Hong Kong

Spiking rental for commercial spaces in HK has recently raised the question mark on the continued attractiveness of HK as the destination for Asia setup.

Patrice Conxicoeur and Julie Koo are appointed as Global Head of Isurance Coverage and Head of Institutional Business, Asia Pacific, respectively.

The fare hike is due to the Fare Adjustment Mechanism which is linked to the y-o-y percentage changes in the Composite inflation and Nominal Wage Index for transportation.

This is equivalent to 9.9 per cent of the value of imports of goods.

In this new role, Lee will be reponsible for overall client experience.

Radiation levels in Hong Kong's air and drinking water remain normal.

Further development and more offering of investment products are expected in Hong Kong.

Hong Kong will prohibit imports of Japanese food from five prefectures in Japan. They are Fukushima, Ibaraki, Tochigi, Gunma and Chiba.

Its claims payments for the devastating earthquake and tsunami in Japan will total some EUR1.5 billion.

Japanese products constitute only a small portion of Hong Kong's food imports.

Hong Kong-based finance professionals received an average bonus increase of 25% for 2010 compared with the previous year but 33% are dissatisfied with their 2010 bonuses.

The move may be seen by existing employees as a sign of positive culture.

Investors and tourists of both parties to pay lower taxes and transport fees under the pact.

Visible trade deficit rises to $88.9bn in fourth quarter 2010 as imports of goods increasing faster than exports.

Economists see inflationary pressure to further increase in the coming months as global food and commodity prices remain elevated.

Last year, Hong Kong average hotel room rates rose by 33% or $929, compared to a 2% global average.