News

The Lands Department has announced the resumption of land for the implementation of a preservation and revitalisation project on Shanghai and Argyle Streets in Mong Kok.

Swedish retail clothing company H & M Hennes & Mauritz AB will shutter its flagship store in Hong Kong due to an increase in rent.

Retail sales in Hong Kong are projected to fall for the rest of the year following an 11% increase in value in June.

Standard Chartered PLC falls a single percent short of its pretax profit target for the first-half of this year.

Loans inched forward at the tepid pace of 1.5% in the second quarter reflecting the economic slowdown gripping Hong Kong.

The Eurozone’s enduring financial malaise forced an 8.4% drop in the net income of HSBC Holdings Plc.

A growth in lending income propels profits of Hang Seng Bank Ltd by 14%.

Renminbi services will be available to them from August 1.

Shareholders of the London Metal Exchange have approved their company’s takeover by the Hong Kong Exchanges & Clearing Ltd.

Rents for luxury homes are expected to fall again by 4.2% in the second half of the year after plunging 7.5% in the first half.

The government expects a further easing of the inflation rate in the coming months due to the difficult external economic environment and lower import prices.

The volume of Hong Kong's goods re-exports fell 3.3% while that of domestic exports fell 24%.

Commissioner of Insurance Annie Choi said the renminbi business is among the growth engines for Hong Kong’s insurance industry.

Hong Kong expects close to 550 homes will be built in new residential sites.

Hong Kong residents are visiting the Mainland mostly on business and spent some $35.6 billion there in 2011.

Societe Generale S.A. has agreed to pay US$11 million to Hong Kong customers mislead by a hidden commission fee.