Hong Kong
HKMA fines three banks for violating anti-money laundering policies
HKMA fines three banks for violating anti-money laundering policies
HKMA ordered fines and formulation of remedial measures.The Hong Kong Monetary Authority (HKMA) has conducted disciplinary action against Indian Overseas Bank, Hong Kong Branch (IOBHK), Bank of Communications (Hong Kong) Limited (BCOM(HK)), and Bank of Communications Co., Ltd., Hong Kong Branch (BCOM) for violating the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Chapter 615 of the Laws of Hong Kong) (AMLO) on 22 July.
New tax portals launched
This allows tax matters to be handled electronically.
Task force drafts proposed elderly-friendly building designs
Mandatory requirements for caring will be regulated in the first half of 2026.
Shangri-la Asia appoints Kuok Hui Kwong as new CEO
Kwong held leadership roles in the company since 2014.
China Vanke reports up to $13.15b net loss in H1
Basic loss per share ranged from $0.92 to $1.11.
Wing Tai and CSI Properties unveil "Central Crossing" in Central district
Located at 118 Wellington Street, the project is expected to be completed by mid-2026.
"Hostels in the City" scheme offers cost-effective hotel conversion option: CBRE
With minimal hotel supply growth projected (just 0.1% CAGR from 2025 to 2030), the overall hotel stock is expected to decline under the scheme.
Hong Kong’s surprise tender cancellation raises red flags for investors: CBRE
The decision was compared to a similar incident in 2021, when the government withdrew the sale of Tsing Yi Town Lot No. 200 due to its temporary use as a quarantine facility.
Lendela, TransUnion roll out free credit data checking tool in Hong Kong
Hong Kong consumers can check their credit score at no cost.
China CITIC Bank International to launch Payment Connect services
First 1,000 customers to complete transactions worth HK$1,000 can get a rebate.
HK men prioritise gadget fixes, banking over health concerns
Only 64% would see a health professional at all if something felt wrong.
Fast Charger Incentive Scheme to be launched on 25 July
Around 3,000 fast chargers are expected to be in service before the end of 2028.
Hong Kong inflation slows in June
Composite CPI continue to increase by 1.0% year-on-year.
Tender for industry sites in Yuen Long and Hung Shui Kiu cancelled
The government is taking a more pragmatic arrangements for the two industry sites.
Application for student hostel conversion begins
Streamlined application process and preferential area exemptions encourage stakeholders.
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Commentary
Driving non-Grade A office market with the Hostels in the City Scheme