News

Prada aims to raise HK$20.22bn in Hong Kong IPO

Prada aims to raise HK$20.22bn in Hong Kong IPO

The luxury goods company taps China market, which is seen to be the world’s third-biggest market for luxury goods in 5 years.

HKMEx to offer automated trading services through Equinix

The first contract will be a 1 kilo gold futures contract providing physical delivery in Hong Kong.

Number of sale-purchase agreements in May up 20.7%

The number of searches of land registers made by the public in May was 498,692, up 0.7% on same time last year.

Lenders to incorporate chip-based technology in their ATMs

The technology enhances security of ATM transactions as fraudsters would have difficulty in card replication.

Hong Kong admits 1,486 through quality migrant scheme

More than three-fourths of the approved applicants are Chinese.

Hong Kong strictly monitors quality tourism scheme

Non-accredited merchants found to be displaying the QTS sign to receive warning letters from the Tourism Board to demand the immediate removal of sign.

Lenovo to take over Medion AG

Deal to merge major PC Company with major European PC, multimedia products and digital services vendor to accelerate consumer business growth in Europe.

Retail Asia Expo 2011 to kick off 14 June

Hong Kong Convention and Exhibition Centre will host event to unite players in the US$5.4tn sector.

Cathay Pacific pitches for 3rd runway at Hong Kong International Airport

The carrier boosts Hong Kong’s hub role as it invests in new HK$5.5bn cargo terminal and 87 new aircraft worth HK$180bn.

Hong Kong’s first quarter total gross premiums up 13.3%

Yet Hong Kong insurance industry’s overall underwriting profit declined from $559mn to $482mn.

HK yuan deposits rise 13.1% in April

Yuan deposits in Hong Kong jumped to $79 billion.

Hong Kong total retail sales in April up 27.7%

Robust local consumption demand and lively tourist spending pushed value of total retail sales up to $32bn.

March renminbi deposits in Hong Kong up 13%

Deposits in the currency climbed to 510.7bn renminbi while the Hong Kong-dollar loan-to-deposit ratio declined to 80.4% from 81.7%.

Hong Kong April exchange fund gains $38.5bn

Valuation gains on foreign currency investments and an increase in certificates of indebtedness boosted Hong Kong’s foreign currency assets.

Sun Holdings plans $1bln IPO in Hong Kong

Proceeds would be used to expand Sun's hypermarket chain in China.

Labour Department conducts on-site checks

Officials doing workplace inspections also remind employees to take note of their terms and the $28 minimum wage.

Hong Kong’s April tourist arrivals up 20%

Though battered by the March 11 earthquake and its aftermath, the decline in arrivals from Japan was less than 1%, as business travel remained unchanged.