City Hong Kong Financial News

These debuts mark the first launch of spot cryptocurrency ETFs in Asia, coming just three months after the U.S. introduced its first ETFs to track spot bitcoin.

As Bitcoin (BTC) pushes back to the north of $64,000 on anticipation that the imminent launch of spot Bitcoin and Ether (ETH) ETFs in Hong Kong might inject fresh bullish impetus into the crypto market, on-chain markets are heating up and attracting traders in droves as they hunt for top crypto gainers today.

Everest have come under scanner after Hong Kong and Singapore banned their spices due to “quality concerns". The health authorities in both Singapore and Hong Kong found cancer-causing pesticide called “ethylene oxide" in these masalas. It is pertinent to note that the International Agency for Research on Cancer has identified ethylene oxide as a major carcinogen.

The owner of a suburban Detroit business that caught fire and exploded, killing a man, was arrested at a New York airport as he was preparing to depart for Hong Kong on a one-way ticket

Also Read | India seeks 'root cause of rejection' from Singapore, Hong Kong over ban on Everest, MDH masala The CFS issued a warning against the sale and purchase of MDH's Madras Curry Powder and Sambhar Masala, as well as Everest's Fish Curry Masala. In response, MDH stated, "We have not been approached by food safety authorities in either Hong Kong or Singapore about these findings." Also Read | Do MDH, Everest masala cause cancer? Why have Hong Kong, Singapore banned some Indian spices? Explained MDH reassured consumers, stating, "We do not use ethylene oxide at any stage of our spice production.

spice brand, on Saturday assured consumers that its products are 100 per cent safe and rejected the allegations of the presence of certain pesticides in some products by Hong Kong and Singapore food regulators. Earlier this month, Hong Kong's Center for Food Safety (CFS) said that samples of several kinds of pre-packaged spice-mix products of two Indian brands MDH and Everest were found to contain a pesticide ethylene oxide. The CFS asked consumers not to buy and traders not to sell MDH's Madras Curry Powder (spice blend for Madras curry), Everest Fish Curry Masala, MDH Sambhar Masala Mixed Masala Powder, and MDH Curry Powder Mixed Masala Powder. In a statement, MDH said it has not received any communications from Hong Kong and Singapore food safety regulators.

U.S. Food and Drug Administration (FDA) is gathering information on products of Indian spice makers MDH and Everest after Hong Kong halted sales of some of their products for allegedly containing high levels of a cancer-causing pesticide. «The FDA is aware of the reports and is gathering additional information about the situation,» an FDA spokesperson told Reuters on Friday. Hong Kong this month suspended sales of three MDH spice blends and an Everest spice mix for fish curries. Singapore ordered a recall of the Everest spice mix, saying it contains high levels of ethylene oxide, which is unfit for human consumption and a cancer risk with long exposure.

As BlackRock’s 71-day ETF inflow streak comes to an end, the Bitcoin market faces new uncertainties.  Despite a modest increase to $64,165, Bitcoin’s trading dynamics hint at potential volatility. This update provides a Bitcoin price prediction in light of recent financial shifts.

The move would make Hong Kong the first domicile in the Asia-Pacific region to approve a crypto-backed, exchange-based investment fund. It would also put the island in prime position in the race to become the digital assets hib for the region.

Also read: FSSAI to inspect samples of spices and infant food pan-India “The board convened an industry consultation and has put in systems to commence mandatory ETO testing in spice consignments destined for Singapore and Hong Kong. Spice consignments to other countries will also be strictly monitored for the presence of ETO.

Hong Kong Securities and Futures Commission (SFC) has approved three spot Bitcoin and Ethereum exchange-traded funds (ETFs) that will start trading on April 30.

Singapore and Hong Kong. ETO is a pesticide classified as a carcinogen. The move follows a ban imposed by the two countries on certain spices exported by Indian brands MDH and Everest. Singapore and Hong Kong have alleged the presence of ETO in certain spices exported by the two companies. The government also said spice consignments to other countries will also be strictly monitored for the presence of ETO.

NRIs) are contributing nearly a fourth to the total residential sales at large developers, up from 7-10% before the pandemic, as top cities continue to see price appreciation and rising demand. According to developers and brokerage firms, the US, Singapore, the UAE, Australia and Saudi Arabia have emerged as big markets for them and they have dedicated teams to help buyers in selecting the projects. According to market sources, the country's biggest developer DLF in its last project Privana South in Gurugram, had achieved 25% share (about ₹1,800 crore) in NRI sales.

spot bitcoin and ether exchange traded funds aim to start trading on April 30, three asset managers that provide the products said on Wednesday. The financial hub is set to be Asia's first to accept cryptocurrency products as a mainstream investment tool, and the products have also received official regulatory approval from the Securities and Futures Commission, according to the Hong Kong markets watchdog's website.

Hong Kong is gearing up to launch its much-anticipated spot  Bitcoin  and  Ethereum  exchange-traded funds (ETFs) by the end of April. 

Hong Kong’s stock market used to be the world’s top equity fundraising venue. Not anymore: In the number one spot as recently as 2019, it didn’t even break the top five in 2023 according to Dealogic. But the market is up 6% this week, its best performance this year, in the wake of proposed regulatory changes.

benchmark has climbed nearly 2 per cent amid firm global trends. The 30-share BSE Sensex climbed 114.49 points or 0.16 per cent to settle at 73,852.94 on Wednesday. During the day, it jumped 383.16 points or 0.51 per cent to 74,121.61. In the last four days, the BSE benchmark climbed 1,363.95 points or 1.88 per cent.

Asian shares have opened higher, led by an over 2% gain in Japan’s Nikkei 225 after U.S. stocks rallied for a second straight day Tuesday, blunting the blow of what’s been a rough April

PTI's report citing an official, the commerce ministry has sought technical details, analytical reports and the details of the exporters whose consignments have been rejected. Details from Singapore Food Agency and Centre for Food Safety, and Food and Environmental Hygiene Department, Hong Kong have also been sought, the official said.

The Hong Kong Securities & Futures Professionals Association (HKSFPA) advocated establishing a self-regulatory committee within the city’s crypto firms to enhance compliance monitoring on April 22.

India, the world's largest producer, consumer and exporter of spices, has sought details from food safety regulators of Singapore and Hong Kong, which has banned certain spices of Indian brands MDH and Everest due to quality concerns. The commerce ministry has also directed Indian embassies in both Singapore and Hong Kong to send a detailed report on the matter. The ministry has also sought details from the Indian firms — MDH and Everest, whose products have been banned for allegedly containing pesticide 'ethylene oxide' beyond permissible limits. «Details have been sought from the companies. Root cause of the rejection and corrective actions will be determined along with the exporters concerned,» a commerce ministry official said.