Hong Kong

Why advanced technologies are the Holy Grail for Hong Kong employers

Hong Kong’s seasonally adjusted unemployment rate currently stands at 2.8% the same as it has done for fourteen quarters. This, together with a shrinking talent pool and skills shortage, has meant that the HR sector as a whole has become adept at initiating creative strategies to identify, recruit, nurture and retain talent. All this whilst fending off other companies eager to hire staff away in a market driven by the job-seeker.

Hong Kong banks' loan growth hit 1.1% in June

Loans for mortgages, building, and construction drove quarterly gains.

Hong Kong gears for 5G rollout in 2020

Around 1,000 government premises will open for applications.

Voluntary turnovers rates in tech hit 13.9% in Q2

Local turnover rates are higher than those in India, Japan and Taiwan.

A third of Hong Kongers spend $746 on monthly subscription services

35% have been charged with bank fees, most of them because they forgot to pay.

Hong Kong and China enterprises invest in Peru projects

MOUs include investments in energy, coffee trade, and mining projects.

Possibility of recession looms for Hong Kong: Finance Chief

Ongoing social unrest and the escalating trade tensions place downward pressure on economic growth.

Property sales crash 24.6% to $54b in July

Buyers remain hesitant to purchase property amidst an uncertain economic environment.

Year-end retail sales may fall by up to 8.1% as protests ravage Hong Kong

The sales decline may be even worse than the 2014 Occupy Movement.

Over half of employees expect jobs to be automated in the next decade

Almost 4 out of 5 also expect their employers to invest in developing their digital skills.

Bill Gates-backed biotech in diagnostic push

PHASE Scientific's product portfolio has expanded to include major infectious diseases such as hepatitis and influenza.

ICW on digitising the supply chain

The firm works by connecting various international laboratories, making use of its big databases, artificial intelligence and team.

Restaurant receipts down 0.4% to $28.7m in Q2

Receipts of bars, Chinese restaurants and non-Chinese restaurants fell during the quarter.

Prudential ties up with telemedicine firm MyDoc to launch digital health app

Pulse will provide health tools and consultations for 11 markets in Asia.

PMI sinks to decade-low 43.8 in July

This is due to sharp declines in both business activity and new orders and fall in input stocks.