Hong Kong

Global Blue Releases the Monthly Tax Free Shopping Business Update for November 2023

Retrieved on: 
Thursday, December 7, 2023
Mobile, Wireless, Technology, Other Retail, Other Technology, Professional Services, Data Management, Supply Chain Management, Retail, Online Retail, Other Professional Services, NYSE, Global Blue, Gulf Cooperation Council, Acceleration, Tax-free shopping, Travel, Hong Kong

New data from Global Blue (NYSE:GB) reveals that the global dynamic recovery for Tax Free Shopping has remained stable across Continental Europe, with a continued acceleration in Asia Pacific.

Key Points: 
  • New data from Global Blue (NYSE:GB) reveals that the global dynamic recovery for Tax Free Shopping has remained stable across Continental Europe, with a continued acceleration in Asia Pacific.
  • Globally, issued Sales in Store like-for-like recovery reached 127%1 in November versus 123%1 in October and Q3 ’23.
  • This solid performance is mainly due to an increase in Gulf Cooperation Council and Mainland Chinese shopper activity.
  • Excluding Mainland Chinese and Russian shoppers, the recovery in November would have reached 150%1 vs. 154%1 in October and 157%1 in Q3 ‘23.

Accenture Nominates Dr. Martin Brudermüller, Chief Executive Officer and Chairman of the Board of Executive Directors of BASF SE, to Join its Board of Directors

Retrieved on: 
Wednesday, December 6, 2023
Software, Networks, Data Analytics, Consulting, Artificial Intelligence, Professional Services, Technology, Business, NYSE, Chemistry, Audit committee, Security (finance), ETR, BASF SE, Mercedes-Benz Group, BASF, University, Chief technology officer, BAS, SE, Management, Hong Kong, Accenture

Accenture (NYSE: ACN) announced that its Board of Directors has nominated Dr. Martin Brudermüller for election to the Board at Accenture’s annual general meeting of shareholders on January 31, 2024.

Key Points: 
  • Accenture (NYSE: ACN) announced that its Board of Directors has nominated Dr. Martin Brudermüller for election to the Board at Accenture’s annual general meeting of shareholders on January 31, 2024.
  • Dr. Brudermüller, 62, is Chief Executive Officer and Chairman of the Board of Executive Directors of BASF SE (ETR: BAS).
  • Together with our other nominees, the Board would comprise 11 directors, 10 of whom will be external and independent.
  • Dr. Brudermüller has been Chief Executive Officer and Chairman of the Board of Executive Directors of BASF SE since 2018.

SEBA Bank rebrands to AMINA Bank and continues to write its success story

Retrieved on: 
Friday, December 1, 2023
Finance, Cryptocurrency, Banking, Professional Services, Fintech, FINMA, Growth, History, SEBA, Tutoring, Hong Kong

SEBA Bank AG , a fully licensed Swiss crypto bank, announced today its new brand identity: AMINA Bank AG.

Key Points: 
  • SEBA Bank AG , a fully licensed Swiss crypto bank, announced today its new brand identity: AMINA Bank AG.
  • SEBA Bank made history in 2019 by becoming one of the first FINMA-regulated institutions to provide crypto banking services.
  • This rebrand marks a new chapter for the company, which has proudly been in operation for more than four years.
  • AMINA Bank is inspired by the same trailblazing ambition to lead the way for its clients and to write its own future as a Swiss-regulated crypto bank offering services to its traditional and crypto savvy clients around the globe.

Golub Capital Continues APAC Expansion with Hong Kong Hire

Retrieved on: 
Thursday, November 30, 2023
Banking, Asset Management, Professional Services, Finance, Cerberus, Senior, Head, PJT Partners, Capital, Cerberus Capital Management, Growth, Golub Capital, Film industry, Renewable energy, Greater China, Hong Kong

Golub Capital today announced that Amy Chiang has joined as Managing Director, Greater China and Southeast Asia and will be based in the Firm’s newly-opened Hong Kong office.

Key Points: 
  • Golub Capital today announced that Amy Chiang has joined as Managing Director, Greater China and Southeast Asia and will be based in the Firm’s newly-opened Hong Kong office.
  • In her new role, she will be dedicated to building and strengthening relationships with investors in the Greater China and Southeast Asia region.
  • “We are excited to continue building our presence and commitment to investors in the APAC region,” said Craig Benton, Senior Managing Director, Head of the Investor Partners Group at Golub Capital.
  • “I look forward to expanding Golub Capital’s market leading private credit strategies to the growing capital base in Greater China and Southeast Asia; complementing our existing investor base in developed markets to deliver resilient returns across market cycles,” said Amy Chiang, Managing Director, Greater China and Southeast Asia at Golub Capital.

Merck KGaA, Darmstadt, Germany Strengthens Oncology Portfolio Through Commercialization Agreement With Abbisko for Phase III Asset, Pimicotinib

Retrieved on: 
Monday, December 4, 2023
Science, Other Science, Biotechnology, Research, Pharmaceutical, Oncology, Health, Clinical Trials, Medicine, Independent Review Committee, Safety, Therapy, RECIST, Disease, Stiffness, Patient, TGCT, Joint, Merck, Tenosynovial giant cell tumor, Partnership, Pain, Swelling, Health care, Merck Group, Pharmaceutical industry, Hong Kong

The agreement grants Merck KGaA, Darmstadt, Germany a license to commercialize pimicotinib in mainland China, Hong Kong, Macau and Taiwan, with an option for rest of world.

Key Points: 
  • The agreement grants Merck KGaA, Darmstadt, Germany a license to commercialize pimicotinib in mainland China, Hong Kong, Macau and Taiwan, with an option for rest of world.
  • In addition, Merck KGaA, Darmstadt, Germany has the option to co-develop pimicotinib in additional indications under certain conditions.
  • Merck KGaA, Darmstadt, Germany will provide Abbisko with an upfront payment of $70 million and upon exercising the option, will provide Abbisko an option fee.
  • Abbisko will receive additional payments for the achievement of certain regulatory and commercial milestones, as well as double-digit tiered royalties on net sales by Merck KGaA, Darmstadt, Germany.

Merck Strengthens Oncology Portfolio Through Commercialization Agreement With Abbisko for Phase III Asset, Pimicotinib

Retrieved on: 
Monday, December 4, 2023
Biotechnology, Health, Pharmaceutical, Clinical Trials, Oncology, Medicine, Independent Review Committee, Safety, Therapy, RECIST, Disease, Stiffness, Patient, TGCT, Science, Joint, Tenosynovial giant cell tumor, Partnership, Pain, Swelling, Health care, Pharmaceutical industry, Merck, Hong Kong

The agreement grants Merck a license to commercialize pimicotinib in mainland China, Hong Kong, Macau and Taiwan, with an option for rest of world.

Key Points: 
  • The agreement grants Merck a license to commercialize pimicotinib in mainland China, Hong Kong, Macau and Taiwan, with an option for rest of world.
  • The ongoing randomized, double-blind, placebo-controlled Phase III MANEUVER trial is evaluating the efficacy and safety of pimicotinib 50 mg QD in patients with unresectable TGCT.
  • Merck will provide Abbisko with an upfront payment of $70 million and upon exercising the option, will provide Abbisko an option fee.
  • Abbisko will receive additional payments for the achievement of certain regulatory and commercial milestones as well as double-digit tiered royalties on net sales by Merck.

KKR to Acquire Remaining 37% of Global Atlantic for $2.7 Billion in All-Cash Transaction

Retrieved on: 
Wednesday, November 29, 2023
Professional Services, Other Professional Services, Data Analytics, Insurance, Finance, Asset Management, Consulting, Webcast, NYSE, Risk management, Jardine Strategic Holdings, Bae, Investment, Simpson Thacher & Bartlett, KKR, Optimism, Multimedia, Culture, DeBevoise, Partnership, Barclays, Total, EST, Growth, Martha Plimpton, Airline, Bank, Hong Kong

KKR & Co. Inc. (NYSE: KKR) and Global Atlantic Financial Group LLC (“Global Atlantic” or “GA”) today announced a definitive agreement under which KKR will acquire the remaining 37% stake of leading insurance company Global Atlantic, increasing KKR’s ownership to 100%.

Key Points: 
  • KKR & Co. Inc. (NYSE: KKR) and Global Atlantic Financial Group LLC (“Global Atlantic” or “GA”) today announced a definitive agreement under which KKR will acquire the remaining 37% stake of leading insurance company Global Atlantic, increasing KKR’s ownership to 100%.
  • Global Atlantic’s assets under management have grown significantly, up from $72 billion in 2020 to $158 billion today.
  • Global Atlantic management is expected to exchange a majority of its Global Atlantic equity interests for KKR equity.
  • KKR also announced a series of other Strategic Initiatives that are contingent on the closing of the Global Atlantic transaction.

AM Best Withdraws Credit Ratings of Blue Cross (Asia-Pacific) Insurance Limited

Retrieved on: 
Wednesday, November 29, 2023
Insurance, Professional Services, Risk management, Blue Cross, Credit, AIA Group, AM Best, Communication, AIA, News, ALL, Bank, Hong Kong

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of Blue Cross (Asia-Pacific) Insurance Limited (Blue Cross or the company) (Hong Kong).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of Blue Cross (Asia-Pacific) Insurance Limited (Blue Cross or the company) (Hong Kong).
  • It also incorporates the rating enhancement that Blue Cross receives from its ultimate parent, AIA Group Limited (AIA).
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings .
  • For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .

SEKO Logistics Announces Akhil Nair as Senior Vice President, Global Ocean Freight

Retrieved on: 
Wednesday, November 29, 2023
Supply Chain Management, Trucking, Retail, Maritime, Transport, Logistics, Senior, Multimedia, Operational excellence, Retirement, SVP, FMS, CEVA Logistics, Management, SEKO, Hong Kong

SEKO Logistics (SEKO) , the leader in end-to-end global logistics, today announced the promotion of Akhil Nair as Senior Vice President, Global Ocean Freight & Global Operational Excellence upon the retirement of Alfred Hofmann, formerly Senior Vice President, Global Ocean Freight.

Key Points: 
  • SEKO Logistics (SEKO) , the leader in end-to-end global logistics, today announced the promotion of Akhil Nair as Senior Vice President, Global Ocean Freight & Global Operational Excellence upon the retirement of Alfred Hofmann, formerly Senior Vice President, Global Ocean Freight.
  • View the full release here: https://www.businesswire.com/news/home/20231129192124/en/
    SEKO Logistics appoints Akhil Nair to SVP, Global Ocean Freight.
  • In this expanded role, he will lead SEKO’s global ocean freight team, providing guidance on business goals and implementation plans, maintaining relationships with SEKO’s network of global ocean carriers and will have P&L operating authority.
  • “He’s exemplified strong expertise in ocean transportation, customer service and global growth strategies, and we’re very much looking forward to having him on the global leadership team.”
    Prior to SEKO, Nair served as Vice President, Global Product Development, Global Freight Management & Global Ocean Procurement, Asia Pacific for CEVA Logistics.

CSOP: Pioneering Cross-Border Opportunities in HK, Bridging China and Saudi Arabia’s Capital Markets

Retrieved on: 
Wednesday, November 29, 2023
Fintech, Asset Management, Professional Services, Finance, ETF, SFC, HKEX, Securities and Futures Commission, Security (finance), HKD, HSBC, The Honourable, Telecommunications, CSOP, Multimedia, Investment, HKSAR, Ecosystem, RMB, USD, Public Investment Fund, Vision 2030, Growth, HK, China Southern Asset Management, HSBC (Hong Kong), Arms industry, Cryptocurrency, Hong Kong

View the full release here: https://www.businesswire.com/news/home/20231128587608/en/

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20231128587608/en/
    CSOP Saudi Arabia ETF (HKD counter: 2830, RMB counter: 82830) (Graphic: Business Wire)
    PIF is the investment engine driving economic growth in Saudi Arabia and the world.
  • A global, long-term, impactful investor and catalyst of change, PIF plays a critical role in unlocking opportunities to accelerate economic growth.
  • Today, we are bringing Saudi Arabia’s wealth of investment opportunities to the doorstep of investors in Asia.
  • This will unlock unprecedented opportunities between the key capital markets hub of Hong Kong and the Saudi equity market, one of the most attractive destinations for capital inflows in the world today.