One of the money laundering syndicates linked with the Commonwealth Bank compliance scandal worked with drug smugglers who imported methamphetamine worth $315 million, the largest ice seizure in West Australian history. The Hong Kong-linked syndicate used ... ( read original story ...)
Another strong month of hiring sends stock indexes higher
Bank of America climbed 60 cents ... the Nikkei 225 index in Japan fell 0.4 percent while South Korea's Kospi added 0.4 percent. The Hang Seng in Hong Kong edged up 0.1 percent. ( read original story ...)
CBA heads to court over money laundering allegations
AUSTRAC alleges in this case that by April 2015 the bank had identified "repeated, suspicious and connected" patterns of deposits but still permitted the transfer of money to accounts in Hong Kong. Anti-money laundering laws in Australia require the ... ( read original story ...)
Asia stocks edge higher, dollar languishes on U.S. politics, mixed data
China's blue-chip CSI 300 lost 0.3 percent, while Hong Kong's Hang Seng gained 0.1 percent ... and held near that level on Friday, after the Bank of England's policymakers kept interest rates at a record-low 0.25 percent. "The unsavory combination of ... ( read original story ...)
What every Canadian investor needs to know today
Royal Bank of Scotland shares were about 2 per cent higher on after ... The Shanghai composite index was down 0.35 per cent and Hong Kong's Hang Seng edged up 0.12 per cent. Oil prices were lower early Friday as concerns about rising output continued ... ( read original story ...)
U.S. dollar is broken, so Canadian dollar may win ‘just by default’
To be sure, there’s far more than a weak U.S. dollar driving the Canadian currency, including a strong economy and a shift by the Bank of Canada ... and the Shanghai composite 0.3 per cent, while Hong Kong’s Hang Seng gained 0.1 per cent. ( read original story ...)
Review: Thai Airways Business Class, Boeing 747 Hong Kong to Bangkok
I have such a love-hate relationship with Thai Airways Business Class. On one hand, Thai provides a fantastic ground experience in Bangkok with complimentary massages, spa services and tranquil spaces to rest and relax before your flight. But on the other ... ( read original story ...)
Stella McCartney’s eco-friendly fashion is fuelled by her innovative and tenacious spirit
McCartney managed to pack our interview, a VIP cocktail and a dinner into her less than 12-hour transit in Hong Kong. McCartney showed up for our ... According to a report by McKinsey & Company, the fashion industry produces 100 billion items a year ... ( read original story ...)
Chinese Wealth Manager Plans Branches in Australia and Canada
“When I joined Noah three years ago, I thought clients in second- and third-tier cities had no demand for overseas investment,” said Lam, who had worked for 15 years at McKinsey & Co ... first overseas branch in Hong Kong in 2012 and set up the ... ( read original story ...)
Hongkong Land net profit more than doubles
Hongkong Land Holdings announced on Thursday (3 August ... “The good performance of the group’s investment property portfolio is expected to continue in the second half of the year, although the contribution from development properties will not ... ( read original story ...)
China blacklists nine HSBC mutual funds for IPO violations
“Even though IPO returns are decreasing this year, the CSRC wants to punish some funds that have misbehaved in the past,” said Hao Hong, head of research for Bocom International in Hong Kong. HSBC Jintrust, a joint venture between HSBC Global Asset ... ( read original story ...)
Hong Kong stocks up for 4th week, resources and financials lend support
Aug 4 (Reuters) - Hong Kong stocks inched up on Friday to post their fourth consecutive week of gains, helped by a robust rally in resources and financial firms. The strength on Wall Street also boosted risk appetite, as the Dow Jones Industrial Average ... ( read original story ...)
Drop ‘miserly’ fiscal policy to allow for budget deficits and boost economy – top financial adviser Joseph Yam
Executive Councillor Joseph Yam has criticised the former financial secretary for “being a miser,” urging Hong Kong to adopt a less rigid fiscal regime to allow for budget deficits as a measure to boost the economy. The comments came ahead of the ... ( read original story ...)
The Open University of Hong Kong Appoints Northern Trust as Global Custodian
finance unit at The Open University of Hong Kong. “The quality of product offerings, service expertise, and collaborative culture were key factors in our selection.” Founded in 1989, The Open University of Hong Kong (OUHK), formerly The Open Learning ... ( read original story ...)