Hong Kong

Pay increase in Hong Kong seen to rise in 2012—survey

Pay increase in Hong Kong seen to rise in 2012—survey

Report showed average salary increase at 4.2% in 2011 and forecast at 4.6% in 2012 while performance bonus is at 20% of annual base salary.

SWD corrects computer glitch affecting long term care services

The Social Welfare Department staff confirmed the veracity of a report involving an elder whose allocation of service was delayed by about six months. 

Asean to ascertain effects of Hong Kong's entry to free trade area with China

Asean memebrs will study the economic benefits and implications of Hong Kong joining the Asean-China free trade area.

IMF lauds HK's exchange rate system, policy framework

Hong Kong's Linked Exchange Rate system and the government's policy framework to support growth and safeguard financial stability were strongly endorsed an International Monetary Fund Staff Mission.

Outlook for Hong Kong’s growth cloudy: UBS

Even though the country narrowly missed a technical recession, it’s not out of the woods yet.

Hong Kong continues to be the most expensive office location in Asia Pac

Tokyo and Singapore lagged behind as prime office rents in Hong Kong reached US$122.33 per sq ft per year as of the third quarter of 2011.

Don’t be fooled by Hong Kong's strong sales growth in 2011

UBS says 2012 will see sales growth 'coming back to earth' due to these three reasons.

Transportation, storage and courier services sector receipts reach $486.5b

The 2010 figure represents a 25.8% increase in business receipts and other income.

Hong Kong set to launch new banknotes

The two batches of the release of 3 denominations of the 2010 Series Hong Kong Banknotes will be on Nov. 22 and days before the Lunar New Year.

Sino Oil and Gas Holdings issues 312mn new incentive shares to Sanjiao Block

The move progresses as total reserves of Sanjiao Block CBM project exceed original estimates.

Gayety third quarter profit up 92.5% to HK$10.6mn

The restaurant chain’s revenue up 28.7% to HK$194.39mn.

Credit China forms JV at a consideration of HK$198.9mn

The move to capitalise on demand for small loan services and expand market reach to Chongqing.

Warning says economy not out of the woods yet

This is despite Hong Kong managing to escape a technical recession.

Donald Tsang proposes visa-free access to US

US Secretary of State Hillary Clinton reportedly reacted positively to the suggestion.

Prada to buy 19.6% in Sitoy IPO

Prada, which raised over $2b in its Hong Kong IPO, will be a cornerstone investor in the local handbag maker’s offering.

October Exchange Fund foreign assets up $38.4bn

Foreign liabilities amounted to $400mn.