Hong Kong

In recent years, increasing attention has been given to the issue of work-life balance. Governments, institutions and individual businesses have recognised that achieving a healthy balance not only boosts workers' health and morale, but also their productivity, ultimately benefitting the business too.

The employment market in financial services in Hong Kong and China has been fairly moribund since the third quarter of last year, but when it comes to bonuses the picture is more complex: some employees enjoyed a rise; high-earning bankers suffered the worst decreases; and while firms generally managed expectations well, many employees ended up dissatisfied with the size and structure of their bonuses.

Since this author last reported on Hong Kong’s emergence as an important regional arbitration venue, two significant developments have further bolstered the standing of the territory.

The area outdid both Hong Kong Island and Kowloon in terms of rental hike.

Henry Ingrouille was also appointed as chief administrative officer.

Hong Kong’s economy grew 5% in 2011, which was lower than the previous year's 6.8%.

Three IPOs in Hong Kong that were to have been launched last week have been shelved.

The Hang Seng Index ended its worst May in 14 years, plunging 11.7%, and dropping for four straight weeks, the longest since November 2011.

The Asia Pacific (APAC) airline industry has been experiencing unprecedented growth in recent years. The Chinese airline players, especially, are leading the way with significant growth and expansion. This can be attributed to the country’s rapid urbanization and economic upswing leading to an increase in consumer spending and purchasing power from within (outbound travel) as well as a growing interest in China as a holiday and business destination without (inbound travel). As a result, about 360 million more APAC travelers are expected from the region by 2014. This also means a potential windfall for Hong Kong as it positions itself as the gateway to China as well as a launching pad for the Chinese to the rest of the world; Hong Kong is seen to be a popular first and last stop for travelers when they embark on their journey through the Far East and a popular destination for the Chinese exploring tourism for the first time.

The only solution is to allow the volume of money to be determined entirely by free-market forces.

The recent arrest of the Kwok brothers, members of one of Hong Kong’s highest profile business families, reminds us that doing business with friends and relatives can sometimes end in tears. But that doesn’t mean that Asia’s traditional family-based companies do not have something to teach the wider business world.

Russia’s second largest oil company plans a secondary listing in Hong Kong in mid-2013 to draw investors.

Hong Kong tops the annual survey measuring how well countries manage their economic and human resources.

A major Korean bank has opened a financial center in Hong Kong for the first time.

Hong Kong next week will launch another “iBond,” or inflation-linked retail bond for subscription by residents.

Russians helped fuel an increase in visitor arrivals in Hong Kong to 3.84 million.