Markets

A heatwave in South Korea is causing agricultural devastation, leading to soaring prices for essential produce like watermelons, napa cabbage, and radishes. Watermelon prices have jumped 36.5% year-on-year and 22.5% in one week. Napa cabbage prices are up 27.4% weekly, and radishes 15.9%. Insufficient sunlight in June compounded the problem. The government plans to implement measures to stabilize supply and demand to address potential crop losses and control rising prices. Online, consumers are reacting to the increased prices.

A photo of NVIDIA’s Jensen Huang and Xiaomi’s Lei Jun has surfaced, sparking speculation about collaboration. NVIDIA offered a vague response about the image, and sources indicate it’s from a private client visit. The photo’s timing is unknown. This emerges before Huang’s expected appearance at the China International Supply Chain Expo. Huang and Lei have a history, dating back to 2013 when Huang promoted NVIDIA’s Tegra chips at a Xiaomi launch event, emphasizing the importance of the Chinese market.

Ellomay Capital (ELLO) announced a private placement of 926,000 shares to Israeli investors at NIS 54 per share, expecting NIS 50 million gross proceeds. Menora Mivtachim will acquire approximately 6% ownership. Closing is expected in July 2025, pending regulatory approval. Proceeds will be used for general corporate purposes. The placement offers a slight discount to recent trading prices. Existing shareholders may experience dilution.

Xiaomi’s REDMI is venturing into short-form entertainment with “Time-Traveling Partners,” premiering July 17th. This “hardcore time-travel entrepreneurial saga,” a collaboration with Douyin and Wanhe Tianyi, will feature REDMI’s K80 Supreme Edition and K Pad tablet. Notably, Xiaomi China’s Marketing Director Wang Teng and REDMI Product Manager Hu Xinxin star in the series. The move has sparked interest in a potential cameo from Xiaomi CEO Lei Jun, following his past acting experience.

Yonghui Superstores is increasingly emulating Pang Dong Lai, a popular Chinese supermarket chain. Yonghui has applied for “Pang Xiao Hui” trademarks across multiple categories, following prior registration of “Pang Yonghui” trademarks. They have renovated 128 stores with Pang Dong Lai-inspired layouts and service, aiming for 200 stores by September 30th with 80% product alignment. Yonghui also declared a zero-tolerance policy on internal corruption, requiring suppliers to apply through official channels, ensuring fairness and transparency.

The Global Property Expo, organized by JLL, will be held at the Sands Expo & Convention Centre in Singapore from July 18-20, 2025. This event provides Singaporeans with opportunities to explore international residential properties from over 20 countries. Attendees can access expert-led talks and connect with developers, legal advisors, and mortgage specialists. The expo aims to equip buyers with the knowledge and resources needed for overseas property investment, including insights into market trends, financing, and legal considerations, and residency implications.

After four years, the “Tesla Brake Gate” saga sees Tesla executives reflecting on owner support after a Shanghai Auto Show protest in 2021. A court upheld a verdict against the protesting woman for reputational damage, ordering her and an organizer to pay Tesla damages totaling approximately $59,000. Tesla claims the incident cost them millions. However, the woman maintains the verdict doesn’t validate Tesla’s brake safety, and a separate data-related case concerning brake malfunctions is still under review. The core question of vehicle safety remains open.

MINISFORUM has launched the 795S7 SE mini-desktop PC, featuring an AMD Ryzen 9 7945HX processor and the BD795i SE motherboard. The compact 7L chassis houses a 400W power supply, supports up to 96GB DDR5 memory and 8TB M.2 storage. It also accommodates a half-height discrete graphics card. Connectivity includes USB 3.2, USB 2.0, Type-C, HDMI, DisplayPort, and Ethernet. The 795S7 SE is available for purchase, starting at approximately 4119 RMB for the 32GB RAM/1TB SSD configuration.

A controversy erupted involving Ukrainian Counter-Strike player Zeus and a Chinese university student from Dalian University of Technology. Zeus reportedly shared photos implying a relationship with the student, Li Xinshi, who is now facing expulsion for “inappropriate behavior” that had a “negative impact.” Zeus claims he was unaware she had a boyfriend and respects Chinese culture. He deleted the videos and denies rumors of marriage, emphasizing his regret over the situation and condemning hateful comments.

AI programming startup Windsurf has abandoned a $3 billion acquisition by OpenAI in favor of a $2.4 billion licensing deal with Google. Google’s DeepMind is recruiting Windsurf’s key personnel, including its CEO and co-founder. Google gains a non-exclusive license to Windsurf’s technology. This collaboration signals a trend of tech giants leveraging talent acquisition and licensing instead of outright acquisitions. Windsurf’s head of operations will become interim CEO, and the majority of the team will remain, ensuring business continuity. Windsurf’s rapid growth and developer-focused AI programming tools made it a target for both OpenAI and Google.