Friday December 15, 2017

HSBC’s sleaze connection: Banking giant red-faced after company website directs visitors to porn site

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Bu NewsGram Staff Writer

After being left red-faced over a website blunder which directed unwitting visitors to a pornographic site on its Hong Kong page, banking giant HSBC has issued an apology for the mishap.

According to media reports, the third party website for an obsolete community award had expired and was subsequently taken over by a porn site. It was originally connected with the HSBC site.

The video appearing on the Apple Daily newspaper website showed the website linking to a page that showed suggestive pictures of scantily clad women.

“The link to the external website has been removed from its community projects page HSBC would like to apologise to the public for any inconvenience caused”, the banking major said in a statement issued on Monday.

The British bank added that it was not associated with the racy webpage in any way, adding that its website remains secure.

Meanwhile jokes were being circulated on Apple Daily’s Facebook page saying that it was  a new HSBC business.

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Dangal continues its Victory march, becomes the Highest Grossing Bollywood Film in Hong Kong

"Dangal" currently has an overseas total of $217.17 million and worldwide collection of $297.68 million (including India)

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Dangal movie
  • Dangal becomes the highest grossing Bollywood film in Hong Kong with a collection of 23.45 million Hong Kong dollars
  • “Dangal” has crossed the lifetime collection of Aamir’s 2009 film “3 Idiots”
  • The film has been backed by Disney India and Aamir Khan Production.

Mumbai, Sep 23, 2017: Bollywood superstar Aamir Khans sports drama film “Dangal” is continuing its victory march at the box office worldwide and has become the highest grossing Bollywood film in Hong Kong with a collection of 23.45 million Hong Kong dollars.

As confirmed by the film’s spokesperson, “Dangal” has crossed the lifetime collection of Aamir’s 2009 film “3 Idiots”, which minted 23.41 million Kong Kong dollars in the country.
“The film released in 46 screens in Hong Kong and Macau which is four times more than the regular screen count for a Hindi mainstream release,” said Amrita Pandey, Vice President – Studios, Disney India.

Also read: Despite Testy Ties, Bollywood Movie ‘Dangal’ that addresses Social Themes and Stars Actor Aamir Khan captivates Audiences in China

“The local audience’s overwhelming response reaffirms that an inspiring story backed by the right team, distribution planning, superior storytelling with such strong performances — can win hearts and transcend boundaries, and ‘Dangal’ exemplifies that,” Pandey added.

The film has been backed by Disney India and Aamir Khan Production.

Based on the life of Mahavir Singh Phogat, an amateur wrestler, who trains his daughters Geeta Phogat and Babita Kumari to be world-class wrestlers, the film also features Sakshi Tanwar, Fatima Sana Shaikh and Zaira Wasim.

“Dangal” currently has an overseas total of $217.17 million and worldwide collection of $297.68 million (including India).

(IANS)

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Journey of Indian Origin Harry S. Banga among Richest people in Hong Kong

Harindarpal Singh Banga is among the list of Top 50 richest people according to Forbes Magazine

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Harry S. Banga is one of the richest people in Hong Kong
Harry S. Banga is one of the richest people in Hong Kong. Pixabay

Hong Kong, Sep 11, 2017: He grew up in Chandigarh and never thought he would be a billionaire and one of the richest people in Hong Kong. But Harry S. Banga has done that successfully in the fields of commodities, ship management and asset management.

With a net worth of $1.02 billion, Harindarpal Singh Banga, as the chairman of the fairly young Caravel Group, not only figures among the list of Top 50 richest people (Forbes Magazine) in Hong Kong but is known as the tycoon who has staged a comeback in the commodities sector in a big way.

“It’s been a great journey. (I am) So proud of achieving what we have done. Obviously, there were a lot of ups and downs. Never realised on leaving Chandigarh that I will be where I am today. By the grace of god, it has been a wonderful and successful journey. One day I will write a book,” Banga told IANS during an interview in the swanky headquarters of the Caravel Group in the Central Plaza skyscraper in Hong Kong’s busy Wan Chai commercial area.

Banga, who started as a shippie, has reasons to feel proud.

He exited the Noble Group, in which he was a co-founder in 1988, just before it started crumbling on the business front. Setting up the Caravel Group in 2013 with an $800 million investment, Banga was soon back in the big league of Hong Kong billionaires early this year.

“We have three verticals within the Caravel Group. The first one is Asset Management. It is purely investing in liquid assets in equity, fixed income and debt investment and some private equity investment. The other part is brick and mortar business in Caravel International which has got two verticals. One is Caravel Resources under which we do the commodities business. Then we have Caravel Maritime and Caravel Fleet Management Limited.

“Today we are the third largest ship management company in the world. We have 450 ships under our management, close to $20 billion dollars of assets. Total officers and crew are about 18,000 — the majority of them from India,” he explained.

With operations spread in 19 countries across most continents, Banga says that doing business with China is easier.

“Seventy per cent of our total turnover comes from China. I have been dealing with China since 1983. Dealing with officials and corporates in China, I find them very easy to develop and do business with.

“Our business mainly focuses around China, which is the main consumer of commodities today. Today, we are the largest international trading company supplying iron ore to China. Total volume is 40 million tonnes. The originating countries are India, Australia, South Africa and Brazil. Caravel Carbon does the thermal coal business. Sixty per cent of that goes into China and 40 percent to India to power plants, cement plants etc,” he said.

Though his company has offices in India, the business dealing is limited.

“While in other countries in Europe, Australia, America it is either a green light or red light — it is all very clear. Though in the last three years it is changing, in India it is permanent amber light. So, you don’t know if it is red or green. They do come with a policy in India but it takes a long time to understand that policy,” said Banga, who was honoured with the Pravasi Bharatiya Award in 2011 by the Indian government.

“Ours (India) is not easy. We have religion issues, caste issues, language issues, states have their own issues. All these things are very challenging. New Delhi takes decisions. The implementation is in districts. It is a very different world there (in the districts). In Beijing, one guy decides, everyone implements,” he said.

Banga is worried that too many young people in India are getting education and skills, but not enough jobs are available.

“In India, we have the beauty product and health product e-retail company called Nykaa. That is one of the major investments that we have,” he added.

Born in Amritsar, Banga, 66, did his schooling and bachelor of engineering in Chandigarh before moving out in the 1970s.

“I became the youngest captain at the age of 27-and-a-half. I worked with companies in London, Geneva and Hong Kong, where I arrived in 1984,” he said.

Among other things, Banga has an eye for contemporary paintings and antiques. (IANS)

 

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Tea from Britain Booming in China, the Drink’s Birthplace

For three centuries, countries in Asia and Africa have been quenching Britons' thirst for tea, supplying dried leaves worth millions of pounds every year

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An employee packs boxes of tea at the production line at Taylors of Harrogate's tea packaging facilities in Harrogate, England, Aug. 30, 2016. Image source: VOA

Ji Mengyu sinks into a soft chair with her cup of tea to the sound of tinkling teaspoons and light chatter. The opulently decorated Victorian tea salon is quintessentially British, something straight out of Downton Abbey. Except it’s in Beijing.

The 25-year-old HR professional is one of a growing number of Chinese who are looking past their country’s ancient tea traditions in favor of imported British blends. For Ji, the tea has an aura of luxury and quality, and gives her a sense of partaking in the posh British culture popularized globally by TV shows and fashion brands.

“I think British people’s traditional customs and culture have a kind of classical style,” says Ji, who says she’s inspired by TV shows like Downton Abbey, but also Sherlock Holmes and Game of Thrones.

For three centuries, countries in Asia and Africa have been quenching Britons’ thirst for tea, supplying dried leaves worth millions of pounds every year. Now, that trend is showing some signs of reversing. China and Hong Kong in particular, are seeing a surge in appetite for British tea blends – some of which are made with leaves from China itself, an example of the twists in trade that the globalization of tastes can create.

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Upscale tea blends from storied British companies like Twinings, Taylors of Harrogate and Hudson & Middleton occupy increasingly more space on shelves in Chinese supermarkets, restaurant menus and online shops.

Tea houses serving British afternoon tea have sprouted up in the bigger cities in China. Five years ago, Annvita English Tea Company managed ten tea houses around China, serving imported blends and pastries in British-style tea rooms. The number has since grown ten-fold, with more planned.

“It fits the taste of people who want to pursue a higher quality of life,” says Li Qunlou, general manager at AnnVita English Tea House in Sanlitun in Beijing.

As a result, British tea companies selling premium blends have seen their exports to China and Hong Kong skyrocket.

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In the first five months of 2016, British tea exports to Hong Kong nearly tripled in value compared with two years earlier. They doubled to the rest of mainland China, data from the U.K. HM Revenue & Customs show.

Shipments to China and Hong Kong only make up 7 percent of total British tea exports, but the share is growing quickly.

Some of these deliveries come from Harrogate, a small town in northern England that is the home to Taylors of Harrogate. The fourth generation family-owned company has been selling tea to China for more than 10 years. In the past three years, sales have more than doubled every year, albeit from a low starting point.

“China produces nearly one half of the world’s tea, so on the surface you would think that there is a limited opportunity for Taylors of Harrogate,” says Matthew Davies, Head of International Sales at Taylors of Harrogate.

Tea originates from China and has been a central part of the culture for thousands of years. In Britain, tea was not introduced until the 17th century, though it has since become a staple and adapted to local tastes.

Every day thousands of tea samples arrive in Harrogate for the tasters to evaluate. The business essentially relies on their taste buds to find the right mix of leaves to maintain the signature flavors that the company bases its reputation on. Chinese customers mainly buy Taylor of Harrogate’s Earl Grey and English Breakfast tea.

“Our approach was to invest time and resources to understand consumer behavior and we found that there are a number of Chinese consumers with a high level of discretionary income and demand for Taylors of Harrogate brands,” says Davies.

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The demand is growing mainly among China’s wealthy middle class and is fueled by portrayals of British high society featured in TV shows, news stories of the British royal family and classical novels like Jane Austen’s, analysts say.

“Previously, Chinese consumers were more exposed to American culture, McDonalds and Hollywood-style things. These few years, because of the popular British TV dramas, Chinese consumers are more exposed to British brands and the lifestyle,” says Hope Lee, senior drinks analyst at Euromonitor International.

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Another reason for the thriving popularity of British imported tea is the seemingly endless string of food scandals that plagues China and Hong Kong.

Greenpeace and government investigations found high levels of pesticides or poisonous earths in tea, also in some of the best-known brands. Imported premium British tea brands are perceived as being safer and of higher quality.

Paradoxically, some of the British tea sold in China and Hong Kong is originally grown in China. However, it represents only a small amount of British exports there – about 3 percent, according to Frost & Sullivan, a market research company.

British tea makers mainly import leaves from Africa and India, regions where the taste for British tea blends has not grown in the same way, for economic and cultural reasons.

Despite the recent slowdown in the Chinese economy, Taylors of Harrogate and many other companies and industry experts are optimistic about the country’s consumers.

“We are continuing to strengthen our lengths in China,” says Davies. (VOA)