Staff Reporter

Banks see steady growth in 2024 amidst global uncertainty

Cost management, risk vigilance, and digital innovation give resilience to the industry.

PAObank extends 16% rate promo on HKD time deposits to July 31

The first HK$50,000 time deposit will enjoy the promo rate.

Retail sales rebound in May on improved consumption market

Total retail sales value increased by 2.4% year-on-year to $31.3 billionThe value of total retail sales in May 2025 is estimated at $31.3 billion, a 2.4% increase year-on-year(YoY) according to the Census and Statistics Department (C&SD).The figure improved from the 2.3% YoY drop in April. For the first five months combined, the value of total retail sales decreased by 4% YoY.

Southbound Travel Scheme to be launched to promote transport

Hong Kong will embrace Mainland cars in November.

Chief Executive names new Under Secretary for Health

Cecilia Fan will succeed Libby Lee in the post.

Resolution Life seals first Hong Kong reinsurance deal worth $1b

The deal covers a portfolio of in-force participating whole life and annuity policies.

Howden Re launches reinsurance broking unit in Hong Kong

A managing director has been appointed to lead the treaty reinsurance operations.

Prudential adds former Swiss Re CIO Guido Fürer to board

Meanwhile, Amy Yip will step down from the Board on 31 October.

Victoria Harbour view waterfront hotel up for sale

The 30-storey hotel has a gross floor area of 36,873 square feet.

Emperor flags $16.6b in overdue or breached loans

The group is currently in negotiations with banks to secure revised terms.

Gov’t requires vessel operators to pass medical examination

The medical requirement has two categories for affected operators.

HKICPA, ACCA renew Mutual Recognition Agreement

Both sides further enhanced connection by expanding professional development opportunities.Hong Kong Institute of Certified Public Accountants (HKICPA) renewed its Mutual Recognition Agreement (MRA) with the Association of Chartered Certified Accountants (ACCA) on 27 June.

Star Entertainment’s JV partners move to terminate DBC exit deal

The group said it is still open for further negotiations with its JV partners.

I Squared Asia scraps plans to acquire HKBN Ltd

HKBN also ended the offer period in relation to I Squared Asia’s offer.