News
Gov’t deficit hits $183b
The government took into account the proceeds of $20b received from the issuance of green bonds.
The government recorded a deficit of $183b in the first five months of the current financial year, taking into account the proceeds of $20b received from the issuance of green bonds.
There was a deficit because some major types of revenue like salaries and profits taxes are received towards the end of a financial year.
In the first five months, government expenditure was $319.2b, whilst revenue was $116.2b.
Gov’t deficit hits $183b
The government took into account the proceeds of $20b received from the issuance of green bonds.
The government recorded a deficit of $183b in the first five months of the current financial year, taking into account the proceeds of $20b received from the issuance of green bonds.
There was a deficit because some major types of revenue like salaries and profits taxes are received towards the end of a financial year.
In the first five months, government expenditure was $319.2b, whilst revenue was $116.2b.
Gov’t to sell 3 residential sites in October-December quarter
The sites will provide about 2,500 units of flats.
Retail sales value slightly dips by 0.1% YoY in August
The total value stood at $28.6b.
Party time! Gov’t eases distancing measures in bars, clubs
The new measures will take effect on 6 October.
Why prices of new launches from Aug-Sept were lower than secondary projects
JLL said new projects were at an average discount of 10%.
Sustainability in the workplace: In which areas should companies do more?
Workers (27%) think that their company is lagging in their sector in terms of sustainability efforts.
Cathay Pacific elevates chatbot performance with AI training platform
The platform helps chatbots provide more accurate responses to travel inquiries.
How are Hong Kongers attitude change whilst living with COVID-19?
Some have an increased desire to travel whilst some are still concerned about health.
First sustainability-linked facility for MICA Group approved: DBS HK
The facility has a tenor of six months.
Hong Kong set to enable new tax measures
The measures aim to tighten rules under BEPS.
Hong Kong sets sights on innovation and technology
The government has set aside $10b to enrich the I&T ecosystem.
Quota for private cars crossing Hong Kong-Zhuhai-Macao bridge raised
Up to 500 private cars can now cross the bridge per month.
Hong Kong may see negative economic growth in 2022
This is due to the rising cost of capital and tightening monetary conditions amongst others.
Reverse quarantine talks with Shenzhen 'progressing’: CE Lee
Officials are still discussing whether HK citizens will conduct pre-quarantine in the city or Shenzhen.
Hong Kong is the 5th most competitive market in the world
In Asia-Pacific, it ranked second.
Return of group tours, individual visit scheme may boost Macau recovery
But China's lockdowns strategy will counter overseas travel.
Basket of properties on Yen Chow Street sold for $100m
Bridgeway Prime Shop Fund and Owl Square Co-living acquired the properties.
Six retail shops and nine residential units at Kin Sun Building, Nos. 11-19 Yen Chow Street in West Kowloon were sold separately to two buyers for a total consideration of $100m, its marketing agent, JLL announced.
Bridgeway Prime Shop Fund acquired the retail shops for $70m, whilst Owl Square Co-living Founder Max Poon and AL Group Limited Chairman Laurence Chan got a hold of the residential units.
“All these six connecting corner shops with wide frontages are very rare in the area. With numerous residential redevelopment projects nearby, I am very optimistic about the price appreciation potential of this investment,” Edwin Lee, founder of Bridgeway Prime Shop Fund, said.
Accordion to Lee, the shops provide a passing yield of 3% and could achieve a yield of 5% when projects nearby the properties are completed.
Poon, for his part, said he will transform the nine residential units into “high quality and affordable living options for young professionals.”
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