Asia

14 Mar Foxconn expects big revenue jump in 2024 after slow start to the year amid booming AI demand

Posted at 08:09h in Asia

Apple supplier Foxconn said on Thursday it expects revenue to increase significantly in 2024 following a slow start to the year amid booming demand for AI servers, after it posted fourth-quarter profit that beat market estimates.The outlook has turned rosier since Foxconn chairman Young Liu...

14 Mar Hong Kong’s hiring market to remain soft as employers are concerned about challenging economic outlook: KPMG

Posted at 08:00h in Asia

Jobseekers in Hong Kong should not get their hopes up in case they are looking to land a job or switch employers, as companies are pessimistic about the overall economic outlook.Slightly over a quarter of companies expect to raise staffing levels this year, compared with...

14 Mar Hong Kong’s Swire Pacific posts record US$4.6 billion profit on Cathay boost, eyes healthcare to offset property market

Posted at 07:31h in Asia

Swire Pacific is betting on healthcare investments in mainland China and Indonesia as an area of growth to offset Hong Kong’s office property market, which is likely to remain soft for the year.The Hong Kong-based conglomerate reported record underlying profit of HK$36.2 billion (US$4.6 billion)...

14 Mar Hong Kong stocks weaken amid earnings caution, property sector rebound triggered by state support expectations

Posted at 03:04h in Asia

Hong Kong stocks retreated as the mood turned cautious ahead of earnings announcements with more than 20 companies, which comprise the Hang Seng index, due to unveil results over the next week.But the benchmark remains within striking distance of a three-month high, as sentiment received...

14 Mar New Microsoft product uses cybersecurity AI to help companies track hackers

Posted at 02:31h in Asia

The security Copilot is part of Microsoft’s ongoing effort to infuse its major product lines with artificial intelligence tools from partner OpenAI and persuade corporate customers to buy subscriptions. 02:35Taiwanese entertainer uses artificial intelligence to bring back deceased daughterTaiwanese entertainer uses artificial intelligence to bring back...

14 Mar Insurer AIA’s profit jumps 15% on strong policy sales to mainland Chinese visitors in Hong Kong

Posted at 02:16h in Asia

AIA Group reported a 15 per cent profit jump last year, benefiting from demand for insurance products from the return of mainland Chinese visitors to Hong Kong in search of better returns and as a hedge against a weakening yuan.Hong Kong-based AIA, Asia’s largest insurer,...

14 Mar Hong Kong take-private deals soar as cheap valuations tempt investors into company buy-outs

Posted at 00:30h in Asia

For CMIC Vehicles, the low liquidity and cheap valuation have “created difficulty for the company to effectively conduct fundraising exercises on the Hong Kong stock exchange”, it said in a filing to the exchange earlier this week.Similarly, China Traditional Chinese Medicine Holdings, which had been...

14 Mar Retired SMIC veteran joins China’s top memory chip maker CXMT in boost to research efforts, report says

Posted at 00:00h in Asia

Retired SMIC veteran joins China’s top memory chip maker CXMT in boost to research efforts, report saysA veteran of China’s top chip foundry Semiconductor Manufacturing International Corp (SMIC) has joined the country’s top memory chip maker ChangXin Memory Technologies (CXMT) to take charge of research...

13 Mar World of Warcraft developer Blizzard to return to China soon after resuming partnership with NetEase, report says

Posted at 23:00h in Asia

Blizzard Entertainment is returning to China in the coming weeks after the US video gaming giant resumed a partnership with NetEase following a high-profile bust up last year, according to a local media report.Hangzhou-based game publisher NetEase will announce the official return of Blizzard to...

13 Mar Exclusive | JPMorgan’s faith in Hong Kong as financial hub as strong as ever a century on, COO Daniel Pinto says

Posted at 22:00h in Asia

“We will continue to do the business that we are doing and continue growing,” said the bank’s president and chief operating officer Daniel Pinto during an interview in Hong Kong. “We are not the type of company that is going to go fully in one...