“People are selling Hong Kong dollars to position for an interest-rate increase by the US Federal Reserve in March,” said Jasper Lo Cho-yan, senior vice-president at iBest Finance in Hong Kong. “As Hong Kong’s banking system is flooded with ample ... ( read original story ...)
HK$1m safety net per policy for Hong Kong policyholders in case of insurer collapse
“Although Hong Kong has a very robust regulatory system, and there have only been a handful of insolvencies involving small non-life insurers in the past two decades, the 2008 international financial crisis highlighted the need for a more comprehensive ... ( read original story ...)
Hong Kong budget fails to share bumper surplus with the needy
CENTRAL: Finance chief Paul Chan has maintained that the government will give about 40 percent of the surplus back to the public through various means. The plan included a number of tax rebates, with salaries tax, tax under personal assessment ... ( read original story ...)
Hong Kong stocks fall most in 3 weeks amid trade war fears
HSI financial sector sub-index is 2.3 percent lower; property sector down 2.1 percent March 5 (Reuters) - Hong Kong stocks fell the most in three weeks on Monday as the prospects of a global trade war continued to haunt investors. ** US President Donald ... ( read original story ...)
China’s Tasly to list biotech arm in $1 billion Hong Kong IPO: sources
HONG KONG (Reuters) - China’s Tasly Pharmaceutical Group is planning to list its biopharma unit in Hong Kong to raise about $1 billion, in what is likely to be the largest biotech float in the city this year, people with knowledge of the matter said. ( read original story ...)
28 Men’s Teams Announced for 2018 Cathay Pacific / HSBC Hong Kong Sevens
Ireland will return to the Cathay Pacific / HSBC Hong Kong Sevens in April, appearing for the first time since 2000, when they won the Bowl. The Irish are among the 12 teams contesting the international qualifier tournament for the World Rugby HSBC Sevens ... ( read original story ...)
Warnings of financial blow-up in Hong Kong as currency comes under strain
Hong Kong's currency regime is coming under serious strain as the US Federal Reserve steps up the pace of monetary tightening, threatening to set off an unpredictable chain of events in the world's most over-stretched -financial system. The enclave's US ... ( read original story ...)
Hong Kong’s Science Park just got the lion’s share of the budget goodies, but on what basis?
So each year, Hong Kong’ budget is a series of ad hoc expenditures based on the current surplus rather than total reserves. It’s as primitive as a household budget. We’ve gotten so used to local terms like “goodies” and “sweeteners”, which ... ( read original story ...)
Hong Kong bus operator KMB may go green with zero emissions using hydrogen fuel cell technology
Hong Kong bus operator KMB – recently locked in a wage row with ... Mark Nodder, chairman and CEO of Wrights Group, a technological pioneer in public transport, revealed the news in an exclusive interview with the Post. During a visit to the city last ... ( read original story ...)
Hong Kong-listed companies need greater board independence, AllianzGI says
A key reason for the perceived non-independence is that many board directors in Hong Kong have ongoing business relationships with, or are affiliated with, the controlling shareholders, said Eugenia Unanyants-Jackson. It is also very rare in Hong Kong to ... ( read original story ...)
Interview: Alexandra Andersson, protector of Hong Kong’s pangolins – cute, harmless, and endangered
“Something like that,” says Andersson, the daughter of a Swedish investment banker who came to Hong Kong for business reasons. Smugglers just treat pangolins as a business opportunity, in the knowledge they are breaking the law. “They probably know ... ( read original story ...)
Hong Kong slow to act on suspected money-laundering scheme that duped Filipino maids, legal experts say
In return, she expected to receive a “personal UK passport, 15 air tickets to London and an opportunity to explore the UK business market”. Ylagan, a Philippine native and long-time Hong Kong resident, claimed in the statement that no cash as ... ( read original story ...)
Week in Review: Grail Plans $500 Million Hong Kong IPO for Cancer Diagnostics
Grail, a US spinout from Illumina (NSDQ: ILMN) that is developing blood-based cancer detection tests, is considering a $500 million Hong Kong IPO (see story). Last year, Grail completed a $900 million Series B fundraising, the largest ever. In June, Grail ... ( read original story ...)
Faster, cheaper MRIs a new breast-screening option from Hong Kong start-up
Women worried about the discomfort of having a mammogram, or the high cost of magnetic resonance imaging (MRI) screening, may soon have another way of checking their breast health. Galen MRI Systems recently debuted its EMMA machine, designed for quicker ... ( read original story ...)