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The Latest Breaking News from China

U.S. to send officials to Solomon Islands due to tensions over China security pact - FT

The White House’s top Asia official is set to travel to the Solomon Islands in a rare high-level visit that underscores alarm in Washington over the Pacific nation’s security pact with China, the Financial Times reported on Friday.

Reuters

Shanghai hospital pays the price for China's COVID response

A series of deaths at a hospital for elderly patients in Shanghai is underscoring the dangerous consequences of China’s stubborn pursuit of a zero-COVID approach amid an escalating outbreak in the city of 26 million people

The Independent UK

Japan, Philippines hold first 2-plus-2 security talks

The foreign and defence ministers of Japan and the Philippines are holding their first "two-plus-two" security dialogue Saturday in which they are expected to express "serious concern" over the security situation in the Indo-Pacific region.

Bangkok Post

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Navy mulls 'other options' amid B13bn sub hubbub

The navy has "some other options" prepared should its 13.5-billion-baht deal to buy a submarine from the China Shipbuilding and Offshore International Company (CSOC) fall through due to the company's failure to procure the German-made MTU 396 engine for the project.

Bangkok Post

Strain of Shanghai’s COVID lockdown tests China’s zero tolerance resolve

TAIPEI, Taiwan — A month ago, China was contemplating how to transition from the “zero tolerance” COVID-19 policy that kept it largely infection-free during the pandemic. But a fast-spreading outbreak in the country’s financial center has shown just how distant that possibility rests.

Los Angeles Times

China rumours raise tourism sector's hopes for bumper Q4

The tourism sector is upbeat about the Chinese market following hints emerging that outbound trips from the mainland might be allowed in the fourth quarter.

Bangkok Post

New COVID lockdowns in China freshen supply chain pressures

Global consumers could feel the effects in the form of continued delays and higher inflation.

Axios

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COVID creates two-speed economy and 'exacerbates' Western Australia's lack of economic diversity

Western Australia's path through the pandemic creates a two-speed economy and that's bad news for business owners like Edward Schimmel.

ABC News

China’s Home Sales Plunge 47% Despite Government Support

Top 50 Chinese property developers report first-quarter debacle during peak selling season amid pandemic shutdowns and rising consumer pessimism

Caixin Global

A Mount Everest mystery cover-up?

Mark Synnott climbed Earth's highest peak to solve a mystery, but found another upon returning.

Salon

Not so fast ... we've all made the odd mistake

Newcastle Herald readers have their say

Newcastle Herald

The world's electric vehicle fleet will soon surpass 20 million

The world is about to pass another important milestone in electric vehicle adoption: 20 million plug-in vehicles on the road globally, come June, according to BNEF estimates. That’s remarkable growth from only 1 million EVs on roads in 2016.

Tribune News Service

Global Cord Blood Corp Looks Anemic on Slow Growth, Regulatory Concerns

Key Takeaways:

Benzinga

Leaning on a Single Artist, Fenghua Qiushi Hopes Fourth IPO Attempt is a Hit

Key takeaways: Fenghuang Qiushi has submitted a new application to list in Hong Kong, its fourth such submission in just 16 months The company is highly dependent on Tencent Music, deriving 38.1% of its revenue from the company last year By Tina Yip

Benzinga

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The Hindu

Parties against RSS and Modi should come together, says Rahul Gandhi

He draws parallel between Russia-Ukraine conflict and border hostilities with China

Benzinga

Mercedes-Benz Inaugurates Electric Software Hub In Germany

Mercedes-Benz Group AG (OTC:DMLRY) inaugurated a new €200 million ($217 million) Electric Software Hub in Sindelfingen, Germany. The center is part of a broader effort by Mercedes-Benz to streamline its software strategy from a patchwork approach bringing in technology from a wide range of suppliers to controlling the core of its software offering…

Benzinga

HSBC Slashes Price Targets On Alibaba, Baidu Due to China's Covid Surge, Regulatory Crackdown

HSBC analyst Charlene Liu cut the price target on Baidu Inc (NASDAQ:BIDU) to $180 from $195 (31.3% upside) and kept a Buy rating on the shares. The analyst now assumes a worse impact from COVID-19 on the company's core ad and cloud businesses and margins, seeing a recovery only in Q4. Liu reduced the price…

Benzinga

Planet Green Inks Share Exchange Agreement With Allinyson

Planet Green Holdings Corp (NYSE:PLAG) has entered into a Share Exchange Agreement with Allinyson Ltd to acquire 100% of the issued and outstanding equity interests of Allinyson. Planet Green will issue 7.5 million shares to the Allinyson Sellers in exchange for the transfer of 100% of their equity interests. Allinyson develops and operates online games,…

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Benzinga

Karat's Goal Is To Build First-Of-Its-Kind Bagasse Production Plant In US: CEO Alan Yu

Karat Packages (NASDAQ:KRT) CEO Alan Yu shared his thoughts with Benzinga on the recently announced joint venture with Happiness Moon to establish a new corporation. Karat plans to establish a new corporation, Green Earth Technology, to build a new 180,000 square-foot factory in Taiwan. It will hold a 49% interest in Green Earth,…

Benzinga

ClearSign Tech Shares Jumps As It Continue To Enjoy Analyst Confidence Post Q4

H.C. Wainwright analysts Amit Dayal and Sameer Joshi maintained a Buy rating on ClearSign Technologies Corp (NASDAQ:CLIR) with a price target of $6.00 post Q4 (300% upside). The analysts believe that ClearSign's products continue to attract customers thanks to the recent win for 20 process burners in California. Further, management suggests that the relationship with sales and…

Benzinga

China Cracks Down Upon Tencent, Other Tech Giants Over Algo Abuse; Questions Alibaba, Others To Address Job Cuts

China looks to rein in the potential abuse of algorithms by internet giants from ByteDance Ltd to Tencent Holdings Ltd (OTC: TCEHY), Bloomberg reports. The Cyberspace Administration of China looks to inspect how social media platforms serve up ads and content to hook users, especially the large-scale websites, platforms, and products with significant influence.…

Benzinga

TSMC Scores In Q1 Thanks To Apple, Samsung

Taiwan Semiconductor Manufacturing Co Ltd's (NYSE:TSM) first-quarter FY22 revenue jumped 36% to NT$491.1 billion ($17 billion). Higher demand for smartphones, computers, and car chips and the ongoing semiconductor crisis helped boost prices, Bloomberg reports. TSMC kept production running in China, even as many other factories struggled to cope with the local pandemic policy. Also…

Reuters

Explainer-What political upheaval in Pakistan means for rest of the world

Pakistan Prime Minister Imran Khan faces a no-confidence vote in parliament on Saturday which he is widely expected to lose.

The Independent UK

South China Sea issues handled 'properly,' Xi tells Duterte

Chinese leader Xi Jinping has told outgoing Philippine President Rodrigo Duterte that the two nations have “properly” handled the sensitive issue of the disputed South China Sea

Benzinga

Renren Inks Software License Agreement With Guangzhou Yupu

Renren Inc (NYSE:RENN) has signed a Software License and Distribution Agreement with Guangzhou Yupu Software Technology Co Ltd. The agreement gives Renren's subsidiary SaaS Logistics US Inc, a license to modify, sell, and commercially exploit the licensed software worldwide, except in Mainland China, for a one-time consideration of RMB2 million ($0.31 million). Rui…

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