4 d. ago Kim’s sister spotted with suspected luxury Chinese foldable phone

Kim Yo-jong, the powerful sister of North Korea’s supreme leader, has been spotted with what appears to be a Chinese-made foldable phone. Images released by state media on Sunday showed Kim holding the phone in her right hand during a trip to a hospital opening alongside her brother, Kim Jong-un. Although the brand name cannot be seen in the picture, the phone closely resembles the Chinese brand Honor’s “Magic” line, advertised as “the world’s thinnest foldable smartphone”. The V3 model of the...

Politics

2 w. ago Luxury brands face probe over alleged Chinese worker exploitation in Italy

Italian prosecutors on Thursday named Gucci, Prada, Versace and Yves Saint Laurent as among 13 luxury brands suspected of using subcontractors who exploited migrant workers in Italy, as part of a growing investigation into sweatshop conditions. Milan prosecutor Paolo Storari issued requests for information about alleged abuses by the brands, although they are not yet under formal investigation. It is the biggest expansion to date of a probe launched last year into the luxury sector, which has...

Economics

2 w. ago From chips to noodles: the newcomers testing Hong Kong’s buoyant IPO market

Hong Kong’s booming fundraising market is set for another busy week, with four companies scheduled to debut this week and a string of billion-dollar listings – including Chinese luxury electric vehicle maker Avatr Technology – lining up behind them. Among this week’s newcomers, chip materials supplier Guangdong Tianyu Semiconductor plans to raise the highest sum, seeking up to HK$1.74 billion (US$223.42 million) from the sale of 30.07 million shares. The shares have been priced at HK$58 each....

Economics

3 w. ago Chinese homeless man fakes wealth, hires women for companionship, lives luxury life

A homeless Chinese man deceived others by posing as a wealthy individual and, over a span of 10 days, managed to “hire” five women for companionship, using their money to fund visits to high-end establishments, buy new clothes, and even acquire the latest smartphone. The scam came to light in August when police in Putuo District, Shanghai, received a report from a woman using the alias Liu Qian. She claimed that she had been swindled by a 36-year-old man surnamed Chen, who pretended to be a...

Society

3 w. ago ‘The years of the Chinese gold rush are over’ How China is redefining luxury – an interview with Ari Pugh

‘The years of the Chinese gold rush are over’ How China is redefining luxury – an interview with Ari Pugh  Dao Insights

Politics

4 w. ago US$44 million sale of Hong Kong luxury home linked to mainland Chinese investor

A buyer bearing the same name as veteran investor Xu Liusheng is the latest owner of a luxury home in Hong Kong after acquiring a HK$342 million (US$43.9 million) unit in the affluent Southern district, with the transaction adding to a growing list of prime assets being snapped up following years of falling prices. The buyer shares the name of the owner of Shenzhen Kaifu Investment, who is known for acquiring shares in public companies in mainland China. Shenzhen Kaifu was recently deregistered,...

Economics