HKMA fines Coutts HK$7m for breaching money laundering rules

The bank also did not do sufficient due diligence before establishing a business relationship with customers. Hong Kong clients can pick banks with varying compliance rules In deciding the disciplinary action, the authority considered “it needed to send ... ( read original story ...)

Hong Kong lawmaker charged for upending Chinese flag

Hong Kong - A Hong Kong lawmaker was arrested Wednesday for "desecrating" the Chinese and Hong Kong flags by turning them upside down in parliament, in charges he said were designed to suppress anti-Beijing sentiment. Cheng Chung-tai upended small China ... ( read original story ...)

Hong Kong slaps property tax to close loophole

He emphasized the government's efforts in raising housing supply, while financial secretary Paul Chan said he expects the potential supply of new flats in Hong Kong over the next three to four years to exceed the December estimate of 94,000 units ... ( read original story ...)

Hong Kong's Central Bank is Trialing a Digital Currency

Hong Kong's de facto central bank is developing a prototype digital currency. The disclosure came in a Hong Kong legislative document published by the Legislative Council Panel on Financial Affair this week and dated 18th April. According to the note, the ... ( read original story ...)

Shell (RDS.A) to Divest Hong Kong LPG Business for $150M

Anglo Dutch oil giant Royal Dutch Shell PLC RDS.A recently signed a deal to divest its liquefied petroleum gas business in Hong Kong and Macau to oil and LPG supplier, DCC Energy Ltd. which is a subsidiary of DCC plc DCCPF. For Shell, the deal is part of ... ( read original story ...)