The bank's latest annual report said its Hong Kong branch had earned operating profit of Rs. 905 million and net profit of Rs 448.6 million in the financial year 2017-18. In the last fiscal, the bank's international business stood at Rs 128.71 billion and ... ( read original story ...)
Hong Kong companies have much to do to improve their dismal green credentials
sustainable practices and certification standards would give consumers confidence in their products and effectively communicate standards of industry leaders to business partners. However, Hong Kong’s sustainability efforts were seen lagging behind in ... ( read original story ...)
With vacancy tax, will Hong Kong government be smiling when the dust settles on war with developers?
Hong Kong’s soaring property prices no longer shock people, but there was still a jaw-dropping moment last week when a car parking space was sold for an astonishing HK$6 million (US$760,000). Chan’s heads-up and Lam’s support have sent the latest ... ( read original story ...)
Hong Kong’s prisoners wagering their lungs on World Cup
Hong Kong’s prisons are once again a hive of cigarette-fueled gambling activity as the hours count down to the start of the 2018 FIFA World Cup. As police forces across the Asia-Pacific region brace for this month’s expected onslaught of illegal ... ( read original story ...)
How going by the book helped Hong Kong start-up VCredit weather China’s breakneck consumer finance market
When Stephen Liu Sai-wang set up online consumer finance firm VCredit a dozen years ago, he wondered whether his “follow the rules” Hong Kong approach to business would allow him to prosper in mainland China’s breakneck, anything-goes environment for ... ( read original story ...)
Xiaomi secures China’s first CDR ahead of mega IPO in Hong Kong
Chinese smartphone brand Xiaomi, en route for a blockbuster $10 billion initial public offering (IPO) in Hong Kong in the second half this year, will also become the first to sell Chinese depository receipts (CDRs) which allow investors in mainland China ... ( read original story ...)
Crypto’s 32-year-old billionaire mining king is mulling an IPO
An IPO would not only open Bitmain's books to the world, it would also allow the stock market to assign the company a value in real time. While Wu said he has no specific plans at the moment, he's open to a listing in Hong Kong — or in an overseas market ... ( read ...
Hong Kong Activist Edward Leung Given 6 Years for Police Clash
HONG KONG — A Hong Kong activist was sentenced to six years in prison on Monday for his role in a 2016 clash between protesters and the police over unlicensed street vendors selling traditional snacks during the Lunar New Year. The activist, Edward Leung ... ( read original story ...)
Hong Kong golf course row exposes city’s social divide
But for others the golf course is fair game and a visceral symbol of Hong Kong's inequalities, set against the backdrop of spiralling property prices and rents which force many residents to cram into tiny homes. Chanting "Land belongs to the people!" ( read original story ...)
Sun Hung Kai directors snap up own-company shares amid bullish Hong Kong property market sentiment
Hong Kong directors’ buying of shares in their own companies was high for a third week in the June 4 to June 8 period, with executives at property firms Sun Hung Kai Properties and Future Land Development prominent amid bullish sentiment over the city ... ( read original story ...)
Chinese property developers bet on higher returns with mezzanine loans
HONG KONG (Reuters) - Chinese property companies are increasingly tapping expensive mezzanine loans as they seek out higher returns, a trend that could undermine government efforts to cool the country’s booming real estate sector and rein in debt. ( read original story ...)
Hong Kong Office Rents Grow at Fastest Pace in 2 Years
According to JLL's latest Property Market Monitor, rents in Hong Kong's office markets grew at their fastest pace in more than two years amid a tight vacancy environment and an active leasing market. Overall, rents climbed 1.1% month-over-month in April ... ( read original story ...)
Hong Kong: Driving growth in a leading global financial hub
and we put them within a space that's geographically suitable for their business," Batcha told 'Spotlight'. We’ll be back again soon with another edition from Hong Kong, looking at how people there work hard but also play hard! ( read original story ...)
HSBC to invest $15-17 billion by 2020 as strategy pivots to growth
LONDON (Reuters) - HSBC will invest $15-17 billion in the next three years in areas including technology and its core Asian markets of Hong Kong and China as it swings from a strategy of cost-cutting to growth, new Chief Executive John Flint said on Monday. ( read original story ...)