Global Pulse

作者： admin

  • Nepal’s newly elected parliament is sworn in months after a youth-led revolt

    Nepal’s newly elected parliament is sworn in months after a youth-led revolt

    KATHMANDU, Nepal — Nepal’s political establishment witnessed an unprecedented transformation on Thursday as newly elected parliamentarians took their oaths of office, with a remarkable two-thirds majority belonging to a party established less than four years ago. The Rastriya Swatantra Party (RSP), fronted by former rapper turned political phenomenon Balendra Shah, achieved a landslide victory in the nation’s first electoral contest following last year’s youth-led uprising.

    The 275-member House of Representatives, which constitutes the powerful lower chamber of Nepal’s parliament, will see these representatives serve five-year terms. The RSP secured an overwhelming mandate through both direct elections and proportional representation, capturing 125 directly elected seats supplemented by 57 additional seats through the proportional system. This combined total of 182 seats dramatically surpasses the second-place Nepali Congress party, which managed only 38 seats.

    Shah, anticipated to be formally nominated as prime minister following a party leadership confirmation, is scheduled to assume office on Friday after presidential appointment. His political ascent began with a surprising victory in the 2022 Kathmandu mayoral race before emerging as a central figure in the 2025 popular revolt that ultimately unseated former Prime Minister Khadga Prasad Oli.

    The RSP’s extraordinary electoral performance represents a direct challenge to Nepal’s traditionally dominant political forces, notably the Nepali Congress and the Communist Party of Nepal (Unified Marxist–Leninist). Last year’s widespread demonstrations, initially sparked by government-imposed social media restrictions, rapidly evolved into a full-scale uprising addressing systemic corruption and governance failures. The protests turned deadly when security forces opened fire on demonstrators attacking government installations, resulting in numerous fatalities and hundreds injured.

  • Ex-Taiwan presidential hopeful sentenced to 17 years for corruption

    Ex-Taiwan presidential hopeful sentenced to 17 years for corruption

    In a landmark judicial ruling that has sent shockwaves through Taiwan’s political landscape, former Taipei Mayor Ko Wen-je has been sentenced to 17 years imprisonment following his conviction on corruption and campaign finance violations. The Taipei District Court found the 65-year-old political maverick guilty of accepting approximately NT$17.1 million (US$535,000) in bribes connected to a real estate development project during his mayoral tenure, alongside charges of misreporting political donations during his 2024 presidential campaign.

    Ko, who founded the Taiwan People’s Party (TPP) and emerged as a significant third-force in Taiwanese politics, maintained his innocence throughout the proceedings. His legal team had vigorously contested the allegations, characterizing them as politically motivated maneuvers by the ruling Democratic Progressive Party (DPP) to eliminate opposition voices.

    The sentencing fell significantly short of the 28-year term prosecutors had initially sought, though it nonetheless represents one of the most severe penalties ever imposed on a Taiwanese political figure of Ko’s stature. The former mayor, who was arrested in 2024 but released on bail last September, now faces the prospect of extensive incarceration unless his anticipated appeal proves successful.

    Ko’s political trajectory had been remarkable: his 2024 presidential bid captured over 25% of the popular vote, finishing a competitive third behind winner Lai Ching-te (40%) and another opponent. This performance demonstrated substantial voter appetite for alternatives to the traditional DPP-Kuomintang (KMT) dichotomy that has long dominated Taiwan’s politics.

    Outside the courthouse, tensions flared as supporters gathered to protest what they decried as judicial persecution. Kenny Yang, a 52-year-old supporter, told AFP that regardless of the verdict, Ko’s backers would ‘continue to support him and help him seek justice,’ adding that they ‘cannot allow Taiwan to become a society without a sense of right and wrong.’

    The case has ignited intense debate about political justice in Taiwan, with Ko’s TPP allies accusing the ruling administration of weaponizing the judicial system against opponents. Current TPP Chairman Huang Kuo-chang has consistently denounced the charges as baseless and politically driven.

    Prior to his legal troubles, Ko had positioned himself as a pragmatic alternative to both the Beijing-skeptic DPP and the China-friendly KMT, criticizing the former for escalating cross-strait tensions while faulting the latter for excessive deference to Beijing. Despite this setback, Ko had previously expressed intentions to pursue the presidency again in 2028, though his political future now appears uncertain.

  • G7 meets in France to mend transatlantic rupture on Iran

    G7 meets in France to mend transatlantic rupture on Iran

    Foreign ministers from the Group of Seven nations commenced a critical two-day gathering outside Paris on Thursday, aiming to repair transatlantic fractures over Middle East policy while maintaining focus on multiple global crises. The meeting at Vaux-de-Cernay Abbey unfolds against a backdrop of escalating tensions, with the White House threatening to unleash severe consequences if Iran refuses to cease hostilities.

    In a departure from diplomatic norms signaling profound policy divergences, the session will conclude without a traditional joint communique. Instead, the French presidency will issue a singular statement, according to anonymous diplomatic sources. This procedural shift underscores the challenging negotiations between the United States and its European allies regarding appropriate responses to Iran’s regional activities.

    US Secretary of State Marco Rubio joins the discussions on Friday, marking his first international engagement since the conflict’s inception. He will convene with counterparts from Canada, Germany, Italy, France, Japan, and the United Kingdom amid growing concerns about regional escalation. French Foreign Minister Jean-Noel Barrot emphasized the meeting’s objective to address “major global imbalances” contributing to current international tensions.

    The agenda includes dedicated sessions on global governance reform, Iran, and Ukraine. Notably, France has expanded participation by inviting representatives from Brazil, India, Ukraine, Saudi Arabia, and South Korea—recognizing the need for broader engagement beyond the traditional G7 framework.

    European leaders expressed particular concern about Trump administration policies, with German Finance Minister Lars Klingbeil citing “misguided policies” negatively affecting Germany’s economy. Meanwhile, British Foreign Minister Yvette Cooper noted with concern how the Iran situation has diverted attention from Gaza and West Bank violence.

    Despite these tensions, Barrot reaffirmed the G7’s unwavering support for Ukrainian resistance against Russian aggression, emphasizing continued pressure on Moscow over four years into the full-scale invasion.

  • HK’s safe-haven appeal to capital lauded

    HK’s safe-haven appeal to capital lauded

    Amid escalating geopolitical tensions and shifting international dynamics, Hong Kong is reinforcing its position as a premier safe harbor for global capital through its unique combination of institutional stability, growth potential, and technological advancement. The special administrative region’s appeal was prominently showcased during the fourth Wealth for Good Summit, which attracted approximately 400 family office decision-makers and successors from across Asia, Europe, the Americas, Oceania, and Africa.

    Co-hosted by the Financial Services and the Treasury Bureau alongside Invest Hong Kong, the ‘Building Lasting Legacies’ themed summit facilitated cross-sector dialogues exploring innovative approaches to intergenerational wealth management, cultural legacy development, philanthropic initiatives, and technological innovation.

    Financial Secretary Paul Chan Mo-po emphasized Hong Kong’s distinctive advantages during the summit’s gala dinner, stating: ‘Families seeking to preserve their legacy look for a safe haven—not merely a place to park capital, but a environment offering institutional strengths, legal clarity and credible commitments.’

    The data substantiates Hong Kong’s growing prominence: assets under management surged 13% annually to exceed $4.5 trillion in 2024—equivalent to 11 times the city’s GDP. This momentum persisted through 2025, with Hong Kong-domiciled funds recording robust net inflows of $45.8 billion. The city currently ranks as the world’s second-largest hub for ultra-high-net-worth individuals.

    Deputy Financial Secretary Michael Wong Wai-lun highlighted the city’s fundamental attractions: ‘Our common law legal system, independent judiciary, open economy, free capital flow, freely convertible currency, straightforward tax regime, and dynamic financial market collectively create an ideal environment for global family offices.’

    Significant regulatory enhancements are underway, with the SAR government preparing to expand preferential tax regimes for funds, family-owned investment holding vehicles, and carried interest by June. These reforms will grant family offices increased flexibility as qualifying investment vehicles expand to include private credit, precious metals, commodities, carbon credits, insurance-linked securities, and digital assets.

    The government has additionally implemented tax incentives to encourage philanthropic activities, while maintaining the absence of estate duty, capital gains tax, or dividend taxes—features particularly appealing to family office managers.

    Secretary for Financial Services and the Treasury Christopher Hui Ching-yu affirmed: ‘Hong Kong offers the safe harbor, policy stability, and sophisticated ecosystem that ambitious families require to transform vision into lasting impact. We remain fully committed to strengthening this foundation to position Hong Kong as a nexus of legacies and innovation.’

    The results are already materializing: Under Secretary Joseph Chan Ho-lim reported that over 20 family offices utilized InvestHK’s assistance to establish or expand their Hong Kong operations in January and February alone. As of February’s conclusion, InvestHK has facilitated 242 family offices in establishing or expanding their local presence—a 20% increase since September 2023. An additional 156 family offices are presently preparing or have committed to establishing operations in Hong Kong, with 60% originating from the Chinese mainland and Hong Kong, and the remainder from Europe, the United States, the Middle East, and other regions.

    Chan further noted that established family offices can leverage Hong Kong’s efficient refinancing platform for share placements, bond issuances, and diverse business operations, thereby expanding market breadth and depth. The evolving family office ecosystem is maturing into a powerful network that connects various family offices with alternative or impact investing opportunities, enabling effective resource integration.

  • ‘A game-changing moment for social media’ – what next for big tech after landmark addiction verdict?

    ‘A game-changing moment for social media’ – what next for big tech after landmark addiction verdict?

    A groundbreaking jury verdict in Los Angeles has delivered a seismic blow to tech giants Meta and Google, ruling their platforms Instagram and YouTube deliberately engineered addictive features while negligently failing to protect young users. The court ordered both companies to pay $6 million in damages to Kaley, a plaintiff who developed severe body dysmorphia, depression, and suicidal thoughts after using the platforms.

    The ruling represents a potential watershed moment for social media regulation globally. Legal experts describe it as ending the ‘era of impunity’ for technology companies that have historically operated with limited liability for user harm. Despite immediate appeals from both defendants—with Meta arguing no single app bears sole responsibility for teen mental health crises, and Google disputing YouTube’s classification as a social network—the verdict establishes critical precedent.

    Internal whistleblower testimony proved damning during proceedings. Former Instagram executive Arturo Bejar revealed he had warned CEO Mark Zuckerberg years ago about the platform’s dangers to children, stating the service evolved from ‘a product you used to a product that uses you.’ Meta has denied these allegations.

    The case exposes fundamental tensions between engagement-driven business models and user welfare. Social platforms rely on infinite scrolling, algorithmic recommendations, and autoplay features to maximize advertising exposure—practices now facing unprecedented legal scrutiny. While TikTok and Snap settled similar claims pre-trial, Meta and Google invested enormous resources in their defense, indicating the verdict’s profound commercial implications.

    Globally, regulatory momentum is building. Australia has already implemented under-16 social media bans, while the UK parliament debates similar restrictions through the Children’s Schools and Wellbeing Bill. This verdict strengthens arguments for age-gated access worldwide, with bereaved parents like Ellen Roome—whose son died following an online challenge—demanding immediate action.

    Legal scholars compare this moment to Big Tobacco’s historical reckoning, suggesting mandatory health warnings, advertising restrictions, and potential revisions to Section 230 protections that shield tech companies from content liability. As dozens of similar lawsuits advance through US courts, this ruling fundamentally redefines accountability standards for digital platforms engineered for maximum engagement.

  • Chinese researchers develop high-efficiency thin-film photovoltaic for space energy

    Chinese researchers develop high-efficiency thin-film photovoltaic for space energy

    Chinese researchers have made a significant advancement in photovoltaic technology with the development of a high-efficiency thin-film solar cell specifically designed for space applications. The breakthrough comes from the Institute of Physics at the Chinese Academy of Sciences, where scientists have achieved a certified efficiency rating of 16.6% for their CZTSSe photovoltaic technology.

    This innovation addresses critical needs in space infrastructure development and deep-space exploration, where solar technology must meet stringent requirements including lightweight design, radiation resistance, long operational lifespan, and sustainable resource utilization. The CZTSSe technology, composed of abundant elements including copper, zinc, and tin, offers distinct advantages over conventional solar solutions through its environmental friendliness, cost-effectiveness, and natural resistance to space radiation.

    Led by researcher Meng Qingbo, the team overcame fundamental challenges in material crystallization, atomic structure, and defect control. Their novel approach involved developing an atomic vacancy strategy that guides the precise positioning of copper and zinc atoms within the material matrix. This breakthrough fundamentally reduces defect activity and minimizes internal energy losses, resulting in significantly improved performance.

    The research team has already developed flexible cells and modules based on this technology, with the current efficiency level providing a solid foundation for industrial applications. Scientists project that once cell efficiency approaches 20% and module efficiency reaches 18%, enabling mass production, the technology will become commercially competitive and widely applicable in aerospace equipment and other advanced scenarios.

  • China to open 10 major scientific facilities to international academia in 2026

    China to open 10 major scientific facilities to international academia in 2026

    In a groundbreaking move for global scientific collaboration, China has announced it will grant international researchers access to ten of its most advanced scientific facilities throughout 2026. The announcement was made during the opening ceremony of the Zhongguancun Forum Annual Conference in Beijing, marking a significant step in international scientific cooperation.

    The facilities opening to global academia represent China’s cutting-edge research infrastructure, including the remarkable Five-hundred-meter Aperture Spherical Radio Telescope (FAST) in Guizhou province—the world’s largest single-dish radio telescope. Also available will be the Space Environment Simulation and Research Infrastructure in Heilongjiang province and the Experimental Advanced Superconducting Tokamak nuclear fusion research facility in Anhui province, among other premier installations.

    This initiative forms part of the Action Plan for International Cooperation in Open Science, launched collaboratively by China and international partners in 2025. The program aims to establish a more transparent, equitable, and non-discriminatory global environment for scientific and technological advancement. The move aligns with China’s broader strategy of driving innovation through high-level international partnerships, as outlined in the recently released 15th Five-Year Plan (2026-30) for national economic and social development.

    The policy framework emphasizes creating an open innovation ecosystem with global competitiveness while supporting collaborative efforts among scientists worldwide to address fundamental and frontier scientific challenges. This unprecedented access to China’s scientific infrastructure represents a new chapter in global research cooperation, potentially accelerating breakthroughs across multiple scientific disciplines.

  • Data product IPs drive value creation in Shanghai

    Data product IPs drive value creation in Shanghai

    Shanghai has emerged as a pioneering force in data intellectual property commercialization, generating approximately 19.6 billion yuan ($2.84 billion) in economic value through its groundbreaking data product IP registration system. The municipal initiative, launched in December 2024 as China’s first comprehensive data IP framework, has transformed how digital assets are valued, traded, and leveraged within the commercial ecosystem.

    The Shanghai Intellectual Property Administration (SIPA) revealed that 837 registered data products have facilitated economic activity through licensing agreements, market transactions, and service fees as of February 2026. Beyond direct monetization, the program has enabled 16 enterprises to secure 355 million yuan in loans using their data IP as collateral, demonstrating the tangible asset value now attributed to processed digital resources.

    Industry analysts characterize the IP registration mechanism as the critical bridge converting raw data from mere resource to recognized asset class. The framework establishes legal rights for individuals and entities over data resources that undergo substantial processing and innovation, creating commercially valuable intellectual assets. These rights encompass three primary categories: data processing collections, processed data products, and proprietary technical algorithms.

    SIPA officials emphasized that data has evolved into a fundamental production factor within modern economies, with proper ownership confirmation and registration serving as essential prerequisites for value creation. The administration has received over 1,500 registration applications since program inception, granting certification to more than 1,100 qualified data products from nearly 600 legal entities and 200 individuals.

    The applicant pool reflects Shanghai’s innovative economic structure, with over 80% representing high-technology enterprises or specialized innovative firms according to Xu Shang, head of SIPA’s strategic planning division. Registered products predominantly address artificial intelligence and biopharmaceutical applications—sectors aligned with Shanghai’s strategic industrial priorities—while also spanning financial services, educational resources, cultural content, and transportation systems.

    Notably, the judicial system has recognized data IP certificates as valid evidence in infringement cases. A landmark 2025 ruling by Nanjing Intermediate People’s Court awarded Taobao 30 million yuan in damages after the e-commerce platform successfully demonstrated proprietary rights over its processed data products. The case involved malicious data scraping through unauthorized browser plugins that circumvented Taobao’s commercial data services, generating approximately 23 million yuan in illicit revenue.

    This legal precedent reinforces the program’s significance in protecting data innovation investments while establishing clear ownership frameworks for derivative data products. Shanghai’s model demonstrates how systematic data IP management can accelerate digital economic growth while providing legal protection for increasingly valuable digital assets.

  • Israel strikes Iran as Tehran rejects US talks overture

    Israel strikes Iran as Tehran rejects US talks overture

    Tensions in the Middle East reached new heights on Thursday as Israeli forces conducted extensive military operations against multiple Iranian targets. The offensive, described by the Israeli military as “wide-scale strikes targeting infrastructure,” hit locations in central cities including Isfahan and Shiraz, along with southern Bandar Abbas, northwestern Tabriz, and northeastern Mashhad—a region previously largely unaffected by the conflict.

    This escalation comes amid diplomatic tensions after Iran’s Foreign Minister Abbas Araghchi explicitly rejected negotiations with the Trump administration, stating on national television that Tehran’s current policy remains “the continuation of resistance.” While acknowledging message exchanges through “friendly countries,” Araghchi emphasized that “no negotiations have taken place.”

    The conflict, which began with joint US-Israeli attacks on February 28, has expanded dramatically across the region. Iran maintained its retaliatory measures against Israel, with medical officials reporting six people lightly wounded from missile attacks in central Israel. Meanwhile, the Gulf region witnessed fresh violence as debris from an intercepted Iranian ballistic missile killed two people near Abu Dhabi. Saudi Arabia reported intercepting at least 18 drones, while Kuwait confirmed additional missile and drone attacks.

    Economic implications continued to concern global markets, particularly regarding Tehran’s partial blockade of the Strait of Hormuz—a critical passageway for approximately 20% of the world’s oil and gas. Although crude prices had declined recently as the Trump administration appeared to step back from regime change objectives, Thursday’s developments caused renewed market volatility.

    Diplomatic efforts faced additional complications as details emerged of a purported 15-point US peace plan reportedly communicated through Pakistan. However, Iran’s state-controlled media indicated Tehran had “responded negatively” and instead presented its own five conditions for ending hostilities, including guarantees against resumed attacks and compensation for damages.

    President Trump maintained at a Wednesday dinner with lawmakers that Tehran desired negotiations but feared acknowledging them publicly. “They’re afraid to say it because they figure they’ll be killed by their own people,” he stated, adding, “They’re also afraid they’ll be killed by us.”

    The conflict has drawn in additional regional actors, with Hezbollah launching over 80 attacks against Israel on Wednesday—the largest daily number in the current conflict—and targeting Israeli forces in nine border towns. Israeli Prime Minister Benjamin Netanyahu claimed the military had “created a genuine security zone” in southern Lebanon, where an Israeli soldier was killed in fighting on Thursday.

  • Australians worry about fuel supplies

    Australians worry about fuel supplies

    Australia is confronting a severe fuel supply crisis as escalating Middle East tensions trigger widespread panic buying and send gasoline prices to unprecedented levels. The situation has prompted authorities to implement emergency measures while urging consumers to avoid stockpiling behaviors that exacerbate shortages.

    According to New South Wales’ official fuel monitoring platform, Premium 95 gasoline reached a record A$2.58 per liter on Monday, significantly exceeding the previous high of A$2.27 recorded just twelve days earlier. Gas stations across the nation are displaying substantially higher prices while implementing purchase limitations and anti-hoarding notices. National broadcaster ABC reports that rural and regional stations are experiencing particularly acute shortages due to consumer stockpiling.

    Despite the visible disruptions, government officials maintain that adequate fuel supplies continue entering the country. The crisis stems primarily from the effective closure of the Strait of Hormuz, which has disrupted crude oil shipments from Australia’s primary suppliers in the Asia-Pacific region.

    Financial expert Lurion De Mello of Macquarie University warned that panic purchasing “risks creating the very shortages we are worried about,” noting that while gasoline supplies remain relatively secure, Australia’s diesel-dependent economy faces greater vulnerability to supply chain interruptions.

    University of Sydney supply chain management professor Ben Fahimnia characterized the situation as “primarily an upstream supply disruption” exacerbated by consumer behavior. He explained that panic buying creates false demand signals that ripple through the entire supply chain, ultimately driving prices higher across transportation and production systems.

    In response to the crisis, Prime Minister Anthony Albanese met with International Energy Agency Executive Director Fatih Birol and announced the release of 20% of national fuel reserves following agency recommendations. The government has implemented additional measures to secure supply chains and address distribution challenges.

    The Middle East conflict has simultaneously disrupted global liquefied natural gas supplies, driving international prices upward. ABC reports the Australian government is considering implementing a “windfall tax” on the domestic LNG industry to address resulting economic pressures.