Hong Kong’s biggest banks are increasingly locking mortgage rates to lure customers from upstart rivals in the world’s least affordable housing market, where borrowing costs are soon expected to rise. HSBC Holdings Plc and BOC Hong Kong (Holdings ... ( read original story ...)
Hong Kong – Open Banking Developments
The banking industry has undergone rapid change in recent years with the rise of virtual currency, fintech and digital innovation challenging the status quo. One of the key developments emerging in the last couple of years is the concept of Open ... ( read original story ...)
Hong Kong Issues Consultation on Authorization of Digital Banks
Some updates include: Banks, financial institutions and technology companies may apply to own and operate a virtual bank in Hong Kong. Virtual banks should play an active role in promoting financial inclusion in delivering their banking services. ( read original story ...)
Hong Kong banks launch QR code payments
Joint Electronic Teller Services Limited (“JETCO”) today announced the launch of JETCO Pay Merchant Payment service jointly with eight banks, including Bank of Communications (Hong Kong), Bank of East Asia, Chong Hing Bank, Dah Sing Bank, ICBC (Asia ... ( read original story ...)
‘We’re watching you,’ regulator warns Hong Kong cryptocurrency exchanges
Hong Kong’s cryptocurrency exchanges have been warned that regulators are watching them closely after investors complained of practices ranging from market manipulation to misappropriation of assets. The Securities and Futures Commission said it has sent ... ( read original story ...)
Hong Kong banks to offer QR payments to 18m debit card holders
Jetco Pay adds new merchant payment service supported by eight banks — Jetco — “Jetco today announced the launch of Jetco Pay Merchant Payment service jointly with eight banks, including Bank of Communications (Hong Kong), Bank of East Asia ... ( read original story ...)
Virtual banks to be licenced in Hong Kong..
... principles which the HKMA will take into account in deciding whether to authorize virtual banks to conduct banking business in Hong Kong. As defined in the revised guideline, a “virtual bank” refers to a bank which delivers retail banking ... ( read original story ...)
HK finance firm eyes PH investments
Following China’s “One Belt and One Road” strategy for outward expansion, financial conglomerate Freeman FinTech Corp. Ltd. is exploring investment opportunities in the Philippines especially in the field of banking. Officials of the Hong Kong Stock ... ( read original story ...)
New mattress and bedding start up from San Francisco launches in Hong Kong (with photos)
US start-up Hush Home announced today (February 12) it has opened its office in Hong Kong, using the city as a regional base to market its affordable high-grade mattresses, pillows and other bedding products. Hush Home designs and tests its products in San ... ( read original story ...)
Hang Seng Bank : Launches One-Year Fixed-Rate Mortgage Promotion
Hang Seng Bank today launched a one-year fixed-rate mortgage promotion that offers a one-year fixed mortgage rate of 1.68% per annum. The subsequent mortgage rate will be the Hong Kong InterBank Offered Rate (HIBOR) plus 1.3% per annum, capped at Prime ... ( read original story ...)
To fill flu vaccine shortage, Hong Kong officials consider doses meant for southern hemisphere
Hong Kong health officials could introduce flu vaccines intended for the southern hemisphere in light of the city’s flu vaccine shortage this year, with private doctors saying they had no more of the immunity-fighting substance for their patients. ( read original story ...)
Hong Kong bus passengers furious with driver moments after deadly crash, witness claims
Raging tempers flared against the driver behind the wheel of a Hong Kong bus moments after a deadly crash that killed 19 people at the weekend, according to an eyewitness. Speaking on a radio programme on Monday, a passenger surnamed Yau recalled how he ... ( read original story ...)
Bus driver charged over fatal crash as Hong Kong cancels Lunar New Year fireworks
Hong Kong’s Lunar New Year fireworks set for this Saturday have been called off out of respect for the victims of the city’s deadliest traffic accident in more than a decade, as the driver was on Monday night charged with causing death by dangerous ... ( read original story ...)
Hong Kong woos Indian investment in financial services, ICT
Investment from India in Hong Kong reached HK dollar 12.5 billion at the end 2016, an increase of about 17 per cent year-on-year. NEW DELHI: Seeking investments from India, Invest Hong Kong today said sectors such as financial services, tourism and ICT ... ( read original story ...)