News

Cyprus Climbs in 2018 Global Prosperity Index

Legatum Institute from the UK have released their 2018 global prosperity index and this year and ranked Cyprus in 28th place out of 150 other countries, climbing from 29th spot for last year in terms of overall prosperity, a general test for residents’ welfare and living standards.


Hong Kong Launch First Online Trading Platform Using Blockchain Technology

A new blockchain-based trade finance platform called eTradeConnect has been established by the Hong Kong Monetary Authority in order to improve trading efficiency and increase security when using e-bills online. The platform has been developed by an assembly of 12 major banks in a project that started last year after several test-periods were trialed.


WEF: See the Worlds Most Competitive Economies in 2018-2019

Last month, the valued non-profit organisation, the World Economic Forum (WEF) released its Global Competitiveness Report for 2018, ranking Hong Kong as the 7th most competitive economy globally, with the Asian hub losing its position of 6th place in 2017 out of 140 other countries worldwide.


Google to Tackle Controversial Chinese Search Engine-Market Again

The CEO of Google Mr Sundar Pichau has finally confirmed rumours about the tech giants involvement in a new Chinese search engine project; stating that the platform could potentially offer better information to people than the current market offering for the Asian nation.


Hong Kong Removed from EU Watch List for Tax Reporting

This month, the Special Administrative Region Government for Hong Kong has shown gratitude for being removed from EU to its watch list on tax co-operation following an amendment by the EC, recognising Hong Kong's endeavors to partake in the Multilateral Convention on Mutual Administrative Assistance in Taxation Matters.


Cobalt Air Unable to Recover Losses as Passengers are Stranded in Cyprus

The recently incorporated new national airline of Cyprus has failed to reach a deal with any European investors and has unfortunately had to ground all flights and has reportedly told all staff members to stay at home.


HKMA & Banks Reveal Blockchain Trade Finance Setup

The Hong Kong Monetary Authority alongside 7 banks, including Standard Chartered and HSBC will jointly launch a trade finance platform using blockchain Technology which underpins digital currencies like bitcoin, in September 2018.


1.4m Local Companies Are Registered In Hong Kong

In total, the number of local businesses registered reach 1,407,743 at the end of June. This is apparently 23,797 more than the end of 2017 according to the Companies Registry.


Details of the Fifth Anti-Money Laundering Directive

The European Parliament last week voted with a landslide of approvals regarding the final wording of the Fifth Anti-Money Laundering Directive, supporting the multilateral agreement reached between Member States' ministers in December last year.


Singapore Will Host the 2020 International Trademark Association

Singapore has been chosen to host the world's biggest trademark event in 2020, announced the INTA last week. The association's 142nd annual meeting will be held from April 25th to April 29th 2020 at the infamous Marina Bay Sands resort.