Analysts seeking to call when banks will raise mortgage costs A dose of reality may be on the way for Hong Kong, even as it breezes through the U.S. Federal Reserve’s latest rate hike. Because its currency is pegged to the dollar, the Asian financial hub ... ( read original story ...)
China’s Vaccine Tourists Drain Hong Kong’s Supply of Cancer Drug
In the two years since Merck & Co.’s Gardasil 9 became available in Hong Kong, about 2 million mainlanders have come for the shots, according to the Xinhua News Agency. With the drugmaker unable to keep up, some clinics are turning away Chinese patients ... ( read original story ...)
Hong Kong bourse raises CEO’s annual salary to HK$9.3 million, before bonus and stock options
Hong Kong Exchanges and Clearing Limited (HKEX) has raised the salary of its chief executive by 3.5 per cent as it renews his contract for three more years, rewarding him for leading the 2017 overhaul in listing rules that could return the world’s fourth ... ( read original story ...)
Hong Kong workers feel they are not equipped with the right skills for digital economy: Survey
Robotic process automation is an emerging form of digital labour powered by software robots or artificial intelligence, which mimic human actions relating to a wide variety of business transactions. Hope said that Hong Kong’s economy could potentially ... ( read original story ...)
Hong Kong Monetary Authority enhances supervision of PNB’s HK branch
State-owned Punjab National Bank (PNB) on Wednesday said the Hong Kong Monetary Authority (HKMA) has enhanced supervision of its Hong Kong branch and has asked it "not to proactively solicit customer deposits". "...In view of the capital position of the ... ( read original story ...)
‘Nirav Modi shifted all dummy directors in Hong Kong to Cairo after scam was exposed’
Divyesh Gandhi, director in Anuragen, one of the Hong Kong-based dummy companies ... so that he could pay off previous ones and use the remaining money for his business activity. He convinced bank officials by showing bogus papers of import-export business ... ( read original story ...)
Allahabad Bank branch in Hong Kong to face increased scrutiny from HKMA
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 ...)