Barclays, which has an underweight position on the stock, downgraded its price target on the company to HK$87.50 ($11.25) from HK$92.16, warning that the shares could be vulnerable to heavier losses in the coming months. This represents a downside of abou
Sun Hung Kai Properties co-chairmen Thomas and Raymond Kwok, two of Asia’s wealthiest men, were among five people charged with eight offences, an official statement said.
The Finance Ministry stated that it had been agreed to make it easier for the tax authorities in each country to request and obtain financial information, allowing for the disclosure of information on bank accounts believed to be operated by those of the
The bilateral treaty between India and Switzerland, the Double Taxation Avoidance Agreement (DTAA), provides the framework within which Indian authorities can seek administrative assistance against tax evasion or fraud.
This practice, which started last year, exaggerates the size and stability of banks' liquidity and masks any stresses on the country's financial system at a time when the world's second-biggest economy is expanding at the weakest pace since
In the note sent to employees on Tuesday, the London-based lender's chief executive Stuart Gulliver said the Permanent Subcommittee on Investigations would expose weaknesses in the bank's money laundering controls.
That assurance was given by Laura Cha Shih May-lung, formerly with the China Securities Regulatory Commission, who was appointed by Chief Executive Leung Chun-ying to chair the preparatory work on the council.
Home Affairs and Justice Minister Jason Clare said while the five-year, $113 million figure was alarming, the real toll was likely to be much higher as many victims were often too embarrassed to go to authorities.
Financial services minister Tadahiro Matsushita on Wednesday instructed an advisory panel of scholars and experts to review current regulations and propose new rules, including penalising those who pass on insider information.
The banks, which are classified under the government’s Qualifying Full Banks Programme, will be evaluated based on their market share of domestic deposits.