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Popular Chinese hotpot chain sets its sights on US, to open first outlet in New York early next year

Xiaolongkan, one of China’s largest hotpot chains, will open its first shop in the US in early 2020 and add nine more restaurants overseas in the next two years, the latest indication of the Chinese hotpot industry’s global ambition.The Sichuan-based chain is bringing its famous spicy hotpot to New York as soon as the first quarter of next year, company officials said. It has just signed a lease for a 500 square metre space in a new commercial complex named Tangram located in Flushing, also… Source link

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Vietnam 

Aquatic firm sets to withdraw from two sub units – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Fish is processed by workers at Hùng Vương Corporation. — Photo tinnhanhchungkhoan.vn HÀ NỘI — Aquatic producer and exporter Hùng Vương Corporation plans to sell its stake in two smaller seafood processing firms. Hùng Vương wants to sell its 90 per cent stake in Hùng Vương Bến Tre Seafood Processing Co Ltd, worth VNĐ180 billion (US$7.74 million). In addition, the firm plans to cut its ownership in An Giang Fisheries Import and Export JSC to below 50 per cent from nearly 80 per cent. Hùng Vương holds more than…

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HSBC sets up US$880 million technology fund to find the next Tencent, DJI or Huawei in the Greater Bay Area

As companies are looking to cash in on the potential of uniting the infrastructure and development of the Greater Bay Area, HSBC said on Tuesday that it is creating a US$880 million technology fund to provide financing to early stage companies in the region.The GBA+ Technology Fund will focus on lending to high-growth companies in mainland China, Macau and Hong Kong in a variety of sectors, including e-commerce, financial technology (fintech), robotics, biotech and health care technology, HSBC… Source link

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8 Deep Water Bay Drive sets the record for most expensive apartment in Asia

[Sponsored Article] The beauty of exclusivity and tranquility Cradled by the natural beauty of the rich woodland tapestry of low-density southern Hong Kong island, 8 Deep Water Bay Drive is an ode to tranquillity and privacy.  From within, over 80 per cent of the development is devoted to green space. Its 52 spacious apartments offer a dream home to those seeking space to unwind and enjoy mindful living in a serene environment. It is this uniqueness that enabled the development to set the… Source link

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Singapore 

Teenager allegedly sets fire to sofa at Pasir Ris HDB lift lobby; police investigating, Singapore News

SINGAPORE – A teenager is being investigated by the police for allegedly setting fire to a sofa at the lift lobby of a block of Housing Board flats in Pasir Ris. The police said in a statement early on Sunday (May 26) that the 15-year-old boy was suspected to be involved in a case of mischief by fire. On Friday at 5pm, the police were alerted to the fire at the lift lobby on the seventh storey of Block 560 Pasir Ris Street 51. No one was injured. Through ground…

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Hong Kong television broadcaster sets up task force to recover the bond default that pushed it into its first financial loss since 2008

Television Broadcasts Limited (TVB), Hong Kong’s dominant free-to-air terrestrial television provider, said it has set up a task force to recover US$106 million lost through two bonds investments in SMI Holdings.The investments in SMI’s secured and unsecured bonds ended in default, forcing TVB to make a HK$500 million write-off that pushed it into a 2018 loss of HK$199 million (US$25.3 million), its first financial loss since 2008, according to Bloomberg data. Without the impairment, TVB would… Source link

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Vietnam 

Yeah1 sets ‘lowest’ ever growth rate for 2019 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Yeah1 Group holds its annual general meeting in HCM City on Wednesday. —VNS Photo Thu Ngân HCM CITY — Media company Yeah1 Group yesterday announced its 2019 business plans at its annual general meeting, setting a growth target its chief said is the lowest in its history. Chairman Nguyễn Ảnh Nhượng Tống said net revenues are expected to grow by 19 per cent, “the lowest growth target … since the day Yeah1 Group was established.” He admitted business this year has been badly hit after YouTube said SpringMe, in which Yeah1…

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Smartphone maker Xiaomi sets up technical committee to build an engineering culture as it pushes into artificial intelligence

Xiaomi, the world’s fourth-biggest smartphone maker, said it will set up a technical committee comprising 19 members as part of its efforts to transform the company into an artificial intelligence-driven company.Cui Baoqiu, the company’s recently promoted vice-president, is chairman of the committee, which will be responsible for technical strategy, collaboration with governments and universities, recruiting and encouraging tech talent and building an engineer culture in the company, according… Source link

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Vietnam 

Prime Minister sets solutions for international integration – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Foreign tourists take a city tour in Hà Nội during the DPRK-USA Summit in February. The Prime Minister has noted that over the past five years, international integration has helped build a peaceful domestic environment. — VNA/VNS Photo Quang Hải HÀ NỘI — Individuals and businesses alike should be the subject of international integration, Prime Minister Nguyễn Xuân Phúc said during a teleconference on Tuesday. The cause of international integration will only achieve success with constructive and effective participation of all individuals and businesses, the leader said.  He urged…

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Vietnam 

Low-cost carrier Vietjet sets sights high with $1.8b annual profit target – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Shareholders at Vietjet’s annual general shareholders’ meeting held in HCM City on Friday. — VNS Photo HÀ NỘI — Vietjet Aviation Joint Stock Company is aiming for nearly VNĐ42.3 trillion (US$1.8 billion) air transport revenue in 2019, 25 per cent higher than last year’s figure. The company also hopes to earn air transport profit of VNĐ3.8 trillion ($163 million) this year. These targets were announced at the company’s annual general shareholders’ meeting held in HCM City yesterday. This year, Vietjet will focus on international route expansion to promote foreign currency revenue from ticketing, take…

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