Hong Kong
Retail sales rebound in May on improved consumption market
Retail sales rebound in May on improved consumption market
Total retail sales value increased by 2.4% year-on-year to $31.3 billionThe value of total retail sales in May 2025 is estimated at $31.3 billion, a 2.4% increase year-on-year(YoY) according to the Census and Statistics Department (C&SD).The figure improved from the 2.3% YoY drop in April. For the first five months combined, the value of total retail sales decreased by 4% YoY.
Southbound Travel Scheme to be launched to promote transport
Hong Kong will embrace Mainland cars in November.
Chief Executive names new Under Secretary for Health
Cecilia Fan will succeed Libby Lee in the post.
Resolution Life seals first Hong Kong reinsurance deal worth $1b
The deal covers a portfolio of in-force participating whole life and annuity policies.
Howden Re launches reinsurance broking unit in Hong Kong
A managing director has been appointed to lead the treaty reinsurance operations.
Prudential adds former Swiss Re CIO Guido Fürer to board
Meanwhile, Amy Yip will step down from the Board on 31 October.
Tougher foreign hiring rules may strain workforce planning
Hong Kong’s catering industry is expected to be hit the hardest.
Victoria Harbour view waterfront hotel up for sale
The 30-storey hotel has a gross floor area of 36,873 square feet.
Thai coconut water maker IFBH Limited makes Hong Kong IPO debut
It raised $1.16b.
Emperor flags $16.6b in overdue or breached loans
The group is currently in negotiations with banks to secure revised terms.
Gov’t requires vessel operators to pass medical examination
The medical requirement has two categories for affected operators.
HKICPA, ACCA renew Mutual Recognition Agreement
Both sides further enhanced connection by expanding professional development opportunities.Hong Kong Institute of Certified Public Accountants (HKICPA) renewed its Mutual Recognition Agreement (MRA) with the Association of Chartered Certified Accountants (ACCA) on 27 June.
Official taxi fleet licenses to be issued
Five taxi fleet drivers can access 80 sites after receiving their license in July.
Star Entertainment’s JV partners move to terminate DBC exit deal
The group said it is still open for further negotiations with its JV partners.
I Squared Asia scraps plans to acquire HKBN Ltd
HKBN also ended the offer period in relation to I Squared Asia’s offer.
Highways Department signs deal for Hong Kong-Shenzhen rail link
The project is expected to go to tender in 2027.
Critical infrastructure cybersecurity law to take effect 1 January 2026
The notice goes to LegCo for negative vetting on 2 July.
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