Archive

Finance Firms Gear up for Transformative Impact of AI on Hong Kong’s Work Landscape

The impact of artificial intelligence (AI) is well recognized in the financial sector with industry professionals showing concerns about job displacement. However, the industry is taking proactive measures to address the transformative impact of AI on work, including enhancing technical

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JCB and GLN Enable Korean Code Payments at Smart Code Merchants in Japan

Japanese international payments firm JCB has partnered with GLN to integrate Korean code payment services into Smart Code merchant locations across Japan by the end of the fiscal year 2023. This integration will enable Korean tourists using services such as

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Bank of China (Hong Kong) Completes First 24 Million Yuan e-CNY Transaction

Bank of China (Hong Kong) (BOCHK) completed an inaugural cross-border transaction using the electronic Chinese Yuan (e-CNY) for a bulk commodity purchase valued at 24 million yuan (approximately HK$26.16 million). The transaction was a joint effort with the Bank of

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Petronas FutureTech Spearheads Startup Advancement in Energy and Beyond

The accelerated energy transition amidst pressing climate concerns has compelled industry players to contribute actionable solutions in driving positive change and sustainable development. Rising up to the challenge, Petronas, a global energy corporation, has significantly expanded its scope beyond traditional

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China to Introduce Blockchain-Based Identity Verification

China is advancing its use of blockchain technology for identity verification, targeting its vast population of 1.4 billion, according to an announcement at a Beijing conference held yesterday. The initiative, known as the Real-Name DID (RealDID) service, is a joint

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JCB, IDEMIA, and Soft Space Advance to Phase 2 in Offline Digital Currency Project

Japanese international payments firm JCB along with French identity technologies company IDEMIA and Malaysian fintech Soft Space will be embarking on the second phase of their “JCB Digital Currency” (JCBDC) pilot project in early 2024. This initiative aims to experiment

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South Korea’s Regulator FSC Excludes NFTs and CBDCs from Crypto Interest Earnings

South Korea’s financial regulator, the Financial Services Commission (FSC), has announced that from July 2024, individuals investing in digital assets will earn interest on their deposits at crypto exchanges. However, this will not apply to non-fungible tokens (NFTs) and central

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SBI Holdings and Aramco Enter MoU for Digital Asset Collaboration

SBI Holdings has entered into a Memorandum of Understanding (MoU) with Aramco, the Saudi Arabia-based global energy corporation. The MoU outlines a potential business alliance between SBI Holdings and Aramco, aiming to explore collaboration in several key areas. These areas

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HKMA Highlights Banks’ Role in Climate Action

At the inaugural Green and Sustainable Banking Conference, organised by the Hong Kong Monetary Authority (HKMA), its Deputy Chief Executive Arthur Yuen shed light on the pressing need for immediate action in response to escalating climate challenges. Highlighting the pivotal

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Klook Raises US$210 Million, Aims to Reinforce AI Integration

Travel and leisure booking platform Klook has closed a US$210 million (HK$1.6 billion) financing round. This capital injection will support product development, particularly in expanding city pass options, and bolster marketing initiatives via the Klook Kreator programme. In partnership with

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