That policy practically rules out lending to most startups. P2P may sound like a good idea. But, it has not taken off in Hong Kong because of potential lenders' worries about its security. Such concerns stem mainly from the fact that P2P platforms are a ... ( read original story ...)
RBC reviews Asia wealth business for possible sale: sources
Last year, Barclays agreed to sell its wealth and investment management business in Hong Kong and Singapore to a unit of Singapore’s Oversea-Chinese Banking Corp (OCBC). A crackdown on money laundering by Asia’s main private banking centres is forcing ... ( read original story ...)
Exclusive: China considers faster IPO approval to lure large tech deals – sources
The $25 billion record IPO of e-commerce giant Alibaba in New York in 2014 was a high-profile loss for mainland China and Hong Kong, where the company initially intended to list. More recently, however, some Chinese companies have opted to quit New York ... ( read original story ...)
Sri Lanka 'hunting' refugees who sheltered Snowden in Hong Kong
They also plan to file a police report. Mr Thilina, who arrived in Hong Kong in 2005, said he was frightened by the news. "I am nervous and scared. I don't have a normal life now," he said. His compatriot, Mr Kumara, an army deserter who served as an ... ( read original story ...)
AIA Group expands new business despite China curbs
AIA Group Ltd (1299.HK), the world's third-largest life insurer by market value, said on Friday new business rose 28 percent in 2016, buoyed by strong customer demand in its main markets in China and Hong Kong. Value of new business rose to $2.75 billion ... ( read original story ...)
HSBC warns of risks to world economic growth as profit dives
HONG KONG - London-based bank HSBC reported Tuesday that its annual profit slumped following a year it said would be remembered for "unexpected economic and political events" and warned of risks in 2017 to the global economy's continuing recovery. ( read original story ...)
GoHome.com.hk Releases Hong Kong Property Market Perspective Survey
- Hong Kong citizens continue to see local homes as overpriced and the cooling measures ineffective in stabilising property prices. Housing prices are expected to grow in 2017. - The majority of respondents are unsatisfied with the housing policy last year ... ( read original story ...)
Donald Tsang: Hong Kong former leader sentenced to 20 months
Former Hong Kong leader Donald Tsang has been sentenced to 20 months in prison for misconduct. Tsang led Hong Kong from 2005 to 2012 and is the most senior official in the territory ever to stand trial for corruption. He was found guilty last week of ... ( read original story ...)
Over 30,000 gather to support jailed Hong Kong cops: reports
More than 30,000 people gathered in Hong Kong Wednesday to show their support for seven police officers who were sentenced to two years in jail for beating up a pro-democracy activist in 2014, reports said. Television news footage showed long queues ... ( read original story ...)
Hong Kong budget 2017 as it happened: Paul Chan announces HK$92 billion surplus
“Born and raised in Hong Kong, I love this city as much as all of you do,” Chan says, as he ends his maiden speech. “I strongly believe that Hong Kong people have the courage, wisdom and ability to overcome all difficulties. Together, we can rise to ... ( read original story ...)
Why it was ‘unfair’ to expect anything different from Paul Chan’s maiden budget for Hong Kong
To expect Financial Secretary Paul Chan, who is just two months into his post, to do something very different from previous budgets of the Hong Kong government is basically unrealistic and unfair. Judging from the 2017-18 budget, Chan has inherited the ... ( read original story ...)
HKD Gains as Hong Kong Introduces Tax Cuts to Stimulate Economy
It is pegged to the U.S. Dollar and allowed to move within a tight band set by the Hong Kong Monetary Authority. Market News Hexun News: Chinese leading online media of financial news. - Chinese insurance companies have held $49.2 billion foreign assets as ... ( read original story ...)
Hong Kong Halts Stock's 543% Debut in Volatile Equity Market
The regulator will likely speak to the IPO sponsors and interview significant buyers of GME stock and look into their background and source of funds, Neoh added. Run-ups such as GME’s highlight quirks in Hong Kong’s market for small-caps, where wild ... ( read original story ...)
Hong Kong Financial Secretary Paul Chan announces review of city’s narrow tax base ‘problem’
Financial Secretary Paul Chan Mo-po on Wednesday announced a new policy unit would be established in an effort to review Hong Kong’s tax regime and narrow the city’s tax base. In handing down the 2017-18 budget, Chan revealed his plan to widen the ... ( read original story ...)