Daily Buzz: 19 May 2025
Top News
Trump-Putin talks
US President Donald Trump said he will speak by phone with Russian Vladimir Putin on Monday to discuss an end to the war in Ukraine. "The subject of the call will be stopping the bloodbath that has killed, on average, more than 5,000 Russian and Ukrainian soldiers a week," Trump said on his social media account.
The president said he will speak with Ukrainian President Volodymyr Zelensky and various NATO members after his call with Putin.
Delegations from Russia and Ukraine met in Istanbul on Friday for the first direct talks in more than three years, but no progress was reported on a ceasefire proposed by Trump and endorsed by Ukraine.
On Sunday, Zelensky met US Vice President JD Vance and Secretary of State Marco Rubio on the sidelines of Pope Leo's inauguration in the Vatican, Reuters reported.
European elections
Bucharest liberal Mayor Nicusor Dan was leading right-wing nationalist George Simion in the runoff of the Romanian president election, garnering 54 percent of the vote in results from about 98 percent of polling stations.
In Poland, Warsaw liberal Mayor Rafal Trzaskowski narrowly won the first round of voting in a presidential election with 31 percent of the vote, just ahead of Law and Justice Party candidate Karol Nawrocki. The top two candidates will face a run-off election.
In Portugal, the center-right Democratic Alliance claimed victory in parliamentary elections but fell short of a majority.
Israel to ease blockade
Israel, which has come under intense international pressure for its blockade on food and medicine supplies to Gaza, said on Sunday it will ease the embargo and let "limited amounts" enter. The Israeli army is engaged in ground operations in the coastal enclave, killing hundreds of Palestinians in the past week.
Biden cancer diagnosis
Former US President Joe Biden, 82, has an aggressive form of prostate cancer that has spread to his bones, his personal office announced on Sunday. The Biden family is discussing treatment options with doctors, the statement said.
Top Business
Nvidia halts Hopper chips
US chip giant has dropped plans to launch new Hopper-series chips for China, Chief Executive Jensen Huang said, citing US government restrictions on exports of advanced artificial-intelligence chips. He said his company is reassessing its China strategy following curbs on export of its H20 chips, part of the Hopper architecture, to China.
Walmart gets a mouthful of advice
US President Donald Trump said on Sunday that US retail giant Walmart should "eat" any effects of his tariffs and stop blaming them for price increases announced by the company. Walmart said on Thursday that it will have to raise prices on some goods because of tariffs imposed on imports from China. The US and China have agreed to a 90-day lowering of bilateral tariffs while trade talks take place, but duties on Chinese goods remain at about 30 percent.
Robots a hit on the red carpet
Humanoid robots hit the "catwalk" as the 2025 Shanghai Science Festival opened over the weekend. Among the robots is the N1 model, which is capable of operating for more than two hours on a single charge.
The 1.7-meter-tall A2 robot developed by Agibot performed a tai chi routine on the red carpet. "The pace of development is incredible," said Wang Chuang, Agibot's general product line president. "Last year, robots still stumbled while walking. This year, they're performing."
Faster communications
Shanghai is upgrading its digital infrastructure related to both 5G and artificial intelligence technologies. The upgrades span realms such as weather forecasting and Metro line management, alongside practical applications such as an AI-powered walking stick designed to assist the elderly.
The Shanghai Communications Administration said by 2027, the city will have established 120,000 5G base stations and 30,000 advanced 5G stations, promising mobile Internet speeds up to 10 times faster than the current network.
Economy
Anti-dumping duties
China announced anti-dumping duties as high as 75 percent on imports of POM copolymers, an engineering plastic, from the US, European Union, Japan and Taiwan. POM copolymers can partially replace metals such as copper and zinc, and have applications in auto parts, electronics and medical equipment, the Commerce Ministry said, concluding a probe it initiated a year ago.
China eases US debt holdings
China dropped to third from second among foreign creditors holding US Treasury bonds in March, new US Treasury Department data show. China's bond holdings slipped to US$765.4 billion from US$18.9 billion in February. The UK took over the No. 2 spot with holdings of US$779.3 billion. Japan remained the biggest holder of US debt at US$1.13 trillion. Foreign holdings rose for a third straight month in March to a record US$9.05 trillion.
US Treasuries fund the nation's deficit spending. Moody's Ratings cut the sovereign credit rating of the US on Friday to Aa1 from AAA, citing concerns about the widening deficit. Lower credit ratings increase the cost of borrowing.
Corporate
C919 flies new Shanghai-Shenzhen route
China Eastern Airlines has opened a regular commercial route between Shanghai and the southern city of Shenzhen, using the domestically manufactured C919 aircraft. On Sunday, the first flight left Shanghai. It's the 13th route the airline has opened for the narrow-body jetliner. China Eastern Airlines has ordered 105 C919 aircraft.
Toyota's new model in China
The new Toyota bZ5, a "smart" electric model, rolled off the production line at a facility of Chinese joint-venture partner FAW Toyota Motor in the northern city of Tianjin last week, signaling the car's official debut in the Chinese market.
Dingdong shares drop after QI results
Dingdong Ltd, a Shanghai-based online fresh-grocery company registered in the Cayman Islands and traded in New York, reported first-quarter profit declined 27 percent from a year earlier to 30.3 million yuan (US$4.2 million), falling short of analysts' expectations. However, revenue exceeded forecasts with a 9.1 increase to 5.5 billion yuan. The company's shares fell 2.5 percent after the results were released.
Tencent's AI ambition
Chinese Internet giant Tencent has vowed to ramp up investment in artificial intelligence technologies. In the first quarter of 2025, Tencent's investment in the sector surged 21 percent year from a year earlier to US$2.63 billion.
