Category: 3. Business

  • Singapore warms to ‘Made in China’ label as stigma fades | Business and Economy News

    Singapore warms to ‘Made in China’ label as stigma fades | Business and Economy News

    Singapore – On a weekday afternoon in the heart of the central business district, the BYD showroom on Robinson Road is a picture of futuristic cool.

    Inside, sleek electric cars gleam under bright white lights as young professionals drift through the space.

    Just a short walk away, diners mingle in a BYD-branded restaurant over craft beer and bar bites in a chic, members’ club-like setting – one of several lifestyle ventures the Chinese electric vehicle giant has rolled out across Singapore.

    It is a scene that reflects a larger shift.

    Once seen as cheap and functional at best, Chinese brands are fast becoming desirable – even aspirational – among Singapore’s middle class.

    Shenzhen-based BYD was by far the top-selling carmaker in the city-state in the first half of 2025.

    The EV maker sold almost 4,670 cars – about 20 percent of total vehicle sales – during the period, according to government data, compared with about 3,460 vehicles sold by second-ranked Toyota.

    Many other Chinese brands have also made major inroads, from the tea chain Chagee to toymaker Pop Mart and electronics maker Xiaomi, shaping how Singaporeans work, rest and play.

    Singapore and Malaysia had the biggest concentration of Chinese food and beverage brands in Southeast Asia last year, according to the research firm Momentum Works, with 32 China-based firms operating 184 outlets in the city-state as of June 2024.

    At the same time, Chinese tech firms, including ByteDance, Alibaba Cloud and Tencent, have chosen Singapore for their regional bases.

    A bartender prepares a cocktail at a BYD by 1826 cafe and car dealership in Singapore on September 7, 2023 [Edgar Su/Reuters]

    Healthcare worker Thahirah Silva, 28, said she used to be wary of the “Made in China” label, but shifted her perspective after a visit to the country last year.

    “They’re very self-sufficient. They have their own products and don’t need to rely on international brands, and the quality was surprisingly reliable,” Silva told Al Jazeera.

    These days, Silva regularly samples Chinese food brands, often after seeing particular dishes or snacks taking off on social media.

    Compared with Japanese or Korean brands, she said, Chinese chains are “creative, quick to innovate and set food trends”, though she admits it sometimes feels like they are “taking over” from local brands.

    “Somehow, it made me feel there won’t be much difference visiting China, since so many of their brands are already here”, she said.

    For younger Singaporeans, the old stigmas around products “made in China” are fading, said Samer Elhajjar, senior lecturer at the marketing department of the National University of Singapore’s (NUS) Business School.

    “Many of these brands are now perceived as cool, modern and emotionally in tune with what young consumers want. They feel local and global at the same time,” Elhajjar told Al Jazeera.

    “You can walk into a Chagee and feel like you are part of a new kind of aesthetic culture: clean design, soft lighting, calming music. It is not selling a product. It is selling a feeling.”

    Moulded by China’s hyper-competitive e-commerce landscape, Chinese companies have been especially adept at rolling out digitally savvy marketing strategies, Elhajjar said.

    “These brands are now playing the same emotional game that legacy Western brands have mastered for decades,” he said.

    Singapore
    Pedestrians cross a street in the Chinatown district of Singapore on January 7, 2025 [Roslan Rahman/AFP]

    Singapore, where about three-quarters of the population is ethnic Chinese, is an especially attractive testbed for Chinese brands looking to expand overseas, according to analysts.

    Doris Ho, who led a brand consultancy in Greater China from 2010 to 2022, said that Chinese brands have been able to succeed in Singapore with a bold, creative approach to innovation that appeals to local sensibilities.

    This “new China edge”, Ho said, shows up in BYD features, such as built-in fridges and spacious, fold-flat interiors that can be used for sleeping, and hotpot chain Haidilao’s extravagant hospitality, which sees customers treated to live music performances, shoeshines, hand massages and manicures.

    “When they innovate, they don’t follow the same lines you’d expect. It’s their way of looking at something and coming out with a completely surprising answer,” Ho told Al Jazeera.

    For Chinese brands, Singapore offers “a sandbox with real stakes” as a compact, ethically diverse and globally-connected market, Elhajjar said.

    Because Singapore is seen as sophisticated, efficient and forward-looking, success in the city-state “sends a powerful message”, he said.

    The rise of Chinese brands has coincided with Singapore’s growing reliance on China’s economy.

    China has been Singapore’s largest trading partner since 2013, with bilateral trade in goods last year reaching $170.2bn.

    As Western firms scaled back or paused expansion, Chinese brands moved in, with many effectively propping up Singapore’s property sector and entrenching themselves in the country, said Alan Chong, senior fellow at the S Rajaratnam School of International Studies (RSIS).

    Singapore’s government has also actively courted Chinese firms amid the uncertainty from US President Donald Trump’s arrival on the geopolitical scene, Chong said.

    “You see the positive image of the United States slipping quite consistently,” Chong told Al Jazeera.

    “The US has acted in a miserly, resentful sort of way with ongoing trade tariffs, whereas China remains a factory of the world – seen as an economic benefactor – so there will be a swing in terms of looking at China favourably.”

    Chong said that Singapore has also become a virtual second home for some middle-class Chinese nationals, many of whom own property in the city-state.

    Singapore
    High-rise private condominiums in Singapore [File: Roslan Rahman/AFP]

    Singaporean universities have also made a concerted effort to attract Chinese students, with some even introducing programmes taught in Mandarin Chinese.

    In a report released earlier this year by China’s Ministry of Education and the Beijing-based Center for China and Globalization, Singapore was ranked the second-most popular destination for Chinese students after the United Kingdom.

    Some analysts have observed the rise of “born-again Chinese” (BAC) – people of Chinese descent outside China, especially in Singapore and Malaysia, who embrace a strong pro-China identity, despite limited cultural or linguistic ties.

    Donald Low, a lecturer at the Hong Kong University of Science and Technology, has defined so-called BACs as those who adopt an “idealised, romanticised” idea of a China that is “inevitably rising” and “stands heroically against a hegemonic West”.

    The success of Chinese brands in Singapore has not been without some pushback.

    Some Singapore residents have felt alienated by stores that operate mainly in Mandarin Chinese, Elhajjar said, given that the city-state has one of the world’s largest immigrant populations, as well as large minorities of native-born Malays and Indians.

    There have also been concerns raised about homegrown brands being priced out of the market by the arrival of large firms with deep pockets.

    Rising rents resulted in the closure of 3,000 F&B businesses in 2024, the highest number since 2005, Channel NewsAsia reported in January.

    In a recent white paper, the Singapore Tenants United for Fairness, a cooperative representing more than 700 business owners, called for curbs on “new and foreign players”.

    Leong Chan-Hoong, the head of the RSIS Social Cohesion Research programme, cautioned against blaming Chinese enterprises for social tensions or rising rents, describing the inroads made by some brands as part of the natural cycle of a market-driven economy.

    “As a global city-state, we are always at the forefront of such transitions,” Leong told Al Jazeera.

    Labubu
    A woman sells Labubu plush toys to visitors during the China Digital Entertainment Expo and Conference, known as ChinaJoy, at the Shanghai New International Expo Centre in Shanghai, China, on August 4, 2025 [Hector Retamal/AFP]

    Indeed, for many residents in Singapore, the growing presence of Chinese brands is simply an unremarkable part of daily life.

    Ly Nguyen, a 29-year-old Vietnamese migrant working in tech sales, said she started collecting Labubu, the globally popular gremlin-like toys created by Pop Mart, after being captivated by their “ugly but fun” aesthetic.

    “Labubu represents independent creativity and a newfound confidence in Chinese-designed memorabilia,” Nguyen told Al Jazeera.

    For Nguyen, the popularity of Labubu dolls, which have been spotted with celebrities such as Rihanna and BLACKPINK’s Lisa, points to a generational shift in how Chinese cultural exports are viewed.

    “The more familiar people become with these brands, the more likely younger generations will have a new, much more favourable perception towards China as a cultural power,” she said.

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  • Fertilizer Decisions for the 2026 Crop Year

    Fertilizer Decisions for the 2026 Crop Year

    Farmers will begin to consider management decisions for the 2026 crop year as fall approaches and the 2025 growing season winds down. A near term decision will be pricing and purchasing nitrogen fertilizer for fall nitrogen applications. Today’s article provides an update on average fertilizer prices for Illinois and discusses strategies farmers can and do use to price their nitrogen fertilizer.

    Nitrogen Fertilizer Prices in Illinois

    Average Illinois prices for three common nitrogen fertilizer products – anhydrous ammonia (82% N), Urea (46% N) and liquid nitrogen (28% N) – are shown in Figure 1 from January 4th 2020 through August 8th 2025. These prices are provided in the bi-weekly Illinois Production Cost Report from USDA’s Agricultural Marketing Service (USDA-AMS).

    Prices in the first week of August averaged $786/ton for anhydrous, $594/ton for urea, and $431/ton for liquid nitrogen.  These prices are 6%, 10%, and 20% higher than those reported for the first week of August in 2024.

    Current prices are well below the historical highs reached in the late spring of 2022 but remain high relative to longer run averages. For example, anhydrous ammonia averaged just under $650 per ton from September of 2008 (the beginning of the available AMS data series history) through 2020.  Urea and liquid nitrogen prices averaged around $440 and $300 per ton, respectively, over that same time period.

    Relative fertilizer prices provide another important perspective.  The ratio of anhydrous to monthly national cash prices for corn reported by the USDA is also included in Figure 1 (right axis). In calculating the ratio, the anhydrous price is converted to dollars per pound of nitrogen based on the average N content of 82%.  For example, the latest anhydrous price of $786 per ton is equivalent to $0.48 per pound of nitrogen ($786/(2000*0.82) = $0.48).

    The relative price measure (anhydrous to corn price ratio) has followed a similar path to fertilizer price levels since the start of 2020.  Relative nitrogen prices peaked at the end of 2021 with a ratio of 0.17.  Since the fall of 2023 the ratio has varied around the current level of 0.11.  Also similar to absolute prices, the relative price of fertilizer in the past few years has been above longer run averages (average ratio of 0.09 from September 2008 through 2020).

    Pricing and Purchase Strategies

    Farmers utilize a range of strategies to manage price risks for inputs.  Figure 2 provides results from a fall 2024 farmdoc survey of corn farmers that was part of a research project supported by the Illinois Corn Growers’ Association.  The survey included a question focused on the strategies used by farmers when pricing nitrogen.  Strategies included forward purchases, volume discounts, bundling their fertilizer purchases with other products/services, timing adjustments (purchases and applications), and an “other” option with farmers able to select all that applied.  A total of 271 corn farmers from multiple states in the U.S. responded to this question.  Other aspects of the survey were discussed in the farmdoc daily article of October 11, 2022).

    Forward purchases are very common, with 82% of respondents indicating they normally use this strategy.  Forward purchases or pre-paying can reduce price risk by locking in current price offers.  In some cases forward purchases may require the farmer to take delivery, implying the need for fertilizer storage capabilities on the farm. Many retailers also offer options to set prices for future delivery or application, typically with some portion of the total purchase amount due at the time of price determination.

    Volume discounts were used by 39% of respondents.  Bundling fertilizer purchases with other products   or services and timing adjustment strategies were used by 19% and 14% of respondents. Timing adjustments include both timing of fertilizer purchases and timing of applications. In addition, many farmers indicated using multiple strategies with the combination of forward pricing and volume discounts being the most common with roughly one-third (33%) saying they use both strategies.

    Varying purchases and application timing can spread price risk across multiple application windows, increasing the likelihood that purchases are made at the average price for the season.  Farmers commonly apply portions of their total nitrogen needs at multiple times including in the fall as well as either prior to, at/during, or after planting (see farmdoc daily article from July 22, 2025).

    Figure 2. Strategies Used by Farmers for Fertilizer Pricing

    As prices can vary across retailers, farmers often collect pricing information from multiple sources (see Figure 3). Survey results indicated most farmers solicit price quotes from more than 1 retailer, with 76% saying they solicit prices from at least 2 retailers: 44% from 2 sources, 24% from 3, 8% from 4 or more.  In contrast, purchasing from a single retailer is the most common but not a majority strategy, accounting for 43% of farmers. Those purchasing from fewer sources than they solicit prices from are likely checking pricing from multiple sources to negotiate a lower purchase price.

    Figure 3. Number of Fertilizer Retailers from which Farmers Solicit Price Quotes and Make Purchases

    Farmers are also advised to consider and compare crop and fertilizer prices and use available resources, such as the Maximum Return to Nitrogen (MRTN) calculator, to determine the amount of nitrogen that should be applied to maximize expected returns. The MRTN calculator would suggest total application rates of 180 lbs of N per acre in northern and central Illinois, and 200 lbs of N per acre in southern Illinois, with anhydrous prices around $800/ton and corn prices around $4 per bushel.  These prices are consistent with current price levels.

    Discussion

    Recent price averages for nitrogen products in Illinois have been 6% to 20% higher than the same time last year. A statistical approach to forecasting anhydrous ammonia prices based on corn and natural gas futures prices would suggest anhydrous prices are expected to remain in the $750 to $800 per ton range through this fall (see farmdoc daily from June 18, 2024). Fertilizer has historically been one of the most volatile input cost categories for farmers with recent spikes driven by supply chain concerns associated with the Russia-Ukraine conflict.  While fertilizer prices have come down from 2022 highs, they remain high relative to longer-term historical levels in terms of both absolute price levels and prices relative to corn.

    Forward pricing, volume discounts, and varying the timing of purchases and applications are strategies that can be used by farmers to control costs and the risks associated with fertilizer price risk. Farmers are advised to collect pricing information from multiple sources and consider their application rates given the ongoing cost-price squeeze.

    References

    Monaco, H., N. Paulson and G. Schnitkey. “Factors Influencing Nitrogen Fertilizer Application Rates and Timing in Illinois.” farmdoc daily (15):133, Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, July 22, 2025.

    Paulson, N., G. Schnitkey and C. Zulauf. “Where Might Nitrogen Fertilizer Prices Be Headed?” farmdoc daily (14):114, Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, June 18, 2024.

    Schnitkey, G., C. Zulauf, K. Swanson, N. Paulson and J. Baltz. “PACE and Nitrogen Fertilizer Strategies for 2023.” farmdoc daily (12):154, Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, October 11, 2022.

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  • Latest Oil Market News and Analysis for August 13

    Latest Oil Market News and Analysis for August 13

    Oil was steady after dropping in thin trading on Tuesday, with investors looking to talks between the US and Russian leaders on Friday for fresh impetus.

    Global benchmark Brent traded above $66 a barrel after slipping 0.8% in the previous session while West Texas Intermediate was near $63. US Secretary of State Marco Rubio spoke with his Russian counterpart Sergei Lavrov to prepare for the summit between Donald Trump and Vladimir Putin, even as he reiterated the meeting may not lead to a breakthrough in the Ukraine conflict.

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  • Japan’s Bond Market Risks Loom Ahead of Five-Year Sale

    Japan’s Bond Market Risks Loom Ahead of Five-Year Sale

    Japan will auction five-year government bonds Wednesday against the backdrop of renewed concerns over poor liquidity and volatility in the nation’s debt market.

    The benchmark 10-year bond wasn’t tradedBloomberg Terminal at all on Tuesday, the first such instance in more than two years, before seeing transactions on Wednesday, according to data from an institutional brokerage. That lack of liquidity comes against the backdrop of choppy trading in global debt markets.

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  • Driving theory test to include CPR first aid questions

    Driving theory test to include CPR first aid questions

    People sitting their driving theory test will soon need to swot up on life-saving cardiopulmonary resuscitation (CPR) skills, the UK’s Driver and Vehicle Standards Agency (DVSA) has decided.

    All road users are being encouraged to learn the basics and know how to use a defibrillator in an emergency.

    It’s hoped the questions, which will be added to the car and motorcycle theory test in early 2026, could prevent avoidable deaths.

    Drivers are often first on the scene when someone suffers a cardiac arrest, says the DVSA.

    Adding the information into the official learning materials means that the 2.4 million learner drivers who take their theory test each year will have a better understanding of the skills to use in an emergency, it says.

    Learning materials have already been updated with the new content, including questions such as “Who can use a public access defibrillator?” – the answer being “everyone”.

    A defibrillator gives a jolt of energy to the heart, which can help get it beating normally.

    The devices are designed to be user-friendly, with clear instructions.

    If CPR is given and a defibrillator used within the first minutes of collapse, survival rates could be as high as 70%, evidence suggests. Without it, fewer than one in 10 survive.

    If someone is unconscious and not breathing normally, call 999 and start CPR straight away.

    This can be “hands-only” CPR to deliver timely chest compressions to get blood pumping.

    One of the new theory test questions is about the correct depth to push down.

    James Cant, chief executive of Resuscitation Council UK, said: “We’re delighted to be working with the DVSA and other partners to introduce CPR and defibrillator awareness into the driving theory test.

    “By embedding these life-saving skills into such a widely taken assessment, we can help ensure that more people, from all communities, gain the knowledge and confidence to act during a cardiac arrest.”

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  • Elon Musk accuses App Store of favoring OpenAI

    Elon Musk accuses App Store of favoring OpenAI

    Elon Musk’s long-running feud with OpenAI and its chief, Sam Altman, appears to be continuing as he threatens a lawsuit over the App Store ranking of Grok AI assistant that competes with ChatGPT (JIM WATSON)

    Elon Musk has taken his feud against OpenAI to the App Store, accusing Apple of favoring ChatGPT in the digital shop and vowing legal action.

    “Apple is behaving in a manner that makes it impossible for any AI company besides OpenAI to reach #1 in the App Store, which is an unequivocal antitrust violation,” Musk said in a post on his social network X on Monday, without providing evidence to back his claim.

    “xAI will take immediate legal action,” he added, referencing his own artificial intelligence company.

    X users responded by pointing out that DeepSeek AI out of China hit the top spot in the App Store early this year, and Perplexity AI recently ranked number one in the App Store in India.

    DeepSeek and Perplexity compete with OpenAI and Musk’s startup xAI.

    Both OpenAI and xAI released new versions of their AI assistants, ChatGPT and Grok, in the past week.

    App Store rankings on Tuesday listed ChatGPT as the top free iPhone app with Grok in fifth place.

    Apple did not immediately respond to a request for comment.

    Factors going into App Store rankings include user engagement, reviews, and the number of downloads.

    OpenAI and Apple in June of last year announced an alliance to enhance iPhones and other devices with ChatGPT features.

    ChatGPT-5 rolled out free to the nearly 700 million people who use it weekly, OpenAI said in a briefing with journalists last week.

    Tech industry rivals Amazon, Google, Meta, Microsoft and xAI have been pouring billions of dollars into artificial intelligence since the blockbuster launch of the first version of ChatGPT in late 2022.

    Chinese startup DeepSeek shook up the AI sector early this year with a model that delivers high performance using less costly chips.

    OpenAI in April of this year filed counterclaims against multi-billionaire Musk, accusing its former co-founder of waging a “relentless campaign” to damage the organization after it achieved success without him.

    In legal documents filed at the time in northern California federal court, OpenAI alleged Musk became hostile toward the company after abandoning it years before its breakthrough achievements with ChatGPT.

    The lawsuit was another round in a bitter feud between the generative AI (genAI) start-up and the world’s richest man, who sued OpenAI last year, accusing the company of betraying its founding mission.

    In its countersuit, the company alleged Musk “made it his project to take down OpenAI, and to build a direct competitor that would seize the technological lead — not for humanity but for Elon Musk.”

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  • Auto sales see annual growth amidst monthly decline – Newspaper

    Auto sales see annual growth amidst monthly decline – Newspaper

    KARACHI: After a 43pc surge during FY25, the new fiscal year FY26 began on a positive note, with sales of cars, light commercial vehicles (LCVs), pickups, and jeeps rising 28pc year-on-year in July to 11,034 units. However, sales were down 49pc month-on-month, largely due to the high base effect of June.

    Data released by the Pakistan Automotive Manufacturers Association (PAMA) showed significant momentum in the electric vehicle (EV) segment. The newly launched Honda ICON e EV scooter led the way, with production and sales at 313 and 303 units, respectively. United, traditionally a petrol bike manufacturer, also reported EV-bike production and sales of 229 and 270 units in July 2025, up from 88 and 74 units in July 2024.

    In the four-wheeler segment, combined sales of Honda Civic/City, Suzuki Swift, and Toyota Corolla/Yaris/Cross rose to 1,143, 522, and 2,418 units in July 2025, compared to 790, 502, and 1,106 units a year earlier — an increase of 45pc, 4pc, and 119pc, respectively.

    Hyundai Elantra and Sonata also posted improved numbers, selling 141 and 66 units compared to 33 and 34 units in July 2024. Suzuki Cultus sales climbed to 239 units from 96. PAMA data showed no production for the Suzuki WagonR, indicating that Pak Suzuki Motor Company Ltd may have discontinued the model. Meanwhile, Suzuki Alto sales dipped to 2,327 units from 2,869.

    EV segment sees notable expansion

    Sales of Toyota Fortuner and Revo rose to 919 units from 558, while Hyundai Tucson and Honda BR-V/HR-V saw growth to 546 and 357 units, from 113 and 141, respectively. Haval by Sazgar and the JAC X200 recorded sales of 1,079 and 149 units, up from 824 and 102. Hyundai Porter and Santa Fe reached 395 and 77 units, versus 349 and 58, showing increases of 13pc and 33pc, respectively.

    Myesha Sohail of Topline Securities attributed the YoY growth to a relatively stable macroeconomic environment, lower interest rates, and easing inflation — factors that have improved consumer confidence. The sharp MoM decline, she noted, was due to a high base in June 2025, driven by pre-budget buying and accelerated purchases ahead of anticipated fiscal changes.

    She added that two- and three-wheeler sales rose 44pc YoY to 122,441 units but declined 12pc MoM. Atlas Honda led with 104,276 units sold in July 2025, up from 70,255, while Suzuki’s two-wheeler sales reached 2,518 units compared to 1,643. Yamaha sold 586 units, up from 302 last year.

    The tractor segment, however, saw sales fall 18pc YoY and 57pc MoM to 1,195 units, as weak farm economics continued to weigh on rural demand.

    Truck and bus sales reached 374 units in July 2025, reflecting a 22pc YoY increase but a 49pc MoM drop.Looking ahead, Myesha expects auto sales to maintain momentum through FY26, supported by lower interest rates and a strong pipeline of new model launches, particularly in hybrid and plug-in hybrid categories.

    Published in Dawn, August 13th, 2025

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  • ‘Cryptocrash king’ Do Kwon pleads guilty to fraud

    ‘Cryptocrash king’ Do Kwon pleads guilty to fraud

    A South Korean former tech executive accused of helping to spark a cryptocurrency crisis that cost investors more than $40bn (£31.8bn) has pleaded guilty to two criminal counts of fraud.

    Do Kwon was the boss of Singapore-based Terraform Labs, which operated two cryptocurrencies – TerraUSD and Luna – both of which collapsed in 2022, triggering a wider sell-off in the crypto market.

    The US says he was responsible for the failure of the two digital currencies, accusing him of “orchestrating a multi-billion dollar crypto asset securities fraud”.

    As part of the plea deal, prosecutors have agreed to refrain from seeking a sentence longer than 12 years. Kwon is due to be sentenced on 11 December.

    Kwon’s guilty plea in a New York court comes after a lengthy legal battle.

    He initially fled South Korea after a warrant for his arrest was issued in 2023, eventually ending up in Montenegro where he was arrested and jailed before being extradited to the US.

    US prosecutors said Kwon misrepresented features that were supposed to keep the so-called stablecoin at $1 without outside intervention.

    They alleged that in 2021, Kwon arranged for a trading firm to surreptitiously purchase millions of dollars worth of the token to restore TerraUSD’s value, even as he told investors that a computer algorithm called Terra Protocol was responsible.

    Prosecutors say the alleged misrepresentation prompted a wide array of investors to buy Terraform’s offerings, which helped prop up the value of the company’s Luna token, which was closely linked to TerraUSD.

    The following year, Kwon’s TerraUSD and the Luna cryptocurrency crashed.

    “In 2021, I made false and misleading statements about why [TerraUSD] regained its peg,” he said in court on Tuesday.

    “What I did was wrong and I want to apologise for my conduct,” he added.

    Kwon had originally pleaded not guilty to nine counts stemming from the crash, including securities and wire fraud, and money laundering conspiracy.

    He had faced up to 135 years in prison if convicted of the charges in the original indictment.

    As part of his plea deal, Kwon agreed to refrain from challenging the allegations in the indictment.

    He must also forfeit up to $19.3m plus interest and several properties and pay restitution.

    While prosecutors have agreed to limit their requested sentence to 12 years, Judge Paul Engelmayer maintained that he was entitled to prescribe a longer sentence.

    That sentence could be up to 25 years in prison.

    He still faces charges in South Korea, according to his attorney.

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  • YouTube’s new AI can guess your age from your watchlist, US trial starts

    YouTube’s new AI can guess your age from your watchlist, US trial starts

    How else to prove your age?

    If the system gets it wrong, you can prove your age with a government-issued ID, credit card, or selfie. Browsing without logging in? Some content will be blocked unless you verify your age another way.

    The trial comes amid growing political and legal pressure for tech platforms to step up age verification, especially after the U.S. Supreme Court upheld a Texas law aimed at restricting minors’ access to explicit material.

    James Beser, YouTube’s director of product management for youth, said in a blog post that the system is designed to “deliver safety protections while preserving teen privacy,” though digital rights groups caution it could raise privacy and free speech concerns.

    If successful, this test could pave the way for a global rollout—marking a future where YouTube knows your age not because you told it, but because it figured it out. For millions of users, that could mean smarter recommendations, stricter safeguards, and a new standard in how online platforms handle age verification.

    Justin is a personal finance author and seasoned business journalist with over a decade of experience. He makes it his mission to break down complex financial topics and make them clear, relatable, and relevant—helping everyday readers navigate today’s economy with confidence.

    Before returning to his Middle Eastern roots, where he was born and raised, Justin worked as a Business Correspondent at Reuters, reporting on equities and economic trends across both the Middle East and Asia-Pacific regions.

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  • Nikkei 225, Kospi, CSI 300

    Nikkei 225, Kospi, CSI 300

    Here are the opening calls for the day

    Happy mid-week from Singapore. Asia markets are set for a mostly higher open.

    Japan’s Nikkei 225 was set to open higher, with the futures contract in Chicago at 43,325, while its counterpart in Osaka last traded at 43,280, against the index’s last close of 42,718.17.

    Futures for Hong Kong’s Hang Seng index  stood at 25,144, pointing to a higher open compared with the HSI’s last close of 24,969.68.

    However, Australia’s S&P/ASX 200 was set to start the day lower with futures tied to the benchmark at 8,852, compared with the index’s last close of 8,880.8.

    — Lee Ying Shan

    S&P 500 hits new intraday high

    Traders work on the floor of the New York Stock Exchange on August 11, 2025.

    NYSE

    The S&P 500 rose 0.8% on Tuesday to hit a new intraday high.

    Stock Chart IconStock chart icon

    S&P 5D chart

    During the session, the S&P 500 surpassed its prior high from July 31. A closing high would be the S&P’s 16th of the year.

    Earlier in the morning, the Nasdaq Composite also hit a new intraday high. A record close would be the benchmark’s 19th of the year.

    — Nick Wells, Lisa Kailai Han

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