Hong Kong beautician gets 4 years for selling friends to Myanmar scam hub
A Hong Kong beautician has been sentenced to four years in jail for tricking two friends into forced labour and confinement in Myanmar's notorious "KK Park" scam farm, with a judge slamming her actions as "vicious and inhumane".
This week, a summit of global finance leaders will convene in Hong Kong to probe whether traditional investment methods can withstand mounting geopolitical tensions and the swift growth of artificial intelligence. Concerns have been mounting since US President Donald Trump announced a potential new wave of strikes on Iran, and after technology stocks took a sharp tumble on Friday, raising doubts over the longevity of the AI investment surge.
The "Rethinking the Playbook" theme of this fifth annual Global Financial Leaders’ Investment Summit, organized by the Hong Kong Monetary Authority (HKMA), will serve as a forum for these heavyweight financial figures to discuss persistent macroeconomic headwinds, such as the impact of higher interest rates and the possibility of stricter regulations on AI.
Delegates are expected to explore ways to funnel private and patient capital into regional growth initiatives while addressing macroeconomic challenges. Tommy Ong, managing director of consultancy T.O. & Associates, foresees that participants' perspectives on AI will be under close scrutiny.
The summit's agenda includes three sessions dedicated to AI, exploring investment prospects in power grids and data facilities, AI's contribution to productivity gains of the digital revolution, and distinguishing speculative investments from sustainable returns. Chief Executive John Lee Ka-chiu will kick off the three-day event with a welcome dinner on Monday, followed by the main conference at the Four Seasons Hotel on Tuesday.
The summit is expected to attract around 280 delegates, including approximately 120 group chairmen and chief executives. Barclays group CEO C.S. Venkatakrishnan is set to return after missing the past two years, while UBS group CEO Sergio Ermotti makes his debut appearance. Other notable speakers include HSBC group CEO Georges Elhedery, JPMorgan Chase vice-chairman Daniel Pinto, and Bank of China president Zhang Hui.
The gathering also serves as an opportunity for Hong Kong to showcase its economic reforms and strengthen its position as an international financial hub amid competition with cities such as Singapore, London, and New York. The summit will take place less than two months after the Hong Kong government unveiled its first five-year plan, which aims to bolster the city's international financial standing.
Written by urgent.news from SCMP Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
