• Sun
  • Sep 21, 2014
  • Updated: 7:08am

Banking

See the 'Barbarian Suppressing and Pacifying General'

There is a new attraction on the Central waterfront. No, it's not another shopping mall, bar or restaurant. We are referring to the Hong Kong Maritime Museum, which opened at its new location at Central's Pier 8 last month, after six years at Murray House in Stanley.

Tuesday, 26 March, 2013, 5:39am

Who will rescue Cypriot banks - the EU or Russia?

What started off as a botched rescue of the banking system in Cyprus has morphed into geopolitical brinkmanship between Russia and the European Union. It now looks like a fight over who will bail out the oligarchs and other rich depositors from Russia who put their money in high-interest-paying offshore accounts in Cypriot banks, which face collapse.

22 Mar 2013 - 4:00am

Money laundering a serious problem

The money laundering offence provision was enacted by the legislature some time ago in 1995, and since then it has been the subject of extensive judicial scrutiny.

21 Mar 2013 - 2:50am 3 comments

Return of the shareholder

Credit Suisse Group chief executive Brady Dougan said pay for bankers was still outpacing shareholder returns, a dynamic that would change once the bank completed an overhaul of its business model.

21 Mar 2013 - 5:20am

Former head of Iceland's failed Kaupthing bank faces conspiracy trial

Icelandic banker Sigurdur "Siggi" Einarsson, who ran Kaupthing bank until its collapse five years ago, is among nine former senior staff who have been charged in Reykjavik with orchestrating five large-scale market manipulation conspiracies.

21 Mar 2013 - 3:00am

Insurers feel the pain of anti-laundering law

Insurers have complained that the anti-money laundering law introduced a year ago puts too big a burden on their shoulders. Some of the conditions should be changed or removed because they had gone too far and made life tough for insurers, said insurance sector legislator Chan Kin-por.

18 Mar 2013 - 4:44am

Are Chinese banks really prepared for launch in Hong Kong?

It's no secret in Hong Kong's financial community that mainland banks have become the major job creators in the city, rescuing many laid-off bankers, mostly from Western banks.

Now it seems more job opportunities will appear at mainland banks and securities firms as they are set to open branches and offices in Hong Kong this year, thanks to Beijing's latest policy thrust.

18 Mar 2013 - 9:03am

Standard Chartered keen to grow branch numbers on mainland China

Peter Sands, the chief executive of the British bank, said the mainland would be one of the drivers for the group in the coming years.

14 Mar 2013 - 7:47am

Conviction endangers respect for the law

Take note of what this ridiculous law actually says. It is a crime to handle money in a way that looks to others as if you are laundering it, whether or not you are actually doing so and whoever these others may be.

14 Mar 2013 - 6:41am 10 comments

HSBC's Gulliver becomes poster boy for Brobdingnagian bonuses

HSBC just announced disappointing results for 2012, a year full of bad news for the global bank founded in Hong Kong and Shanghai. Despite bad results, chief executive Stuart Gulliver still secured a bonus of £1.95 million (HK$22.7 million) for last year. His total compensation came to HK$109 million, including the release of deferred bonuses from previous years. For comparison, Gulliver's total compensation in 2011 was HK$82 million.

14 Mar 2013 - 2:34pm 1 comment