Hongkongers are set to foot a bigger bill than expected for the Hong Kong-Zhuhai-Macau bridge after latest estimates showed the cost for the bridge had overrun by one-third, or HK$11.8 billion. Although the main section of the project – a 22.9km ... ( read original story ...)
Tencent links up in BOCHK pay push
BOC Hong Kong (2388), a unit of Bank of China, will reportedly team up with Internet giant Tencent Holdings (0700) to introduce a new cross-border digital wallet. The bank's digital wallet will directly connect with Tencent's flagship WeChat Pay. ( read original story ...)
Hang Seng launches three ‘southbound’ Hong Kong Stock Connect indices
It has 275 constituents, the largest of which is Tencent Holdings (11.5%), China Construction Bank (8.1%) and China Mobile (5.3%). The Hang Seng SCHK ex-AH Companies Index tracks companies only listed in Hong Kong, providing relevant benchmarks for ... ( read original story ...)
HSBC Private Bank fined record HK$400 million, as appeals tribunal concludes earlier SFC sanction ‘was correct’
HSBC Private Bank (Suisse) was fined a record HK$400 million (US$51.2 million) on Tuesday by the Securities and Futures Commission, after losing its appeal against a 2015 ruling for misconduct relating to the sale of structured products linked to Lehman ... ( read original story ...)
Former Hong Kong home secretary turned ‘civil diplomat’ Patrick Ho tapped UN connections to broker deals
A practising eye surgeon before he joined the Hong Kong government in 2002 ... “I don’t find any problems in his honesty,” Ip said, saying he was shocked by the news. He confirmed that Ho had rather strong ties with Beijing officials among the ... ( read original story ...)
As Hong Kong lags behind competitors, vocational education needs a boost to shed ‘low class’ image
Hong Kong tied for 25th place with New Zealand and Sweden, beating larger countries like the US and Spain, with the delegation taking home one bronze medal and seven medallions of excellence, which meant the participants achieved above-average scores in ... ( read original story ...)
Hong Kong Startups Win Alibaba Entrepreneurs Fund Backing
Three Hong Kong-based start-ups on Tuesday each won up to US$1 million in investment from the Alibaba Hong Kong Entrepreneurs Fund’s Jumpstarter competition. Surgical robotics firm CuttingEdge MedTech, green energy solutions provider En-Trak and ... ( read original story ...)
Hong Kong entrepreneurs on how to make your start-up a success
It is almost 6pm on a Friday and Janet Middlemiss is running around the WeWork office in Wan Chai. She is jumpy because the soft launch is taking place for Born to be the Boss, a self-help guide for budding entrepreneurs that Middlemiss co-authored with ... ( read original story ...)
Hong Kong Banks Shun Bitcoin, Driving Startups to Seek Foreign Banks
Hong Kong banks have frozen and closed accounts of bitcoin businesses, forcing the companies to open foreign accounts, according to the South China Morning Post. A representative of Hang Seng Bank advised the Gatecoin exchange on Sept. 15 that its account ... ( read original story ...)
Hong Kong bourse ‘needs to create conditions’ to attract listings from technology firms
The rules of the main board of Hong Kong’s stock exchange should be reviewed so that Chinese technology companies with dual-class share structures could list, boosting the city’s attractiveness as a destination for firms to go public. That was the view ... ( read original story ...)
HSBC Fined a Record $51 Million Over Lehman-Linked Products
HSBC Holdings Plc’s private-banking unit was fined a record HK$400 million ($51 million) over sales of structured products linked to Lehman Brothers Holdings Inc. in Hong Kong. HSBC Private Bank (Suisse) SA will have its license to advise on securities ... ( read original story ...)
Hong Kong finance chief seeks mainland tax break for city’s researchers
Hong Kong’s financial secretary said on Tuesday that he wanted researchers from the city who go to the mainland to develop new technology to be exempted from paying tax there. But Paul Chan Mo-po admitted that the response to that idea in Beijing had ... ( read original story ...)
HSBC Private Bank fined record HK$400m, as appeals tribunal concludes earlier SFC sanction ‘was correct’
HSBC Private Bank (Suisse) has been fined a record HK$400 million (US$51.2 million) by the Securities and Futures Commission, after losing its appeal against a 2015 ruling for misconduct relating to the sale of structured products linked to Lehman Brothers. ( read original story ...)
US arrests ex-Hong Kong and Senegal officials in bribery case
These are external links and will open in a new window US authorities have arrested a former home secretary of Hong Kong and Senegal's ex-foreign ... the Ugandan foreign minister at the time to secure business advantages for the Chinese firm. ( read original story ...)