The number of Hong Kong-based start-ups has boomed in recent years. According to InvestHK’s report last year, there are more than 1,900 start-ups in Hong Kong. Many young entrepreneurs are bringing new ideas and unique products to the market using their ... ( read original story ...)
Hong Kong electric car start-up Thunder Power eyes China market
Hong Kong-based electric vehicle company Thunder Power has thrown down the gauntlet to carmakers and tech giants around the globe, claiming that its vehicles will have revolutionary wireless charging, autonomous driving capabilities and a range that will ... ( read original story ...)
Employees win, providers lose in Hong Kong MPF’s low-fee reform
Hong Kong’s Mandatory Provident Fund market may see more consolidation as reforms taking effect on April 1 slash income from fees by up to 40 per cent, forcing smaller providers out of the market. From Saturday onwards, all 18 MPF providers are required ... ( read original story ...)
120 sacked HSBC technologists must stay in Hong Kong banking or face 20% pay cuts
If you’ve just been laid off from HSBC’s Hong Kong tech team, you should try to stay in banking – even if that means retraining. http://news.efinancialcareers.com/sg-en/278578/banking-tech-cvs-stand-out/ The 120 technology staff recently laid off by ... ( read original story ...)
Send in the clowns: Hong Kong chief executive-elect gets advice from an unlikely quarter
As Hong Kong’s new leader reflects on a baptism of political fire and ponders the stark reality of making good on a campaign pledge to heal a divided city, advice has arrived from an unlikely quarter. In the week that saw Carrie Lam Cheng Yuet-ngor ... ( read original story ...)
Hong Kong Warns on Home Loan Risks, Daily Says, as Prices Soar
The Hong Kong Monetary Authority has warned banks in the city over the rising risks of property lending, according to the Oriental Daily, just as home prices notch up another record in the world’s most expensive housing market and Citigroup Inc. sees an ... ( read original story ...)
Bank of China beats estimates to post highest profit rise among big state-owned banks
BOC’s Hong Kong subsidiary, Bank of China Hong Kong, more than doubled its profits in 2016 to HK$55.5 billion thanks to the HK$30 billion gain from the sale of its interest in Nanyang Commercial Bank last year. Once this and other one off elements were ... ( read original story ...)
Hong Kong trade finance goes Deloitte-fully blockchain
and trade finance banks in Hong Kong have developed a distributed ledger technology (DLT) proof of concept (PoC) for trade finance. Industry participants include Bank of China (Hong Kong), the Bank of East Asia, Hang Seng Bank, HSBC and Standard Chartered ... ( read original story ...)
Hong Kong’s richest man in deal to buy Reliance Home Comfort for $2.1 billion
Li Ka-Shing, Hong Kong’s richest man, is adding to his assets in Canada with the purchase of Reliance Home Comfort from Alinda Capital Partners for $2.82 billion. The purchase of the water heater and air conditioner firm will be made through CKP (Canada ... ( read original story ...)
Reliance Home Comfort sold for $2.8B to Hong Kong firm
One of Hong Kong's richest families is planning to buy Reliance Home Comfort, an Ontario-based company that services home furnaces and air conditioning systems. Alinda Capital Partners is selling Reliance for $2.82 billion Cdn to a subsidiary of Cheung ... ( read original story ...)
Guotai Junan’s Hong Kong IPO sees cautious response from retail investors
Guotai Junan Securities has received a relatively cautious response from retail bidders for its HK$16.47 billion initial public offering, the biggest one in Hong Kong this year. Analysts said investors are wary of Chinese brokerages as the industry is ... ( read original story ...)
Hong Kong education chief insists controversial school competence test should go ahead in May
The education chief defended his decision to maintain a controversial competence test for all local primary schools in May, insisting the plan should not be aborted due to “political change”. Eddie Ng Hak-kim spoke up on Thursday after his boss ... ( read original story ...)
David Beckham Mistakes Hongkong For China, Infuriating Citizens
Football star and the other half of the iconic Beckham couple David Beckham received immense backlash from Hongkong citizens after he shared a Facebook status as having enjoyed his time in China when he was in Hongkong for two days. According to Indian ... ( read original story ...)
China convicts 2 activists who supported Hong Kong protests
BEIJING — Two Chinese rights activists who were detained after they supported pro-democracy protests in Hong Kong in 2014 were convicted and sentenced Friday on charges of inciting subversion of state power, their lawyer said. The convictions of women's ... ( read original story ...)