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☆ Macao's next leader wants to wean economy off gambling
▼ + stars: | 2024-10-14 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

Slated to become the next leader of Macao, Sam Hou Fai wants to steer China's special administrative region further away from its heavy reliance on gaming and gambling. Formerly Macao's top judge, Sam was elected Macao's next leader in an uncontested vote on Sunday. In the lead-up to his selection, the 62-year-old identified the diversification of Macao as an urgent issue to address. He added he would consider creating public funds to promote the development of emerging industries outside gaming and gambling. However, that reliance backfired during the Covid-19 pandemic when the gambling and gaming industries took major hits from border closures and social distancing policies.

Persons: Sam Hou Fai, Sam, Macao's, Ho Iat Seng, wouldn't, Seng Organizations: Trade, Beijing Locations: China, Macao, Greater China, Beijing

☆ UOB names potential 'pockets of growth' in the Southeast Asian market
▼ + stars: | 2024-05-08 | 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 EmailUOB names potential 'pockets of growth' in the Southeast Asian marketWai Fai, CFO at UOB, says it's optimistic about "semiconductors in Malaysia, commodities in Indonesia, [electric vehicles] in Thailand and manufacturing in Vietnam."

Persons: Fai Organizations: UOB Locations: Malaysia, Indonesia, Thailand, Vietnam

☆ China may be shaking out of its slump, and its economy could grow 5% this year after a surprising first-quarter performance, BofA says
▼ + stars: | 2024-04-19 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

China's breakout from its economic slump may also mean less government support ahead, BofA said. BofA doesn't expect a "a full-blown growth rebound" as real estate woes and weak demand are still a problem. AdvertisementBank of America boosted its forecast for China's economic growth in 2024 on the heels of a surprisingly strong first-quarter performance from the world's second-largest economy. AdvertisementWith a robust first quarter dataset in hand, policymakers may be less inclined to intensify easing measures, dashing hopes for imminent policy support, according to the bank. The analysts wrote that they anticipate a gradual growth deceleration through the rest of 2024 as policy support wanes.

Persons: BofA, —, Helen Qiao, wasn't Organizations: of America, Service, Bank of America, FAI Locations: China

☆ What is Lunar New Year? A 2024 guide to the Year of the Dragon
▼ + stars: | 2024-02-07 | by ( Maggie Hiufu Wong | ) edition.cnn.com time to read: +8 min

Whether you’re unfamiliar with Lunar New Year or need a refresher, this guide will highlight some of the most common traditions associated with the occasion. Tourists visit a Lunar New Year Lantern Festival in Shanghai on January 21, 2024. Though incredibly complex, the Chinese zodiac calendar is best described as a 12-year cycle represented by 12 different animals, in this order: Rat, Ox, Tiger, Rabbit, Dragon, Snake, Horse, Goat, Monkey, Rooster, Dog and Pig. Festive cakes and puddings are made on the 24th day of the last lunar month (February 3 in 2024). Day 3: Visit a templeDay three of the Lunar New Year (which falls on February 12 in 2024) is named “chi kou/cek hau,” or red mouth.

Persons: Sui, ”, Nian, gao ”, You’ll, It’s, warding, kou, cek hau, it’s, Yuan Xiao Jie, Yuan, Xiao Organizations: Hong Kong CNN, Lantern, fai chun, Visitors Locations: Hong Kong, Shanghai, China, Asia, Malaysia

☆ Lionel Messi no-show ignites booing and calls for refunds at Inter Miami match in Hong Kong
▼ + stars: | 2024-02-04 | by ( Andrew Mcnicol | ) edition.cnn.com time to read: +7 min

Hong Kong CNN —Thousands of soccer fans in Hong Kong were left disappointed when Argentine superstar Lionel Messi failed to take to the field in a friendly match for Inter Miami on Sunday. What started with overwhelming cheers and rapture ended in boos and calls for refunds in the sold-out, 40,000-seat Hong Kong Stadium. Inter Miami — out to prove a point having gone winless during a worldwide pre-season tour — comfortably defeated a Hong Kong XI 4-1 in an event branded as Tatler XFEST Hong Kong. According to Reuters, tickets went on sale in December and cost between 880 and 4,880 Hong Kong dollars (about $113 and $624). “This whole Messi in Hong Kong thing has been building up for quite some time.

Persons: Lionel Messi, —, Messi, Ballon, Hong, “ Messi, Luis Suárez, Jordi Alba, Sergio Busquets, Louise Delmotte, David Beckham, Messi ”, ”, XFEST, Suárez, “, Gerardo “ Tata ” Martino, Leo, Luis, ” Martino, apologetically, Hong Kong, “ Leo, Suarez, ” Suárez, Martino, Yapp Hung, Yapp, Messi superfan Christer Leung, ” Leung, Lionel, Lam Yik, Reuters “ Messi Organizations: Hong Kong CNN, Argentine, Inter Miami, Hong Kong Stadium, Inter Miami —, Hong, Reuters, CNN, Miami, Al, MLS, Major League Soccer, Hong Kong XI, fai, Messi, Argentina, ’, Inter, USA, Sports, Ardent, Argentina national, Australia, Nigeria, Vissel Kobe Locations: Hong Kong, Saudi Arabia, America, China, Beijing, Argentina, Ivory Coast, Hangzhou, Japan

☆ Coach Kenny doesn't expect to be offered new contract by Ireland after poor Euro campaign
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +2 min

Ireland were eliminated from Euro 2024 qualifying after managing to score six points from eight matches, with the two wins coming against lowly-placed Gibraltar. "Of course, it would be a dream to carry on and manage the team, but my instinct is that's not going to happen. The 52-year-old replaced Mick McCarthy in 2020 and signed a new contract to remain in charge until after Euro 2024. Whatever you did in life, it would be a step-down, no matter what you did, but that's the way it is. "We have had a lot of setbacks and I suppose that's why I'm not getting a new contract if that's the case.

Persons: Stephen Kenny, Kenny, They've, Mick McCarthy, It's, I'm, Pearl Josephine Nazare Organizations: Ireland, Sunday, New Zealand, Thomson Locations: New Zealand, Ireland, Gibraltar, Netherlands, Dublin, Bengaluru

☆ Hong Kong is paying new parents $2,500 for having a baby but that won’t even pay a month’s rent
▼ + stars: | 2023-10-26 | by ( Chris Lau | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —Hong Kong is to pay new parents more than $2,500 for having a baby in a bid to boost its flagging birth rate, but many residents in the notoriously expensive city say it’s barely enough to cover a month’s rent. In Japan (birth rate 1.3), parents get a monthly allowance of $107 dollars for each newborn until two years of age. For each child between three years old and senior high, parents get $66.7 per month. Hong Kong subsidizes education from kindergarten to senior high, but nursery, the year or two before kindergarten, is not usually covered. “The government should be thinking about how to convince [us] that Hong Kong is conducive to child-raising,” Lau said.

Persons: John Lee Ka, chiu, ” Lee, ”, Ken Lau, Kristy Chan, ” Lau, Kim Yeung, ” Yeung, Paul Yip Siu, Hong, ” Yip, Sze Lai, Sze, Lau, “ Organizations: Hong Kong CNN, Hong, HK, CNN, Midland Realty, fai, University of Hong, Society for Community Organization Locations: Hong Kong, East Asia, Singapore, South Korea, Japan, University of Hong Kong

☆ U.S. and China commercial property markets face headwinds but UOB is optimistic on Southeast Asia
▼ + stars: | 2023-10-26 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Commercial real estate markets in the U.S. and China are economic pain points to monitor in a higher-for-longer rate environment, said Singapore's United Overseas Bank. But the bank remains optimistic about one key region. "The U.S. commercial real estate remains a hotspot, especially with the low occupancy rates that we have," Lee Wai Fai, chief financial officer of UOB told CNBC's "Street Signs Asia." "The other hotspots will be China, there [are] worries about the quality and whether they can manage the property uncertainty in China," he added. Lee added the world is heading into a more "uncertain environment" and the impact of higher-for-longer interest rates is starting to filter through the economy.

Persons: Lee Wai Fai, UOB, CNBC's, Lee Organizations: Singapore's United Overseas Bank Locations: U.S, China

ALBUQUERQUE, N.M. (AP) — It’s been 15 years since the world’s elite gas balloon pilots have gathered in the United States for a race with roots that stretch back more than a century. Their ballooning résumé includes four wins in the America's Challenge long-distance gas balloon race, and third- and fourth-place finishes in previous Gordon Bennett competitions. Unlike the colorful hot air balloons that ascend en masse during the Albuquerque International Balloon Fiesta by using heated ambient air, gas balloons have an envelope filled with a gas lighter than air — usually hydrogen. He recalled the Gordon Bennett competition that occurred after the 9/11 attacks in 2001. The gas balloons were the only things in the sky as planes were still grounded.

Persons: — It’s, Gordon Bennett, They're, Willi Eimers, Benjamin, Albuquerque balloonists Barbara Fricke, Peter Cuneo, Fricke, Cuneo, “ You've, ” Fricke, Mark Sullivan, Cheri White, Sullivan, White, Jacques Soukup, ” Sullivan, “, We’re, let’s, ” Organizations: U.S, FAI, Pilots Locations: ALBUQUERQUE, N.M, United States, New Mexico, Albuquerque, U.S, Canada, Belgium, West Texas, Belarus

☆ FAI did not make formal contract offer to Pauw, says chief exec
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +2 min

Following its review, the FAI said it would not renew her contract, which expired at the end of last month. Pauw said on Aug. 31 that she had begun talks with the FAI over a new contract in March and that it had "committed to issuing an offer" before reconsidering their position. "At no point was a contract offer ever presented to Vera," chief executive Hill told reporters on Thursday. "Conversations did not progress to a point where a formal offer was made to Vera ... and in advance of the World Cup, we decided to pause discussions." "We believed it was not appropriate to offer a new contract at this point."

Persons: Vera Pauw, Dan Peled, Jonathan Hill, Vera Pauw's, Pauw, Vera, Hill, Houston Dash, Hritika Sharma, Peter Rutherford Organizations: Soccer Football, FIFA, Brisbane Football, REUTERS, Ireland FA, FAI, Athletic, Houston, U.S ., Thomson Locations: New Zealand, of Ireland, Nigeria, Brisbane, Australia, Republic, Ireland, U.S, Hyderabad

☆ Former Ireland coach Pauw says FAI 'undermined' her during World Cup
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +2 min

Sept 1 (Reuters) - Former Ireland coach Vera Pauw said executives from the country's football association (FAI) undermined her position and interfered in football matters during the Women's World Cup. Dutch coach Pauw led Ireland to their first major tournament this year in Australia and New Zealand, where they exited in the group stage. Eileen Gleeson, FAI's head of women and girls' football, was appointed interim head coach. "Following the article ... which included allegations I absolutely refute, I believe the FAI made some major mistakes by directly overruling the tasks of the coach," Pauw said on Thursday in a statement cited by the Irish Times. "I believe that the review process which the association has carried out was flawed and that the outcome was pre-determined," Pauw added.

Persons: Vera Pauw, Pauw, Eileen Gleeson, FAI's, Houston Dash, Hritika Sharma, Peter Rutherford Organizations: FAI, Athletic, Houston, Irish Times, Thomson Locations: Ireland, Australia, New Zealand, Hyderabad

☆ UOB's CFO discusses the bank's second-quarter earnings
▼ + stars: | 2023-07-27 | 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 EmailUOB's CFO discusses the bank's second-quarter earningsLee Wai Fai, group chief financial officer at UOB, explains why it expects the second half of the year to be better than its challenging first half.

Persons: Lee Wai Fai

☆ Singapore's UOB expects 'some upside' to interest income after Fed rate hike
▼ + stars: | 2023-07-27 | by ( Clement Tan | ) www.cnbc.com time to read: +1 min

Singapore's United Overseas Bank is expecting "some upside" in interest income in the next quarter, after the U.S. Federal Reserve announced a fresh rate hike overnight. Its net interest income for the quarter grew 31% from a year ago — boosted by robust net interest margin that expanded 50 basis points to 2.13% on higher interest rates, the Singapore-based lender said in a statement released early Thursday. Net interest margin, a measure of lending profitability for banks, is the difference between interest earned and interest paid. Overnight on Wall Street, the Fed raised interest rates by 25 basis points, taking its benchmark borrowing costs to a target range of 5.25%-5.5% — the highest level in more than 22 years. The midpoint of that target range would be the highest level for the benchmark rate since early 2001.

Persons: Lee Wai Fai, CNBC's JP Ong Organizations: Singapore's United Overseas Bank, U.S . Federal Reserve Locations: Singapore

☆ Women’s World Cup: Hosts New Zealand and Australia kick off 2023’s summer of football
▼ + stars: | 2023-07-19 | by ( Thomas Schlachter | ) edition.cnn.com time to read: +5 min

CNN —The 2023 Women’s World Cup finally gets underway on Thursday with the two host nations kicking off the tournament and the summer of footballing festivities. “What this World Cup stands for, and these milestones are even more important and bigger than me and any of my goals on the soccer field. John Cowpland/APAda Hegerberg’s World Cup comebackNorway comes into the game against their hosts as heavy favorites and with star quality all over the pitch. McCabe has overcome a late injury scare to make the World Cup and embodies her national team’s courageous and battling style of play. Stephen McCarthy/Sportsfile/Getty ImagesHow to watchNew Zealand vs Norway kicks off at 03:00 AM ET with Australia vs Republic of Ireland starting at 08:00 AM ET.

Persons: Ada Hegerberg, Sam Kerr, “, Ali Riley, CNN’s Amanda Davies, ” Riley, John Cowpland, Ada, Ballon d’Or Féminin, Hegerberg, Harriet Lander, Kerr, Michael Regan, Katie McCabe, McCabe, Stephen McCarthy Organizations: CNN, Norway, New, New Zealand, Zealand, Football Ferns, football’s, Hegerberg, Norwegian Football Federation, Olympique Lyonnais Féminin, Getty, Australia, Republic, Chelsea, Brazil, USA, Italy, Women's Super League, Republic of Ireland, Colombia, Football Association of Ireland, FAI, Arsenal Locations: New Zealand, Norway, Australia, Republic of Ireland, New, Zealand, Ireland, Republic of, The Republic, Swiss, Brisbane

☆ Ireland abandons ‘overly physical’ pre-Women’s World Cup friendly with Colombia after 20 minutes; players ‘feared for themselves’
▼ + stars: | 2023-07-15 | by ( Ben Morse | ) edition.cnn.com time to read: +2 min

CNN —A pre-Women’s World Cup friendly between the Republic of Ireland and Colombia was abandoned after it was deemed “overly physical,” the Football Association of Ireland (FAI) said in a statement. The behind-closed-doors match in Brisbane, Australia ended after 20 minutes, the FAI said on Friday, with the team proceeding to take part in a full training session instead. “The game, which was held in Meakin Park, Brisbane, became overly physical and it was decided, following consultation with the match officials, to end the game,” the FAI said, per Reuters. One of Ireland’s key players, midfielder Denise O’Sullivan, had an x-ray and scans on an injury sustained during the friendly. Ireland begins its campaign against Australia on the opening day, while Colombia’s first match is against South Korea on July 25.

Persons: Denise O’Sullivan, Vera Pauw, “, ” Pauw, Denise, Colombia’s Organizations: CNN, Football Association of Ireland, FAI, Reuters, Sky Sports, Colombian Football Federation, National Team, Australia, South Locations: Republic of Ireland, Colombia, Brisbane, Australia, Meakin Park, Ireland, New Zealand, South Korea

☆ Ancient galaxy reveals a surprising way to annihilate a star
▼ + stars: | 2023-06-22 | by ( Ashley Strickland | ) edition.cnn.com time to read: +6 min

The explosion lasted just over a minute — considered long, like any gamma-ray burst, or GRB, that lasts more than two seconds. These violent, destructive bursts can leave behind dense remnants like neutron stars or result in the creation of black holes. Why ancient galaxies could hide star deathsDuring their search for the origin of the gamma-ray burst, astronomers used the Gemini South telescope located in Chile to observe the afterglow of the cosmic explosion. Compared with younger, more typical galaxies, ancient galaxies can have up to a million or more stars densely packed into their cores. But they had no evidence for any long gamma-ray bursts originating from ancient galaxies — until now.

Persons: NASA’s Neil Gehrels, ”, Wen, fai Fong, Andrew Levan, Albert Einstein, Jillian Rastinejad, Fong Organizations: CNN, fai, Northwestern University’s Weinberg College of Arts and Sciences, Radboud University, telltale, Center for Interdisciplinary Exploration, Research, Astrophysics, Northwestern Locations: Nijmegen , Netherlands, Chile, Northwestern

☆ Jack Ma, who disappeared from public view in 2020, just accepted a teaching position in Japan. Here's how the Alibaba and Ant Group founder got started and amassed a huge fortune.
▼ + stars: | 2023-05-01 | by ( Madeline Stone | Avery Hartmans | Sam Tabahriti | ) www.businessinsider.com time to read: +2 min

Jack Ma, the billionaire founder of Alibaba and Ant Group, accepted a teaching role in Japan. Ant Group said Ma would give up control of the fintech company amid closer scrutiny from Beijing. Alibaba and Ant Group founder Jack Ma, who disappeared from public view in 2020 and resurfaced in Thailand in January, has accepted a teaching role in Japan. Ma is expected to conduct research on sustainable agriculture and food production, Tokyo College said in an announcement on May 1. Jay Fai restaurant in Bangkok, Thailand, posted a photo of Ma when he resurfaced.

☆ Asia's 'best restaurants' list is out — and it's no surprise which country made the list 17 times
▼ + stars: | 2023-03-29 | by ( Goh Chiew Tong | ) www.cnbc.com time to read: +10 min

William Drew, director of content for Asia's 50 Best Restaurants, said Japan's strong performance is "no surprise." The top 50 restaurants in AsiaThis year commemorates the 10th anniversary of the "Asia's 50 Best Restaurants" list. Asia's top 50 restaurantsThe list of "Asia's 50 Best Restaurants" for 2023 are: 1. Ten restaurants that ranked among Asia's best 50 restaurants last year fell into the 51-100 ranking this year. Asia's 50 Best Restaurants 2023Labyrinth also rose 29 spots to No.11, winning the "Highest Climber" award.

☆ The Twitter leaders Elon Musk put in place keep quitting or getting fired. See who's left and who's recently been hired, including engineers from Google's DeepMind and a Tesla superfan.
▼ + stars: | 2023-03-03 | by ( Kali Hays | ) www.businessinsider.com time to read: +6 min

About half of the 20 people who reported to Elon Musk after his takeover have left Twitter. Musk has hired some new people, including engineers who may be working on an AI project. Elon Musk's Twitter is ruled by chaos. None have been directly replaced, the people familiar said, although Musk has also hired some new people from outside his companies. Below is a complete list of who Musk set as his direct reports, including those who have already left the company.

SINGAPORE, Jan 31, (Reuters) - Like many rich Chinese, graduate student Zayn Zhang thinks Singapore could be ideal to park his family's wealth. His family might establish a Singapore family office to manage its wealth in the future, he added. Well-known Singapore family offices include those set up by James Dyson of vacuum cleaner fame, hedge fund manager Ray Dalio and Zhang Yong, founder of China's Haidilao hotpot restaurant chain. Though fresher statistics are not available, those involved in the industry said interest in family offices picked up in 2022 and is expected to continue unabated this year. While some are setting up family offices, others are setting up business headquarters in Singapore or investing in funds domiciled in Singapore, she said.

☆ Jack Ma, the billionaire founder of Alibaba who disappeared from public view in 2020, appears to resurface in Thailand as he prepares to give up control of his company
▼ + stars: | 2023-01-07 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

The picture of Ma was posted hours before Ant Group said Ma was giving up control of the company. Ant Group abandoned a blockbuster float in 2020 soon after Ma criticized Chinese regulations. Ma disappeared from public view in October 2020 after giving a speech criticizing China's financial regulation system. Once China's richest man, Ma's net worth has fallen by more than $25 billion since he disappeared from public view, per the Bloomberg Billionaires Index. The Financial Times suggested in November that he had been living in Tokyo for six months, staying out of public view and mainly socializing in private members' clubs.

☆ Jack Ma, who disappeared from public view in 2020, has resurfaced in Thailand. Here's how the Alibaba and Ant Group founder got started and amassed a huge fortune.
▼ + stars: | 2023-01-07 | by ( Madeline Stone | Avery Hartmans | Sam Tabahriti | ) www.businessinsider.com time to read: +1 min

Jack Ma, the billionaire founder of Alibaba and Ant Group, resurfaced in Thailand on Friday. Ant Group said Ma will give up control of the fintech company amid closer scrutiny from Beijing. He grew up poor and faced multiple job rejections but amassed billions. Jay Fai restaurant in Bangkok, Thailand, posted a photo of Ma, which he appeared to have just visited. The billionaire faced a crackdown from Chinese regulators in 2020 that resulted in an antitrust investigation, a suspended IPO, and Ma losing $12 billion of his fortune in just a few months.

☆ Chinese billionaire Jack Ma spotted in Bangkok - Thai media reports
▼ + stars: | 2023-01-07 | by ( ) www.reuters.com time to read: +2 min

BANGKOK, Jan 7 (Reuters) - Alibaba Group (9988.HK) founder Jack Ma was spotted socialising in Bangkok this week, having stayed out of the public eye since regulators in China launched a clampdown on his business empire in late 2021, social media posts and local media reports showed. Several local media also reported that Ma was at the restaurant with Supakit Chearavanont, Chairman of the Board of Charoen Pokphand Group (CP Group) and Charoen Pokphand Foods PCL (CPF.BK), Thailand's largest agribusiness group. Media also reported that Ma attended a boxing match at Bangkok's Rajadamnern Stadium where he posed with clenched fists for a photograph with Thai boxing champion Sombat "Buakaw" Banchamek. The Jack Ma Foundation did not immediately respond to Reuters' request for comment. Ma will give up control of the Chinese fintech giant Ant Group in an overhaul that seeks to draw a line under a regulatory crackdown that was triggered soon after its $73 billion IPO was scupper two years ago.

☆ As TikToks about Antarctic tourism go viral, some worry about the environmental costs
▼ + stars: | 2022-12-10 | by ( Morgan Sung | Morgan Sung Is A Trends Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +5 min

The Drake Passage is the body of water between the southernmost tip of Chile and Antarctica's northern peninsula. Travel company Oceanwide Expeditions describes the Drake Passage as a "lively little waterway" and the "gateway to the Antarctic." Many TikTok users expressed fascination with the Antarctic travel content, but were also perplexed with the sudden influx of videos about visiting the largely barren continent. In wake of the influx of travel content about Antarctica, some on TikTok have raised concerns over the environmental impact of Antarctic tourism. In a post responding to Ramos' video about the Drake Passage, TikTok creator jijis.m0m showed screenshots of articles about pollution in Antarctica.

☆ Rare cosmic collision acted like one of the ‘factories of gold’ in the universe
▼ + stars: | 2022-12-08 | by ( Ashley Strickland | ) edition.cnn.com time to read: +5 min

The gamma-ray burst, called GRB 211211A, lasted about a minute. Gamma-ray bursts are considered among the strongest and brightest explosions in the universe, and they can range from a few milliseconds to several hours in length. An artist's illustration of GRB 211211A shows the kilonova and gamma-ray burst (right) and ejected material from the explosion (left). After determining that a kilonova created the infrared light, astronomers grew even more puzzled by the gamma-ray burst’s duration. Gamma-ray bursts caused by these rare explosions have only ever been observed to last less than two seconds, but this signal lasted for at least one minute.

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