Macau’s licensed integrated resorts will emerge stronger with the closure of 11 satellite casinos in the city, as gambling activities are expected to shift to the casinos’ main properties and bolster their profit margins, according to analysts. The shares of the three casino operators affected by the move advanced after the closures were announced on…
Nearly three-quarters of Hong Kong millennials not only accept that their wealth managers will use artificial intelligence (AI) tools to construct and adjust their investment portfolios – they expect them to, according to research by EY. While people in the millennial generation – aged between 25 and 41 – had faith in AI, only 43…
HSBC UK has reportedly informed its retail banking staff that their annual bonuses could be reduced if they failed to meet in-office requirements, making it one of the latest major banks to tighten remote work policies. According to a report by The Independent, the company has sent a memo to its staff stating that those…
HSBC has taken legal action against the former father-in-law of slain Hong Kong model Abby Choi Tin-fung over outstanding mortgage payments on his subsidised flat, which could see the bank take possession of the home. The court summons for Kwong Kau came to light in the media on Wednesday, the latest development in the controversy…
Hong Kong’s leader has touted the city’s ambitions to sign a free-trade agreement with the Gulf Cooperation Council (GCC) and invited Kuwait to set up an office of its investment authority in the financial hub. Leading a 50-strong delegation of business leaders and entrepreneurs from Hong Kong and mainland China, Chief Executive John Lee Ka-chiu…
Hong Kong’s leader pledged to sign multiple deals to promote trade and investment as he commenced his first day of official visit to Kuwait on Tuesday. Leading a 50-strong delegation of business leaders and entrepreneurs from Hong Kong and mainland China, Chief Executive John Lee Ka-chiu said Kuwait held significant potential for enhanced cooperation with…
HSBC Group has received approval from the Insurance Authority (IA) to set up a captive insurance company, Wayfoong (Asia) Limited, in Hong Kong, which has become the first captive insurer established in the city by a multinational enterprise. A captive insurer is designed primarily to cope with the multifarious perils borne by large business corporations with…
A Hong Kong delegation making an official visit to Qatar has signed 35 memorandums of understanding (MOUs) and agreements to deepen cooperation between the two places, ranging from investment to innovation and technology, with city residents also given 30-day visa-free access to the Gulf nation. Wrapping up his two-day visit to the country in Doha,…
Hong Kong lawmakers on Thursday unanimously passed a motion calling for unity in countering US tariffs, with some calling on tycoon Li Ka-shing’s CK Hutchison Holdings not to go ahead with selling its Panama ports. The motion, put forward by lawmaker Ma Fung-kwok, urged authorities and the city’s industries to “resolutely dovetail with our country’s…
Standard Chartered’s first-quarter profit beat expectations, as the bank placed a greater focus on wealth management in the face of lower interest rates and rising bad debt provisions. Net profit rose 13 per cent in the first three months of 2025 to US$1.59 billion, or 62.7 US cents per share, from US$1.4 billion last year,…