Post Tagged with: "Banking & Finance"

China?s Zijin Mining to raise US$1.2 billion through share issue to fund takeover of Nevsun Resources

China?s Zijin Mining to raise US$1.2 billion through share issue to fund takeover of Nevsun Resources

Zijin Mining Group, China?s largest gold miner, said it plans to issue 8 billion yuan (US$1.16 billion) worth of shares in Shanghai to finance the purchase of a Canadian mining company, the biggest overseas acquisition since the company went public in Hong Kong in 2003. The miner said in a […]

China?s P2P lending crisis worsens as second firm runs into trouble in a week

China?s P2P lending crisis worsens as second firm runs into trouble in a week

Mainland China?s peer-to-peer (P2P) lending crisis showed no signs of abating after another big platform said it would not be able to repay investors 860 million yuan (US$125.4 million) when the debts expire this weekend. Xinhehui, a Hangzhou-based P2P operator which has conducted online lending businesses worth more than 210 […]

Japan outpaces China in race for outbound mergers as trade war, capital controls weigh on deal flow

Japan outpaces China in race for outbound mergers as trade war, capital controls weigh on deal flow

Driven by a massive tie-up between Takeda Pharmaceutical and the Irish drug maker Shire in May, outbound mergers and acquisitions from Japan outpaced China for the first time in five years in 2018, according to financial services data provider Dealogic. Japanese companies accounted for 649 deals worth US$184.2 billion last […]

Hong Kong brokers brace for hard times in 2019, urge regulators to speed up access to Greater Bay Area

Hong Kong brokers brace for hard times in 2019, urge regulators to speed up access to Greater Bay Area

Hong Kong?s smaller brokerages have lobbied local regulators to introduce measures that would allow them to broaden their ?market to the 70 million residents in the ?Greater Bay Area?. Christopher Cheung Wah-fung, a lawmaker representing the financial services sector, said such measures were needed to help smaller companies survive. ?The […]

DBS Vickers to transfer Hong Kong retail brokerage clients to sister bank

DBS Vickers to transfer Hong Kong retail brokerage clients to sister bank

For more than four decades, the Vickers name has been associated with retail investing in Hong Kong. On Monday, that time will pass. The change comes after DBS Group, the Singapore financial services company, announced earlier this year that it would merge the retail brokerage operations of its DBS Vickers […]

The tenuous truce in the US-China trade war will decide whether Hong Kong?s best IPO party ever continues in the new year

The tenuous truce in the US-China trade war will decide whether Hong Kong?s best IPO party ever continues in the new year

On July 12, the Hong Kong stock exchange (HKEX) conducted an unprecedented ritual to start its trading day: four gigantic gongs were struck one after the other by executives of eight companies to commemorate the debut of their stocks. The eight companies, including Chinese live-streaming application Inke, had to share […]

JPMorgan fined by Hong Kong watchdog over money laundering controls

JPMorgan fined by Hong Kong watchdog over money laundering controls

Hong Kong Monetary Authority has fined the local unit of JPMorgan Chase HK$12.5 million (US$1.6 million) for failing to meet anti-money laundering and counter-terrorist financing laws. JPMorgan Hong Kong violated six provisions of the rules between April 2012 and February 2014, the HKMA said in a statement on Friday. The […]

Shares of world?s biggest oil refiner, Sinopec, plunge after suspension of two top executives in trading unit

Shares of world?s biggest oil refiner, Sinopec, plunge after suspension of two top executives in trading unit

Shares of China Petroleum & Chemical (Sinopec), the world?s largest oil refiner, tumbled sharply on Thursday after the sudden suspension of two senior executives in its trading unit which incurred heavy losses. The nation?s second biggest integrated oil and gas company said it has suspended general manager Chen Bo and […]

As ?Big Four? move into legal sector, Hong Kong firms left to ponder independence, fair competition

As ?Big Four? move into legal sector, Hong Kong firms left to ponder independence, fair competition

Inroads into Hong Kong?s legal sector by EY, PwC, KPMG and Deloitte, the ?Big Four? international accounting and audit firms, are raising questions about the future of rules governing the ownership of law firms in the special administrative region. Legal services in Hong Kong are organised as independent companies that […]

Hong Kong-listed wine firm Madison eyes cryptocurrency trading, to buy US$30 million stake in Japanese platform

Hong Kong-listed wine firm Madison eyes cryptocurrency trading, to buy US$30 million stake in Japanese platform

Madison Holdings Group, which is listed on the GEM board of the Hong Kong stock exchange, and is otherwise best known for trading in fine French wine, plans to buy a stake in BitOcean, a Japanese cryptocurrency trading platform. In a filing to the secondary board of the Hong Kong […]