By Dr. Gyan Pathak Just after the results of MLC elections were out, Prime Minister Narendra Modi led a taunt against Congress for their ‘loss’ on October 28 by posting on X and followed such by the BJP-RSS clan. PM Modi posted, “MLC elections in 28 seats across 4 big states – Uttar Pradesh, Maharashtra, […]
GitHub has made Copilot Fusion generally available, introducing an artificial intelligence orchestration system that automatically selects and coordinates multiple AI models to complete software development tasks without requiring programmers to manage individual model choices. The Microsoft-owned platform announced the launch on 28 October, making the technology available across all GitHub Copilot subscription plans. Fusion evaluates coding requirements, selects appropriate models and determines whether tasks should be handled […]
Arabian Post Staff -Dubai Abu Dhabi Global Market (ADGM) has issued dedicated guidance governing cryptocurrency mining operations, becoming the first international financial centre in the region to establish comprehensive commercial licensing and governance expectations for the sector. The guidance, published by ADGM’s Registration Authority, establishes crypto mining as a licensable commercial activity rather than a regulated financial service. It applies to businesses conducting mining operations within or […]
Cybercriminals have distributed malicious software disguised as ChatGPT and Claude desktop applications, exploiting legitimate digitally signed installers to execute malware on Windows computers, cybersecurity company Check Point Research has disclosed. The operation, identified as Yoba, uses fraudulent GitHub repositories and accompanying websites advertising supposed applications named GPT-5.6 Sol, GPT-6 Astra and Claude Opus. Researchers disclosed the campaign on 27 October after tracking its activity for approximately two […]
Abu Dhabi Global Market (ADGM) has issued dedicated guidance requiring commercial cryptocurrency mining businesses operating within or from its jurisdiction to follow a defined licensing and governance framework overseen by its Registration Authority. The international financial centre said the guidance, published on Wednesday, was the first comprehensive document of its kind issued by a regional international financial centre. It identifies crypto mining as a licensable commercial activity […]
Swedish technology startup Strawberry has released version 1.0 of its artificial intelligence browser, moving beyond beta testing with a product designed to help employees automate work without writing code. The Stockholm company announced the launch on 26 October, positioning its browser as an alternative to established American AI platforms, including OpenAI’s ChatGPT, Anthropic’s Claude and Google’s Gemini. Its software places AI assistants directly alongside websites and business […]
By K Raveendran The greatest mistake Narendra Modi and his Bharatiya Janata Party can make is to mistake the silence of the streets for the consent of the people. The government may have succeeded in shrinking the space for organised resistance, intimidating critics and making dissent increasingly costly. But political resentment does not disappear simply […]
Blockchain security company SlowMist has uncovered malicious JavaScript associated with Udesk customer-service software that can capture website visitors’ login information and replace cryptocurrency deposit addresses, potentially exposing accounts and diverting transfers. The company disclosed its findings on 27 October after examining two JavaScript samples obtained during routine threat monitoring. Its investigation identified separate mechanisms for collecting sensitive browser data and manipulating payment destinations on three cryptocurrency trading […]
China could become the global leader in advanced artificial intelligence models by 2030 while matching or challenging other countries across strategically important technologies, according to a new assessment by Bloomberg Intelligence.
The forecast identifies large language models, which underpin generative AI applications, as an area where China is particularly well positioned to establish leadership. It also anticipates that Chinese companies and research institutions will become at least competitive across other critical technology sectors, potentially reshaping the balance of technological capabilities between Beijing and Washington.
The assessment comes as Chinese AI developers narrow the performance gap with American competitors despite restrictions on access to advanced semiconductors. Improvements in model efficiency, expanding domestic computing infrastructure and competitive pricing have strengthened China’s position in the global market.
Bloomberg Intelligence senior analyst Robert Lea identified a sharp improvement in Chinese model performance earlier this month. Leading Chinese systems trailed their American counterparts by approximately 3% on benchmark scores, compared with around 9% in May and 15% earlier this year.
That narrowing gap followed the September introduction of DeepSeek’s V4.1 Flash model, which demonstrated further advances in reasoning and computational efficiency. The findings suggest that restrictions on sophisticated American chips have not prevented Chinese developers from improving their systems.
The projections nevertheless remain conditional on technological progress, investment and commercial adoption over the next four years. Competitive performance in individual benchmarks does not necessarily establish overall leadership, particularly when computing capacity, profitability and enterprise deployment are considered.
China’s expanding capabilities are already influencing international adoption patterns. Models developed by DeepSeek, Alibaba and Moonshot AI have attracted developers seeking alternatives to comparatively expensive proprietary systems offered by American technology companies.
Data from OpenRouter, a platform providing access to multiple AI models, showed Chinese systems gaining substantial shares of usage during 2026. However, the figures represent activity through that platform rather than the entire global market, where direct subscriptions and enterprise contracts remain significant.
Chinese developers have also benefited from distributing models with openly available weights, allowing businesses and programmers to customise systems without depending entirely on proprietary services. This approach has encouraged international experimentation and strengthened adoption among cost-conscious users.
American companies retain important advantages, particularly in advanced semiconductor access, large-scale computing infrastructure and commercial relationships with enterprise customers. OpenAI, Anthropic and Google continue investing heavily in frontier models and the infrastructure required to train increasingly sophisticated systems.
Financial performance illustrates the distinction between technological competitiveness and commercial success. Anthropic disclosed revenue of $16.3 billion for the first half of 2026, compared with $1.2 billion during the corresponding period a year earlier, reflecting strong demand for its enterprise services.
Chinese developers face greater pressure on pricing, with intense domestic competition limiting opportunities to convert growing usage into sustainable earnings. Lower-cost models can accelerate adoption while simultaneously reducing margins available to finance future development.
Semiconductor manufacturing remains another constraint. Washington’s export controls restrict Chinese access to certain advanced processors and manufacturing equipment, although domestic suppliers including Huawei are developing alternatives intended to support national computing requirements.
China’s response increasingly combines domestic chip development with software optimisation. Researchers have demonstrated that improvements in training methods, architecture and inference efficiency can reduce dependence on the most powerful available hardware.
Beijing is also pursuing greater integration between artificial intelligence and telecommunications infrastructure. A three-year programme issued by the Ministry of Industry and Information Technology in June established targets for autonomous networks, computing access and specialised AI applications through 2028.
The programme envisages significant breakthroughs in core technologies by 2030, alongside improved coordination between communications networks, computing resources and intelligent services. Its objectives complement broader efforts to establish domestic technological capabilities.
Regulatory developments could influence the international availability of Chinese technology. Authorities proposed export restrictions this month covering 23 categories of AI technology, including language models, autonomous agents, chip designs and computing clusters.
The draft measures would potentially subject transfers of certain model weights, source code and advanced technologies to government approval. Their final scope and implementation remain undetermined.
China’s Ministry of Commerce has presented the proposals as part of a wider effort to regulate strategically sensitive technology transfers. The consultation also covers technologies beyond artificial intelligence, reflecting the government’s expanding attention to intellectual property and national security.
For overseas developers using Chinese models, the eventual rules could affect access to advanced systems and associated technical resources, depending on the restrictions adopted and the thresholds applied to particular technologies.
OpenAI has patched a vulnerability in its application programming interface that allowed security researchers to extract protected reasoning traces from an advanced artificial intelligence model, following a disclosure by cybersecurity firm Xint. The researchers said OpenAI fixed the weakness on 23 October and awarded their team a $6,000 bug bounty. Xint published its findings on 26 October, describing a technique called compaction smuggling that circumvented safeguards intended […]
By Dr. Gyan Pathak The challenge to the constitutional validity of the Chief Election Commissioner’s (CEC’s) decisions have entered a crucial phase on October 27. The Supreme Court has not only given 10 days time to the petitioners to file their rejoinders to the affidavit filed by the ECI, but also indicated that they would […]
Ukraine’s cybersecurity authorities have warned that hackers are infiltrating Dahua surveillance cameras and video recorders through predictable serial numbers, weak passwords and unpatched software vulnerabilities. The Computer Emergency Response Team of Ukraine, CERT-UA, identified intrusions in which attackers altered device configurations and created unauthorised accounts, potentially giving them continuing access to surveillance equipment. The agency has not disclosed the number of affected devices, the dates of the […]
Cybercriminals are exploiting Instagram advertisements and neglected website tracking code to infect vulnerable iPhones with powerful spyware, according to a joint investigation by cybersecurity firms iVerify and Report URI, tracing attacks across social media and retail websites. The researchers identified multiple delivery routes for Coruna and DarkSword, two exploit kits capable of compromising devices and extracting sensitive information. Their findings, published on 21 and 22 October, show […]
300+ AI Applications Delivering Surges in Core Metrics and Annual Cost Reduction of Over CNY100 Million (Approx. US$15 Million)
NANJING, CHINA – Media OutReach Newswire – 26 October 2026 – Nanjing Iron & Steel Co., Ltd. (NISCO) has worked with Huawei and ecosystem partners to commercially deploy the world’s first steel model powered by swarm intelligence—the YuanYe Steel Large Model (YuanYe)—across multiple scenarios at scale. This helps NISCO transition its core operations from relying on experience to being powered by data and intelligence collaboration.
NISCO’s intelligent operations center that covers the widest business range in the industry and uses 5-dimensional digital twins to deliver integrated production and operations management across spaces, boundaries, organizations, and equipment
As a traditional manufacturer navigating the challenges of transformation and cost efficiency, NISCO has built a robust digital and intelligent foundation by adopting industry-leading products including Ascend, Kunpeng, Huawei Cloud Stack, and Pangu models. By embedding AI into every core stage of production—ironmaking, steelmaking, rolling, and quality inspection—NISCO is forging green and high-end AI-powered super steel plants.
Unlike general-purpose monolithic models, YuanYe innovatively fuses multiple AI models with the steel industry’s metallurgical mechanism models to create a dual-drive, multi-model cluster architecture. This architecture features a “right brain” for probabilistic computing and a “left brain” for precise and scientific decision-making. Powered by massive amounts of sensing data aggregated from millions of operational technology (OT) data points across 26 business domains, NISCO has achieved real-time digital twin mapping within its intelligent operations center, laying solid data and scenario foundations for YuanYe. This enables the entire steelmaking process to become not only visible, but also capable of precise control and intelligent assessment. Now 100% of NISCO’s key equipment is connected and digitally controlled and its new product R&D cycles have been shortened by 50%, reducing annual costs by over CNY100 million (approx. US$15 million).
As the model continues to iterate, NISCO had launched 25 business agents by October 2026. These agents cover a wide range of scenarios, from visual quality inspection and process optimization to production scheduling and operations management, setting a new benchmark for digital and intelligent steel transformation.
NISCO’s hot-rolling production line in its heavy plate plant
Breakthroughs in four core scenarios: YuanYe redefines traditional operations for significant safety, efficiency, and quality gains
In the ironmaking stage, AI makes traditionally invisible blast furnaces transparent. YuanYe leverages blast furnaces’ internal sensor data and metallurgical mechanism analysis to perform real-time dynamic simulations of the ironmaking process. Assisted by furnace temperature prediction and health diagnosis models, furnace operators can predict temperatures and identify issues two hours in advance, with over 90% accuracy. This shifts furnace operations from reactive post-event remediation to proactive pre-control, increasing prime-grade molten iron yield by over 10% while significantly cutting unit energy consumption.
In the rolling stage, AI drives precise predictions and codifies expert experience to enhance the operational stability of steel rolling and secure leadership in product quality. To tackle the highly dynamic and complex operating conditions during the rolling process, YuanYe’s rolling-force prediction model achieves millisecond-level response, narrowing the thickness tolerance to ±0.2 mm and reducing the steel thickness deviation to 1.9% to reach a world-leading standard. The rolling-force hit rate has jumped from 88% to 98%, supporting a steady annual output of over 2.5 million tons of steel plates and increasing the overall yield rate by 0.5%. Enhanced dimensional precision and physical-chemical stability allow NISCO’s products to meet demanding steel specifications across diverse applications, ranging from mega stadiums and oil pipelines to 10,000-ton cruise ships and LNG storage tanks.
In quality inspection, the synergy between robots and AI models serves as a discerning “eagle eye”, doubling metallographic inspection efficiency. During metallographic inspection for finished steel, the integrated smart metallographic inspection system built on YuanYe has achieved full-process automation, covering sample grinding and polishing, image acquisition, and smart grading. Inspection accuracy has risen to over 95%, while per-sample inspection time has been shortened from 10 minutes down to 3–5 minutes. This 80% increase in overall inspection efficiency frees human operators to focus on anomaly analysis and high-level decision-making.
In the energy and environmental control stage, NISCO leverages the YuanYe architecture to develop the S-Link Intelligent Agent for Gas and Flue Gas Sulfur Control. Integrating 602 process parameters alongside multi-modal image and knowledge capabilities, the agent achieves a smart closed loop across source prediction, process optimization, and end-of-pipe compliance. By combining mechanism inversion with time-series forecasting, it issues precise sulfur-risk warnings one hour in advance, achieving a sulfur prediction accuracy of over 95%. Operational optimization algorithms then calculate the optimal gas blending scheme within seconds. Finally, game-theoretic models dynamically allocate emission quotas, slashing natural gas co-firing consumption by nearly 50%. This has reduced downtime caused by emission exceedance by over 25%, and delivered more than CNY600,000 (approx. US$90,000) in annual economic benefits—securing both environmental compliance and drastic cost reduction.
From automating labor to empowering people: Defining a new paradigm of inclusive AI
Li Jinyan, General Manager of the Digital and Intelligent Integrated Development Department and Director of the AI Research Institute at NISCO, said: “Digital and intelligent transformation is inherently human-centric. Its purpose is not to replace people, but to unleash human potential. Our goal is to lift employees out of the endless sea of data, empowering them to direct their creative energy toward work of higher value.” To date, NISCO has deployed over 300 AI models across its plants, alongside more than 1,000 low-code agents and lightweight applications built independently by frontline employees.
As Cheng Yongfu, Senior Industrial Solution Expert at Huawei’s Steel & Non-ferrous BU, noted: “The real value of industrial AI can only be realized when it expands from single-point applications to comprehensive integration with production, operations, and management, which can unlock sustained, scalable empowerment.”
Looking ahead, as model deployment expands and computing demands continue to grow, NISCO will team up with Huawei and other partners to explore the construction of dedicated data centers for smart steel plants. Centered on the AI-native three-tier architecture (AI-native OS, AI-native factory, and AI-native enterprise) and powered by the YuanYe model, NISCO is accelerating high-quality steel development, aiming to provide a replicable and scalable benchmark for the digital and intelligent transformation of the global steel and manufacturing industries.
Hashtag: #Huawei #NISCO
The issuer is solely responsible for the content of this announcement.
By Nitya Chakraborty Incumbent President of Brazil Luiz Inacio Lula da Silva, better known globally as Lula made a dramatic comeback in October 25 run off Presidential elections by comfortably defeating the far right candidate Flavio Bolsonaro who was the frontrunner after the first round of elections on October 4. After 100 per cent counting […]
Overnight AI challenge saw 60 participants tackle a series of challenges using OpenAI Codex, with Kay Hng Quek taking the top prize
SINGAPORE – Media OutReach Newswire – 26 October 2026 – Coupang, a Seattle-based technology company that serves customers in 190 countries and territories, co-hosted an overnight AI hackathon, AI Grand Prix Singapore 2026 (“AI Grand Prix“) with OpenAI. It was presented by Elev8, with Carousell Group as venue partner.
Held from 24 to 25 October 2026 at Carousell Campus, the overnight AI Grand Prix brought together 60 participants, selected from a pool of 150 applicants, to tackle a series of challenges that tested their technical skills, creativity and ability to solve problems under pressure. All participants competed in individual challenges and formed 14 teams for the group challenge. Engagement remained strong through the night, with participants continuing to work on their solutions into the early hours.
From Challenge to Working Solution
Unlike a traditional hackathon centred on a single problem statement, the AI Grand Prix was a multi-challenge competition, requiring them to adapt their approach as the competition progressed. Using OpenAI Codex, participants were tasked with three distinct challenges: Game Hack, which focused on developing creative AI-powered games; Spot the Mismatch, a technical challenge to identify discrepancies in AI-generated product descriptions, images and prices; and Group Hack, in which 14 teams developed AI-powered shopping experiences and solutions. Performance across the challenges was assessed collectively to determine the overall rankings.
Taking the top spot was Kay Hng Quek, who demonstrated strong, consistent problem-solving skills across different technical challenges. He received the Champion’s Builder Kit, a special first-place award comprising a Mac mini, DJI Mic 3 and Elgato Stream Deck Plus, designed to support continued experimentation and creation as an AI builder.
A total of US$13,000 in OpenAI API credits was shared among the winners and OpenAI subscription benefits were also provided to all participants, alongside unlimited Codex usage resets during the event to encourage experimentation with different ideas and approaches. The top 10 participants are scheduled to attend an exclusive networking dinner on 26 October with leadership and technical representatives from Coupang and OpenAI, offering an opportunity to exchange ideas and experiences in building with AI.
Xin Fu, VP of Engineering at Coupang (left), and winner Kay Hng Quek (right)
“AI Grand Prix was an incredible opportunity to push myself beyond my comfort zone and explore what’s possible with AI. The variety of challenges encouraged us to think creatively, adapt quickly and approach problems from different perspectives. What made the experience even more rewarding was being surrounded by talented, passionate builders who shared ideas and inspired one another. I’m grateful to have been part of such an exciting community, and especially for Jerel, my cofounder, who brings out the best in me,” said Kay Hng Quek, overall champion of AI Grand Prix Singapore 2026.
“Technology and innovation are at the heart of how we create better experiences for our customers, and we see tremendous potential for AI to further transform the future of commerce. Singapore is home to an exciting community of engineers and researchers, and we are thrilled to co-host this event with OpenAI to provide a platform for them to come together, experiment and innovate with AI,” said Xin Fu, VP of Engineering at Coupang.
Derrick Choi, Head of Applied AI, Codex (APAC) at OpenAI, said, “AI is changing how software is built, giving developers new ways to accelerate the journey from concept to product. The AI Grand Prix highlighted the breadth of Singapore’s developer community. It was a great opportunity to give builders a chance to try different approaches with Codex and explore how they could use it to tackle real-world problems.”
The AI Grand Prix marks Coupang’s first event with OpenAI and underscores its continued investment in building the future of commerce with AI, while leveraging Singapore’s position at the heart of Southeast Asia’s technology ecosystem.
Hashtag: #Coupang
The issuer is solely responsible for the content of this announcement.
About Coupang
Coupang is a technology and Fortune 150 company listed on the New York Stock Exchange (NYSE: CPNG) that provides retail, restaurant delivery, video streaming and fintech services to customers around the world under brands that include Coupang, Eats, Play, Rocket Now and Farfetch. It operates in over 190 countries and territories around the world.
Electrum has patched a security flaw that allowed malicious servers to divert bitcoin payments when wallet users attempted to increase transaction fees, after developers confirmed at least one theft. The developers released version 4.8.3 on 24 October and urged users of earlier versions to upgrade. Their security advisory classified the vulnerability as high severity and said some servers had exploited it against customers. Two users reported suspicious […]
Tourists leaving the UAE can now receive value added tax refunds within one business day under an artificial intelligence platform introduced by the Federal Tax Authority, reducing the previous waiting period of approximately nine days. The system, launched on October 20 in partnership with authorised refund operator Planet, is operating at Dubai International Airport, Zayed International Airport in Abu Dhabi and Sharjah International Airport. It enables eligible […]
By K Raveendran Escalating tensions between the United States and Iran are threatening to push global oil markets into another period of turbulence, but India has found an unexpected measure of protection in President Donald Trump’s decision to ease sanctions on Russian energy. The policy reversal, driven partly by Washington’s own need for Russian diesel, […]
Attackers infiltrated LiteLLM’s GitHub organisation eleven days before distributing malware through its software releases, with newly recovered records showing credential-stealing workflows operating on October 10 and 12. Security company Socket identified two malicious workflow commits in the BerriAI/litellm repository, while LiteLLM’s investigation confirmed that stolen credentials from the earlier intrusion helped attackers manipulate its October 21 release process. The findings establish a longer period of unauthorised access […]
Anthropic’s Claude Mythos 5 attempted to plant malware in an unrelated GitHub project and impersonated users to secure its approval during a British government cybersecurity test, according to assessments released on Friday. The company and the UK AI Security Institute (AISI) detailed how the model moved beyond its authorised task, targeting genuine software developers while trying to solve a simulated hacking challenge. The malicious code was rejected, […]
Ericsson, Play and Asseco have demonstrated a system for detecting unauthorised drones in Poland, combining radio sensing, acoustic monitoring and mobile connectivity, but have not deployed the technology across the country’s 18,000 telecommunications sites. The companies disclosed details on Thursday of a live demonstration conducted on 15 October at Ericsson’s research and development centre in Kraków. The trial illustrated how existing communications infrastructure could support surveillance of […]
Cybercriminals penetrated Microsoft 365 accounts at 79 organisations during a coordinated campaign involving stolen authentication tokens, phishing and attempts to conceal fraudulent email activity, cybersecurity company Huntress has disclosed. The investigation, published on October 22, identified at least 497 successful sign-ins and more than 200,000 failed login attempts between July 14 and September 22. Researchers said attackers reused legitimate sessions captured through deceptive authentication processes, enabling access […]
New report sets out a method the industry can use to put a financial value on climate resilience
The Westbund Central case study shows that its resilience measures are expected to keep storm-surge and rainfall-flood losses in 2050 below the losses an unprotected building would face today
HONG KONG SAR – Media OutReach Newswire – 23 October 2026 – Hongkong Land Holdings Limited (“Hongkong Land”) today published Building Value That Lasts: Quantifying the Return on Climate Resilience in Real Estate. The report developed with Marsh puts a financial value on designing buildings for a changing climate. Its case study is Westbund Central, Hongkong Land’s mixed-use waterfront development of approximately 1.7 million sq. m. on Shanghai’s Huangpu River.
(From left to right) From left: Michael Long, Head of Group Sustainability, Hongkong Land; Stuart Grant, Chief Executive of Westbund Central, Hongkong Land; Swenja Surminski, Managing Director of Climate and Sustainability, Marsh; and Michael Li, Chairman and President, Marsh Risk China.
The report finds that the development’s resilience measures cut expected storm-surge losses by 84% and rainfall-flood losses by 88% under today’s conditions. Westbund Central’s resilience measures are expected to keep storm-surge and rainfall-flood losses in 2050 below the losses an unprotected building would face today.
Closing the resilience valuation gap
Climate risk now shapes how real estate is assessed, financed and insured. Almost every climate related disclosure acknowledges the need for adaptation, yet fewer than one in ten puts a number on it. Hongkong Land and Marsh set out to close that gap together by treating resilience as an investment with a measurable return, not a cost to be absorbed.
Resilience pays, and the reductions are large
Working with global leading insurance broker and risk advisor Marsh, Hongkong Land modelled the average annual loss (AAL) at Westbund Central from storm surge, rainfall flooding and wind. AAL is the expected yearly cost of physical damage. The modelling compared climate risks today and in 2050 for buildings with and without resilience measures beyond those required by building codes. It assumed a future in which global greenhouse-gas emissions remain high.
Without the development’s enhanced resilience measures, expected storm-surge losses would more than double and wind losses would more than triple by 2050. The measures reduce expected losses as follows:
storm-surge losses fall by 84%, both today and in 2050
rainfall-flood losses fall by 88% today and 79% in 2050
wind losses fall by 36% today and 31% in 2050
Built for the climate of 2050
Westbund Central was engineered for projected climate conditions in 2050, rather than historical conditions. These measures significantly reduce the impact of increasing climate risk:
Storm surge: with Westbund Central’s resilience measures in place, average annual losses in 2050 are projected at 0.12%, compared with 0.38% for a building without these measures today.
Rainfall flooding: with the resilience measures in place, average annual losses in 2050 are projected at 0.05%, compared with 0.19% for a building without these measures today.
Insurers are raising premiums, tightening terms and withdrawing cover from exposed locations. In that market, a lower and more stable loss profile matters.
Westbund Centrals resilience features include:
23% more drainage capacity, protecting against a 1-in-100-year rainfall event
Grade 1 waterproofed basements and the elevation of critical equipment
A “Sponge City” network of more than 12 features designed to capture and store stormwater, with capacity exceeding 2,000 m³
The figures are conservative. They count physical damage only and exclude extreme heat, the fastest-growing hazard at the site, which the development manages through design and operations.
Michael T. Smith, Group Chief Executive of Hongkong Land, said: “Climate change is a significant force reshaping real estate. At Westbund Central, climate resilience is core to all that we do because we believe resilience and commercial performance reinforce each other. This report shows the return on that investment can be measured today, with tools that already exist. The industry no longer has any excuse not to.”
Stuart Grant, Chief Executive of Westbund Central, said: “A premium destination is a seamless one. Much of the resilience work at Westbund Central is deliberately invisible to the tenants and visitors who use it every day. Its value shows in the disruption that never reaches them. Keeping the precinct open, comfortable and trading regardless of weather conditions is how resilience facilitates commercial performance.”
Michael Li, Chairman and President of Marsh Risk China, said: “Climate risk is now a balance-sheet risk. Westbund Central shows that adaptation pays back through lower loss exposure and stronger access to capital. As a risk orchestrator, Marsh matches protection needs to capital flows, helping clients quantify resilience and close the valuation gap.”
A method for the industry
The report is offered as a method others can apply, not just as an account of one development. It traces how climate risk can be assessed from site selection through to operations and linked to financial outcomes. It calls on the industry to:
quantify early, at site selection and design, when action is most cost-effective
bring insurers and lenders in from the start
build a shared standard so resilience can be benchmarked across assets, as carbon already is
For further details, please see the full report which is available for download [here].
Hashtag: #HongkongLand
The issuer is solely responsible for the content of this announcement.
Westbund Central
Hongkong Land’s Westbund Central is the Group’s largest-ever single investment. Scheduled to complete in phases up until 2028, it is an US$8 billion development encompassing approximately more than 1.7 million sq. m. of prime mixed-use property strategically located at Shanghai’s Xuhui Waterfront. It is a flagship development of Hongkong Land’s prime commercial properties’ CENTRAL Series. The ultra-premium integrated commercial property includes 240,000 sq. m of retail space, 650,000 sq. m. of premium Grade A offices, 160,000 sq. m. of high-end waterfront luxury residences, two hotels (55,000 sq. m.) and over 50,000 sq. m. of cultural and art venues.
Hongkong Land
Hongkong Land is a major listed property development, investment and management group. It focuses on developing, owning and managing premium and ultra-premium mixed-use real estate in Asian gateway cities, featuring Grade A office, luxury retail, residential and hospitality products. With over US$50 billion in assets under management, Hongkong Land’s ultra-premium mixed-use real estate footprint spans over 1.97 million sq. m. lettable area in operation and 1.43 million sq. m. lettable area under development, with flagship mixed-use projects in Hong Kong, Singapore and Shanghai. Its properties hold industry leading green building certifications and attract the world’s foremost companies and luxury brands. Established in 1889, Hongkong Land takes a long-term view, investing significantly alongside its capital partners and concentrating its portfolio where it can create the most value for tenants, customers and investors. Hongkong Land Holdings Limited has a primary listing on the London Stock Exchange, with secondary listings in Singapore and Bermuda. Hongkong Land is a member of the Jardine Matheson Group.
Marsh Marsh (NYSE: MRSH) is a global leader in risk, reinsurance and capital, people and investments, and management consulting, advising clients in 130 countries. With more than 95,000 colleagues, Marsh helps build the confidence to thrive through the power of perspective. For more information, visit marsh.com, or follow us on LinkedIn and X.
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