Hong Kong

Switzerland is opening a new business promotion office in Hong Kong to help its small and medium enterprises do business in the city and on the mainland.

Shanghai Fosun Pharmaceutical (Group) Company said it could raise up to US$591 million in its coming Hong Kong IPO.

Developers cleared only 116 units this past weekend, says Nomura.

HK home prices are now 8% higher than the 1997 peak.

The extension may yield 40,000-50,000 home units.

The expectation is 10 to 20 percent in two to three years.

The proposal will be talked about at the Legislative Council meeting on 17 October 2012.

The site is estimated to cost up to HK$1.9 billion.

Blame it on the spike in overseas investment by Asian multinationals.

Sales at City Chain and Optical 88 increased 13% and 12% respectively.

DMG expecs the sales will generate HKD75m in gross profit in FY12F.

Demand for small domestic appliances incrased 14% this year.

The website www.schmailhk.com looks similar to Shanghai Commercial Bank's online portal.

Total land premium is worth around $5.87 billion.

Sec Anthony Cheung said they will also review housing priorities.

Taiwan will not threaten Hong Kong as the top destination for mainland Chinese tourists unless deep structural reforms are made.