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HONG KONG — Nine monkeys who died in Hong Kong’s oldest zoo in two days this week had been infected with an endemic disease, possibly after some digging work near their cages, officials said on Friday. Another possibility is that some infected monkeys had close contact with other monkeys, he said. “The incubation period for melioidosis in primates is about a week and this matched with the period after the soil digging work,” he said. Edwin Tsui, the controller of the center, said the incident only happened in a single zone and its impact on Hong Kong residents would be very low. The Hong Kong Zoological and Botanical Gardens — the oldest park in the former British colony — fully opened to the public in 1871.
Persons: Kevin Yeung, melioidosis, Yeung, “ We’re, , Edwin Tsui Organizations: Culture, Hong Kong Zoological, Botanical Gardens, International Union for Conservation of, Hong Kong’s Center for Health Protection, Leisure, Cultural Services Department, Agriculture, Fisheries, Conservation Department, Department of Health Locations: HONG KONG, Hong Kong’s, Hong, Hong Kong, Central
Matthew is serving a 7-year prison sentence in Singapore's Changi Prison for trafficking meth. Officials from the Singapore Prison Service say they encourage guards to think of themselves as “Captains of Life,” helping rehabilitate the prison population. Officials did not allow CNN to visit Institution A1, where more than 40 death row inmates await the same fate. Before each execution, authorities organize a professional photo shoot in which inmates trade their prison uniforms for civilian clothes. Hong Kong’s population is around 25% larger than Singapore’s, and it does not impose the death penalty for drug offenses.
Persons: Matthew, , , Tom Booth, ” Shanmugam, Shanmugam, Rebecca Wright, ” Matthew, Steve Jobs, Nelson Mandela, Reuben Leong, , Halinda binte Ismail, Halinda, Muhammed Izwan bin, ” Halinda, , Kirsten Han, Nazira, you’ve Organizations: Singapore CNN —, CNN, Changi, Singapore, Singapore’s, Home Affairs and Law, Visitors, Action Party, Home Affairs Ministry, Home Affairs, CNN Singapore, United Nations Office, Drugs, CNN Authorities, Singapore Prison Service Locations: Singapore, Canada, Portugal, Iran, North Korea, Saudi Arabia, Asia, Thailand, Laos, Myanmar, Scandinavian, mealtimes, United States, Australia, European, Hong Kong, British,
The Justice Department, in an 18-page indictment Thursday, charged Vikash Yadav, 39, with three counts of murder-for-hire and money laundering. Federal prosecutors said Yadav was a “senior field officer” for New Delhi. Their New York target was an attorney and political activist who is a U.S. citizen of Indian origin, prosecutors said. Nijjar was also mentioned as a target by Yadav and was an associate of the activist he plotted to assassinate in New York, the Justice Department release said. Yadav was employed by India’s Cabinet secretariat, which also houses the country’s foreign intelligence wing, the Research and Analysis Wing, the Justice Department indictment said.
Persons: Vikash Yadav, Yadav, , Nikhil Gupta, Gupta, Yadav “, Christopher Wray, , Matthew Miller, Hardeep Singh Nijjar, Nijjar, Gurpatwant Singh Pannun, ” Miller, Prosecutors, Narendra Modi’s, Matthew G, Olsen Organizations: DELHI, The Justice Department, New Delhi, FBI, U.S, Department, Indian Government, , ., The, DOJ, Associated Press, AP India, , State Department, U.S ., Research, Embassy, India’s Ministry, Affairs, Drug Enforcement Administration, Indian, Justice Department’s National Security Division Locations: U.S, New York City, New, India, York, Czech Republic, Washington, Canada, Nijjar, New York, Indian, “ Canada, New Delhi, United States
HONG KONG — China is strengthening enforcement with nations such as the United States to combat smuggling and other serious crimes, state media reported Friday, citing the country’s National Immigration Administration. Smugglers and cross-border criminal groups at home and abroad have recently been “deceiving some people to participate in smuggling activities,” the administration said, without giving a specific time period or clarifying whether the smuggling involved goods, people or both. The United States has this year deported Chinese people who sought to enter the country illegally back to China with charter flights. The difficulty of obtaining U.S. visas and the economic aftershocks of China’s Covid-19 lockdowns led to a sharp increase in Chinese nationals presenting at the U.S.-Mexico border. That is more than the 52,700 who crossed in the entire 2023 fiscal year that ended in October.
Persons: lockdowns Organizations: Immigration Administration, United Locations: HONG KONG — China, United States, China, U.S, Mexico, Canada
It’s this passion and unwavering drive to forge his own path that’s helped reshape fine dining in his birth home. Chef Sung Anh with his brother in the US Army (left) and with family in California (right). Mosu SeoulIn 2017, chef Sung opened Mosu Seoul in the heart of one of the world’s fastest-growing fine dining scenes. CNNAs recognition grows for South Korean food, chef Sung takes things further at Mosu Seoul, celebrating more than just local ingredients. “Chef Sung gives life and character to each dish I make, which I find very respectable.
Persons: Sung, , , Sung Anh, , Saddam Hussein, Mosu, “ I’ve, They’ve, Jong, Sangwoo Kim, Chef Sung, Paik Jong, Mosu —, ” Sung, Chung, Ceramicist Yoon Sol, Yoon Organizations: CNN, Michelin, Netflix, US Army, Korean, US, Porsche, West, Mosu, Acorn, Chefs, Mosu Seoul Locations: Iraq, Korea, American, Seoul, South, San Diego , California, US West Coast, South Korea, California, Vietnam, Baghdad, Dakota , Idaho, Puerto Rico, Hawaii, San Francisco, Mosu Seoul, Mosu, Hong Kong, , Komah, Sao Paulo, New York, Korean, Gangnam, Asia
But in an announcement Thursday, the US Treasury Department accused the Chinese firms of direct involvement in arms supplies to Moscow. The Chinese companies had collaborated with Russian defense firms in the production of Moscow’s “Garpiya series” long-range unmanned aerial vehicles, the department said in a statement. “The Garpiya has been deployed by Russia in its brutal war against Ukraine, destroying critical infrastructure and causing mass casualties,” it said. “We have seen for some time Chinese companies providing components to Russian companies that Russian companies then use to turn into machinery, weapons, other components that Russia could use in its war,” State Department spokesman Matthew Miller told reporters Thursday. In the latest sign of their deepening alignment, Chinese and Russian defense officials vowed to strengthen their cooperation during meetings in Beijing last week.
Persons: , Redlepus, TSK, Matthew Miller, , Liu Pengyu, Andrey Belousov, Zhang Youxia Organizations: Hong Kong CNN, US Treasury Department, CNN, Xiamen Limbach Aircraft, Redlepus Vector Industry Shenzhen Co, Treasury Department, US, TSK Vektor, , Reuters, China’s, Military Commission Locations: Hong Kong, United States, China, Russia, Ukraine, Washington, Beijing, Moscow, Xiamen, Russian, ’ Beijing, U.S,
European markets were headed for a mixed open on Friday as investors digested the European Central Bank's decision to cut interest rates yet again and awaited fresh economic data and earnings. Germany's DAX , the U.K.'s FTSE 100 and France's CAC 40 are all expected to slip when markets open, according to IG data, while Italy's FTSE MIB is on track to rise. The pan-European Stoxx 600 ended Thursday in the green, with almost all sectors and regional bourses trading in positive territory. It came as the ECB announced its third interest rate cut of the year, lowering the deposit rate by another 25 basis points, as inflation risks in the European Union ease faster than anticipated. On Friday, investors will be watching the latest U.K. retail sales data and quarterly earnings from Volvo Group.
Persons: Germany's DAX Organizations: Central, CAC, ECB, Volvo Group, Dow Jones Locations: European Union, Asia, Pacific, China, Hong Kong
The People's Bank of China triggered two market support programs after China announced economic data. China's economy grew 4.6% in the third quarter of this year, the country's statistics bureau announced as it touted a "stable growth trend." "The property market unsurprisingly remains the biggest drag on China's growth," wrote Song, adding that stabilization in the real estate market remains "elusive." China's economy is being dragged by factors including a property crisis, high youth unemployment, and deflation. He added that he expects Beijing to continue to do more to support growth so the economy can enter 2025 on better footing.
Persons: , Sheng Laiyun, China's, Lynn Song, Betty Wang, Larry Hu, Rajiv Biswas, who's, Wang Organizations: People's Bank of China, Service, Reuters, Greater China, ING, Oxford Economics, People's Bank of, Macquarie Group Locations: China, Greater, People's Bank of China, Beijing
Sydney’s famous Bondi Beach and other beaches around the Australian city were shut on Thursday as authorities investigated mysterious tar balls that have washed ashore. The dark, sticky, golf-ball-sized blobs were first reported Tuesday on Coogee Beach, leading to a series of beach closures across the city’s shores. The City Council of Randwick, a Sydney suburb that is home to four of the beaches, said preliminary test results showed that the blobs were tar balls, formed when oil comes into contact with debris and water. “We don’t yet know what has happened to produce the debris washing up on our beaches,” Mayor Dylan Parker said in a statement Thursday. The regulator said it was investigating the origin of the debris and whether it posed any risks to the community and environment.
Persons: Bronte, Tamarama, Dylan Parker Organizations: City Council of, , Environment Protection Authority Locations: Bondi, Coogee Beach, Gordons, Clovelly, Maroubra Beach, City Council of Randwick, Sydney, New South Wales, Congong, Little Bay, Malabar
New York CNN —The federal government’s bet on using artificial intelligence to fight financial crime appears to be paying off. The Treasury Department credited AI with helping officials prevent and recover more than $4 billion worth of fraud overall in fiscal 2024, a six-fold spike from the year before. US officials quietly started using AI to detect financial crime in late 2022, taking a page out of what many banks and credit card companies already do to stop bad guys. The Treasury’s use of AI to fight financial crime is just getting started. Officials are testing new data sources to better spot fraud and shady payments, and they are teaming up with state agencies to fight unemployment insurance fraud.
Persons: That’s, “ It’s, Renata Miskell, ” Miskell, it’s, It’s, Janet Yellen, Yellen, Miskell, Organizations: New, New York CNN, US Treasury Department, CNN, Treasury, Treasury Department, Social Security, Internal Revenue Service, Juniper Research Locations: New York, Hong Kong
In yet another incident, crowds of angry drivers gather outside an apartment complex, demanding justice for a fellow delivery driver said to be bullied by security guards there. They’re among the many episodes of explosive confrontations across China involving delivery workers widely circulated on Chinese social media, showing people stretched to the breaking point. As China’s economy grapples with a raft of setbacks, from a protracted property crisis to a lack of consumer spending, delivery workers are taking a beating. That eats into delivery workers’ income as their pay is usually tied to a commission based on the price of the order. In 2019, a delivery driver died after he was hit by a tree knocked over by strong winds in Beijing, according to state media Global Times.
Persons: , , Jenny Chan, Chan, they’ve, Greg Baker, Morningstar, Alibaba, , Lu Sihang, Lu, China’s, Gary Ng, ” Ng, Pedro Pardo, Workers.cn, Yang, Justin Robertson Organizations: Hong Kong CNN, Polytechnic University of Hong, Getty, iiMedia Research, CNN, China New Employment Research Center, Research, China Labour Bulletin, Polytechnic University, Global Times, Chongqing Broadcasting Group Locations: Beijing, Hong Kong, China, Polytechnic University of Hong Kong, AFP, Chinese, Hunan
Speaking to CNBC's Inside India, Kohli noted that India's wealthy now come from a swathe of industries. India's stock market became the fourth-largest in the world at the start of the year, after overtaking Hong Kong. Meanwhile, those whose wealth that falls between 10 to 50 million Indian rupees are in the affluent category, he added. Historically, India's wealthy had a median age exceeding 50. Drivers of India's wealthThe growth in India's wealthy population comes in tandem with the nation's economic progress.
Persons: Ratan Tata, Waterfield, Ratan Tata —, Ambani, Himanshu Kohli, Kohli, Pramod Gubbi, Marcellus, Lee, Gubbi, Knight Frank, What's, Malcolm Dorson, Dorson Organizations: Tata Group, Fortune India, Tata Sons, Tata Steel, Tata Consultancy Services, Tata Motors, Titan Company, Marcellus Investment, Lee Kuan Yew, of Public, National University of Singapore, Bombay Stock Exchange, Global, Volvo, Apollo Locations: India, Tata, CNBC's, Hong Kong, Pune, Hyderabad, Ahmedabad, Chennai, U.S
"There's very little genuine information and data on pricing," he told CNBC via video call. CNBC contacted a dozen New York City art galleries and the same number in London to request price lists for their current exhibitions. "The degree of popularity, the level of scarcity and the degree of credentialization [or] … if something has organically captured the zeitgeist," are factors, he told CNBC by phone. "Despite more online information aiding discovery and valuation, there really isn't a highly liquid global marketplace, contributing to perceptions and realities of 'black box' pricing," Tjan told CNBC in a follow-up email. Making art affordableA visitor takes a photo at the Affordable Art Fair Hong Kong, on May 16, 2024.
Persons: Harriman, they're, Paul Hewitt, Gosia Łapsa, London gallerist, Williams, Tony, Malawska, I've, I'm, Tony Tjan, Charlotte Black, Artclear, Shantell Martin, Bryan Bedder, Black, Tjan, Will Ramsay, Ben Marans Organizations: Getty, CNBC, Foundation Law, New, Society of London Art Dealers, Jeune, Ball, Art Locations: New York City, London, New York, London gallerist Lucca Hue, Hue, U.K, British, Hong Kong
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina has signaled it wants to stem the decline in property market: CGS InternationalRaymond Cheng, managing director and head of research of Hong Kong and China at CGS International, discusses the impact of recent stimulus measures on China's property sector.
Persons: Raymond Cheng Organizations: China, CGS, Hong, CGS International Locations: Hong Kong, China
Since then, economists have been expecting an additional stimulus package worth up to 10 trillion yuan ($1.4 trillion) to restore bullishness in the world’s second-largest economy. Chinese Housing Minister Ni Hong attends a press conference on the property sector in Beijing, China, on October 17, 2024. Widespread concernThe ailing property sector is widely believed to lie at the root of China’s numerous economic woes. It also cut the reserve requirement ratio for banks by half a percentage point, which would free up about 1 trillion yuan ($142 billion) for new lending. The resulting crisis has resulted in a precipitous fall in real estate prices and loss of confidence among consumers.
Persons: Xi Jinping, Housing Ministry didn’t, Larry Hu, , , Ni, Minister Ni Hong, Florence Lo, Xiao Yuanqi, Pan Gongsheng Organizations: Hong Kong CNN, Housing Ministry, Macquarie, CNN, ” Investors, Ministry of Housing, Ni Hong, Minister, Administration Locations: China, Hong Kong, Shanghai, Beijing
Advocacy group Tax Justice Network has ranked the British Virgin Islands, followed by the Cayman Islands and Bermuda as "most complicit" in helping corporations underpay corporate income tax. Traffic_analyzer | Digitalvision Vectors | Getty ImagesBritish overseas territories are the world's top enablers of corporate tax abuse, according to a ranking by tax advocacy group Tax Justice Network. The British Virgin Islands is the territory "most complicit" in helping multinational corporations underpay corporate income tax, followed by the Cayman Islands and Bermuda, according to the latest update to TJN's Corporate Tax Haven Index earlier this month. TJN estimates that the UK and its British tax havens cost other countries an estimated $84 billion in corporate taxes annually. Defending themselves against the charges made by the advocacy group, spokespersons from some of the governments said they were in full compliance with international tax standards set by the Organisation for Economic Co-operation and Development.
Persons: FCDO, Broad, TJN, pushback Organizations: Tax, Network, Getty Images, Tax Justice Network, Corporate, TJN, CNBC, Switzerland, Organisation for Economic Co, Development, British, Foreign, Commonwealth, Development Office, OECD, CRS, Crown Dependencies, Overseas, BVI Finance, British Virgin Islands, UK Government, United Nations, UN Locations: British Virgin Islands, Cayman Islands, Bermuda, British, Singapore , Hong Kong, Netherlands, United Kingdom, Jersey, Overseas Territories, British Virgin, U.S, Australia, Canada, Israel, Japan, New Zealand, South Korea
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina property market is going to be a problem for next 10 years or so, economist saysFreya Beamish, chief economist at TS Lombard, discusses China markets after a briefing from the country's housing ministry disappointed investors, pulling Hong Kong-listed property stocks lower.
Persons: Freya Beamish Organizations: China, TS Lombard Locations: China, Hong Kong
Geopolitics is the biggest challenge for Hong Kong: Economist
  + stars: | 2024-10-17 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGeopolitics is the biggest challenge for Hong Kong: EconomistLe Xia, Chief Economist for Asia-Pacific at BBVA, discusses Hong Kong Chief Executive John Lee's annual policy address, saying greater access to fund flows and lower interest rates will be positive for the economy.
Persons: Le Xia, John Lee's Organizations: Hong Kong, BBVA Locations: Hong, Asia, Pacific
Chinese media reported that China could rack up $850 billion in debt to help revive its economy. China has vowed to roll out more fiscal stimulus, but key details were missing in a recent update. AdvertisementChina's fiscal stimulus efforts could include racking up almost $1 trillion in fresh debt over the next several years, according to local media. The money could be used as fiscal stimulus and to help "off-the-books debt" in local governments, the people added. One researcher recently estimated that the direct effects of China's latest stimulus package may not be felt until 2025, mainly because more fiscal stimulus needs to be unlocked before the policies can bolster the nation's economy.
Persons: , Lan Fo'an Organizations: Service, China's, Finance, CNBC, Bloomberg, CSI Locations: China, Beijing, Hong Kong
Their task is to “strengthen and develop” their strategic partnership, the Russian defense chief added. Russia and China have been bolstering their security coordination in the face of shared frictions with the West. Belousov also held talks a day earlier with Chinese Defense Minister Dong Jun, who ranks below Zhang in China’s military hierarchy. Belousov’s arrival in Beijing Monday coincided with China’s military flying a record number of fighter jets and other warplanes around Taiwan during large-scale military drills. China said the drills were intended as a “stern warning” to what it described as pro-independence forces in Taiwan.
Persons: that’s, Andrey Belousov, Zhang Youxia, Xi Jinping, That’s, Zhang, Xi, Vladimir Putin, Belousov, Dong Jun, Andrei Belousov, Wang Yi, Putin, Lai Ching Organizations: Hong Kong CNN, US, China’s, Military Commission, Tass, China’s Defense Ministry, Chinese Defense, Russia's Defense, China's, Russian Defence Ministry, Reuters China’s Ministry of Foreign Affairs, Canadian Locations: China, Hong Kong, Beijing, Russia, Washington, Russian, Kazan, BRICS, Moscow, Ukraine, Ocean, Alaska –, South China, Taiwan
The creator and marketing company Triller is finally trading on the Nasdaq under the ticker ILLR. The company went public via a reverse merger with a Hong Kong-based company called AGBA. A reverse merger occurs when a private company goes public by acquiring a publicly listed company. That didn't come to fruition, and in December 2021, the company announced plans to complete a reverse merger with a company called Seachange International. Creators, brands, and consumers are the main cohorts that AGBA touts as central to Triller's business in its recent filings.
Persons: Triller, , TikTok —, It's, Julius, AGBA, Triller's, Mike Lu, Lu Organizations: Nasdaq, Service, AGBA, Holding, Clubhouse Media, Reuters, Seachange, SEC, Big Tech, AGBA's, Facebook, YouTube, Business, Billboard Locations: Hong Kong, buzzy
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHong Kong needs to diversify and build 'growth engines': EconomistAlicia Garcia-Herrero, Chief Economist for Asia Pacific at Natixis, talks about key challenges that Hong Kong faces, adding that the city's economy needs to be diversified further to attract talent and drive future growth.
Persons: Alicia Garcia Organizations: Hong, Asia Pacific Locations: Hong Kong, Natixis
Hong Kong Chief Executive John Lee Ka-chiu delivers his annual policy address at the Legislative Council on Oct. 16, 2024, in Hong Kong. Hong Kong chief executive John Lee announced moves aimed at addressing the city's housing affordability crisis, calling it "an issue of great public concern" in an annual policy address on Wednesday. Under the plan, the Hong Kong Housing Authority will allocate an extra ballot number to applicants aged below 40 — a move that will increase their chances of being selected for the city's subsidized Home Ownership Scheme flats. He also said the government expects to complete about 9,500 new public housing units next year, moving toward a goal of completing about 30,000 units by 2027-2028. The current wait time for a public housing unit in Hong Kong is 5.5 years.
Persons: John Lee Ka, chiu, John Lee, Hong Kongers, Lee Organizations: Legislative, Hong, Hong Kong Housing Authority Locations: Hong Kong, Hong Kong . Hong Kong
The mysterious veil of the Treasury monument in Petra, Jordan, has been lifted once again. Beneath the ancient rock-cut building, archaeologists have uncovered a hidden tomb containing 12 relatively well-preserved human skeletons along with an extensive array of grave offerings. From left: Prof. Richard Bates, excavations at the Treasury. Courtesy of Professor Richard Bates / University of St. AndrewsInside were 12 human skeletons at their original burial site, including one grasping the top part of a broken jug that most likely dates to the first century BC. The discovery could provide new insight into the Treasury, whose purpose remains unknown, as well as the Nabatean people.
Persons: Al Khazneh, ” Richard Bates, Bates, Richard Bates, ” Bates, Steven Spielberg’s, Indiana Jones, Organizations: Treasury, UNESCO, University of St, NBC News, Jordanian Department of Antiquities, American Center of Research, Discovery Locations: Petra, Jordan, Nabatean Kingdom, Andrews, Scotland, American, Amman
A next generation agendaGITEX GLOBAL will span 40 halls across two locations, bringing together the entire international technology community to set the global agenda for the future AI economy. With the global AI market projected to reach $2.7 trillion by 2032, the event will showcase the latest advancements driving this remarkable growth. GITEX GLOBAL 2024 AGENDA MONDAY: TECH INVESTMENT DAY - Explore the latest investment trends that are reshaping global wealth. In addition, the World Future Economy Digital Leaders Summit will see global innovators and influential leaders address critical priorities shaping the future of technology. By bringing together diverse stakeholders from across the globe, the event is poised to shape the future of the AI economy and reinforce Dubai’s vision of becoming a global tech hub.
Persons: Martin Pfeiffer, Fabrizio del Maffeo, Alexander Zhavoronkov, Dr, Diane Janosek, Brett Johnson, Ekaterina Serban, Surinder Organizations: Dubai World Trade, Dubai Harbour, TECH, Tech, Google, Huawei, IBM, Microsoft, Nvidia, Oracle, European NVIDIA, , InSilico, supercomputing, UAE Cybersecurity Council, TCB, National Security Agency, Pentagon, Bosch, Paramount Locations: Dubai, European, Hong Kong
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