The quota for Hong Kong’s ride-hailing vehicles to be set by authorities should reflect Uber’s operating situation in the city, the firm’s CEO has urged, adding that the company’s focus on safety will help it stand out among competitors. Dara Khosrowshahi, speaking to the media on Friday during a visit to Hong Kong, said the…
The Hong Kong Investment Corporation (HKIC) earned HK$2.34 billion (US$300.7 million) in investment income last year, as the city’s wholly owned investment vehicle made an impressive report after its first year of operation. HKIC posted HK$2.25 billion in operating income for the year that ended on December 31, on HK$64 billion in total assets, while…
The Hong Kong Investment Corporation (HKIC) earned HK$2.34 billion (US$300.7 million) in investment income last year, as the city’s wholly owned investment vehicle made an impressive report after its first year of operation. HKIC posted HK$2.25 billion in operating income for the year that ended on December 31, on HK$64 billion in total assets, while…
An increase in office leasing activity in Hong Kong, coupled with a moderate amount of new space coming onto the market, translates to improved prospects for the battered commercial property sector next year, according to analysts. The supply of new grade A office space in 2026 and 2027 was likely to be less than the…
The Jack Ma Foundation said on Thursday it would donate HK$30 million (US$3.9 million) to support families, firefighters and rescuers affected by a deadly fire at a housing estate in Hong Kong’s Tai Po district. In a statement, the foundation – established by the founder of Alibaba Group Holding and Ant Group – expressed solidarity…
Hong Kong stocks dropped on Friday after four days of advances, as investors searched for fresh catalysts beyond expectations about a US interest-rate cut that reversed a tumble triggered by concerns about an artificial-intelligence bubble. The Hang Seng Index fell 0.2 per cent to 25,891.18 as of 11.13am local time. For the month, the benchmark…
Chinese internet search giant Baidu on Tuesday reported a 50 per cent increase in artificial intelligence-related revenue in the three months ended September from a year ago, which was the bright spot to an otherwise lacklustre financial quarter. The Beijing-based company’s third-quarter revenue declined 7 per cent year on year to 31.2 billion yuan (US$4.4…
Fintech giant Ant Group, an affiliate of Alibaba Group Holding, has unveiled what it called China’s first multimodal artificial intelligence assistant capable of producing code-driven outputs, including “flash apps” in as little as 30 seconds. LingGuang, described as a next-generation multimodal AI assistant, was designed to help users create a variety of simple apps –…
The state-owned company bought about 1.4 million shares of WeRide and 14,500 shares of Pony.ai in the September quarter, according to its 13F filings released on Friday. The total value of the shares was around US$13.7 million. Temasek has a history of investing in autonomous driving companies. These included the Swedish transport firm Einride, a…
“The assertions and innuendos in the article are completely false,” an Alibaba representative said. “We question the motivation behind the anonymous leak, which the FT admits that they cannot verify.” The Alibaba representative called the article a “malicious PR operation” that appears to “undermine President Trump’s recent trade deal with China”. Hangzhou-based Alibaba owns the…