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WASHINGTON (AP) — President Donald Trump on Wednesday offered an ambiguous initial response to Russia’s drone incursion into Poland’s airspace, a provocative act by Moscow that has put the United States’ NATO allies in Europe on edge.“What’s with Russia violating Poland’s airspace with drones? Here we go!” Trump posted on his Truth Social platform late Wednesday morning, nearly a half-day after Poland announced that several Russian drones entered its territory over the course of many hours and were shot down with help from NATO allies.White House officials did not immediately respond to queries about Trump’s cryptic comments about the incursion.…

A top loader moves a container at the Fenix Marine Services terminal at the Port of Los Angeles in Los Angeles, California, US, on Friday, Aug. 15, 2025. Bloomberg | Bloomberg | Getty ImagesTypically, this is the time of year when shipments into the U.S. are peaking ahead of the holidays, but 2025 is a different story. As Chinese exports continue to plunge, overall freight trade to the U.S. has slowed to a crawl.Imports from China have faced three straight weeks of 27% year-over-year declines, according to data from Vizion, and the latest ocean freight bookings data shows that a…

The federal government has decided to lift the long-standing ban on new RLNG-based gas connections while also declaring nationwide climate and agriculture emergencies to deal with the fallout of recent floods, Radio Pakistan reported. Minister for Petroleum Ali Pervaiz Malik on Tuesday said that gas companies have been allowed to accept applications for new RLNG connections, ending the moratorium imposed in 2021. He noted that RLNG would offer a relatively affordable option to consumers, being 30 to 35 percent cheaper than imported LPG. Consumers who have already applied for gas connections may opt for RLNG by paying the requisite security…

Asset prices reflected an optimistic mood on Wednesday, as Bitcoin (BTC) regained the $112,000 level, trading at $112,366.98, while European stocks opened higher, with analysts increasingly emphasizing that the odds of recession or stagflation raised by the shocking US jobs data are receding.   The US Bureau of Labor Statistics (BLS) published a striking update on Tuesday, showing that the economy likely added 911,000 fewer jobs than previously reported over the 12 months through March 2025.   For much of last year, equity and crypto investors bet that a strong labor market would keep the economy on track despite persistent…

China is closely monitoring social unrest in Nepal, a strategic partner and key point in Beijing’s global infrastructure and investment initiative, following the resignation of prime minister K.P. Sharma Oli.Observers warned that Beijing should be prepared for further instability in the region, citing weak governance and potential external influence in political transitions.The unrest was initially triggered by a social media ban last week, and soon grew into a wider anti-corruption movement aimed at the country’s decade-long governing establishment on Monday.Just days earlier, Oli had made a high-profile trip to China, holding talks with President Xi Jinping and attending the Shanghai…

The National Logistics Corporation (NLC) and DP World on Wednesday signed a commercial agreement with Pakistan Railways for the construction of Phase-1 of the Dedicated Freight Corridor (DFC) at Pipri, according to a press release. Federal Minister for Railways Muhammad Hanif Abbasi witnessed the signing ceremony, which was also attended by senior officials from NLC, DP World, the Special Investment Facilitation Council (SIFC), and Pakistan Railways. The project, involving foreign direct investment of around $400 million, aims to significantly boost Pakistan Railways’ freight-handling capacity by enabling faster movement of cargo to and from Karachi Port, while easing congestion on roads…

In a statement on Wednesday, the Shanghai-based carmaker said 181.8 million new shares would be issued, which would be allocated between its American depositary shares (ADS) and its ordinary stock.Nio is listed in the US, Hong Kong and Singapore. Investors can subscribe to the ADS, to be traded on the New York Stock Exchange, or to ordinary shares in Hong Kong and Singapore.The share placement was expected to net slightly more than US$1 billion based on a price of US$5.57 per ADS, Nio said. Ordinary stock in Hong Kong and Singapore was offered at HK$43.36 (US$5.57) a share. That represented…

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. ‘It’s hard to succeed’: US firms in China report record pessimism amid tensionsAmerican companies doing business in China are more pessimistic about the next five years than ever before, in the face of rising geopolitical uncertainties, fierce competition and a chronic economic slowdown, according to findings by a prominent business chamber.2. China’s aircraft maker Comac wins one of its biggest overseas orders for C909 jetsChinese-made aircraft are set to spread their wings further in Southeast…

Kathmandu awoke to a drizzle on Wednesday, but it could not wash away the smouldering wreckage left by unprecedented arson and looting a day earlier that followed anti-corruption protests in Nepal’s capital.Fires consumed public institutions, historic buildings and private businesses – including the Supreme Court, the Singha Durbar government complex, the Kantipur media house and a luxury hotel – as what began as Gen Z-led peaceful protests spiralled into attacks that observers fear may be part of a broader political power play.There are mounting concerns over the social and economic toll of the destruction, as confusion looms over the country’s…

My top 10 things to watch Wednesday, Sept. 10 1. The S & P 500 and Nasdaq were set for strong opens this morning, boosted by Oracle ‘s blockbuster earnings report and a much cooler-than-expected wholesale inflation report. The S & P 500 and Nasdaq were coming off record highs in yesterday’s session. 2. The producer price index for August unexpectedly dropped 0.1%, well below the Dow Jones consensus of a 0.3% increase. That is the kind of number that supports a Fed interest rate cut at its meeting next week. We’ll see what the consumer price index has in…