One of Hong Kong’s oldest brokerages is boosting its wealth management operations in the city, where millionaires are being minted by a property boom. Everbright Sun Hung Kai Co., a unit of China’s Everbright Securities Co., plans to add 100 ... ( read original story ...)
Hong Kong police arrest seven and seize about HK$20 million worth of cash and drugs in organised crime crackdown
Hong Kong police have seized about HK$20 million (US$2.5 million) worth of cash and drugs in seven arrests over the past three days as part of the wider Thunderbolt 18 operation against organised crime. On Monday night, police arrested three suspected drug ... ( read original story ...)
Mainland Chinese woman accused of taking photos in Hong Kong courtroom remanded in custody after failing to post bail
A mainland Chinese woman accused of taking photos in a Hong Kong court was on Tuesday remanded in police custody, after she failed to post cash bail of HK$50,000 (US$6,400) as ordered by a judge. Tang Lin-ling was told last Friday by Mr Justice Andrew Chan ... ( read original story ...)
Opening remarks by S for IT at STARTIT.Asia Hong Kong 2nd Edition Startup & Ecosystem Mixer (English only)
Following are the opening remarks by the Secretary for Innovation and Technology, Mr Nicholas W Yang, at the STARTIT.Asia Hong Kong 2nd Edition Startup & Ecosystem Mixer today (May 29): Consul General (Consul General of Italy in Hong Kong and Macao, Mr ... ( read original story ...)
Swiss watch exports rise in April as Hong Kong booms
ZURICH (Reuters) - Swiss watch exports rose 13.8 percent in April to 1.76 billion Swiss francs ($1.77 billion), powered by a boom in the crucial Hong Kong market, trade data showed on Tuesday. The news is a boon for Swiss watchmakers such as Swatch Group ... ( read original story ...)
Hong Kong Audit Reform Falls Short
The Financial Reporting Council (Amendment) Bill of 2018 is working its way through the legislative process in Hong Kong. Unfortunately, the proposal falls far short of what is needed. I fear that the legislators have fallen into the trap of finding ... ( read original story ...)
China $10 Trillion Shadow Bank Crackdown Has Long Way to Go
"We’ve had a good beginning to a long journey," said Larry Hu, a Hong Kong-based economist at Macquarie Securities Ltd. "Some components of shadow banking are shrinking and interbank leverage has started to drop. But we are far from the stage where we ... ( read original story ...)
HKMA and InvestHK host seminar on “Guangdong-Hong Kong-Macao Bay Area – New Opportunities arising from Overseas Treasury Management”
Senior representatives from the HKMA, Bank of China (Hong Kong) and Deloitte introduced Hong Kong’s CTC tax regime, the “Pilot Bond Grant Scheme” and the “Green Bond Grant Scheme”, as well as shared insights on various areas including market ... ( read original story ...)
Ingenious Artificial Intelligence Solutions Unveiled at BMO Private Bank’s Hong Kong Technology Showcase, ‘Innovations for a Better World’
HONG KONG, May 29, 2018 - (Media OutReach) - Bank of Montreal (BMO), a Canadian financial services leader for more than 200 years, hosted Artificial Intelligence (AI) and tech professionals from Canada and Hong Kong to unveil innovative AI technology and ... ( read original story ...)
New Development Bank eyes bond connect scheme for 5 billion yuan debt sale
are pitched as alternatives to established global institutions such as the World Bank. Bond Connect, a mutual market-access scheme launched in July last year, allows investors in Hong Kong to put money into the mainland’s interbank bond market. ( read original story ...)
Royal Bank Of Canada Becomes Latest Business To Refer To Taiwan As Part Of China
Royal Bank of Canada has become the latest Canadian business to ... Maps of China must also include Taiwan, Macau, and Hong Kong, and all regions must be depicted in the same colour, according to the letter obtained by The Washington Post. ( read original story ...)
Royal Bank joins Air Canada in labeling Taiwan as part of China
The bank’s designation is coming to light after a similar move ... on April 25 to 36 air carriers that “demanded” they change the reference of Taiwan, Hong Kong and Macao to “fall in line with the Communist Party’s standards,” according to ... ( read original story ...)
Great Eagle Holdings co-founder tells Hong Kong court HSBC International Trustee favours her third son in family dispute
A feud that split one of Hong Kong’s richest real estate clans unfolded in the High Court on Tuesday, with a unit of the city’s largest bank embroiled in accusations that it had favoured one side of the family. The battle stems from a lawsuit filed two ... ( read original story ...)
Pressure on Hong Kong to Scrap Currency Peg
If only Chief Executive Carrie Lam and Norman Chan, who heads Hong Kong’s de facto central bank, spent as much time and resources addressing worsening inequality and social mobility. The falling Hong Kong dollar is a distraction—more symptom than cause ... ( read original story ...)