Hong Kong: Global banking giant HSBC said Tuesday that net profit for 2016 fell 82 percent from the previous year, calling it a period remembered for its "largely unexpected economic and political events". The net profit of $2.48 billion compared with $13 ... ( read original story ...)
HSBC's 2016 pre-tax profit falls 62 percent on one-time charges
HONG KONG HSBC Holdings' (HSBA.L) 2016 pre-tax profit fell 62 percent, below analysts' estimates, as it grappled with slowing economic growth in its core markets of Hong Kong and Britain and took one-time charges related to some of its businesses. ( read original story ...)
HSBC says net profit dived 82% to $2.48 billion last year
HONG KONG: HSBC said Tuesday that net profit fell 82 percent in 2016, calling it a period remembered for its "largely unexpected economic and political events", while it warned of further uncertainty this year. The net profit of $2.48 billion compared with ... ( read original story ...)
HSBC says net profit dived 82 per cent to $2.48 bn last year
Group chairman Douglas Flint says geopolitical changes contributed to volatile financial market conditions. Hong Kong: HSBC said Tuesday that net profit fell 82 percent in 2016, calling it a period remembered for its "largely unexpected economic and ... ( read original story ...)
HSBC Slips After Reporting 62% Fall In 2016 Profit
HSBC‘s Hong Kong-listed stock (5.Hong Kong/HSBC) tumbled 3.6% on Tuesday afternoon after the British bank reported its full-year earnings. One-off items sank HSBC today. While adjusted revenue at HSBC was little changed in 2016, reported revenue was 20% ... ( read original story ...)
Hong Kong’s 12th fiscal surplus to fund education, innovation and a salaries tax rebate
Financial Secretary Paul Chan Mo-po will unveil a package of incentives to nurture education in Hong Kong and promote innovation and technology, as well as offer a salaries tax rebate when he delivers the government’s budget on Wednesday. Chan ... ( read original story ...)
More money, tax concessions and bigger rebates: a wish list for Hong Kong’s budget
Hong Kong’s annual budget will be unveiled by new Financial Secretary Paul Chan Mo-po on Wednesday. The budget is expected to outline relief measures to help boost the economy, improve livelihoods and benefit different commercial sectors through the ... ( read original story ...)
Singapore’s hope of beating Hong Kong in IPOs is a pipe dream
Hong Kong lost out on Alibaba’s IPO because the Chinese e-commerce giant was adamant on a tiered share structure that the city’s rules do not permit. SGX was edged out by the NYSE for the 2012 IPO of English football giant Manchester United for the ... ( read original story ...)
Hong Kong Disneyland posts 2016 loss on tourism softness
HONG KONG - Hong Kong Disneyland has posted another annual loss as attendance by mainland Chinese tourists dropped amid a softer tourism market. The park said Monday that it lost 171 million Hong Kong dollars ($22 million) on revenue of HK$4.8 billion for ... ( read original story ...)
Former Hong Kong leader remanded in custody ahead of sentencing
He faces a possible seven-year sentence. On Monday, Tsang, in a white shirt, dark suit and trademark bow tie, entered Hong Kong's High Court holding the hand of his wife Selina. His family remained silent throughout the hearing. Scores of high-profile Hong ... ( read original story ...)
Hong Kong Disneyland records loss for second year in a row, as mainland visitor numbers dwindle
Hong Kong Disneyland has announced a loss for 2016, its second loss-making year in a row, losing HK$171 million on fewer visitors from the mainland. Visitor numbers at the Lantau Island park dropped more than 10 per cent to 6.1 million last year according ... ( read original story ...)
Hong Kong union joins critics of McDonald's HK, China sale, sees pay squeeze
HONG KONG: The Hong Kong Confederation of Trade Unions (HKCTU) warned that McDonald's Corp's up-to-US$2.1 billion sale of its Hong Kong and China operations could hit workers' pay, adding to growing criticism of the deal on the mainland and elsewhere. ( read original story ...)
Huge lag in gender equality at work
A 2012 report on women in the workplace by McKinsey & Co showed the percentage of women professionals dropped from 52 at entry-level to 23 at mid-to-senior-management stage, to only 2 percent in CEO positions in Hong Kong. Singapore, Malaysia and Indonesia ... ( read original story ...)
Hong Kong stocks rise early on the coattails of the Dow’s 7-day winning streak
Hong Kong stocks advanced in early trading on Monday ... including the results of HSBC and Hang Seng Bank due on Tuesday. HSBC traded flat at HK$68.3. Hang Seng Bank dropped 0.3 per cent to HK$163. In the mainland, the Shanghai Composite gained 0.4 ... ( read original story ...)