News

Foreign assets of the Exchange Fund's shrank by $5.6 billion from February to $2.0869 trillion in March, according to the Monetary Authority.

The proposal was passed by 34 votes, with 11 abstentions and none opposed.

Tsang is cautious of the surge in overall property prices in February that surpassed the 1997 peak as he pledged to observe developments in the property market.

The proposal takes into account the 12.8% inflation adjustment since the limit was set back in 2001.

Companies tendering for government service contracts must comply with the statuory minimum wage rate, and include one paid rest day a week.

Yet future uncertainties brought about by geopolitical tensions in the Middle East and repercussions from Japan earthquake may bring down overall confidence in buyers’ payment ability.

The agency plans to boost monitoring of the business plans and funding strategies of authorised institutions as banks’ HK dollar loan-to-deposit ratio rose from 71% to 78%.

Secretary for Food & Health Dr. York Chow says the Hospital Authority plans to recruit about 330 doctors in the current fiscal year.

Private cars are a less efficient mode of transport, said the Transport & Housing Bureau.

The foundation stone laying ceremony for the Cruise Terminal Building at Kai Tak today, which will berth the largest cruise vessels in the world, was officiated by Chief Executive Donald Tsang. He was joined by Acting Secretary for Commerce & Economic Development Gregory So and Secretary for Development Carrie Lam.   The Government funded its design and construction. The terminal and first berth will open in mid-2013 and will be leased for management and operation. The second berth will be commissioned in 2014 after dredging works on the seabed are completed.   The terminal will feature environmentally friendly facilities to provide world-class services to passengers, with a commercial area of 5,600 square metres and a landscaped deck with open space for public enjoyment.  

Retail sales value grew to 18.8% in the first two months, which was strong by any measures.

The Monetary Authority of the world’s 10th largest holder of foreign currency reserves said there were no unsettled forward contracts at the end of March and February.

The department had 20 applications for pre-sale consent for uncompleted residential units and 4 for uncompleted commercial developments at the end of March..

The FMCG, retail and luxury are the most active employers within the commerce and industy.

No observable change was found in the radioactivity level of water samples.

Legislative proposals have been raised to improve the regulation of sales and marketing activities of MPF intermediaries.