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Real-time News
August 24th - At 11:50 AM on August 24th, after comprehensive assessment and emergency consultation, the China Meteorological Administration upgraded its emergency response to major meteorological disasters (typhoons and rainstorms) from Level IV to Level III (typhoons, rainstorms, and severe convective weather). The National Meteorological Center forecasts that, affected by the typhoon and the southwest monsoon, from August 24th to 26th, Fujian, Guangdong, Guangxi, and Hainan will experience heavy rainfall, with strong winds in the Beibu Gulf, Taiwan Strait, East China Sea, and coastal areas. Furthermore, on the 24th, Liaoning and Jilin provinces will experience localized heavy rainfall, and from the 25th, eastern Northwest China, North China, and Northeast China will experience significant rainfall from west to east, accompanied by severe convective weather. The National Meteorological Center continued to issue a blue typhoon warning, a yellow rainstorm warning, and a blue severe convective weather warning at 10:00 AM on the 24th.August 24th - According to the Financial Times, sources familiar with the matter revealed that Saudi Arabia has begun discussions with London insurance brokers regarding a state-backed war and political risk insurance scheme that could provide insurance coverage for ships in the region, as the conflict threatens Saudi trade. The Saudi Ministry of Finance is studying a plan that would allow ships and maritime cargo assets to obtain insurance at a lower cost through a so-called "insurance pool." This pool could provide up to 700 million Saudi riyals ($186 million) in commercial coverage for each insured event. Insurance and reinsurance companies would provide the first layer of insurance coverage, while each insured entity could receive hundreds of millions of dollars in additional coverage through backup support provided by the state-owned Saudi Export-Import Bank. In one version of the proposal under discussion, Saudi Reinsurance and Riyadh Reinsurance would lead a group of participating reinsurance companies, which could potentially include international companies.On August 24th, it was reported that on August 20th, the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) convened a meeting to promote the 6G future industry among central enterprises. The meeting emphasized that promoting the development of the 6G future industry is an inevitable requirement for central enterprises to implement national strategic plans and fulfill their strategic missions. Central enterprises should proactively align with national, local, and industry plans to accelerate the achievement of industrial development goals. They must address technological shortcomings, strengthen fundamental theoretical innovation, promote breakthroughs in key technologies and components, and build a secure and stable 6G industrial and supply chains. They must solidify the industrial foundation by strengthening innovation platform construction, cultivating market entities, and developing a talent pool to solidify the foundation for high-quality 6G development. They must accelerate international cooperation, build a diversified cooperation system, and comprehensively enhance their international influence. They must incubate application scenarios and actively promote the integration of 6G technology with the real economy, comprehensively build a first-mover advantage in the application ecosystem, and accelerate the realization of a 6G commercial closed loop. Prior to the meeting, attendees visited an exhibition showcasing the achievements of central enterprises in the 6G future industry. At the meeting, a task for the co-creation of 6G future industry scenarios among central enterprises was released.Q Technology (01478.HK): Gross profit for the first half of 2026 was approximately RMB 652 million, a slight decrease of 0.4% year-on-year.August 24 - According to the Philippine Institute of Volcanology and Seismology (PHIVOLCS), a magnitude 5.0 earthquake struck the southern waters of the Philippines at approximately 11:59 a.m. on August 24. The epicenter was at a depth of 10 kilometers, and tremors were felt in nearby areas. No damage is expected. PHIVOLCS stated that this earthquake was an aftershock of several strong earthquakes that struck the southern Philippines in June.
