The number of trips to Hong Kong by mainland Chinese visitors rose 27 per cent year on year as the 2024 tally reached 34 million, according to official figures, with observers saying the uptick is likely to continue but expressing doubt over its economic impact. Hong Kong also recorded a 48 per cent year-on-year surge…
Hong Kong stocks trimmed the gains spurred by official data showing China’s fourth-quarter growth exceeded expectations, as investors weighed the sustainability of the recovery. A plunge in China Vanke, the nation’s biggest property developer by revenue, also tempered sentiment. The Hang Seng Index added 0.3 per cent to 19,584.06 at the close, paring a gain…
Catch up on some of SCMP’s biggest China and economy stories of the day. If you would like to see more of our reporting, please consider subscribing. 1. Donald Trump names David Perdue as pick for US ambassador to China US president-elect Donald Trump has picked former senator David Perdue as his ambassador to China,…
Salesforce Inc. reported quarterly revenue that topped analysts’ estimates, boosting investor hopes that the company’s much-hyped strategy for artificial intelligence products will lift financial results. The shares gained about 10% in extended trading. Sales increased 8.3% to $9.44 billion in the period ended Oct. 31, the company said Tuesday in a statementBloomberg Terminal. Analysts, on…
LVMH-owned jeweler Bulgari is looking to India to mitigate the effects of faltering luxury demand in China amid an economic slowdown. Bulgari is expanding its footprint in India to take advantage of strong growth and favorable demographics, Bulgari Chief Executive Officer Jean-Christophe Babin said in an interview with Bloomberg TV. The brand’s website lists 13…
China has created a new specialist committee on artificial intelligence (AI), as part of the country’s vision for the development and governance of the technology, amid simmering tensions between Beijing and Washington. The AI Experts Committee will help spearhead efforts to promote the country’s perspective on how the fast-growing technology should be governed, according to…
Alibaba Group Holding raised US$5 billion from a multi-tranche dual-currency bond offering, the Chinese e-commerce giant said on Wednesday, an initiative that looks to enhance Hong Kong’s role as an international financial centre. The company’s latest bond offering reflects efforts by the mainland and Hong Kong to bolster the city’s financial standing, including its function…
HONOLULU (Island News) – The Department of Emergency Management reported that an outage occurred for Honolulu’s 911 system on Sunday, November 17, 2024. Officials state that the system is currently down for customers using certain cell providers, including AT&T, Verizon and T-Mobile. The public is advised to contact 911 by using a landline phone. For…
Selling products on livestream video is a big business in China. Apps like Douyin, the Chinese sibling of TikTok, mix social media with e-commerce to keep people glued to their phones while purchasing everything from soap to spices to suitcases. The latest e-commerce trend adds a game of chance to the mix. Known as “blind…
The partnership will enhance its international online operations of Harrods. Credit: Tom Eversley / Shutterstock. British luxury department store Harrods has partnered with direct-to-consumer (D2C) e-commerce company Global-e to enhance its international online operations. Global-e’s platform will enable Harrods’ customers worldwide to enjoy the same experience and personalisation. Customers worldwide can look forward to browsing…