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By Nitya Chakraborty Prime Minister Narendra Modi has taken the right move in sending a personal message to the new Prime Minister of Bangladesh Tarique Rahman by stating that “your victory is a testimony to the trust and confidence reposed by the people of Bangladesh in your leadership and their mandate for your vision to […]

The article Mending Fences With Bangladesh: Modi Has Taken The Right Move But The Task Is Too Tough appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

Singapore’s drive to harness artificial intelligence as an engine of economic growth is entering a decisive phase marked by abundant ambition and clear signs of strain across company ranks. Government fiscal policy and private-sector deployment are converging on AI, but weak data infrastructure, skills gaps and uneven returns are tempering expectations even as enterprises escalate investments and policy support grows.

Last week, the nation’s Budget for the 2026 fiscal year unveiled a suite of measures aimed at elevating AI adoption across multiple industries. Prime Minister and Finance Minister Lawrence Wong confirmed the establishment of a National AI Council, to be chaired by himself, tasked with coordinating research, regulation and investment to align public and private interests in developing AI capability. The plan also includes National AI Missions focused on advanced manufacturing, connectivity and logistics, finance and healthcare, sectoral areas where government and business leaders see the most potential for productivity gains and value creation. The budget expands fiscal incentives with enhanced tax deductions for AI-related expenditures over the next two assessment years and widened grant schemes to support adoption, workforce training and enterprise transformation. Leaders of major consultancies said these measures signal a shift from experimentation to enterprise-scale adoption and give firms a clearer pathway to embed AI into core operations.

Despite this policy momentum, data from industry surveys and corporate research paint a more nuanced picture of utilisation and outcomes. Adoption of AI tools in Singapore is now near universal among larger firms, with about 96 per cent reporting some level of use. But a significant gap remains between deployment and measurable returns on investment. Only a minority of organisations consider themselves leaders in achieving strong, sustained ROI, indicating an emerging disconnect between AI deployment at scale and operational readiness to turn it into business value. Executives widely acknowledge that sprawling and complex data environments, coupled with cybersecurity concerns, are contributing to operational friction and risks that constrain potential gains.

Private forecasts and vendor research suggest that enterprises are committed to accelerating AI spending even as returns lag. Surveys of business leaders show average investments in AI of around SG$18.9 million, with expectations for investment growth of roughly 38 per cent over the next two years and ROI projections rising to an average of 29 per cent during the same period. Yet analysts note that these returns will depend significantly on firms’ ability to bridge gaps in data readiness and workforce capability. Many Singapore companies acknowledge limited internal training, fragmented data integration and widespread informal use of ungoverned AI tools, all of which undermine robust enterprise-level strategy and governance structures.

Structural issues are as salient as technical ones. Industry leaders point to weaknesses in reliable data foundations and the need for stronger leadership alignment to embed AI into strategic operations rather than relegated to pilot projects or isolated business functions. Senior executives contend that competitive advantage over the coming decade will be determined less by technology choice and more by how effectively organisations build hybrid human-AI teams and integrate AI into everyday workflows.

Talent acquisition and retention also feature prominently in conversations around Singapore’s AI trajectory. Advanced AI, cloud and cybersecurity skills are in high demand globally and Singapore is no exception, with firms reporting difficulty scaling teams with the specialised expertise needed to support complex AI systems. This talent shortage both drives up costs and slows the pace at which organisations can absorb and leverage new technologies.

Cloud infrastructure and advanced digital foundations are another determinant of success. Financial services institutions in Singapore, for example, are among the most advanced globally in cloud adoption, with a majority running core workloads in cloud or hybrid environments that facilitate large-scale AI deployment. This infrastructure supports use cases ranging from compliance and risk management to fraud detection and transaction monitoring. However, budget constraints, talent gaps and integration challenges remain headwinds even in these relatively strong pockets of adoption.

Commentators outside the corporate sphere emphasize the importance of inclusive growth, noting that small- and medium-sized enterprises must not be left behind in the national AI push. Business federation and consultancy leaders warn that without targeted support for smaller firms to sustain, not just adopt, AI technologies, widening capability divides could undermine broader economic innovation and productivity goals.

By Nantoo Banerjee There is little to be excited about the defence ministry’s latest clearance for the acquisition of 114 Rafale fighter jets from France at a huge cost of Rs.3.25 lakh crore (nearly $40 billion), branded as ‘mother of all defence deals’. It is a matter of major concern that even 78 years after […]

The article India’s Reliance On Imported Arms For Defence Is A Concern appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

Gathering Global Experts Delivering Insights from the forefront of Space Science and Sustainability

HONG KONG SAR – Media OutReach Newswire – 16 February 2026 – In a landmark development for the region’s scientific community, Hong Kong has been selected to host the Asia-Pacific Regional IAU Meeting (APRIM) for the first time. Dubbed the “The Olympics of Astrophysics and Space Science,” this prestigious event will take place from May 4 to 8, 2026, at the Hong Kong Convention and Exhibition Centre (HKCEC).

Organised by the International Astronomical Union (IAU) and hosted by The University of Hong Kong’s Laboratory for Space Research (LSR), the conference will feature Nobel and Shaw laureates, together with other distinguished scientists from around the world. As a leading astronomical gathering in the Asia-Pacific, the event represents a significant milestone for Hong Kong, underscoring its pivotal role in fundamental research, STEM education, and international collaboration.

A Convergence of Minds in a Burgeoning Space Hub

Professor Quentin Parker, Chair of the APRIM2026 and Director of the HKU Laboratory for Space Research, noted that bringing the “The Olympics of Astrophysics and Space Science” to Hong Kong demonstrates the city’s capacity to serve as a global nexus for astrophysics and space science.

“As Chair of this historic meeting, I am honoured to welcome the global Astrophysics and Space Science community to Hong Kong. We aim to use this platform not only to showcase our city’s capabilities in the ‘New Space’ era but to inspire the next generation of scientists to pursue the unknown,” said Prof. Parker.

Professor Xue Suijian, former Deputy Director of the National Astronomical Observatories of the Chinese Academy of Sciences, attributed the IAU’s decision to Hong Kong’s highly international environment and academic excellence. He highlighted the city’s growing contributions to deep-space exploration, planetary science, and big data analysis, cementing its role as a bridge for international scientific exchange.

Bridging Fundamental Research and Future Possibilities

While rooted in academic rigour, APRIM 2026 also addresses the paradigm shift from government-led initiatives to the democratised era of “New Space.” The conference offers a platform that links theoretical astrophysics with real-world applications.

Aligning with the global scientific agenda, the conference is expected to bring together nearly 1,000 experts. Discussions will span from the origins of the universe to emerging directions in space exploration, covering key areas such as Planetary Science, Stellar Evolution, and Cosmology. The event will also seek to bridge academia and industry, exploring how frontier technologies can contribute to addressing global challenges.

Championing Space Sustainability

A defining feature of APRIM2026 is its focus on “Space Sustainability.” With the growing density of satellite constellations in low Earth orbit, the scientific community faces urgent challenges, particularly in relation to space debris and light pollution.

Through dedicated sessions and public engagement, the conference will tackle these critical issues, advocating for responsible stewardship of the cosmic environment. By integrating these discussions with outreach sessions including youth-focused workshops, the event aims to cultivate a scientifically literate generation ready to steward the future of space exploration.

Professor Luis C. Ho, Director of the Kavli Institute for Astronomy and Astrophysics at Peking University, described the meeting as a vital platform for strengthening Asia-Pacific research collaboration. He noted that the event marks a shift from pure fundamental research to industrial application, allowing high-tech solutions to serve the public and open the “blue ocean” of the space economy.

The issuer is solely responsible for the content of this announcement.

About the Organisations

International Astronomical Union (IAU) The IAU brings together over 13,000 professional astronomers from more than 85 countries. Its mission is to promote and safeguard the science of astronomy in all its aspects through international cooperation. For more information, please see the following link.: https://iau.org

HKU Laboratory for Space Research (LSR) is an interdisciplinary center at The University of Hong Kong dedicated to advancing space science, planetary research, and high-energy astrophysics through satellite research and academic collaboration. For more information, please see the following link.: https://www.lsr.hku.hk

Diamond Sponsor

• The Shaw Prize

Gold Sponsor

• Center for Space Utilization, Chinese Academy of Sciences (CSU)

Bronze Sponsor

• Hong Kong (International) Aerospace Charitable Foundation

Organisers

• Laboratory for Space Research of the University of Hong Kong (LSR)
• International Astronomical Union (IAU)

Official PR

• MEMO PLUS PR & CONSULTANTS

Supporting Organisations

• Feilong Aerospace Technology Ltd
• Orion Astropreneur Space Academy (OASA)
• Hong Kong Tourism Board
• Purple Mountain Observatory, Chinese Academy of Sciences
• The University of Hong Kong (HKU)
• Kavli Institute for Astronomy and Astrophysics at Peking University (KIAA-PKU)
• Satcom Industry Association (SIA-India)
• National Astronomical Observatories, Chinese Academy of Sciences (NAOC)
• International Centre for Radio Astronomy Research (ICRAR)
• International Space Centre at the University of Western Australia (ISC)
• Hong Kong Laureate Forum
• Our Hong Kong Foundation
• National Institutes of Natural Sciences (NINS)
• National Astronomical Observatory of Japan (NAOJ)
• Hong Kong Institute of Science & Innovation, Chinese Academy of Sciences
• Academia Sinica Institute of Astronomy and Astrophysics (ASIAA)
• Three Country Trusted Broker (TCTB)
• United Nations Office for Outer Space Affairs (UNOOSA)

For 12 days, the Spring Fair transformed VEC into a walkable map of 34 provinces, blending cuisine, culture and commerce inside Southeast Asia’s largest exhibition complex.

HANOI, VIETNAM – Media OutReach Newswire – 14 February 2026 – For nearly two weeks, the Spring Fair 2026 turned the Vietnam Exhibition Center into something few destinations manage to become: a condensed, high-definition portrait of an entire country.

As the fair drew to a close, what remains is not simply a tally of booths or sales figures, but the impression of a place that allowed visitors to move ‘through Vietnam’ at remarkable speed. Within a single afternoon, one could travel from the northern mountains to the Mekong Delta without leaving a 90-hectare venue on the outskirts of Hanoi.

Framed as “A Marketplace of 34 Provinces,” the event gathered regional economies, culinary traditions and cultural performances under one monumental roof. For many international visitors in Hanoi this spring, it became a defining stop on the city’s New Year cultural calendar.

A Country in One Afternoon

The scale was unapologetically large. More than 3,000 standard booths. Around 2,500 enterprises. Participation from 34 provinces and cities across Vietnam. Over 12 continuous days, the fair aimed for direct revenue of 1,000 billion VND and operated at a pace that rarely slowed.

Inside, the exhibition floor was organized into thematic zones such as “Vietnamese Cultural Essence” and “Vietnamese Agricultural Products – Connecting Spring”. The layout encouraged visitors to drift geographically. One moment, they stood in the northern region. Minutes later, they were tasting specialties from the south.

In the section representing Bắc Ninh, trays of bánh phu thê (sticky rice cake filled with mung bean paste, traditionally served at weddings) glowed under warm light. Nearby, vendors rolled out bánh cuốn Mao Điền (thin rice sheets wrapped around seasoned minced pork and wood ear mushrooms), the steam rising gently into the air. Nem chua (fermented pork sausage) was sliced into neat portions, while bundles of mì gạo chũ (sun-dried rice noodles from Bắc Giang) were arranged in pale, orderly stacks.

Further along, the scent shifted. At a booth from Sơn La, strips of thịt trâu gác bếp (smoked buffalo meat) were cut from darkened slabs and dipped into a dense sauce flecked with mắc khén (wild mountain pepper with a citrusy heat). The taste was smoky, slightly sweet and sharply spiced. At another stand, mắm tôm chua (fermented shrimp paste with chili and garlic) from Huế was wrapped with boiled pork belly and green banana slices, layered with fresh herbs to soften its tang.

In the southern cluster, bánh pía (flaky pastry filled with mung bean, salted egg yolk and durian) from Sóc Trăng were sliced while still warm, their layered crust collapsing delicately to reveal a rich interior. The aroma of durian lingered in the air, unmistakable and confident.

“I really liked how the space was designed according to each province’s characteristic… not only products, but also culture – music, people, traditional dress. It clearly shows very thoughtful experiential design,” said an American visitor during the event.

For business delegations, the appeal went beyond atmosphere.

“We came here to find Vietnamese partners for cashew nuts, cacao and coffee,” said Mandel V. Panizares, representative of Green Agricultural Products Trading in the Philippines. “Seeing the products directly and discussing at the booth; this ‘see and touch’ approach helps us evaluate quality and production capacity more clearly than just looking at profiles or images.”

Cultural performance threaded through the marketplace. Visitors found themselves mesmerized watching more than 50 performers in restored Nguyễn-era garments entered the main corridor for the “Hundred Flower Parade”. Gold embroidered nhật bình (formal imperial robes) shimmered beneath the hall’s lights. Ceremonial horses stepped carefully across polished floors as shoppers paused mid-conversation to watch.

“The parade is not just a performance, but a living cultural experience, where traditional Vietnamese attire, rituals, aesthetics and people exist together within the flow of daily life and commerce,” said Nguyen Thanh Nam, a member of the project team.

Across the 12 days, more than 40 cultural programs and hundreds of performances unfolded, including shows by the Vietnam Circus Federation and the Vietnam Puppet Theatre. Music, acrobatics and folk art existed in easy proximity to contract discussions and product demonstrations.

By the final weekend, it was clear that the Spring Fair had evolved into something more than an exhibition. It functioned as a temporary indoor festival city, layered with sound, flavor and movement.

The Platform Powering the Experience

The intensity of the experience was made possible by the Vietnam Exhibition Center itself.

Spanning 90 hectares, VEC is the largest exhibition complex in Southeast Asia and ranks among the top ten globally. At its core stands the Kim Quy Exhibition Hall, a 130,000 square meter column-free structure that provides uninterrupted interior space on a scale rarely seen in the region.

Built in just 10 months by Vingroup, Vietnam’s largest private conglomerate, and officially opened on August 19, 2025, the center welcomed 1.2 million visitors within its first three days of operation. Managing that volume required advanced crowd coordination, robust security systems and integrated logistics capable of operating at metropolitan scale.

The infrastructure extends well beyond the main hall. An 18-hectare parking area accommodates more than 10,000 vehicles. Nearly 1,200 electric vehicle charging ports form the largest EV charging station in Vietnam. Integrated storage zones, transport logistics and modern electronic payment systems allowed thousands of booths to operate simultaneously without visible strain.

VEC is also a member of the Bureau International des Expositions and serves as Vietnam’s official representative at global exhibition events, positioning it within the international exhibition circuit.

“We believe that, building upon this foundation, VEC will continue to thrive and evolve into a premier hub for major regional and international events. When operated at its full potential, VEC will emerge as a new symbol of a connected, prosperous, integrated, innovative, and sustainable Vietnam, thereby elevating our national standing in the country’s new era of ascent.”, said Mr. Tran Le Phuong, Chairman of the Board of Directors, Vietnam Exhibition Fair Center Joint Stock Company (VEFAC JSC).

During the Spring Fair, that capacity was visible in every operational detail. Corridors remained fluid at peak hours. Multiple stages operated without acoustic conflict. International delegations moved seamlessly between provincial booths.

“I highly appreciate the handicraft products of Hue and high-tech agricultural products of Thanh Hoa and Dong Thap,” said Ozasa Haruhiko, Chief Representative of JETRO Hanoi. “The diversity and quality here strengthen my confidence in Japan-Vietnam trade potential.”

As the 2026 edition concludes, the Spring Fair leaves behind more than transactions and photographs. It has demonstrated that Vietnam can stage large-scale exhibitions with cultural depth and operational precision inside world-class infrastructure.

Hashtag: #VEC #Vingroup

The issuer is solely responsible for the content of this announcement.

First-Ever Attack-Defence Simulation Aligns with Real Corporate Needs Setting a New Benchmark for Local Cybersecurity Competitions

HONG KONG SAR – Media OutReach Newswire – 13 February 2026 – As cyberattacks grow increasingly complex, cybersecurity has become a critical domain of global concern and a talent shortage. According to the latest “Hong Kong Cybersecurity Outlook 2026” released by the Hong Kong Computer Emergency Response Team Coordination Centre (HKCERT) under the Hong Kong Productivity Council (HKPC), nearly 30% of the 622 surveyed enterprises still lack dedicated cybersecurity staff. Specifically, only 26% of SMEs have a dedicated cybersecurity role, significantly lower than the 59% of large enterprises, reflecting a gap in resource allocation and technology adoption among SMEs.

To cultivate practical talent for the cybersecurity sector, the sixth “HKCERT Capture The Flag Challenge 2025” (HKCERT CTF Challenge) was successfully organised by the Digital Policy Office (DPO), HKPC, and HKCERT. This year’s competition was elevated to the first-ever adoption of an attack–defence mode, closely replicating the network setup of real enterprises. Participants experienced first-hand hacking techniques, system vulnerability analysis, threat intelligence gathering, and coordinated response in a simulated real-world environment. Through completing multiple tasks within a limited time, the competition also allowed them to break through the traditional classroom theoretical framework, gain practical experience and build confidence. The event attracted around 1,940 young contestants, an increase of nearly 40% from last year’s 1,385 participants, reaching a record high for the competition. Contestants included teams from Hong Kong, Chinese Mainland, Asia, and Europe, fostering cross-regional exchange and collaboration. In the finals, three local teams and one overseas team were awarded gold prizes in the Secondary School, Tertiary Institution, Open Category, and International Category respectively, while Sing Yin Secondary School received the “Best School Award”. The full list of awardees is available on the event website.

Participants Share Practical Experience Integrating AI into Attack and Defence
The competition was well received by contestants for its innovative format and realistic offensive and defensive environment, offering a valuable platform for learning and exchange. The winning team in the International Category, W&M, commented, “Our members are from Shanxi, Guangdong and Beijing. This was our first time competing together in the HKCERT CTF Challenge. The atmosphere and experience of the finals were excellent. The tasks were centred on an attack‑defence simulation, requiring us to find all vulnerabilities while patching our own systems and attacking other teams at the same time. Some vulnerabilities were discovered and exploited by other teams first, which kept the scores very close and made the competition incredibly tense and exciting”.

They added, “During the competition, we also applied lots of AI techniques for assistance, such as applying AI to analyse vulnerabilities and refine attack methods. In the future, AI may play a deeper role in areas like vulnerability detection and code analysis, but for now it cannot be fully relied upon—human oversight is still essential”.

HKCERT CTF Challenge has now been held for six consecutive years, with its scale expanding annually and participants showing continuous growth. Many secondary school students gain their first hands‑on exposure to cybersecurity through the competition and connect with university mentors, helping them shape their academic and career paths. Several past participants have gone on to compete in local and international events, committing to a future in the cybersecurity field. Beyond attracting overseas talent to exchange ideas in Hong Kong, HKCERT continues to build connections between cybersecurity professionals in Hong Kong and Chinese Mainland. Top‑performing teams can gain direct entry into equivalent finals in Chinese Mainland. For example, participants from the previous HKCERT CTF Challenge 2024 advanced directly to the finals of the “Greater Bay Area Cup Cybersecurity Challenge”, where they secured the top four places in the Hong Kong and Macao category. This also provided local contestants with access to world‑class cybersecurity techniques, effectively promoting cross‑regional elite collaboration and talent development.

Finals Format Upgraded: Attack-Defence Mode Mirrors Real Enterprise Operations
The finals were comprehensively upgraded this year. In addition to increase the overall technical difficulty, the competition introduced an attack‑defence format for the first time that closely mirrors real enterprise cybersecurity operations. Teams played dual roles—both attackers and defenders—in an environment created with reference to the real-world systems. The tasks simulated incident response and live attack-defence scenarios commonly encountered in the cybersecurity field. Within a limited timeframe, participants had to do penetration testing, exploit vulnerabilities and attack, while patching their own systems and monitoring threats in real time against attacks from other teams. This parallel attack‑defence setup reflects actual workflow patterns in the industry, effectively training participants’ analytical abilities and adaptability under pressure. Through hands‑on practice in a likely enterprise environment, contestants developed multifaceted, industry‑aligned capabilities—laying a solid foundation for their future careers in cybersecurity.

Ms Candy CHAN, Assistant Commissioner (Project Governance and Cybersecurity) of the DPO, highlighted the DPO’s commitment to enhancing Hong Kong’s cyber resilience, with one of its key initiatives being the nurturing of the next generation of cybersecurity professionals. She emphasised that the DPO has been collaborating closely with academia and industry partners to foster a robust talent pipeline and build a safer digital environment in Hong Kong. She noted that this year marks the sixth edition of the HKCERT CTF Challenge, which has grown into one of Hong Kong’s most respected and anticipated cybersecurity competitions over the years. Beyond being a contest of technical prowess, the Challenge serves as a dynamic platform for networking, knowledge exchange and community building among the new generation of cybersecurity experts.

Ir Samson SUEN, General Manager of Digital Trust and Transformation Division of HKPC, stated, “HKCERT CTF Challenge has consistently aimed to build an international platform for technical exchange. Through high-intensity simulated contests, we enhance participants’ cyber defence skills and promote cross-regional interaction among emerging cybersecurity talents. This cultivates a new generation of globally competitive professionals in Hong Kong and strengthens the local talent pipeline. This year’s finals first introduced a simulation of real-world cybersecurity operations, enabling teams to experience both offensive and defensive roles in a recent cybersecurity team. This hands-on approach is crucial for developing practical skills and incident response capabilities”.

Fostering Cybersecurity Awareness Across All Sectors of Society
To further enhance cybersecurity awareness across the community, HKCERT has partnered with the DPO and the Cyber Security and Technology Crime Bureau of The Hong Kong Police Force, to launch the “Building a Secure Cyberspace 2026” campaign to promote cybersecurity awareness. The initiative includes various educational activities, such as an “AI-Generated Four-Panel Comic”contest, which encourages the public to make good use of AI tools while strengthening their understanding of cybersecurity. At the corporate governance level, HKCERT will publish a series of practical guidelines addressing emerging risks —such as AI applications and supply chain security—highlighted in the “Hong Kong Cybersecurity Outlook 2026”, to support business in establishing a robust protection framework. In particular for AI governance, the guidelines will offer actionable recommendations covering AI system security assessments, compliance rules for employees using public AI platforms, controls over sensitive data input, and methods for monitoring and defending against AI‑assisted attacks. These resources aim to help enterprises systematically enhance their cyber resilience across governance, technology, and awareness.

As Hong Kong accelerates the development of innovation and technology and advances its digital economy, strengthening cyber defence capabilities has become a key talent need. HKCERT will continue to support businesses and the public through incident response, security guidance, and cybersecurity awareness programmes. The HKCERT CTF Challenge continues to play a vital role in nurturing local talent, fostering cross-regional collaboration, and advancing public education. By enhancing the overall level of protection, the competition contributes to the sustainable development of the digital economy and reinforces Hong Kong’s long‑term competitiveness.

The seventh edition of HKCERT CTF Challenge will be held in November 2026, featuring more innovative attack-defence challenges and continuing to set up an international category to provide local contestants with a platform for technical exchange with top teams from Hong Kong, Chinese Mainland, and overseas. Registration opens in September 2026, with finalists competing in the live finals in February 2027.

Hashtag: #HKCERT

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About Hong Kong Productivity Council

The Hong Kong Productivity Council (HKPC) is a statutory body established in 1967, dedicated to enhancing the productivity and competitiveness of Hong Kong enterprises through world-class applied R&D, innovative technology services, and integrated manufacturing solutions. As a market-oriented, international R&D organisation, HKPC leverages its deep expertise and extensive industry experience in key areas such as AI, advanced manufacturing, life and health technology, green technology and new energy to drive new industrialisation and support the growth of emerging and future industries.

HKPC focuses on addressing businesses challenges and industrial technology needs, promoting the full integration between technological and industrial innovation. Through technology transfer, product innovation, intellectual property protection and commercialisation of R&D outcomes, the Council fosters collaboration with the local business community as well as top global R&D institutions, delivering added value to industries and advancing the development of new productive forces. HKPC’s world-class R&D achievements have been widely recognised over the years, winning an array of local and overseas accolades, reinforcing Hong Kong’s role as an international innovation and technology centre and a smart city.

To help enterprises capitalise on Hong Kong’s strengths in international connectivity to expand into global markets, HKPC offers comprehensive overseas expansion services tailored to critical areas including product development, technology, manufacturing, and management, enabling businesses to successfully go global from Hong Kong.

HKPC is also committed to providing timely and practical support to SMEs and startups with timely and practical , assisting them in accessing Government funding programmes. Through its FutureSkills training initiatives, HKPC helps both industry and academia stay ahead in latest digital and STEM technologies, nurturing a future-ready talent pool for Hong Kong.

For more information, please visit HKPC’s website: www.hkpc.org/en.

Investigators allege Lodha, appointed to the company board in 2015 with authority limited to land acquisitions, abused his position by orchestrating a complex web of unauthorised transactions that siphoned funds and assets from the developer. The Enforcement Directorate’s case stems from a cheating and forgery complaint filed with Mumbai police under the Bharatiya Nyaya Sanhita, which provided the predicate offence for the money-laundering inquiry.

The probe suggests that Lodha, in collusion with his son Sahil and several associates, manipulated company land and transferable development rights through shell entities and front companies. One scheme of alleged manipulation involved purchasing parcels of land through intermediaries and later reselling them to the company at inflated prices, creating financial losses estimated at more than Rs 85 crore.

Investigators also outline the use of fabricated memoranda of understanding to designate false possession holders, enabling the accused to divert company funds under the guise of legitimate land transactions. In one instance cited by authorities, a 4,150-square-metre plot in Panvel was reportedly sold to an entity linked to Lodha for a fraction of its market value, resulting in a direct loss of around Rs 9.5 crore to the developer.

The Enforcement Directorate’s action follows months of coordinated inquiry involving searches and forensic analysis. Teams previously executed search operations at multiple locations across Mumbai and the wider metropolitan region to trace the alleged proceeds of crime and associated assets. These raids, conducted in the latter part of last year, targeted residential and business premises of individuals connected to the case as well as intermediary firms suspected of facilitating fraudulent transfers.

Law enforcement documents indicate that the probe has unearthed evidence of cash withdrawals, benami transactions, and the misuse of corporate resources for private benefit, augmenting the central agency’s view that the alleged laundering extended beyond routine bookkeeping irregularities. Officials have emphasised that the investigation remains active, with further custodial interrogation intended to identify additional participants and recover assets linked to the alleged illicit gains.

The case traces its origins to a complaint lodged by Lodha Developers — which has since evolved into one of India’s largest property firms — after its internal audits flagged a series of suspicious transactions that could not be readily explained through normal corporate activity. Following the filing of the police complaint in 2025, the Crime Branch initiated its own investigation under charges including fraud, criminal breach of trust and conspiracy, leading to the initial detention of Lodha and others.

Statements obtained by police during the early stages of the inquiry, including witness accounts, have been cited as instrumental in mapping the pattern of alleged diversion of funds. One individual who worked in Lodha’s employ reportedly provided details of large cash movements, while digital evidence extracted from electronic devices is said to have helped establish links between the transactions and the accused associates.

Industry observers noted that the unfolding of events has prompted renewed scrutiny of governance and oversight mechanisms within major real estate developers. Corporate governance experts point out that the case underscores the importance of transparent land acquisition processes and robust checks on executive authority to safeguard shareholder interests. While Lodha Developers has not publicly commented on the specifics of the case, companies facing internal fraud investigations often review compliance systems to reassure investors and regulatory bodies.

China’s Z. ai has propelled its artificial intelligence ambitions into the global spotlight with the launch of GLM-5, a 744-billion-parameter open-source large language model that stands toe-to-toe with leading Western counterparts and underscores Beijing’s drive for technological self-sufficiency. Released on 11 February by the company formerly known as Zhipu AI, GLM-5 combines advanced architecture with broad hardware compatibility and permissive licensing, signalling a shift in the global AI landscape.

The GLM-5 model, built on a mixture-of-experts framework and trained on an expanded dataset of roughly 28.5 trillion tokens, is designed for multifaceted tasks including coding, reasoning and agentic operations. Z. ai reports that the model’s performance on internal benchmarks approaches that of leading proprietary systems such as Anthropic’s Claude Opus 4.5, and on certain tests it outperforms Google’s Gemini 3 Pro. Its permissive MIT licence allows unrestricted commercial use and adaptation, making GLM-5 one of the most accessible frontier AI models available to developers and enterprises worldwide.

A standout feature of GLM-5 is its independence from American semiconductor technology. Trained and deployable on domestic Chinese chips from manufacturers like Huawei Ascend, Moore Threads, Cambricon and Kunlunxin, the model sidesteps reliance on high-end Nvidia GPUs that are constrained under US export controls. Z. ai’s use of the MindSpore AI framework further embeds the model within a Chinese software ecosystem, emphasising self-reliant technological development. This strategy exemplifies a broader push within China’s AI sector to mitigate the impact of external trade restrictions and build robust, locally supported infrastructures.

Market reception underscored the impact of GLM-5’s launch: Z. ai’s shares surged nearly 29 per cent on the Hong Kong Stock Exchange following the announcement, reflecting investor optimism about the company’s competitiveness and growth prospects. Industry analysts note that GLM-5’s arrival comes amid an acceleration of model releases and chip optimisation efforts by several Chinese AI firms, signalling more intense competition on both domestic and international fronts.

Benchmarks published by Z. ai highlight GLM-5’s strengths and limitations. On software engineering evaluations, the model achieved a score of 77.8 per cent on the widely referenced SWE-bench Verified suite, trailing slightly behind Claude Opus 4.5’s 80.9 per cent but outperforming other notable systems in agentic and multitask contexts. The architecture’s efficient handling of long-context sequences—up to 200 000 tokens—positions GLM-5 for applications requiring extensive reasoning over lengthy inputs.

GLM-5’s low cost of deployment also enhances its appeal. Analyses of pricing data suggest inference can cost around US $1 per million tokens, a fraction of the fees charged by some proprietary APIs, potentially lowering barriers for startups and research teams seeking cutting-edge language modelling without prohibitive expenditure. The MIT licence further expands this accessibility by granting broad rights to adapt and deploy the underlying model weights in commercial and research settings.

Despite its technical achievements and open licensing, experts caution against over-interpretation of benchmark results as definitive proof of superiority. Performance under controlled test conditions does not always translate to uniformly strong real-world applications, particularly in generative and reasoning tasks where robustness and safety remain critical hurdles. Some observers also warn that differences between self-reported evaluations and independent assessments could emerge as the model is adopted more widely.

GLM-5’s emergence reflects broader trends within China’s AI ecosystem, where domestic firms and chipmakers are increasingly synchronised in advancing cutting-edge technologies. Industry developments suggest that model and hardware optimisation efforts are happening in near tandem, with architecture adaptations and inference support enabling faster incorporation of new Chinese semiconductor products. These developments sit against a backdrop of regulatory frameworks that increasingly emphasise the alignment of AI systems with government objectives, including content governance and cybersecurity considerations.