Tag: banking

State-owned Bank of India on Monday filed a lawsuit against fugitive fraudster Nirav Modi in a Hong Kong court for the recovery of the money he had drawn from the bank on the basis of illegally secured Letters of Undertaking. The public sector bank moved a ... ( read original story ...)

Hong Kong’s importance as a regional financial hub is increasing, creating significant career opportunities for professionals in the sector. The large international banks are expanding their private wealth arms as they look to capture the Mainland ... ( read original story ...)

HSBC is to introduce facial recognition technology for its corporate clients in 24 markets worldwide, including Hong Kong and mainland China, instead of them having to use passwords to log onto their mobile accounts. The bank said the latest move will ... ( read original story ...)

which last week filed for a Hong Kong IPO that could be worth up to $10 billion, for patent infringement. Coolpad said in a statement late on Thursday its subsidiary, Yulong Computer Telecommunication Scientific (Shenzhen) Co Ltd filed a lawsuit against ... ( read original story ...)

While Hong Kong struggles to reduce and contain money laundering activities at existing financial institutions, the role of cryptocurrencies in undermining compliance and enforcement capabilities is overlooked. Hong Kong’s financial institutions are ... ( read original story ...)

The Hong Kong Bankers Club is looking for a new home as the landlord Hongkong Land wants to lease its 7,000 square feet premises in Gloucester Tower to a restaurant operator in a bid to attract more traffic to its interconnected Landmark shopping centre ... ( read original story ...)

In 2017, Hong Kong’s total issuance of US dollar, euro, yen and local currency denominated bonds was US$467 billion, according to data from the Asian Development Bank. That was 10 per cent of Asia’s total – excluding Japan’s total bond issuance of ... ( read original story ...)

Fitch has issued a warning over the increasing integration of Hong Kong’s banking environment with China’s financial system. The ratings agency has downgraded its view on the operating environment for Hong Kong’s banks due to what it says is the ... ( read original story ...)

Canaan Creative, China’s second-largest bitcoin mining hardware maker, is planning to seek an initial public offering in Hong Kong instead of the US, which if successful would make it the first blockchain-related company to list on the city’s bourse ... ( read original story ...)

Hong Kong’s Hang Seng Index HSI, +1.36% led gains in the region ... “It is ironic that price increases—which the Bank of Japan has been working so hard to realize—are now weighing on consumption and dragging down the economy,” he added. ( read original story ...)

Hong Kong interest rates are climbing after the intervention by the Hong Kong Monetary Authority in April to defend the local currency’s peg to the US dollar. Hang Seng Bank lost 2.1 per cent to HK$196.50 and China Construction Bank shed 1.1 per cent to ... ( read original story ...)

Galaxy Entertainment and BOC Hong Kong both added 0.37 percent and Hong Kong & China Gas was up 0.24 percent. The lead from Wall Street conveys little guidance as stocks saw a negative bias throughout much of Tuesday's trade before ending roughly flat. ( read original story ...)

HONG KONG (Reuters) - A Hong Kong based NGO backed by regulators, former central bankers and government officials on Wednesday announced an alliance to fight money laundering and regulate the fast growing financial technology space across Asia. The ... ( read original story ...)

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 ...)