Baidu posts decrease in Q1 2026

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Beijing, 18th May: Earlier this week, Baidu, the leading Chinese language Internet search company, reported revenues of US$4.65 billion for the quarter ended 31st March 2026, which is a decrease of 1.2% year-on-year. The company’s net profit in the quarter shrank 55%, down to US$499 million. Diluted earnings per share in the quarter were RMB 1.10 (US$0.16).

About 39% of Baidu’s revenues were generated from its online marketing services, amounting to US$1.8 billion, which presents a drop of 17% year-on-year. While revenues from “others” business increased by 42% over the same quarter last year, reaching US$1.9 billion. The company attributed the increase to the growth of AI Cloud business. The remaining revenues were generated from iQIYI, which dropped 8% year-on-year, down to US$903 million.

Robin Li, Co-founder and CEO of Baidu, said, “AI Cloud Infra delivered exceptional momentum, powered by surging enterprise demand and the differentiated full-stack AI capabilities we have built over the years. Our AI Applications continued to gain traction across enterprises and individuals alike, further validating the commercial potential of our AI innovations. Meanwhile, Apollo Go sustained triple-digit growth in fully driverless rides while advancing its international expansion. We see AI driving even greater value for Baidu in the quarters ahead.”

Macau hosts 425 MICE events in Q1

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Macau, 15th May: Last week, Macau’s Statistics and Census Service (DSEC) released its MICE statistics for the first quarter of 2026. A total of 425 MICE events were held in Macau in the quarter, which remained the same as the first quarter of 2025. However, the total number of participants and attendees decreased 8.7% year-on-year, down to 181,000.

Of the 425 events, 399 were meetings and conferences, remained unchanged year-on-year. The total number of participants at meetings and conferences grew 33%, reaching 49,000 participants.

A total of 11 exhibitions were held during the quarter, down by one exhibition compared with the first quarter of 2025. The number of attendees dropped 20% year-on-year, down to 128,000.

Sarawak improves event facilities

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Sarawak, 14th May: Sarawak unveiled Post COVID-19 Development Strategy (PCDS) 2030, an infrastructure programme ranging from venue upgrades to state-wide digital and industry initiatives. PCDS targets for paving way for more convention space, to improve road network offering to event planners across Asia Pacific and worldwide.

The latest projects will be the extension work at Borneo Convention and Exhibition Centre Kuching (BCCK) and a new airline, AirBorneo, based in Sarawak.

BCCK2 extension will include a new main hall with a capacity of 5,936 m2, and 34 breakout rooms across the combined facility. When BCCK2 extension complete in 2027-2028, its venue’s operating capacity will double, to host events of up to 9,500 delegates with BCCK1 and BCCK2 directly linked. BCCK will enable Kuching to provide association and business conference organisers more space, and to give delegates a more positive experience in Sarawak. It will be able to attract more large international business events.

AirBorneo began operations at the beginning of 2026 and has plans to extend its network to make Sarawak and destinations in Bornes more accessible across state and internationally to attract business event groups.

In addition, private sector also takes part with venue upgrades extending to existing facilities in downtown Kuching and in other parts of the state.

Messe Stuttgart adds new portfolio in India

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India, 20th May: International exhibition organiser, Messe Stuttgart, announced to add Cable & Wire Fair along with Wire & Cable India magazine to its portfolio, showing the company’s continued expansion in India and underscores its commitment to enabling industry platforms, driving innovation, collaboration, and global integration.

Cable & Wire Fair is India’s leading exhibition in the wire and cable industry, held biennially. With the addition to Messe Stuttgart, the industry will be able to gain stronger access to international buyers, technology providers, and international business opportunities benefiting from Stuttgart’s international network.

The last edition was held in 2025, brining 424 exhibitors and 16,393 visitors, including 89 international exhibitors from 24 countries. The next edition is scheduled to run from 9th to 11th December 2027, at Yashobhoomi Convention and Exhibition Centre, Dwarka, New Delhi.

Roland Bleinroth, CEO of Messe Stuttgart, said, “India is one of the most dynamic and strategically important markets for us globally. The addition of Cable & Wire Fair and Wire & Cable India magazine in our portfolio reflects our commitment to investing in sectors that are not only growing rapidly but are also critical to the future of global manufacturing and infrastructure. With our international expertise and network, we see strong potential to further strengthen this platform as a key meeting point for the global wire and cable industry.”

Quick takes

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150+ brands at G2E Asia + Asian IR Expo 2026

Organised by RX Global, G2E Asia + Asian IR Expo brought together global leaders across gaming, entertainment, and integrated resorts as digital innovation continues to reshape the industry’s next phase of growth. Taking place from 12th to 14th May 2026, at The Venetian Macao, expected to welcome 8,000 industry professionals from over 90 countries and regions. The co-located events featured over 150 brands, occupying more than 30,000 m2, to showcase net-generation technologies, immersive solutions, and digital infrastructure across the sector.

IEG posts good performance in Q1

Italian Exhibition Group S.p.A. (IEG) released its interim financial report for the quarter ended 31st March 2026. Revenues in the report period were €105 million (US$120 million), a year-on-year increase of 2.1%. Net profit in the quarter increased 6.0% year-on-year, amounting at €23 million (US$26 million).

Hyve expands Manifest

Hyve will expand Manifest into Europe, hosting in FIL in Lisbon, running from 19th to 21st October 2027. Hyve acquired Manifest in May 2025, and it continued to grow after the acquisition, with attendance up 20% at the first edition with Hyve.