Following the proposal in February 2025 by its Japanese parent company Toridoll Holdings to privatize Tam Jai International, which had been listed in Hong Kong for less than three and a half years, HSBC Holdings announced in September 2025 its plan to privatize the 1933-founded Hang Seng Bank.
Launched by World Liberty Financial, a decentralized financial (DeFi) protocol and governance platform backed by Donald Trump’s family, the digital token WLFI began trading on major cryptocurrency exchanges on 1 September 2025 (see Figure).
As cryptocurrencies, stablecoins are pegged to another asset, typically the US dollar, another fiat currency, or a financial asset such as gold or the US Treasury bonds. The issuance mechanism of stablecoins is characterized as either centralized or decentralized. The supply of stablecoins relies on reserves held in assets or cryptocurrencies to maintain their value.
Artificial intelligence (AI) is fast becoming a core technology for optimizing efficiency and driving innovation, finding wide applications across sectors such as healthcare, business operations, and public safety. However, just like the other side of the same coin, these advancements also present opportunities for criminals. As AI technology continues to grow more sophisticated, it is difficult to guard against hacking, scams, blackmailing involving fabricated videos, and dissemination of disinformation orchestrated by criminal organizations.
Released by the International Monetary Fund (IMF) in April 2025, the World Economic Outlook significantly lowered global economic growth forecast from 3.3% in January 2025 to 2.8%. The report identifies China and India as the main growth engines, with the two countries predicted to contribute 23% and over 15% respectively to global economic growth in the next five years. The estimated contribution from America, nevertheless, has been lowered to 11.3% in view of the uncertainties surrounding its tariff policy.
Since its launch of ChatGPT in 2022, OpenAI, the US-based company, has maintained dominant leadership in the generative artificial intelligence (Generative AI) market. The field of AI innovation has long become a fiercely contested battleground, with the United States restricting China's development in this area by banning exports of high-end chips and blocking Chinese users from accessing ChatGPT—prompting Hong Kong users to rely on Virtual Private Networks (VPNs) for access. In 2024, however, a Chinese startup introduced the DeepSeek generative AI model, dramatically shifting the landscape and directly challenging ChatGPT's throne as the industry leader.
Hong Kong is facing with a persistent fiscal deficit, with projections suggesting a staggering shortfall of HK$94.8 billion for the 2024–25 fiscal year. Financial reserves are expected to drop to HK$639.8 billion, largely due to a sluggish real estate market that has significantly reduced land sale revenues. Meanwhile, public spending continues to rise, particularly in healthcare, social welfare, and civil service salaries. To address these challenges, the government has turned to silver and green bonds as a solution for managing the funding issue and the deficit.
Did you know that blaming others can be just as contagious as a cold? Psychological research has shown that when participants read about political failures, they are more likely to blame others, especially if they see politicians attributing their failures to outside interests. Similarly, when management easily blames employees, it sets a precedent, leading to a culture of blame within the organisation.
Did you know that blaming others can be just as contagious as a cold? Psychological research has shown that when participants read about political failures, they are more likely to blame others, especially if they see politicians attributing their failures to outside interests. Similarly, when management easily blames employees, it sets a precedent, leading to a culture of blame within the organisation.
