French investors are warming to Hong Kong again, the city’s finance chief has said, citing a “marked difference” in local perceptions compared with his last visit to Paris two years ago. The shift is driven by Hong Kong’s strong market performance and an improved geopolitical situation, especially following US President Donald Trump’s recent visit to…
Indian Overseas Bank (Image only for representation) CHENNAI: The Hong Kong Monetary Authority has imposed a penalty of HK$8.5 million (Rs 9.3 crore) on Indian Overseas Bank, Hong Kong branch (IOBHK) for contraventions of anti-money laundering and counter-terrorist financing ordinance (AMLO). It has pulled up the lender for “significant failure” to mitigate risks.Apart from IOB,…
Hong Kong’s government is in a rush to bring its stablecoin legislation into force. On 21 May the legislature approved the new law, and days later the Hong Kong Monetary Authority (HKMA) launched a consultation regarding the detailed rules, which runs until the end of June. Today the government published an ordinance signalling plans for…