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Hong Kong runs fiscal deficit for first time in 15 years
Hong Kong runs fiscal deficit for first time in 15 years
The government expects the deficit to widen to 4.8% of the GDP for next year.
Hong Kong's permanent residents to get $10,000 each
The government is looking to boost local consumption.
Grade A office vacancies widened to 6.1% in January
As a result, rents dropped the sharpest by 1.1% MoM to $120 psf.
Exports down 22.7% to $269.4b in January
The drop in values was blamed on the timing difference of the Lunar New Year.
Cash handouts, tax cuts on the cards for recession budget
Eyes are also on the city’s $1.12t fiscal reserve.
Check out Hong Kong's top fintech deals from 2015-2019
Online brokerage firm Futu Holdings raised $1.13b (US$145.5m), the largest deal since 2015.
Hong Kong allots $1.02b for the exhibition and convention industry
Organisers can get 100% venue rental costs for events at the HKCEC.
Healthcare benefits costs to climb 8.3% by 2020
Hong Kong is one of the markets expected to exceed the Asia Pacific’s average medical inflation.
Widening fiscal deficit could spill over to 2021
The government is urged to inject more cash into the retail, tourism, and F&B sectors.
Hong Kong companies have no safety net in fight for survival
The region does not have recourse to any corporate rescue procedure in times of difficulties.
Hong Kong's fintech investments hit $2.92b in 2019
WeLab $1.21b funding round was the largest fintech deal for the year.
Inflation up 1.4% in January
Food prices spiked 17% during the month.
Singapore, New Zealand beat Hong Kong in ease of doing business
But Hong Kong is still the best for dealing with construction permits.
Bank of East Asia's profit plunges 49.9% to $3.2b in 2019
The decline was attributed to an increase in impairment losses in Mainland China.
HSBC staff have qualms over bank's revamp
The bank’s commitment to the overhaul was questioned due to Quinn’s interim status.
HSBC profits crash 53% to $46.64b in FY2019
A goodwill impairment of $56.74 (US$7.3b) dragged down their profits.
Can Ping An Bank weather weakening interest rates?
Its retail lending clients are less sensitive to borrowing rates..
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