Stories about: HKT

Pacific Century CyberWorks Ltd. (PCCW), the Hong Kong Internet startup that last year acquired its hometown telecommunication carrier, announced Wednesday it will lay off 340 employees in the business that less than a year ago it touted as a platform to take on the world: broadband business to consumer (B-to-C) services.

Home broadband penetration has reached 40.2 percent of all Hong Kong Internet users, or about 800,000 users, according to Internet-usage measurement company Internet Audience Measurement Asia Ltd. (Iamasia). The market research company also expects that percentage to surpass the 50 percent mark by the third quarter of 2001, according to recent company findings.

Pacific Century CyberWorks (PCCW), the Hong Kong Internet startup that bought incumbent telecommunications carrier Cable & Wireless HKT Ltd. (HKT) at the height of the tech-stock frenzy last year, on Wednesday posted a net loss for 2000 of more than HK$6.9 billion (US$884.6 million).

While economists this week found some heartening signs of an upturn in the US marketplace, the IT industry continued to suffer. Hewlett-Packard's CEO Carly Fiorina illustrated the mood with comments she made while launching a range of new mobile computing products at the CeBIT trade show in Hanover. "It is like navigating through a thick fog," she said.

Pacific Century CyberWorks, the Hong Kong Internet startup that bought incumbent telecommunications carrier Cable & Wireless HKT at the height of the tech-stock frenzy last year, on Wednesday posted a net loss for 2000 of more than HK$6.9 billion (US$884.6 million).

Singapore Telecommunications Ltd. (SingTel) is set to make an A$17.5 billion (US$8.95 billion) bid for Australian company Cable & Wireless Optus Ltd. (CWO), according to reports in both local and overseas media Monday.

Hong Kong-based Pacific Century CyberWorks last Thursday acquired Hutchison Corporate Access (HCA), a provider of private satellite-based data communications networks, by acquiring holding company Hutchison Telecommunications Technology Investments Ltd.

Telstra has at long last released details of its joint venture companies with Pacific Century CyberWorks and the executives who will lead them

Listed security and trust services provider SecureNet has joined forces with two Chinese companies to help establish a trust centre in Beijing. The new facility, which will be similar to centres the company has already established in Hong Kong and Australia, will attempt to meet emerging demand for e-commerce and trust services in China.

Telstra and Pacific Century Cyberworks (PCCW) have moved to end any uncertainty over their Pan-Asian market alliance, which includes the sale of Telstra's and PCCW's wholesale network business into a new entity.

Platypus Technology, the company set up early this year by Geoff O'Reilly and Colin Lillywhite to build solid state hard drives, has attracted $US7 million from investors in the US and Asia. Other wheeling and dealing during the week also involved some well known Australian names