Date
20 August 2018

Tech

  • Apple has recently pulled around 25,000 apps from its Chinese store in an effort to cooperate with regulators, according to state media. Photo: Bloomberg

    Apple removes illegal lottery apps from China store

    Aug 20, 2018 6:18pm
    Apple Inc. says it has pulled illegal lottery apps from its App Store in China amid tightening regulation and a barrage of criticism from state media, Reuters reports. According to state media, the company has recently...
  • Investors protest outside an office of P2P lending platform PPMiao in Shanghai on Monday. Photo: Reuters

    Chinese investors stage protest in Shanghai over P2P woes

    Aug 20, 2018 4:07pm
    Investors in Chinese online peer-to-peer (P2P) lending platform PPMiao protested at the offices of one of the company’s shareholders in Shanghai’s financial district on Monday, Reuters reports. At least 243 P2P companies have collapsed in China...
  • App Store has dismantled the long-time dominance of telecom operators, leading to an era of price cuts and unlimited data usage. Photo: Bloomberg

    How App Store changed the software industry

    - Aug 20, 2018 12:54pm
    Apple’s founder Steve Jobs said: “You can’t connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future. You have to...
  • Scott Thiel, a partner at DLA Piper's Hong Kong office, said the fundamental difference between the Europe’s GDPR and other privacy regimes poses a big challenge for multinational firms with large data sets. Photo: Bloomberg, DLA Piper

    Ignore at your own risk: How GDPR impacts China and HK companies

    - Aug 20, 2018 12:52pm
    Europe’s General Data Protection Regulation (GDPR), which came into force on May 25, has been billed as the biggest shake-up of data privacy laws since the birth of the web. With an aim to give citizens...
  • Shares of Tencent have fallen over 6 percent last week and are down by nearly a third from their record high close in January. Photo: Reuters

    Chinese internet stock selloff may shake faith in FANGs

    Aug 20, 2018 7:43am
    A steep downturn in heavyweight Chinese internet stocks and recent weakness in half of the so-called FANG group have some investors worried that a key component of Wall Street’s nearly decade-long rally may be low on...
  • Tesla will have to pay more to fund its growth if it becomes a private company, shareholders say. Photo: HKEJ

    Investors query funding costs at a private Tesla

    Aug 20, 2018 7:24am
    Several Tesla Inc. shareholders have told Reuters they are concerned that the electric car maker will have to pay more to fund its growth if it becomes a private company and loses the ability to sell...
  • Tencent is facing policy headwinds, but its core business remains strong. Photo: Reuters

    Leading technology plays are having a hard time

    - Aug 17, 2018 5:14pm
    Leading technology plays Sunny Optical Technology (Group) Co. Ltd. (02382.HK) and Tencent Holdings (00700.HK) encountered considerable selling pressure following the release of their interim results. While Sunny Optical may face some structural challenges, Tencent should continue...
  • The 'Made in China 2025' plan identifies the production of electric car batteries as an industrial priority. Photo: Reuters

    China seeks global dominance in electric cars

    - Aug 17, 2018 10:31am
    Chinese brands hold a negligible share of the world’s car market. But Beijing plans to change all that for the new generation of electric cars – it wants to be the global leader. The “Made in...
  • JD.com, which is locked in a battle with Alibaba Group in China's e-commerce market, has been in and out of the red for the past year. Photo: Reuters

    JD.com expects warehousing assets to help shore up earnings

    Aug 17, 2018 9:41am
    JD.com, China’s second-largest e-commerce firm, is shifting management of its warehousing assets to a separate unit, a move it hopes will revive profits after it swung back to a loss in April-June, Reuters reports. Executives were quoted as...
  • There has been a lot of argument as to whether cryptocurrency mining actually creates any value. Photo: Reuters

    The moral debate on crypto-mining firms

    - Aug 17, 2018 9:00am
    By offering products or services and creating value, companies are rewarded with profit. This logic applies to almost all businesses. But cryptocurrency mining might be an exception. It’s reported that several leading cryptocurrency miners are planning...
  • HKSTP chairman Sunny Chai said the park aims to increase the number of startups it is incubating from 268 to 500 in five years. Photo: HKEJ/Internet

    HKSTP startups to double to 500 in five years, says new chief

    Aug 16, 2018 4:58pm
    The new chief of Hong Kong Science and Technology Parks Corporation (HKSTP) has set aggressive goals to invigorate the city in the global race for innovation and technology. At a media luncheon on Wednesday, HKSTP chairman Sunny Chai...
  • Drivers of food delivery service Meituan Dianping are seen in Beijing, China, where smartphone users commonly order food delivery and other services via mobile apps. Photo: Reuters

    Meituan-Dianping sees HK listing approval next week: report

    - Aug 16, 2018 3:27pm
    Meituan-Dianping, an online food delivery-to-ticketing services platform, is seeking a listing hearing and approval next week for its planned Hong Kong initial public offering, IFR reports, citing sources familiar with the matter. The Chinese company, which...
  • China's tightening scrutiny on online games threatens to crimp Tencent's business growth. Photo: Bloomberg

    Regulatory risk casts shadow on Tencent game business

    - Aug 16, 2018 1:35pm
    After being on a scorching growth path for many years, Chinese internet giant Tencent Holdings is currently finding itself in a somewhat difficult position as Beijing authorities tighten their oversight on the online games industry. Early...
  • The telecom industry is undergoing profound changes amid intense competition as well as fast-changing technology and market environment. Photo: Xinhua

    Hong Kong’s telecom industry gears up for upcoming 5G era

    - Aug 16, 2018 12:09pm
    A lot seems to be going on in Hong Kong’s telecom industry lately. Hutchison Telecommunications Hong Kong Holdings Limited( 00215.HK) and Hong Kong Telecom (06823.HK) both announced changes at the senior executive level earlier this month....
  • FunNow executives pose for a group picture. The Taipei-based instant booking app for entertainment and leisure activities currently has 500,000 registered members. Photo: FunNow

    Taiwan’s FunNow to expand in SE Asia, Japan after new funding

    - Aug 16, 2018 11:16am
    FunNow, a Taiwan-based startup that offers instant booking services for entertainment and leisure activities, has completed a US$5 million (around HK$39 million) series A funding round as it seeks to enter new markets in Asia. The latest funding...
  • Lenovo reported a net profit of US$77 million for the three months to June, compared with a loss of US$72.3 million in the same period a year earlier. Photo: Reuters

    Lenovo swings to forecast-beating profit

    Aug 16, 2018 9:38am
    Chinese PC maker Lenovo Group swung to a profit and beat estimates in the three months to June, helped by a sharp jump in revenue. Net profit came in at US$77 million for the fiscal first quarter, compared...
  • Uber has cut its losses after retreating from some markets, but still has a long way to go on the path to profitability. Photo: Bloomberg

    Uber narrows loss but still far from profit

    Aug 16, 2018 9:22am
    Uber Technologies, the ride-hailing services firm which aims to go public next year, narrowed its quarterly losses from a year earlier, but appears to be still a long way from turning a profit. The San Francisco-based firm...
  • Google's transparency report now has a section showing who buys US election ads on its platform and how much money is spent on political advertising. Photo: AFP

    Google provides data on US political advertising

    Aug 16, 2018 9:07am
    Google said it has added a section to its twice-yearly transparency report to show who buys US election ads on its platform and how much money is spent on political advertising, Reuters reports. The move follows...
  • The complaint said the mobile service provider was tricked into transferring a subscriber’s phone number to a SIM card controlled by someone else. Photo: Reuters

    US investor sues AT&T for US$224 mln over cryptocurrency loss

    Aug 16, 2018 8:49am
    US entrepreneur and cryptocurrency investor Michael Terpin filed a US$224 million lawsuit against a telecommunications company, accusing it of fraud and gross negligence in connection with the theft of digital currency tokens from his personal account, Reuters...
  • Tesla investors have been on a roller-coaster ride since CEO Elon Musk said last week that he was considering taking the company private. Photo: AFP

    SEC sends subpoenas to Tesla on going-private plan: report

    Aug 16, 2018 8:02am
    The US Securities and Exchange Commission has sent subpoenas to Tesla Inc. regarding chief executive Elon Musk’s plan to take the company private and his statement that funding was “secured”, Fox Business Network reports, citing sources....

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