London and Hong Kong set to ignore EU money-laundering rules

The UK government has made it plain that it will not charge the EU financial transactions tax on deals done in London. Photo: Reuters

The European Union proposed a tax on financial transactions that could be collected worldwide as soon as next year by the 11 countries that have so far signed up to participate. To escape the proposed tax entirely, firms in other countries would have to cease financial services business with the 11 countries involved.

Sunday, 17 February, 2013, 1:59am 1 comment

Facile criticism of financial body

Executive Councillor Laura Cha meet the media after the first meeting of Hong Kong's new Financial Services Development Council. Photo: David Wong

I refer to Jake van der Kamp's column ("Five points to ponder … over dinner in a fine restaurant", January 27) and various media reports about the Financial Services Development Council of which I am a member.

3 Feb 2013 - 6:50am

Government says it is down to its last US$217

Finance Minster Tendai Biti. Photo: AFP

The paltry amount cast doubt over claims of a slow economic recovery and raised fresh questions about the fate of the country's diamond revenues - officials say almost US$685 million worth were sold last year.

31 Jan 2013 - 4:39am

Seven English Premier League clubs make Deloitte rich list

Real Madrid have become the first club in any sport to generate more than €500 million (HK$5.2 billion) in revenue in a single year.

Real Madrid have become the first club in any sport to generate more than €500 million (HK$5.2 billion) in revenue in a single year, according to the business advisory firm Deloitte.

The company's Football Money League, published for the 16th time yesterday, sees Spanish champions Madrid retain their hold on first place ahead of perennial rivals Barcelona.

25 Jan 2013 - 5:00am

Ask the Foodie: Brian Goldberg

Brian Goldberg founded Mr Bing, a restaurant in Central that makes Beijing-style crêpes. Photo: Jonathan Wong

Brian Goldberg's story is that of a potential medical student who gave up his chosen field when he realised his heart just wasn't in it.

24 Jan 2013 - 9:08am

The Week Explained: Media reporting

Are you getting all of this?

Do you find investment reporting in the media confusing? I do, even though I've been doing it for too long. So here are some tips to make sense of what you see and read.

7 Jan 2013 - 4:31am

Financial studies teach students the value of money

Investing in students' financial education can reap rewards.

When he was in Form Three, Samuel Weil, one of my outstanding IB biology students, advised me to buy Apple stock. Had I listened, I would have made a 400 per cent profit today.

6 Jan 2013 - 2:47pm

Monday Face: Michael Diekmann

Allianz chairman Michael Diekmann says he learned valuable lessons running the group's businesses in Asia, the US and Europe. Photo: EPA

As chairman of German financial giant Allianz, Michael Diekmann is constantly on the go around the world, keeping up with the company's 142,000 employees and 78 million customers in 70 countries.

17 Dec 2012 - 5:30am

Mafia extortion or double standard?

Standard Chartered will pay a fine of US$330 million for breaching US sanctions against Iran. Photo: Reuters

The American extortion of Standard Chartered is nearly over. The British bank is ready to pay off, sorry I mean settle with, the rest of the US mafia crew otherwise known as federal regulators, with a fine of US$330 million for breaching US sanctions against Iran.

7 Dec 2012 - 4:14am 5 comments

Bank of East Asia share sell to Sumitomo Mitsui eases unrest

Bank of East Asia's share sale has removed some uncertainty about capital. Photo: Bloomberg

Bank of East Asia (BEA) shares rose yesterday as a share sale to Japan's Sumitomo Mitsui Banking cleared uncertainty over a capital shortage and fuelled speculation about a takeover.

6 Dec 2012 - 3:16am

London pushes ahead with yuan ambitions

A slower yuan appreciation is healthy because now it is better priced by the market, says Mark Boleat of the City of London.

A slower yuan appreciation might dampen investors' interest in the currency but would not affect London's ambitious plans to develop itself as a leading offshore yuan centre.

3 Dec 2012 - 4:26am

Go with the cash flow

Go with the cash flow

Income funds predominate in a risk-averse, yield-seeking era. Jeanny Yu examines how such funds are built.

20 Nov 2012 - 4:30pm

In safe hands

Dr Peter Brooks, Barclays

What do you get when you go to a private bank? Liana Cafolla discovers a combination of bespoke answers.

19 Nov 2012 - 1:27am

Retire with fire

David de Lacy Staunton, managing director at Capstone Financial. Photo: Edward Wong

How much do you really need for your pension? Liana Cafolla outlines some base-case scenarios.

19 Nov 2012 - 1:27am

'Time ripe' for China firms to go private

Some mainland firms have been disappointed by Wall Street.

The depressed valuations at which some Chinese companies are trading on stock markets in the United States may prompt their controlling shareholders to take the companies private, a top China banker says.

29 Oct 2012 - 5:08am