Chinese commercial banks have begun pricing corporate loans against a short-term interbank repo rate rather than the benchmark loan prime rate (LPR), a shift drawing sharp scrutiny from investors worried about the sector’s already thin profitability. The industry’s average net interest margin – the
Hong Kong drivers will be able to renew their vehicle licences within one day by year-end, down from the current processing time of up to 10 working days, under new artificial intelligence (AI) initiatives aimed at streamlining transport services and traffic management. The “Easy Licence Application
More than 153,000 students and staff from four tertiary institutions in Hong Kong have been affected by a data breach on the online learning management platform Canvas, an investigation by the city’s privacy watchdog has found. Nearly four months after the data breach was discovered, the Office of t
A deadly school attack in the southern Philippines is drawing scrutiny as part of an apparent regional pattern of youth violence that echoes the staging, symbolism and online spectacle of mass shootings overseas. Authorities are investigating whether the incident in Zamboanga, in which a student rep
Mainland Chinese tourist arrivals in Japan fell for an eighth consecutive month in July, as group tours slumped and visa costs rose amid deteriorating ties between Beijing and Tokyo. Mainland China has traditionally been a major source of visitors for Japan, but tourist arrivals plunged 56.1 per cen
Chinese carmakers’ reinforced push to produce more smart vehicles could sustain growth for hi-tech component suppliers, even as the broader automotive market remains lacklustre, according to Hesai Group chief financial officer Andrew Fan. “Orders for our lidar sensors [this year] were higher than in
In a record funding round for China’s satellite internet sector, domestic start-up SpaceSail has raised around 7 billion yuan (US$1 billion) to accelerate the buildout of a low-Earth-orbit (LEO) network designed to compete with Elon Musk’s Starlink project. Known officially as Shanghai Spacecom Sate
Cathay Pacific Airways will launch direct passenger flights between Hong Kong and Almaty, Kazakhstan’s largest city, in January, making it the airline’s first Central Asian destination and establishing the only non-stop service between the two. The three-times-weekly service will begin on January 9
A man has been barred from leaving Hong Kong pending trial over allegations that he failed to properly control his dog, which mauled two smaller pets to death and injured a third. Yuen Long resident Ng Shui-ting, 52, appeared at Tuen Mun Court on Thursday to face two charges brought by the Agricultu
Six months into its war with the United States, Iran’s military has begun signalling a shift from retaliation to offence, which analysts say could reflect Tehran’s belief it holds leverage to advance its demands and break the stalemate. Since US-Israeli strikes launched the war on February 28, Tehra
China sentenced the founder of embattled property giant Evergrande to life in prison and fined the group more than US$2 billion on Thursday for offences including fraud, five years after a high-profile default. Evergrande Group was once the face of Chinese real estate, surfing a decades-long propert
Fewer than 30,000 babies were born over the past year, despite the government’s monetary incentives aimed at encouraging fertility. It marks the first time mid-year births have fallen beneath 30,000. According to figures released by the Census and Statistics Department on Tuesday, a total of 2
Hong Kong customs officers have arrested two staff members from local branches of the skincare chain Opatra London over alleged coercive sales tactics. The Customs and Excise Department said in a media briefing on Wednesday that they arrested a 25-year-old woman, Opatra London Hong Kong’s admi
Hong Kong conglomerate CK Hutchison said on Thursday it has filed international arbitration proceedings against Panama over its cancellation of a concession to operate two ports in the Panama Canal. The dispute stems from a Panama supreme court ruling in January that struck down the contract that le
An animal rights NGO is offering a HK$50,000 reward for anyone with information that could assist police in a case involving suspected hamster abuse. In a social media post on Wednesday, PETA Asia said the discovery of two hamsters next to a rubbish bin in Sham Shui Po with severe injuries to their
Hong Kong’s stock exchange reported record profits on Wednesday, thanks to a surge in demand for initial public offerings by tech and artificial intelligence companies, the bourse operator said on Wednesday. The results come as Hong Kong’s IPO market saw a surge in listings from the arti
A 48-year-old man has been sentenced to 22 years in jail after he repeatedly raped his daughter over a period of 10 years, starting when the victim was only 14. Recorder of the Court of First Instance of the High Court Eric Kwok jailed the man, identified as Y.S., on Tuesday, The Witness reported. K
A Hong Kong court has dismissed a father’s “inappropriate” application for a writ of habeas corpus for his infant son Danny, who was born unassisted at home and has been kept in government custody. When granted, a writ of habeas corpus – meaning “to have the body” – would for
The owner of a large dog suspected of mauling two smaller dogs to death in Yuen Long has been arrested. The Agriculture, Fisheries and Conservation Department (AFCD) said in a statement on Tuesday night that it had arrested the owner of the dog earlier that day and collected a statement regarding th
A Hong Kong court has ordered the now-defunct pro-democracy newspaper Apple Daily to pay HK$1.5 million in damages to a couple that sued the outlet for defamation over articles published in 2019. The defamation suit was lodged by listed company China Innovation Investment Limited, its chairperson Xi