Financial Services
Lower investments loom as private debt swells 228.7% of GDP in Q3
The weakness of the HKD may prompt corporates to debt servicing instead.
Lower investments loom as private debt swells 228.7% of GDP in Q3
The weakness of the HKD may prompt corporates to debt servicing instead.
Hong Kong loses to Singapore in managing the assets of the world's wealthy
However, a growing preference of China’s HNWI for closer wealth managers is fast narrowing the gap.
Xiaomi IPO to make millionaires out of rank and file workers
Fifty six employees who pooled money to fund the startup in 2010 can make 200-fold return.
Insurance tax bill gazetted
It enables a tax deduction for residents buying health insurance under the VHIS.
Property developer to default on dollar bonds amidst rising borrowing costs
Hsin Chong Group’s inability to pay its debt mimics Noble Group's insolvency situation.
Citigroup fined $57m for IPO sponsor failures
The SFC slammed Citi’s ‘inadequate and substandard’ due diligence work on Real Gold’s flotation.
Tax amendment bill passed
It aims to implement tax measures proposed in the 2018/19 budget speech.
HKMA purchases $9.5b in HKD to defend flailing currency peg
The central bank has spent a total of $62.41b to protect its currency system.
Can back-to-back blockbuster IPOs live up to the hype?
Despite being oversubscribed, shares of tech startups have struggled to deliver on their promise.
Bitcoin mining hardware firm files for $1b IPO in Hong Kong's first cryptocurrency flotation
Canaan Inc accounts for about 15% of the global bitcoin mining chip market.
Hang Seng Bank rolls out AI chatbot for business banking
The virtual assistant BERI will be available on the bank’s website and mobile app.
Can Hong Kong steal the wealth manager crown from Switzerland?
The banking secrecy capital's dominance has been on a steady decline since 2010.
Hong Kong to host another blockbuster IPO with China Tower's flotation
The mega offering comes recently after Xiaomi’s recent public debut.
Fintech loan platform pushes to be Hong Kong's first licensed virtual bank
WeLab is backed by financial heavyweights like Alibaba and IFC.
Government eyes $36,000 tax break to incentivise retirement saving
It would apply to residents who voluntarily top up their MPF account.
US biotech firm mulls Hong Kong IPO following bourse reform
Stealth BioTherapeutics is reportedly seeking around $200m for its public debut.
Central bank paves way for fintech application in lending
Instead of collecting income proof assessing creditworthiness, banks may use big data and other fintech.
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