Hong Kong’s banks, blindsided by rising funding costs due to the city’s costly defense of its currency peg, are clamping down on popular fixed-rate mortgages. These loans were provided at 1.68 percent for the first year of a new mortgage, lower than ... ( read original story ...)
Hong Kong’s Currency Defense Kills Fixed-Rate Mortgage Market
Hong Kong’s banks, blindsided by rising funding costs due to the city’s costly defense of its currency peg, are clamping down on popular fixed-rate mortgages. These loans were provided at 1.68 percent for the first year of a new mortgage, lower than ... ( read original story ...)
Hong Kong is so expensive that a single parking space just broke a property record
A car space in Hong Kong's Kowloon district is being rented for or HK$10,000 (US$1,274). This appears to be the most rent ever paid for a Hong Kong parking space, costing more than some of the city's smallest apartments. Hong Kong continues to break ... ( read original story ...)
Hong Kong Monetary Authority bought HK$51 billion during 13 interventions to stabilise currency against US dollar
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 ...)