Indonesia's National Economic Council Chairman, 78, expresses desire to relocate assets to Bali citing the unending Middle East conflict, amidst Indonesia's economic crisis.
The Hong Kong Stock Exchange (HKEX) is in early discussions to extend its trading hours, potentially to 5pm or 8pm, according to two sources. The move aims to enhance market competitiveness, though scrapping the lunch break is not being considered.
Hong Kong must develop its Northern Metropolis into a 'science and education city' to align with China's national strategy and maintain competitiveness. This initiative integrates technology, education, and research through the San Tin Technopole, university town, and Hetao Innovation Cooperation Zone.
Hong Kong has launched a trial operation of its gold clearing and settlement system, aiming to establish the city as a trading hub and price-setter for the precious metal. The announcement was made by Chief Executive John Lee Ka-chiu.
Hong Kong is proactively working to strengthen its position as a leading international financial centre, with HKEX reviewing feedback on new measures. The city is also developing its commodities ecosystem, using gold as a strategic entry point, with plans for expanded storage, refinery capacity, and reactivating a US dollar gold futures contract.
Hong Kong aims to launch an 'IPO Connect' program, building on the existing Stock Connect, to enhance market liquidity and provide international investors with greater access to top-tier China assets, as discussed at the Lujiazui Forum.
Uzbekistan's President Shavkat Mirziyoyev announced plans for a new international financial centre operating under English common law principles, offering extensive tax incentives for 50 years. The initiative aims to attract foreign investment by creating a familiar regulatory environment. The country has attracted over $150bn in foreign investment recently, with its economy growing by 7.7% last year.
Uzbekistan announced plans for a new international financial centre and six investment priorities at the Tashkent International Investment Forum. The centre will operate under English common law with significant tax incentives for 50 years. The country has attracted over $150 billion in foreign investment recently.
Global oil prices dropped and stock markets surged as optimism grew for a US-Iran peace deal, potentially reopening the Strait of Hormuz and ending a major energy supply crisis. Brent crude fell below $84/barrel, while European and Asian markets rallied.
Global oil prices dropped significantly as optimism grew for a US-Iran peace deal, potentially reopening the Strait of Hormuz and restoring Gulf oil exports. Brent crude fell below $84 a barrel, reaching its lowest since early March.
The Astana International Financial Centre (AIFC) and Hong Kong's bourse are exploring dual-listing opportunities with Kazakh mining firms. AIFC Governor Renat Bekturov stated that agreements signed during John Lee's visit are a key step for cooperation, aiming to boost investment and market access.
New York City ranks first globally for financial services talent, excelling in labor index and VC funding. However, the industry's center of gravity is shifting east, with Asia-Pacific cities like Shanghai, Beijing, and Hong Kong showing significant growth.
Hong Kong has surpassed Switzerland as the world's leading offshore financial center, a significant milestone reflecting a shift in global wealth creation towards mainland China. This development challenges narratives of Hong Kong's decline.
Hong Kong Financial Secretary Paul Chan Mo-po recently said the city could rise to become the world’s No 2 financial centre in 10-15 years. That is the right kind of ambition. In a world being reshaped by geopolitical fragmentation, China’s growing global weight and rapid technological change, Hong Kong must think beyond remaining internationally competitive to exercising global leadership. But ambition alone is not enough. Hong Kong has spent decades proving it can operate at the world’s...
The US-Israeli war on Iran has triggered market volatility and driven investors toward safe-haven assets, with Hong Kong positioning itself as a stable financial hub. Banks are expanding their presence in the city while global investors increase inquiries about mainland Chinese assets. Dubai's prominence as an Asia-Europe financial gateway has been dented by the conflict, which forced closure of Dubai International Airport and sent Gulf stocks plunging. Experts say China and Hong Kong are attracting renewed attention as investors reassess relative value and long-term strategic opportunity.
