How the National Security Law transformed Hong Kong in one year
HONG KONG -- The first time the Hong Kong government tried to put into law a security bill that would restrict civil liberties, the city's Civil Human Rights Front organized a protest that drew more than 500,000 residents, a stunning turnout that helped force authorities to scrap the plan.
The demonstration took place on July 1, 2003, exactly six years after Britain handed Hong Kong back to China. The protest started a tradition in which the CHRF organized demonstrations every July 1
Hong Kongers get creative to show opposition to security law
HONG KONG -- For the first 23 years after Britain handed Hong Kong back to China, residents of the territory remained free to express their views about the handover, the mainland and much more.
But now, one year after the China-imposed, stringent National Security Law (NSL) took effect, many Hong Kong residents are afraid to raise their voices. While some continue to be outspoken, government actions like those that caused the closure of Apple Daily are discouraging people from speaking up.
"The national security
China's 1-cent masks drive US manufacturers to the brink
WASHINGTON -- American manufacturer Premium-PPE has seen its monthly mask production plunge nearly 90% from last year's peak, falling to 4 million to 5 million.
Idle equipment and piles of unsold merchandise fill its factory in the city of Virginia Beach. Its workforce, once boasting as many as 280 people, has shrunk to about 50. And the company blames cheap imports from China for its reversal of fortune.
"Selling the mask for less than a penny is not possible," said
Chinese EV battery maker Envision to build $2.4bn plant for Renault
SHANGHAI -- Chinese green tech company Envision Group plans to invest 2 billion euros ($2.4 billion) in a battery plant in France to supply Renault Group, underlining how Asian companies are aiming for a major slice of Europe's electric vehicle supply chain.
Envision and the French automaker -- which is in a car making alliance with Japan's Nissan Motor and Mitsubishi Motors -- announced the plans on Monday. Zhang Lei, Envision's founder and chief executive, is due to meet French President
Japan's SMFG to buy 5% stake in Philippine bank RCBC
TOKYO -- Japan's Sumitomo Mitsui Financial Group will invest about 10 billion yen ($90 million) in Rizal Commercial Banking Corp., a Philippines-based commercial banking group, Nikkei has learned. It aims to expand its footprint in Asia and accelerate growth in areas such as digital banking.
Sumitomo Mitsui Banking Corp., SMFG’s main subsidiary bank, plans to acquire approximately 5% of RCBC's outstanding shares. RCBC expects to use the funds to invest in digitalizing its banking operations.
Singapore dangles fintech prize for digital currency ideas
SINGAPORE -- Singapore is challenging fintech companies to pitch ideas to maximize the potential of central bank digital currencies, as countries increasingly look to create next-generation fiat money.
The Monetary Authority of Singapore, the central bank, on Monday said it wants financial technology businesses, financial institutions and other global players to submit suggestions on how to address problems around instruments, distribution and infrastructure for retail CBDCs. They stand to win some cash -- and publicity -- for doing so.
Singapore, one of Asia's key
Huawei should not be forced to make its own semiconductors
Nina Xiang is the founder of China Money Network, a media platform tracking China's venture and tech sectors. She is author of "Red AI: Victories and Warnings From China's Rise in Artificial Intelligence."
Huawei Technologies began building backup systems to prepare for potential U.S. sanctions decades ago. One thing it did not do was build its own fab, otherwise known as a semiconductor fabrication plant or foundry.
This has turned out to be a devastating mistake. After tightening U.S. restrictions
Chinese EV battery maker Envision to build $2.4bn plant for Renault
SHANGHAI -- Chinese green tech company Envision Group -plans to invest 2 billion euros ($2.4 billion) in a battery plant in France to supply Renault Group, underlining how Asian companies are aiming for a major slice of Europe's electric vehicle supply chain.
Envision and the French automaker -- which is in a car making alliance with Japan's Nissan Motor and Mitsubishi Motors -- announced the plans on Monday. Zhang Lei, Envision's founder and chief executive, is due to meet French
Philippine fintech Voyager raises $167m for digital banking push
MANILA -- Philippine fintech company Voyager Innovations said on Monday it has raised $167 million from existing shareholders, including private equity giant KKR and China's Tencent Holdings, to fund its foray into digital banking.
The fresh capital will give the company behind the PayMaya mobile wallet additional firepower as competition heats up in the country's fintech sector, which has seen a boom in cashless transactions and the entry of branchless banks.
Voyager has applied for a digital bank license with the Philippine central bank, which has
Myanmar parallel government woos Rohingya in bid for legitimacy
BANGKOK -- In its quest for international recognition as the legitimate representative of Myanmar, the country's anti-coup shadow government is making a calculated gamble amid a grim political landscape since the February military coup.
The National Unity Government (NUG), a government in exile made up of politicians who won seats in parliament during the November election, generated a sliver of hope of a possible path back to power this month with its groundbreaking position toward the Rohingya, a Muslim minority that has endured decades of Myanmar's