Highlighting Hong Kong’s proximity to mainland China, Amy Lo, Country Head & CEO of UBS Hong Kong, pointed out that “connectivity with China” is very important to the industry’s development.
Residential approvals have hit a record 235,000 over the year, driven by the 73,000 permits issued for high-rise apartments.
Latest GDP data shows Brazil’s economy improving after a dismal first quarter, while India’s economy slowed. However, both face brighter futures. Craig Botham, Emerging Markets Economist, comments:
The result is that UnionPay, along with issuing banks and acquiring banks, is hemorrhaging income from merchant fees.
Vulnerabilities are rising on a dangerous trajectory and buffers, while still adequate, are eroding.