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An evening of art and culture to remember: "Galaxy Opera Gala with Plácido Domingo and Guests" showcased by Galaxy Macau

The renowned Spanish tenor marked a memorable night at the Galaxy International Convention Center (GICC), performing alongside three up-and-coming talents.

This grand tribute to the splendor of classical music has played a part in shaping Macau into a "City of Performing Arts."

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For the first time, Galaxy Macau's GICC held a premier opera gala, featuring Domingo's initial performance in Macau after a six-year hiatus. The event that took place on October 20 surpassed all anticipated standards.

The renowned Spanish opera star captivated fans of classical music and culture, who packed Macau's newest top-tier venue to its limits. The spirited and dynamic tenor gave his trademark flawless show, performing with Chinese soprano Bing Bing Wang, and Italo-German mezzo-soprano Anna-Doris Capitelli, complemented by the esteemed Shenzhen Symphony Orchestra led by Italian maestro Beatrice Venezi.

In a splendid climax, the solo performers were accompanied by the globally acclaimed Chinese tenor, Warren Mok from Hong Kong, who unexpectedly adorned the stage as a guest.

With a professional journey stretching across more than fifty years, Domingo, a 12-time Grammy Award recipient, is considered among the "top 10 opera singers of all time". Critics note that this tenor who transitioned into a baritone stands out as a unique example – a high-profile performer with an amazing voice who has managed to maintain warmth, dedication, refined taste, and sensitivity despite his fame. Domingo has made significant contributions to the contemporary era of opera through his emotionally-charged performances and powerful stage charisma. Boasting over 4,000 performances in 150 different roles, he is recognized as one of the most adaptable and respected artists in recent times.


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Gelsinger Ousted as Intel CEO Amidst Faltering Turnaround Plan and Growing Nvidia, TSMC Dominance

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Intel's chief executive, Gelsinger, has been compelled to leave his position as the tech powerhouse lags behind Nvidia and TSMC. As per an informant, the board of directors has expressed a lack of faith in Gelsinger's revival strategy, offering him the choice to either voluntarily step down or face dismissal.

Gelsinger, who stepped down on the first day of December, exited the company following a board meeting the previous week. During this meeting, the directors expressed their dissatisfaction with his expensive and bold strategy to revive Intel, feeling it wasn't effective and the pace of transformation was too slow, as per someone knowledgeable about the situation. Faced with the option of retiring or being dismissed, Gelsinger elected to resign, according to the informant.

In 2021, Gelsinger took over a company already filled with difficulties, which he further exacerbated. Despite his high aspirations for production and AI capacities among key customers, Intel ended up losing or scrapping deals during his tenure. According to a special report by Reuters in October, the company failed to fulfill the commitments he had made.

He gave hopeful predictions concerning potential AI-chip contracts that surpassed Intel's own projections, causing the company to abandon a recent prediction on revenue about a month ago.


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Chinese Tech Giants Empyrean and Skyverse Deflect Impact of US Sanctions: A Deep Dive into the Resilience of China’s Local Supply Chain Amid Chip War

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Trade Battle: Chinese companies underplay new US penalties, highlighting local supply network

Recently banned Empyrean and Skyverse claim the sanctions will barely affect them, citing their local technology resources and home-based clients.

The company stated that its software is built on proprietary technologies and patents that they have developed themselves. They emphasized that they have complete ownership of these technologies, which guarantees the autonomy of their operations. Empyrean, backed by the National Integrated Circuit Industry Investment Fund and China Electronics, a state-owned enterprise, has set an ambitious goal to become a world leader in the field of electronic design automation software by 2030. This market is currently controlled by American companies such as Cadence, Synopsis, and Siemens EDA, which was previously known as Mentor Graphics until it was purchased by Siemens, a German company.

Skyverse Technology, a chip equipment manufacturer listed in Shanghai, has stated that it isn't experiencing any notable effects from the US action due to its five-year preparation for such external disruptions. The company, based in Shenzhen, shared with China Business News that it manufactures essential parts within the country and serves the local market. On Tuesday morning, its stock value declined by 0.25 percent.

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Biden aims for a 10-year setback in China's technology policy

Naura Technology Group, the top semiconductor equipment manufacturer in the nation, hasn't made a statement regarding their blacklisting. The company's share price in Shenzhen saw a 3% drop on Tuesday morning.


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Fears of Deflationary Spiral Send China’s 10-Year Bond Yield to Historic Lows: Echoes of Japan’s Economic Malaise Loom Large

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China's decade-long bond yield plummets to an unprecedented low as investors hurriedly seek refuge in secure investments. This astonishing new dip indicates a worrying risk projection in the midst of a deflationary cycle that strikingly mirrors Japan's prolonged economic slump, says an analyst.

The yield on China's 10-year government bond dropped below 2% for the first time in history, highlighting investor speculation that Beijing will have to relax its policies even more to stimulate economic growth. The decrease in value of the yuan was also observed as the yield benefit of comparable US notes increased.

The return on Chinese bonds set to mature in a decade dipped to as low as 1.979% on Tuesday, breaking the 2% barrier for two consecutive days. So far this year, the return has decreased by 57 basis points, positioning it for the largest yearly decline since 2018.

Financial firms forecast that the current trend will persist, with Zhongtai Securities indicating that a reduction in the reserve requirement ratio (RRR) for banks could happen before this year concludes. Meanwhile, Huachuang Securities anticipates a decrease in interest rates ranging from 20 to 40 basis points in the coming year.

"China's bond yields have reached an astonishingly low level, indicating a worrisome risk prediction as the country battles a deflationary cycle eerily similar to Japan's lengthy economic downturn," stated Stephen Innes, a Managing Director at SPI Asset Management in Bangkok. "As yields plunge, the market rumours intensify, expecting more monetary easing."

The recent economic boost efforts by Beijing have not succeeded in alleviating worries among investors regarding the declining economic growth. The recovery has been uneven at its best, with a rise in retail sales, however, the real estate market continues to struggle despite the government's efforts to cut borrowing and mortgage rates and relax buying limitations in most key cities. A parliamentary session held last month refrained from introducing any financial backing for consumer spending, which is considered a crucial part of the economy for stimulating growth.

"In spite of numerous reductions in interest rates and relaxation policies, the central bank's set of strategies hasn't managed to ignite a strong recovery yet, leading to speculations among traders about the introduction of even more drastic measures in the future," stated Innes.


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Balancing Act: Indonesia’s Economic Stability, Energy Security, and Green Future amid Coal Phase Down

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Perspective | It's crucial for Indonesia not to discard coal while transitioning to eco-friendly energy

Gradually reducing dependence on coal and channeling resources into renewable energy can safeguard energy dependability and economic steadiness, paving the way for a more sustainable future.


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China’s Next Energy Challenge: Attracting Investment for Clean Tech Beyond Wind and Solar

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China should increase funding for the next wave of clean-energy technology following the surge in wind and solar power. More financial resources are needed in sectors like energy storage, hydrogen, and eco-friendly aviation fuel.

"Chan emphasized during a panel discussion at the Tuesday event that there's a need for increased capital to be directed towards areas with unsatisfied needs, rather than towards already heavily invested hotspots. He stressed that there remains a significant gap that still needs to be addressed."

The increase in renewable energy has also led to instability in power grids, which struggle with an excess of solar power during midday that vanishes as the sun goes down.


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HKMA’s ‘Money Safe’ Initiative: An Extra Layer of Protection for Hongkongers’ Bank Balances from Fraud

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The Hong Kong Monetary Authority's (HKMA) Money Safe program is designed to protect the bank accounts of Hong Kong residents from fraudulent activities. Enhanced authentication processes will be required to move frozen funds when banks implement this optional feature next year.

Starting next year, residents of Hong Kong will have the option to secure their entire or partial bank account balance in a "Money Safe." This initiative is designed to offer additional protection against fraudulent activities.

"Our constant goal has been to equip our clients with extra choices for their own protection," said Arthur Yuen Kwok-hang, deputy CEO of HKMA, during a press conference on Tuesday.

The HKMA has announced that twenty traditional banks along with eight online banks will gradually introduce Money Safe through various stages or tests, with the aim of having it fully operational by the close of the coming year. The banks will determine the specifics of the implementation according to their individual operational plans.

Enrollment will be optional, allowing clients to safeguard funds in their checking and savings accounts, including time-deposit accounts in Hong Kong dollars and other foreign currencies. The secured sums will keep receiving the same interest and perks as provided by these accounts.


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Shenzhen’s Record $2.5 Billion Land Sale: A Silver Lining in China’s Sluggish Property Market

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The sale of land in Shenzhen, worth US$2.5 billion, serves as a positive sign in China's slow-moving real estate market. China Overseas Land and Investment, along with China Resources Land, have acquired a piece of land measuring 263,000 square meters in the Nanshan district.

China Overseas Land and Investment and China Resources Land, both developers, collectively spent 18.5 billion yuan (equivalent to US$2.54 billion) to secure a 263,000-square-meter (or 2.83 million square feet) property in the busy commercial sector of the city's Nanshan district. This was a significant 46% increase from the initial asking price. The sale of the property took place after close to 300 bidding rounds.

The sale marked the highest-priced land transaction ever recorded in the city, as per the information from Centaline Property's Shenzhen office, surpassing a residential land deal in 2016 that was worth 14 billion yuan.

"According to Sun Hongmei, an analyst from China Index Academy, a Beijing-based research group, the land location does not come with the usual constraints that restrict the cost of residential developments constructed on it. This indicates a change towards market-driven pricing in Shenzhen, which is expected to stabilize housing costs and foster a positive market forecast."

This marked the initial significant transaction following China's announcement of relaxed regulations for the real estate sector in its four primary cities: Beijing, Shenzhen, Shanghai, and Guangzhou.


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Alibaba Cloud Targets Southeast Asia Expansion in 2025 through AI Partnerships: A Strategic Move in Global Dominance

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Alibaba Cloud sets ambitious goals for Southeast Asia by 2025 through new AI collaborations

The premier cloud services provider in China is focusing on investments in its operations within Indonesia, Thailand, and other markets.

In its updated Alibaba Cloud Partner Rainforest Plan, the company based in Hangzhou expressed its intention to collaborate with 100 ecosystem partners next year. The goal is to create and offer advanced AI and cloud computing solutions to businesses in diverse industries globally.

This action is in line with a wider plan by Alibaba Cloud to increase foreign investments and broaden its cloud infrastructure services in crucial markets.

"Selina Yuan, the president of international business at Alibaba Cloud, stated in the company's partner summit in Bali, Indonesia on Tuesday, that they are dedicated to assisting their worldwide partners to mutually profit from the AI era and satisfy the varied business needs of their global clients."

Artificial Intelligence has significantly propelled the expansion of cloud services at Alibaba, the company that owns South China Morning Post. Alibaba Cloud, which collaborates with approximately 12,000 global partners including Deloitte and Accenture, saw a 7 per cent increase in its year-on-year revenue, reaching 29.6 billion yuan (US$4.1 billion) in the quarter ending in September. This represents the division's quickest quarterly growth in a span of two years.


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Hong Kong Property Transactions Soar to 7-Month Peak, Yet Market Braces for December Downturn Amid Geopolitical Tensions

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Real estate transactions in Hong Kong reach a peak in 7 months, yet a decline is anticipated in December. The Land Registry reports that last month saw 7,689 property deals, amounting to US$8.2 billion.

Real estate sales in Hong Kong hit a seven-month peak in November, but market analysts predict a likely decline this month. This downturn is anticipated due to increased wariness among buyers triggered by escalating geopolitical conflicts and a possible reduction in the frequency of interest rate cuts.

Last month saw the finalization of 7,689 transactions involving new and pre-owned residences, workplaces, retail spaces, industrial properties, and car parks. This figure, released by the Land Registry on Tuesday, represents the peak since the 9,880 deals made in April.

The count was 31 percent greater than the 5,857 recorded in October and over twice the 3,532 documented a year ago.

The worth of the transactions surged over 50 per cent to HK$64.1 billion (US$8.2 billion) in comparison to October, indicating a 161 per cent increase from the previous year, according to the data.

Quarter to Four

The Hong Kong housing minister unveils a strategy to control partitioned apartments and enhance home ownership.

Real estate deals in November increased for the third consecutive month, however, they are expected to plunge by almost 40 per cent to a minimum of 4,800 in December due to a decrease in house sales, says Derek Chan, the research chief at Ricacorp Properties.

Confidence resurged in the real estate market after a 0.5% decrease in interest rates in September, which was additionally reinforced by the relaxation of home loan rates for property purchasers and investors in October.


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China’s Industrial Bodies Warn Against US Chip Purchases in Response to Biden’s Sanctions: Potential Impact on Nvidia, Qualcomm, and Intel’s Mainland Operations

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Chinese trade associations are advocating for a cautious approach to purchasing American semiconductor components in response to sanctions imposed by the Biden administration. This move could potentially impact the domestic operations of major tech companies such as Nvidia, Qualcomm, and Intel.

The latest actions taken by the US have significantly damaged the steady and robust growth of China's internet sector, says the Internet Society of China. The statement also indicates that these measures have undermined faith and certainty in American chip products.


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China Embraces Sanofi’s US$1 Billion Investment for New Insulin Plant in Beijing

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China is receptive to Sanofi's new project worth US$1 billion in Beijing

The most recent financial commitment from Sanofi in China is set to fund the establishment of a new insulin manufacturing facility in the country's capital.


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Hong Kong Investors Boost Japan’s Booming Hospitality Sector Amid Positive Economic Outlook and Favorable Interest Rates

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People from Hong Kong are investing new funds into Japan's thriving hospitality industry. This positive perspective on Japan's hospitality industry is backed by the nation's enhancing economic outlook.

The positive perspective on Japan's hospitality industry is supported by the nation's growing economic outlook. In addition, the country's interest rate at 0.25 percent is among the world's lowest.


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