In Focus

Renminbi deposit drop puts the squeeze on banks

Renminbi deposit drop puts the squeeze on banks

Renminbi deposits have fallen to their lowest level since July 2011 in January, said the Hong Kong Monetary Authority. It is the second monthly drop for renminbi deposits.

In Focus

Somewhat fewer millionaires in Hong Kong last year

The number of millionaires in the city seems to have dwindled somewhat due to the tough times.

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Bank capital adequacy ratio on the rise

The consolidated capital adequacy ratio of Hong Kong banks was 15.8% at the end-December, against 15.7% at the end-September.

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HSBC confident of strong growth in 2012-2013

Year 1 in a three-year strategy that should eventually see HSBC become the world’s leading international bank seems to have gotten off to a galloping start.

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Housing still mired in the basement

New mortgage loans approved in January fell 32% to $6.1 billion compared with December.

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Relentless business rent rise to abate this year

Yes, it’s possible for business rents in the most rent-expensive country in the world to become somewhat cheaper.

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Confidence in an economic upturn strong in Hong Kong

Optimism amidst adversity is a virtue that keeps Hong Kong resilient.

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Lunar New Year holiday sparks massive credit card use

Along with its noisy festivities, the Lunar New Year can also be counted on for one recurring event: more credit card use.

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Record passenger arrivals at Hong Kong Airport

Passenger air travel kept flying high despite the continuing economic doldrums hammering the city.

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Exports stay weak in December

Already diminished by faltering global demand, Hong Kong’s exports continued their disconcerting plunge in December.

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Tsang fears for exports; sees no growth

Exports could make or break Hong Kong’s economy this year. And the first quarter isn’t showing any signs for optimism.

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Global prime office rents rose for the 8th consecutive quarter in 4Q11

And rental growth in AsiaPac markets have decelerated from 2.5% in Q3 to just 0.9% in Q4.

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Hong Kong SMEs get government “pain killers”

Small and medium enterprises can expect a helping hand from the government to ride out the rough times ahead.

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Property deals plummet by half

January didn’t get off to a good start for the property sector.

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GDP growth downtrend to continue till 1H12

GDP in the fourth quarter of 2011 came in at 3% YoY, lower than 3Q11's 4.3%.

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FY 2012-13 budget to inject pain killers into economy

Hong Kong seems to be in for a lot of pain as growth slows by more than half in 2012 and prices continue to rise.

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Property market weakens further

Hong Kong’s appetite for pricey property is abating as government taxes bite hard.

In Focus