Noreen Jazul
Gov’t deficit hits $183b
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.
Gov’t to sell 3 residential sites in October-December quarter
The sites will provide about 2,500 units of flats.
Retail sales value slightly dips by 0.1% YoY in August
The total value stood at $28.6b.
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The new measures will take effect on 6 October.
How financial institutions can overcome the towering demand for ESG roles
Data from portal Indeed showed that ESG job offers in Hong Kong soared 442% in 2022.
Why prices of new launches from Aug-Sept were lower than secondary projects
JLL said new projects were at an average discount of 10%.
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.
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What can push investors to increase their sustainable investments?
Investors have 24% of their portfolios allocated to sustainable funds.
Reverse quarantine talks with Shenzhen 'progressing’: CE Lee
Officials are still discussing whether HK citizens will conduct pre-quarantine in the city or Shenzhen.
Hong Kong is the 5th most competitive market in the world
In Asia-Pacific, it ranked second.
3 motivations pushing the wealthy to sustainable investments
About 23% of investors have more than 15% of sustainable investments in their portfolio.
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.”
External merchandise trade value dips double digits in August
Values of exports and imports of goods fell by 14.3% YoY and 16.3% YoY, respectively.
How will the 0+3 arrangement affect HK's industries?
The leasing market expects a pickup in activities.
Lands department to put up site in Kwai Chung for sale
It will be sold by public tender.
Gov’t rolls out new arrival rules for foreign domestic helpers
They will no longer be required to undergo quarantine in designated hotels.
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