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Straits Times
3 days ago
- Business
- Straits Times
Slovak central bank chief Kazimir should not get another term, prime minister says
FILE PHOTO: Petr Kazimir, when Slovakia's Finance Minister, attends the Asian Financial Forum in Hong Kong, China January 15, 2018. REUTERS/Bobby Yip/File Photo Slovak central bank chief Kazimir should not get another term, prime minister says Slovak central bank governor and European Central Bank policymaker Peter Kazimir is not the right candidate to get another six-year term and the country's main ruling party will not back him, Prime Minister Robert Fico said. Kazimir was finance minister for Fico's SMER-SSD party in 2012-2019 but was close to Peter Pellegrini, who led a group that split away to form a new party called Hlas-SD in 2020. The two parties came together to form a government in 2023, but Fico has been at odds with Kazimir due to the party split. Kazimir, who's term as central bank governor expired on Sunday, was sentenced on Thursday to a 200,000 euro ($226,940) fine for bribery. The central bank chief, who has denied wrongdoing, has rejected the verdict and said he would appeal to a higher court. Fico, speaking at a news conference on Sunday, said he had labelled Kazimir as a "political traitor" because of his disloyalty to the SMER-SSD party not because of his conviction in the bribery case. Fico said he respected the right of coalition partner Hlas-SD to nominate the governor, under their coalition agreements. "I think that we have the right as a party (SMER-SSD) that will be important in the vote, to say if this person suits it or not," Fico said. "And we have a number of principal reasons that make us say that Peter Kazimir is not the right candidate for NBS governor. Hlas-SD must come up with someone else," he said. Slovak central bank chiefs are nominated by the government, approved by parliament and appointed by the president. Fico has criticised the judge over the Kazimir bribery ruling. The court has declined to comment. Under Slovak law, Kazimir can remain a governor unless there is a final conviction of a crime. He also stays in his post past the end of his term until a new governor is appointed. Kazimir has not said publicly if he was seeking a second term. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
NZ Herald
13-05-2025
- Business
- NZ Herald
Capital Markets: AI levelling the investment field
Tim McCready says artificial intelligence could help democratise investing. THREE KEY FACTS Artificial intelligence is fast becoming one of the most powerful forces reshaping global finance. At the annual Asian Financial Forum held earlier this year in Hong Kong, leading industry voices painted a picture of a very near financial future driven by artificial intelligence (AI), where algorithms are
RTHK
07-05-2025
- Business
- RTHK
More Middle East buyers are coming to HK, says TDC
More Middle East buyers are coming to HK, says TDC Peter Lam says the TDC's offices in Dubai and Riyadh have been helping Hong Kong firms connect with businesses over there. Photo: RTHK The Trade Development Council (TDC) said it has been working non-stop to foster trade between Hong Kong and the Middle East, noting that firms from both regions are keen to diversify portfolios and seek new areas of growth. Council chairman Peter Lam will be visiting Qatar and Kuwait this weekend as part of a 50-strong delegation led by Chief Executive John Lee aimed at exploring investment opportunities. Lam was also on the government-led delegation to Saudi Arabia and the United Arab Emirates in 2023. "Since that trip, the TDC's work has never stopped, as we continued to organise exhibitions and conferences," he told RTHK in an interview. "During the Belt and Road Summit as well as the Asian Financial Forum, we hosted dedicated sessions to help Hong Kong enterprises connect with their Middle Eastern counterparts." Lam said he was fully confident about the SAR's future cooperative efforts with the Middle East, noting that there had been a significant increase in the number of buyers and participants from the region at TDC trade shows. Hong Kong startups, on the other hand, can utilise their expertise in innovation and technology, smart city development and green energy, he said. The TDC's offices in Dubai and Riyadh will continue to provide assistance for SAR firms wishing to establish a foothold in the Middle East and North African region, Lam promised. A businessman himself, Lam is concluding his six-year stint as TDC chairman at the end of this month. Looking back, he was pleased with the SAR's solid progress after Covid-19. "For the past few years, Hong Kong has recorded growth not just in the number of exhibitions but also attendees," Lam said, adding that he's learnt a lot during his time with the statutory body.
Associated Press
20-02-2025
- Business
- Associated Press
HKTDC Strengthens Local Competitiveness and Global Connections
- Driving innovation, nurturing a new generation of SMEs - reinforcing Hong Kong's role as a resilient international business hub HONG KONG - February 20, 2025 ( NEWMEDIAWIRE) - The Hong Kong Trade Development Council (HKTDC) today announced its work focus for the 2025/26 fiscal year, which aims to strengthen Hong Kong's competitive advantages and intensify efforts to promote Hong Kong as a resilient international business hub. Embracing opportunities arising from global development trends, the HKTDC continues to create new opportunities for Hong Kong businesses. HKTDC Chairman Dr Peter K N Lam said: 'Just two months into 2025, the HKTDC has already held a number of major events, such as the Asian Financial Forum (AFF) in January and three trade fairs, which attracted strong participation from attendees, buyers and exhibitors from around the world, a herald of a year of vibrant business activity. 'Looking ahead, the HKTDC will strengthen Hong Kong's role as a resilient and connected international business hub, intensify efforts to promote our city's advantages to the global business community and promote further integration of Hong Kong into the national development framework, which highlighting Hong Kong's unique role in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). Furthermore, we will drive innovation and sustainable development to enhance Hong Kong's competitiveness, and nurture a new generation of SMEs and start-ups.' In 2024, the HKTDC hosted over 40 large-scale exhibitions and conferences in Hong Kong, attracting buyers, exhibitors and attendees from over 190 countries and regions, further solidifying Hong Kong's position as the premier hub for exhibitions and conferences in Asia. Particularly noteworthy was the increased participation from Mainland China and emerging markets, such as ASEAN and the Middle East, as well as the traditional markets of Europe and North America, with all showing robust growth compared to 2023. In the 2025/26 fiscal year, the HKTDC will intensify efforts to actively promote Hong Kong's advantages and opportunities to Mainland China and the global business community, further solidifying Hong Kong's crucial role as a key global hub for two-way investment and trade. HKTDC's 2025/2026 major work focuses are: 1. Reinforce Hong Kong's unique role as a resilient and connected business hub globally, and strengthen its integration into national development and role as superconnector and super value-adder Strengthen Hong Kong's integration into national development - Stage targeted fundraising salons in Mainland China to entice mainland enterprises to list in Hong Kong; - Organise the second edition of the Hong Kong Shopping Festival in August and launch the E-Commerce Express to help SMEs deepen their understanding of mainland e-commerce and online platforms through a series of specialised training seminars and one-on-one advisory services; - Active participation in mainland fairs, including setting up Hong Kong Image Pavilions at key mainland expos to promote Hong Kong's advantages; organising a Hong Kong Day networking event at the China International Import Expo targeting key buyers and enriching the Style Hong Kong Pavilion offerings at the China International Consumer Products Expo to create more collaboration opportunities. - Organise sectoral outbound missions: 1) A GoGBA mission to Dongguan will be organised to help SMEs in the food processing and medical devices sectors to stay competitive amid an evolving manufacturing landscape with innovative technologies; 2) An e-tailing mission to e-commerce hotspot Zhejiang to help SMEs understand the latest developments; and 3) A Fashion Go Places mission to Guangzhou and Dongguan to connect Hong Kong fashion industry players with partners in fashion tech and beyond. Reinforce Hong Kong's role as superconnector and super value-adder - Build partnerships with Regional Comprehensive Economic Partnership (RCEP) government agencies and industry multipliers to attract more RCEP businesses to leverage HKTDC trade fairs to connect with international buyers; - Launch the Hong Kong Risk Management Squad to help mainland and ASEAN companies with plans for global expansion to mitigate business risks; - Introduce the ASEAN Lifestyle Pioneer Series to increase SMEs' market exposure in the region and facilitate opportunities; - Stage Think Business, Think Hong Kong campaign in Italy to spotlight Hong Kong's strengths and advantages, including its service offerings; and - Organise missions, including to: 1) ASEAN to explore opportunities in the food and health supplement industry; and 2) Saudi Arabia and the United Arab Emirates with an Infrastructure Development and Real Estate-related Services (IRES) delegation to capture opportunities arising from infrastructure expansion in the Middle East. 2. Fortify Hong Kong's competitiveness by embracing innovation and sustainable development, to support the national new quality productive forces strategy, and seize opportunities arising from global trends Support the national new quality productive forces strategy - Strengthen the content of and recruitment for exhibitions and conferences: 1) Establish InnoEX as an international I&T exchange platform for Asia; 2) Recruit more agritech and foodtech firms sought after by investors, to join AFF Deal-making; 3) Explore collaboration with local research centres to coorganise thematic sessions at the Asia Summit on Global Health (ASGH) to facilitate industry collaboration; 4) Collaborate with Hong Kong Baptist University's Chinese Medicine Hospital and Belt & Road Alliance for Traditional Chinese Medicine at ASGH to examine Hong Kong's role in Traditional Chinese Medicine's globalisation; 5) Explore opportunities in the low-altitude economy at the Asian Logistics, Maritime and Aviation Conference (ALMAC) and InnoEX; 6) Launch the SmartHK Tech Series to showcase Hong Kong's I&T strengths across the GBA and at mainland I&T fairs; and 7) Focus on PropTech for Building for the Future campaign, especially in the mainland, to highlight Hong Kong's strengths in PropTech and smart city development. - Strengthen connections and collaboration with InnoHK, the Innovation and Technology Commission cluster: 1) Strengthen ties with the Health@InnoHK cluster to better understand their business matching needs and facilitate connections with relevant business partners and investors; 2) Partner with InnoHK research centres, local universities and incubators for the International Trade Fastpass SmartBiz Series to highlight the benefits of adopting innovative tech solutions. Seize opportunities arising from global trends - Sustainable development: 1) Launch the Hong Kong Green Team to highlight Hong Kong's green strengths and capabilities in Hong Kong and ASEAN; 2) Invite sustainable fashion brands to promote circular fashion and a greener industry at CENTRESTAGE; and 3) Work with ESG-related multipliers to provide sustainability workshops and ESG certification courses for Transformation Sandbox (T-box) members. Medical health and the silver economy: 1) Organise biotech missions to Europe and the US in partnership with industry multipliers to help start-ups grow and transform; 2) Invite partners and investors with expertise in geriatric medicine and elderly care to introduce ageing-related innovations at ASGH to facilitate collaboration and tech commercialisation; 3) Enhance the product line-up at Food Expo to showcase healthy food and supplements targeting the silver market; and 4) Create a thematic cluster on Sourcing to further highlight Optical Fair exhibitors targeting the silver market. - Islamic business opportunities: 1) Collaborate with the Incorporated Trustees of the Islamic Community Fund of Hong Kong to feature local halal food manufacturers at Food Expo PRO; 2) Strengthen participation of pavilions of countries with a large halal market to enrich the variety of halal products at Food Expo PRO. 3. Build the next generation of connected and future-ready SMEs and start-ups, and fast-track SMEs' digital transformation Build the next generation of connected and future-ready SMEs and start-ups - Talent matching: Leverage events, such as InnoEX and Entrepreneur Day (E-Day), to offer talent matching sessions for start-ups and I&T companies. - Strengthen collaboration with institutions: 1) Partner with the Hong Kong Productivity Council to inform Global Tech Summit participants about the latest tech in Industry 4.0 and showcase related solutions at E-Day to help SMEs, start-ups become future-ready; 2) Partner with academic institutions and youth and community organisations to engage young individuals at our fairs to equip them with the knowledge and skills in digital transformation and sustainability; 3) Launch the CV Clinic at the Education & Careers Expo by partnering with recruitment agencies to help the younger generation with their job search; and 4) Collaborate with local universities to leverage ASGH for their entrepreneurship events and as a showcase for their biomed projects. Fast-track SMEs' digital transformation - Debut an AI productivity workshop series at InnoEX to help SMEs harness the power of AI tools to boost productivity; - Host dedicated sessions at MarketingPulse and eTailingPulse to educate brands on short video features on the mainland's social media platforms; - Collaborate with leading AI service providers to provide T-box members with practical AI applications. Media enquiries
South China Morning Post
27-01-2025
- Business
- South China Morning Post
Hong Kong's economy to benefit from capital flow, rate cut: ANZ
Beijing's recent measures will lead to more capital flows into Hong Kong equities, becoming a key driver of the city's growth in the Year of the Snake, according to the regional chief economist at ANZ Banking Group. Further interest-rate cuts would increase property transactions, while an influx of tourists would also benefit the city's economy, Raymond Yeung said. 'In the Year of the Snake, Hong Kong's economy is expected to grow between 2.5 and 3 per cent,' Yeung said in a briefing on the outlook for the Lunar New Year starting on January 29. 'The city will see more tailwinds than headwinds in the coming year.' A raft of measures could boost Hong Kong's capital markets and its economy. At the Asian Financial Forum earlier this month, the People's Bank of China (PBOC) governor Pan Gongsheng said Beijing would increase the 'asset allocation operation in Hong Kong' from the nation's US$3.2 trillion foreign exchange reserves. 13:49 Year of the Snake predictions: How will your Chinese zodiac animal fare in 2025? Year of the Snake predictions: How will your Chinese zodiac animal fare in 2025? Pan also said regulators would encourage 'more high-quality enterprises to list and issue bonds in Hong Kong', while plans were afoot to expand the cross-border Bond Connect scheme.
