Economy
Inflation feared to reach 8% in August
Inflation feared to reach 8% in August
With inflation accelerating to the fastest pace since 1995, an economist forecasts inflation to average 7.8 percent in the second half of 2011.
China’s flash manufacturing PMI rises to 49.8% in August
HSBC says recent export growth was strong, with shipments expanding by 22% y-o-y in 2Q.
Pace of inflation the fastest since 1995
An economist described the headline CPI figure for July as “pretty scary”.
Consumer prices up 7.9% in July
Good news is electricity, gas and water prices went down mainly due to the Government's electricity charge subsidy.
“Stay calm”: Professor KC Chan
The Secretary for Financial Services & the Treasury said this amidst the European debt crisis and a seemingly looming recession in the US.
Scheme $6,000 forms now available for download
Registration forms can also be obtained from more than 1,100 branches of the 21 participating banks.
Hong Kong’s inflation may have surged to 8.6% in July
Standard Chartered says inflation will continue its seasonal uptrend from August onwards.
China’s outbound M&A deal activity up 14%
There has been no sign that the country’s interest in outbound M&A is waning as analysts expect more number of big deals in 2H2011.
Hong Kong’s Treasury chief: Asian markets are healthier
For Prof Chan, market fluctuations in the US and Europe were caused by worries of recession and debt-settlement issues.
Tourist arrivals in Hong Kong surge 14.1% in 1H11
DBS says this is the highest half-yearly figure ever recorded.
Hong Kong’s GDP grows 5.1% in 2Q11
Standard Chartered blames the drag from net exports for the lower-than-expected growth.
Details set for $6,000 hand out scheme
The $6,000 handout scheme will commence on August 28, according to Secretary for Financial Services & the Treasury Prof KC Chan.
Hong Kong’s GDP may have grown 6.3% in 2Q11
With retail sales growth staying above 27% for three consecutive months.
Pacific Economic Cooperation meeting to be held Aug 16
The 47th Meeting of the Hong Kong Committee for Pacific Economic Cooperation to be held on August 16 is now open for public enrolment.
Finance secretary: Hong Kong dollar is stable
Tsang said downgrade of US debt rating by itself would not spark crisis but by other economic factors.
Hong Kong forex reserves surged by US$1.6bn in July
The total foreign currency reserve assets at the end of the month amounted to US$279bn.
Currency peg with the US dollar stays put
Hong Kong does not intend to make changes even with US’ recent credit rating.
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