A growing number of well-off Chinese are choosing to invest their wealth offshore, according to a latest McKinsey report ... and strengthen their private-banking teams in cities such as Hong Kong, Singapore, London and Zurich, to fight for a larger ... ( read original story ...)
Google, Tik Tok and why Hong Kong parents are to blame for children risking their safety online
An increasing number of Hong Kong children, it was reported, are becoming addicted to an iPhone app that risks violating their privacy and making them vulnerable to predators. Tik Tok, launched in September 2016, is a music video platform and social ... ( read original story ...)
I ate at Hong Kong’s ‘cafeteria for the wealthy,’ where the city’s rich and famous hobnob over flawless Cantonese food
For more than half a century, Hong Kong has been a city where the world's wealthy come to play, do hundred-million-dollar business deals, and wine and dine. Perhaps no restaurant in Hong Kong is more synonymous with wealth than Cantonese eatery Fook Lam ... ( read original story ...)
Hong Kong fashion brand Giordano removes sexist ad after social media backlash
Hong Kong fashion brand Giordano has been forced to remove what has been described as a “sexist” advertising campaign for a new clothing line after mounting public outcry on social media. The “Team Family Series” advert shows a family posing ... ( read original story ...)
Hong Kong high-speed rail link hit by another setback as water leaks into signalling system
The trial run of Hong Kong’s HK$84.4 billion cross-border high-speed rail link has run into its second glitch in less than two months. A section of its signalling system was affected by underground water leaks, something rail operator MTR Corporation ... ( read original story ...)
Is banks’ deposits race the first sign of Hong Kong’s property bubble bursting?
HSBC, Bank of China Hong Kong (BOC HK), Citi and many others have started offering rates as high as 2.7 per cent to lure deposits. Some analysts now believe zero rates for smaller depositors could soon become a thing of the past, at least for the ... ( read original story ...)
Why Hong Kong privacy watchdog has all but given up on investigating data breach complaints
Hong Kong’s privacy watchdog has all but stopped formally investigating data breach complaints with the number of cases plunging from more than 100 in 2014 to just one last year, a Post analysis shows. Privacy Commissioner Stephen Wong Kai-yi conceded ... ( read original story ...)
First look at Hong Kong police’s anti-riot vehicle with water cannons as shipment from France arrives
The first of three anti-riot vehicles armed with water cannons arrived in Hong Kong on Tuesday morning as exclusive pictures taken by the Post revealed the shipment from France at Kwai Tsing Container Terminals. The Mercedes-Benz vehicle, designed for ... ( read original story ...)
As bitcoin world wobbles, mining rig company plans $2 billion IPO
But the effects of bitcoin’s volatility and rising mining costs can be seen in the shops of Sham Shui Po, just a few kilometres from Hong Kong’s central business district, where the IPO has been filed. Businesses selling mining rigs there said demand ... ( read original story ...)
Stop Hong Kong’s shipping industry exodus to Singapore by spending reserves on loans and cutting profits tax, advisers say
Hong Kong should cut profits tax by half and provide loans for vessel owners and supporting professionals to lure shipping business back from regional rival Singapore, a task force set up by the government says. In a 34-page report released on Monday ... ( read original story ...)
Hong Kong’s tech ambitions given major boost with AI lab funding
It will collaborate with the Hong Kong Science and Technology Parks Corporation (HKSTP) to roll out a six-month accelerator programme starting September to nurture AI start-ups in the city. “SenseTime had the opportunity, the environment and the talent ... ( read original story ...)
Sydney-Hong Kong business class: Cathay Pacific vs Qantas vs Virgin
Receive 75,000 bonus Qantas Points when you spend $2,500 on eligible purchases In the first 3 months. Save $425 with no annual fee for the first year. Eligibility criteria, T&Cs, fees and charges apply. Click here now. If you’re among the million-plus ... ( read original story ...)
Case Study: PRADA’s Hong Kong IPO
Having already seen four previous attempts at an IPO thwarted by the post 9/11 market gloom and the 2008 global financial crisis, PRADA, the Italian family-owned luxury goods and fashion powerhouse and its leaders were acutely aware that floating company ... ( read original story ...)
Fintech startup Neat to seek ‘Virtual Bank’ license in HK
Hong Kong’s financial sector had long been dominated by traditional institutions, but in recent years the city has seen a rising number of fintech startups trying to push their way into the market on the back of innovation and technology development. ( read original story ...)