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Experts said that businesses in Hong Kong are likely to consider shifting to other financial hubs such as Singapore amid rising political uncertainty and recent protests in the city, CNBC reported citing sources. Peter Churchouse, managing director of Hong Kong-based investment firm Portwood Capital Ltd., said that several companies are relocating their regional headquarters to other parts of Asia due to increasing rules and regulations in Hong Kong.
1. Turkish airlines cancel flights to Iran and Iraq amid war concerns
3. Zurich Insurance to stop underwriting new oil and gas projects
4. Bermudan, European reinsurers to suffer major hit from bridge collapse
5. Tycoon gets death sentence for multi-billion-dollar fraud
6. Inflation drives 10% increase in sum insured for windstorms