HONG KONG (Reuters) - A HNA Group unit said it has pledged about 41 percent of the company as collateral for a loan from a Hong Kong private equity firm, part of a slew of fundraising efforts by the Chinese conglomerate to address a liquidity crunch. ( read original story ...)
Computer shops embrace lucrative business: outfitting cryptocurrency miners
motherboards and power supplies in Hong Kong and mines cryptocurrencies in Russia, where electricity is cheaper and the climate is more suitable. The demand for the rigs has added a new dimension to Asia’s tech shopping hubs whose once bustling business ... ( read original story ...)
HNA’s Hong Kong Property Sale Eases the Pain of Shrinking
Who Is Liable To Pay For Rs 11,000-Crore Fraud At PNB? The Nirav Modi Case: How The $1.8 Billion Fraud Detected At PNB Unfolded No More Lies: An Ultimatum for India's Banks MSCI, India's Singapore Ban Just Handed You a Big Whip Ex-Clerk From Noida, Lady ... ( read original story ...)
Oxfam Hong Kong loses 715 donors worth over HK$1.1 million a year as prostitution scandal rocks charity’s British arm
Oxfam Hong Kong has lost 715 local donors in the past 11 days who collectively gave the organisation more than HK$1.1 million a year, as a prostitution scandal involving seven staff members continues to rock the charity’s British arm. The number is a ... ( read original story ...)
Hong Kong to liberalise rules for cross-media ownership in first major broadcasting policy change in 17 years
Restrictions on cross-media ownership in Hong Kong are set to be liberalised, under a government proposal announced on Tuesday to revise broadcasting regulations widely viewed as outdated since they were enacted 17 years ago. A three-month public ... ( read original story ...)
Surging Hong Kong Drove $158B Asia Pacific Property Deal Peak in 2017
Hong Kong shouldered aside Tokyo to take the crown as the most active metropolitan investment market in Asia Pacific last year, with deals for income-producing assets jumping 39 percent year-on-year to $20.9 billion, according to a new report by Real ... ( read original story ...)
Hong Kong gold exchange seeks to create gold trading corridor along Belt and Road
The Chinese Gold & Silver Exchange Society (CGSE), Hong Kong’s gold exchange, is in talks with Singapore, Myanmar and Dubai to establish a gold commodity corridor to promote yuan-denominated products under China’s Belt and Road Initiative, according to ... ( read original story ...)
HSBC shares fall in Hong Kong after bank reports 141 per cent profit rise for 2017
HSBC said on Tuesday that its reported pre-tax profit for 2017 stood at US$17.2 billion, up 141 per cent on the equivalent figure for 2016, when the bank booked losses on a number of one-off items. The market, however, reacted badly to the announcement ... ( read original story ...)
Hong Kong Disneyland Proclaims Recovery, as Losses Deepen
Asian theme park, Hong Kong Disneyland is “back on (a) trajectory of growth,” operators proclaimed on Tuesday. But losses in 2017 doubled to $44.4 million (HK$345 million) in the year to September 2017, up from $22 million (HK171 million in 2015-2016). ( read original story ...)
Hong Kong Disneyland falls further into red as losses double in 2017 to hit HK$345 million
Hong Kong Disneyland Resort lost some of its magic on Tuesday when it revealed its financial deficit had more than doubled in 2017 to hit HK$345 million (US$44.1 million). The Lantau Island theme park, in which the Hong Kong government is the ... ( read original story ...)
Nirav Modi’s Taiwan, Surat, Hong Kong and Dubai connections
Documents accessed by Business Standard show owners of suspected Hong Kong-based shell companies are spread across the globe. Documents accessed by Business Standard show some of the Hong Kong-based entities to which at least $45 million was paid in less ... ( read original story ...)
Don’t pit sports against housing, Hong Kong Golf Association head says as task force eyes Fanling course
Don’t pit golf against the city’s need for more homes, the Hong Kong Golf Association head said on Tuesday as he urged the government to look for land elsewhere to deal with the housing shortage. The association’s CEO, Danny Lai Yee-june, said ... ( read original story ...)
HSBC annual profit rises as Asian growth drives earnings
HONG KONG — HSBC said Tuesday that profits rose on strong earnings from Asia, in the latest sign that the London-based global bank’s restructuring to focus even more on the region is paying off. The bank said pretax profit, after adjusting for one-off ... ( read original story ...)
HSBC annual profit disappoints, plans up to $7 billion capital raising
HONG KONG/LONDON (Reuters) - HSBC Holdings (HSBA.L) reported a jump in annual pre-tax profit that missed expectations and unveiled a plan to raise up to $7 billion over the next four months to bolster its capital base, as the bank prepares for growth under ... ( read original story ...)