News

Gov’t deficit hits $183b 

The government took into account the proceeds of $20b received from the issuance of green bonds.   The government recorded a deficit of $183b in the first five months of the current financial year, taking into account the proceeds of $20b received from the issuance of green bonds.   There was a deficit because some major types of revenue like salaries and profits taxes are received towards the end of a financial year.    In the first five months, government expenditure was $319.2b, whilst revenue was $116.2b.
3 hours ago

Gov’t deficit hits $183b 

The government took into account the proceeds of $20b received from the issuance of green bonds.   The government recorded a deficit of $183b in the first five months of the current financial year, taking into account the proceeds of $20b received from the issuance of green bonds.   There was a deficit because some major types of revenue like salaries and profits taxes are received towards the end of a financial year.    In the first five months, government expenditure was $319.2b, whilst revenue was $116.2b.
3 hours ago

Gov’t to sell 3 residential sites in October-December quarter

The sites will provide about 2,500 units of flats.
3 hours ago

Retail sales value slightly dips by 0.1% YoY in August

The total value stood at $28.6b.
4 hours ago

Party time! Gov’t eases distancing measures in bars, clubs

The new measures will take effect on 6 October.
4 hours ago

Why prices of new launches from Aug-Sept were lower than secondary projects 

JLL said new projects were at an average discount of 10%.
3 days ago

Sustainability in the workplace: In which areas should companies do more?

Workers (27%) think that their company is lagging in their sector in terms of sustainability efforts.
3 days ago

Cathay Pacific elevates chatbot performance with AI training platform

The platform helps chatbots provide more accurate responses to travel inquiries.
3 days ago

How are Hong Kongers attitude change whilst living with COVID-19?

Some have an increased desire to travel whilst some are still concerned about health.
3 days ago

Hong Kong set to enable new tax measures

The measures aim to tighten rules under BEPS.
4 days ago

Hong Kong sets sights on innovation and technology

The government has set aside $10b to enrich the I&T ecosystem.
4 days ago

Quota for private cars crossing Hong Kong-Zhuhai-Macao bridge raised

Up to 500 private cars can now cross the bridge per month.
5 days ago

Hong Kong may see negative economic growth in 2022

This is due to the rising cost of capital and tightening monetary conditions amongst others. 
5 days ago

Reverse quarantine talks with Shenzhen 'progressing’: CE Lee

Officials are still discussing whether HK citizens will conduct pre-quarantine in the city or Shenzhen. 
5 days ago

Return of group tours, individual visit scheme may boost Macau recovery

But China's lockdowns strategy will counter overseas travel.
5 days ago

Basket of properties on Yen Chow Street sold for $100m

Bridgeway Prime Shop Fund and Owl Square Co-living acquired the properties.   Six retail shops and nine residential units at Kin Sun Building, Nos. 11-19 Yen Chow Street in West Kowloon were sold separately to two buyers for a total consideration of $100m, its marketing agent, JLL announced.   Bridgeway Prime Shop Fund acquired the retail shops for $70m, whilst Owl Square Co-living Founder Max Poon and AL Group Limited Chairman Laurence Chan got a hold of the residential units.   “All these six connecting corner shops with wide frontages are very rare in the area. With numerous residential redevelopment projects nearby, I am very optimistic about the price appreciation potential of this investment,” Edwin Lee, founder of Bridgeway Prime Shop Fund, said.   Accordion to Lee, the shops provide a passing yield of 3% and could achieve a yield of 5% when projects nearby the properties are completed.    Poon, for his part, said he will transform the nine residential units into “high quality and affordable living options for young professionals.”
6 days ago