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☆ Move over, Tokyo. Hong Kong is now the most expensive city to build, survey shows
▼ + stars: | 2024-06-21 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

Hong Kong has surpassed Tokyo as Asia's most expensive city to build property as rising construction prices add to a worsening labor crunch, a new market survey released by Turner & Townsend showed. The UK-based property consultancy projected that Hong Kong's average construction cost this year will rise 4.8% to $4,500 per square meter, ranking it ninth globally out of 91 cities surveyed. This has been especially true in Hong Kong, with the city's construction industry facing a manpower shortage as the city grapples with an aging population. According to the Hong Kong Construction Industry Council, this skilled labor gap is expected to reach as high as 40,000 people by 2027. Last year, the Hong Kong Census and Statistics Department projected that Hong Kong's aging population would get worse amid low fertility rates last year.

Persons: Townsend, Hong, Sumit Mukherjee Organizations: Turner, New, Hong Kong Construction Industry Council, Hong Kong Census, Statistics Department Locations: Hong Kong, Tokyo, U.S, Switzerland, New York City, San Francisco, Zurich, Asia

☆ Spicy Noodles and Pickled Fish: Chinese Eateries Move Into Hong Kong
▼ + stars: | 2024-06-20 | by ( Alexandra Stevenson | Zixu Wang | ) www.nytimes.com time to read: 1 min

The ravenous came for a taste of home in a dish of spicy fried beef or steamed fish head. It was opening night in Hong Kong at Return Home Hunan, a well-known chain from mainland China trying to wedge into the city’s competitive food scene. Huang Haiying, the restaurant’s founder, greeted customers in a bright red suit while waiters handed out red envelopes stuffed with coupons. Hong Kong is a difficult place to open a restaurant these days. But restaurant owners from mainland China, facing their own challenges at home, see an opening.

Persons: chiles, Huang Haiying, Ms, Huang, “ We’ll, ” Organizations: Return Home Locations: Hong Kong, Return Home Hunan, China

☆ I traveled with friends in my early 20s and again in my 40s. I love traveling with girlfriends at different life stages.
▼ + stars: | 2024-06-19 | by ( Melissa Noble | ) www.businessinsider.com time to read: +7 min

I sat down and checked my backpack for the 10th time to make sure my passport and wallet were still inside. Melissa Noble and her friends traveled together throughout Cambodia and Vietnam when they were in their 20s. We met at college and traveled through Cambodia and Vietnam together in our early 20s. The main one was how much I love traveling with girlfriends at different life stages. Melissa Noble and her friends connected while traveling.

Persons: —, Melissa Noble, Carmen, Peter Andre, what's Organizations: Service, Singapore Changi, Business Locations: Singapore, Bhutan, Brisbane, Cambodia, Vietnam, Kathmandu, Bhutanese, Gasa, Southeast Asia, Australia, Hong Kong

☆ She grew up helping her grandparents run a shoemaking shop. In college, she came up with a plan to save it.
▼ + stars: | 2024-06-19 | by ( Faye Bradley | ) www.businessinsider.com time to read: +6 min

Miru Wong with her grandfather Wong Tat-wing at the original Sindart shop. The cheapest pair is made without embroidery and costs 99 Hong Kong dollars, or $12. Wong says most of the materials — including nylon, silk, satin, and brocade — are sourced from Hong Kong, Japan, and Europe. AdvertisementOthers feel that more can be done in order to pass down the skills in Hong Kong. "Rising labor costs in Hong Kong also make it difficult for traditional shoemakers to maintain profitability," Cho said.

Persons: —, Miru Wong, Hong, Wong Tat, Wong, Wong reguarly, she's, shoemakers, Erin Cho, Cho, Lindsay Varty, Varty Organizations: Service, Polytechnic University, Business, Hong, HK, Hong Kong Polytechnic University's School of Fashion, Textiles, Social, Sunset Locations: Hong Kong, Japan, Europe

☆ Hong Kong stock markets will continue trading during typhoons, starting Sept. 23
▼ + stars: | 2024-06-18 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

HONG KONG, CHINA - OCTOBER 13: A taxi crosses an empty intersection in the Central business district during a No. 8 Storm signal raised for Typhoon Kompasu, the 18th typhoon of this year, on October 13, 2021 in Hong Kong, China. Hong Kong's financial markets will continue trading even during typhoons and extreme weather starting from Sept. 23, Chief Executive John Lee announced Tuesday. "Hong Kong is an international financial center and there is no reason for us not to align with international financial standards," Lee said. He noted that in consultations conducted by the Hong Kong Exchange, over 90% of brokerage firms and securities firms supported the proposal.

Persons: Kompasu, John Lee, Lee Organizations: Hong Kong Exchange Locations: HONG KONG, CHINA, Central, Hong Kong, China, Hong

☆ 'Robust growth opportunity': Citi loves this global stock as it pivots to AI data centers
▼ + stars: | 2024-06-18 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Industrial property firm Goodman Group is converting its traditional warehouses into data centers to meet the surging demand for artificial intelligence infrastructure. Citi believes this trend will likely drive "double-digit medium-term earnings growth" and has added the Australian stock to its "Pan-Asia Focus list." Data centers are large buildings that house critical computing infrastructure and equipment. "As it progresses opportunities in data centers, it is likely to deliver a large range of products from powered sites and turnkey projects." Electricity has been a key bottleneck preventing many data centers from further expansion.

Persons: Howard Penny, Goodman Organizations: Goodman Group, Citi, GMG Locations: Asia, Sydney, United States, Australia, Japan, Hong Kong, Singapore

☆ New high-speed sleeper train service connects Hong Kong with Beijing and Shanghai
▼ + stars: | 2024-06-16 | by ( Maggie Wong | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —Interested in capping off your trip to Hong Kong with a long weekend in Beijing or Shanghai? A new high-speed sleeper train service is making that possibility easier than ever. Return trips depart from Beijing and Shanghai at around 8 p.m. and arrive in Hong Kong at 8.47 a.m. and 7.29 a.m. A passenger with a child boards the high-speed sleeper train in Beijing for its inaugural journey to Hong Kong's West Kowloon Station. Jia Tianyong/China News Service/VCG/Getty ImagesHong Kong’s controversial high-speed railwayOpened in 2018, the 26-kilometer Hong Kong high-speed railway is a part of the larger Guangzhou-Shenzhen-Hong Kong Express Rail Link (XRL).

Persons: ” John Lee, Hong, Jia Tianyong Organizations: Hong Kong CNN, Hong Kong West Kowloon Station, China News Service, Passengers, China, ”, Hong, Hong Kong Express, Express Locations: Hong Kong, Beijing, Shanghai, Hong Kong West Kowloon, Kowloon, Hong, China, cn, China , Hong Kong, Guangzhou, Shenzhen

☆ Hong Kong wants residents to smile more but experts warn prices and competition are bigger issues for tourism
▼ + stars: | 2024-06-14 | by ( Dylan Butts | ) www.cnbc.com time to read: +4 min

Guests posing for a group photo at the "Let's Go the Extra Mile" hospitality campaign launch ceremony at the Central Government Office in Hong Kong on June 3, 2024. In response, the Hong Kong government launched a campaign – titled "Let's Go the Extra Mile" – encouraging frontline staff and members of the public to demonstrate good hospitality and "reinforce Hong Kong's brand as the best tourism destination." Hong Kong's currency is pegged to the U.S. dollar, which has helped the city's status as an international financial center. "Both have become equal problems for Hong Kong," he said. While the city's borders were closed during the pandemic, nearby Shenzhen continued to develop into a top-tier Chinese city, Lee said.

Persons: Long, John Lee, Hong Kongers, Allan Zeman, Lan, Kwai, Zeman, mainlanders, Simon Lee Siu, Lee Organizations: Central Government Office, Nurphoto, Getty, Hong, Lan Kwai Fong Group, U.S ., U.S, Sports, Tourism Bureau, HK, Pacific Institute of Business, Chinese University of Hong, Shenzhen Locations: Hong Kong, Shenzhen, Hong, Japan, Asia, Chinese University of Hong Kong

☆ Saudi Arabia is seeking billions in Chinese investment for Neom. But it comes with a massive risk.
▼ + stars: | 2024-06-13 | by ( Tom Porter | ) www.businessinsider.com time to read: +7 min

Read previewAt a recent exhibition in Hong Kong, Saudi Arabia showcased its futuristic vision for its planned Neom megacity. It was part of Saudi Arabia's drive to secure billions in new investment for the project, which is the centerpiece of Saudi ruler Mohammed bin Salman's Vision 2030 strategy. China sees Saudi Arabia as not just a business opportunity but a way of undercutting the influence of its longtime Saudi ally, the US. AdvertisementIn April, Saudi Arabia's Public Investment Fund-subsidiary Alat signed a deal with Dahua Technology, one of China's most important surveillance technology firms. "The main risk today to Saudi Arabia's tech cooperation with China is the growing China-US tech war.

Persons: —, Mohammed bin Salman's, Xi Jinping, Mohammed bin Salman Al Saud, Yue Yuewei, Leonard Chan, Robert Mogielnicki, Abdullah Al, Crown Prince Mohammed, Alat, GREG BAKER, Camille Lons, Neom that's, Saudi Arabian Crown Prince Mohammed bin Salman, Saudi Arabia's, Biden Organizations: Service, Business, Saudi, Saudi Crown Prince, Getty, Hong Kong Innovative Technology Development Association, Gulf States Institute, Crown, Public Investment Fund, Dahua Technology, US, European Council, Foreign Relations, Saudi Arabian Crown, New York Times Locations: Hong Kong, Saudi Arabia, Saudi, Riyadh, Xinhua, China, Washington, Neom, Riyadh Tower, Beijing, Israel

☆ Europe risks trade war with China by hiking tariffs on its electric cars
▼ + stars: | 2024-06-12 | by ( Hanna Ziady | ) edition.cnn.com time to read: +7 min

The European Commission, the EU’s executive arm, launched the probe in October to establish whether Chinese EV prices are artificially low because of subsidies and so hurt European carmakers. Europe is the main destination for Chinese EV exports. The new EV tariffs are likely to kick off intense negotiations between Beijing and Brussels aimed at averting a damaging trade war. Many of them manufacture cars in China and then sell them in Europe, a set-up that will be more costly as a result of the higher tariffs. Alternatively, Beijing could pledge investment into EU countries and promise better market access in China for EU firms, the Rhodium analysts wrote.

Persons: ” Will Roberts, BYD, Roberts, …, Olaf Scholz, ”, Joe Biden, Olesya Dmitracova, Mark Thompson, Shawn Deng, Alex Stambaugh Organizations: London CNN, European Union, European Commission, Commission, Volvo, SAIC, EV, EU, Rho Motion, China’s Ministry of Commerce, Rho, Renault’s, CNN, “, France EU, Group Locations: China, Beijing, European, Brussels, Washington, EU, Europe, Renault’s Dacia, “ Beijing, Germany, France, Spain, United States, Hungary, London, Hong Kong

☆ A memorable bizcation requires a unique blend of work and play. Hong Kong is the perfect destination to make it happen.
▼ + stars: | 2024-06-11 | by ( Sponsor Post | ) www.businessinsider.com time to read: +6 min

When the sun sets in Hong Kong, the sprawling urban metropolis transitions from work to play. Arguably the world's best "bizcation" destination, Hong Kong offers endless activities once business travelers close their laptops for the day. Hong Kong Tourism BoardTo add a bit of mystery into your bizcation, consider exploring Hong Kong's speakeasies. Hong Kong Tourism BoardBut that's not the only attraction lighting up Hong Kong. A memorable bizcation requires a unique blend of work and play — and Hong Kong is the perfect destination to make it happen.

Persons: Hong, Chef Danny Yip, Vicky Cheng, it's, Chai, Noodle, speakeasies, that's, Luna Organizations: Network, Hong Kong's, Argo, Hong Kong Tourism Board, former Marine Police Headquarters, Hong Kong Tourism Board Hong, Insider Studios Locations: Hong Kong, there's, Hong, Wing, Victoria, Clearwater Bay, Tai Hang

☆ From hiking to exploring arts and inspired cuisine, enrich your Hong Kong "bizcation" itinerary with these daytime activities between meetings
▼ + stars: | 2024-06-11 | by ( Sponsor Post | ) www.businessinsider.com time to read: +7 min

Hong Kong is known as a global center of trade and finance, but the city has much more to offer. Here are some must-do daytime experiences to check out between meetings and conferences, transforming your time in Hong Kong from "work trip" to an enriching "bizcation." Sample daytime bizcation itinerary Grab a plastic stool at Shui Kee Coffee to try some of the city's best French toast and Hong Kong milk tea. Find inspiration in Hong Kong's colorful art sceneThere are dozens of museums sprinkled around Hong Kong, but M+ is arguably its most impressive. Hong Kong Tourism BoardIf you're looking for a quiet escape, hop on a ferry to Cheung Chau, a much-loved getaway for Hong Kongers.

Persons: Shui Kee Coffee, Qing, it's, It's, Yau Ma, HKwalls, Ling Lane, Chan Lane, Chung, you've, Wong Tai, Nan Lian Garden, Tai, Hing, Get, Cheung Chau, Hong Kongers, Yang Organizations: Shui, Kowloon Cultural, Hong, Hong Kong Palace Museum, . Hong Kong Tourism Board, Art, Hollywood, Lin, Hong Kong Tourism Board, Hing Kee, Michelin, Rosewood Hong, Insider Studios Locations: Hong Kong, Shui Kee, Kowloon, Victoria Harbour, Hong Kong Palace, Jordan, . Hong Kong, Sai Ying, Wong Tai Sin, Mo, Sheung Wan, Tai Sin, Hing Kee Shanghai, Cheung

☆ Vigilante Hong Kong cabbies went undercover to ensnare illegal Uber drivers. It backfired
▼ + stars: | 2024-06-08 | by ( Chris Lau | ) edition.cnn.com time to read: +8 min

They are vigilante taxi drivers taking direct action, having become increasingly frustrated about Hong Kong authorities’ failure to regulate the ride-hailing platform. Noemi Cassanelli/CNNA Uber app is seen on a mobile phone in Hong Kong, China, on May 24, 2024. Patrick Tam, secretary general of the Hong Kong Taxi & Public Light Bus Association, acknowledged the complaints against some unruly taxi drivers, and said he supported the police going after them. “We just want fair treatment.”So far, Hong Kong police have said they had not arrested any Uber drivers ensnared in the amateur sting operations. And CUHK’s Chan said that, after years of ambiguity, Hong Kong is already playing catch-up.

Persons: Ka Chun, “, Uber, Noemi Cassanelli, CNN Uber, ”, Oliver Chan, Hong, John Lee, Lau, tim, ” Jason Chan, Mo, “ Uber, Patrick Tam, CNN Estyn Chung, CUHK’s Chan Organizations: CNN, Hong, Chinese University of Hong, Taxi, Pictures, hackney, CNN Taxis, HK, Hong Kong Taxi, Light Bus Association, Uber Taxi, Uber Locations: Hong Kong, China, Central, Chinese University of Hong Kong, Jordan, Singapore

☆ Hong Kong will reportedly stop halting stock markets during typhoons and severe weather
▼ + stars: | 2024-06-07 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

8 storm signal raised for Super Typhoon Saola in Hong Kong, China, on Sept. 1, 2023. Hong Kong will no longer shut down its stock market during severe weather conditions, according to a Bloomberg report citing people familiar with the matter. The Hong Kong exchange typically halts trading when a typhoon signal or a so-called "black rainstorm warning" is issued. The previous CEO of Hong Kong Exchanges and Clearing, Nicolas Aguzin, told CNBC in 2022 that the bourse was reviewing that protocol. The Hong Kong exchange is expected to announce the proposed framework in the next few weeks, according to the people who spoke to Bloomberg.

Persons: Nicolas Aguzin Organizations: Super, Bloomberg, Hong, Hong Kong Exchanges, CNBC, bourse Locations: Hong Kong, China

☆ Apollo 8 astronaut William Anders who took iconic ‘Earthrise’ photo dies in plane crash
▼ + stars: | 2024-06-07 | by ( Joe Sutton | Ashley R. Williams | ) edition.cnn.com time to read: +4 min

CNN —William Anders, a NASA astronaut who was part of the 1968 Apollo 8 crew who were the first three people to orbit the moon, has died in a plane crash in Washington state, according to his son, Gregory Anders. Anders served as a fighter pilot in all-weather interception squadrons of the Air Defense Command in California and Iceland, according to NASA and the US Naval Academy. Taken aboard Apollo 8 by William Anders, this iconic picture shows Earth peeking out from beyond the lunar surface as the first crewed spacecraft circumnavigated the Moon, with astronauts Anders, Frank Borman and Jim Lovell aboard. Anders served as the lunar module pilot for the historic flight. Anders served as Executive Secretary for the National Aeronautics and Space Council from 1969 to 1973, according to NASA.

Persons: William Anders, Gregory Anders, ” Anders, Anders, Frank Borman, Jim Lovell, ”, Lovell, Borman, Gerald Ford, Bill Nelson, “ Bill Anders, ” Nelson, Valerie, CNN’s Ashley Strickland Organizations: CNN, NASA, San Juan County Sheriff’s, United States Coast Guard, United States Naval Academy, US Air Force, US Naval, Air Defense Command, US Naval Academy, Air Force Weapons Laboratory, Apollo, Time Magazine, National Aeronautics, Space Council, Nuclear Regulatory Commission Locations: Washington, San Juan Islands, San Juan County, Jones, Seattle, Hong Kong, California, Iceland, New Mexico

☆ Tiananmen Square: How journalists smuggled out the iconic ‘Tank Man’ photo
▼ + stars: | 2024-06-03 | by ( Jessie Yeung | Mike Chinoy | ) edition.cnn.com time to read: +9 min

The photo and footage of the so-called “tank man” became the defining image of the Tiananmen Square crackdown whose 35th anniversary passed on Tuesday. People hold candles at a vigil in Hong Kong to mark the Tiananmen Square anniversary on June 4, 2017. Jeff Widener/AP“I’m biking towards the Beijing Hotel and there’s just debris and charred buses on the ground,” he said. It went out.”A student protester before a burning armored personnel carrier that rammed through student lines, injuring many during an attack on pro-democracy demonstrators in Tiananmen Square, Beijing, on June 4, 1989. Several media outlets took a photo of “Tank Man,” but Widener’s shot was the most used.

Persons: Mike Chinoy, ”, Isaac Lawrence, Jeff Widener, Chinoy, Liu Heung, Widener, ‘, Kirk Martsen –, Jonathan Schaer, He’d, “, ” Schaer, “ I’m, ” Jeff Widener's, I’m, ” Liu, Liu, didn’t, ” Widener Organizations: University of Southern, China Institute, CNN, American Journalists, Chinese Communist Party, Getty, Associated Press, AP, of, People, Beijing, Widener, Sony Locations: University of Southern California’s US, Beijing, Asia, China, People’s Republic, Hong Kong, British, AFP, CNN’s Beijing, –, Bangkok, CNN’s, Tiananmen Square, Beijing –

☆ What was it like to cook for Xi Jinping and Emmanuel Macron?
▼ + stars: | 2024-06-01 | by ( Maggie Wong | ) edition.cnn.com time to read: +8 min

The chance to cook for a mystery guestChef Mauro Colagreco, seen here shaking Chinese leader Xi Jinping's hand, was one of three chefs invited to prepare the recent state dinner in France. In addition to the Plaisance restaurant in Hong Kong, his restaurant group now has five establishments in mainland China. Then, on the morning of the state dinner, the Mirazur team arrived to start preparing for the evening alongside the other chefs. Lai Sun DiningAt Colagreco’s Plaisance restaurant in Hong Kong, diners will get to sample all three of the dishes Xi and Macron were served during the recent state dinner. The cost of the three-course option starts from 1,888 Hong Kong dollars ($241), while the six-course menu is 2,888 Hong Kong dollars ($369).

Persons: Xi Jinping, he’s, Xi, Emmanuel Macron, Mauro Colagreco, Xi Jinping's, Laurent Blevennec, Colegreco, Colagreco, “, ”, Fabrice Desvignes, Brigitte Macron, France’s, It’s, Mauro Colagreco's, Peng Liyuan, Pierre Gagnaire, Vin Jaune, verbena pavlova, Nina Métayer, Fromagerie Organizations: Hong Kong CNN, CNN, Michelin, Colagreco's, Colagreco’s, Hong Locations: Hong Kong, bao, Beijing, Europe, Paris, China, France, Plaisance, Menton, Elysee, Argentine, Mirazur, Asia, Shanghai, Cognac, Port, Madeira, Jura, refiner, Colagreco's Plaisance, Colagreco’s Plaisance

☆ 14 pro-democracy activists found guilty of subversion in Hong Kong’s biggest national security case
▼ + stars: | 2024-05-30 | by ( Jennifer Jett | ) www.cnbc.com time to read: +2 min

HONG KONG — A Hong Kong court on Thursday found 14 of 16 pro-democracy activists guilty of conspiring to subvert the state in the Chinese territory's single largest case under a sweeping national security law imposed by Beijing. Of those, 31 pleaded guilty in the hopes of a reduced sentence, while the remaining 16 pleaded not guilty. Hong Kong had had a 100% conviction rate in national security cases, which are prosecuted under rules that diverge from the city's legal norms, including presumption against bail. Almost 300 people have been arrested under the national security law, which came into force in the summer of 2020. The charges stem from an informal primary election held in July 2020 in which more than 600,000 voters selected pro-democracy candidates for a legislative election that was scheduled for that September.

Persons: Lau, Lee Yue, Critics, Eric Yan, Lai, Benny Tai, Claudia Mo, Joshua Wong, Leung Kwok, Raymond Chan, Gwyneth Ho, Hong Kong, Carrie Lam Organizations: Hong, Georgetown Center, Asian Locations: HONG KONG, Hong Kong, Beijing, Hong

☆ Krasota: This fine-dining restaurant is bringing artificial intelligence to the dinner table
▼ + stars: | 2024-05-30 | by ( Rebecca Cairns | ) edition.cnn.com time to read: +10 min

But at Krasota, a fine-dining restaurant in Dubai, nothing is what it seems. This dish, from the recipe to the wall projection to the deep fake video of Bocuse, was designed by artificial intelligence (AI). It’s one of eight courses in “Imaginary Futures,” a multisensory dining experience at Krasota. For its AI scenario, Krasota’s co-founders — digital artist Anton Nenashev, chef Vladimir Mukhin, and entrepreneur Boris Zarkov — ceded control to technology. “Any technology that interferes with the social aspects of dining will not succeed,” such as headsets or goggles, says Spence.

Persons: Paul Bocuse, Bocuse, he’s, —, Anton Nenashev, Vladimir Mukhin, Boris Zarkov —, ”, it’s, Zarkov, Rebecca Cairns, “, Boris Zarkov, Krasota, Heston Blumenthal, Charles Spence, He’s, Spence, Zenon, ” Zarkov, “ Alice Organizations: CNN, Dubai CNN —, CNN Krasota Dubai, University of Oxford, “ Locations: Dubai, Krasota, Moscow, Tokyo, Hong Kong, California, Wonderland

On Today’s Episode:Trump Jurors to Review Evidence as They Consider a Verdict in His Trial, by Jesse McKinleyAlito Refuses Calls for Recusal Over Display of Provocative Flags, by Adam LiptakBiden Asks What Trump Would Have Done if Capitol Rioters Were Black, by Nicholas Nehamas and Maya KingHong Kong Convicts Democracy Activists in Largest National Security Trial, by Tiffany MayThe 47 Pro-Democracy Figures in Hong Kong’s Largest National Security Trial, by K.K. Rebecca Lai, David Pierson and Tiffany MayNew Delhi Sweats Through Its Hottest Recorded Day, by Hari Kumar and Mujib Mashal

Persons: Trump, Jesse McKinley Alito, Adam Liptak Biden, Nicholas Nehamas, King, Tiffany May, K.K, Rebecca Lai, David Pierson, Tiffany, Hari Kumar, Mujib Mashal Organizations: Capitol, King Hong Kong Convicts Democracy, Hong Locations: Delhi

The Hong Kong and Beijing governments have repeatedly denied the national security law is suppressing freedoms, arguing it has ended chaos and “restored stability” to the city. Since the national security law came into effect in 2020, civil groups have disbanded, and independent media outlets have been shut down. They are the first defendants to be acquitted in a national security law trial in Hong Kong. But that strategy is in doubt after another local national security law enacted earlier this year curtailed access to reduced sentences for guilty pleas. “It’s absolutely clear that the national security law reduced the independence and the autonomy of the judiciary.

Persons: Hong Kong’s, Hong, Gwyneth Ho, Leung Kwok, ”, Lawrence Lau, Lee Yu, –, “, Joshua Wong, Benny Tai, Claudia Mo, Eric Lai, John Burns, Hong Kong Organizations: Hong Kong CNN, Beijing, British, Hong, Hong Kong’s Legislative, Georgetown Center, Asian Law, Communist Party, city’s, University of Hong Locations: Hong Kong, Hong, Beijing, Hong Kong’s, China, University of Hong Kong

☆ Hong Kong arrests six for social media posts in first use of new local national security law
▼ + stars: | 2024-05-28 | by ( Nectar Gan | ) edition.cnn.com time to read: +3 min

CNN —Hong Kong police have made their first arrests under a newly passed local national security law over social media posts deemed “seditious” by authorities. “Those who intend to endanger national security should not have the delusion that they can avoid police investigation by going anonymous online,” the statement added. The arrests marked the first time Hong Kong’s own national security law had been invoked since it was unanimously passed by the city’s opposition-free legislature in March. The legislation introduces 39 new national security crimes, adding to an already powerful national security law that was directly imposed by Beijing on Hong Kong in 2020 after huge and sometimes violent pro-democracy protests the year before. The local national security legislation covers a raft of new crimes including treason, espionage, external interference and unlawful handling of state secrets, with the most serious offenses punishable by up to life imprisonment.

Persons: netizens, “, Hong, John Lee, Lee Organizations: CNN, Hong, police Locations: Hong Kong, Beijing, China

☆ Business-First Hong Kong Now Comes With a Catch: Beijing Politics
▼ + stars: | 2024-05-28 | by ( Alexandra Stevenson | ) www.nytimes.com time to read: +1 min

Doing business in Hong Kong increasingly comes with a new risk: the political cost of upsetting Beijing. A former Wall Street banker was muzzled for writing a “Hong Kong is dead” column. In all areas of life, Hong Kong is hewing closer to mainland China, blurring distinctions that once cemented the city’s status as mostly free from the politics of Beijing. Legal rulings echo the courts in mainland China. The city’s transformation is being driven by a national security law imposed by Beijing in 2020 and additional legislation passed by Hong Kong lawmakers in March.

Organizations: Wall Street, Google, Communist Party Locations: Hong Kong, Beijing, Chicago, China, Britain

☆ Crypto.com's Exchange, Sponsorships, and Commercials, Explained
▼ + stars: | 2024-05-28 | by ( Emily Stewart | ) www.businessinsider.com time to read: +12 min

(That's not a knock on the company — for a lot of crypto exchanges, the Empire State is a tough nut to crack.) Crypto.com's primary business is its cryptocurrency exchange, which works as a middleman for people buying and selling crypto, but it also offers other products, including crypto Visa cards. To be sure, the casino thing could be said about most crypto exchanges — and sports-betting apps, and many regular trading apps. It's a good reminder that, whatever the company, it's better to use exchanges only for trading your crypto assets, not for storing them. Or maybe in five years we'll be looking back at this moment and saying: "Remember that one crypto company?

Persons: Eminem, Sam Bankman, Crypto.com doesn't, Jojo Siwa, it's, He'd, Nic Carter, Crypto.com, Kris Marszalek, Foris DAX Asia, It's, Matt Damon, Steven Kalifowitz, Bill Clinton, Tony Blair, FTX, hasn't, Marszalek, wasn't, Alex Gladstein, Emily Stewart Organizations: NBA, Los Angeles Lakers, It's, UFC, NASCAR, Lakers, Castle, Ventures, Staples Center, Miami Heat's, Binance's, Forbes, Financial Times, Securities and Exchange Commission, Bloomberg, PayPal, JPMorgan doesn't, Human Rights Foundation, Business Locations: New York, America, Singapore, Nigeria, Bulgaria, Monaco, Hong Kong, Polish, Los Angeles, Bahamas, Netherlands, Asia, Americas

☆ We live in Hong Kong and are returning to the US to retire. We don't have a credit score and our Social Security is minimal.
▼ + stars: | 2024-05-27 | by ( Peter Maize | ) www.businessinsider.com time to read: +3 min

After 35 years of living and working in Hong Kong, my wife, Wendy, and I are returning home to the US. Setting aside concerns of whether we are jumping from a frying pan into a fire (ongoing crackdown on freedoms in Hong Kong versus political ruptures in the US), we have many other issues to grapple with. We don't have credit scores or credit cardsTake, for example, our credit score: we don't have one. In Hong Kong we have always paid our bills on time and are conscientious consumers. For us, that won't be a significant amount since most of my prime employment years were spent overseas working for Hong Kong companies.

Persons: Wendy, it's, We've Organizations: Service, Social Security, Department of Motor Vehicles Locations: Hong Kong, America, LA, Pacific, United States

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