Hong Kong GDP grew 4.7% year-on-year in 1Q18 ... The producing legal entity ING Bank N.V. is authorised by the Dutch Central Bank and supervised by the European Central Bank (ECB), the Dutch Central Bank (DNB) and the Dutch Authority for the Financial ... ( read original story ...)
Standard Chartered hires for key team in Hong Kong and Singapore
as it continues its efforts to bolster its private bank. Last month, Claudia Loh joined as an executive director in Singapore and Samuel Chang came on board as a director in Hong Kong. Both now work in work in wealth transformation, according to their ... ( read original story ...)
Bank of India files lawsuit against Nirav Modi in Hong Kong court for recovery of $6.25 million
State-owned Bank of India on Monday filed a lawsuit against fugitive fraudster Nirav Modi in a Hong Kong court for the recovery of the money he had drawn from the bank on the basis of illegally secured Letters of Undertaking. The public sector bank moved a ... ( read original story ...)
Financial services firms in Hong Kong are expanding. Here’s who they want to hire
Hong Kong’s importance as a regional financial hub is increasing, creating significant career opportunities for professionals in the sector. The large international banks are expanding their private wealth arms as they look to capture the Mainland ... ( read original story ...)
HSBC corporate clients in 24 markets offered use of facial recognition technology
HSBC is to introduce facial recognition technology for its corporate clients in 24 markets worldwide, including Hong Kong and mainland China, instead of them having to use passwords to log onto their mobile accounts. The bank said the latest move will ... ( read original story ...)
Xiaomi sued for alleged patent infringement ahead of blockbuster IPO
which last week filed for a Hong Kong IPO that could be worth up to $10 billion, for patent infringement. Coolpad said in a statement late on Thursday its subsidiary, Yulong Computer Telecommunication Scientific (Shenzhen) Co Ltd filed a lawsuit against ... ( read original story ...)
Hong Kong money laundering: The river runs through it
While Hong Kong struggles to reduce and contain money laundering activities at existing financial institutions, the role of cryptocurrencies in undermining compliance and enforcement capabilities is overlooked. Hong Kong’s financial institutions are ... ( read original story ...)
Exclusive Hong Kong Bankers Club in Central to make way for restaurant as landlord won’t renew lease
The Hong Kong Bankers Club is looking for a new home as the landlord Hongkong Land wants to lease its 7,000 square feet premises in Gloucester Tower to a restaurant operator in a bid to attract more traffic to its interconnected Landmark shopping centre ... ( read original story ...)
HKMA poised to launch HK$150 million pilot bond scheme
In 2017, Hong Kong’s total issuance of US dollar, euro, yen and local currency denominated bonds was US$467 billion, according to data from the Asian Development Bank. That was 10 per cent of Asia’s total – excluding Japan’s total bond issuance of ... ( read original story ...)
Fitch sounds warning on HK banking system’s integration with China
Fitch has issued a warning over the increasing integration of Hong Kong’s banking environment with China’s financial system. The ratings agency has downgraded its view on the operating environment for Hong Kong’s banks due to what it says is the ... ( read original story ...)
China bitcoin miner Canaan ditches US for Hong Kong IPO
Canaan Creative, China’s second-largest bitcoin mining hardware maker, is planning to seek an initial public offering in Hong Kong instead of the US, which if successful would make it the first blockchain-related company to list on the city’s bourse ... ( read original story ...)
Hong Kong’s Hang Seng leads gains for most of Asia as Trump Iran decision awaited
Hong Kong’s Hang Seng Index HSI, +1.36% led gains in the region ... “It is ironic that price increases—which the Bank of Japan has been working so hard to realize—are now weighing on consumption and dragging down the economy,” he added. ( read original story ...)
Hong Kong stocks sink below key 30,000 level on HSBC decline, trade tensions
Hong Kong interest rates are climbing after the intervention by the Hong Kong Monetary Authority in April to defend the local currency’s peg to the US dollar. Hang Seng Bank lost 2.1 per cent to HK$196.50 and China Construction Bank shed 1.1 per cent to ... ( read original story ...)
Hong Kong Shares Draw Flat Lead For Wednesday
Galaxy Entertainment and BOC Hong Kong both added 0.37 percent and Hong Kong & China Gas was up 0.24 percent. The lead from Wall Street conveys little guidance as stocks saw a negative bias throughout much of Tuesday's trade before ending roughly flat. ( read original story ...)