New Delhi, Feb 17 (IANS) The only foreign bank affected in Nirav Modi/Mehul Choksi fraud case turns out to be Intesa Sanpaolo SPA whose Hong Kong branch was called upon to provide money to Gitanjali Gems against a foreign letter of credi (FLC) issued by ... ( read original story ...)
Hong Kong Express expects six-month delay in Airbus A320neo delivery: memo
SINGAPORE (Reuters) - Hong Kong Express Airways Ltd expects at least a six-month delay in deliveries of new Airbus SE A320neo jets due to issues with engines made by Pratt & Whitney, according to an internal memo issued by the airline. The budget ... ( read original story ...)
New Hong Kong shopping centre on border struggles to draw mainland shoppers – or anyone else
After six rounds of mini-karting at The Boxes – Hong Kong’s first shopping centre located close to the Shenzhen border in San Tin, aimed to attract mainland shoppers – young So Fu-kit declared: “It is so boring!” The nine-year-old boy did not ... ( read original story ...)
350 million banknotes worth HK$10 billion: Hong Kong’s love affair with lai see cash
according to the Hong Kong Monetary Authority. What is changing is that some bank customers are willing to accept notes that are not newly printed, with about half ready to accept used banknotes in good condition for their lai see packets. “Since 2006 ... ( read original story ...)
Citi Hong Kong named ‘Digital Bank of the Year’ by the Asset Magazine
HONG KONG, CHINA -- February 15, 2018 -Citi Hong Kong was named "Digital Bank of the Year" and swept top awards across every banking category at The Asset Triple A Digital Awards 2017 in Hong Kong. The Citi Mobile App has earned Citi numerous accolades ... ( read original story ...)
Punjab National Bank fraud case: RBI, Sebi to seek help from Hong Kong regulators
NEW DELHI: The Reserve Bank and the Sebi are likely to approach their counterparts in Hong Kong for cooperation in the matter relating to the whopping over Rs 11,000 crore fraud at public sector lender PNB where several entities have come under the scanner ... ( read original story ...)
HKMA’s updated rules conducive to virtual-banking development
In order to keep up with fintech development, Hong Kong’s de facto central bank last week issued a draft of the updated version of the guideline for public consultation. Some of the rules remain unchanged. For example, virtual banks looking to set up ... ( read original story ...)
Popularity of electronic lai see grows but cash is still king in Hong Kong for lucky money
counting the cash and banking it. “It’s also less troublesome and safer as you don’t need to bring that much money around in your purse.” She admitted that it would be hard to set the trend in conservative Hong Kong. “It’s a bit difficult to ... ( read original story ...)
Hong Kong schools to resume classes on schedule as flu crisis shows signs of easing
Classes will resume at Hong Kong schools according to original schedules for kindergarten and primary school pupils, the food and health minister said on Friday, as local paediatricians credited early closures for helping to mitigate a flu outbreak that ... ( read original story ...)
Hong Kong home prices might surge by 10 per cent this year, says sales head at Henderson
Hong Kong, the world’s most expensive real estate market, could see home prices rise by another 10 per cent this year after a 14 per cent gain last year, according to the head of sales at one of the city’s largest developers. The projection ... ( read original story ...)
Hong Kong offers Indian startups unique edge in proximity to Mainland market: Stephen Phillips, Director-General InvestHK
The Director-General of Hong Kong’s investment promotion body is in the country for a five-day visit to engage with local business community and entrepreneurs. Stephen Phillips is the Director-General of Investment Promotion at Invest Hong Kong ... ( read original story ...)
Brisbane cybersecurity company beats worldwide competition to be named 2017 FinTech Startup of the Year in Hong Kong
Entersoft co-founder and CEO Mohan Gandhi receives his company's award from Dr Winnie Tang, Honorary Professor at the Department of Computer Science at Hong Kong University A Brisbane-based cyber security provider to the fintech industry has beaten ... ( read original story ...)
Hong Kong’s Business of Design Week to partner with Melbourne in 2018
Melbourne has been selected as the partner for Business of Design Week 2018, Hong Kong's flagship architecture and design event and exhibition. ArchitectureAU reports on the 2017 program in anticipation of the focus on Melbourne’s creative sector in 2018. ( read original story ...)
Wall Street cheers Hong Kong’s IPO rules revamp but sees New York’s dominance unthreatened
Meituan-Dianping, a Chinese online platform for ordering food and booking movies, and Toutiao, a Chinese news aggregator, are other mega IPOs coming in the next 24 months. In December, when Hong Kong announced its proposed marketplace changes ... ( read original story ...)