News

Government to subsidize more projects for the elderly

A new phase of the Neighbourhood Active Ageing Project will be launched.

Government to subsidize more projects for the elderly

A new phase of the Neighbourhood Active Ageing Project will be launched.

Government secures repurchase deal with Citibank

Repurchase offer’s total value to reach $1.06bn, covering about 92% of Citibank HK customers holding outstanding notes.

Foreign currency reserves in June up by US$1.3bn

Reserve reached US$277.2bn at the end of June.

New warning up on fraudulent bank emails

The public is advised anew not to access Internet banking accounts through hyperlinks embedded in e-mails, Internet search engines or suspicious pop-up windows.

Building transactions in second half of 2010 down 18%

The transactions’ total consideration for the period was down 2.2% to $370.14bn.

Double whammy: Price hikes and wage inflation soften local demand

Although June's input cost index eased for the first time since February, at 65.5 it is still sitting high above trend, so cost inflationary pressures remains acute, says HSBC.

Hong Kong June flat sales up 7.5%

Yet the number of searches of land registers made in the same month dropped 2.9% compared with May and fell 6.7% compared with June 2010.

Hong Kong retail sales up 27.8% to $33.1bn

Residents’ improving income and vibrant inbound tourism are expected to further boost retail business.

May Exchange Fund up $43.4bn

Hong Kong’s monetary base at the end of May down 0.5% to $1.05tn behind a decrease in Certificates of Indebtedness.

Renminbi deposits up 7.5%

Deposits grew to RMB548.8 billion.

Hong Kong’s office market makes rapid rebound in Q1 2011

CB Richard Ellis says the country’s prime office rates climbed by 40% at the end of Q1 2011.  

Imports and exports in Hong Kong soar

The value of total goods exports rose 17% while the value of goods imports increased 15.8% for the first five months this year.

May new mortgage loans down 1.4%

Yet approvals for primary market transactions and secondary market transactions grew by $1.2bn and $3.1bn.

Visitor arrivals up 14.7% in May

Appreciation of the yuan against the Hong Kong dollar was named one of the drivers.

Hong Kong and European Free Trade Association members ink free-trade pact

Trade in services, goods and in investment; and protection of intellectual property are covered in Hong Kong’s first free-trade agreement with the European economies.

Is Hong Kong’s banking sector in trouble?

The Royal Bank of Scotland says there is risk of a financial crisis after an extended period of ultra-loose monetary conditions in Hong Kong.

Office space shortage drives tenants to Singapore

A consultant went on to say that Hong Kong has not managed its land supply well. This as multinational companies expanding in Asia are said to be turning increasingly to Singapore for their regional bases.