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Hong Kong issues four more virtual bank licenses to spur innovation and disrupt bricks-and-mortar financial services

Hong Kong’s monetary authority has issued four virtual banking licenses to applicants affiliated with a trio of China’s largest technology companies as well as the city’s stock exchange, in a move to speed up disruption and innovation in one of the world’s best financially served urban centres.The four new licenses go to Ping An Insurance’s subsidiary Ping An OneConnect, Ant Financial Services’ unit Ant SME Services, a Xiaomi-AMTD Group venture called Insight Fintech HK Limited, and the… Source link

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Vietnam 

Cần Thơ licenses $14m seafood processing plant – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Chairman of the Cần Thơ People’s Committee Võ Thành Thống (left) hands over the investment licence. – Photo baodautu.vn Viet Nam News HÀ NỘI — A Việt Nam and Japan joint-venture is planning to develop a seafood processing plant worth US$14 million in the southern city of Cần Thơ’s Trà Nóc 1 Industrial Zone. The joint-venture between the city-based Viet Foods Co and the Marine Foods Corporation of Japan received an investment licence from the municipal People’s Committee Chairman Võ Thành Thống last week during his trip to…

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Macau extends gambling licenses for SJM and MGM China until 2022 to synchronise expiry date of all six casino concessions

Macau’s government has extended the gambling licenses of SJM Holdings and MGM China Holdings by two years, putting them on equal footing with four other casino concessionaires that operate in the world’s largest gaming hub.The concessions of SJM and MGM China will expire on June 26, 2022, the same as Sands China, Wynn Macau, Galaxy Entertainment Group and Melco Resorts & Entertainment Limited. SJM and MGM China will have to pay 200 million patacas (US$24.7 million) each for the extension.The… Source link

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Vietnam 

Đà Nẵng licenses $419m in new projects; $2.6b proposed – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

An entrance to an industrial Zone in Đà Nẵng. The city has granted investment licences to seven projects and proposals to 15 more. — VNS Photo Công Thành Viet Nam News ĐÀ NẴNG — The central city’s People’s Committee said it had granted licences to seven foreign direct investment projects worth US$419.4 million, and agreed investment research for 15 other projects worth an estimated $2.6 billion. The city said the projects included three automobile production and accessories projects from Malaysia, Russia and Taiwan, and two tourism property projects…

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Vietnam 

Bà Rịa – Vũng Tàu licenses, approves 9 investment projects – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY – The southern province of Bà Rịa – Vùng Tàu on Thursday issued licences to seven projects and greenlighted two others with the nine having a total investment of over VNĐ12.5 trillion (US$548 million). They include some large projects like an LNG plant to be put up by PVGAZPROM NGV at a cost of nearly $13 million and a capacity of 20 million cubic metres a day. The Đá Bạc 4 Solar Power Plant by Đông Á Châu Đức Joint Stock Company…

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China is poised to grant more majority-owned licenses to Wall Street banks in the next six months, regulator says

A top Chinese regulator said more approvals will be given in the next six months to global banks seeking majority ownership in their local securities ventures, as authorities vowed to allow foreign firms greater access to its US$40 trillion financial sector. “We do have a few companies in the process of applying for 51 per cent,” Fang Xinghai, vice-chairman of the China Securities Regulatory Commission, said Thursday in a Bloomberg Television interview at the World Economic Forum in Davos, Switzerland. “In the next six months you will see more licenses…

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Vietnam 

Hải Dương licenses two foreign projects – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Leaders of Hải Dương Province grant an investment licence to representatives from the Hong Kong-invested Leo Paper Bags Manufacturing (1982) Limited. – VNA/VNS Photo Viet Nam News HẢI DUƠNG — The northern province of Hải Duơng on Wednesday granted licences to two new foreign-invested projects, worth more than US$48 million. The first – financed by the Hong Kong-invested Leo Paper Bags Manufacturing (1982) Limited – will focus on producing paper bags and cards. The $40 million plant covers 8ha in the Cẩm Điền-Lương Điền Industrial Zone in Cẩm…

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Vietnam 

Hưng Yên revokes licenses from 14 delayed projects – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Hưng Yên Province will revoke licenses of delayed projects in accordance with the law on investment. — Photo baohungyen.vn Viet Nam News HÀ NỘI — The northern province of Hưng Yên’s Department of Planning and Investment has asked the provincial People’s Committee to revoke the investment licences from 14 projects due to excessive delays. All 14 projects were granted investment certificates from 2008 to 2014, but have failed to be put into operation. One of the major projects on the list is the Secoin – CDT industrial…

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