More than 50 companies from across the world have expressed interest in applying for virtual bank licences, with Hong Kong Monetary Authority setting August 31 as the deadline for receiving applications for the first batch of purely online banks. ( read original story ...)
HK a surging fintech hub
In June 2017 Hong Kong's central bank and banking regulator, the Hong Kong Monetary Authority, and the Office of Financial Development Service of the Shenzhen Government agreed to strengthen co-operation in fintech between Hong Kong and Shenzhen. ( read original story ...)
Second-hottest day ever for month of May in Hong Kong as mercury hits 38.6 degrees in countryside
Hong Kong experienced one of its hottest days ever in May, with bright sunshine and the sweltering heat on Tuesday sending the mercury up to 38.6 degrees Celsius in some parts of the countryside. The maximum temperature recorded at the Observatory in Tsim ... ( read original story ...)
In a first, Hong Kong refused US extradition bid following Beijing request, State Department report says
Hong Kong’s leader refused to hand over a fugitive to the US following a request by mainland authorities in the first such case since the city’s handover from Britain to China, American officials have revealed. The US Department of State stated in an ... ( read original story ...)
Automated bathing device helps elderly shower safely and earns inventor Spirit of Hong Kong award nomination
Now a team of bathroom automation specialists in Hong Kong is looking to address the problem. Samuel Hui Sing-kwong and his team have developed a device that can automate the entire process, which comprises rinsing, temperature control and soaping. ( read original story ...)
$1.7 Billion Bet Shows Hong Kong Developers’ on Hunt for Land in China
A bidding frenzy followed by a record price for a piece of commercial land in China is another sign that Hong Kong developers are pushing into the mainland. “There is not much room for further expansion in commercial real estate in Hong Kong,” said ... ( read original story ...)
Finance gurus failing to win well-heeled’s wealth
Hong Kong's rising affluent have a strong distrust of financial advisors compared to their counterparts in the United States when making investment decisions, a survey by brokerage Charles Schwab has found.The survey polled Hong Kong investors who had an ... ( read original story ...)
Only a Few Got It Right at Sohn 2017 in Hong Kong. Here’s Who
Flowering Tree Investment Management’s Rajesh Sachdeva, SC Lowy Financial (HK)’s Michel Lowy and Oasis ... Carson Block and hedge fund manager Dan David backfired as the Hong Kong stocks they targeted rallied. As some of the region’s top managers ... ( read original story ...)
Hong Kong leader Carrie Lam defends MTR chief Frederick Ma after his comments on train derailment draw fire
Hong Kong’s leader defended her former peer Frederick Ma Si-hang on Tuesday, saying the MTR Corporation chairman had not meant his controversial remarks about not giving the media more details on a derailment during tests for the new express rail link to ... ( read original story ...)
Hong Kong bus companies paying new drivers 15 per cent less than in 1998 ‘because market lets us’ says Citybus chief Samuel Cheng
Hong Kong’s bus drivers are being paid between 10 and 15 per cent less than they were 20 years ago, the city’s bus companies admitted on Tuesday. A city economist said that in real terms that actually equated to a 28 per cent cut in salary, a poor ... ( read original story ...)
Alibaba Sells Medical Assets to Hong Kong Arm for $1.4 Billion
(Bloomberg) -- Alibaba (NYSE:BABA) Group Holding Ltd. is selling assets from medical devices to drugs for HK$10.6 billion ($1.4 billion) to a Hong Kong-listed unit that it’ll take control of and turn into its main healthcare arm. Alibaba unveiled a deal ... ( read original story ...)
Exclusive – HNA’s Hong Kong Airlines taps investors ahead of IPO: document
(Reuters) - Chinese conglomerate HNA Group’s Hong Kong Airlines is considering an initial public offering in the “short to medium term” and tapping investors to raise funds through the issue of new shares and convertible bonds, a document reviewed by ... ( read original story ...)
BOC and Sa Sa to launch credit card
BOC Credit Card and Sa Sa International Holdings (0178 ... Meanwhile, Sa Sa plans to open another five to seven stores in Hong Kong, but is not looking at buying any premises at the moment, according to chief executive Simon Kwok Siu-ming. ( read original story ...)
Hongkong Land Officially Opens WF CENTRAL in Beijing
BEIJING, May 30, 2018 /PRNewswire/ -- Hongkong Land today officially opened WF CENTRAL, its US$1.2 billion first flagship retail-led project in Beijing. It will play a crucial role in the redevelopment of the historic Wangfujing area of Beijing into a pre ... ( read original story ...)