Hong Kong
Retail outlook still challenged despite 20.1% rise in March sales
Retail outlook still challenged despite 20.1% rise in March sales
The value of total retail sales amounted to $27.6b during March of 2021.
Private Swiss bank buys BMO private bank in Hong Kong and Singapore.
The J Safra Sarasin Group completed the acquisition of the Bank of Montreal’s Private Banking Business.
Fewer SMEs now struggle in securing bank credit: survey
A total of 30% of SMEs perceived more difficult credit approval, down from 35% previously.
Luxury property market rebounds 0.8% in Q1 after 2020 drop
This followed the luxury residential market’s 8.2% decline last year.
IBI Group expects up to $56m profit
The Group’s preliminary estimates saw an increase in profit of between $51.9m and $56.2m.
Automation threatens 56% of the Hong Kong workforce
Fears over automation putting jobs at risk remains prominent amongst Hong Kongers.
Economy rebounds 7.8% after six quarters of contraction
The GDP growth during the first quarter was linked to Hong Kong's stronger external trade.
Mortgage loans leapt to $53b in March
Banks received nearly 18,000 applications during the month.
Hong Kong's loan-to-deposit ratio rises to 83.3% in March
A gradual rise in loan demand is being seen as the economy begins to recover, OCBC has said.
Government records $232b fiscal deficit
Fiscal reserves, meanwhile, stood at $927.8b, as of 31 March.
Ready-to-drink tea sales dominated by major brands: Nielsen
Nielsen sees a similar trend emerging in key categories such as shampoo and chocolate confectionary.
Around 42% of consumers grapple to pay bills on time
Financial pressure amongst Hongkongers remains intense, following several waves of the COVID-19 outbreak.
BOC Hong Kong's operating income climbs 16% to $13.42b in Q1
The Q1 performance, however, was lower by 9.8% year-on-year.
Hong Kong jeweller Tse Sui Luen sees $40m net loss
The company said the pandemic continues to affect its operations.
Hong Kong bans flights from “extremely high risk” Nepal
Suspension of flights from India, Pakistan and the Philippines have also been extended.
Four in 10 Hong Kongers received salary increases in 2020
Most of these saw their salaries rise by between 3% and 5%.
Government sees “strong GDP growth” in first quarter
This comes after Hong Kong’s economy contracted 6.1% over the course of 2020.
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