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Robert Olsen Verified

Hong Kong Bureau
Asia Online Editor — Forbes
As seen in:  Forbes

Asia online editor at Forbes, I follow the money in this ginormous region. Former British Consulate staffer in H.K.

The Wealthiest Neighborhood On Earth: Deep Water Bay — Think of Hong Kong as a city of skyscrapers, more densely populated than United's economy class? Not on the southern shore of Hong Kong Island, where three streets in the Deep Water Bay neighborhood are home to 19 of the city's richest residents, with an aggregate net worth of $123 billion.

Lawmakers' Blunder Turns Hong Kong Vote Into Resounding Defeat For Beijing — At the pivotal moment when Hong Kong's political future was being determined by a crucial vote in the territory's Legislative Council - many of the bill's most ardent backers were missing from the chamber. An ill-timed walkout by supporters of the government's highly controversial plan turned Tuesday's vote into one-sided affair, with only eight members voting in favor of the proposal and 28 votes against.

Undaunted By Rivals And Red Tape, The Sky's The Limit For Hainan Airlines — On the face of it, China's surging tourism market appears to be brimming with opportunity, provided, of course, that you can navigate the vagaries of a state-policy-driven market. Take Hainan Airlines . China's fourth-largest carrier was a latecomer to an industry that has long been dominated by state-owned rivals benefiting from favorable policies.

China's Telecom Giant Says Profit Soared As Smartphones Gain Greater Appeal — Although Huawei Technologies said its latest results "show strong financial performance across all business groups," the company's smartphone business is certainly worthy of closer attention. That's because growing demand for smartphones and particularly strong growth in emerging markets are credited with delivering a 33% rise in revenue of $12 billion for its consumer business unit.

Penny-Pinching Consumers In U.S. And Europe Drag Down Earnings For Li & Fung — Until consumers in the U.S. and Europe finally begin opening their wallets without the added persuasion of discounts and promotions, companies like Hong Kong's Li & Fung are going to continue to struggle to boost their bottom lines.

Lui Che Woo - Forbes — Forbes Asia Magazine: January 19, 2015 Issue Macau casinos have always been winning bets for Hong Kong billionaires-until 2014. casino revenue fell last year for the first time since Stanley Ho's 40-year gambling monopoly ended in 2004-by an estimated 3.3%-and that's hammering Hong Kong casino fortunes.

Casino Billionaire Sees Profit Slide Amid Corruption Crackdown — In yet another sign of Macau's sliding fortunes, SJM Holdings said on Thursday that its earnings tumbled 12.7% last year. The casino operator controlled by Stanley Ho's family reported a net profit of HK$6.73 ($868 million) for 2014. Macau's gaming industry has been caught up in Xi Jinping's sweeping crackdown on [...]

Hong Kong's Protesters Return To Streets To Reject Beijing's Version Of Democracy — For the first time since mass protests shut down some of the city's busiest districts and grabbed the world's attention, pro-democracy activists were out on the streets again this afternoon to continue their campaign. Protesters marched behind a large banner bearing a caricature of the city's Chief Executive Leung Chun Ying beside the now-familiar slogans: "say no to fake democracy, we want genuine universal suffrage."

Asia's Richest Man Closing In On $15 Billion Deal For U.K.'s O2 — Billionaire Li Ka-shing announced on Friday that Hutchison Whampoa had entered exclusive negotiations to buy mobile phone operator O2 from Spain's Telefonica for more than 10.25 billion pounds ($15 billion). The terms of the deal would require Hutchison to pay a cash price of 9.25 billion pounds, and a further 1 [...]

Asia's Richest Man Said To Be In Talks To Buy U.K.'s O2 — Hutchison Whampoa, the conglomerate controlled by Li Ka-shing, is reportedly in talks to buy Britain's second-largest mobile operator for as much as 9 billion pounds ($13.6 billion). Described by The Sunday Times as "early stage discussions," O2 looks a natural target for Hutchison, as its Spanish parent Telefonica seems eager to offload the operator and raise cash to help pay off its debts.
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