Latest news with #Zong

Straits Times
22-07-2025
- Business
- Straits Times
Wahaha heiress' fight over inheritance with half-siblings sends succession warning
Kelly Zong's delay in setting up trusts worth US$2.1 billion for her half-siblings has prompted them to file a lawsuit. Hong Kong – For decades, Kelly Zong had been known as the only child to her late billionaire father, the founder of China's beverage empire Hangzhou Wahaha Group. His effort to groom her as a successor was hailed as a model for Chinese entrepreneurs during the one-child policy era. But Ms Zong is now grappling with two overlapping legal challenges stemming from unresolved matters left behind by her father – cases that could set a legal precedent for wealth succession in China and cast a shadow over the reputation of mainland China's biggest soft-drinks producer. In a Hong Kong court in July, Ms Zong was asked to help set up three trusts worth US$2.1 billion (S$2.7 billion) for people who identify as her 'half brothers and sister' following what they say were her father's directives. The case has raised eyebrows and lit up on Chinese social media. Her delay in setting up trusts has prompted the three half-siblings - Jacky, Jessie and Jerry Zong - to also file a lawsuit in Hangzhou with similar demands. Their lawyer said that Kelly Zong had agreed in February 2024 to follow an instruction from her father to set up the trusts. But paperwork for the three trusts remains stalled, with no final agreement in place. Ms Kelly Zong's lawyer argued that the handwritten instructions were not addressed to her, and that it's unclear where the funding to cover a US$300 million (S$384 million) shortfall would come from. 'We agreed to set up the trusts from the start, but only on the condition that the trust assets would be clearly defined,' the lawyer said. Top stories Swipe. Select. Stay informed. World Trump 'caught off guard' by Israel's strikes in Syria Opinion Singapore's vaping crisis lays bare the drug addiction nightmare for parents Singapore LTA seeks tailored solutions to improve Bukit Panjang LRT's maintenance inspections World US not rushing trade deals ahead of August deadline, will talk with China, Bessent says Multimedia 'It's very sad': She comforts loved ones turned away by inmates Opinion Sumiko at 61: 7 facts about facial skin ageing, and skincare ingredients that actually work Singapore Subsidies and grants for some 20,000 people miscalculated due to processing issue: MOH Opinion With Shatec cutting back operations, what's next for Singapore's hospitality sector? The Hong Kong High Court will hand down a decision on Aug 1, according to its website. The delay in setting up trusts has prompted the three half-siblings to also file a lawsuit in Hangzhou with similar demands. Separately, the 43-year-old heiress is being sued by some former Wahaha employees seeking to void a 2018 share buyback, according to people familiar with the case. The employees argue that the repurchase price was unfairly low, the people said. Wahaha's labour union said the share repurchase move was approved by staff representatives and was lawful, according to a September statement it posted on social media platform Weibo. The cases have once again thrust Wahaha's leadership and its ownership structure into the spotlight – reminiscent of the corporate power struggle following the death of founder Zong Qinghou. The disputes also threaten to derail Ms Kelly Zong's long-standing efforts to take all or part of Wahaha public, following previous failed attempts. Wahaha's affairs are also a government concern, as a Chinese state-owned firm has a 46 per cent stake and the company is a flagship enterprise for Hangzhou, where it is headquartered. Ms Zong owns 29.4 per cent, while the group's staff union holds 24.6 per cent. 'Chinese family business founders need to take careful note of the Wahaha case,' said Marleen Dieleman, family business professor at IMD based in Singapore. 'Especially when founders have smaller stakes, succession can quickly spiral into a battle for control.' Since Ms Zong took over as chairwoman in August 2024, some of Wahaha's existing production facilities have been shut down, leading to layoffs as part of business restructuring, the people said. BLOOMBERG


Business Recorder
16-07-2025
- Business
- Business Recorder
Zong launches ‘Z SAIS Cloud' in Karachi
KARACHI: Zong has launched 'Z SAIS Cloud', a locally-hosted, business-ready, enterprise-grade platform designed to accelerate Pakistan's transition to a truly digital economy in Karachi, bringing together over 150 industry leaders, senior executives, and technology professionals. The event organized on Monday night highlighted how locally hosted cloud infrastructure can accelerate business transformation, strengthen digital sovereignty, and drive Pakistan's emergence as a cloud-first economy. A standout moment of the event was the signing of nine new strategic partnerships with leading enterprises including Yango, Keenu, AGP Limited, and Kababjees, a clear testament to the trust Z SAIS Cloud is building across industries. The event also featured keynote speeches from prominent thought leaders, including Nadeem Hussain, one of Asia's most respected social impact entrepreneurs, and Humayun Bashir country advisor, a seasoned corporate leader and strategist with over 40 years of experience, currently serving as and Country Advisor for Dun & Bradstreet, both of whom emphasized the critical role of locally-hosted cloud infrastructure in driving sustainable digital transformation within Pakistan. A live demonstration brought platform's features to life, highlighting its one-window service activation, low-latency performance, and robust security framework. Attendees were also given an exclusive virtual tour of Zong's state-of-the-art data center, reinforcing the reliability and scalability of its cloud infrastructure. Speaking at the occasion, Farooq Raza Khan, Head of Business Solutions at Zong, said that this is a pivotal milestone in Pakistan's digital evolution. As the country embraces cloud-first strategies, Z SAIS Cloud offers the secure, scalable, and future-ready infrastructure needed to power this transformation. 'By equipping businesses with the tools to compete globally and deliver smarter services locally, Zong is proud to play its part as a promoter of Digital Pakistan', he added. Copyright Business Recorder, 2025

Miami Herald
30-06-2025
- Science
- Miami Herald
Owls inspire new revolutionary noise reduction technology
By Stephen Beech Owls have inspired new noise reduction technology. The silent flight of the aerial predators is possible because their skin and feathers dampen sound by absorbing high- and low-frequency flight noise. Inspired by that natural soundproofing, Chinese scientists have developed a two-layer aerogel that mimics the structures inside owl feathers and skin to reduce sound pollution. They say the new material could be used in cars and manufacturing facilities to reduce traffic and industrial noise. Previous research has shown that excessive noise can cause hearing loss and can worsen health conditions, including heart disease and type 2 diabetes. While eliminating the source of noise pollution isn't feasible, soundproofing materials help dampen it. But traditional materials absorb either high-frequency sounds, such as squealing brakes, or low-frequency sounds, like the deep rumbling of a car engine. That means engineers often layer multiple types of soundproofing materials to achieve full-spectrum noise control, which adds weight and bulk. To overcome the issue, researchers at Tiangong University in China turned to owls for inspiration. Study leader Dr. Dingding Zong said, "The owl uses its soft feathers and porous skin to remain whisper-quiet during flight." The researchers' goal was to engineer a similarly versatile broadband sound absorber. The team froze droplets of hexane into a layer of soft material, using a technique called emulsion-templated freeze-reconstruction. Dr. Zong said removing the frozen hexane revealed a honeycomb-like pattern in the material. The researchers then added a second layer with silicon nanofibres instead of hexane droplets to create a fibrous pattern. Dr. Zong said, "The resulting light, porous two-layer aerogel mimics the structures in owl skin and feathers. "The bottom porous layer resembles the bird's skin with microscopic cavities that cancel out low-frequency noise; and the top feather-inspired layer, made of fluffy nanofibres, dampens high-frequency sounds." The findings, published in the journal ACS Applied Materials and Interfaces, showed that the owl-inspired aerogels can absorb 58% of sound waves that strike it, surpassing the threshold for effective noise control materials. The researchers also found that the aerogels reduce 87.5 decibels of automobile engine noise to a safe level of 78.6 decibels, which is a better reduction than existing high-end noise absorbers. The researchers believe the study paves the way for high-performance, lightweight and durable sound-absorbing materials that can "significantly alleviate" noise pollution from industrial equipment and traffic. The post Owls inspire new revolutionary noise reduction technology appeared first on Talker. Copyright Talker News. All Rights Reserved.


Business Recorder
18-05-2025
- Business
- Business Recorder
World celebrates WTISD 2025 under theme ‘Gender equality in digital transformation'
ISLAMABAD: As the world celebrates World Telecommunication and Information Society Day (WTISD) 2025 under the theme 'Gender equality in digital transformation,' Zong reaffirms its commitment to ensuring that every Pakistani woman has equal access to the benefits of digital technology. To bridge the digital divide, Zong continues to expand its 4G network to underserved areas while offering affordable data packages, tackling access and affordability, particularly for women in rural regions. In the rapidly evolving digital world, equitable access to connectivity is not only a matter of convenience, it is a key driver of inclusion and sustainable development. However, barriers to digital access continue to disproportionately affect women and girls globally, restricting their participation in the digital economy and limiting their opportunities for growth. This year's WTISD also marks the 160th anniversary of the International Telecommunication Union (ITU), which continues to highlight the transformative role of Information and Communication Technologies (ICTs) in shaping a better and more connected world. Despite progress, around 2.6 billion people remain offline, with women making up the majority. Challenges such as affordability, lack of skills, and unsafe digital environments must be tackled collaboratively to achieve inclusive digital transformation. In 2024 alone, over 8 million women in Pakistan came online, and the gender gap in mobile internet usage decreased from 38% to 25%, reflecting collective progress by regulators, telecom providers, and civil society. Pakistan now leads South Asia in digital inclusion, with 45% of women connected; surpassing India and Bangladesh. Despite this progress, 55% of women remain offline, with 40% citing barriers such as handset affordability, data costs, literacy gaps, and lack of digital skills. Aligned with its vision to become Pakistan's leading information services and technology innovation company Zong has implemented a series of strategic programs to address digital inequality and create lasting impact through innovation, education, and partnerships. These initiatives focus on access to connectivity, digital skills development, financial platforms, and fostering a safe and inclusive digital ecosystem for women. Zong has partnered with government bodies, non-profits, and digital learning platforms to launch targeted literacy programs that equip women with essential ICT skills, from basic internet usage to e-commerce and online safety. It has also established digital learning centers and telecenters that provide safe spaces for women to build skills and confidence, extending learning beyond traditional classrooms and fostering career readiness. The Zong Digital Scholars Programme, developed with Knowledge Platform, is a strategic initiative to prepare young women in CPEC corridor communities for the digital future through interactive classrooms and AI-enhanced learning. Building on this foundation, Zong is launching specialized digital literacy programs for 5,000 young women aged 18-24, equipping them with career-ready skills in an increasingly digital economy. Zong is driving inclusive growth by ensuring technology enables and uplifts all, especially marginalized groups. By embedding inclusion into every layer of its strategy, Zong is not only advancing digital gender equality but also paving the way for a more connected, just, and sustainable Pakistan. Copyright Business Recorder, 2025
Yahoo
27-02-2025
- Business
- Yahoo
As trade war escalates, economists bet on China resilience
By Ankika Biswas and Bansari Mayur Kamdar (Reuters) - With China at the forefront of U.S. President Donald Trump's tariff agenda, domestic economists expect a combination of policy measures, supply chain adjustments and strengthened global partnerships to cushion the world's second-largest economy as the trade war intensifies. "We (China) have taken proactive steps to mitigate the impact of the trade war," Zong Liang, chief economist, Research Institute at state-owned Bank of China, told the Reuters Global Markets Forum. "We've made it easier for other countries to do business with us, strengthening trade relationships beyond the U.S.," Zong said. Minutes after Trump's 10% tariff on Chinese imports took effect on Feb. 4, Beijing announced retaliatory tariffs on some U.S. energy products and autos along with a range of measures against Google and other U.S. firms. Trump has also announced a 25% tariff on all steel and aluminum imports into the U.S., which was eventually followed by multiple countries including Vietnam, South Korea and India unveiling their own measures on Chinese steel and steel-related imports. "Despite this, (China's) share of global exports has remained strong," Zong said, adding that he expected China to adopt a more aggressive fiscal policy this year along with additional measures to stabilise domestic demand. Alex Hongcai Xu, deputy director of the Economic Policy Committee at the China Association for Policy Sciences, said Chinese companies are diversifying their export markets and broadening overseas investment cooperation, which will help mitigate trade war costs and risks. In order to further safeguard itself, Xu expects China to provide financial subsidies and tax breaks to the tariff-hit agriculture and manufacturing sectors. Both economists also noted that the U.S.-Sino trade war opens up opportunities for China to deepen relationships with Southeast Asian nations, the European Union and other tariff-hit countries, strengthening partnerships such as the Belt and Road Initiative (BRI). Kishore Mahbubani, veteran Singaporean diplomat and distinguished fellow at the National University of Singapore, said BRI will gain momentum as countries look outside for help after the U.S. has shut down aid. Trump has halted most U.S. government-funded aid globally for 90 days, while moving to dismantle the United States Agency for International Development (USAID), as part of his effort to cut the federal government workforce and curb spending it considers wasteful. "There are very few countries that can be as generous as the U.S. at that scale ... and, that is China," said Mahbubani, who was also the president of the UN Security Council in 2001 and 2002. (Join GMF, a chat room hosted on LSEG Messenger: ) Sign in to access your portfolio