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People check out a Tesla electric car at the company’s delivery centre in Beijing on February 27, 2025. Photo: AFP

China Business

Tesla plans cheaper model to put brakes on China sales slide

The US company’s share of the world’s largest EV market has dropped to 4.3 per cent from more than 16 per cent in 2022.

China’s fiery criticism of Panama port deal puts pressure on Li Ka-shing family

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Venture capital funds flock to China’s Zhejiang province amid hi-tech push

Companies

China’s F&B sector faces challenges amid slowing consumer spending

Analysts warn that targeted measures are needed to revive the industry, as companies like Nayuki and Xiabu Xiabu report losses and closures.

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Mainland fresh drinks maker Nayuki expects to post an adjusted net loss of up to 970 million yuan for 2024. Photo: Costfoto/Future Publishing via Getty Images
Mainland fresh drinks maker Nayuki expects to post an adjusted net loss of up to 970 million yuan for 2024. Photo: Costfoto/Future Publishing via Getty Images

Banking & Finance

Towngas unit’s 2024 profit gains as renewable energy bets pay off

Net profit rose 2 per cent to HK$1.6 billion (US$206 million), while revenue increased 7.4 per cent to HK$21.3 billion.

Business

AIA reports record earnings, unveils US$1.6 billion stock buy-back plan

Hong Kong new sales rose 23 per cent to a record US$1.8 billion in 2024 as mainland Chinese bought more policies on their visits.

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Big Tech

Foxconn’s profits drop as iPhone sales falter, but AI boom offers hope

The Taiwanese company reported a 13 per cent fall in net income, worse than analysts’ estimates for a 2 per cent gain.

A Foxconn building in Taipei. Photo: Reuters
A Foxconn building in Taipei. Photo: Reuters

Business

Nicholas Tse, Stanley Ho’s family face falling property value amid market slump

Macau tycoon Stanley Ho’s family is selling a site in Tsim Sha Tsui, while actor Nicholas Tse’s shop in Central rented out at a big discount.

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China Business

Hong Kong stocks halt 5-day slide on tech rebound as US equities face correction

Tech stocks regained traction as losses in the S&P 500 exceeded 10 per cent from its February peak.

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Big Tech

Tencent chases Chinese tourists in Singapore with Sentosa deal

As Chinese travellers return to Southeast Asia, Weixin Pay has struck a partnership with Singapore’s top resort island.

Resort World Sentosa in Singapore. Photo: AFP

Policy

OpenAI asks US for relief from AI rules to compete with Chinese firms

The ChatGPT maker says the AI race is ‘effectively over’ if China’s developers have unfettered access to data while US companies do not.

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OpenAI CEO Sam Altman. Photo: Reuters
OpenAI CEO Sam Altman. Photo: Reuters

Big Tech

Apple’s AirPods to get Star Trek-like upgrade with live translation

The capability will be offered as part of an AirPods software upgrade due later this year, sources say.

United States & Canada

Wall Street slides, S&P 500 in correction as Trump trade war escalates

The S&P 500 closed more than 10 per cent below its February 19 record, with the Nasdaq and Dow also tumbling.

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Fashion & Beauty

Profile | Donatella Versace, out at namesake fashion label, overcame many obstacles

Versace, 69, took over her brother’s label after his 1997 murder. Carrying on his legacy has been ’the greatest honour of my life’, she says.

(From left) Claudia Schiffer, Donatella Versace, Naomi Campbell and Cindy Crawford on the catwalk in 2017. Versace, 70 in May, will step down as creative director of the label her brother Gianni founded on April 1. Photo: AP

Business

Swire Pacific earnings drop 85% as Hong Kong property slump hits projects, assets

Earnings at Cathay Pacific stabilised while the group switched its focus in the beverage business to Thailand and Laos from the US market.

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Exterior of One Pacific Place in Admiralty. Photo: Nora Tam
Exterior of One Pacific Place in Admiralty. Photo: Nora Tam

Companies

Wharf swings to 2024 loss as write-downs add to glut, sales slump

The company posted a 2024 loss of HK$3.22 billion and set aside HK$2.02 billion in impairment provisions.

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Tech Trends

UBTech debuts US$41,000 humanoid as robot frenzy grips China

Standing at 1.7 metres, the Tien Kung Xingzhe can walk 10km per hour and navigate various terrains, including sand and snow.

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Markets

DeepSeek, China’s Sputnik moment, spurs re-rating of Seven Titans in Hong Kong

DeepSeek’s breakthrough fuels huge revaluation of Chinese tech stocks, boosting investor confidence and reshaping global market dynamics.

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Illustration by Pearl Law
Illustration by Pearl Law

Big Tech

How China’s ‘Fantastic Four’ are reshaping the global tech landscape

China’s new generation of tech tsars were born after the country began its ‘reform and opening up’ phase.

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Science

Hong Kong doctor bets on blood tests after saving mums from the needle

Lo’s blood tests can potentially reveal more information about patients’ health, from cancers to neurodegenerative conditions to age-related diseases.

Companies

Exclusive | New Galaxy Macau chairman builds constellation of 5-star hotels

Francis Lui adds the opulent Capella hotel to the second-largest casino and resort operator’s growing universe of lodgings and attractions.

Francis Lui, chairman of Galaxy Entertainment Group. Illustration: Henry Wong
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OPINION
Richard Harris

Opinion | As US political capital wanes, other assets aren’t far behind

Richard Harris
Nicholas Spiro

The View | Why investors are taking a second look at Chinese real estate

Nicholas Spiro
James McCormack

Opinion | A threat to sell US bonds may force Trump to rethink tariffs

James McCormack
7
Anthony Rowley

Macroscope | Why dangerous debt dynamics aren’t catching up with economic policy

Anthony Rowley
Andrew Sheng

Opinion | How Trump’s rejection of net zero exposes inconvenient truths

Andrew Sheng
Nicholas Spiro

Macroscope | Are Europe and China stocks the better bet under ‘America first’?

Nicholas Spiro
4
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MULTIMEDIA
Video

How Alibaba.com is betting on AI to transform e-commerce

How Alibaba.com is betting on AI to transform e-commerce
11:13
Video

The small business concerns behind China’s ‘two sessions’

China’s ‘two sessions’: small businesses voice concerns as they face economic headwinds
03:22
Video

Hong Kong-listed SenseTime to spin off healthcare platform

SenseTime plans to spin off healthcare platform in effort to capitalise on advanced LLMs
01:32
Video

How Sands China is driving Macau 3.0

How Sands China is driving ‘Macau 3.0’ with NBA Legends, better infrastructure
02:33
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Nicholas Tse, Stanley Ho’s family face falling property value amid market slump

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