Financial Services
Hong Kong to keep currency peg to US dollar, says Tsang
Hong Kong to keep currency peg to US dollar, says Tsang
William Ackman, founder of hedge fund Pershing Square Capital Management LP, will “lose a lot of money” on his bet that Hong Kong will amend its...
HSBC’s profit jumps 50% to US$7.2b in 3Q11
In Hong Kong, profit-before-tax was up by US$100m, boosted by strong growth in the commercial banking and global banking market.
Hong Kong promoted in LA
Financial Secretary John Tsang lured US businesses to take advantage of Hong Kong's being a global financial hub.
Hong Kong and Malta sign tax treaty
Hong Kong's Secretary for Financial Services and the Treasury, Professor K C Chan, signed a tax treay with the Republic of Malta.
Invest Malaysia presented to Hong Kong
Invest Malaysia has been presented to Hong Kong fund managers Bursa Malaysia Bhd in partnership with OSK Investment Bank. The second Invest Malaysia...
Hang Seng Securities and Guangzhou Securities set up JV
The company will provide Mainland customers with securities investment advisory services under China and Hong Kong Closer Economic Partnership...
BOC Hong Kong to offer $750m US notes
They will carry an interest rate of 3.75% and have a five-year maturity period from its issue date of 8 November 2011.
RMB deposits up 2.2% to 622.2b
Total remittance of the renminbi for cross-border trade settlement amounted to 190.6 billion yuan.
Exchange Fund assets plunge 37.1% to $2t
And Hong Kong dollar assets alone decreased by $22.3 billion.
September mortgage loans drop 6.4% to $13.8bn
Yet approvals for primary market transactions surged 2.6% to $2.6bn.
BoC emerges as Hong Kong’s top CNY-denominated bond underwriter
The Beijing-based bank beats HSBC in Dim Sum market in October.
HSBC appoints Henry Hou as head of Energy Solutions Sales
Before joining HSBC, Hou served in a number of roles at China's State Administration of Foreign Exchange for 11 years.
Julius Baer appoints Kaven Leung as CEO North Asia and Deputy CEO Asia
Leung has an extensive 25 years background in Asian private banking, including as a Partner of Goldman Sachs.
Fears escalate as China expansion threatens Hong Kong banks
Fitch estimates gross mainland exposure could rise to about 35% of Hong Kong banking assets by 2012.
Citibank Global Consumer Group appoints Christine Lam as deputy country business manager
She will oversee the overall operation and development of Citibank’s retail banking business in Hong Kong.
Sec. Tsang hails new RMB rules
Financial Secretary John Tsang welcomed the promulgation of new rules on renminbi trade between Hong Kong and the Mainland.
HSBC expands CNY trade services to all China branches
The move will provide the lender widest geographic RMB trade coverage among all foreign banks in China.
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