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30 Mar Green innovation: Hong Kong start-ups nurture trillions of tiny algae as carbon-capture tech to address climate change

Posted at 02:00h in Asia

Most plant life on the planet does the same thing, producing oxygen and energy for its own use in the process. But microalgae have a prodigious capacity for carbon dioxide relative to their mass, which is why Alcarbo – and many competitors – are racing...

21 Mar Transition finance seen as a crucial tool in the fight against climate change in Asia

Posted at 23:30h in Asia

There is a US$4 trillion funding gap compared with the US$5 trillion annual investment the world needs to make by 2030 to reach the Paris Agreement’s ambition to contain global warming at 1.5 degrees Celsius by achieving net zero carbon emissions by 2050, the International...

21 Mar HSBC leaves prime lending and deposit rates unchanged as borrowers eye interest relief later this year

Posted at 04:21h in Asia

Hong Kong’s biggest lender HSBC announced it will keep its lending and deposit rates unchanged in line with the city’s monetary authority, meaning businesses and mortgage borrowers will have to wait until at least later this year for interest relief as the economy struggles to...

20 Mar Hong Kong holds base rate steady at 5.75% after Fed’s unanimous vote to keep watching for signs of falling US inflation

Posted at 23:04h in Asia

The HKMA has followed the Fed’s rate decision in lockstep since 1983 by design under its linked exchange rate system to preserve the local currency peg’s to the US dollar. The HKMA has held its base rate at current level after raising it 11 times...

18 Mar EMPF Platform: Hong Kong to migrate smallest pension firms first, with giants like HSBC to bring up the rear by end-2025, regulator says

Posted at 10:40h in Asia

YF Life Trustees, the smallest of Hong Kong’s Mandatory Provident Fund (MPF) providers, will be the first to migrate to the soon-to-be-launched eMPF Platform, while HSBC, the largest provider, will be the last, according to a detailed timeline announced by the pensions regulator on Monday.The...

13 Mar Standard Chartered CEO contender Cooper to leave in overhaul as UK bank changes top Greater China jobs

Posted at 03:45h in Asia

A frontrunner to replace Standard Chartered Chief Executive Officer Bill Winters is set to depart as the emerging markets lender pushes through a broader management reshuffle to boost returns.Simon Cooper, who has led the firm’s corporate, commercial and institutional banking division for eight years, will...

07 Mar Wealthy clients turn to HSBC, Manulife, Bank of China amid heightened interest in Hong Kong’s cash-for-residency scheme

Posted at 00:30h in Asia

The scheme has garnered considerable interest, with the department receiving applications on the first day, said Alpha Lau, the director general of InvestHK, who did not reveal the exact number.InvestHK has seen considerable interest in the new CIES scheme. Photo: Eugene Lee“It shows that high-net-worth...

26 Feb Greater Bay Area: HSBC, Standard Chartered increase Wealth Management Connect products amid drive to promote cross-border investment

Posted at 07:59h in Asia

Launched in 2021, the mechanism allows residents of Hong Kong, Macau and nine cities in Guangdong province to invest directly in designated wealth management products across borders.New rules took effect on February 26 raising the individual investment quota from 1 million yuan (US$138,923) to 3...

23 Feb Standard Chartered 2023 profit jumps 18%, beating market estimates

Posted at 04:56h in Asia

Standard Chartered, one of Hong Kong’s three currency-issuing banks, reported an 18 per cent jump in profit, beating street estimates due to higher interest margins, while impairment charges on account of its exposure to the China property market weighed.The emerging-markets focused lender made a net...

19 Feb GBA@5: HSBC, Bank of East Asia among Hong Kong lenders cranking up Qianhai presence with eye on growth opportunities

Posted at 00:30h in Asia

“HSBC has been actively participating in Qianhai’s financial pilot schemes since the beginning, and we were one of the first banks to participate in yuan cross-border lending and the Wealth Management Connect scheme,” Chan told the Post. The scheme, tailor-made for the bay area, allows...

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