HONG KONG/LONDON: HSBC Holdings PLC posted on Friday an unexpected 4 percent drop in first-quarter pre-tax profit due to a surge in investments, missing estimates, and announced plans to initiate a new share buyback of up to $2 billion. "Given the growth ... ( read original story ...)
Ping An Healthcare opens up 4.6 percent in Hong Kong debut
shares opened up 4.6 percent on their market debut in Hong Kong on Friday, as investors jostled for a piece of the fast-growing business. The company, that operates China’s largest online healthcare platform, raised $1.12 billion after pricing its IPO at ... ( read original story ...)
Alliance of banking big hitters to tackle threat of unregulated fintech in Hong Kong
An influential new international alliance of senior bank officials, financial regulators, and monetary chiefs will launch in Hong Kong next week to help address the threat they believe an unregulated fintech (financial technology) revolution poses to ... ( read original story ...)
B.C. re-focuses on business with Hong Kong with eye on Chinese ‘Greater Bay’ megalopolis
B.C. is renewing its focus on its trade and investment relationship with Hong Kong - just as the Chinese Special Administrative Region (SAR) is seeing an unprecedented plan to integrate with surrounding Mainland Chinese cities to form a massive economic zone. ( read original story ...)
Why Nigerian Internet fraudsters target Chinese, HK bank accounts — Report
West Africa’s infamous Internet scammers have evolved, dropping their impersonations of online love interests, princes and United States soldiers in favour of hijacking corporate emails, costing businesses hundreds of millions of dollars a year. ( read original story ...)
Hong Kong stocks end lower as investors await outcome of US-China trade talks, Fed meeting
Hong Kong stocks fell on Wednesday led by insurers, as investors remained cautious ahead of talks between the US and China this week over thorny trade issues. The benchmark Hang Seng Index eased 0.27 per cent, or 84.57 points, to 30,723.88, while the Hang ... ( read original story ...)
LuLu Financial Group starts Hong Kong operations
Branded as “LuLu Money” in Hong Kong, this is LuLu Financial Group’s tenth country of operation and second in the APAC region, after Philippines. On the occasion Ahamed said, “We are extremely delighted to start our operations in Hong Kong. ( read original story ...)
Xiaomi applies to raise funds in Hong Kong, giving city the pole position in 2018 global IPO race
The company, the world’s fourth-largest smartphone maker ranked by shipment, has submitted an IPO application to the Hong Kong Exchanges & Clearing Limited under new listing regulations for technology start-ups. While the application omitted financial ... ( read original story ...)
Startups Use New Discount Models To Feed Asia’s Eating-Out Crowd
The startup aims to help restaurants increase their profitability ... Last year it expanded into four more markets–Malaysia, Hong Kong, India and the Philippines–and Hong Kong already is its best market in terms of revenue. It boasts 160 employees ... ( read original story ...)
Chinese smartphone maker Xiaomi files for huge Hong Kong IPO
Xiaomi, one of the world's leading smartphone makers, has filed to go public in Hong Kong in what could be the biggest ... Xiaomi, one of the world's most valuable startups, declined to comment Thursday on the value of the IPO, which is expected to happen ... ( read original story ...)
Xiaomi, Chinese Gadget Maker, Opens Floodgates for Hong Kong I.P.O.s
They were able to offer so-called dual-class shares, which give shareholders little say in the operations of the business. Until last week, Hong Kong, which has stricter rules than New York, had not allowed such listings. In its filing on Thursday with ... ( read original story ...)
Should Mandarin replace Cantonese in Hong Kong? No, says Carrie Lam
Hong Kong’s leader on Thursday dismissed a controversy over the use of Mandarin in public schools and whether Cantonese could be considered the city’s mother tongue as a “non-issue”, telling legislators her administration had no plan to change its ... ( read original story ...)
China’s Xiaomi picks Hong Kong for $10 billion IPO, lifts lid on financials
Hong Kong is eyeing several tech listings in the coming two years ... coming to Hong Kong that there is a clear pathway," said Keith Pogson, senior partner for financial services at EY. Xiaomi said it would have a weighted voting rights (WVR) structure ... ( read original story ...)
LuLu Financial Group Commences Operations in Hong Kong
HONG KONG--(BUSINESS WIRE)--May 3, 2018--LuLu Financial Group, the leading financial services and payments solution brand, started its operations in Hong Kong with the inauguration of their head office at Hankow Centre in Kowloon. This press release ... ( read original story ...)