Expat Hong Kong News
Latest 10 news items tagged Hong Kong
6 Dec at 6 PM 2013
Having moved in 2013 from 31st place last year to 30th, Singapore is still well down from the leader, Caracas, and price rises in the city state have slowed in recent months.
The results of ECA International’s latest Cost of Living survey also revealed that Singapore had slipped in the regional ranking from 8th to 9th, placing it behind Hong Kong
for the first time in three years. ECA’s surveys are regarded as accurate due to the company’s position as providers of information and knowledge to businesses with employees on overseas...
22 Nov at 6 PM 2013
Wealthy residents as well as expats working in Hong Kong
are backing off from banks and financial advisors in favour of internet sites dealing with investment and finance.
The city’s investment market recently suffered a severe blow due to new, stricter rules applying to FAs and banks, with regulators putting the brakes on high-risk investments such as insurance-wrapped funds. A survey by Friends Provident, an Isle of Man insurance company whose Hong Kong
office actually facilitates this type of fund, revealed that only 26 per cent...
11 Nov at 6 PM 2013
Filipino expats and US/UK citizens with friends and relatives living in the typhoon-devastated areas are struggling without news as the communications blackout continues.
The devastating storm, one of the strongest the modern world has seen, laid waste to popular beachside areas in Cebu as well as other more remote ecotourism destination islands popular with visitors. The worst-hit was the Visayas archipelago, home to a number of beach communities popular with retirees.
The Filipino community worldwide is taking part in prayer...
14 Oct at 6 PM 2013
Continuing reports of investment mis-selling in many expat world destinations is forcing not only action by government regulators but also by financial advisory firms themselves in seeking legal registration with local financial authorities.
Recent media reports have identified countries as far apart as Hong Kong
, the UAE, Spain, the UK and several Southeast Asian states including Thailand as being hotbeds of unqualified, unregistered salesmen persuading unsophisticated expat investors to take on unsuitable funds, bonds and property...
2 Oct at 6 PM 2013
Britons living overseas are fighting shy of investment opportunities in th8ier country of origin, preferring to invest their money in their countries of residence.
Domestic stock markets in a number of popular expat destinations are being favoured over and above the FTSE by almost a third of British investors living overseas, according to a new study. A Lloyds Bank International survey found that Britons in the USA, Germany and Canada had more confidence in the outlook for the local economy than in that for the UK and are betting on...
26 Sep at 6 PM 2013
A recent survey indicates that expats working in the United Arab Emirates spend more on luxury lifestyles than their counterparts in Hong Kong
The survey, commissioned by Standard Life, compared the average spend of expats working in Singapore, Hong Kong
and the emirates, and found that Western expats in the UAE were more profligate and less interested in saving or investing than those in Asian hubs. Over 97 per cent of UAE expat workers admitted to splurging their spare cash on a luxury lifestyle.
2 Sep at 6 PM 2013
In spite of repeated warnings by the UK’s Financial Conduct Agency, bogus financial advisors peddling dodgy investments, illegal pension unlocking schemes and online scams are still trading happily.
The warnings are listed on the FCA’s website which, it seems, is rarely visited by prospective investors who have already had contact with the scammers via cold calling or online advertisements. Although the FCA has regulatory powers in the UK, it’s far harder to deal with offshore fraudsters who clone respected financial websites and...
31 Jul at 6 PM 2013
A combination of low tax rates, higher salaries, great weather and an exotic environment is encouraging expat workers in Singapore and other similar countries to spend, not save.
The survey, undertaken by Standard Life, found that disposable incomes in Australia, Saudi Arabia, Hong Kong
and Singapore were higher than in most other popular destinations for working expats. However, with rising costs of living across the board plus the temptations of luxury living, the average spend was high, leaving little for savings.
One of the...
24 Jul at 6 PM 2013
Results of a recent survey have confirmed the capital of Angola, Luanda, as the world’s most expensive city for expat living.
The survey took in 214 world cities and cited security costs as the reason for Luanda’s top position. Undertaken by Mercers as part of its yearly World Cost of Living Survey, the poll uses New York as the base city, and examines comparative prices in each city surveyed.
According to the company, Angola is relatively poor in spite of its position as one of Africa’s largest oil producers, with imported...
17 Jul at 6 PM 2013
The delays in processing Canadian visa applications at present being experienced by would-be migrants in many world countries are likely to increase due to strike action by immigration officers.
Strike action is being taken by members of the Professional Association of Foreign Service Officers at offices in Japan, China, the UK, Brazil, Hong Kong
, Thailand, India, the USA, Columbia and Indonesia. Immigration officers are advising applicants in these countries to anticipate further delays as a result.
All the offices concerned are...