Companies at two major Hong Kong technology parks will be able to hire IT experts from outside the city and have them working within four weeks under a new government fast-track immigration initiative to attract talent. More than 700 tenants and incubatees ... ( read original story ...)
WeLab joins fintech race to become Hong Kong’s first licensed virtual bank
WeLab, Hong Kong’s home-grown fintech unicorn, is poised to be among the first batch of companies to apply for a virtual banking license from the Hong Kong Monetary Authority, according to its co-founders. “We have been working closely with the HKMA ... ( read original story ...)
Swiss Banks: Risky Hong Kong Loopholes
These measures however are porous – which is playing into the hands of Hong Kong-based Swiss banks. This could however pose risks down the line. UBS is the market leader in private banking for wealthy Asian clients, with Credit Suisse in third place and ... ( read original story ...)
Citi Announces Six Open API Partnerships in Hong Kong
in September 2017 to prepare Hong Kong to move into a New Era of Smart Banking. The formulation of a policy framework on Open API was also announced to facilitate the development and wider adoption of API by the banking sector. Mr. Howard Lee ... ( read original story ...)
Rate hikes favorable to local banking stocks
The central bank has stepped in more than 10 times since April 12 as Hong Kong dollar touched the weaker end of its trading band last month. The Hong Kong dollar is allowed to trade in a range of between 7.75 to 7.85 to the US dollar. Market participants ... ( read original story ...)
WeLab to seek virtual banking licence in Hong Kong
WeLab, a fintech (financial technology) unicorn in Hong Kong, is set to secure regulatory approval for its plan to engage in virtual banking. According WeLab founder and chief executive Simon Loong Pui-chi, the company has been working closely with the ... ( read original story ...)
Sucden Financial HK Appoint Phil Kim to Lead eFX Team in Hong Kong
He joins Sucden Financial from LMAX Exchange in Hong Kong, where he was responsible for establishing the firm's institutional presence in the area. He previously held senior positions at FXCM and Deutsche Bank. Peter Brooks, Co-Head of eFX in London said ... ( read original story ...)
Hong Kong IPO Flop a Warning for Punters in Xiaomi Mega Deal
One of Hong Kong’s most popular investment strategies -- borrow big and plow the money into a red-hot IPO -- is starting to fail, just as the city prepares to host Xiaomi Corp.’s $10 billion listing. Ping An Healthcare & Technology Co.’s initial ... ( read original story ...)
Hong Kong stocks get boost from tech and financials
Hong Kong stocks closed the midday session higher on Tuesday, after tech companies surged following a rebound in Apple shares in the US overnight. Chinese financials and carmakers were also boosted in line with gains in the mainland market. The Hang Seng ... ( read original story ...)
Breakingviews – Higher rates are likely to calm Hong Kong property
HONG KONG (Reuters Breakingviews) - Higher rates are likely to calm Hong Kong’s frothy property market. Interbank lending is getting more expensive after a decade-long slump, pointing to costlier mortgages and slower price growth. This will be manageable ... ( read original story ...)
HONG KONG | China’s exports rebound, trade surplus with US swells
HONG KONG (AP) — China’s exports rebounded last month from a brief downturn while its politically sensitive trade surplus with the United States expanded, according to official data released Tuesday. Customs data showed that exports jumped 21.5 percent ... ( read original story ...)
Hong Kong IPO Flop a Warning for Speculators in Xiaomi Mega Deal
One of Hong Kong’s most popular investment strategies -- borrow big and plow the money into a red-hot IPO -- is starting to fail, just as the city prepares to host Xiaomi Corp.’s $10 billion listing. Ping An Healthcare & Technology Co.’s initial ... ( read original story ...)
‘Orwellian Nonsense’? China Says That’s the Price of Doing Business
and that the Hong Kong, Macau and Taiwan regions are inseparable parts of Chinese territory,” a spokesman, Geng Shuang, said on the ministry’s website. He added, “It must be pointed out that foreign firms doing business in China should respect China ... ( read original story ...)
Hong Kong dominates busiest air routes in the world – but budget airlines can’t get a look-in
Hong Kong has some of the busiest air routes in the world, a report has found – just don’t expect to get a budget flight to or from the city, unlike elsewhere in the region where low-cost travel is booming. Hong Kong International Airport (HKIA ... ( read original story ...)