AIA Group Ltd (1299.HK), the world's third-largest life insurer by market value, said on Friday new business rose 28 percent in 2016, buoyed by strong customer demand in its main markets in China and Hong Kong. Value of new business rose to $2.75 billion ... ( read original story ...)
HSBC warns of risks to world economic growth as profit dives
HONG KONG - London-based bank HSBC reported Tuesday that its annual profit slumped following a year it said would be remembered for "unexpected economic and political events" and warned of risks in 2017 to the global economy's continuing recovery. ( read original story ...)
GoHome.com.hk Releases Hong Kong Property Market Perspective Survey
- Hong Kong citizens continue to see local homes as overpriced and the cooling measures ineffective in stabilising property prices. Housing prices are expected to grow in 2017. - The majority of respondents are unsatisfied with the housing policy last year ... ( read original story ...)
Donald Tsang: Hong Kong former leader sentenced to 20 months
Former Hong Kong leader Donald Tsang has been sentenced to 20 months in prison for misconduct. Tsang led Hong Kong from 2005 to 2012 and is the most senior official in the territory ever to stand trial for corruption. He was found guilty last week of ... ( read original story ...)
Over 30,000 gather to support jailed Hong Kong cops: reports
More than 30,000 people gathered in Hong Kong Wednesday to show their support for seven police officers who were sentenced to two years in jail for beating up a pro-democracy activist in 2014, reports said. Television news footage showed long queues ... ( read original story ...)
Hong Kong budget 2017 as it happened: Paul Chan announces HK$92 billion surplus
“Born and raised in Hong Kong, I love this city as much as all of you do,” Chan says, as he ends his maiden speech. “I strongly believe that Hong Kong people have the courage, wisdom and ability to overcome all difficulties. Together, we can rise to ... ( read original story ...)
Why it was ‘unfair’ to expect anything different from Paul Chan’s maiden budget for Hong Kong
To expect Financial Secretary Paul Chan, who is just two months into his post, to do something very different from previous budgets of the Hong Kong government is basically unrealistic and unfair. Judging from the 2017-18 budget, Chan has inherited the ... ( read original story ...)
HKD Gains as Hong Kong Introduces Tax Cuts to Stimulate Economy
It is pegged to the U.S. Dollar and allowed to move within a tight band set by the Hong Kong Monetary Authority. Market News Hexun News: Chinese leading online media of financial news. - Chinese insurance companies have held $49.2 billion foreign assets as ... ( read original story ...)
Hong Kong Halts Stock's 543% Debut in Volatile Equity Market
The regulator will likely speak to the IPO sponsors and interview significant buyers of GME stock and look into their background and source of funds, Neoh added. Run-ups such as GME’s highlight quirks in Hong Kong’s market for small-caps, where wild ... ( read original story ...)
Hong Kong Financial Secretary Paul Chan announces review of city’s narrow tax base ‘problem’
Financial Secretary Paul Chan Mo-po on Wednesday announced a new policy unit would be established in an effort to review Hong Kong’s tax regime and narrow the city’s tax base. In handing down the 2017-18 budget, Chan revealed his plan to widen the ... ( read original story ...)
Ex-Hong Kong leader jailed in fall from 'such a height'
HONG KONG Former Hong Kong leader Donald Tsang was jailed for 20 months on Wednesday for misconduct in public office, making him the most senior city official to serve time behind bars in a ruling some said reaffirmed the financial hub's vaunted rule of law. ( read original story ...)
IPO's 543% Surge Halted by Hong Kong Regulators on Its Debut
More than 20 million shares changed hands in morning session City’s second exchange under scrutiny over manipulation fears Hong Kong’s securities regulator suspended trading in a company’s stock after it rose 543 percent on its public market debut. ( read original story ...)
HSBC is getting hammered this morning after profit at Europe’s largest bank plunged 62%
HONG KONG/LONDON — Annual profit at HSBC Holdings slumped 62 per cent and fell far short of analysts’ estimates as Europe’s largest bank took hefty writedowns from restructuring and pointed to brakes on revenue growth. HSBC shares slid more than 6 ... ( read original story ...)
Hong Kong budget aims for tax cuts, tourism boost to revive growth
Hong Kong's economy grew at a slower pace of 1.9 percent last year and Financial Secretary Paul Chan Mo-po took steps on Wednesday in his first budget address to reverse course by cutting taxes, waiving fees for tourism firms and pledging better services. ( read original story ...)