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Terry Gou to step back from ‘front line’ at iPhone assembler Foxconn as it expands into India, AI

Terry Gou Tai-ming, the billionaire founder and chairman of iPhone assembler Foxconn Technology Group, plans to step back from day-to-day operations, making room for younger management to run the world’s largest electronics contract manufacturer.A spokesman for Foxconn, formally known as Hon Hai Precision Industry, said Gou aims to sharpen his focus on the company’s strategic direction, denying earlier reports that he aims to resign or retire.“I’m already 69 years old. I hope to pass down my 45… Source link

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Vietnam 

Vietjet expands international network – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The inaugural ceremony for the commercial launch of Hong Kong – Phú Quốc route. — VNS  Photo HONG KONG — Low-cost carrier Vietjet on Tuesday announced its operation plan for the Hong Kong market and the launch of a new route linking Phú Quốc and Hong Kong, one of Asia’s most well-known destinations. The Phú Quốc – Hong Kong route will operate return flights with a frequency of four flights per week, starting from April 19. With a flight time of two hours and 45 minutes per leg, the flight will…

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Vietnam 

Emerging East Asia bond market expands but concerns persist – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News MANILA — Investor sentiment toward emerging East Asia’s local currency bond markets has improved but there are concerns about financial stability in the region, including ongoing trade conflicts, according to the Asian Development Bank’s (ADB) latest issue of the quarterly Asia Bond Monitor.  At the end of 2018, there were US$13.1 trillion in local currency bonds outstanding in emerging East Asia, 2.4 per cent more than at the end of September 2018 and 11.9 per cent more than at the end of 2017. Yields have…

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Vietnam 

Việt Nam’s credit growth expands 0.77% in two months of 2019 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Việt Nam’s credit growth in the first two months of this year expanded by just 0.77 per cent against the end of 2018, the lowest level in the past few years, reports from the Ministry of Planning and Investment (MPI) showed. The rise in the same period in 2018 and 2017 was nearly 2 per cent.    During the two-month period, mobilised capital rose by 1 per cent, with interest rates tending to rise in the few weeks before the Lunar…

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US certifier expands in Hong Kong as man-made diamonds sparkle among millennials

Diamond grading and certification services provider Gemological Institute of America has opened a new, larger lab in Hong Kong, partly with the aim of differentiating between “lab-grown” stones and those found in nature.The increasing popularity of man-made stones among millennials has stoked demand for services to differentiate these from diamonds found in nature, said Susan Jacques, chief executive of the California-based non-profit organisation.Thomas Moses, executive vice-president as well… Source link

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Vietnam 

Cognex expands presence in ASEAN market, targeting Việt Nam – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News SINGAPORE — Việt Nam was an impressive emerging market with a rapid increase of foreign direct investment (FDI) as well as the appearance of mega-factories in recent years, stimulating technology corporations to expand their presence here. The statement was made by Eric Moon, vice president and head of Asia sales at Cognex Corporation at the launch of its new office on Monday in Singapore. Cognex Corporation is one of the world’s leading suppliers of industrial barcode readers and machine vision. The expansion in…

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Vietnam 

GrabFood expands to more cities – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY — Grab has announced that its food delivery service, GrabFood, will be expanded to 12 more cities and provinces in Việt Nam, taking the total number where it is available to 15. They are Cần Thơ, Quảng Ninh, Hải Phòng, Huế, Nha Trang, Vũng Tàu, Bình Dương, Đồng Nai, Đà Lạt, Phan Thiết, Buôn Ma Thuột, and Hội An. Grabfood said there has been tremendous growth in the use of its app by consumers, merchants and delivery partners, making it the fastest…

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Property 

Chinese developer Greenland Hong Kong expands into China’s US$1.9 trillion aged care sector as property market slumps

Mainland property developer Greenland Hong Kong has set its eyes in major Chinese cities to expand its elderly care services as a way to accelerate the company’s diversification into non-property businesses amid China’s real estate market slump. Hou Guangjun, chief operating officer of the company, told the South China Morning Post that first-tier cities including Beijing, Shanghai, Guangzhou and Shenzhen were targeted as the Hong Kong-listed developer looked to tap the growing demand among the mainland rich for better health care and senior care offerings. “As we move into health…

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China 

EU expands WTO case against China’s alleged forced technology transfers

The European Union expanded its challenge against China at the World Trade Organisation over laws it says force the transfer of technology in areas including electric vehicles and crop seeds. The European Commission, which oversees trade policy in the 28-member European Union, said on Thursday it was significantly broadening and deepening the scope of its World Trade Organisation (WTO) action against China. A European Union official said Brussels had informed its partners of its action, but the challenge was not a joint one. The European Union’s new complaint focuses on…

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Tencent seeks to kill silo culture that gave it WeChat as it expands into AI, big data

Tencent executives have told employees that the company’s silo culture, which helped create its hugely successful WeChat product, will need to change to a more collaborative approach if it is to succeed in the future in areas such as AI and cloud computing. The Shenzhen-based company aims to break up in-house fiefdoms and promote more cooperation across different groups as part of a business restructuring that has set the direction of the company for the next two decades. “It is widely agreed that the current situation of different groups doing…

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