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.

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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.

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.

The "Golden Bauhinia Women Entrepreneur Awards" recognizes and applauds the remarkable successes of 27 influential female entrepreneurs. This yearly ceremony pays tribute to the substantial contributions made by extraordinary businesswomen and women professionals in various sectors. Furthermore, it serves as a stage for women entrepreneurs who embody ethical values and professional superiority to set an example for personal development and societal duty.

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The realm of entrepreneurship presents difficulties for all, but especially for women who encounter additional obstacles and challenges. The achievements of women entrepreneurs are particularly noteworthy and deserving of applause and recognition.

The Golden Bauhinia Women Entrepreneur Association (GBWEA) is committed to utilizing the knowledge and energy of local female entrepreneurs, while also advocating for the business community's emphasis on women in business and their substantial input. They hold the "Golden Bauhinia Women Entrepreneur Awards" every two years to achieve this aim.

In 2024, the event celebrated its 5th year with a stunning award distribution function held in the latter part of October.

This occasion is not merely a joyous gathering for businesswomen and professionals from various sectors to revel in each other's successes. The Awards identify women entrepreneurs who have accomplished remarkable feats and contributed significantly in their respective areas of expertise. By excelling in their unique pursuits and making meaningful contributions that affect us all, these women entrepreneurs radiate positivity in the community through their compassion and kindness.

The ceremony recognized 27 exceptional female leaders in seven different categories: "Business Excellence Award," "Arts & Cultural Achievement Award," "Power of Next Generation Award," "Philanthropy Award," "Leading Pioneer ESG Award," "Technology Innovation Award," and "Start Up Z35 Award." The GBWEA created these award categories to mirror the rapidly changing business environment and demands in Hong Kong, the Greater Bay Area (GBA), and worldwide.

Authorities endorse Hong Kong's position as the link between China and global markets

Chinese representatives, addressing from Hong Kong, express their backing for the city as the nexus between the mainland and the wider world.

Authorities from China who oversee three sections of the world's second biggest capital market made their way to the country's offshore financial hub, expressing their endorsement for Hong Kong's function as a bridge between the mainland and the global stage.

The Connect scheme, which currently includes stocks, bonds, options, and wealth management products, could potentially welcome commodities into its range of tradable assets, according to Wu Qing, the chairman of the China Securities Regulatory Commission (CSRC). The scheme allows international investors and mainland Chinese capital to access each other's markets through Hong Kong. Wu, who is the primary representative for equities, also mentioned that the scheme will likely incorporate more options and futures.

Wu is part of a group of financial representatives from the mainland who are present at the HKMA's premier event in Hong Kong, under the leadership of Chinese Vice-Premier He Lifeng.

Beijing plans to aid additional domestic firms in securing listings in Hong Kong, enhance shared market entry, release treasury bonds and reinforce its status as a global offshore yuan hub. This move will assist the city in bolstering its reputation as a leading international financial hub and promote China's economic liberalization, according to He, the top-tier Chinese financial authority to visit the city in recent years. Last year, he communicated his views through a prerecorded speech broadcasted via satellite.

In his initial comments at the conference, he reiterated that Hong Kong's prominence as a global financial hub is further assured when backed by the robust 'one country, two systems' framework, the unwavering support of the nation, and the relentless efforts of its citizens.

Authorities reinforce backing for Hong Kong's function in linking China to global markets. Chinese representatives, addressing the issue in Hong Kong, express their endorsement for the city as the intermediary between the mainland and the global community. Chinese representatives, addressing the issue in Hong Kong, express their endorsement for the city as the intermediary between the mainland and the global community.

Officials from China overseeing three segments of the world's second biggest capital market made a visit to the country's offshore financial hub to endorse and encourage Hong Kong's function in bridging the gap between mainland China and the rest of the world.

Wu Qing, the chairman of the China Securities Regulatory Commission (CSRC) and the chief overseer of equities, has indicated that commodities might be included in the current portfolio of stocks, bonds, options, and wealth management products available for trade in the Connect scheme. This program provides a platform for global investors and mainland capital to access each other’s markets through Hong Kong. Furthermore, he stated that the scope of options and futures would be expanded.

Wu is part of a group of financial authorities from the mainland who are present at the HKMA's premier event in Hong Kong, under the leadership of Chinese Vice-Premier He Lifeng.

Beijing plans to assist an increased number of mainland businesses in securing listings in Hong Kong, enhance mutual market accessibility, release treasury bonds, and bolster its status as a global offshore yuan hub. This will aid Hong Kong in its ambition to be a more robust international financial hub and will support China's efforts to liberalize its economy. This was announced by He, who is the most senior Chinese financial official to visit Hong Kong in recent years. He gave a speech, which was recorded and broadcast via satellite last year.

He reiterated in his initial conference statement that Hong Kong's prominence as a global financial hub continues to be reinforced by the reliable 'one country, two systems' framework, the unwavering support of the nation, and the diligent efforts of its citizens.

World finance experts underline the importance of resilience and insight during unpredictable periods. Presenters at the Worldwide Finance Chiefs' Investment Summit suggest that cooperation and strategic planning are essential in managing a fragmented world.

"Everyone is acknowledging the need to enhance our resilience," stated Jane Fraser, chief executive officer of Citigroup. "Many might quickly claim that globalization has ended. However, that's not the case. It's simply undergoing massive transformations."

BNP Paribas head, Jean Lemierre, expressed that trade is subject to negotiation. He emphasized that a consensus must be reached, as the alternative would be disastrous for all parties involved.

Lemierre suggested that intelligence should guide resolutions for trade conflicts, which primarily revolve around "tariffs, quotas, mutual benefits, and timing."

"He stated that we are aware of the discussion's boundaries, thus prudence should guide us to this kind of strategy."

SF Holding, a major Chinese delivery company, is aiming to raise as much as $793 million through an initial public offering (IPO) in Hong Kong. The company, which is the biggest express delivery service in China, plans to sell 170 million shares priced between HK$32.30 and HK$36.30 each. The public listing is scheduled for November 27th.

SF Holding, the largest courier company in China, aims to generate up to HK$6.2 billion (US$793 million) from its listing in Hong Kong, marking yet another significant stock offering in the city this year.

The firm is set to begin accepting investments from shareholders starting Tuesday, with plans to publicly trade its stocks by November 27, as noted in its listing document. They're putting up 170 million shares for sale, each priced between HK$32.30 and HK$36.30.

If the shares are sold at the minimum advertised price, SF would receive a roughly 29% markdown compared to its Shenzhen-listed stock as of Monday. The firm, which has seen its shares increase by approximately 5% this year, currently holds a market capitalization of 204 billion yuan (equivalent to US$28 billion).

SF managed to raise around US$205 million from key investors, which includes a division of the smartphone manufacturer, Xiaomi.

Key partners who have committed to maintaining their shares for a minimum of six months include the investment company Oaktree Capital Management, a branch of the Hong Kong-based property developer Sino Land, and a fund supported by the family of Henry Cheng Kar-shun, the wealthy chair of property developer New World Development.

Citic boosts its presence in Saudi Arabia with the 3,500-house Tilal Khuzam scheme in Riyadh. The project, also known as Khuzam Hills, includes multiple phases, with the first one expected to be completed in 2026, as stated on the website of Citic's associate, Rafal.

A major Chinese state-controlled property developer is collaborating with Saudi Arabian firms to initiate a significant residential real estate venture in Riyadh. This move is aimed at increasing its presence in the Middle East due to a declining market domestically.

Steered by the Saudi Vision 2030 initiative, introduced in 2019 by Crown Prince Mohammed bin Salman, Saudi Arabia is enhancing its infrastructure with the aim of drawing international expertise to aid in the transition and diversification of its economy, which primarily relies on oil. The country initiated its housing programme in 2018, marking it as the first nation worldwide to establish national strategic objectives for home ownership.

In order to advance their efforts, the country is enhancing its relationship with mainland China. Saudi Arabia has formed the NHC and the REGA, which fall under the Ministry of Housing and Urban-Rural Affairs, to assist in carrying out their housing project. The goal is to have a total of about 300,000 homes available by the year 2030 and achieve a home ownership rate of 70 percent.

Rafal, founded in 2007, holds approximately 10 property developments consisting of residential buildings, houses, and office-villas.

Foxconn, the company that manufactures iPhones, is collaborating with Nvidia to create AI-based factories. The partnership aims to produce "digital twins" to aid in the construction of high-tech facilities globally.

Foxconn disclosed in a statement on Monday that they are partnering with Nvidia to create digital twins with the goal of revolutionizing manufacturing procedures and supply chain administration. This alliance is anticipated to aid in the worldwide launch of cutting-edge facilities, improving business robustness and creating new possibilities for innovation in these areas.

The partnership was initially revealed at the Hon Hai Tech Day 2023 event, where Foxconn demonstrated its application of Nvidia's Omniverse platform to generate a 3D digital replica for the purpose of simulating automated production lines at its factory in Hsinchu, Taiwan. There are ongoing plans to broaden the use of Omniverse across other Foxconn factories globally.

At the same time, advancements in the firm's Mexico site underscore the incorporation of Nvidia Omniverse, Nvidia Isaac for robotics, Nvidia Modulus for AI-based simulations, and OpenUSD for smooth data exchange.

The utilization of digital twin technology allows Foxconn to swiftly expand its operations by virtually modeling procedures prior to actual execution. This functionality aids the firm's global expansion plans, enabling it to duplicate and homogenize production lines across different areas with remarkable effectiveness. Foxconn enhances its competitive edge in key global markets by guaranteeing uniform quality and accuracy.