Trump’s Treasury Secretary Steven Mnuchin has recommended delaying new global bank trading book rules, a step Australia, Hong Kong and Singapore are also taking - and the European Union is resisting, potentially fragmenting standards for a period. ( read original story ...)
BEA Union becomes first Hong Kong fund house to sell its products in Switzerland
BEA Union Investment Management has become the first Hong Kong-based fund house to gain approval to sell its products in Switzerland under a new cross-border trading scheme. “Switzerland is well known for its wealth management and private banking services. ( read original story ...)
Thousands pour into Hong Kong roads in protest
Hong Kong — Tens of thousands marched in China-ruled Hong Kong on Sunday in an "anti-authoritarian rule" march that called for the resignation of the city’s top legal official over the recent jailing of young democracy activists. The march, an annual ... ( read original story ...)
Mark Tucker wastes no time choosing next HSBC chief
“Retail banking is good when it’s deep like in Hong Kong or the UK, but not when you are spread too thinly. He is likely to look at this with a slightly sharper pencil.” HSBC has done more than 80 disposals in seven years, exiting consumer banking ... ( read original story ...)
Hong Kong, thousands march for democracy on Chinese national holiday
A day not for celebration, but for "national sadness" for the "status of the rule of law in Hong Kong." The memory of the three young Occupy Central activists sentenced to months in jail by will of the city government. "Political persecution" also for co ... ( read original story ...)
Stock Picker Who Snared a 7,000% Hong Kong Return Eyes His Next Win
He’s betting it will benefit from increasing demand for credit just as European bank stocks begin to shed the gloom that depressed valuations in the aftermath of the financial crisis. A U.K. legal dispute hanging over Deutsche Pfandbriefbank’s stock ... ( read original story ...)
The AI haves are pulling ahead of have-nots, McKinsey study finds
Hong Kong-based startup CompareAsiaGroup ... It requires a shift in mindset as well as a complete overhaul of processes in many cases. McKinsey estimates that smart factories – dubbed the fourth industrial revolution or Industry 4.0 – can boost ... ( read original story ...)
A Hong Kong apartment sets an Asian price record, amid government curbs
Hong Kong home prices hit all-time highs this year ... The local monetary authority in the same month introduced fresh curbs on second-home mortgages as well as borrowers whose income is derived mainly from overseas sources. The recently sold home was ... ( read original story ...)
Hong Kong’s Airport Needs US$8.8 Billion Debt for Third Runway
... Authority Hong Kong needs to raise HK$69 billion (US$8.8 billion) to fund the runway, and should consider selling bonds and tapping the loan market, according to a report by its financial consultant HSBC Holdings Plc. Asia's busiest international ... ( read original story ...)
The AI haves are pulling ahead of the have-nots, McKinsey study finds
Hong Kong-based startup CompareAsiaGroup ... It requires a shift in mindset as well as a complete overhaul of processes in many cases. McKinsey estimates that smart factories – dubbed the fourth industrial revolution or Industry 4.0 – can boost ... ( read original story ...)
Who can grab the opportunity as Uber’s Asian ride gets bumpy?
In Hong Kong this week, Grab co-founder Tan Hooi Ling told This Week in Asia the company was not resting on its laurels. The 33-year-old former McKinsey consultant cofounded Grab with Anthony Tan, the scion of a Malaysian automotive empire, while they were ... ( read original story ...)
1.4 billion touchscreens can’t be wrong: Chinese mobile-pay culture takes great leap
In less than five years, Chinese families famous for saving 40 percent of their annual income under the mattress at home have embraced the Big Data lifestyle in ways that leave arguably more mature digital marketplaces such as Hong Kong gasping like Wile E. ( read original story ...)
‘The problem of budget hotel quality wasn’t being solved’
Last week, Treebo raised $34 million, its highest investment round yet, from Hong Kong-based investment firms Ward Ferry ... about entrepreneurship was in school. But then I joined McKinsey as a consultant. While at McKinsey, I saw the startup ecosystem ... ( read original story ...)
Thousands in Hong Kong participate in ‘anti-authoritarian rule’ march against China
Pro-democracy activists carry a banner reading "anti-authority, against suppression", during a protest on China's National Day in Hong Kong Thomson Reuters HONG KONG (Reuters) - Tens of thousands marched in China-ruled Hong Kong on Sunday in an "anti ... ( read original story ...)