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26 Jan Chinese biotech firms led by WuXi Biologics sink in Hong Kong as proposed US bill cites complicity with PLA

Posted at 08:07h in Asia

Chinese biotechnology companies slumped in Hong Kong by the most in nearly two years, after a US lawmaker proposed a bill to block US companies from doing business with them, citing their alleged complicity with the military.WuXi Biologics crashed by nearly a fifth, leading the...

26 Jan China’s energy storage capacity using new tech almost quadrupled in 2023, National Energy Administration says

Posted at 07:30h in Asia

China’s energy storage sector nearly quadrupled its capacity from new technologies such as lithium-ion batteries over the past year, after attracting more than 100 billion yuan (US$13.9 billion) in direct investment over the past couple of years.Overall capacity in the new-type energy storage sector...

26 Jan Singapore venture financier InnoVen eyes China’s technology start-ups after US$130 million fundraising

Posted at 05:45h in Asia

InnoVen Capital Group, a leading Southeast Asian venture debt provider, has bulked up its cash hoard to finance China’s early-stage companies, as challenges ranging from China’s slow economic recovery to regulatory uncertainties are limiting start-ups’ access to funding.The Singapore-headquartered venture debt company, announced on Friday...

26 Jan Heads of chip giants Nvidia, TSMC meet in Taiwan as tight chip supply threatens to hinder AI boom

Posted at 04:45h in Asia

The heads of the world’s two most valuable chip firms met in Taipei over dinner to discuss the Taiwanese firm’s role as producer of the Nvidia chips that now power the majority of generative AI training systems worldwide, Huang told reporters in Taipei. 01:36AI chip maker...

26 Jan US opens antitrust probe on investments by Microsoft in OpenAI, Alphabet and Amazon in Anthropic

Posted at 03:40h in Asia

The FTC orders will allow the agency to scrutinise the inner workings of deals between Microsoft, Google and Amazon and AI providers to help the antitrust and consumer protection agency understand how these deals have affected competition. 03:08What if robots took over the world? One ‘imagines’...

26 Jan Microsoft cuts 1,900 Activision Blizzard staff, cancels new game Odyssey after six years of development

Posted at 02:40h in Asia

As part of the reorganisation, Blizzard also parted ways with president Mike Ybarra and chief design officer Allen Adham, one of the company’s co-founders. Blizzard said its new president will be announced next week.The Blizzard Entertainment campus in Irvine, California. Photo: Getty Images/TNSThe maker of...

26 Jan Tencent, Alibaba, Meituan pace declines as Hong Kong stocks’ 3-day rally cut short on long-term China growth concerns

Posted at 02:32h in Asia

Hong Kong stocks fell on Friday, snapping three days of gains, as initial optimism over China’s rescue measures fizzled out.The Hang Seng Index declined 0.4 per cent to 16,150.47 at 10.50am local time, after rallying 8.4 per cent over the preceding three days. The...

26 Jan China property: Evergrande’s Hengda unit to sell stake in Shantou project for US$19.4 million as Hong Kong court hearing nears

Posted at 01:54h in Asia

A unit of China Evergrande Group, the most indebted property developer in mainland China, has agreed to sell its stake in a project in Shantou, southern Guangdong province, continuing to pare down assets as it awaits the fate of its debt restructuring proposal.The subsidiary, Hengda...

25 Jan China’s economy to gradually heat up in 2024, with manufacturing, spending as top growth drivers, not property: Fidelity

Posted at 23:30h in Asia

China’s economy will show gradual improvement in 2024, propelled by manufacturing and consumption, rather than property and local government financing, amid a structural shift towards high-quality growth drivers, Peiqian Liu, Asia Economist at Fidelity International, said at a media briefing on Thursday.“Tourism, entertainment, culture, and...

25 Jan After disgraced crypto entrepreneur’s ‘enjoyable’ Singapore prison experience, focus turns to exchange in Hong Kong

Posted at 23:00h in Asia

Although he is “not to the point of highly recommending it per se … it’s something that if everyone got to experience once, I think it’s definitely good for you,” Zhu said.Su Zhu (top right), co-founder of collapsed cryptocurrency hedge fund Three Arrows Capital, describes...

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