Hong Kong
Kai Tak site sold for $12.74b in cheapest land sale in three years
Kai Tak site sold for $12.74b in cheapest land sale in three years
A joint venture led by Wheelock Properties and COLI bought the site.
Look out, Starbucks: WeWork to launch charge-by-minute service
WeWork Go users need only scan a QR code upon arrival to start working.
How can local brands tug at Hong Kong consumers' heartstrings?
Only 7% of locals will choose homegrown brands over global ones, a study found. More people across the world have been putting their money to their homecourt with 56% saying that they trust local brands more than global brands in 2018, according to a study by advertising giant McCann. In APAC alone, local brand believers are a bit higher than the global average at 59%.
4,800 private flats completed in Q2
About 93,000 flats will be available in the next three to four years.
Hang Seng Bank adds forex functionality to AI-powered chatbot
Users can request data on current rates and detect nearby FX ATMs.
The most significant tax reform in China
The new Individual Income Tax Law, which came into force in China on 1st January 2019 (“New Tax Law”), is a strong response to the strong criticism and social discontent under the previous legislation.
Skyrocketing rents hit Hong Kong retailers hard
Retailers are burdened by leasing costs as high as $20,864 annually.
Home sales crashed 44% to 4,627 in May amidst launch drought
A property at Mount Nicholson on the Peak changed hands for $916m.
Grade A office net absorption slumps to 139,500 sqft in June
Rents also fell 0.3% MoM to accelerate space backfilling.
Less Hong Kongers expecting home prices to rise
The number of respondents forecasting home prices to grow fell to 36% from 42%.
Inflation hits 3.3% in June
Surging pork prices drove inflation levels up.
Firms expect business situation to worsen in Q3: survey
Retail, accommodation and food services, and real estate sectors are bracing for the worse.
Cathay Pacific acquires Hong Kong Express Airways
HK Express will reportedly remain a low-cost carrier.
Jobless rate unchanged at 2.8% in Q2
About 1,600 workers joined the labour force.
Asian flight bookings to Hong Kong fell 5.4%
Recent protests deterred would-be visitors from other Asian markets.
Luxury apartment transactions fell by 24.8% in Q2
Residential demand may pull-back over the next three to six months.
Secondary listings by Mainland firms to weigh on liquidity
Large IPOs in the pipeline and reduced aggregate balance still make liquidity conditions volatile.
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