Tag: banking

HONG KONG For mainland Chinese, a visit to Hong Kong feels like a voyage back in time. At home they spend weeks without a visiting an ATM or a bank. They use mobile wallets to pay for meals, bills and cabs, or even donate to beggars; they invest their ... ( read original story ...)

HONG KONG China Tower Corp has picked China International Capital Corp Ltd (CICC) (3908.HK) and Goldman Sachs (GS.N) to lead a planned Hong Kong initial public offering worth up to $10 billion, people with direct knowledge of the plans said on Thursday. ( read original story ...)

Bank of China (Hong Kong) ("BOCHK") received the Best SME's Partner Gold Award 2017 from the Hong Kong General Chamber of Small and Medium Business ("HKGCSMB"), in recognition of our long-standing support to the small and medium enterprises ("SMEs") in ... ( read original story ...)

HONG KONG Hong Kong's next leader said on Wednesday she would work to rebuild "social harmony" and push economic development while announcing a new cabinet with few new faces to govern the financial hub. Carrie Lam, 60, Hong Kong's first female chief ... ( read original story ...)

HONG KONG — In many places, US$664,000 can buy you a nice house ... buying a property is not only one of the most important decisions in life, it is also a financial transaction entailing significant leverage through borrowing.” For his money, Kwan ... ( read original story ...)

HONG KONG Shares in Guangzhou Rural Commercial Bank Co Ltd (GRCB) (1551.HK) traded mostly flat in their debut on Tuesday as retail investors shied away from the largest IPO in Hong Kong so far this year, a sign of diminishing interest in financial sector ... ( read original story ...)

Hong Kong’s property market is in a dangerous situation and vulnerable to a correction, Financial Secretary Paul Chan said in an interview. The warning comes as rate hikes by the U.S. Federal Reserve send borrowing costs higher in Hong Kong, given the ... ( read original story ...)

Every swipe on a smartphone brings a smile to Yeung Kin-man’s face. He is the founder of Biel Crystal Manufactory, the world’s largest producer of cover glass, used in two of every three of Apple’s iPhones sold in the world. Yeung plans to sell Biel ... ( read original story ...)

As top banks such as Goldman Sachs, UBS, and Bank of America trim their Asia headcount, businesses across Hong Kong have taken a direct hit. Bo Innovation, a Michelin-star restaurant, said its Western expat customers fell roughly 10 percent in the last 10 ... ( read original story ...)

Hong Kong’s banks are better prepared than 20 years ago for a property market crash, even amid the world’s highest real estate prices, because the banking regulator had already forced lenders through eight rounds of mortgage tightening measures ... ( read original story ...)

HONG KONG The Hong Kong stock exchange unveiled on Friday a long ... The HKEX said the move was necessary to diversify from traditional old economy sectors such as financials and real estate, warning the bourse was at risk of stagnating if it did not ... ( read original story ...)

Andrew Sullivan remembers the days when a young Brit could hustle his way into a job in Hong Kong finance. He ought to know: He did it. It was 1996, the twilight of British Hong Kong, when Sullivan arrived with a resume that couldn’t get him into a bank ... ( read original story ...)

JAKARTA Indonesia and Hong Kong have agreed to share financial information that will give the Indonesian tax office access to data on taxpayers who have accounts in the wealth management hub, Indonesia's finance ministry said on Friday. The government of ... ( read original story ...)

Hong Kong, which last week joined the Beijing-led Asian ­Infrastructure Investment Bank by agreeing to pay US$155 million over five years, is now lobbying the AIIB to set up a regional office in the city, Financial Secretary Paul Chan Mo-po told the ... ( read original story ...)