News

BOC (Hong Kong) to beef up private banking business by at least 20%
21 Jun 18
Given enough available talent, the bank aims to double the number of its relationship managers.
Government caps import and export declaration charge at $200
21 Jun 18
The move can save as much as $458m annually.
Xiaomi lays down terms for blockbuster IPO
21 Jun 18
The smartphone maker is said to offer 2.18 billion shares at $17 to $22 apiece.
Hong Kong wide open to a financial crisis over the next three years
21 Jun 18
Worsening credit-to-GDP gaps are putting the city in danger territory.
Hong Kong medical inflation to hit 8.4% in 2018
20 Jun 18
Diagnostics for cancer-related illnesses are pushing costs up.
Xiaomi reportedly lowers valuation after delaying Mainland offering
20 Jun 18
The likely valuation of the smartphone maker is now between US$55b to US$70b.
Unemployment flat at 2.8% in March-May
20 Jun 18
This translates to 112,300 unemployed persons.
Mobile to snap third of internet ad revenues by 2022
19 Jun 18
The segment is expected to bring in US$285m in four years time.
Banks to hike prime rates by end-June
19 Jun 18
Tighter liquidity from mega IPOs will leave lenders with no other option.
HKIA passenger volume hits 6.04m in May
19 Jun 18
The number of visitors from Japan and the Mainland surged.
Xiaomi to postpone Mainland share offering
19 Jun 18
The company may be aiming to complete its Hong Kong listing first.
Mainland lender Jiangxi Bank eyes $7.79b Hong Kong IPO
18 Jun 18
Citic Guoan Group and Dianrong are cornerstone investors.
Government launches Green Bond Grant Scheme
18 Jun 18
It subsidises green bond issuers in obtaining certification.
Hong Kong is the second largest offshore wealth center
18 Jun 18
It trails behind Switzerland after managing US$1.1t in offshore wealth.
Cyberattacks could cost Hong Kong nearly $250b annually
18 Jun 18
Mobile payment apps are expected to be the next high-value target.
Mainland online lender Lufax guns for US$2b fresh funding amidst IPO delay
15 Jun 18
It was originally planning to debut at the first half of 2018.
US biotech firm seeking larger valuations rush to Hong Kong
15 Jun 18
Sorrento Therapeutics is one such firm hoping to cash in on the trend.
Manufacturing industrial production index up 1.1% in Q1
15 Jun 18
Output volume from food, beverages and tobacco industry rose 2.4%.
Swire Properties to reportedly sell Cityplaza Three and Four for $14b
15 Jun 18
The buyer is Hengli Investment Holding Group.
US tightening buoys banking profitability
14 Jun 18
Funding costs are expected to stay low, boosting NIMs.
Chinese medical tourists are exhausting local HPV cancer drug supply
14 Jun 18
An estimated 2m Chinese have come to Hong Kong to receive the shot in past two years.
A fifth of employees are unhappy with their jobs
14 Jun 18
About one in three believe that they are not well-trained for the digital economy.
Shun Tak snaps two Singapore prime properties for $3.49b
14 Jun 18
The aggressive bidding is expected to push property prices in Singapore's Orchard Road.
Civil service workers to enjoy pay rise for 2018-19
13 Jun 18
Employees in the upper band and directorate will enjoy 4.06% higher wages.
Hong Kong trails behind Singapore in asset management business
13 Jun 18
The city managed US$31.8b in private wealth compared to Singapore's US$53.4b.
Xiaomi hit by $8.58b loss in Q1 ahead of blockbuster IPO
13 Jun 18
However, Xiaomi is still on track as smartphone shipments ballooned 88%.
Chinese restaurant review and delivery firm Meituan Dianping to file for $6b IPO in June
13 Jun 18
It was recently valued at US$30b, making it the world’s fourth most valuable startup.
Residential and transport projects dominate construction output in Q1
12 Jun 18
They accounted for $17.9b and $12.8b respectively.
Home prices up 14.9% in Q1 as Hong Kong leads global property price growth
12 Jun 18
Demand for small to medium sized units continue to strengthen.
Finance sector leads quarterly business receipts growth in Q1
12 Jun 18
Business receipts rose by almost a third at 28.7%.
Banks wage war over fixed deposits as interbank lending rates surge
11 Jun 18
One-year HKD fixed-deposit rate is hiked to as high as 2%.
Bosses willing to hike salaries by 7.5% for top financial talent
11 Jun 18
Finance managers in the 95th percentile can enjoy as much as $720,000 yearly.
Government moves to reinvigorate film industry with land allocation
8 Jun 18
There will be a requirement to build cinemas in the Kai Tak and Sha Tin government land sales.
Hong Kong eyes $100b fund for green financing
8 Jun 18
The fund will be used to implement the Government Green Bond Programme.
Tourist arrivals up 11% to 5.3m in April
8 Jun 18
A continued recovery in Mainland tourism boosted monthly figures.
Digital revenues to hit US$5.8b in 2022 as consumers embrace mobile
7 Jun 18
The video games market is expected to be worth US$1b in four years time.
PMI plunges to 47.8 in May as orders dry up and costs mount
7 Jun 18
Companies turned to price discounts to offset sluggish sales.
Hong Kong's gender pay gap gets worse with age
7 Jun 18
Women in their 30s earn 11% less whilst those in their 50s earn 25% less than men.
Hong Kong trails behind Singapore in technological readiness
7 Jun 18
Poor R&D dragged the city to 10th place whilst Singapore snagged the crown.
Alibaba's Cainiao to invest US$1.53b in Hong Kong logistics center
7 Jun 18
Cainiao Smart Logistics Network will hold 51% stake in the joint venture.

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Sep 06
HKB International Business Awards 2018
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