Asia

06 Dec Generative AI translation lifts overseas sales of Chinese online literature industry: report

Posted at 14:00h in Asia

China’s online literature industry has enjoyed a boom in overseas sales, thanks to the rapid development of artificial intelligence (AI) technology that allows Chinese web novels to be translated quickly for foreign consumption, new research shows.In 2022, the sector raked in 4.06 billion yuan (US$572...

06 Dec Hong Kong regains appeal among global financial talent as opportunities open up in fintech, ESG and markets: HKIMR report

Posted at 12:00h in Asia

Fung was speaking at a media briefing on Wednesday to announce the release of the “Advancing Talent Development in Financial Services” report by the HKIMR, which is backed by the Hong Kong Monetary Authority and other regulators.Enoch Fung (left), executive director of Hong Kong Institute...

06 Dec Shenzhen hosts AI competition and autonomous driving data labelling firm wins top prize as support for sector hots up

Posted at 12:00h in Asia

Shenzhen has hosted an artificial intelligence (AI) competition to help identify the country’s most promising start-ups, as the technology hub in southern Guangdong province steps up its support for the hot industry sector.Konvery Data, which provides AI data labelling and automation services for autonomous driving,...

06 Dec China plans to diversify US$406 billion social security fund with ETFs, index products and more to improve returns

Posted at 11:30h in Asia

China has proposed broadening the investment scope of the nation’s 2.88 trillion yuan (US$406 billion) social security fund to include exchange-traded funds (ETFs), index funds and other financial products, in a move seen as helping diversify and improve its returns.Other options include direct investments into...

06 Dec Autonomous trucking company TuSimple to cease US operations amid new round of lay-offs, focus on Asia-Pacific business

Posted at 10:58h in Asia

Autonomous trucking company TuSimple Holdings is set to wind down its operations in the United States amid plans to cut 75 per cent of its remaining workforce in the country, according to the Nasdaq-listed firm’s latest filing.TuSimple’s board of directors approved a new...

06 Dec WuXi Bio, Meituan, Swire and Sands China get US$2.6 billion stock-buying support in Hong Kong to stem market rout

Posted at 08:30h in Asia

The stock sell-off in Hong Kong has galvanised some of the biggest companies to rush out their buy-back programmes, with WuXi Biologics, Meituan and Swire Pacific aided by US$2.37 billion of support. Casino operator Sands China got US$249 million of backing from its parent.WuXi...

06 Dec How a Hong Kong-grown company utilises banking services with global reach to expand overseas

Posted at 08:00h in Asia

[Sponsored article]Amid the fallout from the Covid-19 pandemic, the global travel sector was among the hardest-hit industries. But for one company that began life at an airport terminal, the challenges fuelled its determination to emerge stronger than ever.The Plaza Premium Group, best known for its...

06 Dec Cop28: Middle East holds immense potential for Hong Kong proptech firms to deploy energy-saving solutions

Posted at 07:08h in Asia

“The Flat Cool system is particularly well-suited for the dry and hot climate of the Middle East,” said Chan. “It is my dream to showcase our system here.”Paul Chan, chairman and co-founder of M Concept Studio, showcasing the company’s solution at Cop28 in Dubai. Photo:...

06 Dec Exclusive | TikTok owner ByteDance offers to buy back US$5 billion worth of investor shares as IPO prospects remain slim

Posted at 05:00h in Asia

Beijing-based ByteDance, the owner of TikTok, is offering to buy back up to US$5 billion worth of shares from existing investors, as its initial public offering (IPO) plan remains up in air, according to sources briefed on the matter.The price offered to investors is similar...

06 Dec Meta, IBM and Intel join alliance for open AI development while Google and Microsoft sit out

Posted at 04:30h in Asia

Meta Platforms, IBM and dozens of start-ups and researchers have launched an alliance defending a more open and collaborative method to develop artificial intelligence (AI), setting up a clash with OpenAI and Google over the technology’s future.The philosophical debate has become the central...