Tag: finance

There have been fierce debates in the United Kingdom and the rest of Europe since the Brexit vote about what might happen to the City of London in terms of its position as the world’s pre-eminent financial services centre. These arguments by ... ( read original story ...)

The Hong Kong Monetary Authority, the city’s de facto central bank, intervened in the foreign currency market to defend the Hong Kong dollar on Tuesday, bringing its total purchases of its own currency since April to about HK$52.9 billion (US$6.7 billion). ( read original story ...)

The HKMA’s intervention on Wednesday, using its reserves to sell US$200m and buy HK$1.57bn, marked the 14th time that it has stepped in to prop up the persistently weak local currency in the past month, The de facto central bank has spent a total of HK$ ... ( read original story ...)

Canaan Creative has applied to the Hong Kong stock exchange for an IPO while Zhejiang Ebang Communication has started working with advisers on a Hong Kong float, according to IFR, a Thomson Reuters publication. While the price of bitcoin BTC=BTSP has ... ( read original story ...)

Hong Kong’s IPO chasers are spoilt for choice. Fancy a glittering Chinese tech firm with ambitions to take on Apple Inc.? Or are duller state-owned giants more your thing? Two megadeals are vying for attention in what’s become a busy year for new ... ( read original story ...)

China Tower Corp., the state-owned wireless infrastructure operator, filed for an initial public offering in Hong Kong that could match the city’s biggest since 2010. While the world’s largest telecom tower service provider didn’t give a fund-raising ... ( read original story ...)

THE 45-year-old rising star executive running Commonwealth Bank’s finances has unexpectedly quit the lender to help run a cryptocurrency company in Hong Kong. Rob Jesudason, who took over the powerful role of chief financial officer last July on a salary ... ( read original story ...)

HONG KONG (Reuters) - China Tower, the world’s biggest operator of mobile phone towers, has applied to list its shares in Hong Kong in what could become the city’s second $10 billion offering this year. The company, formed in 2014 from the towers ... ( read original story ...)

The Hang Seng China Enterprises Index, which tracks Hong Kong-listed Chinese companies ... AIA Group rose 2.13 per cent to HK$74.35, China Construction Bank climbed 1.83 per cent to HK$8.35 and HSBC added 1.10 per cent to HK$78.40. The three shares ... ( read original story ...)

in 2016 in Hong Kong was taken up by cornerstones. Chinese regulators do not officially call them conerstone investors, but sources close to the Foxconn deal said they are similar to conerstones. Foxconn unit’s IPO, which would be the largest domestic ... ( read original story ...)

HONG KONG (Reuters) - HSBC Holdings Plc (HSBA.L) said on Monday it has performed the world’s first trade finance transaction using a single blockchain platform, in a push to boost efficiency in the multi-trillion-dollar funding of international trade. ( read original story ...)

Standard Chartered today raised its forecast for Hong Kong’s economic growth for this year and next year. The bank predicted gross domestic product to grow from 3.2 percent to 3.8 percent this year. It also revised upward its projection for next year ... ( read original story ...)

An ABC-TV Four Corners program about HSBC — the Hong Kong and Shanghai’s Banking Corporation’s reveals the scope of the global financial institution’s scandal-ridden operations. The French-TV made “Banksters” claims HSBC was the go-to bank for ... ( read original story ...)

New Delhi: Just months before the Nirav Modi scam tumbled out, Punjab National Bank (PNB) quietly recalled two employees, both internal auditors posted at the lender's Hong Kong and Dubai branches after they exposed a deep rot within its banking system. ( read original story ...)