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A woman shops at a supermarket on April 30, 2025 in Arlington, Virginia.Sha Hanting | China News Service | Getty ImagesConsumers in the early part of June took a considerably less pessimistic about the economy and potential surges in inflation as progress appeared possible in the global trade war, according to a University of Michigan survey Friday.The university’s closely watched Surveys of Consumers showed across-the-board rebounds from previously dour readings, while respondents also sharply cut back their outlook for near-term inflation.For the headline index of consumer sentiment, the gauge was at 60.5, well ahead of the Dow Jones estimate for…

Henderson Land Development, one of Hong Kong’s largest developers, has leased a 223,437 sq ft space in its prized mixed-use project in Central to Jane Street Asia in one of the largest leasing transactions in the city’s main business district in decades.The rent for the space, across six floors in New Central Harbourfront, will be HK$137 (US$17.45) per square foot per month, or HK$30.6 million per month, excluding fees. The transaction, which makes the quant trading firm the anchor tenant of the development, is equivalent to 70 per cent of the office and ancillary portion of the first phase of…

In sending two aircraft carriers to the western Pacific concurrently for the first time, Beijing is learning to coordinate the vessels in open ocean, a tactic it would likely use to deter US forces in a Taiwan conflict, according to defence analysts.The two carriers – the Liaoning and Shandong – were spotted in the waters, having entered the western Pacific via separate courses over the past two weeks.They are believed to have practised dispersing, concentrating and communicating in the complex high-seas area.By Friday, Chinese military authorities had not yet declared an end to the exercise. 01:39China says Fujian carrier is…

The US dollar is heading for its biggest one-day profit in a month as investors run to buy up the US dollar once more for safety after Israel launched strikes against Iran, prompting Iran to launch drones in response.   Military Escalation    Israel said it targeted a large network of military bases in Iran, with Iran responding by launching a large flock of anti-Israel drones.    Despite the attack, US and Iranian officials are still scheduled to talk in Oman on Sunday to discuss a nuclear deal and stop Iran’s uranium enrichment.    Dollar Regains Haven Status    At…

Catch up on some of SCMP’s biggest China stories of the day. If you would like to see more of our reporting, please consider subscribing.1. ‘Elephants trampling on global trade’: EU sidelined by US-China showdownOver two rounds of high-stakes talks on European soil, Europe has watched from the sidelines as the US and China tried to reach a truce that might stabilise the global trading system on which the continent is entirely reliant.2. Chinese citizens in Iran, Israel need to prepare for attacks, embassies warnThe Chinese embassy in Israel warned its citizens on Friday morning to take safety precautions for…

My top 10 things to watch Friday, June 13 1. U.S. stocks are pointing to a lower open following news that Israel struck targets in Iran overnight in what Israel is calling a preemptive strike. Oil, on the other hand, rose: Brent crude futures and West Texas Intermediate crude futures both jumped more than 8%. Gold is also up, adding to its recent gains. 2. American Electric was initiated with an outperform rating and $115 price target at Raymond James, which said it stands out as one of the largest electric utilities in the U.S., with lots of potential to…

KYIV, Ukraine (AP) — Ukraine has repatriated more bodies of fallen soldiers in line with an agreement reached during peace talks in Istanbul between Russian and Ukrainian delegations, Ukrainian officials said Friday. Ukraine’s Coordination Headquarters for the Treatment of Prisoners of War said in a statement that Russia returned 1,200 bodies, and “according to the Russian side, the bodies belong to Ukrainian citizens, in particular military personnel.”The repatriation of the bodies was carried out with the help of Ukraine’s Armed Forces, the country’s Security Service, the Interior Ministry and other government agencies. Forensic experts will now work to identify the…

It was just another long and languorous summer afternoon for Chirag Patel at his mobile phone retail shop near Ahmedabad’s airport on the outskirts of the western city when he was greeted by a shocking sight in the sky – a massive Air India plane was plunging towards a building.“We are used to seeing planes taking off or landing at the airport, but I was horrified to see one heading right at us. The plane’s tail struck a building that houses a student hostel and got stuck. The front portion broke and, after falling down, skidded for a few metres…

Sindh Chief Minister Syed Murad Ali Shah, while unveiling the annual budget in the assembly, presented the Annual Development Programme (ADP) for the fiscal year 2025-26 with a total outlay of Rs1.02 trillion. The provincial ADP is set at Rs520 billion, complemented by district ADP, foreign project assistance (FPA), and federal PSDP grants. “This ambitious development plan focuses on rehabilitation, infrastructure, social services, and sustainable growth across the province,” the CM House said in a statement. Highlights of ADP 2025-26 Provincial ADP: Rs520 billion District ADP: Rs55 billion Foreign Project Assistance: Rs366.72 billion Federal PSDP: Rs76.28 billion The ADP and…

Sindh Chief Minister Syed Murad Ali Shah presented the provincial budget for the fiscal year 2025-26 on Friday. The budget size for FY26 is set at Rs3.45 trillion, representing a 12.9% increase compared to the estimated Rs3.05 trillion for the previous year (2024-25). “This budget will play a key role in unleashing Sindh’s untapped potential,” Murad Ali Shah said. “It prioritises inclusive, sustainable, and robust development.” Key highlights of Pakistan budget for 2025-26 The chief minister expressed commitment to social improvement, modernisation of infrastructure, and economic independence. The provincial government allocated Rs1.02 trillion for development in FY26. Salaries and pensions…