Hong Kong

GNP up 6.9% in 4Q 2010

GNP up 6.9% in 4Q 2010

Hong Kong's Gross National Product grew to $477.2 billion, while GDP rose 8.1% to $477.7 billion.

Exchange Fund foreign assets grew to $2.09tn in February 2011

An increase of $53.1 billion was seen on the previous month.

Air Pacific Fiji launched third direct service to Nadi

The current flight schedule operates Mondays, Thursday and Saturdays, said Air Pacific.

Hong Kong to check Japan food imports for radiation

Hong Kong does not depend largely on Japan for its food supply, said Secretary for Food & Health Dr York Chow.

Japan quake brings HK stocks down 1.55%

The strong earthquake hit Japan, which prompted tsunami warnings, caused investor to be jittery that led to Hong Kong shares ending 1.55 percent lower on Friday.

Construction Industry urges developers to enhance working environment

The industry has found it difficult to attract young people to join the industry.

Lawmakers reject $60bn interim funding allocation

Hong Kong people are disappointed as it could have many negative implications.

Julius Baer launches expanded RMB product range

The bank can now offer RMB conversion services, current and fixed deposit accounts, RMB-denominated unit trusts, currency linked investments and bonds.

Hong Kong stocks down 0.82%

Commodity and financial firms led the decline as Hong Kong shares ended 0.82 percent lower on Thursday.

Chai Wan tenants have 18 months to vacate

The Housing Authority's  Commercial Properties Committee approved a plan to clear the Chai Wan Factory Estate and provide an ex-gratia allowance and other arrangements for the affected tenants. All arrangements will be the same as those for clearance of other old factory estates in the past.

China Rongsheng profit up 32.0% to RMB1.72bn

The company targets expansion as it strengthens its leadership in shipbuilding industry while actively develops offshore engineering market.

Singamas profit back to green at US$92.54mn

The company has set up new factories in Nantong City to capture the region’s rising container demand as container prices are expected to rise in 2011.

Cathay Pacific to add 27 more aircraft to fleet

The HK$51bn fleet expansion deal with Airbus S.A.S. and Boeing aims to make its fleet, advanced, highly efficient and environmentally friendly.

Munich Re achieves target profit for FY2010

Despite very low interest rates, Munich Re's 13.5 per cent return on risk-adjusted capital came very close to their target of 15 per cent.

It’s time to end the HK$ peg

The peg is doing more harm than good and many believe it’s time for it to go.

Revisions in budget proposals will turn surplus to deficit of $12bn

Revised budget proposals of giving $6,000 cash handouts and 75% salary tax rebates would mean a $40 billion stimulus package to consumption and growth.

Distressed Asian debt hard to find

The great credit crunch of 2009 has passed and unfortunately for distressed debt traders, there is little in the way of bad debt to be traded in Asia.