News by tag: Asia


Real Estate: Hong Kong explores cavern to fix shortage problem

Space-strapped cities like New York and San Francisco may think they have it rough, but the booming Hong Kong may have an even more immediate problem. More than 7 million people live in the 427 square mile autonomous region of the People’s Republic of China. Country parks take up 41 percent of the land mass, all of which is dotted by steep hills, making it difficult to build anywhere. Many high rises have maxed out on height restrictions. Meanwhile, housing prices hit record highs this spring: Hong Kongers are paying nearly $1,500 per square foot. The average home costs $1.8 million.

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The most expensive bag in the world sold at auction

Fans of the iconic Hermès Birkin bags are beating the long waiting list by scoring the bags at auctions. The much sought-after Birkins have been continuously breaking auction records. A rare Hermès Birkin bag sold at auction early Wednesday morning at Christie’s in Hong Kong for a whopping $382,000. It’s set a record as the priciest handbag ever sold at auction. The collector, who won the bid by phone, is not from Asia.

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Hong Kong: former UBS banker jailed for bribes

A former associate director UBS Hong Kong was today sentenced to three-and-a-half years' imprisonment at the District Court for accepting bribes of about HK$1.46 million for managing the investment portfolio of a client with the bank. Tu Bing, 40, was earlier found guilty of bribery. 

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Hong Kong skyscraper sold for $5.2 bn record

Li Ka-shing's CK Asset Holdings confirmed Wednesday that it had sold his interest in The Center, the fifth-tallest building in Hong Kong, for $5.2 billion, setting a record for a Hong Kong office tower and showing that the city's commercial property market remains red hot. CK Asset Holdings said it expects to make a profit of $1.9 billion. The buyer is C.H.M.T. Peaceful Development Asia Property Limited, an investment vehicle registered in the British Virgin Islands that was created for the purchase.

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Billionaires are richer, Asia leads the way

The wealth held by the world's billionaires jumped by nearly $1 trillion in 2016, and they now have more money than the GDP of the entire European Union, according to a new report. The population of billionaires rose by 145, or about 10 percent in 2016, to 1,542 billionaires, according to the report by UBS and PwC. The wealth held by those billionaires increased from $5.1 trillion to $6 trillion, according to the report. And Asia now has the most billionaires in the world, surpassing the U.S. for the first time with a new billionaire minted on average every other day in 2016. 

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Grab raised $2 bln to fight Uber in Southeast Asia ride-hailing market

Grab, the ride-hailing company competing with Uber in Southeast Asia, has pulled in $2 billion of new financing from existing investors Didi Chuxing, the company that defeated Uber in China, and SoftBank. The latest round of funding comes from Japan's Softbank and China's top ride-hailing firm Didi Chuxing. Grab said Monday that it expects another $500 million will come from other existing and new investors. Its last announced cash injection was in September when it raised $750 million led by Softbank, whose chief executive Masayoshi Son is Japan's richest person and a self-styled tech visionary.

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Remain invested, favor Eurozone - Second part

- The economy continues to decelerate gradually to a more sustained speed of around 5% in the medium term. It is expected to slow in Q2 17, but also to transform itself toward more consumption and services - Beyond the growth objectives, the authorities are looking to curb financial excesses and to diversify in and outflows channels. State Owned Enterprises (SOE) restructuring remains the weak link of the current reforms

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Asia’s winning cities

Asia Pacific’s (APAC) population, at almost 3.5 billion, is twice that of Europe and the Americas combined. The tremendous speed of migration from rural to urban locations has led to the creation of many large, densely populated cities, such as Hong Kong and Singapore.

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Semptember 2015
  • 20

    Seize the opportunity to get up to date on the topics of secondary buyouts, the real estate bubble,

  • 15

    The aim of this forum is to offer an additional incentive for pension fund representatives to visit

  • 06

    The aim of this forum is to offer an additional incentive for pension fund representatives to visit

  • 04

    The attendance fee is CHF 250 and includes lunch, refreshments, and cocktails. University students a

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