Hong Kong’s Real Estate Titan Will Go Private
A consortium comprising Starwood Capital Group and Warburg Pincus is reportedly nearing an agreement to privatise ESR Group, a Hong Kong-listed real estate fund manager valued at over $7 billion. According to ESR, the consortium also includes the company’s founders and a subsidiary of the Qatar Investment Authority, a sovereign
Hong Kong Court To Sentence 47 Democratic Campaigners
In the latest development, the Hong Kong Court will sentence 45 democratic campaigners to heavy jail terms. In May, 14 of these 47 Democrats were found guilty of committing a conspiracy for subversion; only two were free from these criminal charges. Moreover, according to Reuters, 31 of them have pleaded
Hong Kong Lowers Interest Rates Following Fed Decision
In the latest turn of events, after Donald Trump’s victory in the US presidential election, the global financial market set its eyes on the Federal Reserve’s monetary policy, which was to be announced on 7th November, 2024. According to Reuters, the Fed cut interest by a quarter of a percentage.
Hong Kong Makes The First Rate Cut Since 2020
This was the first time the Hong Kong Monetary Authority (HMKA) reduced its base interest rates in the last four years after the Federal Reserve eased its monetary policy. Hong Kong’s interest rate fell by 50 basis points to 5.25% from the all-time high since 2007. HMKA Deputy Chief Executive
Hong Kong Loses Its Financial Businesses to Singapore!
Hong Kong continues to bear Beijing’s burden; it is losing financial business to Singapore amid growing financial challenges in China. Moreover, according to a report published by the Economist Intelligence Unit (EIU), ongoing economic turmoil in China will help Japan, India, and Singapore become new financial hubs in Asia. The
What Is a Three-Tier Banking System In Hong Kong?
“In the hands of the right people, banking can be a force for good, enabling progress and prosperity for all.” – Muhammad Yunus. The banking system of Hong Kong is a testament to these lines of the former MD of the Grameen Bank. Its three-tier banking system has made
Top Performers May Get 50% Higher Bonus: Morgan Stanley!
On Jan 22, one of the biggest investment banks in the world, Morgan Stanley, announced that it would be paying 50% higher payouts to its top-performing investment bankers. This makes it a rare occasion for investment banks to make their bonus payouts public. Moreover, Bloomberg mentioned that the senior investment
Top 10 Exporting Countries in Asia: Trillions in Trade
Asia, home to the fastest-growing economies in the world, also has some of the biggest exporting countries. Imports and exports are the backbone of every country’s economy. From the towering skyscrapers of Shanghai to the dynamic tech hubs of Bangalore and Seoul, Asia’s export economy is a story of relentless
Amicorp Group Pushes Back Against $7 Bn 1MDB Claims
One of the biggest corporate service providers, Amicorp, has broken its silence on a $7 Bn fraud allegation against it. According to Reuters, the company was accused of knowingly executing the fraudulent transactions worth $7 Billion from the Malaysian state fund 1Malaysia Development Berhad. In the recent statement, Amicorp
Macau: From Casino Crown to China’s New Frontier
Macau, the gambling capital of the world, is now facing new political challenges from China. China’s President Xi Jinping recently visited the territory to mark its anniversary. In his speech, he mentioned “return to the motherland,” indicating that the territory would operate less independently. Moreover, according to the New York