President Xi Jinping has told his US counterpart Donald Trump that China and the United States should enhance dialogue and build mutual trust and respect, to advance towards peaceful coexistence and win-win cooperation. During a phone call between the leaders, President Xi also said Taiwan is the most important issue in the China-US relationship, cautioning Trump that Washington must handle the issue of arms sales to the island with prudence. Cecil Wong reports:

The call with the US president comes after President Xi held a virtual meeting with Russian president Vladimir Putin. During the meeting, Xi said that Beijing and Moscow should increase high-level exchanges and strengthen pragmatic cooperation in various fields. Elvis Yu reports:

The director of Beijing's liaison office in Hong Kong, Zhou Ji has said that the central government will continue to support the SAR in integrating into and serving the overall national development. Elvis Yu has the details:

Financial Secretary Paul Chan says the budget that he will unveil in three weeks' time will include plans for Hong Kong to align with -- and contribute to -- the nation's 15th Five-Year Plan. His remarks follow the first ante-chamber exchange session of the new Legco term. The discussions between officials and lawmakers focused on the country's developmental roadmap over the next five years. Natasha Ho reports.

Police have said that a local couple and two doctors have been arrested in connection with a multi-year insurance fraud operation, cracking down on a new variant of "crash-for-cash" scams. Aaron Tam has more.

DAB lawmaker Brave Chan has called on the government to persuade top international enterprises to invest in the Northern Metropolis. This comes as the administration works on designated laws that simplify statutory procedures to speed up the development of the project. Damon Pang reports.

The government revealed plans to build a 5,000sqm exhibition hall in the Northern Metropolis to showcase the mega project in the New Territories. As Frank Yung reports, this follows a shelved proposal for a gallery to highlight Hong Kong's major developments.

Peter Yan, Director General of the Office for Attracting Strategic Enterprises says mainland companies can use Hong Kong as a staging point to go global. Speaking to Natasha Ho after an event hosted by the Hong Kong Productivity Council, Yan talked about the role Hong Kong can play:

The government says an emergency phone alert was not sent out over the Tai Po blaze last November because it was only a district-level incident. Damon Pang has the story.

The government says there might be limitations in featuring waterfront promenades as part of the route for the annual Hong Kong marathon. Frank Yung has the details.

Organisers of the Lam Tsuen Well-Wishing Festival are expecting more locals and tourists to join in the traditional event in Tai Po later this month. In a first, villagers in the area will have a float in the Chinese New Year Night Parade in Tsim Sha Tsui. Charlie Chun has more.

CK Hutchison says its subsidiary Panama Ports Company, or PPC, has started international arbitration proceedings against Panama. This came after the top court in the central American country annulled a concession allowing PPC to operate ports at the Panama Canal. Altis Wong reports.

Israeli tank shelling and airstrikes have killed 23 Palestinians, including seven children. The strikes mark the latest violence to undermine a truce in the enclave. Elsewhere on Wednesday, Israel appeared to temporarily close the newly opened Rafah crossing to Egypt. Jamie Clarke reports:

Telegram founder Pavel Durov has joined fellow tech tycoon Elon Musk in slamming Spanish Prime Minister Pedro Sanchez over his plan to ban social media for under-16s. Greece could join Spain with a similar ban, which will cover children below the age of 15. But as Jamie Clarke reports, a Greek criminologist is calling for the government to target companies, not teenagers:

Democrats in the US Congress say they will try and stop President Donald Trump from shutting down the Kennedy Centre for the Performing Arts later this year. Trump sparked backlash before Christmas, when he renamed the legendary venue the "Trump-Kennedy Center". The move outraged family members of assassinated former president, John F. Kennedy, in whose memory the centre was created. Now, after a boycott by audiences and artists alike, the president says he will close the complex for a two-year transformation. From Washington, our correspondent Simon Marks reports.

The Washington Post has begun widespread lay-offs that will drastically shrink the size of the storied publication and affect all departments. According to the newspaper's spokesperson, the cuts will impact a third of all employees. One Post reporter, speaking on condition of anonymity, called the newly announced lay-offs a "bloodbath". Jamie Clarke reports:

In football... Manchester City are back in the English League Cup final for the first time in five years after a 3-1 win over holders Newcastle in the second leg of their semi-final tie. As Todd Harding tells us, the 5-1 aggregate victory sets up a heavyweight clash against Arsenal at Wembley next month:

Hong Kong is building itself into a distinctive international tennis destination through a deliberate, long-term strategy focused on hosting events and developing players. That's according to Michael Cheng, president of the Hong Kong, China Tennis Association. He told RTHK's Backchat programme that the authorities are trying to create a profile for the city as a novel tennis international destination.