Hong Kong

HK government vows to support tourism

HK government vows to support tourism

Hong Kong is committed to tourism development and will invest in new facilities, attractions and tourism infrastructure.

Flat sales fall 16%

The number of sale and purchase agreements for all building units in Hong Kong's Land Registry in January was 9,917. It is down 15.9% from December, and 19.9% year on year.   The total consideration of sale and purchase agreements was $59.1 billion, up 10.6 per cent from December and 32.1 per cent on January last year.   Of the agreements, 8,002 were for residential units, down 14.2 per cent from December and 24.9 per cent on January last year.   The total consideration for sale and purchase agreements in respect of residential units was $33.3 billion, down 16.5 per cent from December and 7.8 per cent from January last year.   The 12-month moving average for January was 13,356, which was 1.5 per cent below the 12-month moving average for December, but 14 per cent above that for January last year.   The number of searches of land registers made by the public was 502,271, up 10.5 per cent compared with December and 1.7 per cent on January last year.

Exchange Fund assets drop $45.7B

Total assets of the Exchange Fund amounted to $2.3457 trillion at the end of December, down $45.7 billion on November.  

Facebook opens advertising office in Hong Kong

Facebook announced Tuesday the opening of its Hong Kong sale office. It will provide support for brands, agencies and companies in Hong Kong and Taiwan.  

Richard Dawson joins KPMG as Asia's Head of Debt Advisory

Richard will be based in Hong Kong as he builds a team to establish and grow the debt advisory business in China and Hong Kong.

2 pre-sale consents issued in January 2011

One pre-sale consent is for a residential development and one for commercial.

Yuan deposits to occupy 22.5% of total deposits by 2015

Hong Kong is set to become the first and largest recipient of CNY denominated ODI flows.

Midas wins 82mn renminbi high speed train deal

Midas to supply aluminium alloy extrusion profiles, including certain fabricated parts, for 30 train sets to CNR Changchun.

SHL and PreVisor join forces to create talent assessment solutions

SHL appoints Stuart Hedley VP Professional Services to cover China, Hong Kong and Singapore.

Hong Kong PMI jumps to 55.2 in January 2011

The current reading is an improvement from the 55.0 posted in December 2010.

Dragonair workforce expansion underway

A walk-in interview session is being offered by Dragonair to look for new qualified cabin crew.

Pacific Andes Resources Development first quarter profit up 11.2% to HK$167.4mn

The net profit of China Fishery, another subsidiary of Pacific Andes, also grew 7.9% to HK$153.7mn.

Is Hong Kong ready for competition law?

The Hong Kong Government published last summer the long awaited Competition Bill which is intended to introduce a general competition law in Hong Kong.

Ship mortgage: Right of sale upon non-financial covenant default

The rights of both the bank and borrower when it comes to non-financial covenant default will not remain a question anymore.

Benchmark seen soaring to 28,900

The Hong Kong benchmark may jump as much as 23 percent to hit 28,900 this year. This is fueled by the banking and property sectors, according to the Credit Suisse Securities.

Bank loans overshoot January target

New bank loans in the mainland during January hit US$182.89 billion, which overshot the central bank's cut-off target by at least 20 percent.

Crazy Hong Kong office rents skyrocketed 33% in 2010

Hong Kong registered the highest annual office rents growth in Asia Pacific outranking Beijing, Singapore and Shanghai.