The UK accounting regulator has launched an investigation into Deloitte over its auditing of Glencore, following a corruption scandal at the FTSE 100 mining and commodities trading group. The Financial Reporting Council (FRC) said on Wednesday it was probing whether Deloitte “gave sufficient consideration to the risk of noncompliance with laws and regulations” when it…
The main talking point for Hui, the Secretary for Financial Services and the Treasury, has been a new law, enacted in May, that sought to make it easier for overseas companies to reincorporate in the city. Just a few days after the law came into force, Hui flew to Canada to meet senior executives from…
A slew of mainland-listed Chinese technology companies are speeding up fundraising plans in Hong Kong to capitalise on the upbeat market sentiment. Hong Kong’s equity market has been buoyed by mainland investors’ record buying of HK$731.2 billion (US$93.1 billion) of stocks in the first half of the year, according to Hong Kong Exchanges and Clearing…
The US bank said it expected Hong Kong’s benchmark to climb to 26,000 in the first half of 2026, assuming geopolitical tensions eased and policy support remained steady. “China faces deflationary pressures rather than inflation, so even if imported energy costs rise, the pass-through effect on corporate earnings is expected to be minimal,” said Pierre…
In the second instalment of a three-part series on financial decoupling between China and the US, experts tell the Post how pressure on US-listed companies from the mainland could be a windfall for Hong Kong’s markets. Read the first part here. A month ago, Patrick Tsang, the CEO of Deloitte China, learned that the US…
The city wants to be an international sporting hub, and now has the stadium to fulfil part of that dream, but one swallow does not a summer make and we’ve been thinking about what else we’d like to see happen. Call it a wish list, call it a money-no-object fantasy, but if you don’t dream…
Wealth management and family offices will be a major growth engine for Hong Kong, as many prominent clans in Asia have shown an interest in setting up entities to manage their fortunes, according to Deloitte’s regional head. Dennis Chow Chi-in, Asia-Pacific chairman of the accounting and consulting firm, believes this will mainly be down to…
The 2024 Family Business Summit (FBS) concluded in Hong Kong as the principal members of more than 100 wealthy families exchanged views on a broad range of topics with distinguished speakers from different fields. The second day of the by-invitation event kicked off with a discussion about opportunities in the Association of Southeast Asian Nations…
Hong Kong’s investment promotion agency has launched a charm offensive tour to Europe, with the aim of attracting high-net-worth individuals to set up family offices in the city. A top InvestHK official, Charles Ng Siong-kwong, set off on Sunday and will visit various major European cities over the coming week, including London, Milan, Lugano and…
The Hong Kong government is teaming with media company Bloomberg to stage a series of events for family offices, the latest move in the push to promote the city as a hub for such investment vehicles. The Financial Services and the Treasury Bureau and other government agencies will work with Bloomberg to put on events…