Philippine lawyer denies Okada arrest (UPDATED) Japanese gaming tycoon Kazuo Okada has been arrested by Hong Kong's anti-corruption agency over corruption allegations, the company he founded said Monday. Universal Entertainment Corp. (UEC), of which Okada was director until last year, said in a statement that he was arrested by the Independent Commission Against Corruption "in relation to various corruption related offenses" and is currently released on bail. It said Okada, who in 1969 started making and selling pachinko machines and casino equipment, resigned from the directorship of the company on June 29, 2017, and has no connection with it anymore. "We will render our full support and assistance to the ICAC and other law enforcement authorities should the situation require," it said. Okada departed the Tokyo-listed company amid allegations he misappropriated millions of dollars. Local media reported last week he was arrested by the ICAC on July 30 for alleged conspiracy to defraud … [Read more...] about Gaming tycoon Kazuo Okada arrested in Hong Kong, former company says
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Hong Kong Foreign Correspondents’ Club stands firm against Chinese pressure
By Venus Wu HONG KONG (Reuters) - Hong Kong's Foreign Correspondents' Club resisted pressure from Chinese officials to cancel an event with an independence activist, provoking rebuke from the pro-Beijing establishment as it seeks to curb talks about independence in the city. The club invited activist Andy Chan to speak at a luncheon next Tuesday, which drew strong criticism from China's Foreign Ministry in the former British colony as well as current and former leaders. A number of Reuters journalists are members of the FCC. The FCC's acting president, Victor Mallet, said China's Foreign Ministry had made "representations to the club" regarding the event, without elaborating on what the ministry had said. The club was pressing ahead with the luncheon, he said. "We believe that in free societies such as Hong Kong it is vitally important to allow people to speak and debate freely, even if one does not agree with their particular views," the FCC said in a statement on Monday. A former … [Read more...] about Hong Kong Foreign Correspondents’ Club stands firm against Chinese pressure
Gaming tycoon Kazuo Okada arrested in Hong Kong
Japanese gaming tycoon Kazuo Okada has been arrested by Hong Kong's anti-corruption agency over corruption allegations, the company he founded said Monday. Universal Entertainment Corp., of which Okada was director until last year, said in a statement that he was arrested by the Independent Commission Against Corruption "in relation to various corruption related offences" and is currently released on bail. It said Okada, who in 1969 started making and selling pachinko machines and casino equipment, resigned from the directorship of the company on June 29, 2017, and has no connection with it anymore. "We will render our full support and assistance to the ICAC and other law enforcement authorities should the situation require," it said. Okada departed the Tokyo-listed company amid allegations he misappropriated millions of dollars. Local media reported last week he was arrested by the ICAC on July 30 for alleged conspiracy to defraud and released the following day. He has reportedly … [Read more...] about Gaming tycoon Kazuo Okada arrested in Hong Kong
Japan’s Universal says former chairman Okada arrested in Hong Kong
TOKYO (Reuters) - Japanese gaming group Universal Entertainment Corp (6425.T) said on Monday its former chairman Kazuo Okada was arrested in Hong Kong in relation to multiple corruption-related offences. FILE PHOTO: Universal Entertainment Corp's founder Kazuo Okada attends a news conference at the Tokyo District Court in Tokyo, Japan September 14, 2017. REUTERS/Issei Kato Okada is currently released on bail, said the company, which makes Japanese-style slot machines and operates a casino in the Philippines. The Japanese billionaire was ousted from Universal’s board last year, with the board accusing him of misappropriating $20 million in funds. Reporting by Ritsuko Ando; Editing by Chang-Ran Kim … [Read more...] about Japan’s Universal says former chairman Okada arrested in Hong Kong
Hong Kong insurance market lures well-educated mainland Chinese
HONG KONG (Reuters) - May Zhang, a 28-year-old from the southern Chinese city of Shenzhen, holds a master’s degree in engineering from the University of Oxford, but now makes her living selling insurance in Hong Kong. FILE PHOTO: A couple tours inside the Bank of China Tower opposite to AIA Central building in Hong Kong August 12, 2009. REUTERS/Bobby Yip/File Photo Drawn by lucrative pay, Zhang is part of a growing band of well-educated young Chinese selling insurance in the city to buyers from mainland China who are seeking refuge from a falling yuan and are rattled by healthcare safety fears at home. These agents are seen as having the edge in winning business from clients from China’s upper and middle classes since they have similar educational and social backgrounds. “Every time the yuan depreciates or when things like the vaccine scandal happens, I get more people panicking and asking about Hong Kong insurance,” said Zhang, referring to recent … [Read more...] about Hong Kong insurance market lures well-educated mainland Chinese