Tuesday , January 22 2019
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Hong Kong

Hong kong Alliance Investigation Opens

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Hong Kong’s Competition Commission has opened an investigation into the newly formed ‘Hong Kong Seaport Alliance’ to assess whether it breaks fair competition rules. Announced on 9 January, the alliance between Hongkong International Terminals Limited, Modern Terminals Limited, COSCO-HIT Terminals (Hong Kong) Limited, and Asia Container Terminals Limited for the joint operation and management of 23 berths at Kwai Tsing ... Read More »

Hong Kong stocks gain in choppy trade ahead of China’s GDP


HONG KONG (Nikkei Markets) — Hong Kong shares moved higher in choppy trading on Thursday, with investors weighing prospects of policy easing in China against risks related to Britain’s exit from the European Union and Sino-American tensions. The benchmark Hang Seng Index opened lower before creeping higher as investors looked ahead to China’s gross domestic product data for the fourth ... Read More »

Customs says meat products from African swine-fever countries seized at Davao Airport


Meat products from countries with African swine flu infestation were among the agricultural products seized at Davao International Airport during the Christmas holidays, the Bureau of Customs said Thursday. The Customs bureau said in a statement the confiscated products brought in by various passengers arriving from different countries, including areas not necessarily having swine flu infestation, were oranges, chili, spring ... Read More »

HK$65 million in illicit goods seized by Hong Kong customs over festive season in anti-smuggling operation


Hong Kong : About HK$65 million (US$8.3 million) worth of illicit goods – ranging from cocaine to cigarettes – were confiscated with 147 people arrested as Hong Kong customs stepped up enforcement action at various control points during the festive season. The 18-day operation which ended on Wednesday targeted smuggling and other illegal activities at passenger and cargo channels such ... Read More »

2018, Hong Kong’s second-best year for property sales at US$93 billion


Hong Kong recorded its second-best year for property sales in 2018 on the back of a red hot first half, in which transactions worth HK$403.7 billion (US$51.5 billion) were reported. However, the market has cooled since August, when a 28-month bull run came to an end, with December recording a 58 per cent year-on-year drop in all property sales. A ... Read More »

Hong Kong ends tough year with gains after Trump hails trade progress

FILE PHOTO: The Hong Kong Exchanges flag, Chinese national flag and Hong Kong flag are hoisted outside the Hong Kong Stocks Exchange in Hong Kong June 7, 2016.  REUTERS/Bobby Yip/File Photo                               GLOBAL BUSINESS WEEK AHEAD.   SEARCH GLOBAL BUSINESS 22 JAN FOR ALL IMAGES

Hong Kong — Hong Kong ended a tough year on a positive note Monday, with the Hang Seng posting strong gains after US President Donald Trump hailed “big progress” on resolving Washington’s trade war with Beijing. In light holiday trading with Tokyo and Shanghai closed, stocks in the south China financial hub were buoyed by Trump’s upbeat assessment on prospects ... Read More »

Filipino guilty of having a large haul of illegal cigarettes


A 72-year-old man from the Philippines was given a suspended sentence in the Eastern Magistrate’s Court on Thursday after pleading guilty to having a large haul of illegal cigarettes. Hong Kong customs officers seized 29,160 untaxed cigarettes when the man’s home was raided in the city’s Quarry Bay district. The 72-year-old was found in possession of Marlboro, Hope, Fortune and ... Read More »

Hong Kong box volumes inch down in November


The port of Hong Kong saw its container throughput inched down in November compared to the year-ago level, according to statistics from the Hong Kong Marine Department. In November, box volumes at the main Kwai Tsing terminal were recorded at 1.33m teu, down 1.5% compared to 1.35m teu registered in the same month of last year. Non-Kwai Tsing terminal volumes ... Read More »

Hong Kong fears Trump will end special trading status

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Hong Kong business groups are starting to worry the Trump administration will open the door to ending the financial hub’s preferential trade status, rendering it “just another Chinese city” as its government gets closer to Beijing. The US-China Economic and Security Review Commission stoked fears last month with a recommendation that Congress reassess Hong Kong’s special trading status for some ... Read More »

Hong Kong Stocks sink on soft China economic data

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Headline shares of the Hong Kong financial market declined on Friday, 14 December 2018, as investors moved to secure gains following the lackluster cues from Wall Street overnight amid skepticism about a U. S.-China trade deal and weaker than expected economic data from China. In afternoon trades, the Hang Seng Index declined 398.64 points or 1.5% to 26,125.71. The Hang ... Read More »

Creating better cities: Hong Kong’s Business of Design Week 2018


Hong Kong’s Business of Design Week (BODW) is an annual five-day program of city events, satellite programs, award ceremonies and a summit, which this year featured 70 speakers from more than 15 countries. Taking place from December 3 to 8, the event, which is organized by Hong Kong Design Centre, co-organized by the Hong Kong Trade Centre and sponsored by ... Read More »

Hong Kong company raises $105 million to expand lending business


Hong Kong : A Hong Kong start-up called Oriente raised $105 million as it expands online lending operations in Southeast Asia and develops new products and technologies for markets like Indonesia and the Philippines. Oriente was founded in 2017 by Skype Inc. cofounder Geoffrey Prentice, former Lu.com Chief Operating Officer Hubert Tai, and Lawrence Chu, founder of BlackPine Group. It ... Read More »

HKTDC Hong Kong Toys & Games Fair Opens in January 2019


HONG KONG:Organised by the Hong Kong Trade Development Council (HKTDC), the 45th edition of Hong Kong Toys & Games Fair and the 10th edition of Hong Kong Baby Products Fair will be staged from 7-10 January 2019 at the Hong Kong Convention and Exhibition Centre. Featuring some 2,100 exhibitors, the Toys & Games Fair is the Asia’s largest event of ... Read More »

Young girl found dead in Hong Kong Customs and Excise Department staff quarters

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Hong Kong police were investigating whether foul play was involved in the death of a young girl found dead at home in the Customs and Excise Department’s staff quarters on Monday. Emergency services were called to the flat at Hong Lam Court on Siu Lek Yuen Road, Sha Tin, soon after 9am, when police got a call from the girl’s ... Read More »

Local man fined for not declaring 200 mobile phones at Hong Kong customs


Macau: A local man, surnamed Chen and aged 59 years of age, was fined for carrying 200 old mobile phones of the same model when trying to enter Hong Kong customs at the Hong Kong-Macau Ferry Terminal on the evening on November 15. According to a release from Macau Customs Service, the man had entered the green lane signifying he ... Read More »

Hong Kong: Stocks up in early trade on Thursday

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HONG KONG: Hong Kong stocks rose modestly in early trade on Thursday, tracking a global equities bounce as the US technology sector ended a two-day hammering. The Hang Seng Index gained 0.16 per cent, or 41.14 points, to 25,983.74. The benchmark Shanghai Composite Index added 0.17 per cent, or 4.39 points, to 2,655.90, while the Shenzhen Composite Index, which tracks ... Read More »

Hong Kong, Shanghai: Stocks open lower on Wednesday


HONG KONG:Hong Kong stocks fell in the first few minutes of trade Wednesday as energy firms suffered further heavy losses from another plunge in oil prices. The Hang Seng Index eased 0.21 per cent, or 53.93 points, to 25,738.94. The benchmark Shanghai Composite Index was down 0.25 per cent, or 6.57 points, at 2,648.31, while the Shenzhen Composite Index, which ... Read More »

Hong Kong: Stocks edge up on open on Monday


HONG KONG:Hong Kong shares edged upwards in the first few minutes of trading on Monday, after ending last week with sharp losses. The Hang Seng Index was up 0.42 per cent, or 106.66 points, at 25,708.58 in early trade. The benchmark Shanghai Composite Index opened 0.22 per cent lower, or 5.67 points, at 2,593.20. And the Shenzhen Composite Index, which ... Read More »

Bosch equips Hong Kong-Zhuhai-Macao Bridge with customized security solutions


Shanghai – The Hong Kong-Zhuhai-Macao Bridge relies on customized security solutions from Bosch to ensure safe operations. The world’s largest sea-crossing bridge was opened by Chinese officials late October 2018. Spanning 55 kilometers in length, the Hong Kong-Zhuhai-Macao Bridge directly connects Hong Kong to Macao and then to the Chinese city of Zhuhai for the first time. At a total ... Read More »

Li Ka-shing’s CK Asset swoops on UK developer CapCo’s troubled London luxury housing project

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Hong kong : CK Asset Holdings is in preliminary talks to buy most of Capital & Counties Properties’ Earls Court project, a sign of investors’ faith in the long-term prospects of London’s luxury-housing market. The Hong Kong company founded by billionaire Li Ka-shing wants to buy about 90 per cent of the West London site, CapCo said on Monday, confirming ... Read More »