Hong Kong

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.

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

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.

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

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.

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

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.

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.

Visitors to Hong Kong can now rent a room in someone’s home rather than a hotel room as couch surfing grows up.

The estimated figure of 35,400 flats refers to the housing land that can be supplied to the market for private residential developments within a certain timeframe.

The operating performance of Fubon Bank and its subsidiaries improved significantly, with full-year 2010 net profits of HK$266 million. The figure represents more than tenfold increase from the HK$23 million reported in 2009.

The HKTDC Hong Kong International Jewellery Show attracted a record number of 37,000 buyers in its five-day run at the Hong Kong Convention and Exhibition Centre.

Financial Secretary John Tsang says he believes the citizens support his revised Budget measures.

The government will submit a revised motion seeking a $60 billion interim funding allocation for initial expenditure.

A $2,386 million contract has been awarded for for upgrading the Stonecutters Island Sewage Treatment Works.

The Food and Environmental Hygiene Department raided an unlicensed food factory in Canton Road near Argyle Street in Mong Kok, Kowloon. It arrested two women, aged 30 and 41, and seized about 300 kilogrammes of food and some cooking paraphernalia. The two women are now assisting with investigations. The unlicensed food factory operated by distributing takeaway order fliers under a fictitious name in the street. Meal boxes would be delivered to customers after orders were placed by phone. Under the Food Business Regulation, the maximum penalty for operating an unlicensed food factory is a fine of $50,000 and six months' imprisonment. "We will continue to take stringent enforcement action against unlicensed food business to ensure food safety and protect public health," an FEHD spokesman said.