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Netflix buys rights to another show from Alibaba’s Youku in bid to reach Chinese diaspora

Netflix is acquiring the rights to another show from Alibaba Group Holding’s Youku video service, stepping up efforts to serve Chinese-speaking viewers around the world.The US streaming video giant purchased the rights to a romantic comedy called I Hear You. Netflix will stream 24 episodes of the show in 190 countries and regions from May 15, Alibaba said in a statement. Financial terms were not disclosed.Netflix has been investing in Chinese-language programming for distribution outside China,… Source link

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Singapore 

Penang official suggests Malaysia make Unesco bid without Singapore whose hawker culture is not ‘so authentic’, Singapore News

GEORGE TOWN – A Penang official who called on Malaysia to rope in Singapore to seek Unesco recognition for hawker culture is now suggesting that his country make the bid alone. Penang’s Tourism Development and Heritage Committee chairman Yeoh Soon Hin told reporters on Thursday (May 9) that Singapore hawker fare is not “so authentic” as every hawker stall is under the government’s control, Malay Mail reported. “From my perspective, we should submit a nomination for Malaysia’s hawker culture to include other states such as Ipoh, Melaka and Kuala Lumpur,…

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Developers rush to bid for Kai Tak’s latest residential land plot as bull market returns to Hong Kong’s real estate

Developers submitted seven bids for the third-largest residential plot at Hong Kong’s former Kai Tak airport, as April sales data showed home transactions jumping by 52.8 per cent from March, in a clear sign of the bull market’s return to the world’s most expensive city.Kai Tak’s Area 4C Site 2, a sliver of land sitting on the former Kai Tak runway, can yield 641,168 square feet (59,566 square metres) of gross floor area. It is valued at HK$11.5 billion (US$1.47 billion), or HK$18,000 per… Source link

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Old is gold as Chinese firms target Hong Kong buildings older than 50 years for redevelopment in bid to cut costs, boost margins

The number of compulsory auctions in Hong Kong has risen since last year, as land acquired through this route is cheaper than plots bought through government tender.“The main reason is that the land offered [for tender] by the government has a high value at several billion. A project can often cost about HK$10 billion, taking construction costs into account,” said Charles Chan, managing director of valuation and professional services at Savills. “In contrast, the development cost of projects … Source link

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Consortium of three developers wins bid for priciest land plot in Lohas Park, signalling bullishness on outlook

A consortium made up of Sino Land Company, K. Wah International Holdings and China Merchants Land beat out 10 rival bids to win the latest phase of the Lohas Park development, the project that could fetch the highest new flat prices in the community, the MTR Corp said on Thursday.“The winning developers have great experience in residential property development and sales,” said Thomas Lam, executive director of Knight Frank. “In the long term, the supply of residential land at MTR stations is… Source link

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China 

FCC set to block China Mobile bid to provide US services, marking another hot spot in trade war

Federal Communications Commission chairman Ajit Pai said on Wednesday he opposes China Mobile’s bid to provide US telecommunications services, citing security risks, and said the commission will vote on whether to deny the company’s application in May.China Mobile is seeking approval to provide services for phone calls between the United States and other countries. It is not seeking approval to provide wireless services to US consumers.According to the FCC, China Mobile USA, which filed the… Source link

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New law gives Hongkongers tax break of US$7,650 in a bid to boost their inadequate pension savings

Hong Kong’s lawmakers unanimously passed an amended law on Wednesday that allows up to HK$60,000 (US$7,650) in tax deductions in a bid to encourage more voluntary retirement savings in pension schemes and address the shortfall.The change comes into effect on April 1 and taxpayers will be able to claim the deduction on their tax returns in the new financial year.“The tax law change is aimed at encouraging more people to better prepare for their retirement,” said Wong Ting-kwong, a lawmaker from… Source link

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Tencent to consider bid for US$3 billion AS Watson stake, as rival Alibaba shows interest

Chinese internet giant Tencent Holdings is weighing a bid for part of Temasek Holdings’ stake in global retailer AS Watson Group, people with knowledge of the matter said.The Singapore state investment company is considering selling around a 10 per cent stake in the world’s largest health and beauty retail group for about US$3 billion, according to the people, who asked not to be identified because the information is private. That is just under half of its 25 per cent holding.Shenzhen-based… Source link

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Huawei slaps US government with lawsuit in bid to overturn federal ban on its gear

Chinese telecommunications equipment manufacturer Huawei Technologies has filed a lawsuit against the US government in a bid to overturn the US federal ban on its gear, the company said on Thursday in Shenzhen.The lawsuit was filed in the US District Court in Plano, Texas, where Huawei’s US headquarters are located. The company is arguing that the federal ban is unconstitutional, as it singles out a person or a group for punishment without trial.“This ban not only is unlawful, but also… Source link

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Beijing demands 30 per cent increase in banks’ lending to small companies in bid to boost flagging economy

The Chinese government has set a mandatory target for the country’s commercial banks to increase lending to small companies by 30 per cent, as Beijing pushes to bolster opportunities for private firms to stimulate an economy that is slowing amid a trade war with the United States.Beijing will “make solid efforts” to solve the funding difficulties facing many companies, Chinese Premier Li Keqiang said on Tuesday during his 2019 government work report. State-owned large banks must boost their… Source link

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