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The Latest Breaking News from China

China Merchants Bank Appoints New President in Wake of Corruption Scandal

Wang Liang was made interim head after the lender’s former president was removed in April due to suspected misconduct

Caixin Global

Polestar Decreases 2022 Delivery Plan By 15,000 Citing Chinese Lockdowns

The company was initially looking to build and sell 65,000 vehicles this year, but now this has been adjusted to 50,000 units.

InsideEVs

More Russian Oil Going East Squeezes Iranian Crude Sales to China

Iran's crude exports to China have fallen sharply since the start of the Ukraine war as Beijing favored heavily discounted Russian barrels, leaving almost 40 million barrels of Iranian oil stored on tankers at sea in Asia and seeking buyers. US and European sanctions imposed over Moscow's invasion of Ukraine…

Asharq Al-Awsat

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As stocks continue to slide, Wall Street nears bear market territory

Wall Street's benchmark S&P 500 index is on the cusp of what is known as a bear market, as it nears a 20 percent drop from its peak earlier this year. Investors are fretting over higher interest rates, rising energy prices linked to the war in Ukraine and a slowdown…

France 24

EXPLAINER: How do Australian parties differ on key issues?

Australia’s center-left opposition Labor Party has outspent the ruling conservative Liberal Party-led coalition in election promises during the six-week campaign

The Independent UK

Canada Bans China’s Huawei Technologies from 5G Networks

Wireless carriers in Canada won’t be allowed to install Huawei equipment in their high-speed 5G networks, the Canadian government said Thursday, joining allies in banning the giant Chinese technology company. Canada had been the only member of the Five Eyes intelligence-pooling alliance not to bar or restrict use of equipment…

Asharq Al-Awsat

Biden begins Asia tour aimed at boosting Indo-Pacific ties

US president visits South Korea, Japan to strengthen Indo-Pacific alliances amid China’s rise and Russia-Ukraine war.

Al Jazeera

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Philippines establishes coast guard outposts in disputed sea

The Philippines has established three coast guard outposts on three islands in the disputed South China Sea to monitor ship movements and promote safety at sea

The Independent UK

Bullish Tesla Analyst Cuts Delivery Estimates, PT On This 'Epic Disaster' Headwind

Tesla, Inc. (NASDAQ: TSLA) shares are languishing at their lowest level since August 2021 and it may not be yet time to call the bottom, given the looming risks.

Benzinga

Solomon Islands Opposition Leader accuses AFP of renting property from government MP for inflated price

Solomon Islands Opposition Leader Matthew Wale is accusing the Australian Federal Police of renting a property from a key government MP and powerbroker for a hugely inflated price.

ABC News

As Biden visits Asia, China launches South China Sea drills

China is holding military exercises in the disputed South China Sea coinciding with U.S. President Joe Biden's visit to South Korea and Japan

The Independent UK

Shanghai Composite Index Rose 1.6% on Friday

Shenzhen Component Index closed up 1.82%

Caixin Global

Chess: Carlsen goes head to head with Ding Liren as world top two meet

China’s Ding is the new favourite for next month’s Candidates after Alireza Firouzja, 18, failed in Bucharest, and the 29-year-old will play the world No 1 at least once during the Chessable Masters

The Guardian - UK

‘Difficult to believe’: Biden’s economy plan a tough sell in Asia

US president’s arrival in Seoul will mark start of effort to promote new Indo-Pacific Economic Framework in region.

Al Jazeera

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The Independent UK

Asian stocks rise after Wall St slips closer to bear market

Asian stock markets have advanced after Wall Street fell closer to bear territory, China cut a key interest rate and Japanese inflation rose

The Independent UK

China becomes wild card in Sri Lanka's debt crisis

China says its initiative to build ports and other infrastructure across Asia and Africa, paid for with Chinese loans, will boost trade

ABC News

Growers may dump more grapes next season as wine glut grim forecast continues

The industry is calling on government assistance as a drop in exports to China coupled with rising input costs due to increased disease-pressure and the cost of chemical, fertiliser, fuel and labour has left winegrape growers worried for the future.

The Independent UK

Biden in Asia: New friends, old tensions, storms at home

President Joe Biden hopes to use his visit to Asia to confirm his belief that long-standing friendships can afford to become even friendlier — and pay dividends

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news in one place.

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WEKU

Canada bans China's Huawei Technologies from 5G networks

Wireless carriers in Canada have been banned from installing Huawei equipment in their high-speed 5G networks, as the country joined allies in banning the giant Chinese technology company.

Reuters

Locked-down Shanghai finds new cases, breaking "zero COVID" streak

Shanghai announced its first new COVID-19 cases outside quarantined areas in five days on Friday and imposed stricter curbs in two districts, but did not signal any change to the planned end of a prolonged city-wide lockdown on June 1.

Al Jazeera

North Korea shuns outside help as COVID catastrophe looms

Pyongyang has not responded to offers of help and inquiries from the US, South Korea, the WHO and UNICEF.

The Independent UK

US, S Korean leaders meet in face of N Korea nuclear threat

U.S. President Joe Biden will meet South Korean President Yoon Suk Yeol this week as the allies face a growing threat from North Korea’s nuclear weapons and missile program

Caixin Global

Weekly Must-Read: China’s Record-Breaking Unemployment Rates Amid Covid Lockdowns

Surveyed urban unemployment rate came in at 6.1% in April, while the figure for 16- to 24-year-olds hit the highest ever recorded

The Guardian - AU

Cabinet committee blocked plan to double Australia’s support to Pacific, election-eve leak reveals

‘Extraordinary’ revelation about national security decision shows the government is ‘falling apart’, Labor says

The Hindu

Morning Digest | PM Modi to visit Tokyo for Quad summit next week; China’s Pangong bridge construction is in occupied territory, says India, and more

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