Author: admin

The Hong Kong operations would serve as a strategic base for the Beijing-based carmaker to “oversee its research and development [R&D], intellectual property management and international supply chain functions”, said InvestHK, the Hong Kong government’s investment promotion arm, in a statement on Thursday.Li Auto, one of the few profitable EV makers in mainland China, is the latest car company to set up operations in the city, which is increasingly viewed as a stepping stone for their global ambitions.Domestic rivals such as BYD, the world’s largest EV builder, and Zeekr, a unit of Geely Auto, sell their smart EVs in Hong…

The Hong Kong operations would serve as a strategic base for the Beijing-based carmaker to “oversee its research and development [R&D], intellectual property management and international supply chain functions”, said InvestHK, the Hong Kong government’s investment promotion arm, in a statement on Thursday.Li Auto, one of the few profitable EV makers in mainland China, is the latest car company to set up operations in the city, which is increasingly viewed as a stepping stone for their global ambitions.Domestic rivals such as BYD, the world’s largest EV builder, and Zeekr, a unit of Geely Auto, sell their smart EVs in Hong…

Hong Kong FinTech Week 2025 in November aims to be an all-in-one marketplace for global cutting-edge technologies, with international buyers from areas including the Middle East and Global South coming to the city to shop for opportunities, according to senior InvestHK officials.Last year’s event was almost like a “study trip” for some delegations, according to King Leung, head of financial services and fintech at the government agency, which is responsible for attracting foreign direct investment to Hong Kong.“This year, there are some really serious buyers coming over,” he said in an interview. “They are coming prepared. We expect some action…

KARACHI: Reko Diq Mining Company (RDMC), operated by Barrick Mining Corporation, hosted a delegation from the Quetta Chamber of Commerce and Industry (QCCI) to discuss opportunities for collaboration and local business participation in the Reko Diq project. The delegation was led by President Muhammad Ayub and Vice President Nasir Khan, accompanied by prominent businessmen from across Balochistan. Welcoming the delegation, RDMC Country Manager, Zarrar Jamali, briefed the visitors on the scale and potential of the Reko Diq project, emphasizing its transformative impact on Balochistan’s and Pakistan’s mining sector. He noted that RDMC actively engages with potential vendors and suppliers from…

BEIJING: Chinese state media on Thursday issued a seven-point rebuttal to US calls for Beijing to wind back its rare earth controls, as both sides struggle to move beyond a volley of barbs and accusations of blindsiding the other. US Trade Representative Jamieson Greer on Wednesday called China’s new rare earth export restrictions “a global supply-chain power grab,” and suggested Beijing could stave off President Donald Trump’s threat to reimpose triple-digit tariffs on Chinese goods by shelving the measures set to take effect on November 8. Beijing maintains it not only notified Washington before announcing the new licensing regime, but…

WASHINGTON: International Monetary Fund chief Kristalina Georgieva on Thursday urged member countries to keep trade as an engine of growth for the world economy despite President Donald Trump’s steep new tariffs, warning that a larger-scale trade war could have negative consequences. Georgieva, speaking to reporters at the annual meetings of the IMF and World Bank, mapped out a sober view of a global economy that was doing better than feared when IMF and World Bank members last gathered in Washington in April, but still faced many risks, including inflation, high debt and growing unrest in countries around the world. The…

ISLAMABAD: Finance Minister Muhammad Aurangzeb has met with his Saudi counterpart Mohammed Al-Jadaan in Washington DC and briefed him on the privatization of the state-owned Pakistan International Airlines (PIA) and airports as Islamabad seeks “strategic investments,” the finance ministry said on Thursday. The meeting between Aurangzeb and the Saudi finance minister took place on the sidelines of the World Bank and International Monetary Fund (IMF) annual meetings, where he has held a number of engagements with finance officials and business leaders from various countries and institutions. The cash-strapped South Asian nation is looking to privatize the debt-ridden PIA to raise…

KARACHI: The Karachi Chamber of Commerce & Industry (KCCI), along with seven industrial associations and textile exporters’ bodies, has expressed deep concerns over exorbitant and retrospective gas bills, urging Prime Minister Shehbaz Sharif and energy ministers to intervene in what they described as an anti-industry move that could halt production, damage exports and push Pakistan toward import reliance. Addressing a joint press conference at KCCI on Thursday, the business leaders appealed to the government to immediately freeze the controversial levy retrospectively charged for four months, which has raised gas bills from millions to tens of millions of rupees, an impossible…

A top biomedical scientist has left the United States for China following cuts to US$8.3 million in grants from the National Institutes of Health (NIH) that funded his research projects.After studying and working in the US for 22 years, Hu “Tony” Ye, who held the prestigious chair professor position at Tulane University in New Orleans, left to take on the role of founding dean at the new school of biomedical engineering at his alma mater, Tsinghua University.Hu has long focused on the rapid detection of viruses, publishing numerous papers in top-tier journals and serving as the associate editor of ACS…

WASHINGTON (AP) — President Donald Trump is set to host Ukrainian President Volodymyr Zelenskyy for talks at the White House on Friday, with the U.S. leader signaling he’s not ready to agree to sell Kyiv a long-range missile system that the Ukrainians say they desperately need.Zelenskyy gets his one-on-one with Trump a day after the U.S. president and Russian President Vladimir Putin held a lengthy phone call to discuss the conflict. In recent days, Trump had shown openness to selling Ukraine long-range Tomahawk cruise missiles, even as Putin warned that such a move would further strain the U.S.-Russian relationship.But following…