Sea CEO sees path to US$1 trillion market cap with help of AI Sea founder Forrest Li told employees a trillion dollar market capitalisation – an increase of about 10 times – is possible as the Southeast Asia e-commerce leader joins tech companies globally betting on artificial intelligence for growth. In a memo to staff Monday, seen by Bloomberg News, Li compared the rapid growth of AI to the personal computer and smartphone revolutions that expanded consumer access to products and services once available only to the wealthy. But Li said it would not be... image https://www.scmp.com/tech/big-tech/article/3329790/sea-ceo-forrest-li-sees-path-us1-trillion-market-cap-help-ai?utm_source=rss_feed
Can Scott Bessent see China’s trade counterstrike with clear eyes? After a video call last Saturday, US Treasury Secretary Scott Bessent and Chinese Vice-Premier He Lifeng are expected to meet in Malaysia this week to hopefully ease tensions before US President Donald Trump and President Xi Jinping potentially meet on the sidelines of this year’s Apec summit. The meeting was in doubt when Trump threatened to impose an additional 100 per cent tariff on China, despite later relenting that it might not be sustainable. Washington blamed Beijing for the escalation,... image
South China Morning Post
The View | Can Scott Bessent see China’s trade counterstrike with clear eyes?
China’s export control regime on rare earths isn’t retaliation for recent US restrictions – it’s a response to overall US policy.
Hong Kong’s Legco pulls farewell motion amid concerns over electoral fairness Hong Kong’s legislature will break from another tradition by withdrawing a valedictory motion marking the end of its four-year term, with a veteran lawmaker citing concerns over electoral fairness. Starry Lee Wai-king, chairwoman of the Legislative Council’s House Committee, who was supposed to move the farewell motion, revealed on Tuesday that she withdrew it after receiving feedback from some lawmakers. “The election is shaping up to be highly competitive. Some lawmakers worry that having the... image
South China Morning Post
Hong Kong Legco’s farewell motion withdrawn amid electoral fairness concerns
House Committee chairwoman Starry Lee pulls motion after feedback from some lawmakers, and notes closeness to election nomination period.
Hong Kong retains top spot in finance, logistics and tourism in Greater Bay Area Hong Kong has retained its leading position in three out of six major industries within the Greater Bay Area, according to an index comparing the relative advantages of 11 cities across the southern Chinese region. Shenzhen held onto its top spot in innovation and technology as well as manufacturing, while Guangzhou remained the leader in real estate. The Greater Bay Area Industry Development Index, compiled by Our Hong Kong Foundation and Dah Sing Bank, surveyed 3,400 companies across 11 cities... image
South China Morning Post
Hong Kong retains top spot in finance, logistics and tourism in Greater Bay Area
Greater Bay Area Industry Development Index, compiled by Our Hong Kong Foundation and Dah Sing Bank, surveyed 3,400 companies in 11 cities within r...
Major foreign banks raise China’s GDP forecast, annual target seen as ‘on track’ Several major banks forecast stronger economic growth for China this year, buoyed by third-quarter data showing slightly better-than-expected expansion despite domestic and external headwinds. Investment bank Goldman Sachs raised its full-year gross domestic product forecast for 2025 from 4.8 per cent to 4.9 per cent, noting that the government’s target of “around 5 per cent” remains “largely on track”. The bank also revised its estimate for 2026, up slightly from 4.2 per cent to 4.3 per cent,... image
South China Morning Post
Overseas banks raise China GDP forecasts, say Beijing ‘on track’ for 2025 target
Leading banks raise estimates after third-quarter data beats expectations, but some analysts caution more policy support needed.
Palace and UK government under pressure to strip Prince Andrew of titles and home He won’t call himself a duke any more, but that is not enough for many of Prince Andrew’s critics. Buckingham Palace and the British government were under pressure Monday to formally strip Prince Andrew of his princely title and sumptuous home after new revelations about his relationship with convicted sex offender Jeffrey Epstein. After discussions with his elder brother King Charles, Andrew agreed on Friday to stop using titles including Duke of York. It was the latest effort to insulate the... image
South China Morning Post
Palace and UK government under pressure to strip Prince Andrew of titles and home
Buckingham Palace is bracing for more embarrassing revelations about disgraced Prince Andrew, who still technically holds the title of duke.
Evangelista’s wealth under fire, Singaporeans flock to Johor: 7 Asia highlights We have selected seven stories from the SCMP’s coverage of Asia over the past week that resonated with our readers and shed light on topical issues. If you would like to see more of our reporting, please consider subscribing. 1. US call centre bill threatens Philippines’ US$30 billion outsourcing boom As dusk settles over Angeles City, Justin Cunanan prepares for another long night. While the rest of the Philippines sleeps, he joins millions of his compatriots powering a global industry that is... image
South China Morning Post
Evangelista’s wealth under fire, Singaporeans flock to Johor: 7 Asia highlights
From Diwali’s dented gold demand to Asia’s youngest nation poised to join Asean, here are a few highlights from SCMP’s recent Asia reporting.
Hong Kong runway on standby a day after plane accident, crew to be questioned The north runway of Hong Kong’s airport will be reopened on standby mode by noon on Tuesday, 32 hours after an Emirates cargo plane veered off it and struck a ground vehicle, sending it into the sea and killing two staff members, the airport operator has said. A source also said the Air Incident Investigation Authority was expected to meet the four Turkish crew members on the flight as part of investigations on Tuesday, with police questioning them afterwards. The crew were not prevented from... image
South China Morning Post
Hong Kong airport’s north runway reopens after cargo plane crash kills 2
Monday’s incident was fourth in 15 years to involve ACT Airlines, with one accident leaving more than 30 people dead.
Hong Kong minister admits procurement vigilance ‘below expectations’, vows reform Civil servants’ vigilance in guarding against potential procurement scams falls short of public expectations, Hong Kong’s treasury minister has admitted, pledging to conduct site visits and prevent the process from becoming a “robotic” arrangement of “checking boxes”. But Secretary for Financial Services and the Treasury Christopher Hui Ching-yu stressed on Tuesday that the principle of “the lowest bidder wins” did not apply to government procurement procedures this time around and denied that... image
South China Morning Post
Hong Kong minister admits procurement vigilance ‘below expectations’, vows reform
Treasury chief Christopher Hui pledges to conduct site visits, prevent procurement process from becoming ‘robotic’ checking of boxes.
‘It’ author Stephen King tops US school book ban list amid censorship divide A new report on book bans in US schools finds It author Stephen King is the writer most likely to be censored, with the country divided between states actively restricting works and those attempting to limit or eliminate bans. PEN America’s “Banned in the USA,” released on Wednesday, tracks more than 6,800 instances of books being temporarily or permanently pulled for the 2024-2025 school year. The new number is down from more than 10,000 in 2023-24, but still far above the levels of a few years... image
South China Morning Post
‘It’ author Stephen King tops US school book ban list amid censorship divide
PEN America’s report revealed a ‘story of two countries’, with most bans on LGBTQ and race content coming from Florida, Texas, and Tennessee.