University of Michigan Business Professor Dave Ulrich. Dave Ulrich In today’s uncertain times, good business leaders should focus on what is certain in their environment as a key approach to success. That was the advice given by University of Michigan business professor and management guru Dave Ulrich speaking via by video last Friday at the […]
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Yat Siu, cofounder and chairman of Animoca Brands. Tory Ho/Bloomberg Yat Siu, chairman of Asia’s largest blockchain investor Animoca Brands, thinks volatile cryptocurrencies are a relatively safe investment as the traditional financial world is rocked by the Credit Suisse turmoil and the failure of a string of U.S. banks. “If you take a look what […]
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Baidu CEO Robin Li introduces the functions of Ernie Bot during an event in Beijing on March 16, … [+] 2023. AP Photo/Ng Han Guan Shares of billionaire Robin Li’s Baidu, which tumbled 6.4% on Thursday on disappointment over the launch of its ChatGPT-like service, surged almost 14% Friday as some analysts who tried Ernie […]
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In this 2017, file photo, a Twitter page of Chinese exiled real estate tycoon Guo Wengui is seen on … [+] a computer screen in Beijing. (AP Photo/Andy Wong, File) Copyright 2017 The Associated Press. All rights reserved. The U.S. Attorney’s Office in New York today charged exiled Chinese businessman Guo Wengui with defrauding thousands […]
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Masatoshi Ito KIMIMASA MAYAMA/BLOOMBERG Japanese billionaire Masatoshi Ito, who helped build 7-Eleven into a global giant, died on Friday at the age of 98. Ito’s company, Seven & i Holdings, which owns the 7-Eleven chain, said in a statement on Monday that he died of old age. At the time of his death, Ito was […]
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China’s President Xi Jinping swears under oath after being re-elected as president for a third term during the third plenary session of the National People’s Congress (NPC) at the Great Hall of the People in Beijing on March 10, 2023. NOEL CELIS/AFP via Getty Images Xi Jinping has officially started his precedent-breaking third term in […]
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Tokyo’s skyline at dusk. Dukas/Universal Images Group via Getty Images For over a decade now, Japan has pledged to enact big reforms to get its economy back in the race against China. And with little to show for it. Clearly, hopes that aggressive Bank of Japan easing alone would revive the nation’s animal spirits didn’t […]
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Illustration by Daniel Downey for Forbes Pentagon efforts to develop new missile propellants and explosives waned after the collapse of the Soviet Union, but the Chinese have made big strides. By Jeremy Bogaisky, Forbes Staff In1987, U.S. Navy researchers discovered a new explosive with fearsome capabilities. Named China Lake Compound No. 20 after the […]
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Employees chat outside the Infosys Experience Center at the Infosys campus in Bengaluru, India. Karen Dias/Bloomberg There was a time over two decades ago when India’s IT services majors—TCS, Infosys, HCL, Wipro, and Tech Mahindra—were the darlings of global investors. In the era before the convergence of social media, e-commerce and the smartphone, the Indian […]
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A general view of the opening session of the National People’s Congress (NPC) at the Great Hall of the People in Beijing on March 5, 2023. NOEL CELIS/AFP via Getty Images China set its 2023 economic growth target at around 5%, a target more modest than some had previously projected as the nation’s leadership takes […]
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Edgar Saavedra is chairman of Megawide Construction. Sonny Thakur For Forbes Asia Megawide—controlled by tycoon Edgar Saavedra—is building a $300 million data center in Cavite, south of the Philippine capital of Manila, as the construction company pivots to the digital space. The 69-megawatt facility—which is being developed by Megawide in partnership with Singapore-based Evolution Data […]
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For many years, the Indonesian government’s food aid program sent bags of rice to villages, where local leaders were supposed to distribute them to poor residents every month. But starting about five years ago, Indonesia changed that. Instead of rice bags, the poor were sent debit cards to buy the equivalent amount of food at […]
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Bank of Japan (BOJ) Governor nominee Kazuo Ueda speaks during a hearing at the lower house of parliament on February 24, 2023 in Tokyo, Japan. Tomohiro Ohsumi/Getty Images Yen bulls are feeling a sudden burst of buyer’s remorse as Bank of Japan Governor nominee Kazuo Ueda signaled he may keep Tokyo’s printing presses on the […]
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Alibaba cofounder Jack Ma. Wang HE/Getty Images Billionaire Jack Ma is back to square one. The $3.4 billion gain to his wealth since the start of the year has all but evaporated, after Alibaba’s stock was dragged lower on renewed worries over the company’s growth prospects The globe-trotting Ma, who stepped down from the helm […]
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As the deadline for raising the federal debt limit approaches, Kevin McCarthy (R-CA) said he would lead his caucus in opposition to President Joe Biden’s legislative agenda. Chip Somodevilla/Getty Images In a world of economic landmines, it’s a sad commentary that what Federal Reserve officials may fear most is Congress. Specifically, Republicans now in control […]
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Kwek Leng Beng, chairman of City Developments Ltd., speaks during a news conference in Singapore, on … [+] August 11, 2017. Nicky Loh/Bloomberg City Developments Ltd. (CDL)—controlled by billionaire Kwek Leng Beng—posted its highest-ever net profit in 2022 as its hotels benefitted from a post-pandemic rebound in travel demand and the developer booked robust sales […]
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This story appears in the February/March 2023 issue of Forbes Asia. Subscribe to Forbes Asia Bloomberg Finance L.P. This story is part of Forbes’ coverage of Hong Kong’s Richest 2023. See the full list here. Hong Kong rich list ss Hong Kong’s economic growth is set to accelerate this year as the city jettisons Covid-19 […]
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This story appears in the February/March 2023 issue of Forbes Asia. Subscribe to Forbes Asia ss This story is part of Forbes’ coverage of Hong Kong’s Richest 2023. See the full list here. ss Hong Kong-based shipping mogul Helmut Sohmen’s wealth increased 53% to $5.5 billion amid soaring demand for maritime services offered by over […]
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This story appears in the February/March 2023 issue of Forbes Asia. Subscribe to Forbes Asia Ore Huiying/Bloomberg This story is part of Forbes’ coverage of Hong Kong’s Richest 2023. See the full list here. Private equity billionaire Jean Salata is the biggest gainer in percentage terms this year, thanks to a blockbuster $6.7 billion deal […]
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This story appears in the February/March 2023 issue of Forbes Asia. Subscribe to Forbes Asia Jocelyn Tam for Forbes Asia This story is part of Forbes’ coverage of Hong Kong’s Richest 2023. See the full list here. ss Horst Julius Pudwill, cofounder and chairman of power tools and floor-care products maker Techtronic Industries, saw his […]
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Pinduoduo founder Colin Huang (Photo by Qilai Shen/Bloomberg) © 2017 Bloomberg Finance LP E-commerce giants JD.com and Pinduoduo are on the cusp of a new price war, with the former pledging more than $1 billion in fresh subsidies to win over budget shoppers. But concerns over stepped-up competition and thinning margins has prompted many investors […]
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Fan Bao is the chairman and chief executive officer of China Renaissance Group. David Paul Morris/Bloomberg China Renaissance Holdings says it has been unable to contact its Chairman and CEO Bao Fan, a well-known dealmaker involved in some of the country’s most prominent transactions. Shares of CR Holdings plunged as much as 50% on Friday […]
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A scion of Malaysia’s richest family, Kuok Meng Ru transformed his love of classic rock and blues into a music empire. Looking ahead, his music production app BandLab aims to help everyone create songs for free. Kuok Meng Ru, founder and CEO of Caldecott Music Group, believes AI-generated instrumentals are one component to “empowering and […]
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Alternergy built the Philippines’ first commercial wind farm and eventually sold it to Ayala Corp’s AC Energy. Courtesy of Alternergy Alternergy—which built Southeast Asia’s first commercial wind farm in the northern Philippines—is gearing up for its initial public offering next month to bankroll renewable energy projects with a combined capacity of over 1.2 gigawatts. The […]
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The skyline of financial and business center are seen in the background as people paddle surf along … [+] East Coast Park beach, among Singapore’s prime residential estates. July 17, 2020. ROSLAN RAHMAN/AFP via Getty Images A joint venture between UOL Group and Singapore Land—both controlled by billionaire Wee Cho Yaw—is buying the Meyer Park […]
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This 2022 photo shows a sensor from Hesai on top of a “robotaxi” autonomous vehicle developed by … [+] Baidu Apollo as it drives along a street in Shenzhen in China southern. (Photo by Jade Gao / AFP) (Photo by JADE GAO/AFP via Getty Images) AFP via Getty Images Hesai Group, a supplier of sensors […]
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OpenAI logo seen on screen with ChatGPT website displayed on mobile seen in this illustration, on January 8, 2023 in Brussels, Belgium. (Photo illustration by Jonathan Raa/NurPhoto via Getty Images) NurPhoto via Getty Images China’s internet companies are racing to develop their own versions of ChatGPT-style services amid the global frenzy around the conversational AI […]
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Huang Ping, the Chinese consul general in New York, rang the opening bell at the Nasdaq on Jan. 25. Courtesy of Nasdaq In 2019, the year before Covid upended global travel and business, the Nasdaq attracted 33 listings from Asia-Pacific companies. All but five were from China, underscoring the country’s heft as the world’s No. […]
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A woman walks down a flight of stairs at the Shenzhen Stock Exchange in 2019. Photographer: Qilai … [+] Shen/Bloomberg © 2019 Bloomberg Finance LP Today’s listing at the Shenzhen Stock Exchange by Greenworks (Jiangsu), a supplier of home, yard and do-it-yourself tools, has minted a new billionaire. Chairman Chen Yin holds a stake of […]
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Pedestrians holding umbrellas walk past a Gucci luxury goods store, operated by Kering SA, in … [+] Shanghai in 2015. Photographer: Qilai Shen/Bloomberg © 2015 Bloomberg Finance LP China’s luxury goods market is poised to recover this year after Covid-related lockdowns waylaid a five-year growth run in 2022, Bain & Company said in a new […]
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Robin Li Yanhong, chairman and CEO of Baidu, speaks at the opening ceremony of 2021 World Artificial Intelligence Conference (WAIC) at Shanghai World Expo Center on July 8, 2021 in Shanghai, China. Wu Jun/VCG via Getty Images Chinese billionaire Robin Li’s search giant Baidu has confirmed plans to roll out a ChatGPT-style service, triggering an […]
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