CHINA
Hui Ka Yan (Xu Jiayin), the founder of Evergrande – the property giant whose collapse in 2021 triggered a severe crisis in China’s property sector – has been sentenced to life imprisonment for embezzlement and corruption.
A court in Shenzhen has confiscated all his personal assets and fined Evergrande 8.82 billion yuan (1.12 billion euros), whilst the property division will have to pay a further 7 billion yuan (820 million euros). Hui had transformed Evergrande by financing its growth with enormous debts. Restrictions introduced by Beijing in 2020 led to its collapse. The collapse severely exacerbated the Chinese property crisis.
MIDDLE EAST
US President Donald Trump has announced a new and extremely tough campaign of economic pressure against Iran, following the failure of negotiations, threatening severe financial retaliation against countries that continue to aid Tehran. Iranian Foreign Minister Abbas Araghchi responded by describing the initiative as an attempt to divert attention from the United States’ domestic problems. Meanwhile, however, Iran’s economic situation continues to deteriorate: high inflation, a sharp devaluation of the rial and rising food prices are putting families under strain. According to recent figures, food inflation has reached around 128 per cent, whilst the conflict and sanctions are further exacerbating the crisis.
NORTH KOREA–UNITED STATES
Trump also stated that he will meet North Korean leader Kim Jong-un by the end of the year, claiming that North Korea possesses 57 “very powerful” nuclear weapons. Commenting on this claim, South Korean Defence Minister Ahn Gyu-back told MPs that it is generally believed that Pyongyang has between 80 and 120 nuclear warheads, whilst noting, however, that it is difficult to determine the exact number. Trump is reportedly considering a meeting with Kim during his forthcoming trip to Asia, likely to coincide with the APEC summit scheduled to take place in Shenzhen, China, in November. From Pyongyang, however, Kim Yo-jong, sister of North Korean leader Kim Jong-un, stated that she was unaware of any such contact and that North Korea considers the continuation of joint military exercises between the United States and South Korea to be more important than their reduction, as decided by Trump.
INDIA
The Manipur government has ordered the closure of schools and higher education institutions for three days due to rising tensions over the census, which is due to take place in this Indian state from 1 to 30 September. Several Meitei ethnic groups are calling for it to be postponed until the introduction of the National Register of Citizens (NRC), using 1951 as the reference year. Hundreds of students are protesting in Imphal, whilst local organisations have called for strikes and a boycott of public offices. The Meitei groups argue that the NRC is intended to identify undocumented immigrants who arrived after 1951 from neighbouring countries. The fear is that the census will reignite the ethnic tensions which, since 2023, have led to serious violence resulting in over 260 deaths.
INDONESIA
Indonesia has resumed the export of long-tailed macaques for biomedical research, setting a quota of 1,920 animals for 2026 – the first such quota in four years. The government has opened a new breeding centre in Lampung province, identifying the United States as the main market and China as a possible destination. The decision has drawn criticism from animal welfare organisations, as the species is classified as endangered, with a 40 per cent decline in its global population over the past 40 years. The Indonesian authorities, however, argue that strict controls and breeding programmes can generate economic benefits and reduce conflicts between the animals and local communities.
RUSSIA
Anti-terrorism drills began on 18 August in nurseries across Russia and are set to last several days. Over 100 nurseries across Russia have already reported the drills on social media: the children were forced to lie face-down on the floor and crouch down. In several instances, weapons were pointed at them and they were taken hostage, simulating various scenarios, such as an armed attack involving flammable liquids and the abduction of children and a teacher from one of the nursery groups.
KAZAKHSTAN
A Kazakh anti-cancer drug called Dvc is currently undergoing clinical trials in Astana. Researchers are determining the safe and effective dosage, as announced by the Minister for Scientific Research, Sajasat Nurbek, who stated that “we are currently assessing the body’s response to higher and lower doses, whilst awaiting the final results of the second phase of clinical trials. As soon as we have confirmed them, we will upload the data and begin the drug registration process”.
