Ukraine’s rare earths: the US$500 billion war prize Trump wants to secure
By Reuters
US Treasury Secretary Scott Bessent said on Wednesday that a minerals deal between Kyiv and Washington would provide Ukraine with a post-war “security shield”, and President Volodmyr Zelensky said he hoped to reach an agreement later this week.
Bessent, the first cabinet-level official on Donald Trump’s team to visit Kyiv, spoke after Zelensky said he was ready to do a deal to open Ukraine’s mineral resources to US investment, as he vies for the US president’s backing.
Trump, who wants a rapid end to the war with Russia but has not said whether he will continue vital military aid to Kyiv, has said he wants US$500 billion in rare earth minerals from Ukraine and that Washington’s support needs to be “secured”.
Following is an overview of the critical minerals, including rare earths, and other natural resources in Ukraine that could be of interest to the US and other partners:
Rare earths are a group of 17 metals used to make magnets that turn power into motion for electric vehicles, mobile phones, missile systems, and other electronics. There are no viable substitutes.
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By Reuters
US Treasury Secretary Scott Bessent said on Wednesday that a minerals deal between Kyiv and Washington would provide Ukraine with a post-war “security shield”, and President Volodmyr Zelensky said he hoped to reach an agreement later this week.
Bessent, the first cabinet-level official on Donald Trump’s team to visit Kyiv, spoke after Zelensky said he was ready to do a deal to open Ukraine’s mineral resources to US investment, as he vies for the US president’s backing.
Trump, who wants a rapid end to the war with Russia but has not said whether he will continue vital military aid to Kyiv, has said he wants US$500 billion in rare earth minerals from Ukraine and that Washington’s support needs to be “secured”.
Following is an overview of the critical minerals, including rare earths, and other natural resources in Ukraine that could be of interest to the US and other partners:
Rare earths are a group of 17 metals used to make magnets that turn power into motion for electric vehicles, mobile phones, missile systems, and other electronics. There are no viable substitutes.
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Hong Kong press union head launches private prosecution against ex-employer
By Fiona Chow
The head of the Hong Kong Journalists Association (HKJA), who accused The Wall Street Journal of firing her over her union role, has launched a private prosecution against her former employer after the Labour Department refused to press charges.
Eastern Court on Thursday for the first time heard Selina Cheng Kar-yue testify that Dow Jones Publishing Co (Asia) fired her for exercising her right to be an officer of a trade union, which she said violated the Employment Ordinance. Cheng was a reporter with the Journal until her termination on July 17, 2024.
She also brought a second charge against her former employer for allegedly preventing or deterring her from exercising her right to become an officer of the union between June 21 and 22 of the same year.
The Post learned her former employer had pressured Cheng to drop out after she informed the company that she was running for the leadership race at HKJA, a contest that eventually saw her elected as chairwoman on June 22.
The court heard Cheng had filed a complaint against Dow Jones to the Labour Department last November, but authorities eventually decided against prosecuting the company after it sought legal advice from the Department of Justice.
Dow Jones was expected to enter into a plea on Thursday, but Kevin Lai, its legal representative, told presiding magistrate Don So Man-lung that the party would need more time to allow the interested parties outside the Hong Kong jurisdiction to attend the case.
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By Fiona Chow
The head of the Hong Kong Journalists Association (HKJA), who accused The Wall Street Journal of firing her over her union role, has launched a private prosecution against her former employer after the Labour Department refused to press charges.
Eastern Court on Thursday for the first time heard Selina Cheng Kar-yue testify that Dow Jones Publishing Co (Asia) fired her for exercising her right to be an officer of a trade union, which she said violated the Employment Ordinance. Cheng was a reporter with the Journal until her termination on July 17, 2024.
She also brought a second charge against her former employer for allegedly preventing or deterring her from exercising her right to become an officer of the union between June 21 and 22 of the same year.
The Post learned her former employer had pressured Cheng to drop out after she informed the company that she was running for the leadership race at HKJA, a contest that eventually saw her elected as chairwoman on June 22.
The court heard Cheng had filed a complaint against Dow Jones to the Labour Department last November, but authorities eventually decided against prosecuting the company after it sought legal advice from the Department of Justice.
Dow Jones was expected to enter into a plea on Thursday, but Kevin Lai, its legal representative, told presiding magistrate Don So Man-lung that the party would need more time to allow the interested parties outside the Hong Kong jurisdiction to attend the case.
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By Sylvie Zhuang
At least four people died in a massive explosion on Thursday in a mall in Taichung, Taiwan, that also left at least 10 people injured, according to reports by local media.
The mayor of Taichung City, Lu Shiow-yen, said the blast caused at least four deaths.
The blast occurred around 11.30am at the city’s Shin Kong Mitsukoshi Department Store, a high-end department store in Taiwan, Taiwan’s Central News Agency said.
Witnesses said four people might have been blasted from the 12th floor of the mall, according to the report.
Taichung’s fire department said ongoing renovation demolition work on the 12th floor of the mall might have caused a suspected gas explosion.The Taichung fire department says an explosion on Thursday may have been gas explosion linked to demolition work. Photo: Handout
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China hedges its energy bets as Russia pipeline plan remains on hold
By Kandy Wong
China, the world’s leading consumer of natural gas, diversified its energy imports last year enough to reduce its risk exposure to any individual market – a move which analysts said has reduced the short-term likelihood of launching the controversial Power of Siberia 2 pipeline, a joint project with Russia.
Observers said Beijing could instead buy more liquefied natural gas (LNG) from the United States to address the bilateral trade imbalance US President Donald Trump has used as pretext to levy tariffs against Chinese goods.
The world’s second-largest economy imported 76.7 million tonnes of LNG last year, up 7.7 per cent, while pipeline gas imports rose 13.1 per cent year on year to 55 million tonnes, according to Chinese customs figures.
Its LNG imports from Australia totalled 26.2 million tonnes in 2024, accounting for about 34 per cent of total imports.
Turkmenistan was the biggest source of China’s gas imports shipped by pipeline, transporting US$9.6 billion worth of the commodity last year for 45.37 per cent of all pipeline imports.
Russia ranked a close second, with its US$8 billion in pipelined shipments accounting for 38.1 per cent of China’s total. It was also the third-largest exporter of LNG to China – behind Qatar- with 8.31 million tonnes, or 10.8 per cent of total imports.
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By Kandy Wong
China, the world’s leading consumer of natural gas, diversified its energy imports last year enough to reduce its risk exposure to any individual market – a move which analysts said has reduced the short-term likelihood of launching the controversial Power of Siberia 2 pipeline, a joint project with Russia.
Observers said Beijing could instead buy more liquefied natural gas (LNG) from the United States to address the bilateral trade imbalance US President Donald Trump has used as pretext to levy tariffs against Chinese goods.
The world’s second-largest economy imported 76.7 million tonnes of LNG last year, up 7.7 per cent, while pipeline gas imports rose 13.1 per cent year on year to 55 million tonnes, according to Chinese customs figures.
Its LNG imports from Australia totalled 26.2 million tonnes in 2024, accounting for about 34 per cent of total imports.
Turkmenistan was the biggest source of China’s gas imports shipped by pipeline, transporting US$9.6 billion worth of the commodity last year for 45.37 per cent of all pipeline imports.
Russia ranked a close second, with its US$8 billion in pipelined shipments accounting for 38.1 per cent of China’s total. It was also the third-largest exporter of LNG to China – behind Qatar- with 8.31 million tonnes, or 10.8 per cent of total imports.
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By Fran Lu
As China’s animated film blockbuster Ne Zha 2 breaks box office records and receives critical acclaim, it has been revealed that the voice of its arch villain is China’s so-called coolest grandpa.
Actor and model Wang Deshun, 89, who plays Wuliang Xianweng in the hit animated production, is seen by many as a perfect match for the character, who initially appears amiable but is later revealed to be brutal and ambitious.
Wang is well-known across China for his age-defying spirit and fit shape.
In 2015, at the age of 79, Wang walked the runaway shirtless during China Fashion Week, wowing many people online.
The octogenarian has led a colourful life.Wang Deshun has played an array of roles in Chinese films and television dramas. Photo: yzwb.net
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‘It is extremely uncomfortable’: Hanoi becomes world’s most polluted city
By Crystal Wu
The Vietnamese capital Hanoi has taken the top spot for air pollution among global cities, according to the Air Quality Index (AQI) operated by leading air-quality technology company IQAir on February 12, 2025.
Persistent smog has residents and tourists alike worried about whether the hazardous air may be causing long-term damage to human health.
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By Crystal Wu
The Vietnamese capital Hanoi has taken the top spot for air pollution among global cities, according to the Air Quality Index (AQI) operated by leading air-quality technology company IQAir on February 12, 2025.
Persistent smog has residents and tourists alike worried about whether the hazardous air may be causing long-term damage to human health.
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Hong Kong trams will further lose competitiveness if fares increase: lawmaker
By Vivian Au
Hong Kong trams might further lose their competitiveness with a proposed fare hike and the operator should open up new revenue streams by stepping up promotion on mainland Chinese social media platforms such as RedNote to draw more tourists, a lawmaker has said.
The Hong Kong Tramway Workers Union on Thursday also said the trams had lost a significant number of passengers under the government’s HK$2 (US 26 cents) fare scheme for elderly residents and that the proposed increment was needed to keep its operations afloat.
Under a proposal submitted to transport authorities by Hong Kong Tramways earlier this week, adult fares would be increased from the current HK$3.
Concessionary fares for children aged between three and 11 will rise from HK$1.50 to HK$1.60, an increase of 6.7 per cent, and for elderly residents above 65 from HK$1.30 to HK$1.50, up 15.4 per cent.
Lawmaker Chan Hok-fung of Hong Kong Island West constituency, warned that the fare hike, if approved, could ultimately hurt the operator’s bottom line as it would potentially drive away more passengers.
He noted that many tourists visited the tram station in Kennedy Town, which proved its attractiveness, but the company had not effectively promoted itself on RedNote, a Chinese social media platform that has gained global popularity.
“I suggest that the trams could do more to attract tourists,” he said, such as by launching more souvenirs for sale.
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By Vivian Au
Hong Kong trams might further lose their competitiveness with a proposed fare hike and the operator should open up new revenue streams by stepping up promotion on mainland Chinese social media platforms such as RedNote to draw more tourists, a lawmaker has said.
The Hong Kong Tramway Workers Union on Thursday also said the trams had lost a significant number of passengers under the government’s HK$2 (US 26 cents) fare scheme for elderly residents and that the proposed increment was needed to keep its operations afloat.
Under a proposal submitted to transport authorities by Hong Kong Tramways earlier this week, adult fares would be increased from the current HK$3.
Concessionary fares for children aged between three and 11 will rise from HK$1.50 to HK$1.60, an increase of 6.7 per cent, and for elderly residents above 65 from HK$1.30 to HK$1.50, up 15.4 per cent.
Lawmaker Chan Hok-fung of Hong Kong Island West constituency, warned that the fare hike, if approved, could ultimately hurt the operator’s bottom line as it would potentially drive away more passengers.
He noted that many tourists visited the tram station in Kennedy Town, which proved its attractiveness, but the company had not effectively promoted itself on RedNote, a Chinese social media platform that has gained global popularity.
“I suggest that the trams could do more to attract tourists,” he said, such as by launching more souvenirs for sale.
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Hong Kong polling body halts self-funded research amid national security probe
By Elizabeth Cheung
A prominent Hong Kong polling institute will suspend all self-funded research activities indefinitely in a “transformation” that may see it close down completely.
The Hong Kong Public Opinion Research Institute made the announcement on Thursday, just weeks after president and CEO Robert Chung Ting-yu was questioned by national security police as part of an investigation into whether he or his organisation aided an absconder.
“HKPORI will suspend all its self-funded research activities indefinitely,” the institute said.
It added that the suspended works included regular tracking surveys the institute had conducted since 1992, and all of its recently introduced feature studies.
The institute said it would focus efforts on preparing and executing existing commissioned studies, including those still in the negotiation stage.
“HKPORI will undergo a transformation or even close down,” it said.
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By Elizabeth Cheung
A prominent Hong Kong polling institute will suspend all self-funded research activities indefinitely in a “transformation” that may see it close down completely.
The Hong Kong Public Opinion Research Institute made the announcement on Thursday, just weeks after president and CEO Robert Chung Ting-yu was questioned by national security police as part of an investigation into whether he or his organisation aided an absconder.
“HKPORI will suspend all its self-funded research activities indefinitely,” the institute said.
It added that the suspended works included regular tracking surveys the institute had conducted since 1992, and all of its recently introduced feature studies.
The institute said it would focus efforts on preparing and executing existing commissioned studies, including those still in the negotiation stage.
“HKPORI will undergo a transformation or even close down,” it said.
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By SCMP
We have selected five Trending in China stories from the past seven days that resonated with our readers. If you would like to see more of our reporting, please consider subscribing.
A Chinese man who resembles Eason Chan returned to his hometown during the Lunar New Year and was widely mistaken for the famous Hong Kong singing icon.
The director of the historically successful film Ne Zha 2 has revealed how he was unemployed for more than three years during which time he had to depend on his mother’s meagre pension of 1,000 yuan (US$140) a month.The Chinese film director who made the Ne Zha 2 animation blockbuster has revealed how he spent three years living off his parent’s meagre earnings. Photo: SCMP composite/YouTube/IMDb
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Miss Pacific Islands hit by fraud row after Samoa beauty queen wins title
By Reuters
The organisers of the Miss Pacific Islands Pageant on Thursday called for unity after judges were stopped from leaving the Solomon Islands amid claims of fraudulent activities after Miss Samoa won the contest for the second year in a row.
Solomon Islands, which hosted the pageant, said it had lifted an exit ban on judges leaving the country on Wednesday afternoon, although a police investigation continued into what it said was “alleged fraudulent activities during the crowning of the Miss Pacific on Saturday 8th February”.
Samoa’s government said in a statement that the Samoan head judge, Leiataualesa Jerry Brunt, was stopped at the airport in the capital Honiara on Tuesday when trying to return home.
The Solomon Islands said in a statement that the minister for home affairs had told border officials to stop all pageant judges, as well as scrutineers, from leaving the country after receiving complaints of fraud in how Miss Samoa was crowned as the new Miss Pacific.
“The ‘Stop Notice’ only restricts the judges or relevant persons from departing Solomon Islands, but were not detained and are given the freedom to move around Honiara city,” it said.
Two of the five judges, from Papua New Guinea and Tonga, had already departed before the stop notice was issued, it added.
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By Reuters
The organisers of the Miss Pacific Islands Pageant on Thursday called for unity after judges were stopped from leaving the Solomon Islands amid claims of fraudulent activities after Miss Samoa won the contest for the second year in a row.
Solomon Islands, which hosted the pageant, said it had lifted an exit ban on judges leaving the country on Wednesday afternoon, although a police investigation continued into what it said was “alleged fraudulent activities during the crowning of the Miss Pacific on Saturday 8th February”.
Samoa’s government said in a statement that the Samoan head judge, Leiataualesa Jerry Brunt, was stopped at the airport in the capital Honiara on Tuesday when trying to return home.
The Solomon Islands said in a statement that the minister for home affairs had told border officials to stop all pageant judges, as well as scrutineers, from leaving the country after receiving complaints of fraud in how Miss Samoa was crowned as the new Miss Pacific.
“The ‘Stop Notice’ only restricts the judges or relevant persons from departing Solomon Islands, but were not detained and are given the freedom to move around Honiara city,” it said.
Two of the five judges, from Papua New Guinea and Tonga, had already departed before the stop notice was issued, it added.
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Wang Yi travels to Dublin as China shores up its relationship with Ireland
By Finbarr Bermingham
For a small island of just over 5 million people on Europe’s western edge, Ireland is playing an outsize role in the travel plans of China’s top leadership.
Chinese Foreign Minister Wang Yi is to land in Dublin on Sunday to meet his Irish counterpart Simon Harris and the Irish prime minister Micheal Martin on Monday, off the back of a visit to Britain on Thursday and a frenzied weekend of diplomacy in Munich.
At the Munich Security Conference, Wang is expected to meet top diplomats from the United States, the European Union, Germany, Ukraine and others. In such heavyweight company, Ireland – a geopolitical minnow – stands out.
In isolation, though, the trip is easy to understand. Over a decade as foreign minister and in more than 70 trips to Europe (including Russia and the Caucuses), Wang has never been to Ireland, according to a database kept by Sense Hofstede, an an independent researcher on China.
In trade terms, Ireland also punches above its weight. It is one of the only European countries to have a trade surplus with China – almost US$13 billion last year, calculations based on Chinese customs statistics.
Furthermore, with a new Irish government installed in December, Wang will surely be keen to press the case for maintaining ties with Beijing at an increasingly fraught geopolitical moment.
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By Finbarr Bermingham
For a small island of just over 5 million people on Europe’s western edge, Ireland is playing an outsize role in the travel plans of China’s top leadership.
Chinese Foreign Minister Wang Yi is to land in Dublin on Sunday to meet his Irish counterpart Simon Harris and the Irish prime minister Micheal Martin on Monday, off the back of a visit to Britain on Thursday and a frenzied weekend of diplomacy in Munich.
At the Munich Security Conference, Wang is expected to meet top diplomats from the United States, the European Union, Germany, Ukraine and others. In such heavyweight company, Ireland – a geopolitical minnow – stands out.
In isolation, though, the trip is easy to understand. Over a decade as foreign minister and in more than 70 trips to Europe (including Russia and the Caucuses), Wang has never been to Ireland, according to a database kept by Sense Hofstede, an an independent researcher on China.
In trade terms, Ireland also punches above its weight. It is one of the only European countries to have a trade surplus with China – almost US$13 billion last year, calculations based on Chinese customs statistics.
Furthermore, with a new Irish government installed in December, Wang will surely be keen to press the case for maintaining ties with Beijing at an increasingly fraught geopolitical moment.
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Seoul angered over North Korea’s demolition of venue for separated families
By Reuters
North Korea was dismantling a facility at its Mount Kumgang resort used for hosting meetings between families separated after the Korean war, South Korea said on Thursday, in the latest sign of strained tensions between the two Koreas.
Seoul’s unification ministry, which handles affairs between the two Koreas, urged in a statement North Korea to immediately stop the action at the site near the border.
The demolition of the facility was an “anti-humanitarian act that tramples on the wishes of separated families”, the ministry said, adding that it would consider legal measures over the action and a joint response with the international community.
North Korea has been escalating its rhetoric against its southern neighbour in recent years, designating South Korea as a “hostile state”.
Pyongyang also blew up sections of inter-Korean roads and rail lines on its side of the heavily fortified border last year, which prompted South Korea’s military to fire warning shots at the time.
In 2023, Pyongyang scrapped a 2018 military accord designed to curb the risk of inadvertent clashes between two countries that remain technically at war, prompting the South to take a similar step.
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By Reuters
North Korea was dismantling a facility at its Mount Kumgang resort used for hosting meetings between families separated after the Korean war, South Korea said on Thursday, in the latest sign of strained tensions between the two Koreas.
Seoul’s unification ministry, which handles affairs between the two Koreas, urged in a statement North Korea to immediately stop the action at the site near the border.
The demolition of the facility was an “anti-humanitarian act that tramples on the wishes of separated families”, the ministry said, adding that it would consider legal measures over the action and a joint response with the international community.
North Korea has been escalating its rhetoric against its southern neighbour in recent years, designating South Korea as a “hostile state”.
Pyongyang also blew up sections of inter-Korean roads and rail lines on its side of the heavily fortified border last year, which prompted South Korea’s military to fire warning shots at the time.
In 2023, Pyongyang scrapped a 2018 military accord designed to curb the risk of inadvertent clashes between two countries that remain technically at war, prompting the South to take a similar step.
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CATL, China’s top EV battery maker, eyes global dominance with US$5 billion IPO cash reload
By Daniel Ren
Contemporary Amperex Technology, mainland China’s biggest producer of electric vehicle (EV) batteries, has been shrewd in seizing the opportunity presented by the stock market upswing to tap foreign investors for fresh capital, according to industry executives and analysts.
CATL, as the company is known, is eager to replenish its coffers through a first-time Hong Kong stock offering to bolster its business outside the mainland, as it jostles with competitors like LG Energy Solution to supply to the world’s biggest EV makers.
“Most of the company’s money is in Chinese yuan,” said Ding Haifeng, a consultant at Shanghai-based financial advisory firm Integrity. “A fundraising in Hong Kong will effectively reinforce its ambitions of becoming the undisputed champion of the world’s EV battery market.”
The Shenzhen-listed company had US$6.7 billion and €3.9 billion (US$4.04 billion) of cash in foreign currencies as of June 30 last year, according to its latest accounts.
CATL, which filed its initial public offering (IPO) plan to the Hong Kong bourse on Tuesday, is said to be seeking at least US$5 billion from its deal, potentially the largest share sale in the city since Kuaishou Technology raised US$6.2 billion in January 2021. Proceeds will be for building factories overseas, where growth has slowed.
CATL’s successful secondary listing would see the company join the likes of Alibaba Group Holding, Nio, Baidu and many others from the mainland. Alibaba, which owns the Post, raised US$13 billion in 2019 from its secondary share sale in the city.
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By Daniel Ren
Contemporary Amperex Technology, mainland China’s biggest producer of electric vehicle (EV) batteries, has been shrewd in seizing the opportunity presented by the stock market upswing to tap foreign investors for fresh capital, according to industry executives and analysts.
CATL, as the company is known, is eager to replenish its coffers through a first-time Hong Kong stock offering to bolster its business outside the mainland, as it jostles with competitors like LG Energy Solution to supply to the world’s biggest EV makers.
“Most of the company’s money is in Chinese yuan,” said Ding Haifeng, a consultant at Shanghai-based financial advisory firm Integrity. “A fundraising in Hong Kong will effectively reinforce its ambitions of becoming the undisputed champion of the world’s EV battery market.”
The Shenzhen-listed company had US$6.7 billion and €3.9 billion (US$4.04 billion) of cash in foreign currencies as of June 30 last year, according to its latest accounts.
CATL, which filed its initial public offering (IPO) plan to the Hong Kong bourse on Tuesday, is said to be seeking at least US$5 billion from its deal, potentially the largest share sale in the city since Kuaishou Technology raised US$6.2 billion in January 2021. Proceeds will be for building factories overseas, where growth has slowed.
CATL’s successful secondary listing would see the company join the likes of Alibaba Group Holding, Nio, Baidu and many others from the mainland. Alibaba, which owns the Post, raised US$13 billion in 2019 from its secondary share sale in the city.
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