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Alibaba Group Holding has raised HK$80 billion (US$10.2 billion) through a new share placement priced at HK$112.70 per share, an 8.4% discount to Friday's close. The offering, aimed at funding AI development, drew strong demand but sent shares down as much as 10% in early Hong Kong trade.
Fast-fashion retailer Shein is set to debut on the Hong Kong Stock Exchange on September 1, aiming to raise up to HK$13.86 billion in a listing that values the company at close to $27 billion—a significant drop from its private market peak. The IPO follows Beijing's approval and comes amid regulatory scrutiny, tariff pressures, and competition, with proceeds earmarked for technology and international expansion.
Ampol has reported a sharp rise in first-half 2026 profit, with statutory net profit reaching A$1.36 billion against a year-earlier loss, as Middle East disruption boosted refining margins. The company more than quadrupled its interim dividend to A$1.85 per share and completed the EG Australia acquisition.
Ampol's first-half net profit jumped more than four-fold to A$857.2 million, driven by soaring refining margins following the U.S.-Iran conflict. The company declared a record interim dividend of 185 cents per share, up from 40 cents a year earlier, while warning that market conditions remain tight.
The RAC estimates 20 million leisure car trips over the August bank holiday weekend, the highest since 2015, with Friday predicted to be the busiest day. Drivers face higher fuel costs and congestion hotspots, while Network Rail warns of engineering works on key routes.
Three leading electric vehicle organisations are urging ministers to make independent battery health assessments mandatory for used car sales. The government says it is working on new rules to provide clearer battery health information, as used EV sales surge.
Greek Foreign Minister George Gerapetritis and Egyptian counterpart Badr Abdelatty held a phone call focused on strategic partnership, economic and energy cooperation, and trilateral coordination with Cyprus. The ministers also highlighted the need for intensified diplomatic efforts to ease regional tensions.
Luis Manuel Aviles, a Nicaraguan immigrant and father of a Navy sailor on a record-setting deployment, was arrested by Border Patrol in Florida and remains in ICE custody. Family members describe him as a hardworking resident with a work permit, while DHS says he entered illegally and that military ties do not exempt anyone from immigration law.
Iran's Supreme National Security Council Secretary Mohsen Rezaei warned that Tehran could halt all oil exports through the Strait of Hormuz and the Persian Gulf if the US continues its economic war. The threat comes amid heightened tensions over US plans for tougher sanctions, with Iranian officials responding defiantly.
Oscar Piastri finished a distant sixth at the Dutch Grand Prix after a slow pit stop and a sudden loss of pace, while teammate Lando Norris claimed his second consecutive victory to close the gap in the championship. The contrasting results have left McLaren with questions to answer ahead of Monza.
Pakistan is positioning itself as a key Middle East diplomatic player, with Army Chief Asim Munir’s visit to Tehran and a trilateral defense pact with Saudi Arabia and Türkiye. The moves signal Islamabad’s ambition to mediate US-Iran tensions and expand its strategic partnerships.
Al-Hilal are confident of securing Ollie Watkins from Aston Villa after the striker expressed his desire to move to Saudi Arabia, with up to four bids rejected and a deal now close. Meanwhile, the club faces decisive hours over Karim Benzema's future, with a financial settlement reportedly likely, and Villa are targeting Nicolas Jackson as a replacement.
US Central Command says it has redirected 70 commercial vessels, disabled three, and boarded two as of Aug. 23 to enforce the blockade against Iran. Iran's Ports and Maritime Organisation has warned violators of Strait of Hormuz protocols of fines, detention, or confiscation, and President Trump has renewed his claim over the waterway.
Several senior White House aides, including Press Secretary Karoline Leavitt and legislative affairs director James Braid, are leaving as the administration braces for a potentially turbulent second half. Officials and analysts cite concerns about Republican losses, congressional investigations, and post-government career prospects.
Volkswagen CEO Oliver Blume warned that the company is in a 'more than critical' state, citing global headwinds, Chinese competition, and overproduction. The carmaker is considering significant job cuts and may repurpose plants, while the IG Metall union has vowed resistance. Blume is set to defend saving plans in upcoming staff meetings.
Lando Norris won a dramatic Dutch Grand Prix, his second straight victory, after Max Verstappen crashed on the opening lap. Kimi Antonelli finished second and extended his championship lead, while the race marked Zandvoort's farewell to the F1 calendar.
Editorial cartoonists this week focused on the U.S. national debt surpassing $40 trillion, drawing attention to President Trump's role, while others highlighted reported problems aboard the USS Abraham Lincoln and contrasted ICE's equipment with that of overseas troops.
Iran announced the discovery of a gas field containing over 7.5 trillion cubic feet of natural gas in Fars province, with about 5.7 trillion cubic feet recoverable. The announcement comes as Iran faces US sanctions and blockade, and as repairs continue at its South Pars field.
In his National Day Rally speech, Prime Minister Lawrence Wong described a more contested and dangerous world, urging Singapore to deepen global ties and strengthen ASEAN unity. He emphasised that trust, built on the rule of law and strong institutions, remains the nation's key asset. A forum piece reflected on Singapore's visionary planning and the new leadership's willingness to listen.
House Democratic Leader Hakeem Jeffries met privately with Jared Kushner, President Trump's son-in-law and adviser, to discuss potential areas of common ground such as housing, immigration, and cost of living. The meeting, first reported by The New York Times and confirmed by multiple outlets, has drawn reactions from both parties, with Speaker Mike Johnson downplaying its significance while some Democrats express concerns.