“The Chinese government has a stake in 53% of Swiss companies acquired by Chinese firms since 2010, according to a think tank study.”
Read the full article @ Swissinfo.ch:
Month: November 2020
Asian Group Takes Over Landmark Building at Zurich’s Paradeplatz | finews.asia
“Savoy Baur en Ville, one of Zurich’s top hotels, will close its doors by the end of 2022, only to reopen two-and-a-half years later under a new name and new management. The renovation is the fourth in the long history of this landmark building at Paradeplatz.
The Mandarin Oriental Hotel Group will take over the management of Savoy Hotel Baur en Ville, the luxury hotel at Paradeplatz in Zurich. Even after the handover of operational responsibility, the ownership will remain the same though: Credit Suisse (CS) will retain its majority stake in the renowned hotel, according to a statement released on Monday.”
Read the full article @ finews.asia:
Asian Group Takes Over Landmark Building at Zurich’s Paradeplatz
Savoy Baur en Ville, one of Zurich’s top hotels, will close its doors by the end of 2022, only to reopen two-and-a-half years later under a new name and new management. The renovation is the fourth in the long history of this landmark building at Paradeplatz.
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Did a Belt and Road project in Malaysia just crash and burn? | SCMP
“The government of the Malaysian state of Melaka has terminated an agreement with the main developer of a Belt and Road Initiative infrastructure project after years of delays, raising questions about its future and the Malaysian government’s commitment to other projects under the strategy.
The Melaka Chief Minister’s Office said in a statement that the agreement with KAJ Development on the Melaka Gateway mixed development had been ended after the developer failed to complete the 246.45-hectare maritime initiative, which it signed on to in October 2017 and was meant to include port facilities, economic parks and tourist attractions on three artificially constructed islands.”
Read the full article @ SCMP (paywall):
The plans of the new Chinese ambassador to Switzerland | NZZ
“China is said to have eliminated absolute poverty by the end of the year. This is what the head of state and party leader Xi Jinping wants. It is an area that Wang Shihting, Beijing’s new representative in Switzerland, is very familiar with.”
Read the full article @ NZZ (paywall):
China’s AI unicorns aim to reduce reliance on government surveillance business | The Star
“When Chinese AI unicorns SenseTime, Megvii and Yitu were sanctioned by the US in October last year, it looked like a major threat to the survival of their business.
Yet the supply chain impact of being added to Washington’s Entity List, which restricted their access to American products, has been less significant than originally feared. In fact, it was quickly overshadowed by the need to diversify a business model overly reliant on government orders for surveillance cameras in a market that has since become saturated.”
Read the full article @ The Star:
China’s AI unicorns aim to reduce reliance on government surveillance business
SenseTime and Megvii, the most valuable Chinese AI unicorns worth US$7.5bil and US$4bil respectively, were added to the US Entity List in October last year. In 2019, surveillance was the biggest single end-use for AI in China, accounting for 53.8% of all AI-powered applications.
Coronavirus effect helps Swiss soap brand target China | swissinfo.ch
“Threatened several times with extinction, Switzerland’s oldest soap manufacturer is enjoying a new lease of life thanks to the importance of handwashing in 2020. The company’s owner, a businessman from Hong Kong, is now planning to tap into the Asian market.”
Read the full article @ swissinfo.ch:
