China Mobile is currently in negotiation to acquire broadband company, HKBN.

HKBN has announced that it has received a cash offer from China Mobile.

HKBN has confirmed receipt of a monetary proposal from China Mobile.

The corporate announcement was made following media coverage of the transaction, which led to a temporary halt in the trading of HKBN's stocks on Tuesday, as they awaited the company's response. HKBN's stocks have seen a 32 per cent increase this year, which is over twice the progress made by the standard Hang Seng Index.

The firm's stock rose by 6.7 per cent, reaching HK$4.60 on Wednesday, and China Mobile increased by 0.4 per cent to HK$71.30. HKBN, a component of the Hang Seng Composite Index, is valued at HK$6.03 billion, equivalent to US$774.8 million.

HKBN stated that the business will regularly update on the potential deal's development each month until they either confirm their intention to proceed with the proposal or decide against it.

China Mobile has thoroughly evaluated the proposal and has been in discussions with MBK Partners and TPG, the primary stakeholders of HKBN, as per news sources. The Chinese telecommunications company was prepared to pay a minimum of HK$5 per share for HKBN, which would equate to an offer exceeding HK$6.5 billion, as indicated by the reports.

ByteDance, the parent company of TikTok, is providing more stock options to its high-performing employees. This is the second time ByteDance has modified its employee reward system this year, a change that coincides with the increase in the company's value following Trump's re-election.

The social media powerhouse headquartered in Beijing, employing about 110,000 people worldwide, has chosen to offer additional stock options to employees who achieve a performance rating of "M+" or higher in the upcoming evaluation period, starting in January. This was revealed in an internal letter distributed on Tuesday, as observed by the South China Morning Post, and verified by ByteDance personnel.

An M+ rating signifies "exceeding expectations" and is considered the fourth best rank out of eight possible scores. This rating is only given to a limited number of employees and has become increasingly difficult to achieve lately, as per the input from two anonymous employees.

On Tuesday, the firm informed its staff that it plans to raise the maximum amount of bonuses awarded to top performers, although it did not provide specifics.

Breaking News | Bridgewater's Prince acquires a HK$95 million apartment in Hong Kong, joining other financial executives in establishing a base

Bob Prince, co-CIO of Bridgewater Associates, has spent HK$95 million on a three-bedroom residence at St. George’s Mansion in Ho Man Tin.

Bob Prince, the co-head of investments for the biggest hedge fund globally, has acquired a high-end residence in Hong Kong. He becomes part of an elite group of international financiers who have started to pay attention to the city's attractive proposition to make a home in Asia's third biggest capital market.

"Indeed, it's a lovely area," Prince commented in a November 16 discussion with the Post, without revealing the cost or the place of his acquisition. "The flat we bought came fully furnished, as there was no chance we could have furnished it ourselves from the US. They've done an excellent job, thus we're lucky."

Calls for Hong Kong to enhance financial exchanges with mainland China to facilitate global market entry

Ex-HKMA chief Norman Chan asserts that capital movement is no longer as smooth as before

Ex-HKMA chief Norman Chan asserts that capital movement is no longer as smooth as before

"More robust policy measures are required to facilitate enhanced capital movement between Hong Kong, the Greater Bay Area, and the remaining parts of the mainland," stated Norman Chan Tak-lam, the ex-chief executive officer of the Hong Kong Monetary Authority (HKMA). "In this field, innovation is crucial to adapt to the significant transformations we are experiencing in our era."

During the occasion, which took place at the Ritz-Carlton hotel in Kowloon, Chan expressed that the flow of capital – both foreign and domestic – isn't as smooth as it once was, considering the shifts taking place in the global political and economic scene.

"We must depend on outside circulation by enhancing the connection between Hong Kong and mainland centers such as Shanghai and Shenzhen," he stated. "I believe this is a path we need to seriously contemplate advancing towards."

Apple discloses its App Store earnings distribution in China amidst escalating competition with Huawei

The American behemoth affirms that the majority of its App Store profits in China go to developers and corporations.

On Monday, Apple China released a statement on their official website. The statement referenced a study by a researcher from the Shanghai University of Finance and Economics, revealing that over 95% of the 3.76 trillion yuan (approximately US$519 billion) in earnings generated by the local App Store last year was paid out to Chinese developers and diverse firms.

"We take pride in the fact that our contributions to the App Store have enabled it to serve as a robust growth catalyst for local enterprises of every scale," penned Apple CEO Tim Cook on Chinese social networking site Weibo. He asserted the company's dedication to the achievement of entrepreneurs throughout China.

It remains uncertain if Apple funded the research. Neither the corporation nor the study's author, Ju Heng, were quick to respond to a request for feedback on Wednesday.

Alibaba secures $5 billion through a dual-currency bond issue, enhancing Hong Kong's reputation as a hub. This transaction signifies the largest corporate bond issue of its kind in the Asia-Pacific area for this year.

The most recent bond issuance by the company indicates the attempts by mainland China and Hong Kong to improve the city's financial status. This includes its role as an international hub for trading assets denominated in yuan.

The firm's bond offering, denominated in yuan, was also the biggest corporate debt issuance of its kind in Hong Kong.

Addressing Climate Change Requires Intelligent Solutions

Enhancements in energy efficiency, which are vital for achieving emission goals, became a central topic at COP29 and are already bringing about change.

Tuya Smart initiated its 'Smart Decarb' project, employing AI, IoT, and cloud computing to refine energy consumption and reduce carbon emissions.

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

In confronting the escalating global climate crisis, the crucial role of energy efficiency is frequently underestimated. Although it's one of the quickest and most economical methods to reduce carbon emissions, it's often neglected in worldwide discussions.

The COP29 conference this year in Azerbaijan assembled leaders from the business sector, government, and educational institutions to deliberate on strategies for sustainable growth. Energy efficiency was a major theme at the event, garnering increased focus for its potential to significantly reduce emissions in combination with renewable energy investments.

The global authority on energy, the International Energy Agency (IEA), has emphasized that energy efficiency could contribute to almost 50% of the necessary emissions reductions by 2030 to achieve the objectives set out in the Paris Agreement. Despite the potential advantages like cost reduction and enhanced resilience, global efforts have not kept pace.

AIoT Enhancing Productivity and Promoting Decarbonization Intelligently

Tuya Smart, an international cloud platform service company, is spearheading efforts to bridge this gap. During COP29, Tuya unveiled their 'Smart Decarb' scheme, which utilizes the strengths of AI, IoT, and cloud computing to combat carbon emissions.

My Perspective | Tesla shines as a model of international triumph in China. But can it maintain this positive image?

The official newspaper of the Communist Party, People’s Daily, has hailed Tesla for igniting the surge in electric vehicles. However, Musk's involvement in a fresh Trump administration may cause some challenges.

The piece is chiefly designed for a local readership. Its goal is to emphasize the idea that "liberalization" is beneficial and essential in advancing the country's priorities. The piece diverges from the usual story seen in government-controlled media, where the role of international companies in China's success is either understated or entirely overlooked.

The article somewhat criticizes those who have a distaste for international companies like Tesla. Lately, such foreign brands have faced heightened examination in China.

The publication of the editorial in the nation's leading newspaper coincides with what seems to be a stagnation in China's "opening up" progression, as the focus has pivoted towards national security. This issue has become especially contentious in relation to big data.

Manulife has elevated its Asian insurance chief, Witherington, to the position of group CEO, acknowledging the region's expanding influence. In the third quarter, Asia was the leading source of Manulife's group income, being responsible for 44 per cent of the overall total.

Fixes name in the title

Manulife's Asia CEO, Phil Witherington, is set to become the new group CEO of the Toronto-based insurance company starting May 8 of next year, as revealed in a Tuesday announcement. He will be succeeding Roy Gori, who plans to retire but will continue to offer guidance as a consultant until August 31.

The entire board of Manulife fully endorsed the advancement of Witherington, according to chairman Don Lindsay. Witherington has shown a consistent aptitude for handling intricate situations, fulfilling obligations, and leading change and deeply involved teams with his genuine leadership style, Lindsay further commented.

Witherington expressed his enthusiasm for the "chance to spearhead the forthcoming phase for Manulife", a company with a worldwide presence and extensive past, as per his statement.

"A lot of international insurance firms are concentrating on business prospects in Asia," stated Kenny Ng Lai-yin, a strategist at Everbright Securities International. "This is due to Asia's rapid wealth expansion. Particularly, Hong Kong is an excellent hub for these companies to broaden their market presence in the area."

Manulife is poised to exceed its profit goals in Asia, thanks to the introduction of numerous cutting-edge products that have been enthusiastically received by affluent clients in the area. Additionally, mainland Chinese tourists are purchasing insurance policies in Hong Kong as a form of investment and security.

Perspective | 5 Factors Enabling Hong Kong's Real Estate Market to Withstand Trump's Impact

The property sector in Hong Kong appears to be constantly under pressure, but there are positive aspects if one knows where to search.

The quicker reaction has reduced the difference between rental income from residential properties and mortgage rates, thereby boosting investment demand. An S&P Global Ratings report from November 10 states that the returns on mass-market properties smaller than 40 square meters (430 square feet) have exceeded mortgage rates.

The US is pushing for Google to divest its Chrome browser in a significant antitrust clampdown. This initiative signifies the boldest step to control a tech firm since the unsuccessful attempts to split Microsoft twenty years ago.

Officials dealing with competition law, and the states involved in the lawsuit, are also set to propose on Wednesday that Federal Judge Amit Mehta administer data licensing rules, according to sources who wished to remain anonymous while discussing a private issue.

Should Mehta agree to the suggested plans, the online search industry and the rapidly growing AI field could be significantly altered. The lawsuit was initiated during Trump's administration and has been carried on into President Joe Biden's term. This represents the most assertive attempt to control a tech company since the failed endeavor to dismantle Microsoft twenty years ago.

Having the most widely used internet browser is crucial to Google's advertising operations. The tech giant can monitor the online activities of users who are logged in, and leverage this information to better tailor ads, which form the majority of its earnings. Additionally, Google employs its Chrome browser to guide users towards its premier AI offering, Gemini. This tool holds the promise to transform from a response-bot into a virtual aide that accompanies users as they navigate the internet.

Shares in Hong Kong increase for the second consecutive day after a senior Chinese official promises policy backing. Vice-Premier He Lifeng lays out strategies to enhance listings, market entry and yuan transactions, amid heightened morale due to strong earnings from Trip.com.

The Hang Seng Index ended with a 0.4 per cent increase, finishing at 19,663.67, which adds to Monday's 0.8 per cent rise. The Hang Seng Technology Index also made progress, with a 1.2 per cent enhancement. On mainland China, both the CSI 300 Index and the Shanghai Composite Index saw a 0.7 per cent improvement.

Trip.com Group, a Chinese online travel company, saw a surge in its shares following the announcement of its quarterly results, which surpassed expectations. Zijin Mining Group, a gold production company, also saw progress after Goldman Sachs predicted that the price of gold would exceed US$3,000 per ounce in the upcoming year. However, shares of smartphone manufacturer Xiaomi took a hit as investors cashed in their profits following the release of positive earnings report on Monday. Despite this, the company's stock has still seen a significant increase of over 80

Over 300 attendees have convened in Hong Kong for the yearly conference facilitated by the Hong Kong Monetary Authority.

Previously, Deputy Premier He Lifeng committed to increasing aid for Hong Kong's financial sectors. During his main address at the conference, he stated that China intends to assist additional Chinese businesses in getting registered in the city, enhance reciprocal market entry, and release treasury bonds.