In Focus
Hong Kong sues Ernst & Young
Accounting firm Ernst & Young faces a dilemma that could violate the laws of Hong Kong and China either way.
Hong Kong sues Ernst & Young
Accounting firm Ernst & Young faces a dilemma that could violate the laws of Hong Kong and China either way.
Mortgage loans application and approvals fall
Mortgage loans drawn down during July dropped by 20% compared with June, to $16.1 billion, said the Monetary Authority.
Check out Hong Kong property prices post Home Ownership Scheme
Home prices hit a record high of 106.85 index points.
Finance professionals not abandoning Hong Kong
Despite the tough times, 82% of financial professionals now in Hong Kong would rather stay put until the global financial crisis blows over.
4 in 5 finance professionals snub working abroad
But half of them are geared up to leave banking and move to other industries.
Hong Kong strengthens financial ties with the Mainland
A new securities company is seen as a milestone in strengthening securities cooperation between Hong Kong and China.
Credit card receivables rise 3.2% to HK$98.7
This is after decreasing 4.8% in the previous quarter, the Monetary Authority said.
Luxury apartment market losing tenants
Monthly rents for a house on Hong Kong Island’s south side go for HK$125,000 a month.
Swire Pacific’s net profit plunges 65% to $8.44b in 1H12
Blame it on the worse-than-expected first half results that hit its affiliate, Cathay Pacific Airways Ltd.
Hong Kong economy grew at the slowest pace in 2Q12 since 2008
The economic growth forecast has then been reduced to 1% to 2% for the year.
Hong Kong no longer the top destination for business travelers
Singapore beat Hong Kong as Asia’s most popular business travel destination during the first half of the year.
Extreme investor caution drives down HKEx profit by 14%
Hong Kong Exchanges & Clearing Ltd reported a 14% year-on-year drop in in net income to HK$2.22 billion in the first half.
Hutchison badly hit by global business downturn
Hutchison Whampoa eported a massive 78% drop in net profit for the first half of the year.
Building and home sales slip 8.1% to 7,706
The total sales value of these transactions dropped 14% to $46.8 billion in July.
Older population in 2041 a threat to Hong Kong’s prosperity
People aged 65 and over is projected to rise from 13% in 2011 to 30% in 2041.
Home affordability ratio approaches danger level
A spike in Hong Kong’s home affordability ratio raises fears of future payment defaults by home owners.
AIA takes out billion dollar loan for ING insurance buy-in
Hong Kong’s top insurance company will finance its planned acquisition of ING Group NV’s insurance operations with bank loans.
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