In Focus
Hong Kong economy grew at the slowest pace in 2Q12 since 2008
The economic growth forecast has then been reduced to 1% to 2% for the year.
Hong Kong economy grew at the slowest pace in 2Q12 since 2008
The economic growth forecast has then been reduced to 1% to 2% for the year.
Hong Kong no longer the top destination for business travelers
Singapore beat Hong Kong as Asia’s most popular business travel destination during the first half of the year.
Extreme investor caution drives down HKEx profit by 14%
Hong Kong Exchanges & Clearing Ltd reported a 14% year-on-year drop in in net income to HK$2.22 billion in the first half.
Hutchison badly hit by global business downturn
Hutchison Whampoa eported a massive 78% drop in net profit for the first half of the year.
Building and home sales slip 8.1% to 7,706
The total sales value of these transactions dropped 14% to $46.8 billion in July.
Older population in 2041 a threat to Hong Kong’s prosperity
People aged 65 and over is projected to rise from 13% in 2011 to 30% in 2041.
Home affordability ratio approaches danger level
A spike in Hong Kong’s home affordability ratio raises fears of future payment defaults by home owners.
AIA takes out billion dollar loan for ING insurance buy-in
Hong Kong’s top insurance company will finance its planned acquisition of ING Group NV’s insurance operations with bank loans.
Go to Hong Kong, Taiwanese businessmen urged
Hong Kong is the ideal gateway for Taiwanese entrepreneurs looking to go global and its corporate tax rate is up to 16.5% lower than Taiwan’s.
Office space vacancy hits 20-year low
But demand for Grade-A office space declined forcing rents to slip 3.2%.
Business firms expect worse Q3
About 19% of Hong Kong firms don’t expect their business situation in Q3 to be better than Q2.
Hong Kong to implement trade fee cut
The city will halve its import and export declaration charges to cut the cost of doing business, the Commerce & Economic Development Bureau said.
Foreigners dominate fund management in Hong Kong
Over 60% of all funds invested in Hong Kong in the past five years came from overseas investors.
More consumer protection in new law
A bill imposing tougher penalties on rogue traders who prey on consumers could be implemented by 2013.
First-time home buyers get first shot at new flats
Some 5,000 eligible applicants will be the first to purchase flats under the Home Ownership Scheme in January 2013.
Hong Kong has most expensive retail rent
Rents in Hong Kong surged 19% in 1Q12, says CBRE.
Huge home building projects to start soon
The government will soon begin building 17,000 flats over the next five years.
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