Milan Fashion Week’s Best Looks

The top moments from the Italian brands.

Fendi, Gucci, Prada: so many vowels, so many good looks to choose from. BAZAAR does the hard work for you, distilling the shows down to their essence with several standout looks from each of the major collections. See what's happening on the runways of Milan this week.

Gucci

Gucci


Alessandro Michele is full of surprises. The designer has reconfigured the Gucci show calendar so it falls off the regular lineup—with the Aria collection showing last April, and the brand's latest, Love Parade, walking last night in Los Angeles. While there are certainly logistical reasons for the changes, from an editorial perspective, it allows a label to really make a splash. And splash Gucci did.

The surprise we're referring to isn't a simple shift in timing, it's a peek into the creative mind of Michele and the life and times that built him. "Mum worked in the film industry as an assistant in a production company. I remember all the stories she told me, and the details and the sparkles, about that dream factory," he explains in the show notes.

"There was the alabaster paleness of Marilyn Monroe...There were the black satin gloves of Rita Hayworth and Veronica Lake’s velvet hair, as well as the bewitching allure of Rock Hudson and Kim Novak’s dizzying transformative power." That move star mystique translated directly onto the Hollywood Walk of Fame, where models, Jared Leto, and Macaulay Culkin stomped under street lights in front of a star-stacked audience. A modern fascination with social media and paparazzi photos has brought the idea of celebrity back down to earth, but Michele is more interested in the concept of actor as deity.

"Hollywood is, after all, a Greek temple populated by pagan divinities... Here actors and actresses are acknowledged as heroes of the myth: hybrid creatures with the power to hold divine transcendence and mortal existence at the same time." A place where stars shine on red carpets and we never see them as mere mortals getting Starbucks. A place where there are no sweatpants and yoga leggings, just diaphanous gowns, pink satin tuxes, sequins that can burn your retinas, and coats as big as egos. Welcome to Hollywood by way of Gucci.

Gucci

Gucci

Gucci

Gucci


Bottega Veneta

Bottega Veneta


For round three of Bottega Veneta's salon shows, following stops in London and Berlin, Daniel Lee showed up in the Motor City to showcase his latest—and many notable names followed him there. Mary J Blige, Lil Kim, Burna Boy, Kehlani, Selah Marley, Zazie Beetz, Slick Woods, and Sasha Lane were just some of the major players in attendance.

Set to techno club music at the Michigan Building (a gilded former theatre), the runway was also star-studded, with Lourdes Leon (offspring of one Madonna) casually taking a stroll down the catwalk. The palette was mostly black and white with hits of orange and Bottega green (a color so synonymous with Lee's Bottega it is now being referenced this way).

The look is street sporty—think parkas and denim sets—against 90s influenced halter necks and sparkly little dresses and shirt and skirt sets. Bodycon, a look that was pervasive all season, also showed up on this runway on one shoulder and short dresses. In other words, these are 'fits that are made to dance the night away to some techno beats.

If you find yourself in Detroit, Bottega's reign isn't ending with one runway show. The brand set up Bottega Firehouse on 1201 Bagley Street. It will be open until January and features a reading room by Asmaa Walton, design works by Chris Schanck and Aratani Fay, Underground Music Academy, Substudio textiles, Donut Shop furnishings, Hamtramck Ceramck ceramics, relief sculptures by Sophie Eisner and printed matter curated by Ruben Cardenas.

Bottega Veneta

Bottega Veneta

Bottega Veneta

Bottega Veneta


Versace by Fendi

Versace by Fendi


Stop everything: We are officially living in a parallel fashion universe. Donatella Versace, Kim Jones, and Silvia Venturini Fendi switched places for an epic fashion event that was something far fresher than the industry’s collaborations of yore. Fendace, a 50-look Frankenstein collection composed of Jones’s and Venturini Fendi’s riff on Versace and Versace’s take on Fendi, was conceived as a “celebration of Italian fashion and a to-hell-with-it disruption of the established order of things.” This merging of competitors, particularly two iconic houses not under the same ownership, just “isn’t done” in fashion—until now.

Fendi, Versace, and Jones are friends and colleagues, and after a tough year, they crossed party lines to have a little fun. The creative directors invited one another into their family archives for inspiration and crafted their take on the other’s DNA, honoring the work of Gianni Versace and Karl Lagerfeld in turn. Versace for Fendi melded the Fendi double-F monogram with its own Grecian key motif, while Fendi for Versace used the brand’s signature safety pins and sexiness with more of a punk rock edge. The event of Milan Fashion Week was, refreshingly, about fashion for style’s sake: “It’s about the need for sincerity in fashion today rather than strategy.”

Versace by Fendi

Versace by Fendi

Versace by Fendi

Versace by Fendi

Versace by Fendi


Versace

Versace


Versace is all about new interpretations of signature codes, whether it be the new Grecian key motif, La Greca—launched last season—or the brand’s signature Medusa emblem. For spring 2022, Versace began with its foulard, a silk scarf that can be worn as a headscarf, knotted into a top, constructed into a bustier dress, or worn freely as a pajama-esque set. How, you may wonder, does a simple silk scarf lead you to Dua Lipa, Emrata, Lourdes Leon, a neon color palette, and some of the sexiest looks of the season?

That would be the magic of Donatella Versace. From Dua Lipa’s opening look of a slashed, tailored suit-cum-party dress to the prints, bold fluorescent shades, and all the way to the pop star’s hot-pink, two-piece sequined set for the finale, Versace’s vision for spring 2022 was part red carpet, part Internet sensation, and a great night out in Miami and Milan—all in one.

Versace

Versace

Versace

Versace

Versace


Dolce & Gabbana

Dolce & Gabbana


After a year of laying low, fashion lovers are finally turning their attention to post-lockdown glam—which couldn’t be better news for maximalists Domenico Dolce and Stefano Gabbana. The duo has never stopped being inspired by a more-is-more aesthetic. This collection was packed with the brand’s sexy energy, cheeky touches, and signature whimsy, but it was also decidedly more edgy and youthful than ever before—keeping Gen Z in mind. The designers dove into the past to look forward, studying their collections from the year 2000, when Y2K mania ushered in all things over-the-top.

The result? Lace, camo, leopard prints, and crystal covered everything. After a spectacle after the Venice Film Festival for Alta Moda and a collaboration with Harris Reed and Iman on the Met Gala red carpet, Dolce & Gabbana just proved once more that they have no issue keeping their clothes focused on the future—targeting a younger customer than ever before while still giving their hardcore fanbase what they crave.

Dolce & Gabbana

Dolce & Gabbana

Dolce & Gabbana

Dolce & Gabbana


Emilio Pucci

Emilio Pucci


Many people can spot a Pucci print from across the room—or the beach. That’s what the design team was musing on when they went back to the resort-forward way of thinking exemplified by founder Emilio Pucci for spring 2022. The spirit of kaleidoscopic beachwear goes hand in hand with a certain sort of bold freedom, especially when those signature swirls come embroidered. Also on the label’s mind? The iconic shape of the silk scarf, which has become synonymous with Pucci for decades.

We saw its core shape reappear in the form of halter-neck cutout dresses and maxi gowns constructed of wide swaths of flowing fabric. The difference between the Pucci of your mother’s closet and today, however, is a newly sharpened and structured impact that’s graphically intriguing. Patterned minidresses may seem like they’re for maximalists only, but when they’re cut so cleanly, they have a wide appeal even for the print-averse minimalist.

Emilio Pucci

Emilio Pucci

Emilio Pucci

Emilio Pucci


Salvatore Ferragamo

Salvatore Ferragamo


Salvatore Ferragamo offered for spring 2022 what the Florentine label called an “Italianate rainbow,” which translated to soothing shades of ochre, rust, mustard, cream, and peony, rather than the traditional ROYGBIV spectrum the founder once famously put on a pair of suede platforms he designed for Judy Garland.

The excitement came through unexpected details and styling, like a dramatic asymmetrical side cutout on a Grecian dress or a double-breasted blazer tucked into high waisted shorts. A repurposed 1970s Ferragamo floral foulard overprinted on a loose-yarn, tiger-striped jacquard created in collaboration with Parisian artist Julien Colombier was another key motif.

Salvatore Ferragamo

Salvatore Ferragamo

Salvatore Ferragamo

Salvatore Ferragamo


Tod's

Tod's


Quality, utilitarianism, and craftsmanship all come to mind immediately when thinking of Tod’s—so bold uses of color, platform loafers, and crop tops are a fresh take. The spring 2022 collection wasn’t short on luxe, wearable pieces, but the lightness evoked by the bright, new elements was intended to recall the world of sports and suggest an airiness intended to help us all forget the troubles of the past year and look toward a brighter future.

As for the accessories, sandals and sneakers were meant for pounding the pavement, although they had a chunkier, cool-kid energy. Boots and loafers came with a heftier, higher platform and sat in contrast to daintier kitten heels and the label’s signature asset: super-luxe handbags.

Tod's

Tod's

Tod's

Tod's


MM6 Maison Margiela

MM6 Maison Margiela


You know that saying, "He's playing chess, and they're playing checkers?" The latest collection from MM6 Maison Margiela kind of did both. On the surface, a checkerboard motif took literal riffs on pizzeria tablecloths, The Queen's Gambit, and the commedia dell'arte costumes of the Italian Renaissance.

But look a few moves ahead, and the slouchy slacks, layered suiting, and high-contrast color pops weren't just here for a good time—they will remain in your wardrobe for the long haul. As for the kooky spiderweb worn as a tank top? I mean ... we're knot mad about it.

MM6 Maison Margiela

MM6 Maison Margiela

MM6 Maison Margiela

MM6 Maison Margiela

MM6 Maison Margiela


Missoni

Missoni


Well, that's new! Missoni's latest show marks Alberto Caliri's design debut, and a true change of the guard. Gone are the stretchy zig-zag clings with long sleeves and maxi hems that covered everything except the wearer's excellent taste. Now that same iconic fabric has been slashed and stretched into bodycon cut-outs, neo-Britney triangle tops, and a real reverence for underboob. Some fashion shakers wondered, for a female-power-and-ease brand like Missoni, what's bare flesh got to do with it? Others (including our own Nikki Ogunnaike) loved the vixen vibes, and the idea that TikTok teens can covet the same textiles as their '70s idols. (The DIY potential here is also off the charts, especially for all that Missoni x Target lurking on Depop just begging to be slashed and re-sewn.) Meanwhile, purists can skip ahead to the final looks: metallic maxi gowns for everyone.

Missoni

Missoni

Missoni

Missoni


Giorgio Armani

Giorgio Armani


Seafoam green, oceanic blue, and calming shades of cloudy white: These are just a few of the hues Giorgio Armani delved into for the spring 2022 show. As a fixture of the Italian fashion world for decades, the label has become known for its singular shapes and streamlined aesthetic. Set against the backdrop of an endless ocean with a runway that mimicked the color of a sandy beach, the label showed all the signatures of its household codes, from oversized suiting to immaculately tailored, embellished gowns in frothy fabrics that seemed to float down the catwalk. Armani’s most surprising takeaway this season? Harem pants are back. But this time around, they come in delicious silk and chiffon fabrications, with dreamlike prints in jewel tones.

Giorgio Armani

Giorgio Armani

Giorgio Armani

Giorgio Armani


Philosophy di Lorenzo Serafini

Philosophy di Lorenzo Serafini


We can always count on Philosophy for a few things each season: an unbridled dedication to romanticism, a heavy dose of femininity, and an unwavering and unexpected punch of prep. For spring 2022, creative director Lorenzo Serafini took us on a trip to the '70s, as he envisioned it.

Models wore plush leather fringed jackets in shades of periwinkle and cognac, alongside flared floral sets, lamé button-down dresses, and easy deep-neck tops with simple bikinis peeking out. Vibrant hues like carnelian, emerald, and royal purple were a nod to the loud and individualistic style of the '70s, but for the dedicated Philosophy fan, there was no shortage of ruffled dresses, romantic frills and all, in subtle shades of lacy white. —Kristen Bateman

Philosophy di Lorenzo Serafini

Philosophy di Lorenzo Serafini

Philosophy di Lorenzo Serafini

Philosophy di Lorenzo Serafini


Prada

Prada


Leave to Prada to make sex intellectual. Miuccia Prada and Raf Simons’s spring 2022 collection may be titled Seduction, Stripped Down, but there were none of the bra tops and naked dresses seen on other runways in this show simulcast from Milan and Shanghai. In the Prada-verse, the heels are always kitten height, and sex appeal is all about suggestion.

The co-creative directors reduced tropes of classical femininity like lingerie and corsetry to their purest forms and re-contextualized them. So the curve of an underwire was applied to a polo-collar sweater, while graphic tees and jackets came embellished with corset laces. Many of the aforementioned looks trailed anomalous strips of couture silk, which the show notes poetically called “the memory of a train.”

Prada

Prada

Prada

Prada


Sportmax

Sportmax


For every instance of cottagecore romance spotted on the Sportmax runway, there was a dose of unapologetic, here-to-take-up-space attitude for counterbalance. Corsetry, scooped-out necklines, raw-edged tulle, and dainty florals were the stuff of sublime sweetness—and best taken in small doses.

The presence of that tougher stuff added interest and intrigue, making one wonder what the woman behind the clothes is all about. Wide-leg trousers and oversized jackets were ready to work, but in a slouchy way that didn't impersonate menswear. Rather, it was sensual and soft, clearly for her and not stolen from the boys.

Sportmax

Sportmax

Sportmax

Sportmax


Blumarine

Blumarine


The Y2K style renaissance was out in full force for Blumarine’s spring 2022 collection. Butterfly motifs emerged on necklaces, supersize belts, and tie-on tops, while a symphony of pastels took the form of gossamer-thin V-cut gowns in buttercup yellow and bubblegum-pink halter-neck dresses printed with roses. Nicola Brognano’s creations looked a lot like something the pop stars of the early '00s would easily gravitate to—Britney and J.Lo included—but we think Gen Z would be equally enchanted by a pair of chiffon low-waist cargo pants and a baby crop top.

You only have to scroll through TikTok to see that. With the transparent oversized glasses, silk head scarves, big hoop earrings, and low-slung belts against patchwork denim and shrunken bomber jackets, there was proof, too, that styling has a lot to do with Blumarine’s early-aughts aesthetic. Lotta Volkova, the stylist behind Vetements' fast rise, was behind it. Slap on one of the brand’s bedazzled logo belts and consider it a celebration of more is more.

Blumarine

Blumarine

Blumarine

Blumarine

Max Mara

Max Mara

We didn’t quite get a “revenge summer” of carefree travel to far-flung holiday destinations thanks to Delta, and what next summer will look like is anyone’s guess at this point.

But Max Mara made a very chic case for escape being a state of mind. The brand took cues from author Françoise Sagan’s uniform of workwear classics like fisherman smocks, laborers jackets, mechanics overalls, and carpenter pants, which were given the runway treatment in gabardine, canvas, poplin, and indigo denim with contrast top stitching.

You may recall her novel Bonjour Tristesse from college French, but did you know that Sagan wrote the existentialist masterpiece as a 17-year-old forced to spend the summer of 1953 at home in Paris while her family went away on holiday, after failing her year-end exams? Time to start preparing our writer’s wardrobe for summer 2022.

Max Mara

Max Mara

Max Mara


Etro

Etro


Say “magic carpet ride” and you either get Disney’s Aladdin (1992) or Steppenwolf’s hit song (1968). Both applied to Etro’s newest collection, which sewed its signature textile mix onto hippie-approved rainbow crochet and rave-worthy vinyl jackets alike. Veronica Etro did some denim-and-track pant fusions, too, which will hopefully inspire DIY fashion fans worldwide to remix their old clothes instead of chucking them entirely.

A whole new world? Not exactly. Etro stuck pretty close to its DNA. And with both runway newbies and megastars like Joan Smalls on the catwalk, the brand made the case that boho chic isn’t going anywhere, and that it’s just as appropriate on a new mom (we see you, Grace Elizabeth!) as a teen starlet whose wish is every fashion brand’s command.

Etro

Etro

Etro

Etro


Jil Sander

Jil Sander


Lucie and Luke Meier are designing clothing that women want to wear—intellectual women, chic women, choose your elevated adjective. The palette for spring 2022 was soft, as if filtered: pale greens, peach, buttercup yellow, ivory. There were strong jackets layered over trousers or jeans, oversized pieces, nipped and tailored pieces, a perfect sweetheart-neckline white dress, knitted separates, and a crochet series.

Blouses were wrapped and textural—nothing was as expected. To wit, there was even a zebra print and some sequins. In accessories, the brand’s new Cannolo bag was cylindrical, mirroring jewelry that leveraged circles in gold and geometric patterns. Mule boots will be a winner this season; they look cool and are easy to wear. The message was this: What appears simple probably isn't. Still waters run deep, as they say.

Jil Sander

Jil Sander

Jil Sander

Jil Sander


Roberto Cavalli

Roberto Cavalli


Today was a big one for the Roberto Cavalli label—it marked the first runway collection under the creative direction of Fausto Puglisi. Puglisi is a dream fit for the brand—an Italian designer who embraces sensuality in clothing and clearly appreciates an animal print.

He dug into the extensive Cavalli archives and came up with many references to the ’70s—dresses were slim and cut on the bias, with cutouts and single shoulders. All ripe for after dark. If the Cavalli girl needs a break from the dance floor, boxy suits looked just as cool. As the show notes said, the collection, “shouts ‘I’m the party.’” There's never been a better time to bring back some fun and remember you had it in you all the time.

Roberto Cavalli

Roberto Cavalli

Roberto Cavalli

Roberto Cavalli


Brunello Cucinelli

Brunello Cucinelli


For many women, the current vibe is “love thy loungewear as thyself.” Brunello Cucinelli is cool with that—but he’s going to give you a major upgrade. The Italian label went into full slouch mode with its latest collection, which mixes slinky metallic knitwear and silky pleated separates that feel like pj's, but look like you’ve consulted a famous Italian tailor. (Maybe because one made these clothes ...) And though some models did wear sweatbands and tube socks as part of their looks, these pieces are made to be so easily cool, you can get dressed for work without breaking a sweat. Pay special attention to the suiting and square-toed ballet flats, along with a red embroidered varsity sweater that’s truly game for anything.

Brunello Cucinelli

Brunello Cucinelli

Brunello Cucinelli

Brunello Cucinelli


Fendi

Fendi


Kim Jones had nearly zero ramp-up to creating his own Fendi ethos. His Fendi woman has been unabashedly glamorous and achingly cool since he debuted his first collection in the depths of the pandemic. While she has an appreciation for the past, she most certainly doesn’t live there. That throwback mentality showed up for spring 2022 with a collaboration with the estate of illustrators Antonio Lopez and Juan Ramos.

The ’70s have been enjoying a bit of a renaissance, so Studio 54-worthy dresses that leveraged Lopez's iconic drawings felt right on time. “While I’ve been looking at Karl’s legacy at the house, I’ve also been looking around him, at his contemporaries—at who he was interested in,” Jones explained. “Lopez was a friend of Karl’s and has always been someone who inspired me. He was forward thinking, inclusive, looked up to by everyone from Andy Warhol to Steven Meisel and David Hockney.

I wanted to introduce him to a new generation.” In keeping with the era (through a modern lens), there were also fringe dresses, suiting with bikini-inspired tops layered underneath, bold-patterned furs with matching bags, and sheer black lace gowns. It was smart dressing that made a statement—and it was the perfect start to a week in Milano.

Fendi

Fendi

Fendi

Fendi



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The mega-rich are giving up on luxury assets. Forget fine wine, great art and glitzy mansions

The growth in ultra-luxury services



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The latest stories from the AI revolution



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Ford announced it would discontinue multiple electric-vehicle models and absorb a $19.5 billion write-down due to slumping demand and the Trump administration's rollback of EV incentives in the US



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Music played in a wedding hall in western Japan as Yurina Noguchi, wearing a white gown and tiara, dabbed away her tears, taking in the words of her husband-to-be: an AI-generated persona gazing out from a smartphone screen


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Xi Jinping Praises Hong Kong and Macao Progress, Reinforces ‘One Country, Two Systems’ Vision

Chinese President underscores the achievements and future direction for Hong Kong and Macao at key national events and in high-level meetings
Chinese President Xi Jinping has publicly acknowledged the progress achieved in both Hong Kong and Macao, reiterating Beijing’s support for the sustained prosperity and stability of the two special administrative regions under the framework of “one country, two systems.” Xi’s comments, made in speeches and high-level engagements, reflect the central government’s ongoing commitment to strengthening institutional and economic foundations in the regions.

In remarks linked to the celebrations of Macao’s twenty-fifth anniversary of return to Chinese sovereignty and other official occasions, Xi highlighted the “remarkable achievements” Macao has made in social and economic development since the restoration of Chinese sovereignty.

He emphasised that the “one country, two systems” approach has demonstrated its “distinctive institutional advantages and enduring vitality” in ensuring long-term stability, national security and development.

Xi stressed the importance of deepening integration of Macao — and, by extension, Hong Kong — into broader national strategies, particularly in regional development, economic diversification, and international connectivity.

Senior officials have explained that Xi’s vision articulates both the progress recorded over the past decades and clear guidance for the future.

Hong Kong’s Chief Executive, in response to Xi’s speech, noted that it “provides a crystal-clear direction for future development” of both Hong Kong and Macao, encouraging policymakers and business leaders to further capitalise on opportunities in technology, finance and global engagement.

Observers see the reaffirmation of “one country, two systems” as a message of continued support for the regions’ legal and economic systems, along with an emphasis on national security as integral to prosperity.

Xi’s remarks have been interpreted as encouraging both territories to deepen their roles as international centres for finance, trade and cultural exchange, while integrating more closely with mainland China’s development goals.

The remarks also come amid broader efforts by Beijing to strengthen institutional cooperation and economic linkage within the Greater Bay Area, a key national priority.

This strategic emphasis reinforces Beijing’s long-standing expectation that Hong Kong and Macao will act as bridges between China and global capital, trade and innovation networks.
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UOB Faces Headwinds from Hong Kong and China Property Loan Stress as Real Estate Prices Fall

Singapore’s United Overseas Bank sets aside large provisions and trims Greater China exposure amid a prolonged property downturn
United Overseas Bank Ltd., one of Singapore’s largest lenders, is contending with mounting strains from its property loan book in Hong Kong and mainland China as real estate prices in those markets continue to weaken.

A significant portion of the bank’s lending in the region is tied to commercial and residential property, and the sustained downturn has eroded collateral values and heightened credit risk.

In early November, UOB surprised investors by booking S$615 million in general provisions for commercial real estate loans that may deteriorate further, bringing its total allowance for credit losses to S$1.9 billion in the first nine months of 2025. The decision reflected what the bank described as “sector-specific headwinds” in Greater China and other markets, and while it ensured the bank’s dividend and share buyback plans remain unaffected, market watchers have focused on the elevated reserves as a sign of stress.

Shares of UOB have underperformed its Singapore peers, with a decline of about four percent this year compared with double-digit gains at rival banks.

UOB’s Hong Kong subsidiary has a high concentration of property loans, with more than forty percent of its gross loans and advances linked to property development and investment as of mid-2025. That exposure includes loans to luxury developments and Chinese property groups that have struggled to refinance as prices retreat.

The multiyear downturn in Hong Kong’s commercial real estate sector, with office values falling sharply from previous peaks, has dampened collateral valuations and contributed to higher non-performing loans in the region.

The bank has responded by paring back some Greater China exposure, renegotiating maturities on troubled loans, and engaging with regulators about its credit mix.

In some cases, UOB has extended loan terms rather than press for immediate repayment, seeking to provide breathing space for borrowers in a sluggish market.

Discussions with private credit investors have also been reported as part of efforts to manage large facilities tied to developments such as the Beacon Peak project in Hong Kong’s Kowloon Tong district.

Despite the challenges, UOB has maintained that its proactive provisioning and risk management bolster its resilience through economic cycles.

The bank continues to emphasise its long-term client relationships and prudent underwriting standards as it navigates an uneven recovery in Greater China.

The unfolding situation underscores the broader pressures on lenders with concentrated exposure to property markets that have not yet rebounded from post-pandemic softness and structural headwinds.
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China’s Biren Technology Moves Forward with Hong Kong IPO Plan After Regulatory Nod

AI chipmaker aims to raise around three hundred million dollars as it seeks international financing amid China’s semiconductor push
Biren Technology, a fast-growing Chinese artificial intelligence chip developer, is preparing to launch an initial public offering in Hong Kong after winning necessary regulatory approvals, marking a significant step in the company’s international expansion and reflecting Beijing’s broader strategy to bolster domestic semiconductor capabilities.

The Shanghai-based firm, founded in 2019 by seasoned industry executives, is targeting a Hong Kong listing in the coming weeks and is expected to raise around three hundred million dollars through the share sale, according to people familiar with the matter.

The planned offering could involve up to 372.5 million new shares, with existing shareholders converting hundreds of millions of onshore shares into Hong Kong-listed stock as part of the transaction, reinforcing investor interest and broadening Biren’s capital base.

The company gained prominence in the AI sector after unveiling its high-performance BR100 GPU, designed to rival leading global processors, and has attracted substantial funding from both private and state-linked investors despite being placed on the U.S. Entity List in 2023, which restricted access to some international manufacturing partners.

Biren’s push towards a Hong Kong IPO highlights Beijing’s determination to foster homegrown alternatives to foreign semiconductor technology amid tightening export controls by Western authorities.

The move builds on a successful fundraising campaign earlier this year in which Biren secured around 1.5 billion yuan in fresh capital from state-linked funds, underscoring confidence in its growth prospects and strategic importance.

Biren’s listing could come as early as January, following years of development and investment in its AI hardware roadmap.

The company’s IPO will be led by major financial advisers and is expected to draw attention from both domestic and international investors seeking exposure to China’s AI infrastructure sector.

Analysts note that Hong Kong’s capital markets have become an increasingly attractive venue for Chinese tech firms looking to access global capital, particularly as regulatory conditions evolve at home.

Biren’s forthcoming listing is set against a backdrop of robust demand for advanced computing chips and increased competition among chipmakers worldwide.
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Jimmy Lai Found Guilty in Landmark Hong Kong National Security Case

Conviction of prominent media founder underscores the city’s intensified enforcement of national security legislation
Hong Kong has convicted pro-democracy activist and media entrepreneur Jimmy Lai in a closely watched national security case, marking a significant moment in the city’s ongoing legal and political transformation.

The ruling follows a lengthy trial centered on charges linked to national security laws enacted in recent years.

Lai, the founder of the now-defunct Apple Daily newspaper, had pleaded not guilty to the accusations.

Prosecutors argued that his actions and publications posed risks to national security, while the defense maintained that his activities fell within the bounds of journalism and political expression.

The court ultimately sided with the prosecution, delivering a guilty verdict that carries potentially severe penalties.

The case has drawn sustained international attention because of Lai’s global profile and the broader implications for press freedom, civil society, and political dissent in Hong Kong.

Local authorities have consistently stated that the proceedings were conducted in accordance with the law and that national security cases are handled independently by the judiciary.

Sentencing has been scheduled for a later date.

The conviction is expected to reinforce the government’s determination to uphold national security legislation, even as it continues to prompt debate abroad over Hong Kong’s legal environment and future trajectory.
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Hong Kong Jobless Rate Steadies as Labor Market Shows Signs of Stabilization

Unemployment holds at three point eight percent in the September to November period, reflecting cautious resilience amid uneven economic recovery
Hong Kong’s unemployment rate remained unchanged at three point eight percent in the September to November period, signaling a degree of stability in the labor market despite ongoing economic headwinds.

The latest figures indicate that overall employment conditions have stopped deteriorating after earlier volatility, offering cautious reassurance to households and businesses.

Authorities noted that total employment showed only marginal movement during the three-month window, with some sectors continuing to face pressure while others recorded modest improvement.

Tourism, logistics, and consumer-facing industries benefited from a gradual normalization of activity, while construction and certain professional services experienced slower momentum.

Officials emphasized that while the steady rate points to resilience, the labor market has not fully recovered to pre-pandemic strength.

External demand uncertainties, higher global interest rates, and subdued investment sentiment continue to weigh on hiring decisions.

At the same time, targeted government measures and improving regional connectivity have helped prevent a renewed rise in joblessness.

Looking ahead, policymakers said employment trends will depend on the pace of global economic recovery and sustained local growth initiatives.

The government reaffirmed its commitment to supporting businesses, upskilling workers, and enhancing competitiveness to ensure that labor market conditions remain stable in the months ahead.
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War on the Thailand–Cambodia Front

Cambodia started this war for one reason: Thailand joined the global crackdown on the industrial-scale phone and online scam operations run out of Cambodia.


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Hong Kong Regulator Flags Fraud Risk and Market Volatility Amid Stablecoin Licensing Surge

The Securities and Futures Commission urges investor caution as new stablecoin rules spur speculative trading and fraud concerns
Hong Kong’s financial watchdog has issued a stark warning about rising fraud risks and market volatility linked to the territory’s newly implemented stablecoin regulatory regime, underscoring the challenges of fostering digital asset growth while protecting investors.

The Securities and Futures Commission, in conjunction with the Hong Kong Monetary Authority, noted abrupt market movements in companies associated with stablecoin licensing interest, which often followed media reports, social-media speculation or corporate announcements about potential stablecoin issuer licences.

Regulators emphasised that early discussions or plans to apply for a licence are not endorsements nor guarantees of approval, stressing that only entities meeting stringent regulatory criteria will ultimately be licensed under the framework that came into force on August first this year.

Officials voiced concern that some listed companies have seen sharp share price swings — including speculative upticks — merely by asserting stablecoin ambitions, a trend that could mislead less experienced investors amid heightened hype.

The SFC has reported a notable volume of digital asset-related fraud complaints this year, and has vowed to closely monitor trading activity, deploy advanced surveillance tools and take decisive action against manipulative or deceptive practices that could compromise market integrity.

As Hong Kong positions itself as an Asia-focused hub for regulated stablecoin issuance, regulators have amplified their call for well-informed investment decisions and continued vigilance as the sector evolves.
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Hong Kong Welcomes Global Digital Leaders as SIGGRAPH Asia 2025 Opens

Major international conference highlights the city’s role as a hub for computer graphics, animation, and emerging digital technologies
Hong Kong has opened its doors to thousands of technology leaders, researchers, artists, and innovators as SIGGRAPH Asia twenty twenty-five officially gets under way, reinforcing the city’s position as a global meeting point for advanced digital creativity and research.

The conference brings together experts in computer graphics, animation, visual effects, immersive media, artificial intelligence, and interactive technologies from across Asia, Europe, and North America.

The event features a broad programme of technical papers, keynote presentations, exhibitions, and industry showcases, offering a platform for both established companies and emerging startups to present breakthroughs in digital production and visual computing.

Organisers say the choice of Hong Kong reflects its deep pool of technical talent, world-class infrastructure, and growing influence in the digital economy.

Alongside the technical programme, the conference is expected to generate significant business and academic exchange, with universities, research institutes, and creative studios using the gathering to form new partnerships.

The influx of international delegates also provides a boost to the local tourism, hospitality, and events sectors.

Officials and industry participants have highlighted SIGGRAPH Asia twenty twenty-five as a signal of Hong Kong’s continued openness to global collaboration and innovation, underlining its ambition to remain at the forefront of digital technology, creative industries, and cross-border knowledge exchange in the years ahead.
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China’s Sieyuan Electric Plans Hong Kong Listing After Massive Share Price Rally

Power‐equipment manufacturer moves to expand investor base after its stock’s dramatic gains on the Shenzhen exchange
Sieyuan Electric Co., Ltd., a leading Chinese manufacturer of power transmission and distribution equipment, has announced plans to pursue a listing on the Hong Kong Stock Exchange following a substantial rally in its domestic share price that has captivated investors.

The company’s stock, traded on the Shenzhen Stock Exchange under ticker 002028, has seen exceptional performance this year, contributing to heightened interest in broadening its capital markets footprint.

The Hong Kong listing initiative reflects Sieyuan’s strategic efforts to tap a wider pool of international investors and deepen its access to global capital.

Sieyuan supplies critical high-voltage equipment and electrical infrastructure components to major grid operators and industrial customers in China and abroad, and its strong operational results—characterised by accelerated revenue and profit growth in recent reporting periods—have underpinned investor confidence.

The move toward a Hong Kong listing comes as the firm looks to support future growth ambitions in both domestic and overseas markets, expand its shareholder base, and enhance its profile among global asset managers.

Market participants are closely watching regulatory approvals and potential timing for the primary listing, which could mark a significant milestone in the company’s expansion trajectory.
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Hong Kong Customs Uncover Cocaine Hidden in Ship’s Sea Chest Using Underwater Technology

Authorities say an underwater inspection led to the discovery of concealed narcotics during a targeted maritime operation
Hong Kong Customs has reported the seizure of a significant quantity of suspected cocaine concealed within the sea chest of a commercial vessel, following a targeted maritime inspection that employed underwater search technology.

The operation forms part of intensified enforcement efforts to counter increasingly sophisticated drug-smuggling methods using ocean-going ships.

According to officials, customs officers identified the vessel as high risk through intelligence analysis and monitoring of maritime cargo movements.

During the inspection, specialists conducted an underwater examination of the hull area, leading to the discovery of concealed packages hidden inside the sea chest, a compartment that draws seawater for cooling systems and is difficult to access through conventional searches.

The suspected cocaine was recovered and secured as evidence, with laboratory testing under way to confirm its composition and weight.

Authorities said the concealment method reflected a growing trend among transnational drug syndicates to exploit hard-to-reach parts of vessels in an effort to evade detection.

Hong Kong Customs emphasized that the operation demonstrated the effectiveness of advanced inspection capabilities and interdepartmental coordination in safeguarding the city’s borders.

Investigations into the origin of the drugs, the vessel’s route, and potential suspects are ongoing, and further arrests have not been ruled out.
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Jimmy Lai’s Conviction Caps Years-Long Legal Battle Under Hong Kong’s National Security Law

Pro-democracy media tycoon found guilty after a protracted trial that began in 2023, reflecting broader shifts in the city’s legal and political environment
After more than five years in custody and nearly two years in court, Hong Kong media tycoon and pro-democracy advocate Jimmy Lai has been convicted of conspiracy to collude with foreign forces and conspiracy to publish seditious material under the national security law imposed by Beijing in 2020. The verdict, delivered on December 15 in the city’s High Court, follows a lengthy legal saga that has drawn intense local and international attention and underscores the profound impact of the security legislation on dissent and press freedom in Hong Kong.

Lai, 78, the founder of the now-defunct Apple Daily newspaper, was arrested in August 2020 shortly after the security law’s enactment, as authorities ramped up enforcement following mass pro-democracy protests in 2019. He faced charges of collusion with foreign forces for allegedly seeking support for sanctions and opposition activity abroad, and of publishing seditious content through his media outlet.

Prosecutors argued that his activities endangered national security, while Lai maintained his innocence, asserting that his work was rooted in journalism and advocacy for democratic reform.

The trial — one of the most high-profile under the national security framework — began in late 2023 and involved more than 150 days of proceedings, including Lai’s testimony and detailed examination of his interactions with overseas figures and publications.

Supporters and rights groups have characterised the case as emblematic of the erosion of Hong Kong’s civil liberties, highlighting that evidence from before the security law’s passage was used in the prosecution’s case.

Critics, including Western governments, described the conviction as a setback for press freedom and judicial independence, while Beijing and Hong Kong authorities defended the verdict as lawful and necessary to protect stability.

Lai has been detained since his arrest, spending much of that time in solitary confinement, during which his health reportedly deteriorated.

Sentencing hearings are expected to commence in January, with Lai facing a potential life term.

The outcome will be closely watched by international observers as a bellwether for the future enforcement of national security provisions and the space for dissent in Hong Kong’s evolving legal landscape.
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China’s Genius Convertible Wedding Tent

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Hong Kong’s Deadly Fire and Political Upheaval Cast a Long Shadow Over U.S.–China Relations

A catastrophic high-rise blaze in Hong Kong coincides with accelerating political suppression under Beijing and emerging tensions in Washington’s approach to China
A devastating fire that tore through a residential complex in Hong Kong’s Tai Po district in late November has become one of the city’s deadliest urban disasters in decades, claiming at least one hundred and sixty lives and leaving families and officials grappling with systemic safety failures and political ramifications.

The inferno engulfed seven high-rise towers at the Wang Fuk Court estate, spreading rapidly as firefighters battled the blaze for more than forty-three hours and raising urgent questions about regulatory oversight, building maintenance standards and the use of combustible materials on aging structures.

Authorities have made multiple arrests linked to renovation work at the site and acknowledged that substandard materials likely fuelled the fire’s spread, even as an independent inquiry is expected to conclude within nine months amid public demands for accountability and reforms.

The tragedy has also sparked sorrowful, and in some quarters contentious, public discourse about governance and civic safety in the semi-autonomous city. 

Hong Kong’s broader political landscape has simultaneously shifted, with the city’s largest pro-democracy party formally dissolving after more than three decades of activism — a symbolic moment in the eroding space for political diversity since the imposition of national security legislation in 2020. In a separate but closely watched legal proceeding, prominent media tycoon and pro-democracy advocate Jimmy Lai was convicted by the High Court under that same national security framework of colluding with foreign forces and publishing seditious material, in a verdict that carries the potential for a life sentence.

Chinese authorities have defended the judicial process, while international governments, including the United States and the United Kingdom, have criticised the outcome as undermining civil liberties and judicial independence.

Lai, who has been detained for years and suffered health deterioration, now awaits sentencing scheduled for early next year. 
These developments unfold as U.S.–China strategic competition remains a central feature of global geopolitics under President Donald Trump’s administration.

Washington extended a “national emergency” designation concerning Hong Kong earlier this year, continuing a policy approach begun in previous administrations that subjects the territory to parity with mainland China for purposes of sanctions and export controls.

This policy was originally enacted through U.S. legislation and executive action designed to hold China accountable for actions seen as eroding Hong Kong’s promised autonomy.

At the same time, analysts note that U.S. human-rights-focused engagement on Hong Kong has been mixed, with Washington emphasising broader economic and security issues with Beijing over specific civic freedoms.

Officials including U.S. legislators have highlighted concerns about Hong Kong’s role in financial practices and sanctions compliance, and some observers warn that tensions over governance, safety, and political freedom in the city risk becoming a broader flashpoint in Washington’s evolving China strategy. 
As Hong Kong mourns the victims of the Tai Po fire and grapples with seismic political shifts, questions about governance, public safety and international relations continue to resonate.

The fire and its aftermath have reignited scrutiny of building safety regulations and the authorities’ responsiveness, even as calls for institutional reforms echo against the backdrop of tightened political control.

With global attention on both the human toll of the tragedy and the legal and political constrictions now reshaping Hong Kong society, the city faces a complex and challenging reckoning in the months ahead.
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Jimmy Lai’s Daughter Says She Is ‘Grieving’ After His Conviction, Appeals for Support

Hong Kong pro-democracy figure’s daughter speaks out in Washington after landmark national security verdict that could see him jailed for life
Jimmy Lai’s daughter, Claire Lai, said she is “grieving” following the guilty verdict against her father in Hong Kong’s national security trial, emphasising the emotional toll of the conviction and appealing for international support to help secure his freedom.

The comments were made hours after Hong Kong’s High Court found the 78-year-old media mogul guilty of conspiracy to collude with foreign forces and publishing seditious material under the city’s Beijing-imposed security laws, in a case that has drawn global scrutiny and sharp criticism from rights advocates and Western governments.

The verdict exposes Lai to a possible life sentence, intensifying concerns over press freedom and judicial independence in the city.

Speaking to reporters in Washington, D.C., Claire said that although she and her family had anticipated the verdict, the emotional impact was profound.

“As much as you can expect that, you can only be so ready for it.

So I am grieving,” she said, underscoring the human cost of the legal proceedings that have spanned more than two years.

She expressed hope that international pressure might spare her father from spending the rest of his life behind bars, portraying him as someone who, if freed, would focus on family and his faith rather than political activism.

Claire has previously shared personal accounts of her father’s deteriorating health after more than five years of detention, including prolonged periods in solitary confinement.

She described his wish to reunite with family and dedicate his remaining years to his faith and loved ones, rather than continuing his high-profile activism.

Her comments in Washington reflected persistent concerns about his physical condition and the broader implications of his imprisonment for civil liberties in Hong Kong.

The conviction of Jimmy Lai, founder of the now-defunct pro-democracy Apple Daily newspaper, has sparked widespread international reaction.

Advocates for media freedom and democratic rights have condemned the outcome as a blow to press independence.

His family’s appeals come as diplomats and political figures weigh responses to the verdict, with some calling for conditions on bilateral relations with China to secure his release.

Despite official assurances from Hong Kong authorities that due process was followed, Lai’s supporters argue that the case exemplifies a broader crackdown on dissent.

Sentencing is scheduled for January 2026, when a judge will determine the appropriate term under the national security law.

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Hong Kong High Court Convicts Media Tycoon Jimmy Lai of Sedition and National Security Offences

Prominent pro-democracy publisher found guilty of colluding with foreign forces and publishing seditious material under China’s national security law

Hong Kong’s High Court has found veteran media tycoon Jimmy Lai guilty of multiple offences, including conspiracy to collude with foreign forces and conspiracy to publish seditious material under the city’s China-imposed national security law, in a landmark verdict that could see him imprisoned for life.

The 78-year-old founder of the now-defunct pro-democracy newspaper Apple Daily was convicted on all charges following a 156-day trial that began in December 2023 and drew sustained international attention to issues of press freedom and judicial independence in the global financial hub.

In open court proceedings at the West Kowloon district court, a panel of three judges concluded that Lai used his media platform and international connections to advocate foreign sanctions and hostile actions against the Hong Kong and Chinese governments, asserting that his intent was to undermine the authority of the Chinese Communist Party.

The court’s detailed 855-page ruling underscored the evidence presented by prosecutors that Lai continued his activities even after the national security law came into effect in June 2020. Lai denied all charges and had stated that his engagement with foreign officials and commentary in his publications were expressions of his views rather than criminal conduct.

Lai has been detained since his arrest in 2020 and has spent more than five years in custody, much of it in solitary confinement.

Defense lawyers are scheduled to present mitigation arguments at a pre-sentencing hearing in January, with an opportunity to seek leniency or appeal.

Those close to Lai have expressed concern about his health, citing weight loss and pre-existing conditions during his prolonged detention.

The conviction has prompted widespread international reaction, with governments and rights organisations emphasising its broader implications for civil liberties in Hong Kong.

British, U.S., European Union, Australian and Taiwanese officials publicly criticised the trial and verdict, describing the proceedings as politically motivated and warning that the case highlights an erosion of freedoms that were promised under the city’s constitutional framework.

Beijing and Hong Kong authorities, however, defended the verdict as a lawful application of the national security law and asserted that it reflects the judiciary’s duty to uphold national security.

Lai’s Apple Daily, once a vibrant voice of Hong Kong’s pro-democracy movement, was forced to shut down in 2021 after authorities froze the newspaper’s assets and its offices were raided.

Lai’s conviction is widely seen as one of the most consequential applications of the sweeping 2020 national security law, which was enacted in response to the large-scale protests of 2019. Supporters of Lai view the verdict as emblematic of the shrinking space for dissent and independent journalism in Hong Kong, even as officials maintain that the law is necessary to safeguard stability and security.

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Jimmy Lai, Hong Kong Media Tycoon and Long-time Beijing Critic, Convicted Under National Security Law

Founder of Apple Daily faces potential life sentence after being found guilty of collusion and sedition in a landmark verdict
Jimmy Lai, a prominent Hong Kong media tycoon and outspoken critic of Beijing, has been convicted on charges of conspiracy to collude with foreign forces and sedition under Hong Kong’s national security law, in a ruling that could see him imprisoned for the rest of his life.

The 78-year-old founder of the pro-democracy newspaper Apple Daily has been held in custody since 2020, much of it in solitary confinement, as his trial — one of the most high-profile uses of the law imposed by Beijing in 2020 — stretched over more than two years before judges delivered the verdict.

Born in Guangzhou and arriving in then-British Hong Kong as a young stowaway, Lai built his first fortune in business before founding Apple Daily in 1995. Under his leadership the tabloid became a commercial success and a vocal platform for liberal causes, vigorously criticising both Hong Kong and mainland Chinese authorities.

His support for the pro-democracy movement and willingness to use his media outlets to spotlight dissent made him one of the city’s most polarising figures, admired by supporters for his defiance and decried by opponents who labelled his activism a threat to stability.

The charges against Lai stem from his activities surrounding the 2019 pro-democracy protests, including alleged efforts to solicit foreign support for sanctions and other measures against Hong Kong and Chinese officials.

Prosecutors also accused him of publishing seditious material that they said sought to destabilise the Chinese Communist Party’s governance.

Lai consistently denied the allegations, asserting that his engagement with foreign interlocutors was meant to inform them of developments in Hong Kong rather than to influence foreign policy.

In delivering the conviction, the Hong Kong court applied provisions of the national security law that were introduced by Beijing to criminalise acts of secession, subversion, terrorism and collusion with foreign forces.

Critics, including international rights organisations, Western governments and media freedom advocates, have condemned the verdict as evidence of the erosion of press freedom and judicial independence in the city.

U.S., British and European Union officials have all expressed concern over the implications of the case for civil liberties in Hong Kong and have called for Lai’s release.

Lai has previously received multiple prison sentences for protest-related offences and has seen his assets frozen and his media empire dismantled, culminating in the closure of Apple Daily in 2021 following police raids on its offices.

Supporters, including religious figures and international advocates, have rallied around his plight, pointing to his deteriorating health in detention.

A sentencing hearing is scheduled to begin in January, where Lai’s legal team will argue for mitigation amid calls from his family and international backers for clemency.
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HSBC’s Plan to Take Hang Seng Bank Private Secures Independent Committee Backing

Independent board committee deems HSBC’s offer fair and reasonable, advancing bid to acquire full ownership of Hong Kong’s leading lender
HSBC’s bid to take Hang Seng Bank private made a decisive advance on Monday after an independent board committee of the Hong Kong lender concluded that the proposed offer by HSBC Holdings to acquire the remaining minority shares is fair and reasonable and should be supported by shareholders.

The endorsement clears a key procedural hurdle for one of the most significant banking transactions in Hong Kong this year, underpinning HSBC’s strategic objective to consolidate its control of the city’s historic financial institution. 
Under the proposal, first announced in October, HSBC — which already holds about 63 per cent of Hang Seng — has offered HK$155 in cash for each share it does not already own, valuing the entire bank at about HK$290 billion, or around US$37 billion.

The board committee’s recommendation follows the assessment of an independent financial adviser that minority investors would benefit from the terms of the offer, which represents a substantial premium over recent market prices. 
HSBC’s chief executive, Georges Elhedery, has framed the privatisation as a long-term investment in its core home market and a way to strengthen the combined banking franchise, enhancing operational alignment and deepening customer reach.

HSBC has emphasised its intention to preserve Hang Seng’s brand, governance and banking licence while leveraging the wider group’s global network and product capabilities to support future growth. 
If approved by minority shareholders and sanctioned by the Hong Kong High Court, the scheme of arrangement will result in Hang Seng’s shares being withdrawn from the Hong Kong Stock Exchange, likely in late January, and the bank becoming a wholly owned subsidiary of HSBC.

HSBC plans to fund the approximately US$13.6 billion acquisition from its internal resources. 
Market reaction to the committee’s endorsement was mixed, with HSBC’s shares rising modestly in London trading while Hang Seng’s stock performance reflected anticipation of the vote.

The next step in the process will be a shareholders’ meeting scheduled for early January, when minority holders will decide on the proposed privatisation.

A successful vote would mark a major transformation in the ownership of one of Hong Kong’s largest and most historic banks.
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Hongkong Land Completes Targeted Share Repurchase as Part of Capital Strategy

Strategic buyback of 235,000 ordinary shares reflects disciplined capital management and reinforces shareholder value
Hongkong Land Holdings announced that it has executed a share repurchase of two hundred and thirty-five thousand of its ordinary shares, in a transaction completed on September eleventh and subsequently cancelled, as part of its ongoing capital management programme.

The repurchased shares, acquired at prices between six dollars thirty-seven cents and six dollars forty-six cents United States per share, were cancelled, reducing the company’s share capital and reflecting the board’s commitment to disciplined use of capital and enhancement of shareholder returns.

Following the cancellation, the company’s issued ordinary share capital with voting rights stands at approximately two billion one hundred seventy-five million two hundred seventy-seven thousand nine hundred twenty-six shares.

The repurchase follows Hongkong Land’s broader capital recycling strategy, which includes asset disposals and targeted buybacks designed to optimise the company’s balance sheet and return value to shareholders.

Earlier in the year, the company announced a formal share buyback programme of up to two hundred million dollars financed through proceeds from property transactions, including the sale of part of One Exchange Square to Hong Kong Exchanges and Clearing.

That programme, announced in April and scheduled to run through December thirty-first, two thousand twenty-five, underpins the firm’s approach to capital allocation amid evolving market conditions.

Shares in Hongkong Land responded modestly to the announcement of the repurchase, closing slightly higher on the day following the transaction.

The company has reiterated that its strategy continues to prioritise financial strength, flexibility and value creation, balancing shareholder returns with reinvestment in core markets.

Investors and analysts view the targeted buyback as a constructive step in managing the company’s capital base and enhancing per-share metrics over time.
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Greater Bay Area Advances First Commercial eVTOL Air-Taxi Link Between Hong Kong and Shenzhen

Plans emerge for a pioneering electric vertical take-off and landing route set to transform travel in the Guangdong-Hong Kong-Macao region
Governments and industry stakeholders in the Guangdong-Hong Kong-Macao Greater Bay Area are moving forward with plans to establish the region’s first commercial electric vertical take-off and landing aircraft, or eVTOL, service linking Hong Kong and Shenzhen as part of an expanding low-altitude economy initiative.

The route follows a landmark demonstration flight earlier this year when an eVTOL aircraft completed an inter-city crossing between Shenzhen and Zhuhai in just twenty minutes, a journey that otherwise takes hours by road.

This achievement highlighted the potential of zero-emission, electrically powered vertical flight to reduce travel times and open new forms of sustainable transport in one of China’s most densely populated and economically dynamic regions.

Building on this progress, local authorities and aviation developers have indicated growing support for regularised eVTOL operations, including cross-border routes connecting major urban centres.

Industry representatives emphasise that eVTOL aircraft — which do not require conventional runways and can operate from compact vertiports — could offer rapid, low-noise alternatives to traditional ground and helicopter travel, while contributing to broader economic growth and connectivity goals across the Greater Bay Area.

As regulatory agencies refine frameworks for low-altitude airspace and safety certification, the move to commercialise eVTOL services between Hong Kong and Shenzhen is seen as a strategic step toward integrating aerial mobility into the region’s transport infrastructure and supporting future passenger and logistics applications.
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Hong Kong Crypto Exchange HashKey Raises US$206 Million in Landmark IPO

Licensed digital-asset platform priced its shares near the top of range, highlighting strong investor interest amid market volatility
HashKey Holdings Ltd., operator of Hong Kong’s largest licensed cryptocurrency exchange, has raised approximately HK$1.6 billion (about US$206 million) through its initial public offering on the Hong Kong Stock Exchange, in a transaction priced near the top of its marketed range.

The company sold 240.6 million shares at HK$6.68 each, within a marketed price band of HK$5.95 to HK$6.95, reflecting robust demand from institutional and cornerstone investors such as UBS Asset Management, Fidelity and China-based CDH, according to market sources.

Trading on the exchange is expected to begin on December 17, positioning HashKey as one of the few publicly traded players in the regulated digital-assets sector.

Founded in 2018, HashKey operates a regulated virtual-asset trading platform and offers a suite of related services including asset management, brokerage and tokenisation under Hong Kong’s virtual-asset licensing regime introduced in 2022, which aims to foster a compliant crypto ecosystem.

The successful IPO comes amid heightened price volatility in global digital-asset markets, with Bitcoin having experienced significant fluctuations following record highs in recent months.

Hong Kong’s regulatory approach contrasts with mainland China’s strict ban on cryptocurrency trading, as authorities in the mainland continue to emphasise risks associated with speculative virtual-asset activity and reaffirm enforcement measures against illegal crypto-related operations.

The proceeds from HashKey’s offering are expected to support technology development, expanded infrastructure and broader market initiatives as the exchange seeks to consolidate its position within Asia’s fast-evolving digital-asset landscape.

Market observers view the IPO as a signal of institutional confidence in Hong Kong’s regulated crypto framework, even as the broader industry navigates cyclical pressures and competitive dynamics across global financial hubs.

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Experts Warn Hong Kong May See Rising Debt Restructuring and Business Liquidations Amid Economic Strain

Sluggish economy, property-sector distress and corporate indebtedness set the stage for more restructurings and potential insolvencies across the financial hub
Hong Kong is poised for an increase in debt restructurings and company liquidations as economic headwinds intensify and key sectors struggle with mounting financial pressures.

A series of recent developments has highlighted vulnerabilities in the territory’s economy, particularly in the property and aviation sectors, prompting warnings from restructuring specialists and market analysts about the likelihood of more distressed corporate balance sheets needing formal remedies.

Last week, the High Court approved a HK$49 billion debt restructuring scheme for Hong Kong Airlines Ltd., underscoring the acute pressures facing local corporates after years of pandemic-related downturn and liquidity challenges.

The sanctioned “scheme of arrangement” will allow the airline, backed by the bankrupt HNA Group, to jettison aircraft, raise new funding and attempt to resume more extensive services across the Asia-Pacific region.

The restructuring plan drew no opposition in court, but reflects how deeply indebted firms are seeking legal frameworks to manage obligations and avoid outright collapse.

Underlying these corporate strains is a broader slowdown in Hong Kong’s economic growth, with weak sales in the city’s critical property sector pushing developers and banks toward complex refinancing negotiations and restructuring talks.

Analysts note that forthcoming bond maturities for Hong Kong-linked property firms are set to rise sharply next year amid falling sales and asset valuations, which could prompt further restructurings if companies cannot meet repayment deadlines.

The property market’s travails also have ripple effects through financial institutions and creditor networks.

Commercial property valuations in Hong Kong remain depressed, putting downward pressure on asset collateral and fueling concerns about non-performing loans.

In some cases, banks have indicated they may sell real estate exposure at a loss as part of risk management, while developers must navigate complex offshore debt negotiations with creditor groups that sometimes threaten liquidation if agreements cannot be reached.

Corporate insolvency law and restructuring frameworks in Hong Kong offer structured processes, including schemes of arrangement and winding-up petitions, but these mechanisms can signal deeper systemic stress when used at scale.

Recent legal commentary highlights how courts are increasingly handling high-profile restructurings, with liquidations proceeding for entities that fail to present viable plans, as exemplified by long-running offshore cases related to large indebted firms.

Economists say that while not all sectors will face restructuring or closure, the confluence of weak domestic demand, elevated debt burdens and external economic uncertainty means that more companies — particularly in property and associated industries — could resort to formal debt resolution processes.

Observers also note that Hong Kong’s status as a global financial centre means these developments are watched closely by investors and regulators alike for what they may signal about regional economic resilience and financial stability.
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Key Facts About the National Security Trial of Hong Kong Media Tycoon Jimmy Lai

The long-running trial of the former Apple Daily founder culminated in his conviction on collusion and sedition charges under Hong Kong’s security law
Jimmy Lai, the 78-year-old founder of the now-defunct pro-democracy newspaper Apple Daily, was convicted in December 2025 of conspiracy to collude with foreign forces and conspiracy to publish seditious material under Hong Kong’s national security law, marking one of the city’s most high-profile rulings since Beijing imposed the law in 2020. The case has drawn intense international scrutiny and is viewed as a barometer of judicial independence and press freedom in the former British colony.

Instituted amid the 2019 pro-democracy protests, the national security law criminalises acts of secession, subversion, terrorism and collusion with foreign entities, with potential penalties up to life imprisonment.

Lai has denied wrongdoing, saying his engagement with foreign officials aimed to inform them about developments in Hong Kong rather than to influence foreign policy.

The prosecution argued that his media activities, including through Apple Daily and allied advocacy groups, sought to solicit sanctions and punitive measures from Western governments, which under the law constituted collusion.

After a trial lasting more than 156 days and spanning over two years, judges delivered an 855-page verdict finding Lai guilty on multiple counts.

He has been held in custody since his arrest in 2020 and has spent much of that time in solitary confinement.

Lai’s legal team intends to seek mitigation at a January 2026 sentencing hearing amid concerns over his deteriorating health, including weight loss, heart problems and diabetes complications.

The conviction has elicited strong reactions from Western governments, including calls for his release from U.K., U.S., European Union and Taiwanese officials, who describe the outcome as damaging to civil liberties in Hong Kong.

Beijing and Hong Kong authorities have defended the proceedings as lawful and necessary to uphold national security and stability.

Supporters of Lai see the verdict as symbolic of a broader contraction of dissent and independent journalism in the territory, while rights groups warn it reflects ongoing erosion of freedoms promised under the “one country, two systems” framework.

Lai’s trial also involved accusations under a revived colonial-era sedition law, and the case has been closely watched by diplomats and legal observers as a test of the city’s rule of law.

The evolution of the trial, including delays due to health and weather issues, and the involvement of foreign legal counsel changes, illustrated the complexity and international attention the case garnered.

Sentencing is scheduled for early next year, when Lai’s fate under the national security regime will be decided.
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The Jetson ONE personal air vehicle costs $128K. You can fly it without a pilot license after a quick 5-day training course.

Needs an $8,000 deposit. has backup batteries, a ballistic parachute, and radar that handles auto-landing. top speed 102 km/h.



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Hong Kong Chief Executive John Lee to Begin Annual Beijing Duty Visit

Lee will brief Chinese state leaders on Hong Kong’s policy priorities, post-fire response and economic outlook during a three-day trip to the capital
Hong Kong’s Chief Executive John Lee Ka-chiu is set to embark on his annual duty visit to Beijing early this week, where he will meet senior Chinese state leaders to brief them on the Special Administrative Region’s latest economic, social and political developments.

The government announced that Lee’s trip will last three days in the Chinese capital and is intended to facilitate direct reporting to central authorities on major local issues, including recent events such as the devastating fire in Tai Po’s Wang Fuk Court that claimed numerous lives and sparked public conversation about safety and governance.

Alongside key aides, Lee will outline Hong Kong’s policy blueprints, improvements in international ratings and how the city can better serve national strategies under the ‘‘one country, two systems’’ principle.

The visit underscores the routine, institutionalised channel through which the Hong Kong leadership communicates with the central government in Beijing.

Previous duty visits have included meetings with President Xi Jinping and other senior officials, focusing on economic revitalisation, talent development, trade integration and structural initiatives to enhance Hong Kong’s role as a regional hub.

While Lee is in Beijing, Chief Secretary Eric Chan will serve as acting chief executive in his absence.

The meetings are expected to reinforce cooperation between Hong Kong and mainland authorities at a time marked by both policy challenges and sustained efforts to solidify the city’s economic resilience and integration with broader national development priorities.
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China’s success is by design: Every product and its supply chain are tied to one huge city the size of a nation.

This is why other nations can’t compete with China. Is chaotic system vs. well planed, designed, implemented system.


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Hong Kong Outlines Ambitious Plan to Trial Passenger-Carrying Drones Within Two to Three Years

City officials set timelines and regulatory roadmaps for integrating passenger drones into the low-altitude economy as part of broader aviation strategy
Hong Kong is moving ahead with plans to develop passenger-carrying drone services, with officials indicating that trials and initial operations could begin within the next two to three years as part of a wider drive to build a low-altitude economy.

Transport and Logistics Secretary Mable Chan set out a phased roadmap at the Airspace Asia Pacific 2025 forum in Hong Kong, where she highlighted the government’s work on integrating advanced drone and electric vertical take-off and landing (eVTOL) aircraft into regulated airspace.

Chan said that Hong Kong’s “Regulatory Sandbox X” has already begun testing heavier logistics drones and advanced applications, and that a comprehensive legislative package enabling heavier, more complex operations — including passenger drones — is expected by the end of 2026. Early phase regulatory changes this year extended drone classifications to cover craft weighing up to 150 kilograms, laying groundwork for future, larger-scale operations that could include human-carrying flights.

The government has emphasised safety and public consultation in shaping the legal framework, noting that passenger drone trials will be carefully controlled and initially focused on less-densely populated areas or island tourism routes to minimise impact on urban airspace.

Industry participants, including local mobility firms and academic partners, are already engaged in research and smaller pilot projects, exploring potential applications such as sightseeing tours, medical logistics and short-haul travel links to outlying islands.

These developments form part of Hong Kong’s broader strategy to leverage its advanced aviation infrastructure, deepen ties with the Greater Bay Area and position the city at the forefront of next-generation air mobility in Asia.

Officials have said that if regulatory and technological milestones are met in the coming years, passenger-carrying drone services could begin limited operations within that two-to-three year horizon, adding a new dimension to Hong Kong’s transport ecosystem.
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Rain Electrifies Opening of Hong Kong International Races as Crowds Flock to Sha Tin

K-pop star Rain’s headline performance heralds a vibrant start to the Longines HKIR celebration at Sha Tin Racecourse
K-pop luminary Rain delivered a dynamic opening performance at the Longines Hong Kong International Races at Sha Tin Racecourse, drawing thousands of spectators and setting an upbeat tone for one of the city’s premier sporting and entertainment occasions.

The internationally acclaimed singer and performer appeared in the Parade Ring to kick off the raceday programme with an energetic set that blended music and choreography, energising racegoers as they gathered for elite thoroughbred competition.

Rain’s participation was a highlight of the event’s entertainment schedule, designed to complement the world-class racing that forms the core of the Hong Kong Jockey Club’s annual showcase.

Crowds arriving early to Sha Tin were treated not only to Rain’s celebrated stage presence but also to a full day of racing, social experiences and hospitality offerings organised around the Longines Hong Kong International Races, which feature some of the globe’s top horses vying for Group 1 honours.

The event, widely recognised as a climax of the city’s racing calendar, has become a draw for both local fans and international visitors, with the entertainment lineup amplifying its appeal.

Rain’s set underscored the fusion of sport and cultural celebration that the Hong Kong Jockey Club has championed, reinforcing the international character of the Longines HKIR and its role as a landmark occasion in the region’s sporting year.
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New Retail Entrants Stabilise Hong Kong’s Property Market as Luxury Pulls Back

Mid-market brands and experiential tenants help steady rents amid a prolonged slowdown in high-end retail
Hong Kong’s retail property market is showing signs of stabilisation as new entrants and mid-market brands move in to fill space once dominated by luxury labels, offsetting the impact of a sustained pullback at the top end of the sector.

Leasing activity in key shopping districts has been supported by affordable fashion, lifestyle, food and beverage operators, as well as experiential concepts targeting local consumers rather than high-spending tourists.

Property consultants report that while luxury retailers continue to rationalise their footprints amid changing travel patterns and cautious global demand, vacancy rates have begun to level off as landlords adjust expectations and pricing.

Rents in prime areas remain below pre-pandemic peaks, but declines have moderated, reflecting improved foot traffic and more diversified tenant mixes.

Retailers from mainland China and other parts of Asia have been particularly active, taking advantage of more flexible lease terms and prominent locations that were previously out of reach.

The shift marks a structural rebalancing of Hong Kong’s retail landscape, with less reliance on luxury spending and greater emphasis on everyday consumption and services.

Market participants say the trend has brought greater resilience to retail property performance, even as the sector continues to navigate broader economic uncertainty and evolving consumer behaviour.
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Hong Kong Court Set to Deliver Verdict in Jimmy Lai’s Landmark National Security Trial

Judges prepare to rule on charges against media mogul whose case has become emblematic of the city’s shifting legal and political landscape
Hong Kong’s High Court is poised to deliver a long-awaited verdict in the national security trial of Jimmy Lai, a veteran pro-democracy media tycoon whose case has captured international attention and highlighted deepening tensions over civil liberties in the former British colony.

The verdict, scheduled for delivery by a three-judge panel on Monday morning, follows a protracted trial that stretched more than one hundred and fifty days and examined charges of conspiracy to collude with foreign forces and conspiracy to publish seditious material under the city’s national security law.

Lai, the eighty-year-old founder of the now-defunct Apple Daily newspaper, has pleaded not guilty to the charges and has been held in custody for several years amid concerns about his health and deteriorating conditions in solitary confinement.

Prosecutors alleged that Apple Daily’s reporting and Lai’s contacts with foreign officials and organisations constituted unlawful collusion and publication of material deemed threatening to national security, while Lai’s defence maintained that his actions reflected advocacy for freedom of expression and democratic values rather than criminal conduct.

Supporters queued outside the West Kowloon courthouse overnight ahead of the verdict, illustrating the symbolic significance of the case for Hong Kong’s civil society as the city’s once-pluralistic political environment continues to evolve under Beijing’s tighter governance.

The proceedings, conducted without a jury and before judges appointed under Hong Kong’s legal framework, have drawn scrutiny from foreign governments and rights organisations, both of which have framed the outcome as a bellwether for judicial independence and press freedom in the territory.

Authorities emphasised that the trial has been conducted strictly on the basis of evidence and in accordance with the law, while maintaining that safeguarding national security is a priority.

The ruling is expected to have far-reaching implications for media, politics and civil liberties in Hong Kong, with Lai’s potential sentence — which could include life imprisonment if he is convicted — to be determined and subject to appeal in subsequent proceedings.
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Hong Kong’s Last Pro-Democracy Party Votes to Disband Amid Intensified China Pressure

The former flagship Democratic Party dissolves after more than three decades as Beijing’s national security crackdown leaves no formal opposition in the city
Hong Kong’s largest and once most influential pro-democracy political party has voted to disband, marking the end of formal liberal opposition in the city’s political landscape after more than thirty years of activism.

Members of the Democratic Party, founded in the mid-nineties ahead of the territory’s return to Chinese rule, overwhelmingly supported liquidation in an extraordinary general meeting as political space for dissent has all but vanished under successive national security measures imposed by Beijing.

The dissolution followed a stringent national security law enacted in 2020 that broadened authorities’ power to suppress dissent and led to the arrest, prosecution or enforced exile of many prominent activists, lawmakers and civil society figures.

Democratic Party chair Lo Kin-hei said members concluded that, given current conditions, dissolving the party was the most viable path forward, even as he expressed pride in its decades-long role advocating for civil liberties, universal suffrage and accountable governance.

Reports indicate that some members received warnings from officials or intermediaries about potential consequences, including possible arrest, if the party did not wind up its affairs.

The move comes after electoral reforms in two thousand twenty-one effectively barred mainstream pro-democracy candidates from contesting legislative elections, further marginalising dissenting voices.

The party’s closure follows a recent series of disbandments by other pro-democracy groups, including the League of Social Democrats earlier this year, leaving Hong Kong’s legislature entirely devoid of organised liberal opposition.

Observers say the rapid disappearance of established opposition parties underscores a dramatic shift in the city’s political culture and reflects the profound impact of Beijing’s tightening control under the “one country, two systems” framework.

Former chairwoman Emily Lau lamented the decision as a significant moment in Hong Kong’s governance history, while veteran members voiced hope that democratic values might one day find renewed expression should the political climate change.
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Footage of the gunmen around Bondi Beach during the terror attack. One of the gunmen has been named as 24-year-old Naveed Akram



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Hong Kong Airlines Inaugurates Direct Flights to Melbourne, Strengthening Asia-Australia Air Links

New thrice-weekly Airbus A330 service lands at Melbourne Airport, boosting connectivity, tourism and trade between the regions
Hong Kong Airlines has touched down in Melbourne with the launch of a new direct service that expands air connectivity between Hong Kong and Australia’s second-largest city.

Flight HX013 arrived at Melbourne Airport on Saturday morning, greeted with a traditional water cannon salute by rescue and firefighting crews, marking the airline’s first service to the Victorian capital.

The new route, operated by the airline’s Airbus A330 aircraft, will operate three times weekly on Tuesdays, Thursdays and Saturdays, adding more than ninety-three thousand passenger seats annually between the two cities.

The service follows a recent expansion of bilateral air traffic rights between Hong Kong and Australia, which has opened the door for additional carriers on the route and increased competition.

Melbourne Airport’s chief of aviation said the arrival of Hong Kong Airlines as the airport’s forty-first carrier underscores the growing demand for international travel options and the benefits of expanded air agreements.

Officials from the Victorian government highlighted the positive impact the new flights are expected to have on tourism and the local visitor economy, which has recorded record international numbers in recent months.

In addition to passenger travel, increased flight capacity is anticipated to support freight and export opportunities, further deepening economic ties between Victoria and Asian markets.

Hong Kong Airlines’ chairman welcomed the launch, noting that the Melbourne service enriches the airline’s long-haul network and offers customers greater choice and connectivity.

With onward connections from Hong Kong to destinations across Asia, North America and beyond, the new link positions Melbourne as a key hub in the carrier’s global strategy.
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US Proposal to Require Five Years of Social Media History From Visitors Raises Privacy and Travel Concerns

The Trump administration’s plan to expand social media vetting to all foreign travellers represents a major shift in US border screening
The United States is considering a significant expansion of its travel screening procedures that would require almost all foreign visitors, including tourists from visa-waiver countries, to disclose up to five years of social media history before entering the country.

The proposal, published by the Department of Homeland Security and U.S. Customs and Border Protection, would make social media disclosure a mandatory data element for travellers applying through the Electronic System for Travel Authorization, or ESTA, which allows passport holders from about forty-two countries to visit the United States for up to ninety days without a visa.

Under the planned rule, applicants would need to provide usernames and identifiers for all social media accounts used over the past five years, along with additional personal information such as past email addresses, phone numbers, and extensive family details.

The new requirement builds on earlier changes in 2025 that expanded social media vetting for student, work and other visa categories, reflecting the government’s broader effort to enhance what it describes as national security screening.

Supporters of the plan argue that deeper insight into travellers’ digital footprints could help identify potential threats before arrival and strengthen border security, particularly in the context of evolving global risks.

Critics, however, contend that mandating such detailed online disclosures risks infringing on privacy and freedom of expression, and could deter tourism, business travel and cultural exchange just months before major international events like the 2026 FIFA World Cup.

They have raised concerns that extensive digital data collection and review might chill legitimate online speech and burden travellers and companies with complex compliance demands.

The proposal is currently open for a public comment period of sixty days, and its final form and implementation timeline remain uncertain, meaning the changes would not take effect until after that review and any revisions.
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HashKey IPO Marks Turning Point for Hong Kong’s Regulated Crypto Sector

Public listing of the digital asset group underscores the city’s push to build a compliant, institution-friendly crypto hub
The planned initial public offering of HashKey is being widely interpreted as a milestone in Hong Kong’s evolving approach to digital assets, signalling a shift toward a more regulated and institutionally anchored crypto market.

HashKey, one of the city’s best-known digital asset groups and a licensed virtual asset trading platform, has moved forward with IPO preparations amid growing clarity in Hong Kong’s regulatory framework for cryptocurrencies.

The listing effort comes as authorities actively position the city as a global centre for compliant digital finance, distinguishing its approach from less regulated offshore markets.

Market participants say the IPO reflects increased confidence that crypto-related firms can operate transparently under clear rules, attract traditional investors and access public capital markets.

Hong Kong’s licensing regime for virtual asset service providers, introduced to bring exchanges under closer supervision, has been central to this shift, encouraging consolidation around firms willing to meet higher standards of governance, custody and investor protection.

Analysts note that HashKey’s move could pave the way for other regulated crypto companies to consider public listings, reinforcing Hong Kong’s ambition to integrate digital assets into its mainstream financial system.

While market volatility remains a factor, the IPO is seen as evidence that crypto activity in Hong Kong is transitioning from a niche, high-risk segment toward a more mature and regulated industry with stronger institutional participation.
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Hong Kong Positioned to Contribute to China’s Unified National Market Drive

The city’s financial expertise and legal framework are seen as assets in advancing deeper economic integration
Hong Kong is being urged to play an active role in the development of a strong and unified national market, as China moves to reduce internal barriers and improve the efficiency of goods, capital and services flows across the country.

Recent policy discussions have highlighted the city’s distinctive advantages, including its international financial connectivity, common law system and experience as a gateway between mainland China and global markets.

Advocates argue that closer alignment with national market reforms can reinforce Hong Kong’s relevance while supporting broader economic objectives such as innovation, supply chain resilience and balanced regional growth.

The push for a unified market aims to standardise regulations, lower transaction costs and encourage fair competition, creating a more predictable environment for businesses.

Hong Kong’s role is seen as complementary, offering high-end professional services, cross-border financing and risk management expertise that can facilitate market integration without undermining the “one country, two systems” framework.

Analysts note that participation in national initiatives could help Hong Kong diversify its economy and deepen links with fast-growing mainland regions, while maintaining its outward-facing character.

As China accelerates efforts to build a more cohesive domestic market, Hong Kong’s engagement is increasingly framed as both an opportunity and a responsibility within the evolving economic landscape.
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Thailand Condemns Cambodian Rocket Attack on Civilian Village

Bangkok says the strike deliberately targeted non-military areas, killing a civilian and destroying homes
The Thai government has strongly condemned what it says was a deliberate Cambodian attack on civilians after rocket fire struck a residential village in Si Sa Ket province, killing one person and damaging multiple homes.

According to Thai officials, BM-twenty-one rocket rounds were fired into Ban Nong Mek, located in Moo Four of the Sao Thong Chai subdistrict in Kantharalak district.

One civilian was killed, believed to have been hit by shrapnel near the front of Nong Mek School.

In the same incident, a house caught fire after being struck and was completely destroyed.

Several other homes were damaged by shrapnel.

Thai authorities stressed that the area hit had no connection to any military operation.

Residents had already been evacuated, a step that prevented further casualties.

Fire engines were dispatched and emergency services coordinated to control the blaze and secure the area.

Siripong, speaking on behalf of the Thai government, said the incident was reported directly by the village head of Moo Four and rejected any suggestion that the strike was accidental.

He said attacks on civilian communities are unacceptable under international norms and stated that this incident was deliberate, not an unintended error as Cambodia has often claimed in the past.

Thai officials emphasised that targeting civilian villages, schools, and homes represents a serious escalation and violates basic principles of international humanitarian conduct.

They reiterated that the affected civilians were ordinary residents with no involvement in hostilities.

The government said it would continue to document incidents affecting civilians and raise concerns through appropriate channels, while reaffirming its responsibility to protect Thai communities along the border.

The attack has deepened concerns in Bangkok over Cambodia’s conduct and the growing risk posed to civilians living near the frontier.
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Completely different time with a completely different work ethic



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Malaysia Destroys Over One Thousand Bitcoin Mining Machines After Court Order

Authorities say the equipment was used to steal roughly two million dollars’ worth of electricity
Malaysian authorities have seized and destroyed one thousand and sixty-nine Bitcoin mining machines after a court determined they had been used illegally to steal electricity on a large scale.

The machines were crushed using a bulldozer following the conclusion of legal proceedings, according to officials involved in the operation.

Investigators said the mining equipment had been operating without authorization and was connected to the power grid through illegal means.

The investigation concluded that the operation resulted in the theft of electricity valued at approximately two million United States dollars, placing a significant burden on public infrastructure and energy providers.

The seizure formed part of a broader enforcement action against illegal cryptocurrency mining in Malaysia, where subsidized electricity and growing demand have made unauthorized mining operations a recurring challenge for authorities.

Officials have repeatedly warned that such activities strain the national power system and increase costs for legitimate consumers.

After the court issued an order authorizing the destruction of the equipment, enforcement teams proceeded with the public disposal of the machines to prevent their reuse or resale.

Authorities stated that destroying the hardware served both as a practical measure and as a deterrent against future violations.

Malaysian officials emphasized that while cryptocurrency mining itself is not illegal under national law, operating such equipment without proper permits and by stealing electricity constitutes a serious criminal offense.

They said enforcement efforts would continue to focus on protecting public resources and ensuring compliance with energy and commercial regulations.

The incident underscores the growing tension between rapidly evolving digital industries and existing regulatory frameworks, particularly in countries where electricity subsidies and infrastructure constraints make illegal mining operations both attractive and costly.
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Critics Denounce Hong Kong Legislative Council Election as a Masquerade Amid Low Turnout and Public Anger

Opposition voices and civil society figures characterise the 2025 polls as lacking legitimacy as turnout remains near record lows and restrictive rules persist
Hong Kong’s recent Legislative Council election, held against the backdrop of public grief following the city’s deadliest residential blaze in decades, has drawn sharp condemnation from civic figures and critics who describe the poll as a “masquerade” rather than a genuine expression of public will.

The election, conducted under a restrictive political system that only permits candidates vetted as loyal to the Beijing-aligned administration to contest seats, saw a turnout rate of around 31.9 per cent of registered voters — a figure only marginally above the record low recorded in the first vote under the revised rules in 2021 and historically far below pre-overhaul participation levels.

Opponents of the current framework argue that the absence of a viable pro-democracy presence and the requirement that all candidates be approved for their loyalty have hollowed out meaningful choice for the city’s electorate, leaving many residents disengaged and questioning the credibility of the process.

Critics have noted that the electoral overhaul, which slashed the number of directly elected seats and expanded selections by bodies dominated by government and professional interests, has effectively sidelined dissenting voices and reduced the legislature to a forum for vetted representatives rather than a body reflecting diverse public views.

Public frustration was further heightened by the recent high-rise fire tragedy in Tai Po, where many voices called for accountability and systemic safety reforms; some observers suggested that the government’s handling of the disaster and the election’s conduct in its immediate aftermath underscored deeper concerns about governance and responsiveness.

Authorities, for their part, framed the election’s smooth conduct and modest uptick in participation as indicators of stability and support for institutional reform, noting efforts to encourage turnout through expanded polling access and outreach initiatives.

Nevertheless, critics maintain that without broader inclusion and genuine electoral competition, the legislature’s mandate will remain contested in the eyes of many residents, and that real democratic engagement cannot be achieved under the current constraints facing Hong Kong’s political landscape.
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Hong Kong Food Expo Vendors Anticipate Strong Sales Growth on Back of Larger Crowds and Good Weather

Exhibitors at the annual Hong Kong Food Expo forecast around twenty percent higher takings as attendance rises and conditions improve after early disruptions
Vendors at the annual Hong Kong Food Expo are reporting stronger footfall and expect sales revenue to exceed last year’s figures by up to around twenty percent, buoyed by larger crowds and favourable weather conditions that have helped sustain visitor numbers throughout the event.

On the fourth day of the five-day exhibition at the Hong Kong Convention and Exhibition Centre, exhibitors observed significant increases in consumer traffic as attendees queued early in the morning, with many arriving prepared to shop extensively and take advantage of special promotions and product bundles.

Several sellers said limited-edition deals and discounted packages, including Bumper offer bundles and novelty HK$1 items, were selling out quickly, a development they attributed to both high consumer interest and improved conditions following initial inclement weather that delayed the event’s first day.

Organisers had earlier expressed optimism that better weather would support turnout after concerns that unpredictable seasonal conditions might suppress attendance, and visitors from within the city and the Greater Bay Area contributed to sustained crowds in the exhibition halls.

Many vendors described a marked surge in midday and evening traffic, partly attributed to extended opening hours over the weekend that allowed customers to browse well into the evening, effectively lengthening the shopping day.

While final sales tallies will only be confirmed once the expo concludes, the general sentiment among participants reflects growing confidence in both the event’s draw and broader consumer appetite for in-person shopping experiences in Hong Kong’s exhibition sector.

The positive vendor outlook underscores a recovery in large-scale trade fairs and suggests robust support for the territory’s exhibitions industry as it continues to attract both local residents and regional visitors alike.
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Hong Kong Launches One-Stop Professional Services Platform to Help Mainland Chinese Firms Expand Globally

New ‘GoGlobal’ task force and integrated support system aim to position the city as the gateway for mainland enterprises entering overseas markets
Hong Kong has established a dedicated professional services platform designed to assist mainland Chinese companies in expanding their international operations, a strategic move to reinforce the city’s role as a global business launchpad.

The initiative, led by the Hong Kong Special Administrative Region government and supported by key agencies, brings together a suite of services through a centralised ‘GoGlobal’ task force and a one-stop support mechanism to streamline legal, financial, regulatory, and market entry assistance for mainland enterprises seeking to ‘go global’.

The platform integrates resources from the Hong Kong Trade Development Council, the Investment Promotion Agency and Hong Kong’s economic and trade offices, enabling firms to access tailored consultancy, regulatory guidance and cross-border networking opportunities from a single entry point.

Officials say this approach builds on recommendations set out in Hong Kong’s 2025 Policy Address to create integrated professional services that support mainland firms in establishing international headquarters or regional offices in the city and in navigating complexities associated with overseas expansion.

The launch was accompanied by promotional events and engagement activities in mainland cities, including Shanghai, where Hong Kong leaders emphasised the city’s unique advantages under the ‘one country, two systems’ framework — a common law legal system, open capital markets, established financial infrastructure and deep international networks that collectively offer mainland companies a secure and efficient steppingstone to foreign markets.

Commerce and legal professionals involved in the task force highlighted how the platform will reduce uncertainty for firms entering new jurisdictions, helping with compliance, risk management and supply-chain strategies as they pursue opportunities across Europe, Southeast Asia and other emerging regions.

Mainland enterprises are increasingly looking beyond domestic borders to diversify their revenue streams and global footprint, and Hong Kong’s initiative is intended to harness these ambitions while strengthening the city’s position as the premier service and expansion hub in Asia.
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Hong Kong’s 2025 Legislative Council Election Exposes Political Apathy and Systemic Constraints

A near-record low turnout and the dominance of vetted candidates highlight the evolving political landscape under the ‘patriots-only’ system
Hong Kong’s 2025 Legislative Council election, held on December seventh, underscored deepening political disengagement and structural change as the city’s electorate returned a fully vetted legislature under the so-called ‘patriots-only’ electoral framework.

With turnout recorded at 31.9 per cent of registered voters, participation remained only marginally above the record low set in the first election under the reformed system in 2021, and far below figures seen before the overhaul, when direct elections routinely attracted more than half the electorate.

This election was the second conducted since electoral laws were reconfigured to ensure that only candidates approved for their loyalty to Beijing could stand, and reduced directly elected geographical seats to twenty of the ninety seats in the Legislative Council while increasing selections by the Election Committee and functional constituencies.

The nomination period produced sixteen candidates vying for the twenty geographical constituency seats, with a total of 161 contender nominations overall across all modes of election.

The pro-Beijing Democratic Alliance for the Betterment and Progress of Hong Kong maintained its position as a leading force in the legislature, even as the broader political environment saw a notable absence of traditional opposition parties and a series of veteran lawmakers choose not to contest new terms.

Analysts contend that the low turnout reflects more than procedural inertia, pointing to heightened public disillusionment, particularly in the wake of a deadly residential fire in Tai Po just weeks before polling day that claimed more than one hundred fifty lives and intensified criticism of governance and accountability.

Authorities responded to public dissatisfaction with a broad civic mobilisation effort, extending polling hours and offering community incentives, yet many residents opted to sit out the poll or cast invalid ballots as a quiet expression of dissent within tightly regulated political space.

Legal restrictions have tightened in recent years, including arrests for public appeals to boycott the vote or submit invalid ballots, further narrowing avenues for open political contestation.

As the new council convenes with all ninety members confirmed, the election has reinforced the trajectory of Hong Kong’s political system under Beijing’s stewardship — one that prioritises stability and control while revealing persistent strains in civic engagement and public trust in representative institutions.
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Hongkong Land Shares Hit Twelve-Month High as Property Outlook Improves

The Asia-focused developer reaches a new annual peak, prompting investors to weigh valuation, earnings momentum and regional recovery signals
Shares in Hongkong Land have climbed to a new twelve-month high, reflecting renewed investor confidence in the property group’s balance sheet strength and its exposure to a stabilising Asian real-estate market.

The move comes after a sustained rally that has lifted the stock steadily over recent months, supported by improving sentiment toward high-quality developers with strong liquidity and prime asset portfolios.

Market participants point to Hongkong Land’s conservative financial management and its focus on premium commercial properties in key Asian gateway cities as central drivers of the recent share price performance.

The company has continued to prioritise capital discipline, selective development and long-term leasing income, which has helped insulate earnings from volatility seen elsewhere in the sector.

Signs of gradual recovery in office demand in parts of Southeast Asia and mainland China have also contributed to optimism around future cash flows.

Investors have additionally taken note of the company’s asset valuation resilience, particularly in its core Central Hong Kong portfolio, alongside progress in major mixed-use developments in Singapore, Shanghai and other regional hubs.

While the broader property sector remains sensitive to interest-rate trajectories and macroeconomic conditions, Hongkong Land’s focus on high-grade assets and long-duration tenants has been viewed as a relative advantage.

The stock’s rise to a twelve-month high has prompted fresh debate over whether further upside remains.

Some investors see scope for continued gains if regional economic growth strengthens and office markets stabilise further, while others caution that much of the near-term recovery optimism may already be reflected in the share price.

As attention turns to upcoming earnings updates and guidance, Hongkong Land’s ability to convert improving sentiment into sustained financial performance will be key to determining whether the rally can extend beyond current levels.
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Saudi Aviation Club and Samson Sky Forge Partnership to Bring Switchblade Flying Cars to the Kingdom

Riyadh agreement advances Vision 2030 goals by positioning flying car technology to enhance regional connectivity, tourism and modern mobility
Saudi Arabia’s aviation sector took a historic step this week with the signing of a significant Memorandum of Understanding between the Saudi Aviation Club and Oregon-based Samson Sky, the developer of the innovative Switchblade Flying Car.

The agreement was formalised on the opening day of the Sand & Fun 2025 Airshow in Riyadh, with Saudi aviation leaders and international partners present to witness the ceremony.

His Royal Highness Prince Sultan bin Salman bin Abdulaziz, Founder and Board Chairman of the Saudi Aviation Club, underscored the strategic importance of the pact, which aligns directly with the Kingdom’s Vision 2030 objectives of enhancing connectivity, diversifying tourism offerings and positioning Saudi Arabia as a global leader in advanced transportation technologies.

Under the terms of the MoU, Samson Sky will provide comprehensive training for mechanics and pilots of the Switchblade, assist with securing regulatory approvals for its use within Saudi airspace and grant access to Saudi Aviation Club facilities for sales, demonstrations and future operations.

The Switchblade, a hybrid-electric roadable aircraft capable of transforming from a sports car to an aircraft in a matter of minutes, can accelerate from zero to sixty miles per hour in five seconds and is engineered to cruise at speeds of up to 160 miles per hour with a range of roughly 500 miles on premium automotive fuel.

The partnership also envisages integration of the Switchblade into the Kingdom’s broader aviation ecosystem, offering a potential solution to bridge long distances between cities and support regional travel for both tourism and business purposes.

Saudi officials and Samson Sky executives have highlighted the broader economic promise of the flying car concept, noting that the technology could boost domestic aviation enthusiasm and attract international attention.

With considerable global interest in the Switchblade already reflected in thousands of reservations, the collaboration is poised to be a defining milestone in the evolution of personal aerial mobility in Saudi Arabia and beyond.
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Xi Jinping Praises Hong Kong and Macao Progress, Reinforces ‘One Country, Two Systems’ Vision
UOB Faces Headwinds from Hong Kong and China Property Loan Stress as Real Estate Prices Fall
China’s Biren Technology Moves Forward with Hong Kong IPO Plan After Regulatory Nod
Jimmy Lai Found Guilty in Landmark Hong Kong National Security Case
Hong Kong Jobless Rate Steadies as Labor Market Shows Signs of Stabilization
War on the Thailand–Cambodia Front
Hong Kong’s Deadly Fire and Political Upheaval Cast a Long Shadow Over U.S.–China Relations
Jimmy Lai’s Daughter Says She Is ‘Grieving’ After His Conviction, Appeals for Support
Hong Kong High Court Convicts Media Tycoon Jimmy Lai of Sedition and National Security Offences
Jimmy Lai, Hong Kong Media Tycoon and Long-time Beijing Critic, Convicted Under National Security Law
Hong Kong Chief Executive John Lee to Begin Annual Beijing Duty Visit
Hong Kong Outlines Ambitious Plan to Trial Passenger-Carrying Drones Within Two to Three Years
Rain Electrifies Opening of Hong Kong International Races as Crowds Flock to Sha Tin
New Retail Entrants Stabilise Hong Kong’s Property Market as Luxury Pulls Back
Hong Kong Court Set to Deliver Verdict in Jimmy Lai’s Landmark National Security Trial
Hong Kong’s Last Pro-Democracy Party Votes to Disband Amid Intensified China Pressure
Thailand Condemns Cambodian Rocket Attack on Civilian Village
Critics Denounce Hong Kong Legislative Council Election as a Masquerade Amid Low Turnout and Public Anger
Hong Kong Food Expo Vendors Anticipate Strong Sales Growth on Back of Larger Crowds and Good Weather
Hong Kong Launches One-Stop Professional Services Platform to Help Mainland Chinese Firms Expand Globally
Hong Kong’s 2025 Legislative Council Election Exposes Political Apathy and Systemic Constraints
Hongkong Land Shares Hit Twelve-Month High as Property Outlook Improves
Saudi Aviation Club and Samson Sky Forge Partnership to Bring Switchblade Flying Cars to the Kingdom
BAPE Launches First All-White Concept Store and Café in Hong Kong’s Iconic 1881 Heritage
Verdict in Jimmy Lai’s National Security Trial Nears, Intensifying Diplomatic Tensions
Cambodian Forces Intensify Attacks Across Seven Border Sectors; Thai Military Responds with Drones and Artillery
Hong Kong Faces Noticeable Chill This Weekend as Temperatures Dip to Around Fifteen Degrees
JD.com’s Jingdong Industrials Unit Sees Share Price Decline on Hong Kong Market Debut
Hackers Are Hiding Malware in Open-Source Tools and IDE Extensions
Traveling to USA? Homeland Security moving toward requiring foreign travelers to share social media history
JPMorgan Predicts Near-Twenty-Percent Gains for Hong Kong and China Stocks in 2026
Hong Kong Security Office Warns Foreign Media Over ‘False Information’ Ahead of Election
Indian Airports in Turmoil as IndiGo Cancels Over a Thousand Flights, Stranding Thousands
China Sees Sharp Jump in Number and Wealth of Billionaires Amid Tech and EV Boom
Hong Kong Luxury Sales Continue to Rise in October on Tourist Rebound
Hong Kong Fire Survivor Struggles With the “Hero” Label Amid Guilt and Grief
Hong Kong Fire Death Toll Climbs to 159 as Authorities Order Scaffolding-Net Sweep Citywide
Chinese Autonomous-Driving Firm Momenta Files for Hong Kong IPO Amid Shift from U.S. Markets
Hong Kong’s Fire-Response Highlights Eroding Divide with Beijing as Security Pressures Rise
Hong Kong Detains 13 on Manslaughter Charges After Fatal Tower-Block Fire
Silent Resistance: How Hong Kong’s Young Activists Are Surviving Under Deepening Repression
Beijing Warns Against Using Hong Kong’s Tai Po Fire as Pretext for Unrest
Southeast Asia Floods Push Death Toll Above Nine Hundred as Storm Cluster Devastates Region
Hong Kong Investigates Corruption and Safety Failures After Deadliest Fire in Decades
Hong Kong High-Rise Fire Death Toll Climbs to 128 as Authorities Broaden Criminal Probe
Hong Kong Tower Fire Surpasses Grenfell as One of Worst High-Rise Tragedies — Spark Renewed Focus on Building Safety Worldwide
Hong Kong Pushes Hydrogen Transport Plan as Part of 2050 Carbon-Neutrality Drive
Hong Kong Firefighter Set to Marry Next Month Dies in Tai Po Tower Blaze — City Honors Fallen Hero
Families Endure Agonising Wait as Nearly 300 People Remain Missing After Hong Kong Tower Blaze
Hong Kong Residents, Volunteers and Companies Mobilise Massive Aid Effort After Tai Po Tower Fire