Meet the Asian start-ups seeking to reshape online dating culture
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Singapore-based YouApp and Hong Kong-based DayOne are Asian dating app start-ups that aim to disrupt traditional models like Tinder and Bumble. YouApp has integrated features like horoscopes and Myers-Briggs tests to attract more women users, while DayOne only allows users to chat after confirming a date. YouApp has a higher percentage of women users compared to other apps. DayOne focuses on facilitating real-life meetings rather than virtual conversations. Both start-ups are trying to disrupt the online dating industry while major players like Match Group and Bumble have been struggling. YouApp offers services beyond dating, including business networking and event attendance. Both YouApp and DayOne are exploring additional revenue streams such as subscriptions and partnerships with venues. The goal of these new-generation dating apps is to provide a more human touch and focus on real-world interactions rather than just algorithms.
#AsianStartups #OnlineDating #Youapp #Dayone #Tinder #Bumble #Horoscopes #MyersbriggsTests #GenderImbalance #ReallifeMeetings #MatchGroup #Bumble #RevenueStreams
Why people are at the heart of Deutsche Bank’s success in China and Asia-Pacific
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Deutsche Bank aims to become employer of choice in China and Asia-Pacific by prioritizing a people-first approach, diversity and inclusion, and professional development. The bank's net revenue reached €28.9 billion last year, indicating the success of its people-centric culture. Initiatives include extending parental leave benefits, a global initiative to have 35% of executive positions filled by women by 2025, and fostering a collaborative work environment. The bank's focus on the region aligns with its plans for expansion in mainland China and Europe. Deutsche Bank also champions diversity and inclusion, addressing personal challenges faced by employees and fostering a sense of belonging. The bank's proactive support groups and initiatives aim to eradicate bias and optimize opportunities for a diverse mix of talent.
#DeutscheBank #China #Asiapacific #WorkplaceCulture #DiversityAndInclusion #ProfessionalDevelopment #ParentalLeave #GenderEquality #CollaborativeWorkEnvironment
China clears US$70 billion ‘low-altitude economy’ for take-off with promise of minimal interference
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China has given the green light for more activity by drones and other aerial vehicles in its pursuit of a 'low-altitude economy'. The Civil Aviation Administration of China (CAAC) will improve support services for low-altitude flight activities and refine the airworthiness certification system for unmanned aircraft. The 'low-altitude economy' refers to a wide range of industries related to vehicles operating below an altitude of 1,000 meters. The sector grew by 33.8% in 2023 to 506 billion yuan (US$70 billion) and is expected to surpass 1 trillion yuan by 2026. China aims to jump-start supply and innovation in general aviation equipment by 2027, with applications in urban air transport, logistics, and emergency rescue. The scale of China's eVTOL industry is projected to reach 9.5 billion yuan by 2026. Civil drones and industrial drones saw market shares increase in 2023, with applications expanding to include emergency support, energy inspection, and agriculture and forestry protection.
#China #LowaltitudeEconomy #Drones #AerialVehicles #CivilAviationAdministrationOfChina #Caac #GeneralAviation #Evtol #UnmannedAircraft
‘Only negatives for China’ as Biden readies for trilateral Camp David rerun, this time with Marcos Jnr and Kishida
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US President Joe Biden is set to meet Japanese Prime Minister Fumio Kishida and Philippine President Ferdinand Marcos Jnr in Washington in 10 days. The summit aims to advance trilateral security, economic, and technological ties, as well as cooperation on peace and security in the Indo-Pacific and around the world. The urgency driving the summit is China's growing military might, especially in the South China Sea, and shared concerns over tensions in the Taiwan Strait. Beijing is expected to view the summit as another Camp David and will likely have negative reactions, regardless of the level of trilateral cooperation reached. The summit is an attempt by the US to expand its strategic intervention in the South China Sea and set up small regional alliances to collectively contain China. The timing is right to formalize trilateral cooperation, as the US, Japan, and the Philippines have already upgraded bilateral defense ties. The summit is unlikely to be good news for China, as it brings together three of its most vocal critics and may prompt censure of Beijing. The emerging bloc is likely to further escalate tensions in the region and strain regional ties. The summit is also driven by the imminent transition of power in the US and Japan, as both countries aim to consolidate the relationship to ensure it is not affected by leadership changes.
#Us #Japan #Philippines #China #Biden #Kishida #MarcosJnr #CampDavid #SouthChinaSea #TaiwanStrait
Behind China’s new-energy overcapacity as it changes the face of manufacturing and raises the stakes of competitiveness
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Chinese manufacturers are expanding their businesses in the new-energy sector, despite concerns of overcapacity and trade restrictions imposed by the West. The growth in the new-energy sector, which includes electric vehicles (EVs), lithium-ion batteries, and solar panels, is seen as crucial for China's national security. However, overcapacity has become a challenge as domestic demand remains weak. Chinese companies are looking to explore overseas markets to survive and expand. The US and the European Union have raised concerns about unfair competition from low-priced Chinese products. China has been producing and installing the most new-energy generators globally, but the numbers have exceeded domestic demand. The upcoming US presidential election and the EU's anti-subsidy probe into China's exports of electric vehicles have resulted in trade tensions. China may face intensified pushback from emerging markets if the overcapacity issue continues. Chinese companies are embracing an industrial reshuffle and downstream participants are expected to benefit from bigger profit margins. China's new-energy industry aims to establish absolute advantages by utilizing a higher proportion of renewable energy in its overall energy consumption. Chinese companies and investors are scaling up production capacity to take advantage of falling prices in the new-energy sector.
#China #Newenergy #Overcapacity #Manufacturing #Competitiveness #TradeRestrictions #DomesticDemand #ElectricVehicles #LithiumionBatteries #SolarPanels #Us #EuropeanUnion #TradeTensions #EmergingMarkets #RenewableEnergy
Israeli PM Netanyahu to undergo hernia surgery
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Israeli Prime Minister Benjamin Netanyahu will undergo surgery on Sunday for a hernia. The 74-year-old leader will be under general anaesthetic during the procedure. Netanyahu held a news conference before the surgery, expressing confidence in a successful treatment and quick recovery. Justice Minister Yariv Levin will be standing in for Netanyahu during the operation. Thousands of protesters in Jerusalem marched against the Israeli government and military service exemptions granted to ultra-Orthodox Jews. The protests also called for a new election to replace the government and a more equal share in the burden of army service. Netanyahu's popularity has weakened since the war against Hamas in Gaza, and his trial for corruption is ongoing. The government is facing a new crisis over exemptions for ultra-Orthodox Jewish men from military service. Netanyahu's cabinet has faced widespread criticism over security failures. The war in Gaza has intensified the friction in society over the exemptions granted to ultra-Orthodox Jewish seminary students from military service. Netanyahu filed an application to the Supreme Court for a 30-day deferment on resolving the issue. Protesters also blocked a main motorway in Tel Aviv, demanding the return of their loved ones held hostage.
#BenjaminNetanyahu #HerniaSurgery #Protests #Jerusalem #IsraeliGovernment #UltraorthodoxJews #Gaza #Pacemaker #War #Hamas #Election #ArmyService #CorruptionTrial #SecurityFailures #SupremeCourt
Chinese solar power industry urged to stay united in face of US pressure
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The China Chamber of Commerce for Import and Export of Machinery and Electronic Products warns the Chinese solar power industry against internal competition in response to US efforts to target overcapacity. The industry experienced fierce competition in 2023, resulting in overcapacity and a decline in product prices. The chamber calls for industry self-discipline, compliance, and sustainable development. US Treasury Secretary Janet Yellen vows to address overcapacity issues and create a level playing field for American businesses. China's photovoltaic product exports in 2023 amounted to $47.59 billion, down 4.9% YoY. Solar cells have been a significant growth engine for China, with exports to the EU worth $19.2 billion in 2023. However, exports to the US face tariffs, with Chinese exports of solar cells to the US dropping 6.7% YoY. The Chinese trade chamber warns of potential trade barriers related to human rights, low carbon certification, and energy efficiency certifications. Chinese companies signed 180 new photovoltaic power projects overseas totaling $17.16 billion in 2023. Mainland China is expected to add about 172 gigawatts of new installations in 2024, accounting for over a third of the global total.
#ChineseSolarPowerIndustry #UsPressure #Overcapacity #TradeBarriers #Exports #PhotovoltaicPowerProjects
China-brokered Iran-Saudi peace dividend brings rare exhibits to Palace Museum
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Beijing's Palace Museum is hosting two exhibitions featuring hundreds of Iranian and Saudi Arabian artifacts rarely seen in the West. The exhibitions are likely a result of Chinese President Xi Jinping's culture-focused diplomatic initiative, the Global Civilisation Initiative (GCI), which aims to enhance exchanges and understanding between cultures. The relics on display reflect China's growing willingness to organize exhibitions outside Western mediation. The exhibitions examine the intertwined histories of Islam and ancient China through the exchange of goods and cultures along the Silk Road. Many of the relics cannot be displayed elsewhere due to US sanctions on Iran and Saudi Arabia. The exhibitions serve to boost China's modern ties with the Middle East and have educational value. Cultural exchanges can deepen bilateral cooperation and facilitate more complex economic and diplomatic agreements. The exhibitions are part of a larger historical process of the Global South becoming culturally confident in their roots and organizing exhibitions about their own histories and civilizations. Culture has played a role in China's diplomatic outreach since the early days of the People's Republic. Visitors find the exhibitions up to the standards of the Palace Museum and valuable for understanding the region's ancient history.
#China #Iran #SaudiArabia #Exhibitions #CulturalExchanges #Artifacts #Diplomacy #GlobalSouth #SilkRoad
Mark Newnham ready for Conghua challenge as he takes aim at Sha Tin
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Trainer Mark Newnham, along with Cody Mo Wai-kit and Manfred Man Ka-leung, has been named as one of the latest dual-site trainers in Hong Kong. Newnham believes that the ability to travel horses up to Conghua's training facility will improve results for his 51-strong stable. He sees the facility as a great addition to his training and a useful option for horses, especially mid-preparation and between runs. Newnham's horses will have the opportunity to recover away from the hustle and bustle of Sha Tin. Trainers with dual-site operations have a maximum stable cap of 70 horses, compared to 60 for trainers based solely at Sha Tin. However, dual-site trainers have higher performance criteria to meet. Newnham, Mo, and Man will have horses stabled at Conghua for the final three months of the season but will not have to meet the dual-site performance criteria this term. Newnham is currently 16th in the trainers' championship with 17 victories. He has opted for a patient approach to his training program and expects to get more numbers on the board in the second half of the season. Newnham will send six runners to Sha Tin on Sunday, with Talents Ambition and Crazy Treasure being his most likely winners.
#MarkNewnham #Conghua #ShaTin #HorseRacing #DualsiteTrainers
Mark Newnham ready for Conghua challenge as he takes aim at Sha Tin
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Trainer Mark Newnham, along with Cody Mo Wai-kit and Manfred Man Ka-leung, has been named as one of the latest dual-site trainers in Hong Kong. Newnham believes that the ability to travel horses up to Conghua's training facility will improve results for his 51-strong stable. He sees the facility as a great addition to his training and a useful option for horses, especially mid-preparation and between runs. Newnham's horses will have the opportunity to recover away from the hustle and bustle of Sha Tin. Trainers with dual-site operations have a maximum stable cap of 70 horses, compared to 60 for trainers based solely at Sha Tin. However, dual-site trainers have higher performance criteria to meet. Newnham, Mo, and Man will have horses stabled at Conghua for the final three months of the season but will not have to meet the dual-site performance criteria this term. Newnham is currently 16th in the trainers' championship with 17 victories. He has opted for a patient approach to his training program and expects to get more numbers on the board in the second half of the season. Newnham will send six runners to Sha Tin on Sunday, with Talents Ambition and Crazy Treasure being his most likely winners.
#MarkNewnham #Conghua #ShaTin #HorseRacing #DualsiteTrainers
Hong Kong court delays hospitalised elderly woman’s appearance for murder case
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Cheng Ying-lee, a 71-year-old woman, accused of murdering her husband, Edward Cheng, is unable to attend court due to being hospitalized. The court appearance has been delayed until April 5 or until she is discharged from the hospital. The alleged murder took place at their residence on Beacon Hill Road. The couple's domestic helper found Edward Cheng dead on a bed with tape covering his mouth and nose. Cheng Ying-lee was discovered unconscious near the bed with cut wounds to her neck and hand. She remains in stable condition at Princess Margaret Hospital. The Kowloon City district crime squad is investigating the case.
#HongKong #MurderCase #ElderlyWoman #Hospitalized #CourtAppearance
Hong Kong authorities ‘pragmatic’ about waste levy launch ahead of trial run
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Hong Kong authorities are taking a “pragmatic” attitude to the citywide launch date for a controversial waste-charging policy. Secretary for Environment and Ecology Tse Chin-wan said the government must be prudent about its launch of the pay-as-you-throw scheme, which has met with a highly polarised public response. The scheme has been delayed twice already and now aims to be rolled out citywide on August 1 following the trial run, which starts on Monday. Authorities are facing mounting calls from the public to delay the plan or even scrap it for good over concerns such as residents’ unpreparedness, its complexity and the city’s inexperience with waste charging, garbage collection and recycling.
#WasteLevy #PayasyouthrowScheme #TrialRun #HongKongAuthorities #EnvironmentalPolicy
China’s new rules for finance pull the brakes on gravy train, bringing ‘greed is good’ era to a halt
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China's financial sector is undergoing profound changes as new regulations challenge the capitalist principle of profit-seeking first. President Xi Jinping's goal to make China a 'financial superpower' has led to a shift in priorities, with banks being instructed to serve national strategies and tailor services to businesses and sectors they would have snubbed in the past. Pay cuts and lower incomes have replaced the lavish lifestyles once enjoyed by bankers. The government has outlined specific areas that banks must focus on, including science and technology, the green economy, inclusive finance, care for the elderly, and the digital economy. However, some analysts warn that Beijing's top-down approach may stifle competition and kill incentives in the financial sector.
#China #Finance #Regulations #Banking #Economy
US to put new visa limits on Hong Kong officials following Article 23
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The US is preparing to impose new visa restrictions on Hong Kong officials responsible for the crackdown on rights and freedoms. Secretary of State Antony Blinken stated that Hong Kong will not receive special consideration under US law. The new restrictions are tied to the US Hong Kong Policy Act and will be implemented within the scope of the US Immigration and Nationality Act. The State Department has not specified when the 2024 report will be released or which officials will be subject to sanctions. In December, the House Select Committee on the Communist Party urged Blinken to impose sanctions on Hong Kong and mainland Chinese officials involved in issuing arrest warrants and bounties on activists and opposition figures. The Hong Kong government has previously arrested opposition figures and issued bounties for their arrest. In May 2020, then Secretary of State Mike Pompeo declared that Hong Kong was no longer autonomous, leading to the imposition of sanctions.
#Us #HongKong #VisaRestrictions #Article23 #AntonyBlinken
Hong Kong firms hail Malaysia as ‘go-to place’ for AI, e-commerce development
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Hong Kong companies are hailing Malaysia as 'a go-to place' for artificial intelligence (AI) and e-commerce development. Muzambli Markam, the Malaysian consul general in Hong Kong, expressed confidence that Malaysian firms would not shy away from business in the city following the enactment of the domestic national security law. Malaysia is among the Association of Southeast Asian Nations (ASEAN) and was Hong Kong's second-largest trading partner in 2022. Lien Huiluen, deputy general manager of SenseTime Hong Kong, described Malaysia as 'ripe' for an AI transformation. Some Hong Kong businesses have moved key facilities out of Hong Kong to mitigate risks introduced by the national security law. Hong Kong's Chief Executive John Lee Ka-chiu announced plans to open an economic and trade office in Kuala Lumpur. Hong Kong signed eleven deals with Malaysia, including a railway and property deal for a rapid transit project.
#HongKong #Malaysia #Ai #Ecommerce #NationalSecurityLaw #Trade #Asean
Hong Kong stocks rebound as Xi strikes upbeat tone on China’s economy
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Hong Kong stocks rebounded as President Xi Jinping met with US business leaders, pledging more policy support to improve the business environment in China. The Hang Seng Index added 0.2% to 16,426.49, while the Hang Seng Tech Index gained 1.6%. Home appliances maker Haier Smart Home shares rose 5.3% after posting better-than-estimated full-year results. Industrial and Commercial Bank of China fell 2.3% after reporting sluggish earnings. Xi dismissed narratives of China's economy collapsing or reaching its peak and vowed to create broader room for foreign businesses. Four companies made their trading debuts, with Fujing Holdings surging 104% and Lianlian DigiTech dropping 5.9%.
#HongKongStocks #XiJinping #China'sEconomy #UsBusinessLeaders #CorporateEarnings
Universal Music fires staff in Hong Kong as part of global restructuring
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Universal Music Hong Kong, home to Cantopop legends Jacky Cheung and Eason Chan, has fired eight personnel from the publicity department as part of a global restructuring exercise by its US parent company, Universal Music Group. The lay-offs came without prior warning and were a shock to the firm and its stars. Universal Music Group announced in February its intention to generate $270 million in annual cost savings through headcount reduction and other operational efficiencies. The company did not disclose the total number of employees affected by the restructuring. The sudden lay-offs may potentially affect the concert schedules of artists such as Jacky Cheung and Eason Chan. Record labels are shifting their promotional strategies to focus more on digital platforms, as streaming platforms pose global competition and audiences are exposed to a wider range of content.
#UniversalMusic #HongKong #Cantopop #Restructuring #Layoffs #JackyCheung #EasonChan
Australia’s ‘earless dragon’ faces extinction due to climate change
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Australia’s grassland earless dragon, a critically endangered species, is facing extinction due to climate change and habitat destruction. In 2019, scientists counted hundreds of grassland earless dragons in the wild, but this year they found only 11. The lizard, which measures about the size of a US$1 bill when fully grown, lacks an external ear opening and functional eardrum. Australia has four species of earless dragons, with three being critically endangered and the fourth being endangered. Without conservation efforts, the critically endangered dragons are likely to be extinct in the next 20 years. Climate change, invasive plants and animals, and habitat destruction have pushed Australia’s native species to the brink, with about 100 unique flora and fauna species being wiped off the planet in the past 300 years. To save the earless dragons, breeding programs are underway across Australia, including a bio-secure facility in Canberra. The biggest challenge is matchmaking, as female lizards prefer to choose their mates. Scientists must introduce different male lizards to the female until she approves. Genetic analysis is also used to ensure genetic diversity in their offspring. Australia’s alpine grasslands could look vastly different without the lizards, as they play an important role in managing invertebrate populations and aerating the soil. It is important to protect their habitats to ensure the survival of the newly saved lizards.
#Australia #EndangeredSpecies #ClimateChange #HabitatDestruction #Conservation
What to catch during Art Basel Hong Kong – from epic installations to M+ Facade
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Art Basel Hong Kong 2024 features Insights sector with exceptional historical material, Encounters with off-site installation at Pacific Place by Daniel Boyd, and Kabinett with more galleries than ever before. The show has 242 galleries from 40 countries and territories. China has returned to being the second-largest art market globally. Sales in China increased by 9% to an estimated US$12.2 billion. Art Basel Hong Kong showcases exceptional art from across Asia-Pacific. The fair has curated sections like Insights, Encounters, and Kabinett. The Conversations and Film programs are free to the public. The art community in Hong Kong has grown exponentially over the last decade. Hong Kong remains the pre-eminent hub for the art trade in Asia.
#ArtBaselHongKong #ArtFair #Galleries #ArtMarket #Asiapacific
Hong Kong’s TVB reduces losses by 5.5% to HK$763 million
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Hong Kong’s biggest free-to-air broadcaster, TVB, reduced its net loss by 5.5% year on year to HK$763 million in 2023. This marks the sixth consecutive year of losses for TVB. The company attributed the reduction in losses to cost-cutting measures amid a sluggish advertising market. TVB's total revenue, excluding e-commerce businesses, increased by 4% to HK$2.83 billion, driven by revenue growth in Hong Kong TV broadcasting and mainland China operations. However, e-commerce revenue shrank by 44% to HK$486 million due to a weak retail market and shifts in consumer habits. TVB implemented cost-cutting efforts, including layoffs, resulting in a 13% drop in headcount to 3,496 employees. TVB chairman Thomas Hui To expressed cautious optimism for the growth and recovery of the Hong Kong TV broadcasting business segment in 2024. The company expects to achieve positive Ebitda over the whole year of 2024 by optimizing its cost structure and closely monitoring content costs and general and administrative overheads. TVB experienced a strong recovery in its mainland Chinese operations in the second half of 2023 due to co-productions and dramas produced or aired under a deal with platforms Youku and Tencent Video. TVB has faced challenges such as plummeting viewer numbers and advertising revenues, exacerbated by the Covid-19 pandemic and issues stemming from the 2019 anti-government protests. However, TVB may benefit from Alibaba Group's plan to invest at least HK$5 billion in Hong Kong's culture and film industries over the next five years. TVB will continue to work with Youku to produce TV dramas and is set to release dramas such as Forensic Heroes VI: Redemption, Darkside of the Moon, The Queen of Castle, and The Queen of News 2.
#Tvb #HongKong #FinancialResults #Costcutting #RevenueGrowth #Layoffs #Ebitda #MainlandChina #AlibabaGroup #CultureAndFilmIndustries #Youku #TvDramas