Tag: finance

Following the completion of a public consultation, the Hong Kong Monetary Authority (HKMA) on Wednesday published a revised “Guideline on Authorization of Virtual Banks”, saying it expects to receive applications for virtual bank licenses by August 31. ( read original story ...)

Strong regulatory support from MAS buoyed the lion city to score the APAC crown. Singapore easily beat Hong Kong and Australia in its readiness for open banking, according to a report by the International Data Corporation. The report assesses a country's ... ( read original story ...)

Hong Kong’s monetary authority is moving to issue its first batch of virtual bank licenses as soon as the end of this year in a push to tap into smart banking and fintech expansion. The Hong Kong Monetary Authority, the special administrative region’s ... ( read original story ...)

The Hong Kong Government has made it clear that it has no plan to issue official Digital Currency at present but will continue to explore the possibilities. This was stated by Joseph Chan, Acting Secretary for Financial Services and the Treasury, in the ... ( read original story ...)

The Hong Kong Monetary Authority (HKMA) has received more than 50 expressions of interest for virtual banking licenses, which require a minimum capital of HK$300 million. However, the central bank has rejected a recommendation from a public consultation ... ( read original story ...)

Chinese conglomerate HNA Group's Hong Kong Airlines is considering an initial public offering in the "short to medium term" and tapping investors to raise funds through the issue of new shares and convertible bonds, a document reviewed by Reuters shows. ( read original story ...)

Hong Kong Airlines, a unit under China's HNA Group, is raising funds ahead of a planned initial public offering, according to a document reviewed by Reuters. The airline tried to go public a few years ago, but eventually abandoning those plans in 2015 ... ( read original story ...)

Lawyers for a division of Hong Kong’s largest bank hit back on Wednesday at accusations ... Barrister Paul Girolami QC, for HSBC International Trustee, made his rebuttal a day after lawyers for the widow of late tycoon Lo Ying-shek, a co-founder of ... ( read original story ...)

More than 50 companies from across the world have expressed interest in applying for virtual bank licences, with Hong Kong Monetary Authority setting August 31 as the deadline for receiving applications for the first batch of purely online banks. ( read original story ...)

In June 2017 Hong Kong's central bank and banking regulator, the Hong Kong Monetary Authority, and the Office of Financial Development Service of the Shenzhen Government agreed to strengthen co-operation in fintech between Hong Kong and Shenzhen. ( read original story ...)

Hong Kong's rising affluent have a strong distrust of financial advisors compared to their counterparts in the United States when making investment decisions, a survey by brokerage Charles Schwab has found.The survey polled Hong Kong investors who had an ... ( read original story ...)

Flowering Tree Investment Management’s Rajesh Sachdeva, SC Lowy Financial (HK)’s Michel Lowy and Oasis ... Carson Block and hedge fund manager Dan David backfired as the Hong Kong stocks they targeted rallied. As some of the region’s top managers ... ( read original story ...)

BOC Credit Card and Sa Sa International Holdings (0178 ... Meanwhile, Sa Sa plans to open another five to seven stores in Hong Kong, but is not looking at buying any premises at the moment, according to chief executive Simon Kwok Siu-ming. ( read original story ...)

The Financial Reporting Council (Amendment) Bill of 2018 is working its way through the legislative process in Hong Kong. Unfortunately, the proposal falls far short of what is needed. I fear that the legislators have fallen into the trap of finding ... ( read original story ...)