Financial Services
Can Hong Kong banks meet IFRS 9 requirements on time?
Can Hong Kong banks meet IFRS 9 requirements on time?
Profitability may be hit amidst higher provisioning prerequisites.
Steeper mortgages may loom as HIBOR extends climb to 1.32%
This comes as a result of the purchases made by HKMA to support the struggling dollar.
Standard Chartered unveils innovation laboratory in Kwun Tong
‘eXellerator’ will act as a testing space for the bank’s fintech products and services.
Xiaomi reportedly tapped Citic Securities for CDRs amidst mega IPO preparations
The smartphone maker is gunning for $100b valuation in its public debut.
HKMA capital injection fails to buoy local currency
The HKD is still traded at $7.85 against the USD.
Higher interest rates loom amidst weakening dollar: FS Chan
Consumers may shoulder higher mortgage repayments soon.
SFC slaps Instinet Pacific with $17.3m fine
The electronic trading company’s algorithms generated false market orders thrice.
HKMA purchased $3.26b in local currency to boost struggling dollar
This comes as the Hong Kong dollar plunged to a thirteen year low.
Hong Kong ramps up efforts to capture GBA's insurance market
A new licensing regime for the regulation of insurance intermediaries is in the works.
Hong Kong to link central bank system with Japan for faster cross-border transactions
These will streamline transactions of Japanese government bonds and Hong Kong dollars.
Chinese TMT companies zero in on Hong Kong for public debuts
Their combined IPO proceeds accounted for more than half of total proceeds at $32.11b.
Hong Kong beats Singapore as APAC's easiest city for financial compliance
It remains one of the easiest locations to do business globally.
Loan growth poised to crash as home prices falter
Analysts expect the momentum to slow from 16.1% to 14% in 2018.
Clare.ai brings banking to clients' fingertips
Users can better manage finances through real-time correspondence with the virtual assistant.
Total deposits down 0.8% in February
Further decline was offset by high savings and time deposits.
Tax returns issued for 2017-18
However, the one-off reduction for tax duties announced in the budget address isn’t included yet.
Government surplus hits $7.16b in February as revenues exceed expenditures
Fiscal reserves similarly stood at a massive $1.13t.
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