Hong Kong

External assets of the Exchange Fund increased by HK$33b as of end of August.

The Drainage Services Department has awarded a $528 million contract for upgrading the preliminary treatment works at Sandy Bay, Cyberport, Wah Fu, Aberdeen and Ap Lei Chau.

Moody’s says its new private debt placement of HK$1b won’t impact its negative outlook.

The publicly traded brokerage will price the shares at between a discount of 13% to its Shanghai-listed shares and a premium of 3%.

Analysts forecast the city’s GDP growth to reach 4.9% in 2012.

This is amidst surge in the bank’s yuan deposits in Hong Kong.

He will be replaced by current head of insurance in Latin America, Marcelo Teixeira.

The city's net employment outlook stands favorably at +21% in Q4 2011.

Aside from HSBC, Standard Chartered is also assured to find a home in Hong Kong if it decides to relocate.

Twenty-five convictions were recorded in August for breaches of legislation enforced by the Environmental Protection Department.

The former HSBC Hong Kong CEO will replace Rohit Bhagat.

It’s no surprise as many steel enterprises reported sharp decreases in profits due to the surging prices of steel related raw materials, iron ores and coals.

Hang Seng Index was down 3.4%, with HSBC shares falling 4.3% after losing its top Hong Kong executive to Blackrock Inc.

Analyst said it’s difficult to be bullish amidst events in Europe and the US.

Massimo Bonini, a renowned Italian showroom for Italian brand name shoes and accessories, announced the unveiling of its first worldwide concept store in Hong Kong.

The Customs and Excise Department seized 187 catties of suspected fake dried deer tendons worth about $41,200 in a series of raids on 28 dried food retailers last week.