“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 ...)
Hong Kong prepares for a new era of ‘smart banking’
The governor of Hong Kong's central bank has spelled out a series of up-and-coming reforms - from the introduction of faster payments to open API standards - intended to prepare the territory for a revolution in retail banking services. In a speech to a ... ( read original story ...)
Thousands rally for democracy in Hong Kong
HONG KONG -- Thousands of pro-democracy supporters took to the streets of Chinese-controlled Hong Kong on Sunday to protest against what they say is the Beijing-backed government's use of the courts to pursue its opponents. Demonstrators marched through ... ( read original story ...)
US supercarrier to dock in Hong Kong before joint drills in shadow of North Korea crisis
A US supercarrier is set to make a port call in Hong Kong this week before heading to waters near the ... part in exercises with the South Korean navy around October 15,Yonhap News Agency cited a Seoul defence official as saying. Concerns have grown ... ( read original story ...)