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Why China’s next crop of ‘techpreneurs’ are skipping home and eyeing a fresh gold rush in new markets

During the past decade of breakneck economic growth China has been a gold mine for tech start-ups, with the biggest internet user base in the world of 829 million.But a new wave of Chinese entrepreneurs are now deciding to skip the country in favour of fast-growing markets in Southeast Asia, India, the Middle East and Africa, taking their innovative ideas and cutting edge business models with them.Whether its e-commerce, short video, live broadcasting or gaming – China’s tech experts are… Source link

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Singapore 

Two cars race along CTE during morning rush hour, Singapore News

Two cars were captured on a driver’s dashcam racing on the Central Expressway (CTE) during the morning rush hour. In a video posted on Facebook page Roads.sg yesterday (July 25), a white Porsche was seen racing down the CTE towards Yishun. A Suzuki Swift soon followed, also moving at a high speed but still falling behind the white Porsche. Although traffic was light in that direction, the two cars were seen travelling much faster than others along the same road. According to the time stamp from the driver’s dashcam, the…

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Transsion, Africa’s smartphone king, joins IPO rush on Shanghai’s Nasdaq-style stock market

Transsion Holdings, the Chinese budget smartphone maker that leads sales in Africa, has received approval to go public on Shanghai’s new Nasdaq-style stock market, as the company’s low-cost handsets entice millions of new consumers in the developing world.The Shenzhen-based company, which filed its initial public offering (IPO) application in March, aims to raise up to 3.01 billion yuan (US$437 million) on the Science and Technology Innovation Board, also known as the Star board, according to… Source link

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Vietnam 

Banks rush to issue bonds for long-term capital hike – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Many banks have issued a large amount of bonds to raise capital. — VNA/VNS Photo HÀ NỘI — Local banks have continued issuing a large amount of bonds to raise capital to meet State Bank of Việt Nam (SBV)’s stricter regulations on credit safety limits and capital adequacy. Last week alone saw the Asia Commercial Bank (ACB) and VietinBank announce bond issue plans worth up to VNĐ15.5 trillion (US$665 million). ACB’s board of directors approved a plan to issue two-year and three-year bonds worth VNĐ5.5 trillion, with a maximum interest…

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Hong Kong’s internet banking pioneer says it will stay above the fray in city’s rush to embrace virtual banking

Citigroup, which pioneered internet banking in 1998 in Hong Kong, said its Citibank retail banking unit will remain above the fray in the financial services industry’s rush to get virtual banking licenses in the city.“We can offer all types of online banking services that a virtual bank can offer,” said Angel Ng Yin-yee, Citi’s Hong Kong and Macau chief executive, in an interview with South China Morning Post. “Plus, Citi can offer services at our branches that virtual banks cannot.”The… Source link

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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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Sales of pre-owned homes in Hong Kong surge to eight-year high as panicked buyers rush to beat rising prices

Panic buying of Hong Kong property has extended to the secondary market, with sales of pre-owned apartments surging to an eight-year high of HK$40.3 billion in April.The rise was fuelled by a flurry of activity in established housing estates where flats sold for record prices as buyers scrambled to strike before prices go up any further, according to property analysts.“The strong buying sentiment in the primary market has spilled over to the secondary market. We have seen many transactions in… Source link

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Singapore 

Passers-by rush to save victims in overturned car in Pasir Ris, Singapore News

Two men were taken to hospital on Sunday night after a two-vehicle crash resulted in one of the cars flipping on its roof. The accident happened on Pasir Ris Street 11 in the direction of Pasir Ris Drive 2. A police spokesman told The New Paper that one of the drivers, a 65-year-old, and his passenger, a 31-year-old man, were taken to Changi General Hospital. SMASHED WINDSCREEN A housewife, who wanted to be known only as Madam Lim, 60, told Shin Min Daily News she rushed downstairs after hearing a…

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Chinese start-ups join rush to launch IPOs on Shanghai exchange’s new tech board

China’s upcoming Nasdaq-style market has attracted 89 companies seeking to raise funds through an IPO just a month after the Shanghai Stock Exchange began accepting listing documents.These technology firms plan to raise more than 90 billion yuan (US$13.4 billion), exceeding the 87 billion yuan raised by 57 companies on the Shanghai exchange last year.The companies that have applied to raise funds fall into the categories of basic science, biotechnology, robotics, new materials, aerospace and… Source link

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Vietnam 

Localities rush to adopt smart city technology – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

With the strong development of science and technology, some localities in Việt Nam are in a rush to make changes and become smart cities. — Photo namdinh.gov.vn HÀ NỘI — With the strong development of science and technology, some localities in Việt Nam are in a rush to make changes and become smart cities. According to a United Nations report released in November, the e-government development index of Việt Nam had risen five places in the past…

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