Hong Kong

Private hospitals not to expand maternity services

Private hospitals not to expand maternity services

Private hospitals have agreed not to expand their maternity services in the short term.

Financial secretary warns of property bubble

Tsang is cautious of the surge in overall property prices in February that surpassed the 1997 peak as he pledged to observe developments in the property market.

3 residential sites set for auction

Auction for residential sites on Stubbs Road, Begonia Road and in Ngau Tam Mei to take place on May 12 at Queen Elizabeth Stadium.

Expense limit for CE election raised to $13mn

The proposal takes into account the 12.8% inflation adjustment since the limit was set back in 2001.

MPFA obtains payment for outstanding MPF contributions

The MPFA today obtained an order for payment of outstanding MPF contributions of $456,362.74 against an employer at the District Court.

Employer fined $173,000 for breaching MPFS Ordinance

Good Faith Security Management was fined $173,000 at the Kwun Tong Magistracy after being convicted of offences under the Mandatory Provident Fund Schemes Ordinance.

Golden Resorts acquires Kingston Financial Group

The group expands financial operations to consolidate its position as leading Chinese financial group, operating in China, Hong Kong and Taiwan.

Xinyi opens solar glass production line in Tianjin

The glass maker expands northern China market focusing on float glass and solar glass.

Pacific Andes’ operations unaffected by Japan radiation leakage

The group has not sourced any materials and products from Japan in the past three months.

Hong Kong and China join forces to boost IT collaboration

Under the National 12th Five-Year Plan will also explore further collaboration between the laboratories of Mainland and Hong Kong approved under the Partner State Key Laboratory Programme.

IMAGI completes acquisition of Toon Express Group

The deal further promotes popularity of its animation brands through new commercial arrangements

Contract staff will be given paid rest days

Companies tendering for government service contracts must comply with the statuory minimum wage rate, and include one paid rest day a week.

Dragonair releases updated Japan flight schedules

The carrier to operate five weekly flights to and from Hong Kong and Fukuoka, while its twice-weekly Okinawa service to resume on 3 July.

Fortune REIT refinances its HK$3.8bn current loan facilities

The company enhanced its new facilities will bear a 0.91% per annum interest margin and will mature on 11 April 2016.

Overall business payment performance in Hong Kong improves

Yet future uncertainties brought about by geopolitical tensions in the Middle East and repercussions from Japan earthquake may bring down overall confidence in buyers’ payment ability.

Hong Kong still the world’s costliest place in prime office rental

Widening gap between the first and second highest office occupancy costs seen as prices continue to soar.

HKMA warns rapid credit growth unsustainable

The agency plans to boost monitoring of the business plans and funding strategies of authorised institutions as banks’ HK dollar loan-to-deposit ratio rose from 71% to 78%.