Standard Chartered, one of Hong Kong’s three note-issuing banks, will invest US$1.5 billion in its wealth-management business over the next five years as robust growth in serving affluent clients drove the lender’s profit 19 per cent higher in 2024. Hong Kong would be one of the focus areas for the investment, CEO Bill Winters said […]
The government has proposed that Hong Kong residents eligible for a HK$2 (25 US cents) public transport concessionary fare scheme be limited to using it 240 times per month or eight times a day on average, sources have said. Users of the scheme could also be required to cover 20 per cent of the usual […]
Chinese automaker SAIC Motor said on Friday it would partner with tech company Huawei to develop new “globally competitive” smart electric vehicles. The tie-up sees yet another state-owned automaker betting on partnerships with Huawei, which has risen to prominence as a supplier of smart driving technologies, to boost EV sales. The deal signed on Friday […]
The Securities and Exchange Commission (SEC) has approved the first interest-bearing stablecoin registered as a security in the United States. Figure Markets’ YLDS stablecoin, pegged to the U.S. dollar, offers a 3.85% yield and operates under SEC oversight. Unlike major stablecoins such as Tether (USDT) and USD Coin (USDC), which generate interest from reserves but […]
While tariffs would mean a hit to the economy, RioCan Real Estate Investment Trust says its lease portfolio should be resilient to the effects. The lack of new retail construction and its high occupancy rates means RioCan has been able to be more selective and screen potential tenants for financial health, said chief executive Jonathan […]
BNP Paribas SA, Banco Santander SA and Barclays Plc stand out as the best among banks in terms of their current and forecast financed CO2 emissions, according to analysts at Bloomberg Intelligence. Financed emissions are a measurement of greenhouse gases associated with a bank’s investments and lending activities to some of the most carbon-intensive industries. […]
According to an industry report released by Research and Markets on February 13, Vietnam’s data centre market witnessed some new entrants such as Epsilon Telecommunication (KT Corporation), Gaw Capital, and Infracrowd Capital in 2024. These additions are expected to increase competitiveness in the market and lead to increasing revenue generation for contractors and infrastructure vendors. The Vietnamese […]
Bank of Japan Governor Kazuo Ueda said he held a regular meeting with Prime Minister Shigeru Ishiba to exchange views on the economy and financial markets ahead of a Group of 20 meeting next week. This was the first meeting for the pair since October when Ishiba had just begun his time in office. Ueda […]
The Nova Scotia government has introduced a $17.6-billion budget that includes major tax cuts and a reserve fund to be used if the U.S. president makes good on his threat to impose tariffs. Finance Minister John Lohr brought forward a budget Tuesday forecasting a deficit of $697.5 million for the 2025–26 fiscal year — a […]
The Hong Kong Monetary Authority (HKMA) has made it incumbent on banks to conduct a mandatory name-matching process on customers for real-time fund transfers, the latest step by the city’s financial regulator to tackle scams. Financial institutions have been urged to adopt “refined measures” on their instant fund transfer systems such as the Faster Payment […]