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Emergency crews scrambled on Saturday to restore power to tens of thousands of homes in Taiwan after Typhoon Champi’s fierce winds battered the island, with the storm moving towards China and Japan. Authorities evacuated more than 5,000 people from their homes ahead of the storm, which toppled
Former HSBC Holdings global insurance head Edward Moncreiffe will join rival AIA Group as regional CEO from November 2, following a path taken by former HSBC Group chairman Mark Tucker, who returned to the Asia-Pacific region’s largest insurer as non-executive chairman last year. Moncreiffe will ove
Hong Kong recorded its highest-ever temperature for the traditional Chinese calendar’s “Frost” solar term on Friday, with the weather forecaster warning of a very dry weekend ahead. The Hong Kong Observatory said the temperature reached 32.1 degrees Celsius by 2.30pm. Frost, the 18th of the Chinese
More than 70 flights between Hong Kong and Taiwan have been cancelled ahead of Super Typhoon Champi potentially making landfall on the island later on Friday. As of noon on Friday, more than 30 flights between the city and Taiwan Taoyuan International Airport had been cancelled, according to a South
A slew of market-stabilising measures unveiled by the head of China’s securities regulator this week has won praise from investors, despite the fact that mainland stock prices did not roar back over the following days. The focus on supporting stocks and investor confidence over the long term, rather
Around 20 more non-local students have been admitted to Hong Kong semi-private schools under a government scheme to boost the city’s status as an international education hub, with a school head urging authorities to do more to promote the initiative to prospective pupils. Education authorities said
Sun Hung Kai Properties (SHKP), one of Hong Kong’s largest developers, has sold out the latest batch of flats at its Sierra Sea project in the New Territories, where units were offered at discounted prices ahead of a possible US Federal Reserve interest-rate increase by year-end. By 5.40pm on Wednes
Taiwan’s intelligence agency said China has cranked up cyberattacks and the distribution of misleading information against the island democracy ahead of local elections next month. China claims Taiwan is part of its territory and has long threatened to use force to bring it under its control.
The parents of a five-year-old girl who died last year after receiving stitches for a head injury at a local public hospital have launched a civil suit against Hong Kong’s Hospital Authority (HA). According to the writ of summons filed at the District Court last Thursday, then-four-year-old La
As artificial intelligence reshapes the finance industry, commercial bankers are facing a “more miserable” transition than their central banking counterparts, the head of the world’s largest lender by assets said. Industrial and Commercial Bank of China president Liu Jun said that while central bank
Chinese battery giant Contemporary Amperex Technology Limited (CATL) has recorded a surprise slowdown in third-quarter net profits, as analysts warned the company could be hit by slowing demand from China’s electric car industry next year. The world’s largest electric vehicle battery maker posted a
The Hong Kong Monetary Authority (HKMA) will reshuffle the roles of two deputy chief executives next month as part of the de facto central bank’s succession planning strategy, two sources with knowledge of the matter told the South China Morning Post. Darryl Chan Wai-man will take over as CEO of HKM
Hong Kong’s retirement system remains one of Asia’s stronger performers this year, ranking second and trailing only Singapore. The two remain clear regional leaders, ahead of Malaysia, mainland China, Taiwan, Japan and South Korea, according to a report. The city retained its B grade, with its score
US-based money manager Principal Asset Management says it is poised to become more active in Asia-Pacific property markets, believing investors have been “underweight” in the region’s office property segment. Richard Hill, its senior managing director and head of global real estate research and stra
Hong Kong’s newly revamped Huanggang Port is expected to handle more than 100,000 passenger trips a day over the three-day Chung Yeung Festival holiday, but its departure hall remained quiet on Saturday morning. Secretary for Security Chris Tang Ping-keung said the port had operated smoothly since o
Hong Kong’s Fire Services Department will launch three new AI-assisted drone technologies to strengthen fire detection and its response to heightened risks during tomb-sweeping activities ahead of the Chung Yeung Festival on Sunday. Wong Tak-fai, acting divisional officer for information and communi
As global capital flows towards clean energy and artificial intelligence, Hong Kong billionaire Li Ka-shing’s business group has expanded its oil exposure in a move analysts see as a buffer against geopolitical risks and a play for steady cash flow. The first major investment move by the widely watc
Hundreds of people queued on Tuesday outside a Hong Kong gallery to see a Vincent van Gogh painting on public display for the first time in six decades. The Dutch artist’s “Chataigniers en fleurs” (“Chestnut Trees in Blossom”) was on show in Hong Kong ahead of its
Chinese investors are gearing up for a speech next week by the chief of the securities watchdog for clues on how Beijing will ramp up support for the country’s stock market after its latest efforts did little to bolster sentiment. Wu Qing, chairman of the China Securities Regulatory Commission (CSRC
A former department head of Hong Kong’s fintech hub Cyberport has been granted bail after being charged with accepting bribes to help an artificial intelligence (AI) start-up secure HK$20 million in funding from a government-subsidised programme. Alice So Nga-lai, 59, former head of entrepreneurship
Hong Kong’s institutional advantages and close ties with mainland China and the wider world can contribute to the Asia-Pacific region’s prosperity, a key adviser to the city’s leader has told a conference. Stephen Wong Yuen-shan, head of the Chief Executive’s Policy Unit, said on Monday that Hong Ko
Joseph Lau Yui-yip has taken students to cemeteries, funeral parlours and heritage exhibitions because he believes some parts of Hong Kong culture are best understood outside the classroom. Lau heads the student affairs department of Polytechnic University’s college of professional and continuing ed
The Apec finance ministers’ meeting in Hong Kong this month will focus on fiscal policies that support livelihoods, digital infrastructure financing, inclusive finance and young financial talent, underlining the city’s role as an international financial centre, the finance chief said. “These four pr
Hong Kong-headquartered DFI Retail Group, which owns and operates the city’s largest supermarket network, says it will continue to invest in new stores even though consumers remain cautious. Darren Chan, the group’s managing director for food in Hong Kong and Macau, said DFI – whose supermarket chai
Hong Kong’s corruption watchdog has charged the former head of a listed company for allegedly accepting HK$20 million (US$2.5 million) in bribes from a mainland Chinese property developer in exchange for acquiring a stake in the developer’s real estate project. Zhang Yadong, 58, who was chairman of
Asia’s premier international outdoor music and arts festival Clockenflap has unveiled its initial line-up for this year’s event at the Central Harbourfront Event Space. Paramore frontwoman and soloist Hayley Williams, alt-R&B star Keshi, and shoegaze legends Slowdive will headline the fest
Higher interest rates have weighed on property markets in both Hong Kong and New York, but Morgan Stanley sees greater upside potential in the Asian financial hub – particularly the office segment – in the months ahead, according to its latest report. The US investment bank highlighted the similarit
Shenzhen Transsion Holdings, the maker of Africa’s bestselling phones, aims to kick off its Hong Kong share offering on Wednesday to raise up to US$500 million ahead of a targeted October 15 listing, according to people familiar with the matter. The company, which already trades in Shanghai and has
Hong Kong authorities will “pursue accountability” over the deadly Tai Po blaze after an independent probe committee submits its final report, leader John Lee has said, without commenting on whether government officers will be investigated for misconduct. Lee, speaking ahead of a meeting with the Ex