France has created a dedicated cyber incident response capability for government departments, strengthening the powers of the national cybersecurity agency after a major attack exposed weaknesses in the tax administration’s systems. The new mechanism, called REACTIV — short for Réponse & Action Interministérielle face aux Violations de données — was announced by the National Agency for the Security of Information Systems, or ANSSI, after Prime Minister Sébastien […]
Grindr has agreed to pay £26 million to resolve a UK group action brought by thousands of users who alleged the dating platform unlawfully processed sensitive personal information and misused private data before 2020. The settlement, reached on September 2 and disclosed in a filing with the US Securities and Exchange Commission, ends proceedings in the High Court of England and Wales without any finding or admission […]
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With 30 Years of Industry Dedication, A-Share Listed Enterprise Huali Shares Achieves Over 50% Growth Against Market Trends
HUAFULI Makes Its First Foray into Hong Kong with the Grand Opening of the 2,800 sq. ft. “HUAFULI Hong Kong Home Art Gallery”
Executive President Xie Zhikun Reveals Deep Ties with Hong Kong; Hong Kong Regional Manager Ken So Addresses Industry Pain Points and Sets HK$100 Million Sales Target
HONG KONG SAR – Media OutReach Newswire – 7 September 2026 – HUAFULI, a high-end decorative panel brand under the Shanghai Stock Exchange main board listed company “Dongguan Huali Industries Co., Ltd.” (Stock Code: 603038.SH), has leveraged its 30 years of brand heritage and formidable R&D and supply chain strength to achieve a rapid growth of over 50% against recent market downturns! Backed by a robust brand history, HUAFULI served as a supporting furniture materials supplier for top-tier international events, including the 2008 Beijing Olympics, the 2010 Guangzhou Asian Games, and the 2011 Shenzhen Summer Universiade, earning national-level recognition for its quality.
(From left) Mr. Wang Tangxin, Co-founder of Dongguan Huali Industries Co., Ltd.; Mr. Xie Zhikun, CEO and Co-founder of Dongguan Huali Industries Co., Ltd.; Mr. Wayne Lai Yiu Cheung, Brand Spokesperson of HUAFULI; Mr. Jacky Tan Xujie, Vice Chairman of Dongguan Huali Industries Co., Ltd.; Mr. Ji Juntao, Vice President of Dongguan Huali Industries Co., Ltd.; and Mr. Lu Xuqiu, Co-founder of Dongguan Huali Industries Co., Ltd. jointly officiate the ribbon-cutting ceremony for the opening of the new showroom.
HUAFULI today officially announced its full-scale entry into the Hong Kong market, establishing its presence in the heart of Lockhart Road, Wan Chai—renowned as “Hong Kong’s Building Materials Street.” A grand opening ceremony was held for its brand-new 2,800 sq. ft. flagship exhibition hall, the “HUAFULI Hong Kong Home Art Gallery”. The brand offers an Integrated Door-Wall-Cabinet solution and localized services, using Hong Kong as a strategic pivot to expand into the global market!
The ceremony, themed “Huafuli: A New Chapter in Hong Kong”, was officiated by management representatives, including Mr. Jacky Tan Xujie, Vice Chairman of Dongguan Huali Industries Co., Ltd., Mr. Xie Zhikun, CEO and Co-founder of Dongguan Huali Industries Co., Ltd., Mr. Lu Xuqiu, Co-founder of Dongguan Huali Industries Co., Ltd., Mr. Wang Tangxin, Co-founder of Dongguan Huali Industries Co., Ltd., Mr. Ji Juntao, Vice President of Dongguan Huali Industries Co., Ltd., and Mr. Ken So, Sales Manager of the Hong Kong Region, Huafuli. The event also featured a heavyweight guest, three-time TV King, renowned artist, and Brand Spokesperson Mr. Wayne Lai, who attended the ribbon-cutting and conducted a live contract signing ceremony, witnessing this significant milestone in HUAFULI’s development in Hong Kong.
30 Years of Dedication: From Single-Product Champion to System Service Provider; Executive President Xie Zhikun Reveals Deep “Hong Kong Ties”
Founded in 1995, Huali Shares was listed on the SSE main board in 2017. In its early years, the brand took the lead in breaking foreign technological monopolies, spearheading the formulation of China’s furniture edge banding industry standards, and achieving the highest national sales for ten consecutive years. Over 30 years of development, the brand has successfully upgraded from an edge banding sales champion to a whole-house system service provider encompassing decorative panels, edge banding, and home hardware. Amid the transformative challenges faced by the home building materials industry in recent years, HUAFULI has defied market trends with a robust growth of over 50%, demonstrating remarkable business resilience and market leadership.
During his opening speech, Mr. Xie Zhikun, CEO and Co-founder of Dongguan Huali Industries Co., Ltd., shared emotionally: “Thirty years ago, we started with a single edge banding strip, proactively formulating the industry standards for furniture edge banding in China and maintaining the number one sales position nationwide for thirty consecutive years. With this dedication, we successfully upgraded from a ‘single-product champion’ to a complete system covering decorative panels, edge banding, and home hardware. Even when the industry faced challenges recently, HUAFULI still achieved a 50% growth against the trend. In fact, our connection with Hong Kong began back in 2008 when we established a subsidiary here. Hong Kong people are extremely particular about home quality, placing special emphasis on eco-friendliness, moisture resistance, and health, which are precisely HUAFULI’s strengths. The ‘HUAFULI Hong Kong Home Art Gallery’ unveiled today is not just an ordinary showroom, but a home art gallery that offers peace of mind and lifestyle aesthetics. In the future, we will collaborate with all sectors in Hong Kong using solid products, a professional team, and localized services, opening a new chapter where quality and craftsmanship parallel each other—basing ourselves in Hong Kong, connecting with the Mainland, and radiating globally!”
Mr. Ken So, Sales Manager of the Hong Kong Region, Huafuli, Addresses Three Industry Pain Points, Eliminates Northbound Travel Hassles, and Sets a HK$100 Million Sales Target
In an exclusive media interview, Mr. Ken So, Sales Manager of the Hong Kong Region, Huafuli, deeply analyzed the business logic and localized strategy behind the brand’s entry into Hong Kong:
Eliminating Cross-border Travel Fatigue to Significantly Boost Deal Success Rates: Mr. So pointed out that local interior designers and homeowners were often limited to brochure samples or had to endure tiring trips to Mainland factories to view actual materials. “We established ourselves directly in the core area of Lockhart Road, Wan Chai, building a 2,800 sq. ft. high-spec exhibition hall. Designers can now bring clients at any time to view 1:1 physical large panels and finished door-wall-cabinet displays. The art gallery does not retail directly to homeowners but serves as a shared design base for Hong Kong designers and contractors, addressing eco-concerns on the spot and significantly improving local designers’ deal success rates.”
Insisting on a 100% Direct-Sale Model with Unified National Pricing—”Not a Cent Added”: Differentiating from traditional building material brands that rely on multi-tiered agents, Mr. So emphasized HUAFULI’s commitment to a direct-sale system: “Whether in the Mainland or Hong Kong, HUAFULI is directly operated by the group, ensuring high consistency in product quality, after-sales service, and pricing. Although we have set up a top-tier showroom in the prime location of Wan Chai and hired a star spokesperson, the panel prices remain unified nationally with the Mainland—’not a cent added’—truly yielding benefits to local partners with sincerity.”
Eco-friendly Panels Replacing Traditional Laminates; Setting a HK$100 Million Sales Target: Mr. So analyzed that eco-friendly decorative panels are in a golden growth period in Hong Kong, gradually replacing traditional fireproof laminates and veneers. “We see massive market potential, and HUAFULI has set a target of achieving HK$100 million in sales in Hong Kong within 3 to 5 years! The Hong Kong market is strict and aligned with international standards. We are using Hong Kong as a touchstone and strategic hub for adapting to global standards, and will further expand into more overseas markets in the future.”
Strong Supply Chain Backing to Achieve “Zero Minimum Order, Next-Day Delivery” Express Fulfillment: Relying on six major production bases in the Mainland (totaling 600,000 square meters) and a network of 14 branch warehouses, HUAFULI breaks the traditional months-long waiting period for imported building materials. It provides the local industry with a localized, one-stop delivery service characterized by “zero minimum order, zero inventory requirements, same-day response, and next-day delivery,” greatly alleviating the financial and warehousing pressures on local partners.
Global Debut of German-Japanese Nano-Microcrystalline EBH Technology; Dual Ultimate Eco-certifications Lead New Trends in HK Building Materials
With Hong Kong’s increasingly stringent requirements for green buildings, indoor air quality, and ESG standards, HUAFULI brings a high-specification product system suitable for the Hong Kong environment:
Hong Kong Debut of the German-Japanese EBH Series: Combining German plasma spraying and Japanese precision light-curing technologies, this series boasts top-tier performance across six dimensions: anti-fingerprint (90% reduction), scratch resistance (2H+ hardness), anti-mildew and antibacterial (99.5%+), and yellowing resistance. Its surface presents an advanced, luxurious 5° matte gloss, perfectly adapting to Hong Kong’s humid climate.
Dual Highest Eco-certifications: “ENF Grade + JIS JAS F4-star”: Showcasing top-tier eco-friendly panels (including Particle Board, Multi-layer Plywood, and Oriented Strand Board, etc.) that have comprehensively passed the dual certifications of the national highest environmental standard “ENF Grade” (formaldehyde emission ≤0.025 mg/m³) and Japan’s highest environmental standard “F☆☆☆☆ (F4-Star).”
Recognized by the “Hong Kong ECO Mark”: The products have obtained the Hong Kong Green Label Scheme certification, achieving extremely low TVOC and formaldehyde emissions from the source. This directly addresses the pain points of Hong Kong’s indoor air quality and aligns with the high standards for ESG inspection by developers.
Patented Laser Edge Banding 2.0 and colour matched door-wall-cabinet system: The entire series comes standard with the original factory’s seamless laser edge banding technology, achieving panel edge banding in-one. HUAFULI particularly advocates the “Integrated Door-Wall-Cabinet” concept, where interior doors, wall panels, and custom cabinets are all made from the same original factory batch of substrates with identical colors and textures. This achieves zero color difference and a highly unified whole-house aesthetics with perfectly extended textures, providing unparalleled one-stop quality solutions when paired with original factory moldings and hardware components.
Star Spokesperson Mr. Wayne Lai Yiu Cheung Attends the Event, Heavily Endorses Dual Ultimate Eco-friendliness at Contract Signing
The atmosphere at the grand opening ceremony was vibrant, with traditional auspicious lion eye-dotting and lion dance performances kicking off the splendid prologue for the “HUAFULI Hong Kong Home Art Gallery.” Brand Spokesperson Mr. Wayne Lai Yiu Cheung conducted a grand contract signing ceremony on site and joined management guests for a celebratory group toast and photo.
Hashtag: #HUAFULI
The issuer is solely responsible for the content of this announcement.
About HUAFULI
Founded in 1995, Huali Shares was listed on the main board of the Shanghai Stock Exchange in 2017 (Stock Code: 603038.SH). Starting from the field of decorative composite materials, the company has adhered to integrity and innovation, inherited the spirit of craftsmanship, and over the past 30 years, has developed into a comprehensive holding enterprise encompassing home building materials, smart water affairs, membrane filtration materials, and industrial digital intelligence businesses. It is committed to leading industry progress through high-level R&D, satisfying people’s aspirations for a better life through technological innovation, and empowering industrial upgrades through digital and intelligent technologies. Its home building materials business primarily focuses on edge banding, decorative panels, and home hardware, mainly used in panel furniture, interior decoration, and commercial space construction. It is the first domestic home materials manufacturing enterprise to break the German technological monopoly and possess independent intellectual property rights, and is the leading formulator of important industry standards for edge banding in China.
Arabian Post Staff -Dubai Iran plans to declare a new exclusion zone near the Strait of Hormuz after its forces targeted three oil tankers and three US-linked vessels in retaliation for American strikes on Iranian shipping, raising risks to commercial traffic through the Gulf. Mohsen Rezaei, secretary of Iran’s Supreme National Security Council, said the proposed zone would extend from what Tehran describes as the US naval […]
Indonesia suspended flights at airports serving Jakarta and Lampung on Sunday after ash from the erupting Mount Anak Krakatau spread across western Java and southern Sumatra, disrupting hundreds of services and prompting aviation authorities to impose temporary closures.
Soekarno-Hatta International Airport, the country’s busiest gateway, halted operations after volcanic ash was detected around the airport. The suspension, initially imposed during the early hours, was extended as officials monitored changing ash concentrations and wind patterns.
Radin Inten II International Airport in Lampung also stopped flights, while Halim Perdanakusuma Airport in Jakarta and Budiarto Airport at Curug were among other facilities temporarily closed as a safety precaution. Indonesia’s disaster management agency said four airports had been shut at different times by early Sunday, with further operational decisions dependent on ash conditions.
The disruption widened as the day progressed. Airport authorities said 301 flights, including 58 international services, were affected by closures and related restrictions. Airlines cancelled, delayed or rescheduled services linking Jakarta with destinations including Singapore, Kuala Lumpur, Hong Kong, Doha, Sydney, Seoul and Amsterdam.
Civil Aviation Director General Lukman F Laisa said the disruption at Soekarno-Hatta alone affected 209 flights and 22,798 passengers. Sixteen international flights were cancelled, seven delayed and five rescheduled, while four domestic services were cancelled and one diverted.
The Meteorology, Climatology and Geophysics Agency, known as BMKG, said satellite analysis on Sunday morning showed two broad clusters of volcanic ash extending across Banten, Jakarta, West Java and towards Bengkulu. The agency intensified round-the-clock monitoring of the eruption’s effects on the atmosphere, aviation and waters around the Sunda Strait.
BMKG said ash at altitudes of up to 20,000 feet was moving generally eastwards and affecting parts of Jakarta, Banten and West Java, while another plume reaching as high as 50,000 feet was spreading westwards over Banten, Lampung, Bengkulu, the southern Sunda Strait and the Indian Ocean.
The agency said it had issued 50 Significant Meteorological Information, or SIGMET, warnings since the eruption began late on Friday. Such advisories alert aircraft operators to hazardous atmospheric conditions that can affect flight safety.
Volcanic ash poses a serious risk to aircraft because fine particles can damage engines, impair visibility and affect navigation and other systems. Authorities said airport operations would resume only when assessments showed conditions were safe.
Anak Krakatau’s activity had continued from about 11.07 pm on Friday, according to the National Disaster Management Agency. Monitoring recorded sustained eruptive activity accompanied by rumbling, booming sounds and lava fountains. Officials maintained close observation as ashfall reached populated areas around the Sunda Strait.
The eruption also disrupted daily life beyond aviation. Authorities distributed masks in affected communities and urged residents exposed to ash to reduce outdoor activity and use protective coverings. Schools in some areas suspended activities, while fishing was restricted around waters considered vulnerable to volcanic hazards.
No casualties were reported from the eruption, and authorities had not ordered a broad evacuation. Disaster officials continued to warn people and vessels to observe exclusion zones around the volcano and follow instructions from monitoring agencies.
Authorities also began weather-modification operations aimed at encouraging rainfall to help clear ash from affected areas, while aviation and disaster agencies coordinated forecasts, airspace warnings and airport inspections. Officials stressed that closure periods could be shortened or extended as conditions changed. The transport ministry said safety assessments would take priority over efforts to restore schedules, with airlines expected to reposition aircraft and crews once airports reopened. The spreading ash also created knock-on disruption at airports outside the closure zone as carriers adjusted rotations and connections across Indonesia’s domestic and international network.
Ferry services across the Sunda Strait continued operating with precautions, preserving the main sea connection between Java and Sumatra despite the aviation disruption. Port authorities were advised to remain alert to changing volcanic conditions and ash movement.
Rescuers in Nepal pulled a Chinese worker and a Nepali woman alive from separate sites on Saturday, 10 days after catastrophic floods swept through Himalayan valleys and left thousands of people missing. The Chinese national, identified as Lu Haitao, was brought out from a tunnel at the Upper Trishuli-1 Hydropower Project in Rasuwa district by a joint rescue team involving Nepal’s army and South Korean disaster specialists. […]
U. S. forces struck three Iranian crude oil tankers on Saturday after Iran’s Islamic Revolutionary Guard Corps fired ballistic missiles towards two American Navy warships, escalating a renewed exchange of attacks around the Gulf and Strait of Hormuz. U. S. Central Command said an American aircraft carrier and a guided-missile destroyer evaded multiple Iranian attacks while patrolling regional waters. No American personnel were harmed, it said. The […]
CoinRabbit has been named Best Crypto Lending Platform 2026 by International Business Magazine, adding an industry accolade to the crypto-backed lender as it expands beyond loans into broader digital-asset capital management. The Toronto-based company said the recognition covers a lending operation that has originated more than $1.45 billion in crypto-backed loans since its launch in 2020. International Business Magazine lists a 2026 awards programme and says its […]
By Dr. Gyan Pathak The talks between the representative of the United Forum of Bank Unions (UFBU) and the Indian Banks’ Association (IBA) held on September 4 has failed. On the one hand, UFBU has said that they are not in a position to defer their multiple strike schedule in banks, beginning from September 11, […]
HONG KONG SAR – Media OutReach Newswire – 5 September 2026 – The “Hong Kong Fashion Fest Gala 2026”, one of the eight flagship programmes of the third edition of Hong Kong Fashion Fest, was held on 3 September 2026. Sponsored by the Cultural and Creative Industries Development Agency (CCIDA) under the Culture, Sports and Tourism Bureau of the Government of the Hong Kong Special Administrative Region, and organised by the Hong Kong Fashion Council, this year’s Gala was held under the theme, “Rhythm of the Heart”, the same theme of the third edition of Hong Kong Fashion Fest. The Gala brought together fashion, art and culture in a cross-disciplinary celebration. The opening ceremony was officiated by the Secretary for Culture, Sports and Tourism, Miss Rosanna Law, JP and the Hon Sunny Tan, BBS, Legislative Council Member (Textiles and Garment) and Chairman of the Hong Kong Fashion Council. marking the official opening ceremony of this much-anticipated annual event on Hong Kong’s fashion calendar.
(From Left) Ms. Rainy Chan (Executive Director, Hong Kong Design Centre) Mr. Roger Chan (Chairman, Clothing Industry Training Authority) Mr. Steve Leung (Chairman, Hong Kong Design Centre) Hon. Sunny Tan, BBS (Chairman of the Hong Kong Fashion Council, and Member of the Legislative Council, the Honourable Sunny Tan, BBS.) Miss Rosanna Law, JP (Secretary for Culture, Sports and Tourism) Ms Sophia Chong (Executive Director, Hong Kong Trade Development Council) Mr. Kevin Yeung (Chairman, Hong Kong Fashion Designers Association) Dr. Elita Lam (Principal, Hong Kong Design Institute) Miss Drew Lai (Commissioner for Cultural and Creative Industries)
Speaking at the Gala, the Secretary for Culture, Sports and Tourism, Miss Rosanna Law, JP, saying: “Building on Hong Kong’s unique kinetic pulse and East-meets-West synergy, and with the Government’s steadfast backing through the Cultural and Creative Industries Development Agency, our creative ecosystem is thriving. Within this dynamic landscape, fashion design stands as an indisputable driving force. The Hong Kong Fashion Fest continues to champion fashion as a profound art form and a canvas for self-expression — one that weaves together vision, culture, and history.”
Meanwhile, Hon Sunny Tan, BBS, Legislative Council Member (Textiles and Garment) and Chairman of the Hong Kong Fashion Council, extended his gratitude to the participating organisers and industry partners for their steadfast support, saying: “The third Hong Kong Fashion Fest reflects the collective commitment of the Government, CCIDA and industry to advancing Hong Kong’s fashion development. With creative talent, international connectivity and strengths across trade, tourism, finance, and textile and apparel, Hong Kong has every ingredient to grow as an international fashion hub for Asia.”
In addition, rising favourite by international brands, Jeffrey Ngai and the popular stylish film actress Louise Wong attended the occasion in glamorous style. They were joined on the red carpet by leading fashion influencers and celebrities from Hong Kong and around the world, including Ameera Khan, Fil Xiaobai, Hanan Besovic, Irene Kim, Susanna Lau and Elva Ni. The star-studded presence added glamour and energy to the gala, highlighting Hong Kong’s extraordinary position and appeal as an international fashion hub.
Hong Kong Ballet × Robert Wun:
A Groundbreaking Cross-Disciplinary Stage Experience
One of the key highlights of the Hong Kong Fashion Fest Gala 2026 was “Glam Rock”, a specially presented three-act ballet performance by Hong Kong Ballet. Taking an innovative and bold approach to ballet, the production reinterpreted the art form by seamlessly blending classical and contemporary dance. The performance was accompanied by iconic rock anthems from Queen, Depeche Mode, and the legendary Hong Kong band Beyond. The powerful rhythms and dynamic physicality of the dancers delivered an exhilarating and refreshingly unconventional experience for the audience.
The dancers performed in bespoke costumes designed by internationally acclaimed Hong Kong designer Robert Wun. Renowned for his cinematic and sculptural silhouettes and refined narrative-driven aesthetics, Wun’s designs became another visual highlight of the evening. Through “Glam Rock”, world-class choreography, avant-garde fashion and rock music converged into a wholesome and unique artistic expression, offering guests a profound stage experience that combined visual spectacle with cultural references. The production vividly embodied the urban rhythm and creative pulse at the heart of this year’s theme, “Rhythm of the Heart.”
“Top 10 Asian Designers to Watch” Fashion Show and Award Presentation:
Showcasing the Next Generation of Asian Fashion Talent
Another major highlight of the Hong Kong Fashion Fest Gala 2026 was the “Top 10 Asian Designers to Watch Fashion” Fashion Show & Awards Presentation Ceremony,” which showcased the exceptional craftsmanship and distinctive creative visions of ten outstanding designers from different parts of Asia. With a multitude of design languages and cultural sentiment, the showcase presented the dynamic multi-cultural fashion spectacle and forward-thinking approaches to fashion and aesthetics.
Sponsored by the Cultural and Creative Industries Development Agency (CCIDA), Fashion Asia Hong Kong’s “10 Asian Designers to Watch” programme is presented by the Hong Kong Design Centre. The programme is dedicated to discovering and promoting the next generation of Asian design talent, and to provide emerging designers with greater visibility, professional exchange and industry opportunities.
The issuer is solely responsible for the content of this announcement.
About Hong Kong Fashion Fest
Announced by the Hong Kong Special Administrative Region Chief Executive in the 2023 Policy Address, “Hong Kong Fashion Fest” will be organised to develop Hong Kong into a fashion design hub in Asia. Through consolidating various fashion design events and introducing innovative elements and affiliate activities annually, the Hong Kong Fashion Fest promotes Hong Kong’s fashion and textile design brands and boosts Hong Kong’s position as a prime destination for hosting mega cultural and creative events. Under the theme “Rhythm of the Heart”, the third edition of Hong Kong Fashion Fest is being held from 1 to 14 September 2026 at various landmarks in Hong Kong. The event will bring together eight flagship programmes organised by six industry organisations and, for the first time, will be combined with CENTRESTAGE – the annual fashion extravaganza organised by the Hong Kong Trade Development Council – to generate stronger synergies. The event will attract fashion design industry players from all over the world to come to Hong Kong; foster collaboration, innovation and business opportunities; establish platform for local and international fashion designers and brands and connect with different sectors in the fashion design industry of Hong Kong, the Chinese Mainland and overseas, thereby consolidating Hong Kong’s position as the East-meets-West centre for international cultural exchange.
About Cultural and Creative Industries Development Agency (CCIDA) The Cultural and Creative Industries Development Agency (CCIDA), formerly known as Create Hong Kong (CreateHK) since 2009, was established in June 2024. CCIDA is a dedicated office under the Culture, Sports and Tourism Bureau of the Government of the Hong Kong Special Administrative Region (HKSAR Government) to provide one-stop services and support to the cultural and creative sectors with a mission to foster a conducive environment in Hong Kong to facilitate development of the arts, culture and creative sectors as industries. CCIDA’s strategic foci are nurturing talent and facilitating start-ups, exploring markets, promoting cross-sectoral and multi-disciplinary collaboration, promoting industrialisation of the arts, culture and creative sectors under the industry-oriented principle, and fostering a creative atmosphere in the community, thereby reinforcing Hong Kong as Asia’s creative capital and our positioning as the East-meets-West centre for international cultural exchange.
Disclaimer: The Government of the Hong Kong Special Administrative Region provides funding support to the project only, and does not otherwise take part in the project. Any opinions, findings, conclusions or recommendations expressed in these materials/events (or by members of the project team) are those of the project organisers only and do not reflect the views of the Government of the Hong Kong Special Administrative Region, the Culture, Sports and Tourism Bureau, the Cultural and Creative Industries Development Agency, the CreateSmart Initiative Secretariat or the CreateSmart Initiative Vetting Committee.
About Hong Kong Fashion Council Established in 2024, Hong Kong Fashion Council is a not-for-profit representative body dedicated to uniting all fashion initiatives in Hong Kong to support the growth of the fashion industry. HKFC envisions Hong Kong as Asia’s leading international fashion hub, leveraging the city’s unique geographical and multicultural context to drive creativity, innovation, collaboration, and sustainability in fashion. Committed to supporting stakeholders throughout the entire fashion ecosystem, HKFC is building a collaborative network between the East and the West to showcase Asia’s vibrant fashion identity.
The World Meteorological Organization has warned that the developing El Niño could become the strongest observed in decades, sharply increasing risks of extreme heat, droughts and floods into 2027. The UN weather agency said El Niño is now firmly established across the tropical Pacific and is expected to strengthen into a very strong event before peaking towards the end of 2026. Forecasts from WMO global prediction centres […]
The International Monetary Fund has confirmed that all bitcoin added to El Salvador’s official holdings since June 2025 came from private donations, with no public resources used to expand the country’s cryptocurrency position. The disclosure was contained in an IMF statement issued after staff reached agreement with Salvadoran authorities on the combined second and third reviews of the country’s $1.4 billion Extended Fund Facility. The Fund said […]
The yen remained on course for its strongest weekly advance in more than a month on Friday, while the dollar gave back much of an initial jump after stronger-than-expected US employment data lifted expectations of a Federal Reserve rate increase this month.
The Japanese currency traded around 155.7 per dollar after a volatile session, having surged sharply earlier in the week as investors increased bets that the Bank of Japan could tighten policy faster than previously anticipated. The move brought the yen close to levels last seen after joint US-Japan currency intervention in July.
US nonfarm payrolls increased by 162,000 in August, well above the 56,000 gain economists had expected, while the unemployment rate held at 4.1 per cent, according to the Bureau of Labor Statistics. June and July payroll figures were also revised higher by a combined 55,000 jobs.
Employment gains were concentrated in food services and drinking places, which added 62,000 jobs, and local government education, which gained 42,000. Construction added 22,000 positions and manufacturing 16,000, while information employment declined. The average private-sector workweek edged up by 0.1 hour to 34.4 hours during August, official data showed.
The dollar initially strengthened after the release as traders raised the probability of a Federal Reserve rate increase at its September 15-16 meeting. Fed funds futures implied roughly a 59 per cent chance of a quarter-point rise after the data, up from about 50 per cent beforehand.
Those gains faded as investors turned attention to next week’s inflation figures, which are expected to play a decisive role in the Fed’s assessment. Producer-price data are due on Thursday, followed by consumer-price figures on Friday. Economists expect annual core consumer inflation to ease to 2.4 per cent from 2.5 per cent in July.
The dollar index, which tracks the US currency against six major peers, was up about 0.1 per cent at 99.10 later in the session. The euro was little changed around $1.162, while sterling held near $1.35 after showing limited reaction to the US employment report.
The yen’s weekly strength has been driven primarily by expectations of further Bank of Japan tightening. Markets were pricing a high probability of a 25-basis-point increase at the central bank’s September 17-18 meeting after policy board member Hajime Takata said officials should act nimbly to counter intensifying inflation pressures rather than adhere to a predictable schedule.
Speculation about a larger or faster sequence of rate increases has also encouraged investors to unwind short-yen positions that had accumulated while Japan maintained substantially lower borrowing costs than other major economies.
Japan’s top currency diplomat, Atsushi Mimura, said on Friday that authorities remained alert to exchange-rate movements, maintaining Tokyo’s warning that it was prepared to respond to excessive volatility. Officials have repeatedly stressed that intervention is aimed at disorderly market moves rather than defending a specific exchange rate.
The yen had approached 155.21 per dollar, the strongest level reached after July’s coordinated intervention. A sustained break beyond that level would put the currency at its strongest point since early May.
The broader policy outlook remains finely balanced. Fed Governor Christopher Waller said on Thursday that he was inclined to support unchanged rates if incoming data confirmed that inflation pressures were cooling, tempering expectations of an imminent increase before the payrolls figures were released.
Wage data offered some support for that argument despite the stronger hiring numbers. Average hourly earnings rose 0.3 per cent in August and were 3.1 per cent higher than a year earlier, the weakest annual increase since June 2021.
Higher Japanese government bond yields have also fuelled speculation that domestic investors could shift some overseas holdings back to Japan. Market participants have focused particularly on insurers and pension funds with large foreign-asset portfolios as relative returns on Japanese debt improve.
Meta has begun rolling out Muse Spark 1.3 through its Muse Code coding agent and Meta Model API, saying the upgraded artificial intelligence model delivers stronger performance across coding and agentic tasks without raising prices from the previous version. The company said the model, released on Wednesday, is designed to handle longer workflows while making fewer unnecessary moves. Muse Spark 1.3 remains priced at $1.25 per million […]
Iran’s worsening fiscal squeeze is spilling into daily life as collapsing oil revenue, a record-low currency and surging prices force Tehran to balance military demands against the cost of keeping fuel, food and other essentials affordable. The pressure has sharpened after Iranian crude exports fell to roughly 260,000 barrels a day in August from about 1.7 million before the latest tightening of US economic pressure, draining the […]
Pessimism sells. It always has. But investors who let fear set their strategy this year are, I believe, about to miss one of the more compelling setups markets have offered in some time. Eveywhere I look, the mood among investors feels heavier than the numbers actually justify. There is talk of central bank brinkmanship, and a market supposedly one bad news day away from falling apart, among […]
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