friday that Ukrainian President Zelensky is going to have to get moving and that Russia wants to get a deal. US Secretary of State Rubio said they don’t know if Russia is serious about finding an end to the war in Ukraine and will continue to test it, while it was reported that he met with Ukrainian President Zelensky on security and deepening defence and economic partnerships. Ukrainian drones targeted Russia’s Taman seaport and fuel tanks in the Black Sea region. UK and European allies were reported on Friday to be weighing seizing Russian shadow fleet ships and tightening curbs on Russia's economy. French Foreign Minister Barrot said some G7 nations have expressed a willingness to proceed with a maritime services ban on Russian oil, which they hope to include in the 20th sanctions package that they are actively preparing. Geopolitics: Other European Commission President von der Leyen said that they face the very distinct threat of outside forces trying to weaken their union, while she added that mutual defence is not an optional task for the European Union; it is an obligation within their own treaty, and it is their collective commitment to stand by each other in case of aggression. Pentagon said the US military struck an alleged drug cartel boat in the Caribbean, which killed three people. DB's Jim Reid concludes the overnigt wrap I hope you all had a good weekend. To stay in Winter Olympics mood the family watched "Cool Runnings" last night. I haven't seen it for 32 years. Please don't tell anyone but I had a few tears in my eyes at the end. I blamed it on the hay fever that has now started. There will be a lot of tears out there in markets for other reasons at the moment. Just two weeks ago, the idea of AI-driven disruption still felt like an abstract, almost academic thought experiment—something we could safely revisit once we had clearer evidence of how AI would be deployed and integrated across the economy. Fast forward 14 days, and markets have wiped out well over a trillion dollars of global equity value on the fear that AI could fundamentally reshape business models and compress profitability across a wide range of industries, including software, legal services, IT consulting, wealth management, logistics, insurance, real estate brokerage and commercial real estate. Some of the sell off in “old economy” sectors feels overdone to me. But as I argued in our 2026 World Outlook back in November, the real challenge is that even by the end of this year we still won’t have enough evidence to identify the structural winners and losers with confidence. That leaves plenty of room for investors’ imaginations—both optimistic and pessimistic—to run wild. As such big sentiment swings will continue to be the order of the day. My instinct is that the reaction in things like commercial real estate, for example, has been particularly exaggerated. Markets seem to be extrapolating a scenario in which vast numbers of white collar workers are made redundant almost overnight, leading to a dramatic collapse in office demand. If that view turns out to be correct, we’ll be facing societal challenges far larger than anything currently being priced into equities. While trying to catch a falling knife may be too risky for many, beginning to cushion the descent could be sensible in many old economy sectors. Markets can’t sustain a disruption narrative across multiple sectors for months or quarters without concrete evidence — and that evidence is likely to take much longer to emerge. Fascinating times. As for this week, today is a US holiday but inflation will remain in the spotlight at a global level after Friday's slightly softer US CPI which helped contribute to a decent rates rally to end the week. Prints are due in the US (PCE - Friday), the UK (Wednesday), Canada (Tuesday) and Japan (Friday). Other economic highlights will include the FOMC minutes (Wednesday), Q4 GDP in the US (Friday), as well as the global flash PMIs (Friday). Earnings reports will feature Walmart (Thursday), Nestlé (Thursday) and BHP (today). It's the earnings calm before next week's Nvidia storm. In the US, this holiday shortened week (President's Day today) features a data calendar dominated by releases that were pushed back by last year’s government shutdown. The most consequential updates will land on Friday, when the advance estimate of Q4 GDP arrives alongside December’s personal income and consumption figures—key inputs for shaping expectations for the early part of this year. For markets assessing the underlying pulse of demand heading into 2026, private final sales to domestic purchasers (PFDP) will carry more weight than the headline GDP print. This indicator—closely monitored by Fed Chair Powell—is expected by our economists to slow to 2.0% from 2.9% in Q3, though risks appear tilted upward. One swing factor: Wednesday’s durable goods report, where modest gains outside of transportation could soften the deceleration. On the consumer front, real PCE growth is expected to cool to 2.5% after two quarters of outsized strength but should still signal ample momentum heading into the new year. Friday’s income and spending report will also offer the latest reading on core PCE, the Fed’s preferred inflation gauge. Our economists expect another 0.4% monthly increase for December, lifting the year over year rate to 2.9%. Updated seasonal factors from last week’s CPI release suggest some mild downward pressure on inflation trends in the second half of 2025. Still, January’s CPI data, although softer than we anticipated, do not translate into equivalent relief for core PCE—in fact, our team currently sees another 0.4% gain for January's release (delayed until March 13th). Depending on the strength of medical services, airfare, and portfolio management components in the upcoming PPI report, a 0.5% monthly rise cannot be ruled out, which would push the year over year rate toward 3.1%. So don't get too excited about the softer CPI last week and the huge rates rally. Additional releases this week will help clarify whether recent severe winter weather has disrupted factory sector activity. January industrial production, due Wednesday, should benefit from a jump in utility output, while weather effects may weigh on the Empire State Survey tomorrow and the Philadelphia Fed survey on Thursday. Labor market data will also be in focus, particularly Thursday’s jobless claims, which line up with the survey week for the February employment report. As our economists have pointed out, private nonfarm job gains have averaged 103k over the past three months, slightly above the pace at this point in 2025 and matching the start of 2024. See their latest US employment chartbook here. This week will also feature a dense lineup of Federal Reserve speakers which you can see alongside all the key global data in the day-by-day week ahead calendar at the end as usual. Moving away from the US, inflation will also be in focus in Japan (Friday) and Canada (tomorrow). For the former, our Chief Japan Economist sees the January nationwide CPI showing a slowdown in both core CPI inflation ex. fresh food to 2.1% YoY (+2.4% in December) and core-core CPI inflation ex. fresh food and energy to 2.7% (+2.9%). Also important will be the global flash PMIs due on Friday as a health check on global growth. In Europe, the spotlight will be on UK inflation (Wednesday), with labour market data due tomorrow and retail sales on Friday. Our UK economist expects headline CPI inflation to drop to 3.0% YoY (3.4% in December) and core CPI also landing at 3.0% YoY (3.2% YoY). See more in his full preview here. In terms of key rate decisions, the RBNZ are expected to remain on hold on Wednesday. Finally, the Munich Security Conference wrapped up over the weekend, where key topics included Ukraine, Russia, and the fate of Greenland. And while US Secretary of State Marco Rubio’s speech was nothing like Vice President JD Vance’s at last year’s conference, which triggered a “wake-up” call for European leaders, Rubio reiterated the administration’s view that Europe needed to leave behind its focus on energy policies, trade and mass migration. Recapping last week now, the tech volatility that has dogged markets since the start of the month broadened into a far more indiscriminate sell-off. The trough came on Thursday, marked by a sharp drop in software stocks, but the weakness extended well beyond tech. Companies across wealth management, real estate and financials suffered double digit declines, underscoring how widespread the pullback has become. Market breadth confirmed this shift as the equal weighted S&P 500 fell -1.37% on Thursday, though it managed to finish the week up +0.29% (+1.04% on Friday). Ultimately, the sell-off left the major US indices on the back foot: the S&P 500 slipped -1.39% (+0.05% on Friday), the Nasdaq lost -2.10% (-0.22% on Friday), and the Magnificent 7 slid -3.24% (-1.11% on Friday). Although the AI scare dominated sentiment, a heavy slate of US data also shaped the market narrative. Early in the week, softer prints—including flat December retail sales, a dovish Q4 Employment Cost Index, and slower Q4 growth expectations from the Atlanta Fed—pushed Treasury yields lower across the curve. That picture shifted midweek after a stronger than expected January jobs report, which delivered the largest gain in nonfarm payrolls (+130k vs. +65k expected) since December 2024 and reinforced confidence that the US economy carried solid momentum into 2026. Then on Friday, January CPI came in below expectations, adding another dovish note. Although the data offered mixed signals at times, the overall takeaway was sufficiently dovish for traders to increase the number of expected rate cuts by December 2026 to 63.4bps (+7.7bps on the week). This helped drive the largest weekly drop in the 10 year Treasury yield since August 2025, down -15.8bps (-5.0bps on Friday) to 4.05%. The 2 year yield also moved sharply lower, falling -8.9bps to 3.41% (-4.8bps on Friday), its lowest level since 2022. European markets, meanwhile, delivered a comparatively resilient performance. The STOXX 600 (+0.09%, -0.13% Friday), DAX (+0.78%, +0.25% Friday) and FTSE 100 (+0.74%, +0.42% Friday) all posted modest gains for the week. European sovereign bonds rallied as well, with the 10 year bund yield dropping -8.7bps—its steepest weekly decline since April 2025. That move was outpaced by gilts, which fell -9.8bps (-3.6bps on Friday) despite a sharp early week sell-off triggered by renewed questions surrounding Prime Minister Keir Starmer’s position. Elsewhere, performance was mixed. Brent crude edged down -0.44% (+0.34% on Friday), while gold extended its upward run, rising +1.56% (+2.43% on Friday). Will London’s half term week finally give us a quiet week in 2026? You’d probably have to guess at ‘unlikely’. Tyler Durden Mon, 02/16/2026 - 09:40

Renewable Energy Challenges and Innovative Green Initiatives Emerge Globally
EnvironmentAPwapoThe Guardian+3SCMPThe IndependentANSA9d ago6 sources

Renewable Energy Challenges and Innovative Green Initiatives Emerge Globally

While the Iberian power cut offers lessons for renewable energy resilience, the tourism industry struggles with rising carbon emissions. Meanwhile, significant rewilding projects are underway in Wales, and innovative local solutions, like reusing Christmas trees for coastal protection, demonstrate diverse approaches to environmental challenges.