20 March 2018


  • Venezuela's President Nicolas Maduro is hoping cryptocurrencies will help Venezuela skirt US financial sanctions as it struggles under hyperinflation and a collapsing socialist economy. Photo: AFP

    US bans transactions with Venezuela’s digital currency

    Mar 20, 2018 9:47am
    US President Donald Trump signed an executive order barring any US-based financial transactions involving Venezuela’s new petro cryptocurrency, as US officials warned that it was a “scam” by President Nicolas Maduro’s government to further undermine democracy in...
  • Hong Kong tycoon Li Ka-shing waves goodbye after announcing his retirement at a news conference on Friday. Photo: Reuters

    Li Ka-shing announces retirement, will stay on as senior adviser

    Mar 16, 2018 6:03pm
    Li Ka-shing, Hong Kong’s richest man, on Friday announced that he will step down as chairman of his business empire later this year but stay on as a senior adviser. He will be succeeded by his eldest...
  • Agricultural Bank of China plans to raise up to 100 billion yuan (US$15.85 billion) in the biggest-ever A-share private placement. Photo: Reuters

    China initiates multiple moves to boost banking system

    - Mar 15, 2018 12:46pm
    A number of events took place in the banking sector recently, and they all seem to be closely connected. First is the merger of the China Banking Regulatory Commission (CBRC) and China Insurance Regulatory Commission (CIRC),...
  • Institutional investors now represent a much bigger share of the stock market, and market liquidity is often ample, further reducing the possibility of spotting underpriced counters. Photo: Reuters

    How to apply value investing in today’s market

    - Mar 15, 2018 10:35am
    Hang Seng Index currently has a price-earnings ratio of 12.5 times. That’s way cheaper than S&P’s ratio of 18 times and Nasdaq’s 20 times. Should investors simply go for the cheaper stocks? Benjamin Graham, the father...
  • Google is the latest internet company to clamp down on the cryptocurrency sector amid growing concerns about scams. Photo: Bloomberg

    Google bans cryptocurrency advertising

    Mar 15, 2018 9:22am
    Alphabet Inc.’s Google is banning advertisements for cryptocurrencies and initial coin offerings, making it the latest internet company to clamp down on the sector amid growing concerns about scams, Reuters reports. Google’s action, which takes effect...
  • Polarizing new models of competition and resistance to trade are not the way to restore trust. Instead, we need to reassert control over the financial sector, to ensure that it is serving the economy, not vice versa. Photo: Bloomberg

    The next phase of finance

    - Mar 14, 2018 10:35am
    The decade since the global financial crisis has been tumultuous, to say the least. True, no great war has erupted, and we have more or less avoided the mistakes of the Great Depression, which led in...
  • The Hong Kong Stock Exchange, which is working hard to attract new-economy firms, is going to face increasing competition from its mainland counterparts. Photo: Reuters

    Mainland exchanges posing increasing threat to HK bourse

    - Mar 14, 2018 10:02am
    In a bid to attract quality firms to list in China, the authorities have been pulling all the stops. Last week, a major subsidiary of leading contract manufacturer Foxconn secured regulatory approval for a Shanghai listing....
  • The customers received refunds in yen at a rate of 88.549 yen per NEM, which is higher than the current market rate but lower than the 110 yen value at the time of the hacking. Photo: Bloomberg

    Coincheck spends US$435 mln to compensate customers after hack

    Mar 14, 2018 9:32am
    Coincheck Inc., a Tokyo-based cryptocurrency exchange, said it has spent 46.3 billion yen (US$435 million) to compensate customers affected by the hacking of its trading platform in January, the Wall Street Journal reports. It said it has...
  • Regulators have raised the alarm over bitcoin and other cryptocurrencies, saying they may aid money laundering and terrorist financing, hurt consumers and undermine trust in the global financial system. Photo: Bloomberg

    G20 financial heads to urge crypto-asset monitoring

    Mar 14, 2018 8:53am
    The world’s financial leaders will call for stronger monitoring of crypto-assets amid concerns that such assets could threaten financial stability. The call appears in a draft communique prepared for the meeting of finance ministers and central bank...
  • Europe-based digital bank Tandem, founded by Ricky Knox (right), and N26, co-founded by Maximilian Tayenthal (left), enable customers to manage their bank accounts through smartphones, with more robust online service offerings. Photos: HKEJ

    As HK gears up for virtual banks, experts tout the benefits

    - Mar 12, 2018 3:56pm
    As part of initiatives to take Hong Kong into a new era of smart banking, the Hong Kong Monetary Authority (HKMA) last month issued an update on a guideline related to authorization of virtual banks, a...
  • Hong Kong is well equipped to cope with potential asset market volatilities and fund outflows, HKMA chief has reiterated, Photo: Reuters

    Why recent weakening of HKD is not a huge concern

    - Mar 12, 2018 9:37am
    Despite the recent fund outflows and softness of the Hong Kong dollar, the Hong Kong Monetary Authority (HKMA), the city’s de facto central bank, appears to be pretty relaxed about the situation. Using “Stay calm on...
  • Andrea Enria, head of the European Banking Authority, wants to ensure that fintech firms and similar services are regulated in a consistent way across the region. Photo: Reuters

    EU banking watchdog sets out ‘roadmap’ to regulate fintech

    Mar 12, 2018 9:28am
    The European Union’s banking watchdog is proposing a “roadmap” on how to regulate the rapidly evolving financial technology sector, but urged caution in tackling cryptocurrencies, Reuters reports. New EU rules from January make it easier for...
  • People's Bank of China governor Zhou Xiaochuan said China does not "currently recognize bitcoin and other digital currencies as a tool like paper money, coins and credit cards for retail payments". Photo: Bloomberg

    PBOC governor says bitcoin not a legitimate method of payment

    Mar 12, 2018 8:59am
    China does not recognize bitcoin and other digital currencies as legitimate forms of payment, the central bank governor said. “We do not currently recognize bitcoin and other digital currencies as a tool like paper money, coins...
  • In cryptocurrency trading as well as trail running, the start is full of hope and optimism. Photo: Reuters

    10 things amateur cryptocurrency trading and trail running share

    - Mar 9, 2018 3:41pm
    I recently participated in TransLantau100, a race of more than 100 kilometers across Lantau Island, starting at 11:30 p.m. on Friday and ending for me at 3:30 a.m. on Sunday. Throughout the 28 hours of hiking,...
  • HKMA chief executive Norman Chan said the de facto central bank will not intervene until the currency peg touches the floor of its trading band. Photo: HKEJ

    HK dollar weakens to fresh 33-year low

    Mar 9, 2018 12:50pm
    The Hong Kong dollar extended its slide to a fresh 33-year trough on Friday, a day after the city’s de facto central bank said it may not intervene until the currency peg touches the floor of...
  • Travis Kalanick said the fund will invest in real estate, e-commerce and emerging innovation in China and India. Photo: Bloomberg

    Former Uber CEO Kalanick to set up investment fund

    Mar 8, 2018 9:23am
    Travis Kalanick, the former Uber chief executive, announced in a Twitter post that he is going to start an investment fund called 10100, Reuters reports. The new fund, pronounced “ten-one-hundred”, will invest in real estate, e-commerce...
  • Royal Bank of Scotland will pay US$100 million in cash to New York state and provide US$400 million of relief to homeowners and communities, including funds to build affordable housing. Photo: Bloomberg

    RBS settles NY mortgage securities claims for US$500 million

    Mar 7, 2018 8:53am
    Royal Bank of Scotland Group Plc has reached a US$500 million settlement with New York state to resolve charges it misled investors by selling risky mortgage securities that contributed to the 2008 global financial crisis. The...
  • E-payment service providers in Hong Kong are stepping up efforts to break into the taxi market. Photo: Bloomberg

    Can mobile payment take off in Hong Kong taxis?

    - Mar 6, 2018 2:45pm
    With the mobile payment battle heating up in Hong Kong, the taxi market has come under renewed focus with almost all key players seeking to tap into the largely unoccupied segment.  The e-payment systems operators are,...
  • Hong Kong saw a net inflow of over 340 billion yuan from the Stock Connect channel last year. Photo: China Daily

    HK equities: Near-term turbulence won’t alter long-term uptrend

    - Mar 6, 2018 11:33am
    It’s estimated that around US$83.8 billion of capital flowed into emerging markets last year. That has ended the net capital outflow from these markets in the previous four years. The Hong Kong market was one of...
  • The XL Group acquisition will help AXA become the No.1 player in commercial insurance, says AXA CEO Thomas Buberl. Photo: Reuters

    AXA to acquire insurer XL Group in US$15.3 bln deal

    Mar 6, 2018 9:49am
    France’s AXA has agreed to buy Bermuda-based XL Group for US$15.3 billion, in a deal that would create one of the world’s biggest property and casualty insurers.  AXA, Europe’s second-biggest insurer in terms of market capitalization,...

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