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Tag: finance

Posted on 01/11/2021

HSBC reports 76% jump in third-quarter profit, plans $2 billion share buyback

The bank's reported pre-tax profit came in at $5.4 billion in the third quarter of 2021 — beating expectations. ( read original story ...)

Posted on 31/10/2021

Hong Kong insurers bank on technology to detect fraudulent claims in one corner of US$75 billion industry

Hong Kong insurers are strengthening their efforts to stamp out fraudulent claims involving critical illness policies following a rise in such cases in one small corner of the city’s US$74.7 billion ... ( read original story ...)

Posted on 30/10/2021

HSBC Asset Management selects head of stewardship and engagement

Before joining HSBC AM, Ms. Chow was a member of the London School of Economics' investment committee. She also is on the board of the International Corporate Governance Network and is an honorary ... ( read original story ...)

Posted on 29/10/2021

Evergrande technically defaulted, forcing HSBC and other international banks to write off 197 billi

This could have serious implications for major international banks such as HSBC. According to their figures for the third quarter of 2021, Hong Kong's largest bank alone has extended loans totaling 19 ... ( read original story ...)

Posted on 29/10/2021

Hong Kong bank deposits grew 3.4 per cent in first nine months of 2021 as record fundraising from popular IPOs brought in capital

The amount of money deposited in Hong Kong’s banks jumped in the first nine months of this year as investors targeted a series of hotly-anticipated initial public offerings (IPOs) in the city, a trend ... ( read original story ...)

Posted on 29/10/2021

Alibaba-Backed Huitongda May Delay $1 Billion Hong Kong IPO

Huitongda Network Co., an e-commerce platform that serves rural China, is considering delaying its planned Hong Kong initial public offering to next year, according to people familiar with the matter. ( read original story ...)

Posted on 29/10/2021

Hong Kong police arrest 32 for selling their bank accounts to scammers who used them to launder US$1.2 million

Twelve domestic helpers were among the five men and 27 women arrested when police mounted an operation against cyber deception in Western district. ( read original story ...)

Posted on 29/10/2021

Is Hong Kong’s status as Asia’s financial capital at risk?

With the 2019 protests and imposition of the National Security Law, plus Covid-19 border closures, is Hong Kong's label as Asia's financial capital at risk? Katie Silver reports ... ( read original story ...)

Posted on 29/10/2021

Exclusive: Hong Kong’s PAG seeking to raise $9 billion with new buyout fund -sources

HONG KONG (Reuters) - Asia-focused investment firm ... when levels ranged between $150 million to $230 million. Yahoo Finance Video ... ( read original story ...)

Posted on 29/10/2021

Hong Kong Stock Market Expected To Snap Losing Streak

The Hang Seng Index now rests just ... Hang Lung Properties spiked 1.86 percent, Hong Kong & China Gas sank 0.51 percent, Industrial and Commercial Bank of China and Xiaomi Corporation both ... ( read original story ...)

Posted on 29/10/2021

Police find body of solo hiker on Hong Kong hillside days after he set off alone

He was found dead in the area four days later. Last month, the body of Shou Fugang, 59, former chairman of Bank of Communications (Hong Kong), was found at Tam Chai Shan, also known as Mount Hallowes, ... ( read original story ...)

Posted on 28/10/2021

AM Best Affirms Credit Ratings of Bank of China Group Insurance Company Limited

HONG KONG, October 28, 2021--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of Bank of China Group ... ( read original story ...)

Posted on 28/10/2021

Hong Kong housewife swindles finance firms out of US$4 million by using forged documents to mortgage homes owned by in-laws, ex-clients

A Hong Kong housewife on Thursday admitted swindling more than HK$32 million (US$4.1 million) from financial institutions and lenders by using forged legal documents to mortgage properties owned by ... ( read original story ...)

Posted on 28/10/2021

Inflation Weighs On The Mainland As Hong Kong Internet Rebounds

Real estate was off in both Hong Kong and China after property developer Kaisa Group (1638 HK) fell -18.49% after its bonds were downgraded by credit rating agencies. I’ve often believed that rating ... ( read original story ...)

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