Tag: finance

HONG KONG (Reuters) - HSBC (HSBA.L) reported a sharper-than-expected 86 percent fall in pretax profit for the third quarter as the British lender booked a $1.7 billion loss on the sale of its Brazilian unit and it was also hit by adverse foreign currency ... ( read original story ...)

HONG KONG (Reuters) - HSBC (HSBA.L) reported a worse-than-expected 86 percent fall in pretax profit for the third quarter, as it accounted for the $1.7 billion in loss resulting from the sale of its Brazilian unit and adverse foreign currency movements. ( read original story ...)

HONG KONG - HSBC Corp. says its latest quarterly profit rose nearly 7 per cent over a year earlier as the global bank cut costs and revenue rose. HSBC said Monday that its third-quarter profit was $5.6 billion. Revenue rose 2 per cent to $12.8 billion. ( read original story ...)

Women make up almost half the labour force in Hong Kong, but only a quarter of the members of the Chartered Financial Analyst (CFA) Institute are women, a report finds. As a global financial hub, Hong Kong has almost 7,000 CFA charter holders – an ... ( read original story ...)

but most important of all don't break any rule here or outside Hong Kong." China's biggest bank card provider UnionPay last week tightened rules on how customers can use its debit and credit cards to purchase Hong Kong insurance products, raising concerns ... ( read original story ...)

FRANKFURT Deutsche Bank (DBKGn.DE) has received regulatory approval for the sale of its 20 percent stake in Chinese peer Hua Xia (600015.SS) to PICC Property and Casualty (2328.HK), it said on Thursday. Deutsche Bank had said in the past that it was ... ( read original story ...)

Publisher's "Retail Banking Country Snapshot: Hong Kong 2016" reviews the retail banking sector in Hong Kong, with a particular focus on the current account, savings, mortgage, and personal loans markets. It includes both market-level data and insight from ... ( read original story ...)

The bank no longer has an IPO sponsorship license in Hong Kong. Standard Chartered said it has spent $2.1 billion on restructuring since last November. Standard Chartered is getting rid of loans that were made in the past but are now outside a new risk ... ( read original story ...)

The court heard that Jutting was moved by Bank of America Merrill Lynch from London to Hong Kong in September 2013, allegedly because of a dubious tax project he undertook in London that brought the bank under scrutiny. It was during his year working in ... ( read original story ...)

Bank of America, Hong Kong, where Jutting worked. Wikimedia Commons The defense has also argued that Jutting, a 31-year-old Cambridge university graduate, felt huge stress during his banking career. Reading said Jutting only worked for 10-15 days in the ... ( read original story ...)

The Hong Kong Securities and Futures Commission has fired a warning shot at banks, with both Standard Chartered and UBS being investigated for their roles as IPO sponsors. The move has left other banks wondering which one will be next and comes at a time ... ( read original story ...)

Turnover totaled 54.88 billion HK dollars (about 7.08 billion U.S. dollars). The Hang Seng China Enterprises Index moved down 37.86 points, or 0.40 percent, to close at 9,482.01. Banking giant HSBC, which accounts for the largest weighting of the Hang Seng ... ( read original story ...)

"The Hong Kong SAR government has not requested the Standing Committee of the National People’s Congress to exercise its power of interpretation." Any intervention by Beijing in the case would increase concern about the financial hub's autonomy and ... ( read original story ...)

Hang Seng Bank is the third largest and one of the best managed in Hong Kong, but its financial position slowly deteriorates due to the slowdown in China. In terms of Price/Earnings and Price/Book Value, Hang Seng's stock is very expensive, particularly ... ( read original story ...)