Iran sought to assert control over Strait of Hormuz by saying that ships need its permission and mandatory insurance to cross, even as the US said that 20 ships sailed through overnight via a route it recommends along Oman’s coast. The conflicting signals come as the shipping industry tries to assess whether it is safe to transit the world’s most important energy chokepoint and what sort of system will emerge after the US and Tehran reached an interim peace deal to reopen the strait. The number...

German Chancellor Friedrich Merz signalled a major shift in Berlin’s economic relations with Beijing on Friday, saying the Chinese currency was undervalued by 30 per cent, well above the International Monetary Fund’s estimate of “about 16 per cent”. Speaking in Brussels after a European Council summit, Merz said China was “flooding markets” through the use of “high subsidies”, adding that “subsidising overcapacities” along with a “currency that isn’t convertible freely … is not...

A Hong Kong taxi fleet has terminated its collaboration with a driver after a cab stopped in the middle of the road in Tsuen Wan for two passengers to alight and take their suitcases out from the boot, with authorities requesting a report from the operator. A video circulating on social media on Friday shows the two passengers, each with two suitcases, crossing two lanes of traffic on Castle Peak Road near Global Plaza to reach the pavement. Buses and other vehicles are seen passing by both...

In the Moscow district of Maryino on Friday, shopkeeper Andrei Kondratyev braced for more Ukrainian attacks and possible petrol shortages, saying Russians needed to “get used to” a new reality. A day earlier, Kyiv set an oil refinery ablaze in the nearby Kapotnya area in its biggest drone attack on Moscow in years, engulfing the Russian capital in smoke. Such scenes were unthinkable when Moscow launched its full-scale offensive against Ukraine in 2022, but have in recent months become part of...

Authorities in Indonesia’s tourist island of Bali foiled an attempt to illegally trade 21 protected green sea turtles, police said on Friday. Bali police seized the live animals during a raid on the Pegametan coast of the island on June 10, after local residents reported suspected illegal turtle trading activity in the area, said Nanang Pri Hasmojo, head of law enforcement at the force. Police arrested a 67-year-old man identified only by his initials KS, who is suspected of storing the...

A Chinese hypersonic missile faster than five times the speed of sound, racing just above the sea surface, while staying below the radar horizon. Could this be a new nightmare for the US Navy? Possibly, if a new ambitious low-altitude hypersonic flight research programme launched by the Chinese Academy of Sciences (CAS) on Monday yields results. The programme will look into the technology that could support the development of such weapons. The project, funded under CAS’ Stable Support Programme...