Author: admin

29 Jan Flair Airlines owes $67 million in unpaid taxes as CRA opens door to seize carrier’s property

Posted at 19:45h in Canada

Court documents show Flair Airlines owes the federal government $67.2 million in unpaid taxes, prompting the Canada Revenue Agency (CRA) to obtain an order for the seizure and sale of the carrier's property.The money relates to import duties on the 20 Boeing 737 Max jetliners...

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29 Jan Hungary accuses EU of blackmail over Ukraine aid stand-off

Posted at 15:25h in Europe

Viktor Orban, Hungary's prime minister, arrives on day one of the European Union (EU) leaders summit at the EU Council headquarters in Brussels, Belgium, on Monday, May 30, 2022.Bloomberg | Bloomberg | Getty ImagesHungary accused the European Union of blackmail after a leaked document reportedly...

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29 Jan Tencent chairman Pony Ma sets confident tone for internet giant in 2024 amid WeChat’s improved business prospects, sources say

Posted at 13:26h in Asia

The 52-year-old Ma, who kept a low profile during China’s 32-month crackdown on Big Tech firms, delivered that positive message in a speech before Tencent’s annual staff meeting on Monday at a stadium in Shenzhen, the company’s home city in southern Guangdong province.Founded...

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29 Jan World’s largest cruise ship sets sail from Miami

Posted at 13:01h in Europe

Royal Caribbean's Icon of the Seas, the world's largest cruise ship, heads to the dock during its first arrival into PortMiami on Jan. 10, 2024.Pedro Portal | Tribune News Service | Getty ImagesThe world's largest cruise ship set sail from Miami, Florida over the weekend,...

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29 Jan Shanghai businessman Richard Yan sought by New Zealand liquidators for US$60 million debt he owes to collapsed construction firm

Posted at 13:00h in Asia

Liquidators of collapsed Auckland-based construction company Mainzeal are pursuing Shanghai businessman Richard Yan, holding him liable for more than US$60 million owed to the company’s creditors, in a case that has implications for Chinese businesses operating in New Zealand.Andrew McKay, a partner with business advisory...

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29 Jan Why Evergrande’s Hong Kong liquidation order is just the start of an uphill battle for its offshore creditors

Posted at 11:50h in Asia

“The court has sent a strong message to financially stressed companies about the importance of developing a concrete restructuring plan,” said Jonathan Leitch, a restructuring lawyer and partner in Hong Kong at Hogan Lovells.“If a plan does not eventually emerge, the Hong Kong Court has...

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29 Jan Disposable vapes to be banned in UK after warnings of risks to youth

Posted at 11:36h in Europe

Vape flavours for sale on display in shop window, Essex, England. Ucg | Universal Images Group | Getty ImagesThe U.K. government on Monday announced it will ban disposable vapes, citing an "alarming rise" in the number of young people using them.There will also be new restrictions...

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29 Jan Huawei’s car-making partner Seres expects reduced 2023 losses, with M7 and M9 EVs paving road to profitability

Posted at 11:08h in Asia

Seres said it expects the final tally of its 2023 losses to fall in the range of 2.1 billion yuan (US$295.6 million) to 2.7 billion yuan, which narrowed from its 3.8 billion yuan loss in 2022, according to the company’s earnings estimates last Thursday. It...

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29 Jan Sustainable aviation fuel: Hong Kong business group, Cathay Pacific lead coalition calling for policy support, collaboration on adoption

Posted at 10:30h in Asia

In his policy address last October, Chief Executive John Lee Ka-chiu tasked Airport Authority Hong Kong with formulating an action plan this year to promote SAF usage, coordinating the attainment of SAF sustainability standards certification and simplifying the approval process for SAF transport and storage.“Apart...

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29 Jan China approves 14 large language models and enterprise applications, as Beijing favours wider AI adoption across industries

Posted at 10:04h in Asia

A total of 14 LLMs and enterprise applications were recently given the green light by authorities for commercial use, according to local media reports and company announcements including those from smartphone giant Xiaomi, AI specialist Beijing Fourth Paradigm Technology Co and Beijing-based tech...

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