Six multinational construction equipment firms, including Caterpillar and Volvo, face allegations of aiding war crimes by supplying excavators to Israel. Verified images show Israeli military using their equipment to demolish villages in south Lebanon, prompting calls for companies to halt supplies.
Two Hong Kong media groups and Kazakhstan's Khabar Agency signed an MOU to promote 'accurate narratives' and facilitate journalist exchanges. The South China Morning Post also partnered with Kazakhstan's special financial zone to boost ties.
Cash holdings at traditional industry companies listed in Hong Kong and Shanghai have increased, contrasting with tech firms investing in AI. Companies are deploying capital towards buy-backs and dividends due to subdued confidence and weak investment appetite.
Phu Quoc's US$5.2 billion summit project, including airport overhaul and infrastructure, faces significant delays 18 months before the November 2027 event. Shortages of workers, materials, and unfinished construction plague the development.
Finance Minister Koo Yun-cheol urged major South Korean conglomerates including Samsung, Hyundai and SK hynix to continue innovating and developing new growth engines amid global industrial shifts like AI transformation. The minister noted the economy posted 1.7% quarterly GDP growth in Q1 — the fastest in 5 1/2 years — while pledging government support through regulatory reform and investment measures.
LVMH CEO Bernard Arnault warned at the company's Paris AGM that the Middle East conflict could cause a 'world catastrophe' with serious economic impact. The conflict halved the luxury giant's Q1 sales growth to just 1%, raising concerns about the sector's expected 2026 recovery. Arnault said if the conflict isn't resolved, 2026 could be severely impacted, but if resolved, business could recover in H2.
