Category: Media-OutReach

HONG KONG SAR – Media OutReach Newswire – 28 February 2025 – Driving innovation and technology was a key focus of Hong Kong SAR’s Financial Secretary Paul Chan’s 2025-26 Budget. Identifying Artificial Intelligence (AI) as being at its core, Mr Chan said Hong Kong would leverage its competitive edge under the “one country, two systems” principle to become an international exchange and co-operation hub for the AI industry.

“Through frontier research and real-world application, we will endeavour to develop AI as a core industry and empower traditional industries in their upgrading and transformation,” he said.

Financial Support

As the latest effort, the Financial Secretary set aside HK$1 billion for the establishment of the Hong Kong AI Research and Development Institute, to spearhead and support Hong Kong’s innovative R&D as well as industrial application of AI.

In terms of fund-raising for tech enterprises, the Hong Kong Exchanges and Clearing Limited is taking forward the establishment of a dedicated “technology enterprises channel” (TECH) to facilitate the relevant companies in preparing for listing applications, Mr Chan said.

To foster smart manufacturing, the Financial Secretary set aside HK$100 million for the planned launch of the two-year Pilot Manufacturing and Production Line Upgrade Support Scheme (Manufacturing+) this year. Under Manufacturing+, the Government would provide funding of up to HK$250,000 each on a one-to-two matching basis to enterprises operating production lines in Hong Kong to support their formulation of smart production strategies and introduction of advanced technologies into existing production lines.

Fostering Frontier Research

Mr Chan said the Hong Kong Space Robotics and Energy Centre, set up under the InnoHK Research Clusters, is aiming to develop a multi‑functional lunar surface operation robot, which will contribute to the country’s Chang’E‑8 mission.

 

The Government has also started preparatory work for the establishment of the third InnoHK research cluster, which will focus on advanced manufacturing, materials, energy and sustainable development.

International Exchange and Co-operation Hub

To promote international exchange and co-operation on AI, Mr Chan revealed several high-level events to be hosted in Hong Kong.

The Hong Kong Investment Corporation (HKIC) will host the first International Conference on Embodied AI Robot, gathering top‑notch technology enterprises, academic institutions and investors to showcase the latest R&D outcomes and application scenarios.

To bring together top talents in the industry to study the development and application of AI, the HKIC will also host the first International Young Scientist Forum on Artificial Intelligence, promoting research of AI technology and its development as an industry.

Other pro-innovation initiatives

Meanwhile, the interdepartmental Working Group on Developing Low‑altitude Economy, established at the end of last year, is examining the applications for the first batch of Regulatory Sandbox pilot projects, with a view to expanding the scope of low‑altitude flying activities. The Government is also reviewing civil aviation legislation to enhance the regulatory regime in support of long-term development of the low‑altitude economy.

At the same time, with Low Earth Orbit satellites being a new trend in global satellite development, Mr Chan said the Government was exploring a set of streamlined procedures for vetting licence applications for operating Low Earth Orbit satellites.

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HONG KONG SAR – Media OutReach Newswire – 27 February 2025 – Hong Kong SAR’s Financial Secretary Paul Chan delivered his 2025-26 Budget yesterday (February 26), with clear path and initiatives to rein in the deficit, while accelerating the city’s development and maintaining its competitive edge of a low and simple tax regime.

“The key is managing expenditure growth, making good use of the Government’s fiscal resources, and identifying new revenue resources,” Mr Chan said.

He forecast a consolidated deficit of $87.2 billion for 2024/25 with the Operating Account returning to surplus within two years.

The deficit, Mr Chan said, was largely due to the impact of counter-cyclical measures launched in response to the COVID-19 pandemic as well as challenges such as the geopolitical landscape and related disruptions to trade, supply chain, cash flow and sentiment in the investment market.

Under a proposed “reinforced version” of the fiscal consolidation programme, Mr Chan announced a range of measures, including a cumulative reduction of 7% in government expenditure by 2027-28, compared to the level in 2024-25.

The Government has also put forward that the executive authorities, the legislature, the judiciary and members of the District Councils take a pay freeze for 2025-26. That includes, among others, the Chief Executive and all politically appointed officials, and all civil servants.

The civil service establishment will be reduced by 2% each in 2026-27 and 2027-28, with about 10,000 posts expected to be deleted within the next two years.

“The Government has all along endeavoured to deliver more efficient public services to citizens through leveraging technology, streamlining processes and driving the digital transformation of public services,” Mr Chan said.

Meanwhile, the conditions of the two public transport fare subsidy schemes will be adjusted, with expected saving of $6.2 billion in the next five years.

Alongside controls on government expenditure, the Financial Secretary proposed a raft of measures to boost revenue, notably by adjusting some government fees and charges under the “user pays” and “affordable users pay” principle.

These include, for example, reviewing government fees and charges for road users in relation to some tunnel tolls, trunk roads, licences and parking charges, and increasing the rate of air passenger departure tax from $120 to $200 per passenger starting from October 2025.

The Financial Secretary noted that issuing bonds to support infrastructure development is a common practice worldwide.

To take forward major infrastructure projects, particularly the Northern Metropolis development, Mr Chan said “Hong Kong has the prerequisite and capability to suitably increase bond issuance, thereby effectively utilising market resources.”

“With the increase in capital works expenditure, I will expand the scale of bond issuance accordingly. It is expected that during the five-year period from 2025-26 to 2029-30, a total of about $150 billion to $195 billion worth of bonds will be issued under the Government Sustainable Bond Programme and the Infrastructure Bond Programme every year.” He remarked that bonds will not be issued to fund government recurrent expenditure; instead, they will be used to invest in infrastructure only.

The ratio of Hong Kong SAR Government debt to GDP will stay at 12 to 16.5 per cent, which is a prudent and manageable level, and is much lower than most of the advanced economies, Mr Chan emphasised.

A 2 Billion THB Investment in Pediatric Excellence and Smart Hospital Innovation

BANGKOK, THAILAND – Media OutReach Newswire – 27 February 2025 – Samitivej Hospital, a leader in pediatric care, unveils its newly expanded standalone Samitivej International Children’s Hospital at Samitivej Srinakarin Hospital. Backed by a 2 billion THB investment, the expansion strengthens Samitivej’s commitment to becoming Asia-Pacific’s Leading Pediatric Referral Hub, providing specialized care, innovative treatments, and seamless medical coordination.

The upgraded facility serves patients from Thailand and beyond, earning a strong reputation in Vietnam, Laos, Cambodia, Indonesia, Brunei, Saudi Arabia, the UAE, Kuwait, Oman, and Qatar, reinforcing its global healthcare role.

Revolutionizing Pediatric Care with Advanced Treatments

Samitivej International Children’s Hospital redefines pediatric excellence, offering cutting-edge treatments for complex and rare conditions:

• Open-Heart Surgery to Minimally Invasive Catheterization – Complete heart care from birth, ensuring advanced treatment and faster recovery.
• Haploidentical Bone Marrow Transplant (BMT) to CAR-T Cell Therapy – Advanced treatments for blood disorders and cancer.
• Comprehensive Pediatric and Newborn Surgery – Expertise in performing procedures from head to toe, led by specialized doctors.
• Epilepsy Treatment with Medication to Vagus Nerve Stimulation (VNS) Implants – Solutions for drug-resistant epilepsy.

Advancing Pediatric Excellence with Cutting-Edge Facilities

The new eight-floor hospital features 111 beds, including 12 for critically ill children and 8 neonatal intensive care beds. It integrates Smart Hospital technology for efficiency and patient-centered care. Key features include:

• Hybrid Operating Room: Precision-driven newborn and pediatric surgical procedures using biplane imaging technology.
• World-Class Pediatric Specialties: Multidisciplinary teams treating complex and rare conditions.
• Advanced Neonatal & Pediatric Intensive Care: Specialized care for premature infants under 500 grams.
• Cutting-Edge Rehabilitation Center: Robotic-assisted gait training, Hybrid Assistive Limb (HAL) therapy, and Redcord NEURAC systems.
• Comprehensive International Patient Services: Pre-arrival teleconsultations, aeromedical transport, multilingual care teams, follow-up appointments, and medical evacuation and repatriation.

Global Partnerships & Medical Expertise

Samitivej collaborates with Doernbecher Children’s Hospital (OHSU, USA) to enhance care for critically ill children, newborns, and trauma patients. A partnership with Takatsuki General Hospital (Japan) ensures specialized neonatal and allergy treatments, providing access to the latest pediatric advancements.

Pioneering Smart Hospital Innovations

Samitivej leads in digital healthcare, integrating technology to enhance efficiency and care:

• Well Kidz App: Manages medical records, appointments, and remote consultations.
• Smart ER & Smart Ambulance Services: Real-time monitoring ensures rapid emergency response.
• Smart OPD & Smart IPD: AI-powered cost estimation, queue tracking, and seamless patient-medical team communication.
• D-Discharge System: Streamlined hospital discharge for greater convenience.

Exceptional Pediatric Outcomes & Achievements

Samitivej delivers outstanding results:

• 7,000+ critical pediatric cases treated annually
• 1,000+ newborn and pediatric surgeries performed, including minimally invasive procedures
• 92% one-year survival rate for bone marrow transplants, surpassing global benchmarks
• 400+ newborns with heart conditions successfully treated through surgical correction
• Specialized care provided for premature infants with birth weights below 500 grams
• 98% trust rating from families

A Commitment to a Healthier Future for Every Child

Dr. Surangkana Techapaitoon, Deputy CEO of Samitivej and BNH Hospitals and Director of Samitivej International Children’s Hospital, stated:

“We want to see a healthier future for every child by integrating innovation, world-class expertise, and compassionate care. This facility strengthens our role as a leading pediatric referral hub, expanding access to specialized treatment and ensuring children everywhere receive the best care from infancy through adolescence.”

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About Samitivej Hospital

Samitivej is a JCI-accredited hospital group, offering world-class care since 1979. With seven hospitals, it is a leading provider of healthcare in Thailand and Southeast Asia, serving both locals and expatriates.

 

HONG KONG SAR – Media OutReach Newswire – 26 February 2025 – Paul Chan, Financial Secretary of the Hong Kong Special Administrative Region unveiled his 2025-26 Budget today (February 26). He noted that while geopolitical situation might bring risks, technology reform and artificial intelligence (AI) development are remoulding the global landscape, leading to the emergence of new industries, new forms of business, new products and new services. He stressed that Hong Kong must seize the opportunity to make the most out of this critical window to speed up development, establishing the new before abolishing the old. He also emphasised that transformation and innovation will lead the way into the future, and the Government is poised to fast-track the high-quality development of Hong Kong’s economy.

The Budget presents a series of measures aimed at accelerating the cultivation of new quality productive forces. On innovation and technology (I&T), the Government will promote Hong Kong into an international exchange and co-operation hub for the AI industry. Through frontier research and real-world application, the Government will endeavour to develop AI as a core industry and empower traditional industries in their upgrading and transformation. To spearhead and support Hong Kong’s innovative research and development as well as industrial application of AI, the Government will establish the Hong Kong AI Research and Development Institute and launch the Pilot Manufacturing and Production Line Upgrade Support Scheme (Manufacturing+). On finance, the Government will continue to take forward reforms to the listing regime, host the Hong Kong Global Financial and Industry Summit, and formulate a plan this year on promoting gold market development.

To seize the opportunities brought about by the rapid advancement of innovation and technology, the Budget highlights the need to accelerate the development of the Northern Metropolis, which is an investment in Hong Kong’s future. The Government will continue to accord priority to providing resources for this initiative, which primarily includes providing large tracts of I&T land at the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone, together with San Tin Technopole; adopting an innovative mindset in piloting “large-scale land disposal”; developing a data facility cluster at Sandy Ridge; as well as identifying suitable sites in the Northern Metropolis for the construction of conference and exhibition facilities.

On the promotion of tourism, funding will be allocated to pursue the concept of “tourism is everywhere” and implement the Development Blueprint for Hong Kong’s Tourism Industry 2.0. A study will be conducted on the development of the waterfront and former sites to the south of the Hung Hom Station in Kowloon into a new harbourfront landmark in Kowloon, including a yacht club.

Regarding land supply, Mr Chan announced that the Government will not roll out any commercial site for sale in the coming year in view of the high vacancy rates of offices in recent years to allow the market to absorb the existing supply. The Government will also consider rezoning some of the commercial sites into residential use and allowing greater flexibility of land use.

Mr Chan proposed a reinforced version of the fiscal consolidation programme to focus on strictly controlling government expenditure, supplemented by increasing revenue, to restore fiscal balance in the Operating Account, in a planned and progressive manner, within the current term of the Government. The Government will also deliver more efficient public services to citizens through leveraging technology, streamlining processes and driving the digital transformation of public services. Mr Chan said he will uphold the “user pays” and the “affordable users pay” principles as far as practicable while increasing revenue, including increasing the air passenger departure tax, and reviewing the tolls of government tunnels and trunk roads. The Government will suitably expand the size of bond issuance on the premise of maintaining healthy public finances and use the funds raised on infrastructure works in a proper and flexible manner to invest in Hong Kong’s future and create value for society.

More information about the 2025-26 Budget is available from www.budget.gov.hk.

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RIYADH, SAUDI ARABIA – Media OutReach Newswire – 26 February 2025 – In a significant move to advance financial literacy and empower employees with smarter financial solutions, Sahm Capital, a fintech-driven financial firm fully licensed by the Capital Market Authority (CMA) [License No. 22251-25], has signed a Memorandum of Understanding (MOU) with Eddekhar, a pioneering B2B digital savings platform. The partnership was formalized at CMF Riyadh 2025, a premier global financial forum that connects leading financial markets worldwide.

This collaboration seamlessly integrates Sahm Capital’s expertise in financial markets with Eddekhar’s innovative savings solutions, creating a comprehensive financial wellness ecosystem for employees. The initiative aims to instill sustainable savings habits and strategic investment awareness, enabling employees to build long-term financial security.

“At Sahm Capital, we believe that financial empowerment begins with education,” said Steven Chou, Chairman of Sahm Capital. “Through this partnership, Eddekhar simplifies the savings process, while Sahm Capital provides the investment solutions needed to grow and secure those savings for the future.”

Under this MOU, employees will have access to investment solutions tailored to their risk tolerance, along with tools to cultivate sustainable savings habits. Both companies share a common mission to enhance financial literacy and equip employees with the resources needed to achieve long-term financial security and wealth growth.

“Financial literacy is the cornerstone of long-term wealth building,” said Adnan Alkhiary, Founder & CEO of Eddekhar. “By joining forces with Sahm Capital, we are enabling employees to move beyond just saving—empowering them with the tools, knowledge, and access to investment opportunities that drive financial growth.”

Together, Sahm Capital and Eddekhar are redefining financial well-being, equipping employees with the knowledge and resources they need to achieve long-term financial stability, security, and prosperity.

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About Sahm Capital

Sahm Capital, registered in Riyadh, holds full regulatory licenses from the Capital Market Authority (CMA) to provide Dealing, Advising, Custody, Arranging, and Managing Investments and Operating Funds Activities in the Securities Business services (license no. 22251-25). As the first fintech-driven financial company to achieve full CMA licensing, Sahm Capital has established itself as the fastest-growing member of the Saudi Exchange, leveraging proprietary technology and innovative financial solutions to deliver seamless, one-stop financial services. For more information, visit: www.sahmcapital.com.

About Eddekhar

Eddekhar is a B2B digital savings platform that helps employees automatically set aside a portion of their salaries into dedicated savings accounts. By partnering with companies, we integrate directly with payroll systems making saving effortless and secure for employees.

We offer tailored investment options based on individual risk tolerance. This allows employees to grow their savings through carefully selected investment opportunities. Ensuring long-term financial stability and wealth-building. For more information, visit: https://www.eddekhar.com/en/.