penetration rate of Asia’s IAMs exceeds 65% — well above private banks’ average of approximately 8% HONG KONG, June 8, 2018 /PRNewswire/ — Asian Private Banker, in collaboration with leading Swiss private bank Julius Baer, has released its report ... ( read original story ...)
PNB fraud case: Nirav Modi’s five dummy firms in Hong Kong whose owners earned Rs 8,000 got Rs 8,000 crore LoUs
Owners and directors of at least five Hong Kong firms that allegedly received about Rs 8,270 crore from Letters of Undertaking (LoUs) issued by Punjab National Bank, on behalf of jeweller Nirav Modi, used to earn only between Rs 8,000 and Rs 30,000 every ... ( read original story ...)
Hong Kong’s health care expertise can unlock potential of ‘Greater Bay Area’, says former financial secretary
In the not-so-distant future, Hongkongers will be able to live out their golden years in Zhuhai, Shenzhen – or any of the nine mainland cities within the “Greater Bay Area” in southern China, all within a short drive from Hong Kong. They could drive ... ( read original story ...)
Xiaomi gets IPO nod from HK exchange, say sources
Offering could become world's largest first-time share sale since Alibaba's listing BEIJING • Xiaomi has won Hong Kong stock exchange approval for its planned initial public offering (IPO), which would be the first listing in the city with weighted ... ( read original story ...)
Ant Financial raises $14 billion in world’s largest-ever single fundraising
Deutsche Bank, Citigroup, China International Capital Corp, CITIC Securities, JPMorgan and Morgan Stanley acted as financial advisors to Ant. Reporting by Adam Jourdan in SHANGHAI, Cate Cadell in BEIJNG, and Julie Zhu and Kane Wu in HONG KONG; Editing by ... ( read original story ...)
HK, China agree on cross-boundary supervision
The China Banking and Insurance Regulatory Commission and the Securities and Futures Commission of Hong Kong have entered into a memorandum of understanding regarding the cooperation and exchange of information in connection with the supervision and ... ( read original story ...)
SuperCharger Fintech Accelerator Raises $14.4 Million, Lands 47 Deals in Most Recent Hong Kong Cohort
In April, Standard Chartered officially opened its Hong Kong innovation lab, the eXellerator ... the next generation of FinTech entrepreneurs that could potentially shape banking trends.” Standard Chartered also launched SC Ventures this year. ( read original story ...)
Tencent tumbles, weighing on Hang Seng index as US takes aim at Google’s ties with Chinese firms
Chinese internet conglomerate Tencent Holdings tumbled on Friday, dragging Hong Kong’s benchmark with it ... over its ties with Huawei and few other Chinese tech firms. The Hang Seng Index fell 1.8 per cent, or 554.42 points, to 30,958.21, halting ... ( read original story ...)
Gay rights failures are holding back Asia banking: Nisha Gopalan
In Asia, Singapore, Hong Kong and Tokyo risk falling short on measures two and three because of their backward attitude toward gay rights. In failing to recognize LGBT rights, each risks losing talent to places such as New York and London. That’s ... ( read original story ...)
SuperCharger HK 2018 raises US$14.4m and seals 47 commercial deals
technology companies and industry partners in Hong Kong and the region, to come together and explore new ways to solve business problems and create new value propositions. The Bank also launched SC Ventures this year. This is a new business unit set up ... ( read original story ...)
China policy bank reports over $100b loans to SCO countries
An employee counts Chinese one-hundred yuan banknotes at the Bank of China Hong Kong Ltd headquarters in Hong Kong, Nov 12, 2016. [Photo/VCG] BEIJING - China Development Bank (CDB), a major policy bank, has so far loaned more than $100 billion to members ... ( read original story ...)
Hong Kong regulator fines HSIM for breach of fund rules
Hong Kong’s Securities and Futures Commission (SFC ... HSIM is the asset management arm of local lender Hang Seng Bank. The disciplinary action followed an independent review jointly agreed by the SFC and HSIM, according to a May 31 statement from ... ( read original story ...)
Hong Kong stocks rise to three-week high as risk appetite improves and trade war concerns fade
Hong Kong stocks rose for a sixth day, sending the benchmark gauge to its highest level in three weeks, as fears of a global trade war eased and investors’ risk appetite returned with US technology stocks rising to records. The Hang Seng Index added 0.8 ... ( read original story ...)
Global shares fall ahead of G7 summit, central bank meetings
Hong Kong's Hang Seng slipped 1.9 per cent at 30,910.89 ... "Then there's that small matter of the European Central Bank and Federal Reserve Board meetings, which could be very crucial for the markets next tack." ENERGY: Benchmark U.S. crude dipped ... ( read original story ...)