Hong Kong
Costs drive Hong Kong firms to seek smaller office spaces
Costs drive Hong Kong firms to seek smaller office spaces
Cost optimisation, shrinking business demand named as top reasons.
Property sales up 0.3% in July
The total consideration for residential units was $35.7b.
High-end retailers expand as rents drop in Q2 2024
Causeway Bay outperformed, with rents increasing by 1.8% QoQ.
MICE rebounds in H1 2024 with 21 million visitors
Amongst overnight visitors, MICE arrivals accounted for 700,000 visitors.
11 red minibuses may convert to green routes
Further schemed details are to be briefed on 12 August.
Office tenants opt for renewals, maintain space amid savings
Two-thirds of respondents would stay in their current building.
Less Hong Kong SMEs find credit approval more difficult in Q2
But more SMEs now find securing debt “easier” as well.
Hong Kong banks expand fraud alert system to retail transactions
Customers will receive alerts for “high fraud risk” fund transfers, amongst others.
Cathay Pacific to expand flight offerings in Cambodia and Vietnam
Its low-cost carrier, HK Express, plans to launch a new route to Phu Quoc in Q4.
Visitor arrivals in June rise 14% YoY to 3.13 million
The MICE sector helped boost visitor arrivals.
The Arch Sun Tower properties, Whitesands House 23 in Lantau Island on sale via tender
The public tender will close on 23 September.
HKIA sets fees for insurance intermediary licences from September
It plans to use the fees for enhanced public education and training.
Retail sales value fall 9.7% YoY to $29.9b in June
The government attributed the decline to changing consumption patterns.
Financial constraints and skills shortage obstruct construction sector growth
Private and private non-residential workloads fell in Q2.
GDP increases 3.3% YoY in Q2, faster than Q1 growth
In Q1, the economy grew by 2.8% YoY.
HKIA rolls out smartphone express bag drop service
The service is available to all passengers in Hong Kong.
ZA Bank enables users to earn 8% p.a. Savings rate by walking daily
Users must complete fitness challenges in August.
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