4 h. ago Standard Chartered sees affluent clients putting more money to work in Hong Kong

Wealthy people are increasingly drawn to structured products and diversified investments in light of market uncertainty, according to Standard Chartered Bank’s Eliza Law, who sees affluent clients putting more money to work in Hong Kong. “Our clients’ interest in investing has grown,” Law, managing director and head of affluent segment and distribution, wealth and retail banking at Standard Chartered Hong Kong, said in a briefing on Thursday. “They are keen to enhance their investment knowledge...

Economics

11 h. ago Hong Kong man scammed out of HK$4,900 trying to buy Blackpink tickets

A 25-year-old Hong Kong man was scammed out of HK$4,900 (US$624) when trying to buy two tickets for Blackpink’s pair of concerts in the city next year, as police received 200 reports related to online shopping scams in the past week. The victims in those cases were cheated out of HK$5.5 million in total, according to the force’s CyberDefender anti-scam Facebook page that posted an advisory on Saturday warning residents to be vigilant when making purchases online. Of the recent reports, 14 were...

Economics

16 h. ago Hong Kong teens held over swindling elderly woman out of HK$50,000 in phone scam

Hong Kong police have arrested a 16-year-old girl and an 18-year-old man on suspicion of swindling an 85-year-old woman out of HK$50,000 (US$6,369) by pretending to be her daughter and claiming to require bail money. The force said on Sunday the victim reported the incident on Friday. After receiving a call from someone who said she was her daughter and in police custody, the elderly woman followed instructions and handed over HK$50,000 in cash to a man at a prearranged location. She only...

Politics

17 h. ago Hong Kong puts construction of 8,300 homes on hold in Fanling

Hong Kong’s housing authorities have suspended a key public residential development in a northern town consisting of 8,300 homes due to the suspected high costs of building the flats on deep rock strata, according to a lawmaker. The suspension of the development, including its site formation and infrastructure works, in Fanling came to light on Sunday in a document the Housing Department and the Civil Engineering and Development Department submitted to the North District Council, a day before a...

Society

17 h. ago Future of 8,300 public flats in northern Hong Kong uncertain as work put on hold

Hong Kong’s housing authorities have suspended a 8,300 public flat development in a northern town due to the suspected high costs of building on deep rock strata, a move lawmakers said showed serious failure at the initial planning stage. The legislators urged authorities on Sunday to invest more resources in land exploration to avoid such unexpected disruptions to housing goals that would only leave the public disappointed. The suspension of the development, including its site formation and...

Politics

18 h. ago New stablecoin law to enhance Hong Kong’s financial appeal to global issuers: Chan

The expected increase in market demand for stablecoins will encourage licensed institutions overseas to issue such cryptocurrencies in Hong Kong, boosting competitiveness, according to the city’s financial chief as it prepares for its regulatory regime to take effect in August. In his weekly blog on Sunday, Financial Secretary Paul Chan Mo-po said that the city market value of stablecoins globally was estimated at around US$240 billion, with trading volume exceeding US$20 trillion last...

Politics

19 h. ago Is Indonesia ready to roll the dice on casinos at the risk of social costs?

The potential legalisation of gambling in Indonesia has resurfaced as a means for higher state revenue, but opponents argue the activity risks fraying the cultural fabric of the world’s largest Muslim-majority nation. Lawmaker Galih Kartasasmita floated the idea during a meeting with the finance ministry on May 8, where he said Indonesia should follow the footsteps of the United Arab Emirates, which legalised gambling last year. “The UAE is ready to run a casino, [an] Arab country [finally] runs...

Events

20 h. ago China’s Wang Yi decries ‘unacceptable’ Israeli attack on Iran, urges diplomacy

Chinese Foreign Minister Wang Yi called Israel’s attack on Iran an “unacceptable” breach of international law and urged measures to de-escalate tensions in phone calls with his Israeli and Iranian counterparts on Saturday. He told Israeli Foreign Minister Gideon Saar that China could play a “constructive role” in the peaceful resolution of the Iran nuclear issue, saying diplomatic solutions remained viable and a peaceful resolution was still achievable, according to China’s Ministry of Foreign...

Politics

20 h. ago Public shock as Taiwan actress reveals face pinned with needles from skin therapy

Taiwanese actress and singer Joe Chen Chiao-en has caused shock by revealing photos of herself after she underwent an all-over acupuncture treatment. The glaring images have sparked controversy on social media in mainland China. Known as the Queen of Idol Dramas, Chen, 46, first rose to fame in 2013 for her portrayal of Dongfang Bubai in the series Swordsman. She solidified her popularity with hit dramas such as Fated to Love You and The Prince Who Turns into a Frog. Her performance in Fated to...

Events

22 h. ago BRICS: Vietnam, Beijing's main ally against tariffs, also joins

BRICS: Vietnam, Beijing's main ally against tariffs, also joins  firstonline.info

Economics

24 h. ago The Hong Kong dads breaking tradition to build ‘unforgettable’ bonds with kids

Younger generations of Hong Kong dads are increasingly eager to engage more with their children, but often face challenges due to limited time and parenting skills, an NGO has said ahead of Father’s Day on Sunday. Allen Ha Wing-on, co-founder of the DADs Network, said that traditional expectations and busy schedules posed obstacles for local fathers. “Traditionally, not just in Asia, fathers are expected to provide financially, but are not necessarily very engaged relationally,” said the father...

Politics

25 h. ago Group tour prices from Hong Kong drop 10% as tourists opt for alternatives to Japan

Hong Kong travel agencies have launched cheaper outbound group tours this summer, driven by increased flight capacity amid a shift in tourists’ preference away from Japan due to increased earthquake concerns. Several tour operators have reported that prices for their summer group tours are either lower or have remained stable, adding that popular destinations include South Korea, Vietnam and cities in western mainland China. “Compared to last year, we see more than a 10 per cent drop in prices...

Politics

25 h. ago Meet Goku, the Chinese quant fund with AI ambitions beyond finance

Goku Technologies, a Shanghai-based quantitative trading fund, is expanding its ambitions beyond finance, looking to artificial intelligence (AI) as a means to overcome challenges faced by humanity, according to CEO Wang Xiao. In an interview with the Post, Wang said the firm’s AI initiatives were driven by a vision that transcended short-term commercial interests. “What I believe is [AI exists] to solve issues for humanity – this is the only thing that matters,” he said. Last month, Goku...

Politics

36 h. ago Should Hong Kong hit luxury homeowners with heavier fines for illegal works?

Hong Kong authorities should appeal against the “light” penalties imposed on two property owners for erecting illegal structures at their luxury Redhill Peninsula homes, experts have said, warning that the fines are not hefty enough to deter offenders. The specialists weighed in after the two property owners were told to pay more than HK$110,000 (US$14,015) in total after admitting to carrying out unauthorised building works. Their convictions are the first among 30 prosecutions made against...

Events

40 h. ago Political assassination shocks US ahead of Trump military parade set for Washington

A politically motivated assassination in Minnesota on Saturday sent shockwaves across the US just hours before the start of a major military parade in the nation’s capital. The killing of former state House Speaker Melissa Hortman and her husband, and the wounding of a second state lawmaker, took place in the early hours of a day that was expected to highlight America’s political divisions. The parade fulfills a long-standing desire of US President Donald Trump, echoing displays more typically...

Events

41 h. ago Hong Kong to explore need for new law covering building repairs by landlords

Hong Kong’s Urban Renewal Authority will examine whether legislation should be introduced requiring landlords to create periodic maintenance plans for their blocks and ensure sufficient funds for the work. The study would also cover the possibility of creating a new statutory body to supervise building restoration and maintenance, according to the authority’s retiring head, Wai Chi-sing. Wai stressed the importance of “preventive maintenance” by homeowners while also pledging the authority would...

Society

41 h. ago Hong Kong girl, 15, arrested over ‘space oil’ after dad alerts police

Hong Kong police have arrested a 15-year-old after her father reported she was smoking an e-cigarette containing “space oil” at home with her classmate, who is wanted by the force, the Post has learned. A source said on Saturday that the classmate, who was also 15, brought an e-cigarette, which she claimed contained the anaesthetic etomidate, to the girl’s home at Kwong Fuk Estate in Tai Po on Friday night and persuaded her they smoke it together. When the mother spotted them, the classmate...

Events

44 h. ago Hong Kong Instagram influencer pleads for release of father arrested in Cambodia

A Hong Kong-based Instagram influencer has written an open letter to Cambodia’s prime minister, calling for the immediate release of her father, who needs urgent medical care. Stephanie Cheng, also known as Laparasian on Instagram, posted a copy of the letter in English, French and Chinese on her social media early Saturday morning. In a separate post the previous day, the influencer said that her father, Cheng Chi-gian, a French citizen, had been “kidnapped in Phnom Penh just before exposing a...

Events

44 h. ago Hong Kong’s mediation centre open to developed nations, Western countries

Western and developed countries are welcome to use services offered by Hong Kong’s newly established global mediation centre, a senior official has said, dismissing concerns over the institute’s founding members being primarily developing nations. Deputy Secretary for Justice Horace Cheung Kwok-kwan on Saturday also addressed the possible direct competition with other dispute resolution hubs, including Singapore, outlining Hong Kong’s distinct advantages such as its “one country, two systems”...

Politics

46 h. ago Authorities still studying if Hong Kong collusion case needs to be handled by Beijing

Beijing and Hong Kong are investigating the complexity of a suspected collusion case to determine whether mainland China needs to take over, security minister has said, in what may become a precedent for the central government to exercise its jurisdiction over such matters. Secretary for Security Chris Tang Ping-keung said on Saturday that authorities were gathering information to ascertain if Article 55 of the national security law, which applies to complicated and severe cases, should be...

Events