Justified compliments about Mr. Moore's speech have been spread extensively and appropriately in the pages of many newspapers, but I would like to remark on precisely what I think was missing in the speech. Missing, not necessarily because it's something Mr. Moore does not know, but probably missing because Mr. Moore's job and duty is to reveal not even one percent of what he knows. The author is not important. The content is.

Mr. Richard Moore's public appearance and detailed speech is not only a commendable masterpiece in itself, but every word in his speech is worth studying, digesting, analysing, and greatly appreciating, for the depth and importance of the content itself. However compliments are dangerous because they lead to complacency and overconfidence, and I believe that constructive criticism, even when unpleasant to the ears, is the practical expression of sincere caring.  

So here we are:

Mr. Moore praised the help and cooperation that MI6 is receiving from MI5. One does get the impression that these two British security bodies work with each other more fully and effectively than similar organisations in other countries, where competition, egos and conflicts of interest interfere with the cooperation that is so vital between each country's international and internal intelligence agencies. So yes, that's good.

But Mr. Moore emphasises in his speech the special importance of this collaboration in the technological age.

And this is not what I expect to hear from someone whose job it is to think ahead, with an eagle-eye view, paying particular attention to what is outside the box.


1. MI5 and MI6 unification

In my opinion, what is missing in Mr. Moore's speech is a call to unite the two classic intelligence bodies, as the sum would be greater than the parts.

The classic separation between the roles, tasks, and legal framework separating MI5 and MI6 is outdated, and is now much more harmful than beneficial. Let me explain.

Our current era is characterised by universal technology that represents more power and wealth than is held by even the largest states, and by population mass driven by mass immigration (from the Third World, EU workers and oligarchs). Territorial borders and nationalities have been rendered  meaningless, as all-powerful and all-pervasive technology facilitates the free movement of millions of people (and capital, and ideas). In the words of Thomas Friedman, "The world is flat".

It is an era where there is a complete blurring of the differences between the world of individual or organised crime, managed locally or remotely,  and the world of defensive and offensive state-intelligence. The differences are now also blurred between crime carried out by an individual, organised crime run by a mafia, and a cyber attack carried out under the auspices of adversarial or even "friendly" states.

It is an era where the electronic shutdown of critical infrastructures like electricity, or a chemical or biological attack against food or water infrastructures by a domestic criminal/terrorists/hacker, can do much more damage than ballistic missiles from foreign terrorists or countries. The new reality is that the potential damage of a single threat from inside is greater than that of an attack from an enemy or hostile state from outside.

The motivation behind an attack no longer has to be political but could just be poverty, religious, ideological or simply the extreme frustration of a lonely and talented bitter person. The boundaries between terrorism, crime and war are no longer what they used to be.

Likewise the difference in the definitions of hostile countries, friendly countries or countries that are only seemingly friendly, has become completely blurred. Defining China, Russia and Iran as the biggest threats to the UK while ignoring the conflicts of interests with the EU - as a whole and also with its parts - is not something that should be uttered by the head of MI6, or by anybody else who knows history.
The '"friendly" EU has interests which give it - and its constituent parts - reason to interfere with the UK's democracy, no less than has Russia or Iran. And the UK is not now at any level that will trouble the interests of China. Not anymore.

This is an era where offensive and defensive intelligence, external and internal, should be one. When the world is truly flat, there's no difference between looking out and looking in.

This is an era where the separation between the two intelligence bodies divides their ability to face the challenges, rather than doubling their efficacy. This is an era where the strategy of dividing the intelligence agencies does not strengthen the ability of the "system" to better control them, but just weakens their ability to operate effectively.

The good reasons to keep the two powerful and important organisations separate should be addressed differently, according to the new world, and not by dividing their intelligence capabilities and resources.

This is an age where budget, resources, knowledge, and talent need to be aggregated rather than dispersed. The chances of one team scoring two goals to win a match are greater than the chances of two separate teams scoring one goal each.

This is an age where information is no longer like wine but like milk.  Intelligence information no longer improves over time like wine, but becomes useless in a short time, like milk.The new name of the game is not quantity (that's the name of the new problem), but real-time understanding and actions.

This is an age when the name of the game is not just the fruitful sharing of information openly between intelligence organisations, but an age when intelligence collaboration is effective only when the information is fully synchronized, combined and analysed in real time. Thus, we need the internal and external arms to be working together, as one.

The huge difference between classical intelligence and intelligence in the technological age is that the challenge has long been not how to gather as much information from as many sources as possible, but how not to drown in the stormy waters of the vast ocean of information that is being collected. It accumulates in quantities far beyond the capability of computing power to be analysed effectively, and way above the capacity of decision-makers to understand meaningfully.

The challenge of the modern age is thus no longer the gathering of information, but the understanding of it. The challenge is to analyse the information, translate it into understandable form (not by AI only), and take immediate action steps (not retroactively when action is already too late).

The modern world is no longer an era in which an intelligence organisation has to guess the intentions and plans of its adversaries, but rather to shape them, influence them, and harness them, consciously and unconsciously, through Engineering Consciousness and Thoughtless Awareness.


2. Underpaid intelligence services employees


The world has changed. The outdated worldview of classic intelligence services has indeed taken a few technological steps forward, but the technological advance is nullified when it is pushing against powerful headwinds.

A dedicated, decent and talented employee in the intelligence services should no longer be considered inferior, suspicious or corrupt just because he too naturally wants to enjoy the abundance, luxuries and pleasures that the new capitalist world has bestowed upon the intelligence targets he's pursuing.

Exposure to the luxuries and pleasures of life is no longer the domain of a secret closed club. Intelligence service workers also have children, spouses, and are exposed to Instagram, TikTok, Facebook, and Mega-Malls. They are bombarded daily with news about uneducated children who have become millionaires and billionaires thanks to investing in cryptocurrencies, NFTs, or just by speculating in the stock market.

Intelligence service workers are also exposed daily to secrets which the law enforcement system itself does not expose.

They are exposed to governmental corruption, which is blocked from being investigated and exposed by the law enforcement system. Corruption that has long become the norm in public service and the political systems of the developed world. Corruption that no one really bothers to hide too much, but on a scale that can no longer be hidden from government intelligence agencies.

The UK's intelligence services are also partners in seemingly commercial technology and financial ventures, led by - more or less - friendly intelligence services. These ventures, which are supposed to look like completely commercial businesses, have greatly enriched the many thousands of junior and senior employees of these semi-commercial-companies, employees who are in fact civil servants. But they are civil servants who are enjoying a life of luxury, abundance and unprecedented wealth.

All this creates a natural, human desire in every employee in the intelligence services, as for any humble person with worthy values, to provide for themselves and their families the highest standard of living possible. And they can see what is possible from the extravagant lifestyles of their lucky "commercial" colleagues, and of the corrupt public servants whose offences are covered up and granted immunity by the law enforcement system.

The modern intelligence services employee deserves and is entitled to enjoy the luxuries that are available not only to a small, exclusive, secret elite as in the old days, but nowadays also to the masses. The intelligence service employee does not deserve to be excluded from the luxuries and comforts that have long been the norm for the new middle class.

To want to enjoy the pleasures of life like any normal person does not disqualify a person from serving his country, and to do so is not in conflict with the dignity, integrity and loyalty expected of members of the intelligence community.

It is dangerous to ignore this new reality of modern market conditions, and foolish to shy away from refreshing the business model under which intelligence workers are employed. Without the incentive and stimulation of a technology-era business model,  the most talented workers - and also the middle-talented - will look elsewhere for better remuneration and job satisfaction. At best they will look to America, but most likely to Asia. And from there it's an extremely short road to serving China's interests through a Chinese-controlled company.


3. The case of Hong Kong, and Taiwan


What i am going to say here might sound controversial, but not to honest people and independent thinkers.

The words that bothered me the most in the speech were Mr. Moore's remarks about Hong Kong.

It is true that the role of the intelligence chief is to lie, but it should be done in such a way that the audience doesn't get the impression that they're regarded as stupid.

Contrary to cheap propaganda and the UK's national weakness of describing whatever it doesn't like by its own double standards, Hong Kong was never a democracy. Not when Britain ruled it too. Never.

In fact, since the Hong Kong Special Administrative Region was freed from British occupation and returned to the ownership of its motherland, China has allowed it to have even more independence and autonomy than it had when it was ruled by the un-elected, external, foreign British Governor.

Since Hong Kong was freed from British rule, it has become richer, more modern, much more developed, and with far fewer colonial rules and regulations. Numbers are not like spies. They do not lie.

China never over-interfered with Hong Kong's independence until masses of brainwashed schoolchildren violently attacked the fabric, infrastructure and authorities of Hong Kong. For one whole year, they committed shocking acts of terrorism, explosions, arson, sabotage, wounding and killing innocent people along the way, with the support and encouragement - that's an understatement - of Britain and its partners.

The British and their allies continue to support the revolt, demanding that China be forced to withdraw from the territory, and allow Hong Kong total independence and democracy.  This British push for Hong Kong to secede from China, its original homeland, is of course contrary to the agreement signed with Britain for the 1997 handover.

What did China do in Hong Kong before - or even after - the rebels initiated daily terror attacks that the UK does not do every day in Scotland, Wales, and Northern Ireland? What are the exact freedoms that Britain allows it's occupied territories that were missing in Hong Kong?

What would have happened if China had encouraged murderous acts of terror that lasted an entire year in London, demanding that Britain be forced to allow Scotland, Wales, and Northern Ireland to become absolutely independent, full democracies? Not forgetting the Falklands, the BVI and the other Overseas Territories in the "Commonwealth" (an interesting coagulation where the White British Wealth is not so common).  

I have no problem with propaganda and lies emanating from intelligence people. Misinformation and disinformation are a vital part of the intelligence community's toolbox, and have been since biblical times. But I have concerns when high-level intelligence officers appear to believe in the nonsense they feed the masses.

This self-delusion leads to intelligence disasters of the kind that led to Britain waging a massively destructive war in Iraq based on fake reports, and then to Britain staying twenty years too long in Afghanistan for no discernible benefit.

Hong Kong is part of China. And Taiwan is as well. Just as Florida, Texas, California and New York are all integral and indivisible parts of the United States of America, despite however many voices might seek to disengage their home neighbourhoods from their Homeland.

When the Southern States of America sought to break away from the Northern States a terrible civil war broke out, until the common interest of being united finally prevailed, to the benefit of both sides. Any lingering dissatisfaction, distrust and discrimination belong to the rich and complex history of the United States, but they do not alter the the reality that America is one single, indivisible Union.

I have no idea if China will take over Taiwan in a military operation and I hope not. I believe that China will succeed in achieving reunification peacefully, through patience, a successful economy and through sophisticated intelligence.

But, if I was in the shoes of a Western intelligence chief, instead of wasting my energies and resources to convince the Chinese population of Taiwan that they are not Chinese, I would first take care of Western interests in Taiwan.  And it would be better to do so now,  before it's too late.

Taiwan is the largest chip-maker in the world. The entire world economy depends on their sophisticated chips. Western intelligence must concentrate its efforts on transferring knowledge and production to safer, stronger and more independent countries, such as Thailand or Vietnam, Serbia or Israel, or the Gulf states. Or better still, to cover their bets by building expertise and capacity in all of these countries combined.

Presumably, without the chips, the Chinese interest in uniting with Taiwan will also become less urgent.

The Taiwanese will no doubt feel offended that they've been cast adrift by the West. Instead they should reflect on how lucky they are that the West abandoned them before and not after they became like Iraq, Libya and Afghanistan.


4. China, Russia, Iran and the old-fashioned way of thinking


Mr. Moore's unique personal background gives him a priceless perspective to appreciate the history, culture and qualities of Russia and Iran, and not only as adversaries.

However, the part of the speech condemning China for becoming a surveillance country is very embarrassing when it is delivered in London, the surveillance capital of the world. The UK has more surveillance cameras per capita and per square meter than China or any other totalitarian country worldwide.

As to the part in the speech condemning China and Russia for persecuting journalists, exposers of corruption, and political opponents, I would recommend he include an official public apology for the misuse of the UK intelligence services and the corruption of the UK justice system to persecute journalists and exposers of Western corruption such as Julian Assange and Edward Snowden, and for the operation of secret jails without trials in Third World countries. Let us make sure we are not pointing our own very dirty fingers at the wrongdoings of others.

Moreover, the rampant success of China or Russia doesn’t mean this success is at Britain's expense. Quite the opposite.

It is time to realise that technology has generated advances far beyond the consumption capacity of all mankind. That today many more people die from obesity rather than hunger. And that today's advanced production capacity allows many countries to get rich while enriching other countries - without stealing anything from them, but instead inspiring and advancing them.

It is certainly true that, at the beginning of the economic miracle, China stole technologies from the West, before it attained a much higher technological capability that the West can now only dream of.

But it is worth noting that this is only the beginning of the second chapter. The first chapter was when the West, with Britain in the lead, got very rich by robbing China and India and making them the poorest countries in the world.  And when the Western colonial powers used imported slave labour, often from the Third World, to build their empires (slave labour for which they still have not paid).

This is not to say that Britain's sins are any greater or smaller than those of the countries it criticises.  But it is to say that we should stop the hypocritical blame game of high-lighting the past sins of others as if Britain and America do not have much darker pasts of genocide, robbery, rape, racism, opium-trading, slavery, exploitation and extortion. It’s time to move on and put the dark past of all where it belongs: in the past. There is much in British history not to be proud of, just as there is much in the histories of China, Russia and Iran, which is severely under-appreciated.

It is patently obvious that we cannot claim anymore that we are "better", or that their wrongdoing is "worse". It’s not.

It’s time to move forward into a world where we unite and combines forces to deal with the common challenges facing all countries. Existentialist challenges such as climate change, epidemics and viruses, managing space exploration, and, one day soon, dealing with aliens.

Challenges that will never be solved without the  full and absolute cooperation of the whole world as one.


5. The failure by MI5 and MI6 to protect the most strategic asset the UK had: ARM


Its name may not be as famous as Qualcomm, Intel, Apple or Samsung, but what used to be the British micro-chip company ARM is actually the primary driver of chip design in the world. ARM provides the core design for the powerful chips we see on smartphones, surveillance cameras and many other smart devices today.

Allowing the industry-leading technology player ARM to fall into Chinese ownership was a serious strategic failure by MI5 and MI6 put together. It was a far worse failure than losing nuclear-bomb technology in Iran or inadvertently "mis-placing" it in Afghanistan.  

The disastrous outcome is not only proof that the current mode of collaboration is ineffective, but that what is missing is the understanding that "the world is flat" and adapting the modus operandi of the intelligence services to take account of it. To understand that they must defend the national interest, whether it's about the flogging off of yet another bust football club to adversaries with dubious sources of wealth, or to prevent the fire-sale of structural, viable, flagship brands such as Jaguar or Mini.  To recognise that the flat world of the global economy means that any sufficiently-funded third party can at any time buy the UK and all its assets (and everyone of its greedy leaders, for much less then the Chinese paid to buy Hunter Biden and his connections).

Letting ARM, the UK's only real tech-champion, pass into foreign hands - friendly of not - was an abject failure to defend local/national strategic interests, because of outdated, blunt intelligence practices in the sharp new world of global capitalism and economic (belt and road) occupation.

There is no need to go into more detail, or cite more examples. The global economy has created challenges that blur the internal and external strategic intelligence approaches, tasks and needs. They must be brought back into clear focus, and Mr Moore and his MI5 peers have to be the visionaries who oversee that.


6. "Protect me from my friends, I can take care of my enemies"


Another missing elephant  in the room is the danger of "friendly" countries or corporate entities undermining the UK's economy and its political independence.

Germany, France and USA are important allies,  but they are also a greater danger to the UK’s independence and economy than China, Russia and Iran combined.

Every speech emanating from the EU sounds increasingly like the Supremacist Dictator Adam Sutler speech in the the movie "V For Vendetta".

Though no one cares to admit it - least of all the security services - the U.S. tech giants control the UK's democracy, or whatever the UK describes as democracy. Likewise the UK population and economy is controlled by superpowers such as Google, Facebook, Apple, Microsoft, Intel and a few other lesser-known but no less dangerous companies.  None of these superpowers - most of them much larger than medium-sized national economies -  are British, and all of them are "friendly within limits", and with transparency of operations that is selective and conditional on their own commercial interests, political agendas and foreign intelligence controls.

While the intelligence services are fully focused on protecting the UK from its acknowledged adversaries (enemies that the UK created, not its natural adversaries), no one is protecting the UK's democracy and economy from its much more dangerous friends.


7. Iran's nuclear programme.


Politically, economically and militarily, the West is doing everything conceivable to justify Iran's need to have nuclear weapons. Like most rational people, I agree that Iran should never have nuclear weapons, just as the US and the UK  - and the rest - should not hold doomsday arsenals of  "prohibited" mass destruction weapons. Weapons of mass destruction are dangerous, whether in their hands or ours or in any others'.

The way to dissuade Iran from its path towards nuclear capability is by paving the way to convince the Iranians that the West is not trying to rip them off. That we are not trying to manipulate them into changing their political system, to steal their oil, and to subjugate them under the West's other oft-deployed larcenous behaviours (sorry, that should read "trade agreements").  

But it is difficult to convince Iranians to give up their nuclear programme, as they recall what happened to Gaddafi when he folded under Western pressure and peacefully gave up his missile programme. His miscalculation in following pressure from the West to emasculate his military power cost him his life and condemned his country to a blighted future. An ignominious death for him, and a humanitarian disaster for his devastated country. Likewise, it is difficult to persuade Iran to refrain from developing weapons that Saddam Hussein refrained from developing. Because they can see that Iraq is another country that became much more miserable after the West destroyed it ... in order to bestow upon it the blessed enlightenment of "democracy".
 

8. Afghanistan.

Mr. Moore describes the fact the Britain and its allies lost the war in Afghanistan as a "moral win" for the bad guys in Afghanistan, and encouragement for all the other bad guys around.

No.There is much wisdom in the words of Friedrich Nietzsche: “Those who have a 'why' to live for, can bear with almost any 'how'.”

What happened here is yet one more proof that people fighting for their values and principles in their homeland will beat a better-equipped army fighting without  justification to be in a territory that the UK had nothing to do with from the beginning. It is a lesson to learn from (though the British seem not to have learnt much from their previous three Afghanistan lessons). Don’t ever start a war without an exit plan, and don't start a war until it's the very, very last option.  Don’t resort to the default of crying "Wolf! Wolf!"  and threatening military intervention every time that China, Russia or Iran does something independent from the West’s "instructions".

Put into other words, the message for Britain, its Parliament, and its well-regarded MI6 is: mind your own business. Make Britain great again. Not by trespassing on others’ territory,  but by better education, healthcare, innovation, production, justice, equality and climate responsibility in your own.

The first priority is to take good care of your own problems. By trying to fix those of others you may protect Taiwan, Hong Kong, Ukraine and Palestine at the expense of saving your own country, economy, society and democracy from its inevitable, internal collapse.


9. Lead, for a change, by example


The ninth issue is the hope that one day you, and when I say you, I mean Britain and the whole of the Western world, will finally wake up and decide to Lead by example, for a change.

Blaming the messenger by saying that your adversaries are "undermining the trust in your political systems  and institutions" sounds so pathetic… it would be much more beneficial for the UK to start fixing what is so obviously wrong in your own un-trusted political systems, in your crumbling institutions, in your fake news on mainstream media, in your corrupted justice systems and in your collapsed democracy ("democracy"? hah hah).

We live in an era when the only head of states that deserve the title “Leaders” are not Western: China's President Xi Jinping, Russia's president Vladimir Putin, and the UAE's Bin Zayed family.

Like them or not, agree with them or condemn them, but they are real leaders who have revolutionized their countries, uplifted their people and stood up for something. Whatever they promise, they deliver.  In contrast, the vaunted leadership of the West is just a joke. Whether it's Boris Johnson, Biden, Trump or Macron - they are just un-trusted and untrustworty, low-level, two-bit politicians with nothing to be proud of. And it’s not about political opinion, as their competitors in opposition are no better and in some cases even worse. Simply put, the West has no leaders, only low -level politicians.

So no, Mister Moore. Your adversaries do not undermine the trust in your democracy and institutions, they just amplify the wrongdoing when you try to hide the filthy laundry at home by pointing your dirty fingers at others.

It sounds all very worthy when you condemn the persecution and arrest of  journalists, whistle-blowers and political opponents in Belarus, Russia and China. But think for a moment of what is going on back at the ranch, with your esteemed UK politicians and dignified dignitaries.

How about the scandals from your Right Honourable MPs Raab, Hancock, Williamson and CummingsHow about the Peppa Pig Prime Minister pantomime, and the cocaine-sniffer dogs in the Mother of Parliaments? The Middle East Bazaar for Royal Honours? The malicious targeting of the BVI with a laughably fake and corrupt Commission of Inquiry? While we’re off-shore, what about the billions of pounds of Royal and Parliamentarian assets squirreled away in Panama Paper accounts? And not forgetting Britain’s own long-running saga of shame, the 11-year hounding of  the journalist and publisher who heroically  exposed war crimes, Julian Assange? A scandal not yet running for quite as long as the Dreyfus Affair, but destined to have a similar ignominious outcome for all those lined up with the forces of darkness.

So Mr Moore, why should you care about Britain’s external enemies? Why not close MI6 down for a month, and open up a cleaning company? 

Then hose out the Whitehall stables, sanitise the Westminster dirty laundry, boot the Pharisees out of the City, hoover up the Number 10 coke, and shine a little light disinfectant on the Assange Affair.


10. Why there is no British - or European - Facebook, Google or Apple?

The development bug is in the old-fashioned colonial mindset, and that’s why British tech companies are way behind the market, and have never produced a mega-success.

Technology companies in the UK are limited and amateurish compared to those in the United States. Britain, like other Western European countries,  runs on the principle of maximising taxation on the working classes, first to finance the pleasures of the lazy elite, and second to finance the parasitic bureaucracy that serves the interests of the elite. These under-performing "First World" (hah, hah) countries then compound their folly by  implementing a ridiculous degree of over-regulation and taxation that stifles most innovation at birth and keeps those start-ups that do make it past infancy in a state of permanent oxygen deficiency.

The British tradition is to protect the status quo, while the American tech giants never stop disrupting it.

The British remain a society with a colonial-mindset, where their capitalism is premised on the false belief that one man's profit must be another man's loss.

American capitalism, on the other hand, is based on a win-win formula, whereby the rich get filthily richer by significantly uplifting the earnings of the working class and the middle class.

No one would claim that American Capitalism is perfect. And no one should decry the value of the  British systems of Education, Healthcare and Social Benefits. But no one could claim that in Britain culture and innovation go hand-in-hand. They simply don’t fit together. Not anymore.

The UK today is a destructively divided society, with the fault-lines driven deep by the twin evils of over-taxation and over-regulation. (And by the way, those two societal viruses are particularly British, not at all Chinese.)

The time is over for deflecting blame by deploying the traditional British technique of pointing fingers at others instead of admitting the nation's own faults.  China is taking over the world not because they're actively targeting Britain, but because they're pushing themselves forward while Britain is busy blaming others while taking no responsibility for its own future.

In truth, Britain is not an attractive place for start-ups, innovators, talented immigrants, or even for the new and the next generation. Conversely - or stupidly, you might say - it attracts too many poor and unqualified immigrants that have no better choice in life (often because Britain and its allies destroyed their homelands). Importing these poor people is the first step in manufacturing state poverty, which has ended up dividing and poisoning the UK from within. This dreadful outcome is far from the British government's deluded dream of "startups, technology and innovation".

There is a yawning chasm between the awesome dream and the awful reality, and the British people are culpably complacent in not recognising it. This failure of the British public to see the blinding obvious cannot be excused or explained by their successive governments putting an impossibly rich gloss on the techno-hype, or by their much-lauded (now derided) mass media talking up "tech success stories" which would not get a column inch in Chengdu. Even when you are being mis-led and mis-informed, or especially when that's happening, it's necessary to fully understand where you really stand.

Likewise, while Mr. Richard Moore brilliantly defines the problem, he seems not to recognise that the major enemy confronting his wonderful ideas lies within. And that the enemy within is much more dangerous than China, Russia or any other external factor.

The only way to fight terror effectively is simply to stop creating enemies.

The only way to enrich society - while keeping the fat, lazy elite doing nothing productive - is to give innovators in Britain their head and give their start-ups every encouragement to take off. This means without interference from the obtuse regulators protecting the status quo, and without the malignant tax system killing off seed money before any good ideas can fly.

The first task of the CIA is to protect the US Dollar; the second task is to protect the US economy.

What is MI6 doing to protect the Pound, and to enrich the mass population of the UK?

Britain's leaders must stop selling the past. The British people must stop believing in it. (It has as much shame as pride in it anyway.) Britain must start building the future. Its people must step up to the brave new world. With confidence, and courage and alacrity. From scratch. To enable startups framework, without the lawyers, without the accountants: they're the parasites that suck the blood from the host. Without the taxes: they suck the oxygen from the lungs.  Without the takers: they sap the drive from the doers. Startups are like cows that give much more milk then meat. Nine out of ten will fail and that’s absolutely acceptable. Failure is not the opposite of success; it is the stepping stone to success. What should be locked down in UK is not the people but the miserable Mea Culpa culture,  which stands in the way of  innovation, enlightenment and progress. Stop punishing, fining and killing startups for their failures; no baby ever walked a first step before falling many times first

I am not saying that you should copy the US system where the Big Tech behemoths are absolutely above the law and use the US Constitution as toilet paper. However, in order to unleash the great British potential, you must adopt the "loving-mother" state of mind and forgive startups for pushing the boundaries and being naughty, because that’s exactly how you get to make the great leaps forward, by “moving fast and breaking things”.

The new reality is that you are not able to keep buying your enemies with money. They are richer than you. You can not seduce them with beautiful girls, because their girls are prettier. And you are not able to threaten them with sanctions, because your financial, regulatory and enforcement systems are effective only against your own poor people, and against your own economy.  They are not effective against those who have acquired the loyalty of your gatekeepers and watch-dogs, or have paid them for their blindness.

Mr Moore, your speech addressed many key issues forthrightly and with unprecedented clarity, and was rightly credited by all listeners in the room. But in it you neglected a number of elephants that were trumpeting for your attention. It’s time to reboot your system to be able to hear them clearly. 

The big issue is not about being more transparent in order to be able to better function in secret (but it’s a brilliant quote!).  It is about updating the role of intelligence and the way it should be functioning in the new flat world of technology, economy and political systems. 

A world where the US is no longer the Big Daddy, the UK is no longer the Big Brother, and the EU is no longer the Beloved Mother. 

A world where English will no longer be the dominant language.

A world where the white man will no longer be in power, and even further from being in the majority. A #Me3 style world where the new colorful legislators will force the white people to pay compensation for the sins of their grandparents ...

A world where TikTok has much more influence than the BBC, and where RT and Al Jazeera have much more credibility and balance then the Western mainstream media.

A world where formal schools and university education are obstacles to success, not pathways to it.

A cancel culture world where the truth and beauty of human nature is a sin; a world where justice can be bought,  just as politicians are for sale. 

A world where intelligence services' reports, assessments and recommendations no longer enjoy blind credibility, just as - unfortunately - health service recommendations for vaccines come with suspicion of conflicts of interest. 

This is the future, whether we like it or not. Avoiding open discussion of these current and future challenges, as if they do not exist, will not diminish them but rather the opposite.

The question is whether MI6 (and 5) can lose your preconceptions and traditions and re-invent yourselves to meet the new world challenges. Not only by more ramming in more technology, data or budget, but simply by reinventing the critical roles of intelligence, government and state. 

A world where cooperation between adversaries is much more important then trying (and failing) to divide and control them. (They are far too large for you to swallow anyway.)

The main job requirement is no longer to sit in your Vauxhall eyrie and tune the network in to whatever mischief they're cooking up in Dongchangan Avenue or Lubyanka Square. (And that it's no longer to have conspiratorial drinks in cozy pubs and and  discreet dinners  with dangerous women in fancy restaurants.)

The intelligence job specification has changed, much before the pandemic, to working from home, with a delivery pizza. 

Not to gather information instead of the GCHQ, but to leverage what the GCHQ gathers to actions that affect processes, leaders and decision makers far more than one-on-one meetings in pubs and restaurants. To influence more people, in less time and resources, while figuring out how they (and their domestic equivalents) are manipulating your democracy, economy, public opinions, and social stability, while they are already inside your country, inside your government, inside your home, and inside the cell phone - camera, audio and video - of everyone around you. 

Not a world that deals with guessing the future intentions of your enemies, but a world where you engineer their future intentions according to your interests.

To be part of the new world, or not to be. That is the question.







=========== PERSONAL NOTE ========================


*  Although no criticism is pleasing to the ear, the opinions above should not detract from the tremendous importance and great service that the organisations discussed provide not only for the UK but for the security and the stability of the whole world.  

I do not claim to be an intelligence expert in general or about the UK in particular. But even a broken watch is right twice a day. So maybe there are a few useful points above that are not so obvious, being hidden right under one's nose. Those smart, decent and professional people who look after our security are often so busy with urgent issues they do not have the time to look under their noses, or the luxury to think calmly outside the box.

It's much easier to criticise from a safe vantage point while living the comfortable life that these dedicated professionals allow to me and all readers than to do things in practice. So this critique should be taken in the way it was written and not as it sounds: out of admiration and appreciation, and not out of disrespect or ingratitude.

The common belief that “open source is safe because everyone can inspect the code” is misleading. In reality, most open-source projects include add-ons and components that are not open source at all — and these hidden parts can easily contain spyware, malware, and viruses. Once installed, they can take over both the user’s computer and the servers running the so-called open-source code, giving hackers full control to do whatever they want.

A newly uncovered cyberattack—one of the most sophisticated developer-focused campaigns seen in recent years—is weaponizing the daily workflow of software engineers. 

Security companies have revealed a malicious operation in which attackers insert stealthy malware into seemingly harmless extensions and open-source tools used by tens of thousands of developers worldwide. 

These extensions appear completely legitimate, yet silently exfiltrate highly sensitive data such as passwords, Wi-Fi access credentials, authentication tokens, clipboard contents, and even live screenshots taken directly from developers’ machines.


Compromised VS Code Extensions: “Bitcoin Black” and “Codo AI”

Two Visual Studio Code extensions were confirmed to contain embedded malicious components: the Bitcoin Black theme and an AI assistant tool called Codo AI. Both extensions looked fully legitimate on the marketplace and performed their advertised functions, which helped them evade suspicion and achieve wide adoption.

Once installed, the extensions deployed an additional malicious payload that continuously harvested data from infected devices. The threat actors were not content with collecting passwords alone. The malware captured real-time screenshots of developers’ screens—revealing source code, Slack discussions, credentials, internal documentation, and confidential project directories.

This level of visibility allows attackers to map entire workflows, understand sensitive architectures, and target organizations with precision.


The Attack Technique: DLL Hijacking as a Delivery Vehicle

The operation relied on an advanced method known as DLL hijacking, which abuses the way legitimate software loads system libraries.

The attackers downloaded a real, benign screenshot tool (Lightshot) onto the victim’s machine, pairing it with a malicious DLL that carried the same filename as the tool’s expected library. When Lightshot launched, it automatically loaded the attacker’s counterfeit DLL. This triggered the malware’s execution without raising suspicion.

Security researchers found that the malware collected:

  • Continuous screenshots and clipboard data

  • Wi-Fi passwords and saved wireless credentials

  • Browser cookies, authentication tokens, and active sessions (via Chrome and Edge in headless mode)

  • Information about installed software, running processes, and development tools

Koi Security reports that the attackers have been iterating and improving the operation, increasingly using “clean” and innocuous-looking scripts to blend in with normal developer activity.


The Campaign Is Spreading Beyond VS Code

While the first findings emerged in VS Code, similar malicious injections are now appearing across the broader open-source ecosystem:

  • npm and Go: Malware packages imitating the names of popular, trusted libraries

  • Rust: A library called finch-rust masqueraded as a scientific computation tool, but instead loaded an additional malware component called sha-rust

This reflects a direct attack on the software supply chain—the trust mechanism developers rely on when importing packages, extensions, or dependencies. By compromising tools that sit at the heart of software development, attackers gain privileged access to entire organizations.


Why This Threat Is So Dangerous

A single developer installing one benign-looking extension can unknowingly trigger a breach across the entire company:

  • Theft of core, proprietary source code

  • Takeover of GitHub and other cloud development accounts

  • Infection of CI/CD pipelines and build environments

  • Exposure of sensitive customer data, credentials, and internal architecture

Because development environments are privileged by design—holding secrets, tokens, SSH keys, and code—the blast radius of compromise is enormous.

Traditional static code scanning is insufficient for detecting these attacks. The extensions themselves often appear legitimate or include harmless code alongside hidden payloads. What is required is real-time behavioral monitoringcapable of flagging anomalous actions—such as a theme extension attempting to access stored passwords.


Recommended Security Measures for Developers and Organizations

To reduce exposure, cybersecurity firms recommend the following defensive steps:

  1. Enable multi-factor authentication on all development accounts, including GitHub, GitLab, cloud providers, and CI/CD tools.

  2. Verify the identity and reputation of extension publishers before installation.

  3. Avoid anonymous, poorly reviewed, or unknown plugins—even if they appear harmless.

  4. Adopt security tools that include behavioral detection, not only static scanning.

  5. Treat all AI-powered development tools with caution, especially those requesting elevated system permissions.

  6. Conduct regular audits of development environments, including browser sessions, secrets, stored tokens, and installed extensions.


This attack marks a turning point in developer-focused cybercrime. 

By targeting the very tools that developers rely on daily, attackers gain unprecedented access to the global software ecosystem. The findings underscore the urgent need for stronger supply-chain security, rigorous extension vetting, and behavioral monitoring to defend the world’s most sensitive development workflows.

Soon you may be required to present five years of social-media history, phone numbers and email addresses, the names of family members, and additional details. Various countries will begin demanding this in return from U.S. citizens visiting their territory.

According to a new initiative being promoted by the Trump administration, some travelers to the United States may be required to provide details of their social-media activity from the past five years as a condition for receiving entry approval.

The proposal, published in the Federal Register by the U.S. Customs and Border Protection agency, stipulates that visitors from countries participating in the Visa Waiver Program will be required to provide additional personal information when completing the online application.

The requirement is intended for users of the ESTA system, which is used by citizens of 42 countries to enter the United States for less than 90 days without a visa. These countries include the United Kingdom, Israel, Australia, New Zealand, Japan, Qatar, and various European nations.

Currently, ESTA applicants must enter basic details such as passport number, date of birth, and criminal history. The proposed change would add a requirement to submit social-media account history, along with other information considered relevant, including phone numbers and email addresses from the past five years, as well as details about close family members: names, dates of birth, places of residence, and phone numbers.

The option to add social-media details has appeared on the form since 2016 as a voluntary field. According to the Customs and Border Protection agency, applicants who do not answer the question or who do not have any social-media accounts may still submit their application without it being interpreted negatively.

Why is Washington fixated on threats overseas while open acts of betrayal are being declared—live and unashamed—by its own elected officials?


Semi-submersible vessel seized mid-Atlantic in international operation targeting cocaine trafficking to Iberia and beyond
In a coordinated maritime operation this November, Portuguese authorities intercepted a semi-submersible “narco-submarine” in the Atlantic Ocean carrying approximately 1.7 tonnes of cocaine destined for the Iberian Peninsula and wider European markets.

The seizure was carried out by the Portuguese Judicial Police (PJ) in conjunction with the Portuguese Navy and Air Force, with operational support from the United Kingdom’s National Crime Agency (NCA), the U.S. Drug Enforcement Administration (DEA), and the Lisbon-based Maritime Analysis and Operations Centre – Narcotics (MAOC-N).

The vessel was intercepted roughly 1,000 nautical miles west of Lisbon.

Four crew members—identified as two Ecuadorians, one Venezuelan, and one Colombian—were arrested.

After the submersible was boarded and the narcotics confiscated, authorities allowed the fragile craft to sink, citing its unstable construction and poor weather conditions.

Authorities said the drugs were intended for distribution across multiple European countries; the varied nationalities of the detainees suggest the involvement of a transnational trafficking network rather than a local operation.

This is the second major narco-submarine interception by Portuguese forces in 2025 — earlier, in March, a sub carrying around 6.5 tonnes of cocaine was caught roughly 500 nautical miles south of the Azores.

The operation underscores the growing trend among drug cartels to employ low-profile semi-submersible vessels that sail partially submerged in a bid to evade radar and aerial surveillance.

These methods form part of a broader shift in smuggling tactics, as traffickers respond to increased pressure on traditional container-ship and land-based routes.

Officials described the interception as a significant blow to a major trafficking network, but acknowledge that many such vessels likely remain undetected.

The maritime corridor between South America and Europe remains highly vulnerable.

The multinational nature of the operation — involving police and naval forces from multiple countries — highlights the necessity of international cooperation to stem the flow of drugs across the Atlantic.

As long as demand remains high and enforcement gaps persist, these maritime smuggling networks will continue adapting, testing new routes, and pushing the limits of law enforcement’s reach.

The recent bust sends a stark reminder: the Atlantic is no longer just a shipping highway — for some, it has become a freight corridor for narcotics.
Securities watchdog and exchange raise red flags over sloppy filings as over 300 companies queue to list
Hong Kong’s financial regulators have issued stern warnings to investment banks after a notable rise in poor-quality paperwork for initial public offerings, raising questions about the readiness of the city’s IPO market amid a dramatic rebound in deal flow.

Regulators flagged a variety of problems — from copy-and-paste disclosures and weak business model explanations to failure to address their own queries and overly promotional language.

The warnings, which were customised by firm, were delivered in recent days to banks active in underwriting IPOs.

The move comes as Hong Kong has re-emerged as the world’s busiest IPO hub.

Some 300 companies — most from mainland China — are listed in the filing queue.

According to one estimate, the city has raised roughly 34 billion US dollars so far this year through IPOs, surpassing New York and other global venues.

Authorities say the letters are not a penalty but a proactive reminder: they are intended to reinforce standards and protect Hong Kong’s reputation as a leading international financial centre.

Officials emphasised that they will maintain “rigorous and timely” review of listing applications and engage actively with issuers, sponsors and advisers to ensure all submissions meet regulatory expectations.

Industry participants say the surge in demand has stretched bankers thin, with many working simultaneously on multiple listings — a dynamic that appears to have compromised attention to detail.

Market observers warn that unless practices improve, investors might face increased risk, and Hong Kong’s renewed status as a top IPO destination could be challenged.

Yet some experts note that the broader listing reforms introduced in 2024–2025 — including streamlined review processes, lower public-float thresholds for issuers, and new channels for technology and biotech firms — have undeniably boosted liquidity and revitalised the market.

Regulators and market participants now face a delicate task balancing volume with credibility, as the city seeks to uphold both growth and confidence in its capital markets with 2026 on the horizon.
Recent crises and political shifts renew concerns that the city’s governing model is tightening beyond earlier comparisons with mainland China
A growing body of international analysis argues that Hong Kong’s governance has entered a new phase marked by declining transparency, weakened institutional accountability and sharply reduced public participation.

The discussion intensified following renewed criticism of the city’s handling of recent emergencies and the continuing consolidation of political control under expanded national security powers.

Observers note that Hong Kong’s political framework has shifted dramatically since the introduction of the national security law and electoral reforms that restrict candidacy to individuals deemed sufficiently loyal to the authorities.

These changes, which have effectively removed opposition representation from the legislature, have led to concerns that the city’s system of checks and balances has narrowed more severely than many expected, even when compared to long-standing governance structures within mainland China.

Public sentiment was further strained following a deadly residential fire that raised questions about regulatory oversight, emergency preparedness and the government’s responsiveness to public alarm.

Subsequent political messaging emphasised stability and security, but critics argue the reaction reflected a governance style increasingly resistant to scrutiny.

Turnout in the most recent legislative election remained historically low despite government efforts to encourage participation.

Analysts interpret the muted public response as an indication of eroding confidence in the political process and a perception that electoral outcomes carry limited influence under the restructured system.

While officials maintain that the changes serve to strengthen order and ensure effective administration, rights groups and policy experts warn that Hong Kong’s governing environment has contracted in ways that surpass earlier expectations.

The combination of stringent political vetting, curtailed civil society space and intensifying security enforcement has led some to argue that the city’s governance model is no longer simply converging with mainland norms but is developing its own, more restrictive dynamic.

The long-term implications for public trust and institutional resilience remain at the centre of global debate.
Divestment of Festival Walk office block reflects sluggish Greater China real estate market as REIT refocuses portfolio and reduces leverage
Mapletree Pan Asia Commercial Trust (MPACT) has agreed to sell its office tower at Hong Kong’s Festival Walk for HK$1.96 billion — about US$252 million — a move signalling a strategic retreat from Greater China’s depressed commercial property market.

The sale, struck at the tower’s independent valuation and to be settled fully in cash, is expected to complete by February.

Proceeds from the divestment will be used to reduce MPACT’s debt, trimming its leverage ratio from 37.6 percent to approximately 36.5 percent.

Despite the sale of the office component, MPACT will retain full ownership of Festival Walk’s retail mall, a flagship retail asset valued at HK$21.78 billion and still nearly fully tenanted.

This is the latest in a series of asset disposals by the Singapore-listed real estate investment trust.

In August, MPACT sold two commercial office buildings in Japan, continuing a pattern of capital recycling and portfolio simplification pursued by management amid economic headwinds.

Following the Hong Kong sale, the trust’s holdings will contract to 15 commercial properties across Asia, with Singapore remaining the primary contributor to net property income.

Portfolio re-shaping follows a turbulent period for office real estate in Greater China, where weakening demand has forced landlords to reconsider asset allocation and balance-sheet risk.

For MPACT — whose investments span Singapore, Hong Kong, China, Japan and South Korea — disposing under-performing offices while retaining stable retail properties may preserve income stability and reduce exposure to regional market volatility.

Investors and analysts view the sale as a pragmatic recalibration of assets rather than a distress signal.

By locking in a clean valuation and reinforcing its financial structure, MPACT appears intent on consolidating core strengths while waiting for potential recovery in Asia’s office sector.

As of March 2025, the REIT’s overall portfolio was independently valued at S$15.96 billion.

With today's move, MPACT seems to be navigating toward a leaner, more resilient mix of properties — a critical step as global economic pressures and shifting work patterns continue to challenge commercial real estate across the region.
International groups condemn prolonged detention of two veteran activists after repeated delays under the national security law
Human-rights organisations across the world have renewed calls for the immediate release of Chow Hang-tung and Lee Cheuk-yan, two prominent Hong Kong activists who have been held in prolonged pre-trial detention under the national security law.

Both were charged with “inciting subversion” in connection with their leadership roles in the Hong Kong Alliance, which for decades organised annual commemorations of the 1989 Tiananmen Square crackdown.

Chow, a respected barrister, and Lee, a long-time labour-rights advocate, have now spent more than four years behind bars as their trial date continues to be postponed.

Originally scheduled for mid-2025, the proceedings were pushed to November before being delayed again to late January 2026. Rights groups argue that the repeated postponements and refusal to grant bail amount to arbitrary detention and violate fundamental international standards.

Both defendants have challenged the charges, asserting that peaceful remembrance and public expression do not constitute subversion.

A recent appeal by Chow to dismiss the indictment was rejected by Hong Kong’s High Court, prompting further criticism from rights organisations who say the case reflects a shrinking space for civil liberties under the city’s security framework.

More than two dozen global NGOs, trade unions and advocacy networks have issued a joint statement urging Hong Kong authorities to drop all charges, quash previous convictions and release the activists without conditions.

Solidarity demonstrations have taken place in several cities, underscoring rising international concern about the future of free expression and civic participation in Hong Kong.

The calls for release have become one of the most prominent coordinated appeals on behalf of Hong Kong human-rights defenders, highlighting growing global scrutiny of the territory’s legal environment and the treatment of individuals charged under its expansive security laws.
Regional bishops convene to assess how artificial intelligence could reshape ministry, ethics and evangelism in Asian churches
Church leaders from across Asia gathered in Hong Kong this week at a summit convened by the Federation of Asian Bishops’ Conferences to explore the pastoral implications of artificial intelligence as faith communities confront rapid technological change.

The meeting — described by organisers as a first-of-its-kind gathering — aims to help churches discern how AI might influence preaching, pastoral care, evangelism and community life.

Participants addressed both the opportunities and risks posed by AI integration into church work.

On one side, speakers highlighted AI’s capacity to support ministry through tools for sermon preparation, outreach, and administration — potentially freeing pastors to focus more on direct spiritual care and engagement.

On the other, caution was urged over any reliance on AI in tasks fundamentally tied to spiritual formation, human dignity and authentic pastoral relationships.

Voices from Hong Kong churches have already raised concerns about the “AI-ization” of religion: pastors warn that while AI-generated sermons or prayers may match or surpass human eloquence, they lack genuine spiritual encounter and risk reducing worship to formulaic content.

Some believe that ministry rooted in human connection and divine guidance cannot be outsourced to algorithms.

In a plenary address at a recent global faith forum, a leading religious figure called on church communities worldwide to advocate for “faith, ethics and human dignity” in the age of AI — urging believers to shape technology’s moral compass rather than be shaped by it.

Such sentiment resonated strongly at the Hong Kong gathering, reflecting a growing conviction among Asian Christians that moral leadership must accompany technological adoption.

Supporters of AI use in churches argue the technology could help expand outreach — for example, by translating sermons, tailoring pastoral messages to diverse communities, and enabling remote ministry access for believers in isolated or restricted regions.

In societies where young people increasingly turn to digital platforms, integrating AI responsibly could help churches remain relevant and accessible.

As the meeting draws to a close, church leaders are expected to issue a collective statement outlining ethical principles and guidelines for AI use in ministry — a move some hope will influence faith communities globally.

The decisions made in Hong Kong may shape how churches balance faith and technology in the coming decade.
The Federal Reserve announced a quarter-percentage-point rate cut, from 4% to 3.75%, in one of the most complex decisions it has had to make in recent years. Many analysts expect that after this move, the central bank will take a break from additional rate cuts in the near future. Coming up: the press conference with Fed Chair Jerome Powell.


Bank foresees MSCI Hong Kong Index rising 8–25 % as improved valuations, earnings recovery and policy support fuel investor confidence
JPMorgan has projected a strong rebound for Hong Kong and Chinese equity markets in 2026, expressing optimism that recent gains could extend into the new year with up to nearly twenty-percent upside.

The bank’s analysts argue that valuations remain attractive, and ongoing economic recovery, supportive policy measures, and stabilising property-market dynamics should collectively underpin further share-price growth.

:contentReference[oaicite:1]{index=1}

According to the forecast, the MSCI Hong Kong Index — a benchmark for large- and mid-cap listed firms — could reach between 14,366 and 16,679 points by end-2026, representing an 8–25 % increase from current levels.

This outlook assumes underlying earnings growth of about six percent for 2025 and nine percent for 2026, reflecting a rebound in corporate profitability across sectors.

:contentReference[oaicite:3]{index=3}

JPMorgan’s cautiously optimistic forecast is reinforced by fresh assessments from HSBC Asset Management and UBS, which expect Hong Kong and mainland Chinese equities to maintain a recovery trajectory in 2026. They cite a combination of improved fundamentals, easing deflationary pressures and continued policy support.

:contentReference[oaicite:6]{index=6}

Market sentiment has indeed improved markedly.

After enduring several challenging years, Hong Kong stocks recouped ground in 2024 — and this year’s rally has reinforced hopes that the region may regain its status among Asia’s top equity markets.

:contentReference[oaicite:7]{index=7}

Still, analysts warn that 2026 may not be free of headwinds.

Potential risks include rising regional interest rates, lingering pressures in the property sector, and geopolitical uncertainties which could dampen investor appetite.

:contentReference[oaicite:8]{index=8}

For now, the case for continued gains appears compelling: attractive valuations, positive earnings forecasts and supportive policy measures combine to keep Hong Kong and Chinese equities on a robust growth path as markets look toward 2026 with renewed optimism.
New index tracks 100 Hong Kong-listed tech firms — a landmark step signalling HKEX’s commitment to building a vibrant, diversified capital market ecosystem
Hong Kong’s main exchange operator has introduced a new broad-based equity index, the HKEX Tech 100 Index (Tech 100), marking the city’s first domestic index focused on technology- and innovation-oriented firms.

The index tracks the 100 largest Hong Kong-listed firms across six major themes: Artificial Intelligence, Biotech & Pharmaceutical, Electric Vehicles & Smart Driving, Information Technology, Internet, and Robotics.

All constituent stocks qualify for Southbound Stock Connect, enabling access by mainland Chinese investors.

The launch reflects a broader shift in strategy at Hong Kong Exchanges and Clearing (HKEX), aiming to diversify beyond traditional sectors such as property and finance, and reinforce Hong Kong’s appeal as a centre for growth in next-generation industries.

HKEX’s chief executive described the milestone as central to the Group’s ambitions to expand its index and data business — a step toward turning the exchange into a hub for dynamic, innovation-driven capital formation.

In tandem with the index debut, HKEX has struck a licensing deal with mainland China’s E Fund Management Company Limited to facilitate creation of an exchange-traded fund (ETF) based on Tech 100.

The move is designed to open Hong Kong’s technology equity opportunity to a broader base of Chinese Mainland investors, subject to regulatory approval.

Tech 100 also incorporates a “fast-entry” mechanism, allowing newly listed companies that meet the relevant criteria to be added outside the standard quarterly review.

This flexibility aims to ensure the index remains current in a fast-evolving sector and responsive to fresh entrants.

Market watchers view the index launch as a timely response to surging investor interest in tech and AI — trends that already helped push Hong Kong’s broader tech benchmark higher this year.

The new index is expected to attract capital flows, support product development such as ETFs, and strengthen the role of Hong Kong as a gateway between global capital and China’s innovation economy.

The stage is set for the Tech 100 to become a barometer for the city’s ambition to rebrand its capital markets around technology, growth and future-oriented sectors.
Ding Shilun to donate proceeds from new painting to emergency relief as city reels from deadly blaze at Wang Fuk Court
In the wake of the devastating high-rise fire at in Tai Po, a Chinese artist has committed to auctioning a new painting, with all proceeds earmarked for the emergency response service in Hong Kong.

— whose latest watercolour, titled (2025) was unveiled this week — will sell the piece via a silent auction, donating 100 percent of the final sale price to the region’s ambulance service.

The gesture arrives amid an outpouring of relief efforts following the tragedy, which has left Hong Kong grappling with grief, displacement, and a mounting humanitarian response.

Authorities say the fire, which erupted on 26 November, has resulted in the deaths of at least 159 people and injured many more, marking the worst residential inferno the city has seen in decades.

Investigations point to the building’s bamboo-scaffold renovation and associated plastic netting and foam cladding as potential accelerants in the blaze, while rescue services and community organisations have launched a broad relief campaign.

The auction of Dawn reflects a broader wave of solidarity across the art world and civil society.

Several galleries and artists have pledged support for victims and survivors, channeling proceeds from exhibitions and donations.

Meanwhile large-scale giving has poured in: one philanthropist linked to the crypto industry announced a multi-million-dollar donation to the government’s relief fund, and companies across sectors have stepped up — contributing funds, supplies and shelter to displaced families.

For many Hong Kong residents, the combination of grassroots generosity and public-spirited art offers some solace during a period of collective mourning.

The auction — modest in definition yet symbolic in scope — underscores how cultural initiatives can complement humanitarian aid, reinforcing community bonds when tragedy strikes.

As the city marshals resources to help victims recover and rebuild, the sale of Dawn stands as a vivid reminder that art can be a vessel for compassion, solidarity and hope in dark times.
Rising rents, declining local demand and cross-border spending splurge drive wide-scale shuttering of nightlife venues
Hong Kong is seeing a wave of bar closures, as a mix of economic pressure, shifting consumer habits and competition from mainland China accelerates the decline of the city’s once-vibrant nightlife.

In recent months, dozens of bars and nightclubs have shut their doors — underscoring the harsh environment now faced by hospitality operators.

Industry insiders point first to soaring property costs.

Rent remains one of the most significant overheads for bars and restaurants, and for many venues the combination of high rent, labour costs and sluggish business has become unsustainable.

As one sector leader put it, the delta between Hong Kong’s fixed costs and actual consumer spending is too wide to persist.

At the same time, consumer behaviour has changed markedly.

Many local residents now travel across the border for cheaper dining and entertainment options, notably in nearby cities such as Shenzhen.

That shift in spending, coupled with a cooling domestic economy and weaker tourist expenditure, has sharply reduced foot traffic in Hong Kong’s bars.

Another factor is a long-term structural shift in the hospitality sector.

Data show that the number of restaurants and bars closing across the city now exceeds the number of new ones opening — the first such net decline in several years.

This contraction in the food and beverage landscape reflects a broader retreat by consumers from traditional nightlife habits.

Some bar operators also say that lingering legacy effects of the pandemic have failed to fade.

Although nightlife regulations have eased, spending patterns have not returned to pre-COVID levels.

In response, a few cocktail bars and boutique venues are aiming to survive by re-configuring their business models — leaning on creative pricing, minimalist ambience or niche offerings — but many of the older, larger establishments appear unable to adapt in time.

For Hong Kong’s nightlife scene to stabilise, observers suggest that operators will need to deliver stronger value for money and distinct experiences.

In the meantime, the wave of closures marks a significant contraction for a sector long associated with the city’s urban energy and social culture — and a sobering sign of how much the dynamics of consumption have changed.
HKEX and SFC warn of potential penalties as over 300 companies line up to list, amid signs some sponsors may be overextended
Hong Kong’s securities regulator and the city’s stock-exchange operator have issued a sharp warning to investment banks, urging them to uphold rigorous standards in initial public offering applications after a record surge in listing activity.

The statement comes as more than 300 companies—primarily from mainland China—have submitted IPO applications this year, prompting concern that some sponsors are handling too many deals simultaneously and compromising due diligence.

In a joint appeal issued last Friday, (HKEX) reaffirmed its commitment to “timely and robust review” of new listing applications, calling on issuers, sponsors and professional advisers to ensure listing materials are comprehensive and accurate.

The (SFC) echoed the call, expressing support for a high-quality and vibrant capital markets ecosystem.

Officials signalled that failure to meet established requirements could draw punitive action — including financial penalties — for sponsors responsible for substandard submissions.

Regulators noted that in past cycles they had fined sponsors for inadequate due diligence in IPOs that later underperformed or faced regulatory issues.

Market observers suggest the warning reflects anxiety that a flood of simultaneous deals may stretch underwriting banks’ capacity and pressure underwriting timelines, leading to shortcuts in reviews.

In 2025 alone, Hong Kong has already seen the single largest annual IPO fundraising tally since 2021, buoyed by a wave of mainland Chinese firms seeking offshore capital.

Analysts say the regulators’ intervention may be intended to bolster investor confidence and safeguard Hong Kong’s reputation as a leading global listing venue.

By re-emphasising quality controls, authorities aim to ensure that the recent rebound in IPO volume does not come at the expense of transparency, governance or long-term market stability.

The coming weeks will reveal whether the reminder prompts a tightening of sponsor behaviour — and whether the deluge of filings can proceed without compromising standards or undermining investor faith in Hong Kong’s capital markets.
Government proposes adoption of global crypto-asset reporting standards ahead of automatic information exchange starting in 2028
Hong Kong’s government has opened a public consultation seeking feedback on new rules aimed at tightening tax and reporting requirements for cryptocurrencies.

Under the plan, the city proposes to adopt the international (OECD)’s (CARF) and to update its existing (CRS) to include digital-asset transactions.

If approved, licensed crypto exchanges, wallet custodians and other virtual-asset service providers will be required to submit detailed transaction and account-holder data for cross-border sharing with relevant tax authorities.

Hong Kong plans to begin automatic information exchange under the new rules in 2028, as part of an effort to align with global standards and deter cross-border tax evasion.

The consultation follows a broad regulatory overhaul launched in 2025 under the so-called “Policy Statement 2.0”, in which the government committed to establishing a comprehensive legal framework for digital assets including trading platforms, stablecoins and custody services.

Under that roadmap, regulation of virtual-asset service providers has already been tightened, and stablecoin licensing rules are expected to take effect by the end of the year.

Supporters argue the proposed tax-reporting regime will bolster Hong Kong’s reputation as a transparent and well-governed international finance hub, reinforcing oversight while maintaining support for crypto-asset innovation.

They note that clear tax rules can foster investor confidence and encourage institutional participation.

However, some in the crypto community warn that the compliance burden could be heavy — especially for smaller providers — and that the ambition to bring crypto transactions into a strict international reporting net may discourage retail and overseas users.

The consultation period — which runs until early February 2026 — will be closely watched by industry stakeholders, who argue the outcome may define Hong Kong’s regulatory stance on digital assets for years.

With wealth managers, exchanges and digital-asset platforms monitoring the proposals closely, the city appears determined to balance its ambition as a crypto hub with international demands for fiscal transparency.

The next six weeks may determine whether Hong Kong sets the global standard for regulated, tax-transparent crypto trade — or shifts towards a tighter compliance regime at the risk of dampening retail innovation.
Calls increase for transparent media coverage and release of commentator amid crackdown after 159-death Wang Fuk Court blaze
The (CPJ) has urged Chinese and Hong Kong authorities to release commentator , halt harassment of journalists and permit unfettered reporting on the devastating fire at .

Wong was arrested on December 6 under sedition charges following social-media posts — the same day the region’s national-security office warned foreign media to avoid reporting that could cross “red lines” amid the disaster.

The blaze, which began on November 26, engulfed seven high-rise towers in the Tai Po district and has now claimed at least 160 lives according to official death-toll updates.

The inferno has triggered widespread anger over alleged use of flammable renovation materials and longstanding safety oversights.

As grieving families and civil society call for answers, rights groups contend that media suppression is undermining public demand for transparency and accountability.

In a public statement, the CPJ’s Asia-Pacific director described the escalation in media intimidation as “appalling and unacceptable,” decrying the use of national-security measures to silence critical coverage and deter scrutiny of government action during this tragedy.

Other human-rights organisations have likewise stressed the need for an open inquiry.

The urged the government to launch a transparent, independent investigation into the fire’s causes — and to ensure affected families receive justice.

The call follows initial inspections that revealed scaffolding mesh and foam boards used in the ongoing renovation of the complex failed to meet fire-safety standards and greatly accelerated the blaze.

Since the fire, authorities have removed scaffolding nets city-wide, arrested 21 people on manslaughter or negligence charges tied to the renovation, and launched a judge-led review of building-safety protocols.

Nonetheless, many civil-society voices see the arrest of a commentator and warnings to foreign media as a troubling sign — arguing that open reporting is essential if Hong Kong is to avoid future disasters and restore trust.

With election tensions rising, and grief still raw across the community, the demand for press freedom is growing louder.

As stakeholders wait for the full findings of official inquiries, the rights groups’ stance resonates as a call not only for safety reforms — but for accountability, transparency and the fundamental right to free expression during a time of collective mourning and public anger.
New rollout brings contactless payments via iPhone to Hong Kong merchants, eliminating need for separate card-readers
Merchants across Hong Kong can now use their iPhones as point-of-sale terminals, following the launch of in the city.

From 9 December 2025, Hong Kong joins a growing list of regions worldwide where iPhones can accept contactless payments directly via NFC — no extra hardware required.

Under the scheme, shop owners, taxi drivers, cafés and other service providers need only a compatible iPhone (iPhone 11 or later) and a supporting payment-platform app to accept payments.

The method supports contactless credit and debit cards, and other digital wallets, and works equally for large retailers and small, independent sellers.

At launch, four platforms — , , and — are certified to support Tap to Pay on iPhone in Hong Kong.

Apple emphasises the security and privacy of the system: payment data is encrypted and stored in the device’s Secure Element, and Apple does not receive or retain information about what is being bought or who is paying.

The arrival of Tap to Pay reflects a broader global expansion: since first launching in the United States in early 2022, the feature now operates in more than fifty countries and regions.

Hong Kong is the latest in Asia to gain access, following recent rollout in Singapore.

For many small and medium-sized businesses — previously reliant on dedicated card readers or terminals — the new capability promises lower costs, simpler setup and increased flexibility.

Observers say the shift could accelerate adoption of digital payments throughout Hong Kong’s retail and services sectors, while adding convenience for consumers increasingly familiar with contactless wallets and tap-to-pay cards.

For customers, payments remain as seamless as touching a card or phone to a device; for businesses, it means transforming a smartphone already in hand into a fully functional, secure payment terminal.

The rollout positions Hong Kong at the forefront of mobile payment innovation in the region as commerce increasingly embraces digital wallets and contactless methods.
Chinese e-commerce giant offers highest bid to acquire prime Central office block as seller seeks liquidity ahead of bond maturities
has submitted the highest offer for a 50 percent stake in — a 27-storey Grade-A office building in Hong Kong’s Central business district — currently owned in equal parts by and .

Reports say the bid surpasses rival offers, though exact financial terms have not been publicly disclosed.

:contentReference[oaicite:4]{index=4}

The proposed transaction is part of Lai Sun’s broader strategy to dispose of up to HK$8 billion in assets over two years, aimed at easing mounting debt pressures and avoiding refinancing risks associated with a US dollar-denominated bond maturing in mid-2026. :contentReference[oaicite:5]{index=5} The sale would also transfer a trophy-class Hong Kong property from a leveraged developer into the hands of a major mainland tech investor at a time when interest in prime Central real estate remains selective.

CCB Tower sits on a historically significant site — once home to the former Hilton (later Regal) hotel — and comprises some 229,000 square feet of gross floor area.

China Construction Bank (Asia) occupies most of the building, including its banking hall and 18 floors of office space.

:contentReference[oaicite:6]{index=6}

Although JD.com declined to comment publicly on the bid, market observers interpret the move as a strategic attempt to anchor its regional presence in Hong Kong’s financial core.

They argue that ownership of a flagship office asset could provide JD.com with a “mainland-to-international” gateway — useful for regional corporate and regulatory engagement even as it expands its logistics, supply-chain and enterprise services.

:contentReference[oaicite:7]{index=7}

For Hong Kong’s commercial real estate market — still recovering from a downturn marked by elevated vacancy and falling rents — a successful deal would signal renewed interest from mainland investors in trophy-grade assets.

For Lai Sun, the sale could relieve pressure on its balance sheet and support refinancing efforts.

For JD.com, it represents a bet on long-term strategic value beyond short-term returns.

As bidding reportedly continues, the coming days will reveal whether the transaction closes and under what terms, potentially reshaping ownership of one of Central’s iconic office buildings and offering new insights into cross-border capital flows in Greater China’s corporate real-estate market.
Trump’s latest decision to allow NVIDIA to sell its H200 chips to China may be the most important strategic move he has made (and he made a few, too few and too amazing to mention!) — and perhaps the most important one he could make — to truly make America great again.
It is refreshing to watch Washington choose intelligence over brute force.

Unfortunately, the fear remains that this correction arrived too late. Because when Biden imposed his chip restrictions, he committed the single greatest strategic mistake an American administration could make: he forced China into building its own AI chips — something China never intended to do.

Before the ban, China was perfectly comfortable relying on NVIDIA.

NVIDIA was easy to use.
NVIDIA was the global standard.
NVIDIA gave China no reason to reinvent the wheel.

But Biden, in a spectacular display of using power instead of brain, slammed the door shut — and instantly created China’s necessity.

And “necessity is the mother of invention” (Plato’s Republic).

China responded with a $1 billion prize for the first local company to build an H200-class chip or better.

Twelve companies (some are smarter and bigger and much more innovative than Apple, Google, Microsoft, OpenAI, and Facebook — Huawei, Tencent, Alibaba, and TikTok, to name a few) are now racing toward that target, powered not by the distracted, ideologically confused “woke education” dominating American universities, but by a disciplined, technically focused army of Chinese engineers — trained in mathematics, physics, architecture, systems design, and real engineering rather than the political psychology of contradicting the laws of nature, science, and facts.

And the outcome is inevitable:

China will sooner or even more soon produce a better NVIDIA — cheaper, faster, cleaner, and completely free from U.S. backdoors, licensing, controls, restrictions, or influence.

Once they succeed, OpenAI can change its name to “CloseByeBye” — these chips will pour into the global market at 90% lower cost, instantly accessible to every U.S. adversary, every sanctioned regime, every hostile military, and every actor America hoped to restrain.

This is the harvest of strategic stupidity:

America tried to secure its advantage through force, and instead destroyed its advantage through the vacuum it created.

This is not new.

It is the same mistake Europe made by blocking itself and its citizens from cheap Russian oil, only to watch Russia open new and bigger markets and double its revenue while EU citizens pay double for energy — with zero effect on the Ukraine war.

It is the same mistake the United States made weaponizing the U.S. dollar and SWIFT, only to push rich and powerful nations to establish alternative — faster, cheaper, and backed-by-real value — currencies and payment systems.

And now it is the same mistake Biden made with AI chips — pushing China to stop depending on U.S. technology and start replacing it.

This is the American tragedy (Winston Churchill’s famous quote: “You can always count on Americans to do the right thing — after they’ve tried everything else”):

Goliath keeps relying on its power, and Goliath keeps losing to smarter Davids.

Trump’s new policy is correct.
Trump’s correction is necessary.
Trump’s move is intelligent.

But the nightmare is that Biden’s mistake may have already accelerated China beyond the point of return.

Better late than never — yes.

But we better get used to the reality where China is dominating the AI world as we know it so far.

For the USA to stay relevant, it must:

1. Stop using brutal restrictions and instead allow limitless SMART and PRODUCTIVE migration into all American AI companies — rather than blocking American companies from global talents who received real education instead of the American universities’ woke cancer.

2. Use unlimited brutal force to fight EU laws targeting American tech companies and American individuals.

3. Cooperate with China on AI rather than competing with the empire of tomorrow using the mindset of yesterday.

This means welcoming Chinese investment in American space companies and brain-chip innovation, and being part of the future together, rather than watching it on Chinese TikTok and TV.

4. Maintain Trump’s peace economy rather than returning to the traditional American war economy.

5. Keep America First, with the humility to recognize that there is more than one way to run a successful country — as proven by Singapore, China, the UAE, and Saudi Arabia, all of which have outperformed the world’s broken “democracies” with their fake freedoms, fake justice, and fake prosperity that they keep pretending to maintain while collapsing backward.
Google is exploring a groundbreaking strategy to place future data centers in Earth’s orbit, in what would be one of the most radical infrastructure shifts in the history of computing.
According to internal concept studies and early-stage engineering discussions, the company is examining whether off-planet facilities could solve several of the constraints now facing terrestrial cloud networks: energy consumption, cooling efficiency, physical security, and global latency.

The initiative—still in a conceptual phase—stems from growing pressure on major cloud providers to expand capacity while reducing their environmental footprint. Global demand for AI computation is surging, and traditional data center construction is bumping against physical, ecological, and political limits. Space, Google’s engineers argue, offers an environment with naturally cold temperatures, abundant potential for solar energy, and virtually unlimited expansion room.

Industry analysts say the idea is bold but not entirely implausible. Launch costs have fallen dramatically in the last decade, and autonomous infrastructure management has become increasingly reliable. Google’s recent advances in AI-powered maintenance systems could, in theory, allow unmanned orbital data hubs to operate with minimal intervention from Earth.

However, the plan faces staggering challenges. Hardware must survive extreme radiation, micro-meteoroid impacts, and thermal stress. Launching equipment into orbit remains expensive despite recent cost reductions. More critically, regulators worldwide are already raising concerns about space debris, orbital crowding, and cybersecurity risks posed by off-world infrastructure storing sensitive global data.

Google is reportedly exploring partnerships with several aerospace firms to assess the feasibility of modular, radiation-shielded computing units. These units would rely on high-density solar arrays and laser-based communication links to maintain high-speed connectivity with Earth. Engineers familiar with the discussions say that, in theory, orbital data centers could provide near-continuous uptime, immune to power outages, natural disasters, and even terrestrial geopolitical instability.

If Google proceeds, the project would mark a profound expansion of the cloud computing landscape—transforming space from a communications relay zone into a full-scale computational frontier. While practical deployment is still many years away, the mere prospect signals how far major tech companies are willing to go to keep pace with accelerating global demand for AI and data processing.

Google has not publicly confirmed the initiative, but its research teams have acknowledged that “off-planet infrastructure” is one of several long-range scenarios under study.

Should the company pursue this vision, the cloud of the future may not be a metaphor—it may be orbital.
Officials summon international outlets in an unprecedented meeting, accusing them of distorting reports on the deadly Tai Po fire and electoral matters
Hong Kong’s Office for Safeguarding National Security has summoned several foreign media organisations, issuing a warning against what it described as the spread of “false information” linked to the fatal Wang Fuk Court fire and the city’s upcoming Legislative Council election.

The summons, delivered without prior notice, marks one of the most direct interventions by national-security authorities into foreign press activity since the office was established.

In a written statement provided to attendees, officials accused unnamed outlets of distorting government disaster-response efforts, misrepresenting the election environment and provoking social division.

No specific news reports were identified, and the session did not allow questions, leaving journalists with little clarity on how the authorities intend to define or enforce boundaries on reporting.

The meeting follows public frustration and grief over the fire that killed more than one hundred fifty residents and fuelled scrutiny of building safety, regulatory oversight and the government’s management of the aftermath.

The election, taking place days after the tragedy, has already faced muted public engagement amid anger over safety failures and strict limits on political participation.

Foreign correspondents who attended the summons said officials warned them not to “cross the red line,” asserting that media freedom does not give licence to interfere in Hong Kong’s internal affairs.

Press-freedom groups interpreted the move as a tightening of control over independent reporting, raising concerns that foreign journalists may feel pressure to soften or restrict coverage during a politically sensitive period.

Authorities maintain that their aim is to prevent misinformation and preserve public order.

However, the lack of transparency in the allegations has left many in the media community questioning whether investigative reporting and critical analysis of the fire or election could be targeted next.

As Hong Kong moves through a period of heightened tension, the extent to which foreign media can operate freely will be closely watched both locally and internationally.
Hang Seng falls for a second straight session amid US interest-rate caution and lack of fresh catalysts from Beijing
Hong Kong equities extended losses on Tuesday as investors turned cautious over diminishing hopes for imminent interest rate cuts in the United States, compounded by a lack of fresh policy signals from Beijing.

The benchmark index fell around 1.1 percent in morning trading — its second consecutive drop — as sentiment on Wall Street cooled and regional markets traded under pressure.

Market participants said the retreat reflects a growing realisation that a near-term rate cut by the US Federal Reserve may not be forthcoming, despite earlier expectations that looser monetary policy could support risk assets.

The decline comes just days after a brief rally in Hong Kong markets, triggered by optimism over potential easing.

That surge has now run out of momentum, and with no new stimulus or upbeat economic data from China, investors are holding back.

Added to the unease is weak demand across key sectors such as technology and property.

Analysts note that many of the region’s growth stories have already been priced in, especially in stocks previously buoyed by artificial intelligence and investor excitement over Chinese market reopening.

With valuations appearing stretched, any sign of global economic or policy uncertainty has led to sharp retracement.

Some local investors are also cautious ahead of Beijing’s upcoming Central Economic Work Conference, waiting for clarity on whether authorities will introduce fresh economic supports.

The current policy vacuum — combined with volatility in global rates — has dampened appetite for Hong Kong equities for now.

Despite the recent drop, some fund managers remain watchful for a rebound, citing the city’s relatively strong liquidity and structural appeal — but only once clarity returns around global rate direction or China issues fresh support.

Until then, Hong Kong’s markets are likely to remain in a cautious, wait-and-see mode.
The phrase reframes the city’s political model around stability, efficiency and vetted leadership rather than competitive electoral pluralism
Beijing’s adoption of the term “high-quality democracy” to describe Hong Kong’s political system marks a deliberate shift in how the city’s governance is defined.

The new language, highlighted in the run-up to the latest legislative election, positions democracy not as a contest of competing political forces but as a model of orderly, executive-led administration supported by vetted legislators.

Under this framework, the emphasis is placed on cooperation between the government and lawmakers, with stability, predictability and efficient policy delivery considered central democratic virtues.

This stands in contrast to the adversarial politics that dominated earlier eras, which Beijing argues hindered governance and exposed the city to external influence.

The concept dovetails with electoral reforms enacted under the “patriots administering Hong Kong” principle, which require all candidates to pass a loyalty review before standing for office.

Supporters say the system ensures that those selected to govern share a unified commitment to Hong Kong’s long-term development and national sovereignty.

They also highlight the inclusion of professionals, technocrats and non-party candidates as evidence of a broader, more expertise-driven political field.

Backers of the model argue that by reducing internal conflict, the government can focus on economic development, innovation, housing and social stability.

They describe “high-quality democracy” as a form of governance designed to achieve tangible results and restore public confidence after years of disruption.

Sceptics, however, warn that the phrase risks obscuring a narrowing political space.

With opposition voices largely absent and public debate constrained, they question whether the model can deliver genuine accountability.

International observers note that while the rhetoric stresses “quality,” the fundamental mechanisms associated with liberal democratic systems remain tightly controlled.

Even so, the new framing signals Beijing’s intention to anchor Hong Kong’s political future in a model that prioritises cohesion and predictability.

How this redefined democracy performs in practice will shape the city’s governance and public trust in the years ahead.
Iconic fast-food chain sells a Yuen Long outlet for nearly eight times its original cost as part of a broader HK$1.2 billion retail-property divestment
McDonald’s has sold a three-storey outlet in Yuen Long for HK$77.4 million (about US$9.9 million), marking the company’s first completed property sale in Hong Kong under a sweeping asset-disposal strategy.

The shop, located in the Yuen Long Trade Centre, spans 9,695 square feet and was handed over to buyer Acc Investment, as recorded in the Land Registry.

The property was originally acquired in 1987 at a cost of HK$9.3 million — meaning the disposal fetched the firm more than eight times its original investment.

McDonald’s renewed a 20-year lease on the site in 2016 and reportedly paid monthly rent of HK$460,000 since then.

Despite the sale of the building, the restaurant will continue to operate locally under a lease agreement.

This transaction is the opening move in a larger plan that proposes the sale of eight retail properties — among a total portfolio of 23 outlets — across prime commercial districts including Tsim Sha Tsui, Causeway Bay, Mong Kok and Kennedy Town.

The listed properties are advertised as fully tenanted assets and collectively carry an estimated market value of HK$1.2 billion.

By divesting these properties, McDonald’s aims to convert long-held real-estate holdings into liquid capital while continuing operations at the same sites.

Analysts interpret this as a strategic pivot toward an asset-light model — allowing the global chain to preserve its footprint in Hong Kong’s fast-moving retail environment while freeing up sizeable capital.

The Yuen Long sale, with its high return multiple, may set the tone for further disposals under this scheme.

Whether additional properties sell at comparable yields will depend on investor appetite, rental yields and evolving market conditions.

For now, McDonald’s appears to be redefining its presence in Hong Kong — trading fixed assets for flexibility — while signalling confidence in continuing its franchise operations under long-term leases.
Latest market data shows no confirmed transaction at the reported price, with recent luxury sales either far higher or significantly lower
A reported sale of a Hong Kong penthouse for HK$250 million cannot be verified by any current, reputable public source.

A review of the latest land registry filings, major property-market databases and recent reporting from established outlets shows no confirmed transaction matching the claimed price.

Instead, the most recent marquee sale on record was a significantly higher transaction exceeding HK$600 million for an ultra-luxury penthouse, reflecting the top tier of Hong Kong’s property market.

Other high-end units have traded below the HK$250 million level, some under distressed conditions that do not represent prevailing market valuations.

None correspond to a standard arm’s-length sale at the figure in question.

Real-estate analysts note that Hong Kong’s luxury segment remains active but volatile, with pricing concentrated either in record-setting trophy assets or discounted units linked to individual financial circumstances.

As of the latest available data, no transaction at HK$250 million has been formally recorded, publicly disclosed or corroborated by market-leading property agencies.

Given the lack of verified evidence, the claimed sale remains unconfirmed, and any reporting on it would risk mischaracterising current market conditions.

Should a legitimate transaction emerge at this level, it would likely appear promptly in official filings or industry publications, as is typical for major penthouse sales in the city’s premium districts.
Licensed digital-asset firm seeks public listing as Hong Kong pushes to establish itself as a regulated Asian crypto hub
HashKey Holdings has formally filed for an initial public offering in Hong Kong, positioning itself to become the first cryptocurrency exchange ever listed on the city’s stock market.

The move marks a major step not only for the company but also for Hong Kong’s broader effort to build a regulated digital-asset centre capable of attracting global capital.

According to its listing documents, HashKey plans to offer more than two hundred forty million shares, with the proposed price range topped at six dollars ninety-five cents in Hong Kong currency.

The filing follows the exchange’s approval at the Hong Kong Stock Exchange’s main-board listing hearing, allowing the firm to advance to investor marketing and order-taking.

HashKey told prospective investors that money raised through the IPO will be used to reinforce its technology infrastructure, expand its service offerings and accelerate its international footprint.

The company has emphasised its ambition to build a fully compliant digital-asset ecosystem designed for both institutional and retail users — a positioning that aligns closely with Hong Kong’s tightened regulatory regime for virtual-asset platforms.

Despite its growth trajectory, HashKey remains loss-making.

It reported a deficit exceeding five hundred million Hong Kong dollars in the first half of twenty twenty-five, reflecting the cost of building compliant systems and operating in a market characterised by volatility and fast-moving regulatory demands.

The company argues that these early losses are part of the foundation needed to scale securely in a heavily scrutinised sector.

The IPO is widely viewed as a litmus test for investor appetite toward regulated crypto exchanges in Asia.

If successful, the listing could reinforce Hong Kong’s strategy of coupling strict oversight with open market access — an approach intended to attract institutional capital and restore confidence in the sector.

Investor orders are expected to open soon, setting the stage for one of the city’s most closely watched market debuts of the year.
City outlines a strategy to channel global capital into the region’s green transition, leveraging its financial strengths while facing regulatory and transparency challenges
Hong Kong is positioning itself to become a premier climate finance hub in Asia, pursuing a strategy that pairs its long-standing financial infrastructure with an expanding ecosystem of green investment tools.

Policymakers and industry leaders argue that the city is uniquely placed to mobilise the capital needed for Asia’s energy transition, particularly as regional demand for sustainable infrastructure grows.

At the core of Hong Kong’s vision is its role as a connector between global investors and China’s rapidly developing clean-energy and green-technology industries.

The city already leads the region in green and sustainable bond issuance, and regulators are tightening disclosure rules for listed companies while strengthening climate-risk assessment requirements for banks.

Officials believe these measures can raise transparency, deepen investor confidence and build a robust pipeline of environmentally focused financing.

New initiatives, including capacity-building programmes for environmental, social and governance professionals and the expansion of voluntary carbon-credit markets, signal a broader effort to embed sustainability across the financial sector.

The Hong Kong Monetary Authority is also integrating climate considerations into its regulatory guidance, reinforcing the expectation that financial institutions incorporate climate risk into core business decisions.

Yet the path forward is complex.

The absence of harmonised green-finance standards across Asia creates uncertainty for cross-border investment.

Many companies still do not disclose complete emissions data, particularly supply-chain-related Scope Three emissions, limiting investors’ ability to assess credibility and impact.

Analysts caution that without stronger regional coordination and more comprehensive transparency, climate finance risks becoming disconnected from real-world emissions reduction.

Advocates argue that Hong Kong can distinguish itself by directing capital into tangible infrastructure — cleaner power grids, low-carbon transport and climate-resilient urban systems — rather than relying primarily on financial instruments.

Success, they say, will depend on whether the city can match its financial ambition with rigorous oversight and a clear pathway for translating investment into measurable environmental outcomes.
The licensed exchange seeks fresh capital to expand technology, risk controls and global reach in a major test of investor confidence
HashKey Holdings, Hong Kong’s largest licensed cryptocurrency exchange, has filed to raise as much as two hundred fifteen million dollars through an initial public offering on the Hong Kong Stock Exchange.

The deal, one of the most significant digital-asset listings ever attempted in the city, underscores Hong Kong’s ambition to position itself as a regulated hub for global crypto finance.

The exchange plans to issue more than two hundred forty million shares at a proposed price range between five dollars ninety-five cents and six dollars ninety-five cents in Hong Kong currency.

If fully subscribed, the offering would value HashKey at around nineteen billion Hong Kong dollars.

Trading could begin as early as mid-December, following approval from the exchange’s listing committee.

Founded in twenty eighteen, HashKey has developed a broad ecosystem across trading, asset management and venture investment.

It was among the first firms to secure licences under Hong Kong’s revamped virtual-asset regulatory regime and has processed more than one point three trillion Hong Kong dollars in cumulative spot-trading volume.

Yet the exchange remains unprofitable, reporting losses exceeding five hundred million Hong Kong dollars in the first half of this year — a reflection of heavy investment in compliance, infrastructure and rapid expansion.

According to its filing, HashKey intends to use proceeds from the IPO to strengthen its technology platforms, reinforce risk-management frameworks, broaden its product offerings and support global expansion plans.

The company is betting that regulated exchanges will attract both institutional and retail users seeking trustworthy digital-asset services as the industry matures.

Market analysts say the outcome of the listing will serve as a barometer for the strength of investor appetite in Asia’s regulated crypto sector.

A successful debut would bolster Hong Kong’s efforts to revive its role as a digital-finance centre, while a weak response could amplify doubts about the long-term profitability of publicly listed crypto exchanges.
Voter participation rises slightly to 31.9 percent but remains among the lowest in city’s post-1997 history amid public outrage over fatal Tai Po fire
Hong Kong’s 2025 Legislative Council election registered a turnout of just 31.9 percent, marking the second-lowest participation rate since the city’s handover to China — a result that reflects widespread public disaffection following the tragic fire at a Tai Po apartment complex earlier this month.

Despite efforts by authorities to boost turnout, the vote was deeply coloured by grief, anger over perceived regulatory failures and a prevailing sense of disillusionment.

The blaze at the Wang Fuk Court estate claimed at least 159 lives, leaving many mourning and others questioning building-safety oversight, construction standards and official accountability.

The disaster compounded longstanding concerns over restricted political choice — as only government-approved “patriot” candidates were permitted to run — and the abrupt suspension of election campaigning during the mourning period further dampened enthusiasm for voting.

In response, officials extended voting hours and opened additional polling stations.

Security was heightened, especially around Tai Po — the site of the fire — and authorities arrested several individuals for allegedly encouraging a boycott or invalid voting through social media.

These measures, while intended to maintain electoral order, underscored deep social tensions and a widespread feeling among many residents that voting offered little to change the status quo.

Voter registration has also fallen for the fourth year in a row, reflecting growing apathy as many Hong Kongers question the legitimacy and effectiveness of a legislature populated almost entirely by pro-Beijing figures.

Analyses suggest the low turnout signals not only mourning but a broader erosion of trust in institutions among swathes of the public.

As Hong Kong confronts the aftermath of the fire and the political fallout from this election, the modest rise in turnout — from 30.2 percent in 2021 — is unlikely to restore confidence.

For many, the ballot went ahead under grim circumstances, leaving unresolved grief and unaddressed questions about safety, representation and accountability.
A blaze that tore through the Wang Fuk Court complex kills at least 159 people and prompts arrests, scrutiny and a nationwide safety crackdown
A devastating fire at the Wang Fuk Court apartment complex in Hong Kong has left at least 159 people dead, making it one of the deadliest residential disasters the city has ever faced.

The blaze erupted during renovation works on November twenty-six and rapidly engulfed seven of the estate’s eight towers, leaving dozens still unaccounted for as emergency crews worked through the aftermath.

Investigators have identified a combination of factors that contributed to the fire’s swift and lethal spread.

Bamboo scaffolding wrapped in synthetic netting and expanded polystyrene foam boards — materials commonly used in large-scale renovations — fueled the flames.

While the scaffold netting passed initial fire-safety checks, later testing showed that multiple samples failed required standards.

Residents reported that alarms did not trigger in many parts of the complex, trapping families in stairwells and on rooftops as smoke filled the buildings.

Authorities have arrested more than twenty people, including contractors, subcontractors and engineering-firm directors, on suspicion of manslaughter or negligence.

Some face additional allegations of safety-system tampering and falsifying the fire-resistance of building materials.

Meanwhile, Hong Kong officials, joined by national authorities, have launched an extensive fire-safety inspection programme targeting high-rise buildings that use similar renovation methods.

The fire’s human toll spans generations, from infants to elderly residents, including a firefighter who perished during rescue operations.

More than four thousand six hundred people had lived in the affected towers, many of whom are now displaced and relying on temporary housing.

Grief has spread across the city, with makeshift memorials and community support emerging as survivors attempt to recover belongings and rebuild their lives.

City leaders have pledged a thorough, judge-led inquiry to determine how safety regulations failed and whether oversight agencies overlooked prior warnings.

As investigators assess the extent of negligence and regulators revisit renovation standards, the Wang Fuk Court disaster stands as a stark reminder of the vulnerabilities embedded within aging, densely populated urban housing.
WhatsApp is developing a feature that lets new members see the previous 24 hours of group messages without compromising end-to-end encryption.
Meta is continuing to refine WhatsApp’s group experience.

After years in which new members entered group chats without any context and relied on others to explain what they had missed, the platform is now testing a feature designed to ease that transition: a view of the group’s most recent message history.

The concept is straightforward.

When a new participant joins a group, they will be able to see messages sent during the previous twenty-four hours.

This will not appear as a full archive or group diary, but as a short window offering enough context to understand the ongoing conversation.

The feature is expected to apply to both users joining via link and those added manually by an administrator, activating automatically the moment they enter.

End-to-end encryption, a cornerstone of WhatsApp and Meta’s messaging philosophy, is not expected to be compromised.

To preserve encryption integrity, the system will automatically select an existing group member to share the most recent messages with the newcomer.

Each time someone joins, the app also generates a new encryption key for the entire group, ensuring that each participant can see only what they are permitted to see.

This process occurs silently in the background, without disrupting the flow of conversation.

The feature will appear in group settings, where administrators will be able to choose whether to enable it.

In the current beta version, new members can view only the last twenty-four hours of messages, though Meta may adjust this timeframe before a full release.

For highly active groups where hundreds of messages are exchanged daily, a full day’s chat history may be overwhelming.

Meta is therefore considering limiting the feature to approximately one thousand messages from the preceding twenty-four hours—though, realistically, few users are likely to read even a fraction of that.

The feature is designed to work in older, long-running groups as well as newly created ones, ensuring that anyone joining late—whether they missed an invitation link or were temporarily unavailable—receives an up-to-date snapshot of the discussion.

This is especially useful in large groups or fast-moving conversations, where newcomers often struggle to understand what is happening.

If, for example, a group has spent hours planning an event and someone joins midway, they will immediately see the relevant messages from the past day and can participate without asking, “What did I miss?” or reopening a decision the group had already resolved.

The feature is currently in development within the beta version for developers, and recent updates to the Android beta indicate that WhatsApp is already in the advanced stages of implementation.

It is expected to become available to users in the near future.
A ten-day prison sentence for a biological facts fuels global concern over rising speech restrictions in Western “democracies” with psychological agenda
A case in Switzerland has ignited a wave of international debate after a man was handed a custodial sentence for refusing to pay a fine linked to a social-media post asserting that human skeletons reflect only male or female biological sex.

The ruling, grounded in the country’s expanded anti-discrimination laws, has raised deep questions about the boundaries of lawful expression in societies that once saw biological statements as uncontroversial fact.

The defendant, Emanuel Brünisholz from Bern, posted in December 2022 that a skeleton discovered centuries in the future would indicate whether the individual had been male or female.

His remark, made in a discussion thread beneath a politician’s Facebook post, was deemed by complainants to violate Article 261bis of the Swiss Criminal Code, which prohibits statements judged to publicly degrade protected groups.

Authorities opened an investigation and later secured a conviction, imposing financial penalties that Brünisholz refused to pay.

His refusal activated the custodial alternative: a ten-day prison term that is scheduled to begin in early December 2025. Supporters argue that he is being punished for articulating a basic biological observation.

Critics of the ruling say the case demonstrates how broadly interpreted hate-speech provisions can be used to criminalise statements unrelated to incitement or violence.

Human-rights observers warn that the outcome reflects a growing trend across parts of Europe, where enforcement frameworks intended to protect vulnerable groups are increasingly applied to police speech that many citizens still regard as factual or scientific.

As Switzerland moves forward with the sentence, the affair continues to reverberate far beyond its borders, prompting renewed scrutiny of laws that may transform widely accepted truths into punishable offences.
An eighty-eight-year-old Michigan cashier received one point seven million dollars after a short TikTok video about why he still works went viral, prompting a global fundraising campaign launched by a twenty-two-year-old Australian influencer.
Ed Bembas, an eighty-eight-year-old cashier from Michigan, received a check this week for one point seven million dollars after a short TikTok video in which he explained why he continues to work at his advanced age went viral and sparked a worldwide fundraising campaign.

The gesture was initiated by a twenty-two-year-old Australian influencer with tens of millions of followers, who urged his audience to help the elderly cashier who said he has kept working since his wife’s death "because he does not earn enough."

The young man, Sam Weidnehoffer, met Bembas at a store called Meijer in the city of Brighton in southeastern Michigan about two weeks ago and filmed the video.

"Ed’s story reminds all of us that many elderly people face enormous challenges just to survive," said Weidnehoffer, originally from Melbourne, to more than ten million of his followers on social media.

The response was overwhelming: more than fifteen thousand people donated amounts ranging between ten dollars and ten thousand dollars.

Bembas told reporters that he wants to find every donor and thank them personally, and said he has worked at Meijer, a large retail chain, for six years.

"I talked with everyone who passed through my checkout lane because it helped me keep from sinking into grief over losing my wife. I gave them a piece of the story of my life," Bembas said.

Weidnehoffer did not find Bembas by chance.

Lexi Wallace, twenty-six, who until recently had been a regular customer at the supermarket where Bembas worked, messaged him on Facebook and asked him to find Ed. "I thought his name was Bob.

He never corrected me," Wallace said.

"I loved doing my shopping there so I could meet him."

Weidnehoffer said that Bembas will be able to settle a debt of two hundred twenty-five thousand dollars thanks to the donations.

What he does with the rest is entirely up to him.

"It feels like a dream," Weidnehoffer added.

According to Bembas, the money will help him fund a trip to visit his brother and allow him to return to playing golf.

As for his job, he does not plan to retire immediately: "I will probably work another month or two."
Crew shortages linked to new pilot rest rules trigger mass cancellations by India’s biggest airline, prompting government intervention and regulatory rollback
India’s busiest airports have descended into chaos after the country’s largest airline cancelled well over a thousand flights in a single day, leaving thousands of passengers stranded across the nation’s key air hubs.

The airline, facing a critical shortage of cockpit crew, acknowledged “significant scheduling and operational disruptions” related to newly enforced pilot duty-time restrictions.

The distress spread rapidly, affecting major airports in Delhi, Mumbai, Bengaluru, Hyderabad, Ahmedabad, Chennai and more.

The crisis escalated following the November implementation of stricter flight duty time limitation norms aimed at reducing pilot fatigue — including longer rest periods and limits on night flying.

The airline, which controls a dominant portion of domestic air traffic, said it misjudged the roster planning needed to comply with the rules.

As cancellations mounted, passengers reported long queues, cancelled itineraries at short notice, piled-up delays and little information from airline staff.

Many travellers described chaotic scenes with crowds sleeping on airport floors and scrambling for alternatives.

By Friday, civil aviation authorities intervened: the national regulator temporarily suspended the new duty-time rules so airlines could resume flights, citing the urgent need to restore connectivity amid the disruption.

The government also imposed fare caps on rerouted flights to protect travellers from inflated prices.

Meanwhile the aviation watchdog issued a show-cause notice to the airline’s CEO, demanding explanations for what it described as “unacceptable operational failures.”

Airports responded with emergency measures — deploying extra staff, setting up help desks, offering refunds and rebooking options, and even deploying special trains to provide alternative transport for stranded passengers.

Railway services added dozens of extra trains to ease pressure on ground transport.

Airlines have begun issuing apologies and assurances that they will restore normal operations in the coming days.

For now, India’s once-reliable domestic air network remains in disarray, highlighting the fragility of the system under abrupt regulatory shifts and raising urgent questions about planning, preparedness, and the balance between safety regulations and service stability.
Judge-led inquiry launched into Tai Po blaze that killed at least 159 as authorities face calls for safety reform ahead of Sunday’s vote
Hong Kong authorities have ordered a judge-led independent investigation into the catastrophic fire at Wang Fuk Court in Tai Po, even as the territory prepares to hold its next legislative election this Sunday under the “patriots-only” system.

The blaze — the worst residential fire in Hong Kong in decades — has claimed at least 159 lives, left dozens missing, and triggered public outrage over alleged regulatory failure and substandard renovation practices.

The fire broke out on 26 November at the estate, whose eight high-rise towers were undergoing exterior renovation work.

Flames initially ignited from bamboo scaffolding wrapped in plastic netting and insulation foam — materials identified by investigators as highly flammable and instrumental in the rapid spread of fire across seven of the eight buildings.

In response to the tragedy, government officials have arrested at least 21 individuals, including directors and consultants of the contracting firm responsible for the renovation.

Some are facing manslaughter charges, while other arrests relate to suspected corruption and fraudulent safety documentation.

Authorities have also directed the removal of all similar scaffolding netting from buildings under renovation citywide, suspending renovation projects pending new safety inspections.

The human toll has been staggering.

Among the identified victims are elderly residents, domestic workers and one firefighter.

Dozens remain missing, and hundreds more were injured.

More than two thousand four hundred residents displaced by the fire have been moved to temporary housing, while the recovery operation continues.

Public memorials and vigils across the city have intensified demands for accountability, transparency and systemic reform of Hong Kong’s construction safety oversight.

Despite the disaster, the government led by John Lee ruled that the upcoming election cannot be postponed, calling the vote essential.

Candidate forums have been scaled back in respect of the mourning period, but polling preparations continue.

Early turnout indications suggest participation may fall below previous levels, reflecting public shock and uncertainty surrounding the government’s crisis response and the tightly managed electoral framework.

The territory’s national security office has summoned several foreign media outlets, warning against coverage deemed to “smear” government efforts or incite unrest.

Civil-society advocates argue that such pressure threatens transparency and public trust at a moment when accountability is most urgently needed.

As the inquiry proceeds, the city faces a pivotal test of both its governance model and its commitment to safeguarding public safety.
Huawei, Xiaomi, Oppo, Vivo and Honor roll out iPhone-migration tools and AI features as Apple’s “Apple Intelligence” remains stalled in China
Chinese smartphone makers are mounting a coordinated push to attract former iPhone users, leveraging Apple’s delayed rollout of AI features in China to gain market share.

Industry leaders including Huawei, Xiaomi, Oppo, Vivo and Honor have introduced tools this year designed to ease migration from iOS — along with new AI-powered features aimed at convincing high-end consumers to switch.

The push comes as China’s regulators delayed approval for the rollout of Apple’s generative-AI features, widely dubbed “Apple Intelligence,” creating a window of opportunity for Chinese vendors.

Oppo, for instance, now offers AI capabilities such as smartphone-enabled spending trackers and gym-equipment guidance; Honor has released a new “Device Clone” app that transfers photos, messages and contacts by scanning a QR code — and claims that 37 per cent of buyers of its flagship Magic V5 swapped from Apple gear.

Market data underscores the shift.

In the third quarter of 2025, no single company held more than 20 per cent of China’s smartphone market.

Among the top five, each of the Chinese firms claimed between 13.6 per cent and 18.5 per cent, rivaling the share held by Apple.

Meanwhile, Apple saw its China iPhone sales slip by about 4 per cent in the quarter ending September, even though the launch of the iPhone 17 produced a 22 per cent rebound in monthly sales immediately after launch.

Analysts say the campaign by Chinese phone makers is far more than a marketing effort: it reflects a fundamental shift in consumer expectations.

Having missed early mover advantage in smartphone AI, Apple is now fighting to protect its foothold in its biggest overseas market.

As one analyst put it, China’s local vendors are “moving faster and with greater openness in AI development,” which could steadily erode Apple’s premium-segment dominance.

Still, for now, Apple remains a major force in China’s smartphone market.

But the accelerating pace at which domestic rivals are rolling out AI-driven features and iPhone-migration tools has emboldened Chinese vendors — and created a tangible risk that a growing number of consumers may abandon iOS entirely for feature-rich, AI-enabled alternatives from homegrown brands.
Authorities call in international journalists, accusing them of undermining disaster-relief efforts and interfering ahead of crucial election
China’s security office in Hong Kong has summoned senior reporters from multiple foreign media organisations, warning them explicitly against “crossing the legal red line” in coverage of the recent catastrophic fire at a high-rise residential complex.

The unprecedented move comes as the city reels from what has become its deadliest residential disaster in decades, and as public scrutiny of government disaster-relief and regulatory oversight intensifies.

At the centre of concern is the fire at the eight-tower Wang Fuk Court, where at least 159 people lost their lives.

Flames swept rapidly through scaffolding, protective netting and foam insulation installed during renovation work — materials later deemed dangerously flammable.

The tragedy has triggered outrage and demands for accountability from survivors, residents and the wider community.

According to the statement issued after the journalist summons, several foreign outlets were accused of “spreading false information, distorting and smearing the government’s disaster relief and aftermath work,” as well as interfering in the upcoming Hong Kong Legislative Council election.

The authorities alleged that some coverage was being used to provoke social division and disrupt public trust, urging media not to act as “anti-China and trouble-making elements.”

The warning represents the first time the Office for Safeguarding National Security (OSNS) has convened a collective meeting with foreign media over a single event.

Since the imposition of the 2020 national-security law, the role and freedom of the press in Hong Kong have been under steadily increasing constraints — a trend observers say this incident further underscores.

In parallel with the media summons, authorities announced a public arrest: a 71-year-old man was detained for allegedly posting social-media content about the fire that police deemed seditious.

Officials claimed the posts incited hatred against the Hong Kong and central governments and revealed details of ongoing national-security investigations.

Local press and civil-society sources previously reported additional detentions under national-security or public-order charges, though official confirmation has been limited.

With the election scheduled on Sunday, and as families of victims and displaced residents await relief and answers, authorities have justified the crackdown as necessary to maintain social stability.

Yet many in Hong Kong and abroad view the move as a stark signal: under the guise of emergency response, dissent, scrutiny and independent reporting are increasingly treated as threats — reshaping the city’s media landscape at a moment when transparent coverage may be most needed.
Vote set for Sunday despite citywide trauma after deadly tower-block blaze raises oversight questions
Hong Kong is scheduled to hold its Legislative Council election on Sunday, even as the city remains in mourning following a massive fire that killed at least 159 people.

The decision to proceed comes amid deep public grief over what has become the deadliest residential fire in decades — and growing scrutiny over the government’s regulatory and safety oversight.

The upcoming vote will fill all 90 seats in the legislature, under an electoral system introduced in 2021 that allocates 20 seats to directly elected geographical constituencies, 30 to functional constituencies, and 40 to the Election Committee.

The new legislature is due to begin its term on January 1, 2026.

After the fire at the high-rise complex in Tai Po last week, authorities halted several election forums originally scheduled just days after the tragedy to allow focus on disaster-relief efforts.

The forums have since resumed with a revised timetable, intended to allow candidates to address issues related to post-fire recovery and resident support.

Officials have announced special arrangements for polling in the affected district — including modifications to polling-station locations for residents of the estate, to facilitate their participation under the difficult circumstances.

Government appeals for turnout have included shuttle buses for displaced residents.

Still, analysts expect voter participation to be low.

After sweeping electoral reforms barred pro-democracy parties and limited directly elected seats — reducing turnout from nearly sixty percent in 2016 to just over thirty percent in 2021 — public apathy and anger over the fire have dampened enthusiasm further.

Some residents say their grief and outrage over safety failures overshadow any desire to vote.

The election is widely seen as another consolidation of political control under the “patriots-only” framework, at a time when many voters question whether the legislative body can offer effective oversight — especially of building safety, disaster response and government accountability in the wake of the tragedy.
Authorities caution international outlets not to inflame tensions following the Wang Fuk Court disaster
Hong Kong’s Office for Safeguarding National Security has summoned representatives of several foreign media organisations, issuing a pointed warning not to escalate tensions or undermine official efforts in the aftermath of the devastating fire at Wang Fuk Court.

The directive, delivered days after the city’s deadliest residential blaze in decades, signalled a tightening of the government’s approach to international reporting as public pressure intensifies over the tragedy.

The fire, which broke out on 26 November in the Tai Po district, spread at exceptional speed through the high-rise estate and left at least 159 residents dead.

Emergency teams have continued recovery operations, while investigators pursue allegations that substandard construction materials and improper renovation practices accelerated the blaze.

Several contractors and associated personnel have been detained as part of ongoing inquiries into suspected negligence and corruption.

In statements released after the media summons, authorities accused unnamed foreign outlets of publishing misleading narratives that allegedly distort the government’s relief efforts and risk agitating the public ahead of the forthcoming legislative election.

Officials stressed that reporting must not “cross the legal red line,” a phrase increasingly used to reinforce the national security framework in Hong Kong’s public sphere.

Alongside the warnings to media, local authorities have initiated arrests linked to social-media activity surrounding the fire, including petitions and commentary they deem seditious.

These measures have been justified as necessary to maintain social stability, though they have prompted debate over the boundaries of permissible expression during a period of profound public grief.

As Hong Kong confronts the aftermath of the disaster, the government continues to balance its pledge of a full investigation with firm controls on information and public discourse, shaping the environment in which accountability and recovery efforts will unfold.
Beijing-backed security office warns outlets against ‘false information’ as death toll climbs to 159
Hong Kong’s Office for Safeguarding National Security has summoned several foreign media organisations to rebuke their reporting on the deadly fire at the Wang Fuk Court residential complex, warning that some coverage risks undermining public confidence and fomenting social division.

The meeting, held as the city grieves its worst residential blaze in decades, followed reporting that the authorities deemed to misrepresent response efforts and safety breakdowns related to the tragedy.

The fire at Wang Fuk Court, located in Tai Po, erupted on 26 November and spread rapidly through seven of the estate’s eight high-rise buildings.

As of early December, the confirmed death toll has reached at least 159, with dozens more missing — making it the deadliest fire Hong Kong has suffered in roughly 75 years.

Authorities have launched a criminal investigation into suspected manslaughter and corruption.

Multiple contractors and renovation-related firms have already seen arrests, as investigators probe the use of substandard construction materials — including flammable plastic netting and foam insulation — believed to have fuelled the blaze and accelerated its spread.

In public statements, the national security office accused “some foreign media” of “spreading false information, distorting and smearing the government’s disaster-relief and aftermath work,” and of attempting to interfere in politics ahead of an upcoming legislative-council election.

Although no specific articles were singled out, the warning emphasised that Hong Kong will not tolerate reporting that allegedly “provokes social division” or impedes recovery efforts.

The crackdown follows a broader pattern of tightened control over public discourse since the 2020 national security law took effect — prompting concern among press-freedom advocates.

Observers note that while the tragedy demands accountability and transparent investigation, the government’s effort to constrain media coverage risks further eroding open scrutiny and public trust.

Officials have pledged a judge-led independent inquiry into the fire and promised construction-safety reforms.

In parallel, they have moved to restrict unofficial activism, stifle protest-oriented discourse, and campaign against what they label “external forces” exploiting the disaster — a measure authorities frame as necessary to preserve social order during a sensitive electoral period.

As Hong Kong mourns, the summons to foreign media signals a clear message: critical journalism on the fire and its aftermath is now being treated as a potential threat to state stability — not merely public oversight or commentary.

The tension between accountability and control thus deepens at a moment when many in the city are demanding answers and justice for the victims.
Government to launch 26th bidding round offshore as part of a strategic energy reset
Thailand is preparing to open offshore oil and gas exploration blocks in the Andaman Sea, marking a decisive shift as domestic Gulf deposits dwindle.

Energy Minister Auttapol Rerkpiboon announced that the cabinet has approved a plan to invite private companies to bid for exploration and production rights in the deep-water blocks.

The bidding round, known as Round 26, is expected to begin in late 2025. Officials at the Department of Mineral Fuels (DMF) say the move could unlock deposits of up to ten trillion cubic feet of natural gas — a discovery that could secure Thailand’s energy supply for decades.

Global energy majors including Chevron, ENI, PTTEP, TotalEnergies and Exxon have expressed interest in participating, drawn by the potential scale and favourable new contract terms.

The DMF is considering a hybrid production-sharing contract (PSC) model to make deep-water exploration more appealing and economically viable.

Officials argue that tapping Andaman resources will help reduce reliance on expensive imported liquefied natural gas (LNG), strengthen energy security and lower power costs.

The government views the development as a vital step in securing stable, domestically sourced fuel for Thailand’s long-term energy needs — especially as consumption rises and older gas fields in the Gulf decline.

If a major reserve is confirmed, the benefits could extend far beyond energy.

Experts say it could bolster national revenues, generate employment, and trigger investment in infrastructure such as ports and LNG processing facilities.

With the new licensing round underway, Thailand signals a bold pivot toward unlocking previously untapped offshore reserves — potentially reshaping its energy landscape for years to come.
Cheung claims contract was forged and contract-promises misrepresented amid long-running lawsuit over unpaid film projects
Hong Kong actress Cecilia Cheung Pak-chi has testified in the High Court that her former agent, Samuel Yu Yuk-hing, defrauded her of HK$8.8 million by exerting undue pressure, forging contract documents and making false representations.

The claim comes as Yu and his former company, Asia Entertainment Group (AEG), continue to sue Cheung for allegedly reneging on commitments to appear in a series of films between 2011 and 2019.

Cheung, 45, denied that she breached any agreement, insisting the contracts presented were forged — a claim her legal team says is supported by documentary evidence.

She took the stand on Friday amid an emotionally charged hearing, defending her reputation and rejecting characterisations that she had wronged Yu after he paid substantial advances in 2011.

Yu had contended that he was Cheung’s “god-grandfather” and that she owed him loyalty, arguing she had accepted a HK$40 million deal in 2011 to star in four films — promises she allegedly abandoned when the relationship deteriorated in 2014. He further asserted that her contract was a personal agreement with him rather than with AEG, meaning his claims would survive the company’s liquidation in 2013.

In contrast, Cheung’s defence maintains that AEG was dissolved and the purported agreement lacks legitimacy.

She further accused Yu of forging the agency’s official seal to sign the contract on her behalf without consent, actions she described as fraudulent and coercive.

The actress has also said she detests being forced to explain her personal affairs publicly but feels compelled to speak now to protect her name.

The case against Cheung — a long-running legal dispute dating back to 2020 — has seen various developments, including prior claims by Yu and AEG seeking tens of millions in damages for breach of contract.

In her testimony, Cheung challenged the entire basis of those claims, alleging deception and forgery rather than contractual breach.

The court has yet to deliver a final verdict.

The proceedings underscore wider tensions in Hong Kong’s film industry over contract enforcement and the power imbalance between artists and managers.

For now, the spotlight is on the judge’s forthcoming decision — one which could reshape legal accountability in agent-celebrity agreements and set a precedent for others in the entertainment sector.
HKSAR rejects US congressional calls as distortion of justice and a threat to judicial independence
The Hong Kong Special Administrative Region government has strongly rejected a new resolution by United States politicians calling for support of jailed media tycoon Jimmy Lai Chee-ying, branding the effort “absurd” and a blatant attempt to interfere with ongoing legal proceedings.

A government spokesperson said the resolution misrepresents critical facts and seeks to exert external pressure on courts tasked with independently adjudicating the case.

Under Hong Kong’s national security law — enacted in 2020 — Jimmy Lai stands accused of colluding with foreign forces and conspiring to publish seditious material.

Authorities emphasised that his detention and treatment in custody follow standard correctional procedures: all inmates are afforded equal rights to medical care, oversight by independent inspectors, and conditions approved by the Correctional Services Department.

Claims that Mr Lai is being mistreated or arbitrarily detained were dismissed as misinformation.

Beijing’s representatives in Hong Kong also criticised the US lawmakers, accusing them of “glorifying” an individual charged under lawful national-security legislation and of meddling in China’s internal affairs.

Some warnings suggested possible visa restrictions for American staff and delays for US companies doing business in Hong Kong.

The government reiterated that external statements about the case amount to political manoeuvring aimed at undermining the rule-of-law framework in Hong Kong.

Officials called on foreign parties to respect the city’s independent judicial process and cease what they described as improper interference in the administration of justice.

For now, the case against Mr Lai continues, with the government affirming that the legal process will run its course — unimpeded by outside pressure or foreign political campaigns.
Licensed exchange prepares a high-profile public offering that could raise hundreds of millions and cement its leadership in the city’s digital-asset sector
HashKey, the leading licensed cryptocurrency exchange operator in Hong Kong, is advancing toward a landmark initial public offering that industry analysts say could establish it as the city’s most valuable crypto company.

Following regulatory clearance to proceed with its listing, the firm is preparing an offering expected to raise between two hundred million and five hundred million dollars, depending on final pricing and market conditions.

The exchange has grown rapidly in recent years, benefiting from Hong Kong’s push to position itself as a regulated global hub for digital assets.

HashKey’s operations extend beyond trading to include custody services, blockchain infrastructure development, asset management and tokenization platforms, giving it one of the most comprehensive footprints among Asia-based crypto enterprises.

Despite a period of volatility across digital-asset markets, HashKey has continued to attract institutional backing.

Major international banks and securities firms have signed on to underwrite the IPO, a signal of confidence in the city’s regulated crypto model and in HashKey’s long-term growth strategy.

The company has reported significant trading volumes on its platform but, like many firms in the sector, has also faced periods of operating losses during market downturns.

Proceeds from the offering are expected to strengthen the firm’s capital position, enhance liquidity, fund technology expansion and support its broader vision of building a leading, compliant digital-finance ecosystem rooted in Hong Kong.

Observers note that the IPO will serve as an important indicator of global investor appetite for regulated crypto businesses in Asia.

If the public listing performs strongly, HashKey is positioned to become Hong Kong’s most valuable crypto company and a flagship example of how regulated digital-asset firms can scale within an increasingly structured market environment.
Attendees pause at Sanya festival for moment of silence as Tai Po blaze victims remain mourned across Hong Kong
As the 2025 Hainan Island International Film Festival opened in Sanya, delegates and guests marked one of Hong Kong’s darkest weeks with a moment of collective remembrance for the victims of the Tai Po blaze.

The tragic fire at the Wang Fuk Court estate claimed at least 159 lives, and organisers chose to mute the festival’s celebratory tone in solidarity with the grieving city.

Guests gathered quietly before the inaugural events, with several visible signs of mourning — black attire, lowered voices and a programme note dedicating a moment of silence to the dead and missing.

The decision reflects the broader mood of mourning across Hong Kong, where thousands have queued in Tai Po to lay flowers and pay their respects.

The Wang Fuk Court disaster remains under intense scrutiny: authorities say bamboo scaffolding and flammable exterior netting may have accelerated the blaze’s spread, while investigations continue into renovation practices and building safety oversight.

Public grief is accompanied by growing demands for accountability and reform.

Amid these developments, the film industry appears to be reckoning with tragedy rather than celebrating glamour.

Festival organisers acknowledged the dire situation in Hong Kong by reshaping the opening ceremony into a gesture of respect rather than spectacle.

For many attendees, the move served as a poignant reminder that art and culture do not exist in isolation from social tragedy.

In Tai Po, collective mourning presses on: memorials remain, condolence books are circulating, and relief efforts continue for displaced families.

As the region contemplates reconstruction, the festival’s restrained launch stands as a gesture of empathy — and a signal that the Hong Kong fire’s aftermath will reverberate far beyond the city itself.
Cultural advocates urge reform of unsafe materials while resisting efforts to eliminate a historic craft
Artists and cultural figures across Hong Kong are rallying to defend the city’s traditional bamboo scaffolding craft as public scrutiny intensifies following the deadly fire at the Wang Fuk Court estate in Tai Po. The blaze, which killed more than one hundred fifty residents and devastated multiple towers, spread rapidly after igniting flammable netting wrapped around bamboo structures that had been erected for renovation work.

As authorities weigh proposals to phase out bamboo scaffolding entirely, artists and craftsmen fear the loss of a defining element of the city’s cultural heritage.

Government officials have acknowledged that the scaffolding, combined with combustible mesh and temporary construction materials, contributed to the speed of the fire’s spread.

Yet many engineers and preservationists argue that bamboo itself was not the principal hazard.

They point to systemic lapses — including the use of low-grade foam panels, insufficient fire-retardant covering and weak regulatory oversight — as the true vulnerabilities that allowed the blaze to engulf the buildings.

Hong Kong’s long-established bamboo scaffolders, known for their mastery of a technique passed down through generations, warn that a full ban would endanger their livelihoods and erase a practice uniquely suited to the city’s dense high-rise environment.

Artists have joined them, noting that bamboo scaffolding represents not only functional engineering but also a living symbol of Hong Kong’s resilience and identity.

Rather than abolishing the craft, a growing coalition is advocating targeted reforms: mandatory use of certified fire-safe netting, stricter inspection of renovation sites and tighter vetting of contractors responsible for exterior cladding and temporary structures.

Supporters say these measures would significantly reduce risk without sacrificing a tradition that has shaped the city’s skyline for decades.

As the community mourns the victims and debates the path forward, the future of bamboo scaffolding has become a broader question about cultural preservation, urban safety and how Hong Kong should rebuild after one of its most devastating modern tragedies.
Authorities raise support to help families displaced by the deadly Wang Fuk Court fire, while large-scale aid fund exceeds HK$2.8 billion
The Hong Kong Special Administrative Region government has raised the living allowance for households affected by the Wang Fuk Court fire in Tai Po from HK$50,000 to HK$100,000 per household.

The announcement was made by Secretary for Home and Youth Affairs, Alice Mak Mei-kuen, as authorities coordinate ongoing relief efforts for the nearly 1,930 affected families.

Earlier emergency measures had provided each household with a HK$10,000 cash subsidy, and additional support including condolence payments and funeral grants has been extended to families of the deceased.

Under earlier arrangements, victims’ families had received HK$200,000 per deceased, along with subsidies for funeral and related expenses.

To date, more than 2.5 billion Hong Kong dollars in external donations — combined with 300 million HK$ in government seed funding — have been contributed to the “Support Fund for Wang Fuk Court in Tai Po.” That brings the total available support to approximately HK$2.8 billion, which will underwrite relocation, rebuilding and long-term assistance for displaced residents.

Social-welfare teams have engaged with over 1,700 of the affected households to coordinate emotional support, supplies distribution and logistics.

As of the most recent update, 1,241 residents have been relocated to hostels or hotels and 2,235 to transitional or Housing Society units pending reconstruction work.

The increased allowance and expanded relief fund reflect the government’s intensified response to one of Hong Kong’s deadliest residential fires in decades, providing both immediate aid and a framework for long-term recovery for survivors and displaced families.
Hackers Are Hiding Malware in Open-Source Tools and IDE Extensions
Traveling to USA? Homeland Security moving toward requiring foreign travelers to share social media history
JPMorgan Predicts Near-Twenty-Percent Gains for Hong Kong and China Stocks in 2026
Hong Kong Security Office Warns Foreign Media Over ‘False Information’ Ahead of Election
Indian Airports in Turmoil as IndiGo Cancels Over a Thousand Flights, Stranding Thousands
China Sees Sharp Jump in Number and Wealth of Billionaires Amid Tech and EV Boom
Hong Kong Luxury Sales Continue to Rise in October on Tourist Rebound
Hong Kong Fire Survivor Struggles With the “Hero” Label Amid Guilt and Grief
Hong Kong Fire Death Toll Climbs to 159 as Authorities Order Scaffolding-Net Sweep Citywide
Chinese Autonomous-Driving Firm Momenta Files for Hong Kong IPO Amid Shift from U.S. Markets
Hong Kong’s Fire-Response Highlights Eroding Divide with Beijing as Security Pressures Rise
Hong Kong Detains 13 on Manslaughter Charges After Fatal Tower-Block Fire
Silent Resistance: How Hong Kong’s Young Activists Are Surviving Under Deepening Repression
Beijing Warns Against Using Hong Kong’s Tai Po Fire as Pretext for Unrest
Southeast Asia Floods Push Death Toll Above Nine Hundred as Storm Cluster Devastates Region
Hong Kong Investigates Corruption and Safety Failures After Deadliest Fire in Decades
Hong Kong High-Rise Fire Death Toll Climbs to 128 as Authorities Broaden Criminal Probe
Hong Kong Tower Fire Surpasses Grenfell as One of Worst High-Rise Tragedies — Spark Renewed Focus on Building Safety Worldwide
Hong Kong Pushes Hydrogen Transport Plan as Part of 2050 Carbon-Neutrality Drive
Hong Kong Firefighter Set to Marry Next Month Dies in Tai Po Tower Blaze — City Honors Fallen Hero
Families Endure Agonising Wait as Nearly 300 People Remain Missing After Hong Kong Tower Blaze
Hong Kong Residents, Volunteers and Companies Mobilise Massive Aid Effort After Tai Po Tower Fire
Death Toll Climbs to 128 as Hong Kong High-Rise Inferno Raises Urgent Safety Questions
250 Still Missing in the Massive Fire, 94 Killed. One Day After the Disaster: Survivor Rescued on the 16th Floor
Tesla reaffirms support for Chinese suppliers, rejects sweeping ban amid supply-chain retooling
China Holds Economic Levers Over Japan as Taiwan-Row Deepens — but Analysts Warn of Self-Harm
At least 44 killed, hundreds missing after massive fire rips through Hong Kong’s Wang Fuk Court towers
Hong Kong Government Spent HK$24.6 Million on Around 130,000 National Day Displays
Where to Stay, Shop and Drink During Hong Kong Fashion Fest 2025
Thailand’s Bitkub Eyeing Hong Kong Listing Amid 2025 IPO Plans
Hong Kong launches immersive light show in Central as highlight of WinterFest 2025
Families Accuse OpenAI of Enabling ‘AI-Driven Delusions’ After Multiple Suicides
Egypt Rolls Out Major Treasure Exhibition in Hong Kong to Boost Trade and Investment Ties
Hong Kong and Singapore Prime Office Rents to Reach Parity by 2027, CBRE Forecasts
Hong Kong’s Keeta Commits to Fairer Restaurant Terms After Competition Authority Intervention
Two More Imported Chikungunya Cases Raise Hong Kong’s 2025 Total to Seventy
Hong Kong Brings ‘Think Business, Think Hong Kong’ to Milan to Deepen Italy-Asia Engagement
Hong Kong Accelerates Tokenisation Drive to Attract Treasury Centres and Investment Flows
Hong Kong Passes First Comprehensive Ride-Hailing Law Amid Ongoing Platforms Fare Dispute
China’s Wedding Boom: Nightclubs, Mountains and a Demographic Reset
Hong Kong Bank Deposits Surpass HK$19 Trillion as City Claims Safe-Haven Status
Japan Faces Sharp Loss of Chinese Tourists Amid Diplomatic Rift
US–China Trade Truce Faces Thanksgiving Deadline Amid Divergent Accounts
Closing Ceremony of National Games Underscores Greater Bay Area’s Next-Gen Sporting Role
Hong Kong Jockey Club’s Role in Equestrian Events Propels Greater Bay Area Integration
Hong Kong Probes Social Media Leak of Voters’ Personal Data Ahead of December Election
Beijing’s Hong Kong Chief Meets HSBC CEO in Second High-Level Engagement
Myolie Wu’s Rise From Hong Kong Icon to Mainland China Star
Japan’s New Leadership Signals Shift in Crypto Race with Hong Kong
Hong Kong Shares Halt Four-Day Slide as Nvidia Earnings Boost Sentiment