Author: Verified News Online

AdvertisementHong Kong propertyBusinessHong Kong’s Kerry Properties secures Shau Kei Wan residential plot for US$177 millionKerry beat seven bidders for the rights to develop a residential project on the 1,349-square-metre parcel in the Eastern district
Reading Time:2 minutesWhy you can trust SCMPCheryl ArcibalPublished: 5:00pm, 16 Feb 2026Hong Kong-based Kerry Properties has won a tender for a residential plot in Shau Kei Wan for HK$1.38 billion (US$177 million), which drew heavy bidding interest from both mainland Chinese and local developers.Kerry beat seven other bidders for a 50-year grant for the 1,349-square-metre (14,523 sq ft) parcel in the Eastern district, the Lands Department said on Monday.
The plot was expected to provide a total gross floor area of over 130,000 sq ft, yielding around 300 residential units, according to Kerry.
Advertisement“We are delighted that Kerry Properties has successfully secured the site at Shau Kei Wan Main Street East,” said Calvin Tong, directo..

Saudi Arabia records 21,029 violations in one week during nationwide inspection campaign/Representative Image A nationwide inspection drive carried out across Saudi Arabia has resulted in more than 21,000 violations in just seven days, with authorities issuing a renewed warning of severe penalties for those who breach or assist in breaching the law. According to the Ministry of Interior, inspection campaigns conducted between February 5 and 11 to ensure compliance with residency, labour and border security regulations recorded 21,029 violations. Of these, 12,875 were related to residency laws, 4,778 were linked to border security regulations and 3,376 involved labour law violations. Border authorities also apprehended 2,307 individuals attempting to cross into the Kingdom illegally during the same period. The ministry stated that 47 percent of those arrested were Yemeni nationals, 52 percent were Ethiopian nationals and 1 percent were from other nationalities. In addition, 75 people we..

Philippine Missions in UAE Cut Hours During Ramadan: Are Services Being Hindered? As the holy month of Ramadan 2026 approaches, with the crescent moon sighting expected around 19 February, embassies and government offices across the United Arab Emirates (UAE) have begun updating service schedules and working hours to accommodate shorter days and fasting practices. Among them, the Philippine Embassy in Abu Dhabi and the Philippine Consulate General in Dubai and the Northern Emirates recently announced revised operational timings for consular services, passport renewals, civil registry transactions and other public-facing services during the month of Ramadan.New Philippine embassy and UAE consulate hours in Ramadan 2026According to official advisories, the Philippine diplomatic missions in the UAE will operate on shortened hours throughout Ramadan, aligning with the spirit and practical needs of the month:Monday to Thursday: 07:30 am – 2:30 pmFriday: 07:30 am – 12:00 pmRegular working ho..

AdvertisementArtificial intelligenceTechBig TechByteDance AI video tool Seedance accused by Disney of copyright ‘smash and grab’Governments also attack Seedance for violations, but the controversy could just be a PR strategy, one analyst says
Reading Time:2 minutesWhy you can trust SCMPVincent ChowPublished: 5:07pm, 15 Feb 2026Updated: 5:10pm, 15 Feb 2026ByteDance’s latest video generation model Seedance 2.0 has blown people away for its ability to rapidly generate lifelike videos, but is also receiving blowback globally for alleged intellectual property (IP) violations.The controversy focuses on TikTok-owner ByteDance’s alleged use of copyrighted content to train its artificial intelligence model, as videos of Hollywood celebrities, Disney characters and comic book heroes generated by Seedance have flooded the web in recent days.On Saturday, Disney sent a cease-and-desist letter accusing ByteDance of a “virtual smash-and-grab of Disney’s IP”, as its new model can purportedly generate ..

AdvertisementBanking & financeEconomyChina EconomyChina expands oversight of major banks amid property sector risksBeijing continues to impose stricter regulatory standards on major lenders, shielding the financial system from mounting strains
Reading Time:2 minutesWhy you can trust SCMPCarol Yangin BeijingPublished: 5:00pm, 15 Feb 2026China has expanded its list of domestic systemically important banks (D-SIBs) – institutions subject to tighter regulatory standards – as authorities step up macroprudential oversight to safeguard financial stability amid high exposure to property sector debt.China Zheshang Bank, a joint-stock lender in east China’s Zhejiang province with total assets of 3.35 trillion yuan (US$485 billion), was added to the list released on Friday by the People’s Bank of China and the National Financial Regulatory Administration (NFRA).The D-SIB list now stands at 21 institutions, up from 19 when it was first published in 2021. It includes six state-owned commercial bank..