Latest news with #financial sector
South China Morning Post
3 days ago
- Business
- South China Morning Post
Hong Kong's future lies in being the finance launch pad for tomorrow's tech
For years, Hong Kong's policy narrative has leaned heavily into national security. From the national security law to Article 23 legislation, the emphasis on stability and control has reshaped the city's global identity. But with geopolitical tensions showing signs of stabilising, the moment is ripe for a strategic shift. Advertisement The next global chapter isn't just about containment and scarcity, it is also about creation and abundance. The rise of artificial intelligence (AI) and digital platforms means abundance can be more evenly distributed, turning technological promise into tangible benefits for both urban centres and rural communities. Hong Kong's future lies in becoming a launch pad for the financial engines of the new technology economy for the next generation, from deep-tech funding to AI-powered green finance. Just as steam power revolutionised Britain's industrial landscape, today's equivalents – batteries , nuclear power generation and solar infrastructure – are poised to redefine global growth. These are not niche technologies; they are the backbone of a new era. Battery development is triggering a transformation across supply chains, from rare earth extraction and refinement to mobility and storage solutions. Hong Kong's financial sector should be underwriting this revolution, crafting instruments that support cross-border logistics and deep-tech ventures. Nuclear power, though politically sensitive, is likely to remain essential to clean energy. Small modular reactors are gaining traction globally, and Hong Kong could position itself as a financing and regulatory sandbox – a neutral and welcoming playground for capital and collaboration. Advertisement Solar power , meanwhile, presents a different opportunity. It is the fastest-growing energy source globally, abundant and safe when compared to nuclear, yet free from strong strategic entanglement. As major nations consider industrial policy, they often weigh whether a sector is strategic, profitable and winnable. Solar technology and production is arguably geopolitically frictionless and commercially scalable. Financing this sector is something Hong Kong can do well.
Japan Times
4 days ago
- Business
- Japan Times
Mizuho partners with SoftBank on AI to boost efficiency
Mizuho Financial Group said Friday that it has signed a strategic partnership agreement with SoftBank to introduce cutting-edge artificial intelligence to streamline operations and improve customer service. Mizuho will be the first in the financial sector to introduce "Cristal intelligence," which is being developed jointly by SoftBank and OpenAI, the U.S. developer of the ChatGPT generative AI tool. Mizuho expects the latest AI technology, which optimizes corporate tasks, to help the company increase revenue and cut costs, resulting in positive effects totaling ¥300 billion by fiscal 2030. Using the technology, Mizuho plans to analyze transaction data and market trends to quickly provide corporate customers with management advice. The financial group also expects the technology to help boost productivity in its sales activities more than twofold and reduce low-value operations by up to 50%. Mizuho and SoftBank will also conduct research and development on a large language model dedicated to the financial sector.
Bloomberg
15-07-2025
- Business
- Bloomberg
Singapore Central Bank Sees Slower Financial Sector Growth
Singapore will likely see slower growth in its financial sector in coming years as a confluence of trade and geopolitical tension clouds the economic outlook for the trade-dependent country, according to the central bank. While the sector advanced by 6.8% in 2024, more than double the 3.1% growth reported in the previous year, growth is not expected to 'continue at the pace of the last few years,' Chia Der Jiun, managing director of the Monetary Authority of Singapore, said at the central bank's annual briefing on Tuesday.
Japan Times
14-07-2025
- Business
- Japan Times
Japan core machinery orders down 0.6% in May
Japan's seasonally adjusted core machinery orders in May fell 0.6% from the previous month, the Cabinet Office said Monday. Private-sector orders excluding those for ships and equipment used by power companies, which are closely watched as a leading indicator of corporate capital spending, amounted to ¥913.5 billion. The government kept its basic assessment unchanged, saying that machinery orders are showing signs of picking up. Orders from the automobile and auto parts industries, subject to U.S. President Donald Trump's high tariffs, decreased 7.1% after a 20.3% drop the previous month. The Cabinet Office said that the impact of U.S. tariffs has not been clearly confirmed but that future developments should be closely monitored. Among private-sector orders, those from manufacturers declined 1.8% to ¥448.5 billion, as orders from shipbuilders and chemical makers plunged after jumping on large-scale orders for engines and chemical machinery the previous month. A decline in business-oriented machinery orders, which showed significant growth a month earlier, was also attributed to the decrease in manufacturers' orders. Conversely, core orders from nonmanufacturers increased 1.8% to ¥479.3 billion, driven by higher demand for computers from the financial and insurance sectors. Overall machinery orders, including those from the public sector and overseas, climbed 3.8% to ¥3.09 trillion.
Yahoo
12-07-2025
- Business
- Yahoo
Mid-Cap Banks' Loan Growth May Exceed Expectations, UBS Says
US mid-cap banks' loan growth could surprise to the upside beginning in the second quarter, driven b Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
