2 h. ago HSBC to grow investment bank to serve rising demand for IPOs

HSBC will expand its investment banking business to serve the rising demand of companies from Asia and the Middle East for initial public offerings (IPOs), said the co-CEOs of the bank’s biggest profit centre. The plan aligns with the bank’s restructuring to focus on high-return areas like Hong Kong and India, as well as exit low-profitability markets like Europe and the US. Hong Kong sits atop the world’s IPO league table, after 27 companies raised US$9.96 billion this year as of last week,...

Economics

68 h. ago China Renaissance’s investment in stablecoin issuer Circle pays off

China Renaissance, which has funded many leading Chinese technology firms, made another winning bet after shares of stablecoin issuer Circle Internet Group more than doubled on their debut in New York. The Chinese investment bank said in a filing to the Hong Kong stock exchange on Friday that it had invested in Circle, which was founded in 2013, in 2018 through its Huaxing New Economy Fund. The investment reflected its “strong confidence in the growth prospects of the digital asset industry”,...

Economics

3 d. ago After CATL’s spark, China’s EV players bank on Hong Kong IPOs for growth funds

More than a dozen smart mobility companies from mainland China are making a beeline to raise funds in Hong Kong, capitalising on the growing appetite among global investors for the country’s unpolished industrial gems. The prospective initial public offerings (IPOs) from electric vehicle (EV) assemblers like Chery Automobile and Seres Group to autonomous driving technology providers such as Pony.ai are expected to enhance China’s leading automotive technologies on the global stage, bankers and...

Economics

3 d. ago Second man arrested in connection with Hong Kong knifepoint bank hold

A transport worker who turned himself in to police has been arrested on suspicion of receiving some of the HK$380,000 (US$48,717) in cash snatched during an armed bank robbery in Hong Kong, the Post has learned. The worker, 47, surrendered to police on Wednesday, two days after a Hang Seng Bank branch at the Fortune City One shopping centre in Sha Tin was robbed by a man armed with a 30cm knife. The main suspect, 49, allegedly passed HK$100,000 of the stolen cash to the transport worker after...

Events

4 d. ago Hongkongers wonder why suspect in knifepoint robbery held up bank near home

A man suspected of robbing a Hong Kong bank with a knife and injuring a staff member could be charged as soon as Wednesday night, the Post has learned, with his move to hold up the establishment located in his neighbourhood sparking a heated online discussion. The jobless man, 49, was handed over to Hong Kong police on Tuesday after he was detained in Shenzhen for allegedly robbing a branch of Hang Seng Bank in Sha Tin the day before. His girlfriend, 34, was also arrested on suspicion of aiding...

Events

4 d. ago Hongkongers wonder why knifepoint robbery suspect allegedly chose bank near home

A man suspected of robbing a Hong Kong bank with a knife and injuring a staff member could be charged as soon as Wednesday night, the Post has learned, with the establishment’s proximity to his neighbourhood sparking a heated online discussion. The jobless man, 49, was handed over to Hong Kong police on Tuesday after he was detained in Shenzhen for allegedly robbing a branch of Hang Seng Bank in Sha Tin the day before. His girlfriend, 34, was also arrested on suspicion of aiding his escape after...

Events

4 d. ago Hong Kong bank robbery suspect’s ‘illogical’ target sparks online debate

A man suspected of robbing a Hong Kong bank with a knife and injuring a staff member could be charged as soon as Wednesday night, the Post has learned, with the establishment’s proximity to his neighbourhood sparking a heated online discussion. The jobless man, 49, was handed over to Hong Kong police on Tuesday after he was detained in Shenzhen for allegedly robbing a branch of Hang Seng Bank in Sha Tin the day before. His girlfriend, 34, was also arrested on suspicion of aiding his escape after...

Events

5 d. ago Suspect in Hong Kong bank robbery believed to have fled to mainland China

An armed robber, who triggered a manhunt after he held a woman at knifepoint and stole HK$370,000 (US$47,180) from a Hang Seng Bank branch, is a Hongkonger and has fled across the border, the Post has learned. A source said on Tuesday that police’s elite tactical unit, the Flying Tiger, was searching for the local man, who was wearing a surgical mask and cap when he robbed the bank at Fortune City One shopping centre on Ngan Shing Street in Sha Tin the previous day. The force identified the man...

Events

5 d. ago Suspect in Hong Kong bank robbery ‘has fled to mainland China’

A robber who triggered a manhunt after he held a woman at knifepoint and stole HK$370,000 (US$47,180) from a Hang Seng Bank branch is a Hongkonger and has fled to mainland China, the Post has learned. A source said on Tuesday that police’s elite tactical unit, the Flying Tigers, was searching for the local man, who was wearing a mask and cap when he robbed the bank at the Fortune City One shopping centre on Ngan Shing Street in Sha Tin the previous day. The force identified the man shortly after...

Events

5 d. ago Suspect in Hong Kong knifepoint bank robbery ‘has fled to mainland China’

A robber who triggered a manhunt after he held a woman at knifepoint and stole HK$370,000 (US$47,180) from a Hang Seng Bank branch is a Hongkonger and has fled to mainland China, the Post has learned. A source said on Tuesday that police’s elite tactical unit, the Flying Tigers, was searching for the local man, who was wearing a mask and cap when he robbed the bank at the Fortune City One shopping centre on Ngan Shing Street in Sha Tin the previous day. The force identified the man shortly after...

Events

5 d. ago Suspect in Hong Kong knifepoint bank robbery arrested after fleeing over border

A man suspected to have robbed a Hong Kong bank with a knife and injured a female employee before making off with HK$370,000 (US$47,180) has been arrested in mainland China and is expected to be handed over to city authorities, the Post had learned. A source said the suspect was detained on the mainland and would be handed over to Hong Kong police at a land checkpoint in Shenzhen on Tuesday or Wednesday. The 49-year-old reportedly fled to his home in City One, a private estate in Sha Tin, after...

Events

6 d. ago Criminal on the run after stealing HK$120,000 from Hong Kong bank

Hong Kong police have launched a manhunt for a criminal who stole about HK$120,000 (US$15,300) from a Hang Seng Bank branch at knifepoint after injuring a staff member. The force said on Monday that the robbery took place at around 5pm at Fortune City One shopping centre on Ngan Shing Street in Sha Tin. The case was reported to police by a bank employee who said a man threatened staff members with a knife before making off with about HK$120,000 in cash. The force said a female bank employee in...

Events

6 d. ago BTG Pactual eyes Hong Kong expansion as China and Brazil strengthen ties

Brazilian investment bank BTG Pactual is seeking to expand its operations in Asia, eyeing opportunities arising from the growing demand for data centres among Chinese artificial intelligence (AI) firms, as Beijing and Brasília strengthen their trade and investment ties amid tariff disputes with the US. Established in 1983, BTG is one of Brazil’s largest banks, with a presence across Latin America, the US, Europe and the Middle East. During an interview with the Post in Hong Kong on Saturday, BTG...

Politics

6 d. ago BTG Pactual eyes Hong Kong growth as China, Brazil strengthen ties

Brazilian investment bank BTG Pactual is seeking to expand its operations in Asia, eyeing opportunities arising from the growing demand for data centres among Chinese artificial intelligence (AI) firms, as Beijing and Brasília strengthen their trade and investment ties amid tariff disputes with the US. Established in 1983, BTG is one of Brazil’s largest banks, with a presence across Latin America, the US, Europe and the Middle East. During an interview with the Post in Hong Kong on Saturday, BTG...

Politics

9 d. ago Hong Kong regains favour with investors, companies: Deutsche Bank

Hong Kong’s corporate activity and yuan-driven business have been revitalised as global market participants strengthen ties to China’s economy amid tariffs and geopolitical tensions, according to a senior executive at Deutsche Bank. Companies and investors have increased their exposure to China and hedged against the US dollar as they adjusted their supply chains and portfolios amid market volatility, said Ole Matthiessen, head of corporate banking for Asia-Pacific, Middle East and Africa,...

Economics

3 w. ago Bank in Hong Kong investigates unauthorised transactions on payment system FPS

China Construction Bank (Asia) client says she lost HK$20,000 through FPS transfers, with experts suggesting hacking may be involved.

Economics

3 w. ago Mainland bank in Hong Kong investigates unauthorised transactions on FPS platform

China Construction Bank (Asia) client says she lost HK$20,000 through FPS transfers, with experts suggesting hacking may be involved.

Economics

3 w. ago HSBC’s Hong Kong unit Hang Seng Bank lays off staff as part of sweeping revamp

Some departments lose up to 20 per cent of their staff, while the hardest-hit team is cut in half, sources say.

Politics