News
Hong Kong publishes revised code of banking practice
Hong Kong publishes revised code of banking practice
Institutions are expected to achieve full compliance within 6 months.
Two extreme typhoons push claims incurred to HK$1.9b – HKIA
Property damage and motor businesses were the two most affected lines of business.
HKIA seeks public input on subsidiary legislation for risk-based capital regime
This consultation comes after the implementation of the Risk-based Capital (RBC) regime.
65% expect surge in insurance M&A in HK and S’pore for 2024: Survey
Diversified investments, consolidation, new tech, and emerging regulations drove this sentiment upward.
Hong Kongers used credit cards more on average in Q3: study
Card origination volumes contracted, but average card limits are higher.
Swire Properties will buy back shares worth $6b from the open market
It will commence its buyback programme on 6 December.
Cathay buys back 50% of preference shares it issued to the gov’t
It plans to buy back the remaining shares by the end of July 2024.
HK’s total gross premiums dip 1% in the first nine months
Hong Kong’s long-term or life business experienced a contraction, whilst the general business witnessed growth.
Hong Kong, Thailand launch cross-border QR payment service
HSBC and Bangkok Bank serve as settlement banks.
Prime hotel, industrial building in East Kowloon up for sale
The properties are sold for $2.22b and $180m, respectively.
WTW taps new executive director of large accounts practice HK, Macau
Ellen Fung will focus on elevating the Hong Kong market across various lines of WTW business.
ESR applies to list logistics REIT on the Shanghai Stock Exchange
The REIT will handle three projects in Kunshan, Jiangsu Province.
2023 sets the record for most failed bids in Hong Kong’s land supply history
Six of the nine tenders this year were unsuccessful.
ING coordinates US$260m sustainability-linked loan for HK’s Hop Lun
Hop Lun designs and manufactures products for more than 200 brands.
Hang Seng Bank warns of phishing SMS messages, fake WhatsApp accounts
These phishing SMS and fake accounts prompt users to provide their banking info.
Tap & Go joins Hong Kong-Thailand cross border retail payment service
Hong Kong Tap & Go customers can now pay in Thailand locally with just their app.
Crypto-focused SEBA Bank rebrands to AMINA Bank
It recently clinched a license to offer regulated services in Hong Kong.
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