SenseTime, a leader in Chinese facial recognition, is shifting its focus to GenAI as part of a business overhaul. The company aims to more effectively navigate both the promising prospects and difficulties posed by the AI 2.0 era.

The company listed on the Hong Kong stock exchange is shifting to a "1 plus X" framework. In this context, "1" symbolizes the company's fundamental activities of constructing AI models and cloud technology. Meanwhile, "X" denotes industry-specific solutions for sectors such as automotive, healthcare, robotics, and retail, as revealed by SenseTime in a stock exchange document submitted in the city on Wednesday.

The company stated that the overhaul "represents a shift in the firm's strategic focus and principal business sectors to more effectively tackle both the possibilities and difficulties presented by the AI 2.0 era".

GenAI comprises various algorithms that are capable of generating content, such as written text or videos, based on brief instructions.

StanChart plans to recruit additional wealth managers in Hong Kong and Singapore as part of a US$1.5 billion strategy. This UK-based financial institution aims to attract new customers who have upwards of US$10 million in assets in their preferred markets.

Standard Chartered plans to recruit additional relationship managers in Hong Kong, Singapore, and the United Arab Emirates (UAE) as part of a five-year strategy to manage an extra US$200 billion in client funds, following an impressive performance in the previous quarter.

"The expansion of our private bank will occur in Singapore, Hong Kong, UAE, and it's worth noting that we have a consulting center in London," stated Judy Hsu, the head of wealth and retail banking. She further added, "A large part of our investment will be directed towards improving the services that cater to our clients' global banking requirements," which includes boosting our staff by 50 per cent by the year 2028.

In the last quarter, Hong Kong emerged as the highest earning market for Standard Chartered, contributing to 34.4% of its pre-tax underlying profit of US$1.8 billion, as per the results released in October. Meanwhile, Singapore and the UAE made up 17.4% and 5.4% of the profit, respectively.

Looking at the different sectors of the business, the division encompassing wealth management and retail banking supplied 41% of the group's total earnings, with the help of an all-time high income from wealth solutions. However, the sector dealing with corporate and investment banking was the largest benefactor, contributing 76% to the profit.

NXP, a chipmaker from the Netherlands, along with an associate of TSMC, have plans to enlarge their joint venture in Singapore, valued at US$7.8 billion. In addition, NXP is aiming to widen its supply network in mainland China, where the company has a testing and packaging facility situated in Tianjin.

The Netherlands-based semiconductor company, along with its Taiwanese associate Vanguard International Semiconductor Corp (VIS), initiated the construction of a shared semiconductor manufacturing facility in the eastern part of Singapore on Wednesday.

The collaborators are currently developing a second-phase extension, according to NXP's Executive Vice President Andy Micallef in a conversation with Bloomberg News during the event. However, he noted that this expansion is still awaiting official approval.

"He confirmed that their investment in Singapore is ongoing. They are progressing towards the second phase which should be reached by 2030. NXP places significant importance on their Singapore location."

Saying Goodbye to Lui Che-woo: Donald Tsang, Carrie Lam and eight others serve as pallbearers for Hong Kong billionaire

Numerous political figures, including some past CEOs and prominent business individuals, pay tribute to the real estate and casino mogul.

Numerous political and corporate figures from Hong Kong and Macau gathered to say their last goodbyes to Lui at the Hong Kong Funeral Home in North Point. Among those present were the Chief Executive of Hong Kong, John Lee Ka-chiu, and Macau entrepreneur, Angela Leong On Kei.

Former Macau Chief Executives Edmund Ho Hau-wah and Fernando Chui Sai-on were among the attendees. Ho Hau-wah is currently a vice-chairman of the political advisory body to the Chinese legislature, while Chui Sai-on also once held the same position. Both were in charge of Macau's economy, which is heavily reliant on casinos. In this capacity, they oversaw operations of Lui's Galaxy Entertainment Group, one of six entities authorized to run the sole legally permitted gambling establishments in China.

At 87 years old, Tung Chee-hwa, who served as the initial chief executive of Hong Kong following its 1997 transition back to Chinese control, was not a pallbearer due to his age. Instead, he was named an honorary director of a funeral committee, which includes over 100 notable figures from both Hong Kong and Macau, as per a tribute released on Tuesday.

The tribute mentioned that Leung Chun-ying, the ex-Chief Executive of Hong Kong, took up the role of the committee's honorary director. Meanwhile, the funeral committee was led by several individuals including John Lee, Ho Iat Seng – the Chief Executive of Macau, and Zheng Yanxiong, who serves as the director of the Hong Kong Liaison Office of the Central People’s Government.

Bybit, a cryptocurrency exchange, has stated that individuals from mainland China can use a VPN for trading but not with the Chinese currency, yuan. The CEO of Bybit, Ben Zhou, has also announced that the firm intends to reapply for a license in Hong Kong next year, despite the restrictions placed by regulators on selling cryptocurrencies to people from the mainland.

Bybit, originally a Chinese cryptocurrency exchange that has grown to be one of the largest globally in terms of trading volume, has indicated that users from mainland China can engage in trading on their platform through a virtual private network (VPN). However, trading in the Chinese currency, yuan, will not be permitted.

Earlier this year, Bybit revealed plans to permit mainland Chinese citizens to trade on their international platform. This decision was influenced by the high demand from users and the company's belief that the associated risks were manageable, according to CEO and co-founder Ben Zhou in a press conference on Tuesday. Despite this, the platform has no intention of accepting Chinese currency.

"Zhou stated that the Chinese government's primary issue with cryptocurrency is its potential to enable the movement of capital out of the country. He added that they have no plans to cross this boundary."

The company's intention behind the shift was to draw in the "foreign Chinese population", as stated by the firm earlier. However, Zhou pointed out on Tuesday that this also implies that those residing in mainland can participate in trading on the platform by using a VPN, which employs an IP address from a different region.

Despite expectations, Bybit hasn't observed a significant influx of new users from mainland China, says Zhou. This was anticipated due to the company's limitations on accepting yuan.

Alibaba is set to fund the Lunar Year Spring Festival Gala, aiming to target China's cost-conscious buyers. The online retail behemoth is supporting the globally most-viewed program, in an effort to rejuvenate its expansion amidst stiff rivalry and a decelerating economy.

A Moderna survey reveals a hesitancy among Hong Kong inhabitants to receive the most recent Covid-19 vaccine. Approximately 52% of those from Hong Kong surveyed expressed a readiness to take the new vaccine, a figure lower than the 58% in Singapore showing a similar willingness.

According to last week's published results, Moderna discovered that 52% of those surveyed in Hong Kong expressed readiness to receive the new vaccine once it's available. Meanwhile, 58% of the participants in Singapore showed a tendency to accept the most recent injection.

Moderna emphasized in its research the significance of receiving further vaccinations, however, the survey data suggests an increasing indifference, even as COVID-19 variants continue to mutate.

Based in Cambridge, Massachusetts, Moderna has been broadening its reach throughout Asia, encompassing Hong Kong and mainland China, in order to access the substantial healthcare industry in the region.

The Hong Kong Monetary Authority (HKMA) has introduced unique mortgage plans to assist individuals who purchased properties at the height of the market. A singular program has been implemented which raises the loan-to-value ratio of mortgage loans to 80% for those who invested in incomplete properties between 2021 and 2023.

The Hong Kong Monetary Authority (HKMA) has announced an increase in the maximum loan-to-value (LTV) ratio for mortgage loans from 70% to 80% of a property's current value. This LTV ratio is used by banks to establish the required down payment and mortgage loan amount.

Eric Tso Tak-ming, the chief vice-president of mortgage broker mReferral, suggests that if banks had adhered to the 70% limit based on present home values, the mortgage loans of borrowers wouldn't have been enough to finalize their deals.

The Hong Kong Monetary Authority (HKMA) has announced plans to increase the highest permissible debt-servicing ratio (DSR) – the percentage of a borrower's monthly earnings allocated for paying off debts – from 50% to 60%. According to Tso, this move will enable a greater number of borrowers to become eligible for housing loans. He further estimated that approximately 4,000 house purchasers will take advantage of this revised scheme in the current and following year.

The Land Registry reports that from 2021 to 2023, 38,717 new properties were sold, with the majority being sold prior to their completion. As these houses are now finished, potential homeowners are required to secure mortgage loans to finalize their purchases. However, Tso highlights that many may find it difficult to gather the necessary funds for the down payment, largely as a result of the significant dip in housing prices.

The majority of projects initiated in 2021 have reached completion, indicating that this program is advantageous for those who purchased new residential properties in 2022 and 2023. The estimated transaction volume over these two years is close to 20,000. Yet, the actual number of participants could be less, as there were buyers who made complete payments and others who did not face financial obstacles, as stated by Sammy Po Siu-ming, the head of Midland Realty's residential sector.

According to CEOs, Hong Kong should focus on fostering insurance professionals to compete with Singapore and Dubai. Lawrence Lam, the Chief Executive Officer of Prudential in Hong Kong, emphasizes that data analysts' role in the sector has never been more crucial.

Executives have stated that Hong Kong needs to develop and cultivate its insurance industry talent to stay competitive with other financial hubs such as Singapore and Dubai, especially as businesses continue to move towards digitalisation.

HSBC's Global Insurance CEO, Edward Moncreiffe, suggested that the city should concentrate on enhancing its physical and digital foundations, regulatory framework, and linguistic abilities if it intends to preserve its status as an international finance hub.

This will guarantee that individuals with quality services can conduct business in Hong Kong more smoothly than in any other place," he stated at the Insurtech Insights Asia conference on Wednesday. "In a world where everything is digital, locations lose their significance."

Moncreiffe highlighted the significance of English, stating that while a large portion of HSBC's business comes from customers in mainland China, the bank also caters to clients from dozens of other countries in Hong Kong by drafting policies for them.

The two-day summit represents the biggest assembly of leading insurance professionals in the area.

Recent testing of bovhyaluronidase azoximer sparks optimism for individuals suffering from lung complications due to COVID-19

A latest clinical study centered around bovhyaluronidase azoximer (BA) has produced encouraging findings, suggesting it may serve as a possible therapy for lingering lung complications from COVID-19.

BA could potentially enhance patients' lung abilities and their tolerance to physical activity.

[This article's content was created by our promotional partner.]

The World Health Organization (WHO) states that long COVID, a condition affecting multiple body systems, occurs in about 10 to 20 percent of COVID-19 patients. The symptoms of this condition often consist of tiredness, difficulty in breathing, and an inability to tolerate physical activity.

One of the persistent effects of COVID, referred to as pulmonary sequelae, encompasses conditions like restrictive lung disease, breathing-related symptoms, and lung imaging irregularities similar to pulmonary fibrosis. These lung-related consequences of COVID-19 have the potential to linger for months or even years.

Up to this point, the WHO has not released any medical treatment advice for lung complications following COVID.

Despite this, recent research has ignited optimism. The study, named "Bovhyaluronidase azoximer for long-term pulmonary sequelae of COVID-19: a randomised, double-blind, placebo-controlled trial," concluded with results that hint at a promising path for additional exploration of BA in addressing lung complications and possibly extended effects of COVID-19.

Hyaluronic acid (HA) plays a role in the disease progression of lung-related conditions. BA, an enzyme linked to a polymer, is responsible for breaking down HA.

The recent testing of bovhyaluronidase azoximer sparks optimism for individuals dealing with lung complications from long COVID-19.

The latest clinical research on bovhyaluronidase azoximer (BA) has shown encouraging outcomes for its possible use as a treatment for prolonged COVID-related lung complications.

The potential advantages of BA could be enhancing patients' lung abilities and their endurance during physical exertion.

[This article's content has been created by our promotional partner.]

The World Health Organization (WHO) states that post-acute sequelae of SARS-CoV-2 infection, often referred to as long COVID, is a complex condition affecting multiple body systems. It is reported to occur in about 10 to 20 percent of individuals who have had COVID-19. The symptoms of this condition

Long-term effects of COVID, also referred to as pulmonary sequelae, incorporate conditions like restrictive lung disease, breathing issues, and lung-related abnormalities similar to pulmonary fibrosis. This aftermath of COVID-19 has the potential to persist for months or even years.

Until now, the WHO has not released any medical treatment advice for lung complications following COVID-19.

Despite this, recent research has brought about encouraging results. The study, named "Bovhyaluronidase azoximer for long-term lung complications of COVID-19: a randomized, double-blind, placebo-controlled trial," has ended with conclusions that provide a promising pathway for more in-depth exploration of BA’s role in the treatment of lung complications, and potentially long-term effects of COVID-19.

Hyaluronic acid (HA) plays a role in the disease progression of lung-related conditions. BA, an enzyme linked to a polymer, is responsible for breaking down HA.

The recent testing of bovhyaluronidase azoximer offers new possibilities for individuals suffering from lingering COVID-19 lung complications. The latest clinical trial studying bovhyaluronidase azoximer (BA) has shown encouraging findings for its use as a potential remedy for long-term COVID-19 lung aftereffects. The potential advantages of BA could be enhancing lung functionality and exercise capacity in patients. [This article's content was provided by our promotional partner.]

The World Health Organization (WHO) states that long COVID is a condition affecting multiple systems in the body, which occurs in 10 to 20 percent of individuals who have had COVID-19. The symptoms of this condition encompass tiredness, difficulty breathing, and an inability to tolerate physical activity.

A persistent symptom of long COVID, referred to as pulmonary sequelae, encompasses restrictive lung conditions, breathing issues, and lung imaging irregularities similar to pulmonary fibrosis. These after-effects of COVID-19 on the lungs can persist for several months, and in some cases, even years.

Up until now, the WHO has yet to release any medical treatment protocols for lung complications following COVID.

Despite this, a new study has sparked optimism. The clinical trial, named "Bovhyaluronidase azoximer for long-term pulmonary sequelae of COVID-19: a randomised, double-blind, placebo-controlled trial," has ended with results that indicate a promising path for more in-depth exploration of BA in the treatment of pulmonary sequelae and possibly even long COVID overall.

Hyaluronic acid (HA) plays a role in the disease process of lung complications. BA, an enzyme connected to a polymer, is responsible for breaking down HA.