Hong Kong

Albert Lee will be based in Threadneedle's Hong Kong office.

The company to further evaluate opportunities to expand and diversify its commodity trading business and potential acquisitions of direct mine investments and strategic interests.

A total of 3,598,030 visitors arrived in January this year.

A surplus of $93.8 billion was registered for the 10 months ending January 31.

Stephen Yiu succeeds Carlson Tong for a four year term on April 01, 2011.

A total of 34 building plans were approved by the Buildings Deaprtment in the past month.

Six property developments above the MTR stations along the West Rail should comply with new guidelines on controlling "inflated buildings". Thus Financial Secretary John Tsang is requesting the West Rail Property Development Limited for a redesign.   These six West Rail  property development projects are wholly owned by the Government through the WRPDL. They have all reached a very advanced stage which could proceed to build without being made subject to the new design requirements, which will come into effect on April 1, 2011. The Nam Cheong Station project has an approved Master Layout Plan for its original design; while the other five projects, namely Tsuen Wan West Station at Cityside and at Bayside, Long Ping North, Long Ping Station and Tin Shui Wai at Tin Shui Wai Station, all have both their  master layout plans  and building blans for the original designs approved. "During the Policy Address debate, some Members of the Legislative Council requested that since the WR projects are wholly owned by the Government, the Government should set a good example by requiring all these WR sites to be subject to the new rules on regulating 'inflated buildings'," said Secretary for Development, Mrs Carrie Lam. "We have taken on board members' views in coming to this decision. Moreover, in the course of redesigning these six projects, we have also taken the opportunity to change the flat mix to increase the supply of small and medium-sized flats. While the new building design requirements and the 10% cap on GFA concessions will have a negative impact on the revenue receivable by the Government, this is justified on grounds of creating a quality living environment," Mrs Lam added.  Based on very preliminary designs prepared by MTRCL, the total number of flats in the Nam Cheong and two Tsuen Wan projects will remain more or less the same, but the proportion of small and medium-sized flats, i.e. flats with a saleable floor area of 50 square metres or below, will be more than doubled, providing about 4,000 such units.

42 new crew graduated from the training held last December to January.

The transport subsidy's first payment is amounting to $3,600, said Secretary for Labour & Welfare Matthew Cheung.

A  further $1 billion for Operation Building Bright is being propsed by Financial Secretary John Tsang.

The Planning Department will solicit further public views before coming up with a recommended option and finalising the east harbour study.

HKMA announced that the investigation of over 99% of a total of 21,748 Lehman-Brothers-related complaint cases received has been completed.

CLP's operating earnings increased 7.2 per cent in 2010 from 2009 to HK$9,148 million.

The proposal to inject $6,000 into each Mandatory Provident Fund account will leave wealth with the people, said Secretary for Financial Services & the Treasury Prof. KC Chan. He added that the measure will benefit more people than a tax rebate would. Prof. Chan said the average return on investment of MPF schemes are satisfactory and there are measures and policies to encourage MPF trustees to reduce administrative fees. He expected 4 million Hong Kong people to benefit from the proposed injection. Noting there are only 1.4 million taxpayers in Hong Kong, he said a tax rebate would only benefit a limited number of people.

Russia's EuroSibEnergo and China Yangtze International  have signed an agreement to form a joint power venture in Russia's Siberia, the EuroSibEnergo announced on Thursday.

For delaying the payment of wages worth about $38,000, Global Trading Innovative Service Limited was fined $90,000 at the Eastern Magistrates' Courts.