Despite the temporary capital outflow caused by the US' hiking of interest rates, the Hong Kong Special Administration Region (HKSAR) has vast capability to maintain its Linked Exchange Rate System ... ( read original story ...)
Hong Kong’s monetary base is strong enough to uphold US dollar peg despite recent capital outflows, finance chief says
Financial Secretary Paul Chan notes city has US$440 billion in foreign currency reserves, part of solid foundation of linked exchange rate system But he also warns of 'considerable challenges' to pace ... ( read original story ...)
Hong Kong’s monetary base is strong enough to uphold dollar-peg system despite recent capital outflows, finance chief says
Financial Secretary Paul Chan says city has massive US$440 billion foreign currency reserve assets, part of solid foundation of linked exchange rate system However, Chan also warns of 'considerable ... ( read original story ...)
Chinese Communist Party branch formed in HSBC onshore venture
Employees at HSBC’s mainland China securities joint venture have formed a Chinese Communist Party (CCP) branch, in what is believed to be one of the first such branches formed in a foreign-owned ... ( read original story ...)
ED Attaches Nirav Modi Group’s Gems, Bank Deposits Over Rs 250 Crores In Hong Kong
Nirav Modi, 50, is presently lodged in a UK jail and has lost his extradition plea to India in connection with the USD 2-billion PNB fraud case that is also being investigated by the CBI. ( read original story ...)
Hong Kong billionaire to build $1.4bn cultural complex on the coast of China’s Shenzhen
Called K11 ECOAST, the development is reportedly worth $1.4bn and will span more than 2.4 million sq. ft. Located at the waterfront of Shenzhen, a fast-growing region in southeastern China, the ... ( read original story ...)
No Intention to Change USD Currency Peg, Hong Kong Monetary Authority Chief Says
By Clarence Leong The head of the Hong Kong Monetary Authority, the city's de facto central bank, on Friday defended the local currency's peg to ... ( read original story ...)
Gems, bank deposits among assets of Nirav Modi attached by ED in Hong Kong
Some assets of Nirav Modi group of companies in Hong Kong were identified in the form of gems and jewelleries lying in private vaults and bank balances in accounts maintained there and these have been ... ( read original story ...)
ED attaches jewels, bank deposits worth Rs 253 cr of Nirav Modi’s firms in Hong Kong
Some assets of Nirav Modi group of companies in Hong Kong were identified in the form of gems and jewelleries lying in private vaults and bank balances in accounts maintained there and these have been ... ( read original story ...)
ED attaches gems, bank deposits worth over ₹253 cr of Nirav Modi group in Hong Kong
The Enforcement Directorate Friday said it has attached gems, jewellery and bank deposits worth ₹253.62 crore of companies linked to fugitive diamond merchant Nirav Modi as part of a money laundering ... ( read original story ...)
Loss-making deals in Hong Kong’s secondary home market jump as sellers take a hit from rising rates, emigration wave
The number of loss-making lived-in home transactions surpassed 100 from March to June, much higher than a year earlier Leftover stock of new flats rose for three consecutive months to about 13,446 ... ( read original story ...)
HSBC says China’s Communist party branches have ‘no influence’
The bank, which has its headquarters in London but makes most of its revenues in Hong Kong and mainland China, did not comment on whether a CCP branch had been set up at one of its units. HSBC ... ( read original story ...)
Hong Kong Faces First Prime Rate Hike Since 2018 on Hawkish Fed
Hong Kong banks are set to lift prime rates for the first time in four years in response to the Federal Reserve’s aggressive policy tightening, spelling stress for one of the world’s most expensive ... ( read original story ...)
HSBC insists Communist party branches have ‘no influence’
The bank, which has its headquarters in London but makes most of its revenues in Hong Kong and mainland China, did not comment on whether a CCP branch had been set up at one of its units. HSBC ... ( read original story ...)