Hong Kong (AFP) - Hong Kong's tough pro-Beijing number two Carrie Lam announced her bid to lead the deeply divided city Thursday after stepping down from her current post. Lam is deputy to Hong Kong's unpopular leader Leung Chun-ying and rose through the ... ( read original story ...)
HSBC To Take On Jetco In P2P Mobile Payments
HSBC is gearing up to take on Hong Kong P2P mobile payment company Jetco, launching its own P2P mobile payment app. According to a report, HSBC has a holding page online that invites cardholders to sign up for the payment service. HSBC is enticing ... ( read original story ...)
Hong Kong exposed to shortage of property, ageing population and economic slowdown on the mainland, says IMF
The International Monetary Fund (IMF) has issued a warning on Hong Kong’s economic outlook, highlighting a shortage of housing, an overheating property market, an ageing population and an economic slowdown on the mainland. The report, released on Friday ... ( read original story ...)
Hong Kong's Green Finance Bonanza
History will remember the 2016 G20 Hangzhou Summit for signaling a new phase in China’s aspiration to take on a leadership role on climate issues. Beijing’s keen interest in promoting green finance as a cornerstone of the Chinese environmental ... ( read original story ...)
Hong Kong’s Billionaires Make More Money From Property Than Billionaires Anywhere Else
With soaring home prices and shrinking unit sizes, it's not unfair to say that Hong Kong isn't a friendly place for prospective home-buyers. But the story is completely different for the territory's top real estate developers. The top 12 property moguls in ... ( read original story ...)
Le Pen's currency proposal not "credible", says Luxembourg finance minister
Speaking to Reuters during a visit to Hong Kong, Finance Minister Pierre Gramegna said the euro had been strengthened by a series of crises in the European Union, including the Greek sovereign debt crisis. He said improving fiscal conditions among euro ... ( read original story ...)
BRIEF-Hong Kong Finance Group says unit HK Finance enters into loan agreement
* Loan agreement was entered into between HK Finance as lender and customer a as borrower * HK Finance to grant secured loan in principal amount of approximately hk$33.3 million to customer Source text for Eikon: Further company coverage: Next In Financials ( read original story ...)
Hong Kong Business High Flyers Awards 2016 Recognises Exceptional Enterprises
HONG KONG, Jan. 13, 2017 /PRNewswire/ -- In its 13th year, Hong Kong Business High Flyers Awards honours outstanding firms and companies that have exemplified how an exceptional commitment to innovation, strong focus on customer service, and adherence to ... ( read original story ...)
McDonald's unloads its business in China
HONG KONG — McDonald's Corp. has agreed to sell the bulk of its China and Hong Kong business to the state-backed conglomerate Citic Ltd and Carlyle Group LP for up to $2.1 billion, seeking to expand rapidly without using much of its own capital. ( read original story ...)
Hong Kong’s SFC Warns of Yet Another Unlicensed Brokerage
The Securities and Futures Commission (SFC), Hong Kong’s main financial services watchdog, today updated its Alert List with the addition of another brokerage after it was found to be offering its services to the public without being authorised to do so. ( read original story ...)
Half of today's work activities could be automated by 2055: McKinsey
At a time of lackluster productivity growth worldwide, automation technologies, including robotics, artificial intelligence and machine learning can give a needed boost to economic growth, Joe Ngai, managing director of McKinsey's Hong Kong office said ... ( read original story ...)
China badly needs robots to protect its economy from a shrinking labour force, McKinsey
“At this moment, China is investing the most in automation,” Joe Ngai, managing partner of McKinsey’s Hong Kong office, told reporters on Thursday. “I think China will make big progress in adopting automation in the coming years ... ( read original story ...)
Hong Kong's delivery startup Lalamove eyes IPO in two years
HONG KONG -- Hong Kong-based Lalamove has introduced a new motorbike service in the territory as the delivery startup plays catch-up with rivals ahead of a proposed initial public offering in the next two years. Dubbed "Uber for logistics," Lalamove is a ... ( read original story ...)
HSBC risks losing advantage with year-long delay in Chinese banking push
A spokesman for HSBC in Hong Kong said the bank continues to seek the required approval, declining to comment on the timing. The proposed HSBC-Qianhai firm would be able to trade as well as underwrite stocks and bonds for Chinese firms, unlike foreign ... ( read original story ...)