Financial Services
Hong Kong inks deal with Germany for cross-border securities regulation
Hong Kong inks deal with Germany for cross-border securities regulation
It was signed by the Securities and Futures Commission and Bundesanstalt fur Finanzdienstleistungsaufsicht.
SFC slaps wealth management firm Noah Holdings with $5m fine
The company sold unsuitable investment products as a result of defective risk profiling questionnaires.
SFC slaps Hang Seng Bank's investment arm with $3m fine
The firm failed to comply with cash management guidelines involving SFC funds.
Approved mortgage loans down 5.6% to $37.3b in April
However, the number of mortgage applications rose to 14,898.
Hong Kong loses to Singapore in open banking readiness
Lack of clear guidelines from the central bank weighed on the city's competitiveness.
Virtual banks are no longer a thing of the future in Hong Kong
The central bank is aiming to award licenses towards the end of the year.
Iceland biotech firm mulls US$350m pre-IPO fundraising
Alvotech’s potential IPO is another win for Hong Kong bourse which recently liberalised its listing regime.
Alibaba sells medical assets to Hong Kong arm for $10.6b
Alibaba Health Information Technology will control the Tmall and adult products business.
Chinese drug developer Shenogen tapping banks for $300m IPO
The company is the latest to take advantage of relaxed listing rules.
Xiaomi guns for June 7 blockbuster IPO hearing
The much-anticipated public debut could raise as much as $10b.
The world watches as China's payment giants barge into Hong Kong
Banks have reason to fear as Alipay and WeChat Pay continues to expand their foothold.
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.
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