HONG KONG (Reuters) - Hong Kong’s securities regulator is pursuing disciplinary action against eight firms for alleged misconduct in their roles sponsoring initial public offerings (IPOs) in the Asian financial hub, a senior official said on Wednesday. ( read original story ...)
HK bolstering financial prowess
Financial Secretary Paul Chan: Hong Kong has also put in place a comprehensive anti-money laundering and counter-terrorist financing regime. It's built on a robust legal framework, effective law enforcement, rigorous preventive measures, capacity-building ... ( read original story ...)
Hong Kong airline Cathay Pacific sees annual loss, outlook upbeat
Hong Kong flag carrier Cathay Pacific on Wednesday booked the first ... The firm's report was its worst since 2008 during the global financial crisis, as lower-cost Chinese airlines ate into market share while it took a major hit from fuel costs. ( read original story ...)
IOI Prop scraps agreement with Hongkong Land
IOI Properties Group Bhd (IOI Prop) has terminated its agreement with Hongkong Land International Holdings Ltd ... This is because the group has sufficient in-depth expertise, financial capabilities and track record of other completed projects in Singapore ... ( read original story ...)
Hong Kong Bourse Ripe For Profit Taking
BOC Hong Kong added 0.38 percent and Henderson Land was unchanged. The lead from Wall Street is soft as stocks failed to hold a higher open Tuesday before sliding firmly into negative territory. The Dow slid 171.58 points or 0.68 percent to 25,007.03 ... ( read original story ...)
UBS sees ‘business as normal’ as it fights Hong Kong ban on IPO sponsorships
HONG KONG: UBS has told staff that it is “business as normal,” after the Swiss bank revealed on Friday it is fighting an 18-month suspension in Hong Kong from leading initial public offerings (IPOs). In an internal memo sent by Andrea Orcel and David ... ( read original story ...)
Reuters – UBS suspended by Hong Kong as IPO sponsor, will appeal
Reuters reports that The Hong Kong Securities and Futures Commission (SFC) had been investigating UBS’s role as a sponsor — or lead underwriter — of some IPOs listed on the Hong Kong Stock Exchange, it said. “In March 2018, the SFC issued a ... ( read original story ...)
Hong Kong tycoon linked to offshore tax havens flipping $18M Vancouver house through shell company
A Hong Kong property tycoon known as the “King of Shell Companies,” whose name appears in the Offshore Leaks database of tax haven clients, is trying to sell a house in Vancouver Westside for $18.88 million after buying it just three months ago for $14 ... ( read original story ...)
Wealth management in an era of robots, regulation, and new money
I’m delighted to be joined on the line by Joe Ngai, who is a partner in McKinsey’s Hong Kong office. Joe is the managing partner of McKinsey’s offices in Greater China overall. Joe, thanks very much for taking the time to speak. Joe Ngai: Of course. ( read original story ...)
Bitcoin start-ups in Asia take aim at remittances market
Used as a transfer mechanism rather than a currency, bitcoin circumvents banks’ transaction fees. Start-ups such as Bitspark in Hong Kong, and Bloom, Payphil, coins.ph and Satoshi Citadel Industries’ (SCI) remittance unit Rebit in Philippines ... ( read original story ...)
Hong Kong stocks end flat; financials gain on mainland regulatory revamp
The top gainer on Hang Seng was Hong Kong and China Gas Co Ltd up 1.79 percent ... The top gainers among H-shares were Agricultural Bank of China Ltd up 4.92 percent, followed by Guangdong Investment Ltd gaining 1.97 percent and Bank of China Ltd up ... ( read original story ...)
Hong Kong Startup Puts All Your Banks in a Single App
Gini, a local fintech startup, today announced the launch of its namesake app, the city’s first all-in-one personal financial management application. The gini app introduces a new alternative for Hongkongers to get insights into their spending habits ... ( read original story ...)
Hong Kong stocks slip ahead of key US, China economic data that should offer clues to health of the global economy
The Hang Seng Index retreated 0.3 per cent ... The Shanghai Composite Index was little changed. Agricultural Bank of China jumped in both Hong Kong and mainland trading, after proposing what could be the nation’s biggest ever private placement of ... ( read original story ...)
Official Draw for Hong Kong Sevens 2018
The Hong Kong Rugby Union (HKRU) held the official draw for the Cathay Pacific/HSBC Hong Kong Sevens 2018 and the World Rugby Women’s Sevens Series Qualifier 2018 at Hysan Place in Causeway Bay, Hong Kong on Monday. Three separate draws were held ... ( read original story ...)