Category: FINANCE

With Deloitte as one of the Big Four auditors, the Hong Kong Monetary Authority (HKMA) and the region’s top five banks have officially launched a Blockchain platform for trade finance. Earlier this month, HSBC, Bank of China, Bank of East Asia, Hang Seng ... ( read original story ...)

Shares in Hong Kong banks sagged in Wednesday trading after the city’s government brought in new measures to try and rein in runaway house prices. On Tuesday the financial hub’s leader Leung Chun-ying announced that local first-time buyers would be ... ( read original story ...)

Hong Kong — The Hong Kong Monetary Authority said on Tuesday it had ordered the local branch of private bank Coutts to pay a fine of HK$7m ($900,800) for breaching anti-money-laundering and counterterrorism rules. The authority said the move followed an ... ( read original story ...)

April 13 Hong Kong Finance Group Ltd : * Loan agreement was entered into between hk finance as lender and customer d as borrower * HK finance granted a secured loan in principal amount of hk$20.0 million to borrower for a term of twelve months Source text ... ( read original story ...)

Hong Kong’s professional and financial services sectors will benefit from the Asian Infrastructure Investment Bank’s operations. Acting Secretary for Financial Services & the Treasury James Lau made the statement to legislators today, saying Hong Kong ... ( read original story ...)

HONG KONG, April 12, 2017 /PRNewswire/ -- Prenetics, the leading genetic testing company in Southeast Asia, announced the launch of ONEdna, an exclusive DNA screening test service in partnership with HSBC Insurance Hong Kong. The partnership sets Prenetics ... ( read original story ...)

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 ...)

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 ...)

The Panama Papers leak also drew attention to how wealthy individuals use offshore companies, many of them structured by intermediaries based in Hong Kong, to conceal assets. The global anti-money laundering body, the Financial Action Task Force (FATF), is ... ( read original story ...)

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 ...)

New York has displaced Hong Kong as the world’s top destination for initial public offerings (IPOs) of stock during the first three months of 2017. A lack of major stock offerings sent Hong Kong—the main Stock Exchange of Hong Kong (HKEX) and the ... ( read original story ...)

HONG KONG: Hong Kong stocks opened slightly higher Monday, though gains were tempered by a below-forecast US jobs report last week with uncertainty fuelled by the US missile attack on Syria. The Hang Seng Index edged up 0.14 per cent, or 34.71 points ... ( read original story ...)

April 10 Hong Kong stocks barely changed on Monday, with market turnover the lowest in two months as investors were reluctant to place bets amid concerns about growing geopolitical risks over Syria and North Korea. The benchmark Hang Seng index was almost ... ( read original story ...)

Hong Kong stocks finished slightly weaker on Monday ... a move analysts say might provoke Pyongyang. The Hang Seng Index bounced between gains and losses during the day, before closing down 5.12 points, less than 0.1 per cent, at 24,262.18. ( read original story ...)