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Alibaba to step up cloud computing expansion amid growing global demand

Alibaba Group Holding, China’s biggest e-commerce company, plans to ratchet up the expansion of its cloud computing ecosystem with more strategic partnerships and services, intensifying its global competition with Amazon Web Services (AWS) and Microsoft.Chief technology officer Jeff Zhang Jianfeng, who serves as president of subsidiary Alibaba Cloud, said the new initiative will make the 10-year-old business unit “a more technologically inclusive platform” at the company’s cloud summit in… Source link

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Singapore 

Back by popular demand: Superfan Nas Daily loves Singapore so much he’s relocating here, Singapore News

If you haven’t heard, video creator Nas Daily will return to Singapore – this time to stay for good.  You may know Nas for his 1,000 interesting daily videos and most notably one titled “Why I hate Singapore”.  The news of the move was first announced in an Instagram post today (March 20) by his girlfriend Alyne Tamir, before he posted as well. Explaining how he believes “that this part of Asia might be the new America”, it is part of the deciding factor for the influencer to uproot his media company, which is…

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China needs 30 times its outsourcing capacity to meet demand created by drug pricing reform, says Wuxi Biologics boss

China will need 30 times its current outsourced manufacturing capacity for biological drugs, according to Chris Chen Zhisheng, chief executive of Wuxi Biologics, its largest drugs development and manufacture outsourcing company.“Under the Chinese government’s recent drug pricing reform policies, aimed at driving generic drug makers to put more resources in innovative drugs development, outsourcing demand will rise,” Chen said on Tuesday. “China’s contract outsourcing market is only tiny partly… Source link

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China 

BMW, Mercedes among luxury carmakers to cut prices in mainland China amid weaker demand, lower VAT

A clutch of luxury car brands including Mercedes-Benz, BMW and Volvo have cut the prices of their vehicles in mainland China after the government announced it would lower value-added tax.The price reductions, amid lacklustre sales in the first two months of this year, added to evidence that the world’s largest auto market is grappling with weaker consumer demand after nearly three decades of sizzling growth.Chinese Premier Li Keqiang said last week that Beijing would slash the VAT on… Source link

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Vietnam 

Vinacomin strives to meet increasing demand for coal – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Cọc Sáu coal mine. Việt Nam National Coal – Mineral Industries Holding Corporation Limited is trying to meet the increasing demand for coal. — Photo vinacomin.vn Viet Nam News HÀ NỘI — The Việt Nam National Coal – Mineral Industries Holding Corporation Limited (Vinacomin) had been working to meet the increasing demand for coal for electricity generation and production, Vinacomin’s general director Đặng Thanh Hải said. Vinacomin targeted to reach an output of 4.1 million tonnes of coal in March. Production would be enhanced at open-cast coal mines…

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Vietnam 

High demand from Korea, Japan for Vietnamese fruits, vegetables – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY — With their high demand for agricultural products, South Korea and Japan offer opportunities for Việt Nam to boost export of farm produce, especially fruits and vegetables, Đỗ Quốc Hưng, deputy director general of the Asia-Africa Market Department, has said. South Korea’s farm produce import revenue has soared in recent years, reaching US$35.2 billion last year. He noted, however, that exports of Việt Nam’s farm produce to the South Korean market remained very modest at about $2.14 billion, he said. Hưng…

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China 

China has the largest number of property billionaires, as decades of economic growth fuelled urbanisation and demand for a roof over every head

China has the world’s largest community of property tycoons, as a generation of developers grew wealthy over three decades of rapid economic growth, which fuelled the aspiration to have a roof over every head.The second-largest economy had 108 dollar-denominated billionaires, out of 239 around the world, according to the 2019 Hurun Global Real Estate Rich List. The United States, with an economy that’s one and half times larger, has 26 real estate billionaires, while the UK has 17, and Hong… Source link

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Hong Kong property agents drum up demand for car parking spaces in Greater Bay Area, tout low investment of US$30,000

Hong Kong’s small property agents have found a new investment avenue that has piqued the interest of investors – car parking spaces in the Greater Bay Area (GBA) for as low as 200,000 yuan (US$30,000).“We see a lot of Hong Kong investors would like to capitalise on the property boom in GBA,” said Stephen Sum, an investment consultant at V+ Property, which is focused on GBA. “In order to grab a bigger share of the lucrative market, we have to look for something unique to attract customers… Source link

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Property 

Young expat executives taking shorter secondments in Hong Kong drive demand for serviced apartments

Many of these clients are younger executives – singles or couples, without a larger family – who value the convenience and amenities of centrally-located serviced apartments over the space afforded by a larger home on the southern side of Hong Kong Island (and the associated costs). Luckily for them, the supply of serviced apartments has risen 21 per cent over the past five years, reaching a total of 15,900 units in 2018, according to JLL research. Now, there is a cluster of new serviced apartments cropping up across the city…

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More deals loom in the global hotel industry as supply outpaces demand, says Best Western CEO

A glut in the supply of hotel rooms that has outpaced demand will lead to more mergers and acquisitions in the increasingly competitive industry, according to the head of the Best Western Hotels and Resorts Group.“In the last 10 years, an astonishing number of hotels has been added, and in some countries the demand hasn’t kept up with supply. So you increase the supply by 10 per cent, but has demand grown by 10 per cent? It has not, so it’s far more competitive today,” said David Kong, CEO of……

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