The Hong Kong Monetary Authority, the city’s de facto central bank, has since Thursday bought HK$51 billion of its own currency by selling US$6.54 billion worth of US dollars to defend the Hong Kong dollar, a move that its deputy chief executive said was ... ( read original story ...)
Why Hong Kong’s Central Bank Intervened and Should We Worry?
Hong Kong’s central bank is buying Hong Kong dollars for the first time since 2005. And lots of them, too. It follows a long slide in the local currency that took it to the lower end of its trading band against the U.S. dollar. In the first week alone of ... ( read original story ...
Hong Kong businesses push back against ‘unfair’ proposal allowing customers to call off pricey deals
Joseph Ho Shiu-chung, former president of the Cosmetic and Perfumery Association of Hong Kong, said banks might prolong the credit ... The cooling-off period would also apply to contracts signed outside business premises and via long-distance ... ( read original story ...)
Success of Hong Kong’s renewable energy plan depends on ‘salesmanship’ of power companies, experts say
The effectiveness of Hong Kong’s newly proposed scheme to spur investment in ... According to the Environment Bureau’s plan, households and business that install renewable energy facilities such as rooftop solar or wind systems may soon be able to ... ( read original story ...)
HSBC veteran in Hong Kong takes COO job at expanding rival
A 14-year HSBC veteran in Hong Kong has left for an expanding Asian bank in the city. https://news.efinancialcareers.com/sg-en/313325/morgan-stanley-jobs-asian-2018/ Mizuho has hired a 14-year HSBC veteran as a Hong Kong-based chief operating officer. ( read original story ...)
PolyU and AMTD launch AMTD FinTech Centre of PolyU Faculty of Business – the first university-industry collaborated FinTech centre in Hong Kong
The launch ceremony of the Centre on PolyU campus was officiated by Mr Nicholas W. Yang, GBS, JP, Secretary for Innovation and Technology of the Hong Kong Special Administrative Region. Dr Annie Wu, SBS, JP, Chairperson of the Global Advisory Committee of ... ( read original story ...)
Hong Kong most expensive in APAC for business travel
Hong Kong is now the most expensive location for business travellers, having overtaken Tokyo which drops to second spot, revealed the latest Daily Rates research published by ECA International. Lee Quane, regional director – Asia for ECA International ... ( read original story ...)
Hong Kong Polytechnic University Teams Up With AMTD to Launch AMTD FinTech Centre of Business Faculty
The Hong Kong Polytechnic University (PolyU), announced on Thursday it has teamed up with AMTD Group Company and AMTD Foundation to launch a new university-industry collaborated fintech center. According to PolyU, the AMTD Fintech Center of PolyU Faculty ... ( read original story ...)
What Can I Expect from Hong Kong Property Taxes?
Every week, Mansion Global poses a tax question to real estate tax attorneys. Here is this week’s question. Q: I am trying to get the full financial picture of buying in Hong Kong, where real estate prices are sky high. What is the property tax there like? ( read original story ...)
How this $160m Hong Kong startup runs its engineering team
Founded as EasyVan in 2013, Hong Kong-based Lalamove set out with a vision of making on-demand local deliveries faster and easier. In a little under five years, the logistics startup has raised $160 million, employs 1,500 employees worldwide, and has a ... ( read original story ...)
Didi Chuxing to accept cashless payments in Hong Kong cabs for first time
Hong Kong’s taxi drivers have frequently faced criticism for their refusal to move with the times and fully embrace electronic payments as an alternative to cash. That has not stopped some of the biggest players in the mobile payments game trying to ... ( read original story ...)
Search on for identity of suspected jaywalker who died after being hit by Hong Kong taxi
... the identity of a suspected jaywalker in Hong Kong who died after being knocked down by a taxi in the heart of Hong Kong’s business district before dawn on Wednesday. After the road fatality, police arrested the taxi driver on suspicion of dangerous ... ( read original story ...)
Credit Suisse gets license for wealth management business in Philippines
HONG KONG (Reuters) - Credit Suisse Group AG (CSGN.S) said on Thursday it has received regulatory approval to launch its wealth management business in the Philippines, allowing the Swiss bank to tap the growing onshore wealth in the Southeast Asian country. ( read original story ...)
Asia’s most expensive cities for business travel
Hong Kong, Tokyo, Singapore (joint third), and Seoul (joint third) are now the most expensive Asian locations for business travel, revealed ECA International’s Daily Rates research. Updated annually, ECA’s Daily Rates reports provide average costs for ... ( read original story ...)