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A Majority of Businesses Intrigued by the Potential of AI in Achieving Sustainability Goals Whilst Energy Consumption Concerns Persist

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1 year ago

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More than one in two organizations acknowledge gap in understanding how digital technology can facilitate achieving sustainability goals

HANGZHOU, CHINA – Media OutReach Newswire – 10 March 2025 – Over three quarters of businesses (76%) across Asia, Europe and the Middle East are intrigued by the potential of digital technologies, including AI and cloud computing in driving sustainable development, according to the latest survey report titled “Tech-Driven Sustainability Trends and Index 2024”, commissioned by Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group. However, the substantial energy consumption associated with these technologies is still reflecting a key barrier to broader adoption, as 61% of respondents still express concerns over the matter.

This interest in the potential of AI, cloud computing and other advanced digital technologies to support sustainable development varies across regions, with emerging Asian markets leading the way (83%), followed closely by the Middle East (78%), Europe (74%), and developed Asian markets (72%). Notably, the Philippines (91%), Singapore (84%), Indonesia (81%), and Thailand (81%), demonstrate particularly high interest.

Regional Variations in AI Adoption and Sustainability Efforts

Despite this optimism, 59% businesses acknowledge gap in understanding how digital technology can assist in achieving sustainability goals with Asia leading at 63%, followed by Europe at 61% and the Middle East at 45%. Around two thirds (62%) of executives believe their organizations are lagging in adopting cloud computing and AI to accelerate progress towards sustainability goals. This concern is particularly noted in Singapore (80%), the Philippines (77%), and Japan (75%) and Hong Kong SAR (75%), indicating a pressing need for organizations to accelerate their technological adoption to advance sustainability.

Overall, 82% of businesses agree that sustainable development in technology is paramount for their companies, with markets like Singapore (93%), the Philippines (91%), and Indonesia (89%) leading the charge. Companies increasingly recognize the multifaceted benefits of adopting digital technologies for sustainability including cost savings, improved operational efficiencies, and enhanced compliance with Environmental, Social, and Governance (ESG) regulations.

AI and machine learning are viewed as the most crucial digital technologies for advancing corporate sustainability, with businesses in the Middle East (52%) placing greater emphasis on their importance compared to Europe (41%), emerging Asian markets (40%) and developed Asian markets (36%). Meanwhile, 81% of businesses feel human oversight is needed in guiding the development of digital technologies, including AI tools with the Middle East feel the strongest at 91%, followed by emerging Asian markets at 83%, Europe at 82% and developed Asian markets at 74%.

However, the survey reveals a notable concern: 61% of respondents fear that the high energy consumption associated with digital technologies may hinder widespread AI adoption. This concern is even higher in Singapore (85%), the Philippines (77%) and Hong Kong SAR (75%). Furthermore, 71% of businesses believe that the substantial energy consumption of digital technologies such as powering AI may outweigh its benefits with the highest concerns from Singapore (86%), the Philippines (84%) and Malaysia (81%).

The report also highlights the importance of selecting technology providers that prioritize sustainability. When selecting a “green” cloud provider, approximately half of businesses prioritize those that use renewable energy (51%), maintain energy-efficient data centers (46%), and implement carbon footprint reduction initiatives (42%).

Commitment to Green AI and Open-source Innovation

“With feedback from decision-makers across 13 markets, the survey report sheds light on the current attitudes and challenges businesses face in adopting AI and cloud computing for sustainability,” said Selina Yuan, President of International Business, Alibaba Cloud Intelligence. “At Alibaba Cloud, we are committed to supporting businesses on their sustainability journeys with scalable and sustainable solutions. By pledging to use 100% clean energy by 2030 and improving the energy efficiency at our global data centers, as well as optimizing Generative AI capabilities such as large language models (LLMs) performance, AI can be a powerful tool to improve efficiency and optimize energy consumption.”

Alibaba Cloud has made notable progress in its green cloud initiatives. In the fiscal year ending March 31, 2024, the average power usage effectiveness (PUE) of the company’s self-built data centers improved to 1.200 from 1.215 the year before, with 56% of the electricity consumed coming from clean sources. Additionally, Alibaba’s green computing infrastructure has enabled clients to reduce their emissions by 9.884 million tons, a remarkable increase of 44% year-on-year.

In addition, Alibaba Cloud is at the forefront of democratizing AI through its open-source initiatives, making advanced AI technologies accessible and affordable for businesses of all sizes. By releasing cutting-edge open-source models from its proprietary large language model Qwen family, including Qwen2.5-VL and Qwen2.5-1M and its video foundation model Tongyi Wanxiang (Wan), Alibaba Cloud empowers developers to create task-specific AI applications that are both efficient and cost-effective. These open-source models have already inspired over 100,000 derivative models on Hugging Face, showcasing their global adoption and versatility. By promoting smaller parameter models, Alibaba Cloud reduces the cost and energy consumption of AI training and deployment, fostering a collaborative ecosystem that drives energy-efficient innovation.

Surveying 1,300 decision-makers across 13 markets, “Tech-Driven Sustainability Trends and Index 2024” aims to provide valuable insights into the evolving landscape of corporate sustainability. The survey report underscores the essential role of technology in driving impactful change, while highlighting the need for businesses to adopt AI and cloud computing responsibly to address energy consumption concerns and bridge the gap in sustainability efforts.

About the Survey

Alibaba Cloud’s “Tech-Driven Sustainability Trends and Index 2024” was independently conducted by Yonder Consulting, a business consulting firm, with advisory, design and analytical support from The Purpose Business, a sustainability consultancy. The survey collected feedback from May 10 to June 19, 2024, involving 1,300 business leaders and senior management from various industries, including technology and communications, finance, infrastructure, renewable resources, healthcare, transportation, retail, and manufacturing.

Respondents were located across 13 markets in Asia (Indonesia, Malaysia, the Philippines, Thailand, Hong Kong SAR, Japan, Singapore and South Korea), Europe (France, Germany, and United Kingdom), and the Middle East (Saudi Arabia and the UAE). In this survey, developed Asian markets refer to Hong Kong SAR, Japan, Singapore, and South Korea, while emerging Asian markets include Indonesia, Malaysia, the Philippines, and Thailand.

Hashtag: #AlibabaCloud

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

About Alibaba Cloud

Established in 2009, Alibaba Cloud () is the digital technology and intelligence backbone of Alibaba Group. It offers a complete suite of cloud services to customers worldwide, including elastic computing, database, storage, network virtualization services, large-scale computing, security, big data analytics, machine learning and artificial intelligence (AI) services. Alibaba has been named the leading IaaS provider in Asia Pacific by revenue in U.S. dollars since 2018, according to Gartner. It has also maintained its position as one of the world’s leading public cloud IaaS service providers since 2018, according to IDC.

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Hong Kong Company Formations Surge 40.5% in 2025, Outpacing Regional Competitors

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22 hours ago

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15/05/2026

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Air Corporate data reveals 9 in 10 founders incorporated in Hong Kong do so remotely, driven by a 20% surge in Middle Eastern entrepreneurs seeking cost-effective operational alternatives to Dubai.

HONG KONG SAR – Media OutReach Newswire – 15 May 2026 – Air Corporate registered a 40.5% increase in Hong Kong incorporations in 2025, with the first quarter of 2026 already up 48% year-over-year. This data indicates that Hong Kong is reasserting itself as the leading Asian jurisdiction for company formation, fueled by a new wave of remote founders from the Middle East, North Africa, and Europe.

The prevailing narrative over the past five years suggested that Singapore was eclipsing Hong Kong; however, recent incorporation volumes challenge this. According to city-wide official figures cited by Vivian, Founder of Air Corporate, approximately 195,000 companies were registered in Hong Kong in 2025, compared to around 77,000 in Singapore.

“There was a lot of fuss about Singapore taking over Hong Kong as preferred jurisdiction over the last few years, but for 2025 alone, around 195,000 companies were formed in HK, vs around 77,000 for Singapore,” said Vivian. While city-wide registrations rose roughly 35% in 2025, incorporations at Air Corporate specifically grew by 40.5%. Vivian added, “With a 35% increase in the number of companies registered in 2025, Hong Kong is definitely back in the game as the top jurisdiction to start a company.”

The reality of Hong Kong company formation is increasingly global, lean, and founder-led. Nine in ten founders incorporated in Hong Kong with Air Corporate do not live there.

Key demographic and operational insights from Air Corporate’s client base include:

  • Approximately 90% of founders operate remotely from abroad, while 10% or less are based in Hong Kong.
  • Entrepreneurs aged 35 to 44 represent the largest age cohort at 38%, demonstrating that Hong Kong attracts founders in their prime career years rather than just younger digital nomads.
  • Serial entrepreneurs make up 60% of Air Corporate’s client mix, utilizing Hong Kong as an operational base for multiple companies, while first-time founders account for the remaining 40%.
  • A total of 89% of new companies are launched by solo founders (58%) or small teams of two to five individuals (31%).
  • Mainland China, Hong Kong, Turkey, India, the UAE, Australia, France, and Morocco rank among the top source markets for these founders.

Furthermore, 73% of new Hong Kong incorporations are directly tied to physical goods trade with China. This consists of e-commerce and dropshipping businesses (38%) and the trading of goods (35%). The recovery of in-person trade flows, including events, such as the Canton Fair and various industrial fairs, is pulling foreign founders back into the Greater China orbit and establishing Hong Kong as the natural entry point and financial layer over the world’s largest manufacturing base.

Air Corporate’s data recorded a 20% year-over-year growth in founders originating from the Middle East. This shift highlights a reverse migration where founders previously incorporated in Dubai are now choosing Hong Kong. Based on Vivian’s observations, founders often arrive in Dubai expecting fast incorporation and low costs, but discover that incorporation and maintenance are significantly more expensive than in Hong Kong, and banking remains difficult. Consequently, many founders move to Hong Kong after 12 to 24 months in the UAE, a trend accelerated by the Hong Kong government’s strategic outreach to the region.

For lean, remote-first businesses, speed-to-market is a critical factor. A founder located anywhere in the world can incorporate in Hong Kong and open a working bank account in approximately 7 days using digital banking partners. Currently, 90% of Air Corporate’s clients utilize these digital banking partners.

“Hong Kong and Singapore are the only places in Asia where you can set up your company, get a corporate account, and be in business in less than a week,” concluded Vivian.

Air Corporate is a service provider facilitating company formation and incorporation in Hong Kong for serial entrepreneurs, first-time founders, and remote-first business owners operating globally.

Media Inquiries
To learn more about Hong Kong company formation, visit Air Corporate’s website or contact their team directly.

Hashtag: #AirCorporate

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

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Natural Diamonds Sparkle on The Red Carpet at The 2026 Met Gala Celebrating “Costume Art”

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22 hours ago

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15/05/2026

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Today’s biggest stars express individuality and confidence with natural diamonds

NEW YORK, US – Media OutReach Newswire – 15 May 2026 – The 2026 Met Gala celebrating “Costume Art” took place May 4th at the Metropolitan Museum of Art in New York City, bringing together leading figures from across the globe for an unforgettable evening. These tastemakers showcased the most classic, refined and distinctive diamond jewelry looks of the season. Below, A Diamond is Forever highlights the standout trends from the event.

Desert diamonds

Desert diamonds emerged as a striking throughline on the Met Gala carpet, with a range of hues in distinctive settings taking focus.

Rihanna led the trend in a pair of exceptionally rare old Moghul Golconda fancy brown-yellow diamond earrings by Glenn Spiro, featuring two pear-shaped natural diamonds totaling 51.9 carats. Doja Cat offset her all nude look with a pair of large Leviev Diamonds floral-shaped earrings while Paloma Elsesser made a statement in a 29.5-carat diamond necklace by Bernard James, centered around a 15-carat fancy light yellow pear-shaped natural diamond. Cara Delevingne wore a De Beers London Forces of Nature High Jewelry ring, featuring marquise yellow diamonds set as eyes, while Emma Chamberlain opted for yellow and white diamond earrings by Chopard, underscoring the continued allure of warm diamond hues.

Magnificent Diamond Earrings

A wide variety of captivating silhouettes defined the natural diamond earrings on the Met Gala carpet. Zoë Kravitz delivered a modern twist with oversized diamond flower earrings by Jessica McCormack. Chase Sui Wonders opted for Jean Schlumberger by Tiffany & Co. Sea Fan earrings, bringing an element of sculptural artistry to the look. Gracie Abrams selected gently dangling Chanel earrings, adding understated fluidity, while Connor Storrie selected simple hoop earrings from Tiffany & Co., reinforcing the clean and enduring appeal of natural diamonds.

Standout Diamond Moments

Natural diamonds appeared in personal, unconventional and eye-catching ways, offering moments of surprise and awe. Power couple Beyoncé and Jay-Z embodied this trend with Beyoncé wearing Chopard’s Queen of Kalahari necklace, named after the rare 342-carat diamond that provided 23 stones for Chopard’s Garden of Kalahari collection. Jay-Z contributed to the narrative with a vintage diamond brooch by Briony Raymond worn at the collar as an unexpected placement that underscored the piece’s versatility. Isha Ambani made the styling of diamonds an art form in itself, wearing her own diamond jewelry featuring approximately 150 carats of old mine-cut diamonds, including a three-strand necklace and chandelier earrings, while also incorporating diamonds sewn directly into the bodice of her sari to represent significant moments in her life.

Together, these looks highlighted a shift toward natural diamonds as vessels of personal expression, styled with intention, individuality, and a sense of the unexpected.

Hashtag: #MetGala #RedCarpet #ADiamondisForever #NaturalDiamonds #Diamonds





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Turn Your Savings into a Front-Row Experience: HL Bank Singapore Offers Exclusive Passes to AsiaTop Music Festival 2026

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1 day ago

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14/05/2026

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The premier music festival will play host to 16 K-pop, regional and Malaysian stars including, in performance order: Day 1 – NexT1DE, Aina Abdul, Belle Sisoski, Win Metawin, NMIXX, WINNER, DAESUNG, KUN. Day 2 – Uriah See, Firdhaus, Butterbear, 82MAJOR, STAYC, CRAVITY, TWS, CxM

SINGAPORE – Media OutReach Newswire – 14 May 2026 – Your next major K-pop experience is just a savings goal away as HL Bank Singapore (“HLB Singapore”) bridges the gap between financial wellness and the front row. In an exclusive collaboration designed for the ultimate music enthusiast, the bank is offering fans the chance to secure a pair of sought-after AsiaTop Music Festival 2026 tickets, valued at up to RM1,098 (approx. S$355), simply by growing their wealth.

HL Bank Singapore is giving music fans the chance to redeem exclusive passes to the AsiaTop Music Festival 2026, featuring top Asian acts, through its iSavings Reward Campaign.

This unique initiative stems from the regional synergy between Hong Leong Bank (“HLB”) and Tencent Music Entertainment Group (JOOX and QQ Music). By aligning with Visit Malaysia Year and Visit Selangor Year 2026, HLB is transforming the traditional banking experience into a gateway for premium entertainment. Scheduled for 30 and 31 May 2026 at the iconic Sepang International Circuit, the festival promises a high-octane weekend featuring an elite lineup of Asian superstars, including the largest K-pop showcase in the ASEAN region.

Securing a spot at the heart of the action has been streamlined through the iSavings Reward Campaign, running from 9 May 2026 to 18 May 2026. To participate, fans first decide on their preferred festival experience, selecting either a pair of Standard Passes with a S$5,000 deposit or the high-energy, nearer-to-the-stars Rockzone Passes with a S$8,282 deposit for their chosen day.

Once a tier is selected, customers can register by depositing the qualifying funds into an iSavings account via FAST or Links transfer. To validate their entry, customers must include the specific Comment Code, such as PALLIR1 for Day 1 Rockzone, within the funds transfer description. The qualifying balance must be maintained within the account for a six-month (182 days) earmarked period.

With only 88 pairs of tickets available for this exclusive campaign, the stakes are high. Allocation is limited to 22 pairs per day for each ticket category and will be awarded strictly on a first-come, first-served basis. Fans are encouraged to act quickly to ensure their savings work as hard as they do while securing a premier seat at the musical event of the year.

For full terms & conditions, and further details, please visit: www.hlbank.com.sg/AsiaTop2026

Hashtag: #HLBankSingapore

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

HL Bank Singapore

HL Bank Singapore is the Singapore branch of Hong Leong Bank Berhad, a leading digital-centric Malaysia-based financial services institution with a rooted heritage in the country spanning over 120 years. Operating under a Full Bank Licence in Singapore, HL Bank offers a comprehensive range of financial services to our business, retail and high networth customers through our 4 core business segments – Business & Corporate Banking, Personal Financial Services, Private Wealth Management and Global Markets.

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