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Kevin Hassett, director of the National Economic Council, is seen by prediction markets as the frontrunner to replace Federal Reserve Chair Jerome Powell.   Bonds have long served as a stabilizing force for investors, offering diversification and protection in periods of equity volatility. But that role could come under threat — however unlikely — if President Donald Trump selects his top White House economist, Kevin Hassett, to lead the Federal Reserve.   Lawrence Gillum, chief fixed-income strategist at Charlotte-based brokerage LPL Financial, warns that a Fed under Hassett might prioritize economic growth over price stability. Such a shift could unanchor…

A dating platform in Brazil that markets paid encounters with Korean men styled as K-drama “oppa” is under investigation for sexual exploitation, with the South Korean consulate in Sao Paulo appealing for potential victims to come forward.KDramaDate advertises itself as a service that lets women “relive the magic of K-dramas”, offering curated outings with Korean men at cafes, barbecue restaurants and popular city landmarks. One package includes what the site describes as an “intimate experience” in a motel or at the client’s home.The consulate confirmed in late October that it had identified victims linked to the platform and had escalated…

A new Chinese AI system called Wen Dao – billed as the world’s first such model to be designed explicitly for ethical risk detection – has landed in the middle of its first major moral dilemma.Effective January 1, an amendment to the law known as Article 136 will mandate the sealing of records of administrative penalties for drug use, barring access by schools and employers.The change has been framed by supporters as rehabilitation but critics have condemned it and warned that the leniency it provides risks weakening anti-drug enforcement and invokes painful historical memories of the Opium War.Enter Wen Dao…

NEW DELHI (AP) — Russian President Vladimir Putin landed in India Thursday on a state visit aimed at bolstering bilateral and economic ties between the two countries.Indian Prime Minister Narendra Modi received the Russian leader at an airport in New Delhi, giving a bearhug and a tight handshake with the gusto of an old friend.Modi will host Putin for a private dinner tonight at his decked-up official residence.On Friday, the two leaders will hold talks as part of the 23rd India-Russia Summit and discuss deepening economic cooperation, mainly in defense, energy and the mobility of skilled labor.Putin’s visit comes at…

Last year, Mutalib Uthman was forced to look on helplessly as his house burned to the ground and all his possessions were incinerated in a wall of flames and thick, black smoke.The book publisher from Selangor said a faulty fuse box on the lower floor sparked the blaze inside his home in Bandar Baru Bangi. His two-storey house in the town near Putrajaya was destroyed quickly despite a neighbour trying to help with a fire extinguisher.“The box was inside the store room, which was full of unused items,” he told This Week in Asia. “The fire fell onto some of…

After months of delay, the National Finance Commission (NFC) met on Thursday, marking a critical step toward initiating formal negotiations for a new revenue-sharing arrangement between the federation and provinces. Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb is chairing the session. In his opening remarks, the finance minister thanked the chief ministers, provincial finance ministers, secretaries, and other members for attending the inaugural meeting. “Today’s meeting is both a constitutional responsibility and an important opportunity for mutual cooperation,” he said. NFC meeting today: New revenue sharing plan on the table He said that Prime Minister Shehbaz Sharif personally…

The federal and provincial governments unanimously decided on Thursday to initiate the formation of technical sub-groups that “will undertake work on specific mandates relevant to the NFC’s functions”, the Finance Division said in a statement. The decision was taken in the inaugural meeting of the 11th National Finance Commission (NFC) chaired by Finance minister Senator Mohammed Aurangzeb at the Finance Division. The maiden meeting, originally slated for August 28, was deferred at the request of the Sindh government owing to the province’s flood-related emergency. The NFC Secretariat subsequently rescheduled the session. The commission discussed “the proposed schedule and timeline for…

Backed by a booming tech sector and surging asset prices, the wealth of mainland China’s billionaires jumped 22.2 per cent year on year to US$1.77 trillion in the 12 months to early April, according to the report published on Thursday.With 70 new entrants, mainland China’s billionaire count rose to 470 from 427 – second only to the United States globally.Hong Kong’s billionaire population reached 76 in 2025 after five people joined the list and three dropped out. The city’s ultra-rich held US$328 billion in total wealth, up US$2 billion from last year.A Mixue shop in Hong Kong. Brothers Zhang Hongchao…

Two Pakistanis – Salman Habib and Hassan Chaudhry – are among 600 people featured on the Forbes ‘30 Under 30 United States 2026’ list, spotlighting America’s brightest young entrepreneurs. Habib was honored in the ‘Transportation & Aerospace’ category. He is the co-founder and CEO of Burq, which enables businesses to offer delivery without the need to invest in building up its own infrastructure. Founded in 2021 by Salman and his older brother Shaban, the company has created a nationwide delivery network consolidating over 500 providers, including Uber and DoorDash, across more than 4,000 U.S. cities, according to Forbes. The company…

With their domestic profits narrowing and production capacity expanding, China’s firms are continuing to widen their overseas footprints in search of new, more lucrative markets. In this series, we examine China Inc.’s next phase of “going global” and the complex, challenging international environment its companies have chosen to enter.The “Made in China” label has evolved considerably in recent decades. Mostly found affixed to low-cost goods of relative simplicity in China’s early years as a manufacturing powerhouse, it can now be seen on a multitude of sophisticated, high-value products from an array of companies that have become formidable competitors to some…