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Hong Kong

Hong Kong teenager ‘posted 3kg of cannabis’ to himself from New York

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A 19-year-old man has been arrested after a parcel containing HK$570,000 (S$100,208) worth of cannabis was airmailed to his Hong Kong home from the United States. The haul was detected at Hong Kong International Airport on Monday after customs officers selected a parcel bound for the suspect’s public housing accommodation in Chai Wan from New York for a routine inspection. ... Read More »

Sniffer drones to patrol world’s busiest ports

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Teams of drones are about to start policing the skies of some of the world’s busiest shipping ports. Their target? Environmental rule-breakers. It might sound — and look — like something out of a Marvel Avengers movie, but for many ports around the world, these so-called sniffer drones are the best way to enforce new regulations aimed at cutting the ... Read More »

Sniffer drones will start patrolling the world’s busiest shipping ports

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Teams of drones are about to start policing the skies of some of the world’s busiest shipping ports. Their target? Environmental rule-breakers. It might sound – and look – like something out of a Marvel Avengers movie, but for many ports around the world, these so-called sniffer drones are the best way to enforce new regulations aimed at cutting the ... Read More »

Extended US-China trade war may see Hong Kong employers hold back on hiring

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Hong Kong’s strong employment market could take a hit from an extended US-China trade war, headhunters said, as companies watch carefully for any effects stemming from a new round of tariffs implemented last week. Manufacturing, freight, and re-export businesses are likely to bear the brunt if the two nations are unable to reach a truce, but technology and financial services ... Read More »

US-China trade war and Brexit casting shadow over Hong Kong economy

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Hong Kong’s economic future is in limbo and dependent on US-China trade war negotiations, the government has said after the city’s GDP growth was revised to 0.6 per cent in the first quarter. The gross domestic product figure – the slowest quarterly increase in a decade – was adjusted based on revised data published by Census and Statistics Department, following ... Read More »

Hong Kong Customs finds contraband hidden in fake electrical casings

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Authorities in Hong Kong have uncovered the latest tactic by smugglers bringing in untaxed cigarettes from mainland China, after HK$2.1 million (US$267,500) worth of the contraband items were found hidden in 45 fake electrical casings. The haul with a duty potential of HK$1.5 million was seized at Shenzhen Bay Control Point on Thursday when customs officers intercepted a lorry from ... Read More »

Irish entrepreneurs on unofficial trade mission to Hong Kong

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More than 100 leading entrepreneurs have travelled to Hong Kong as part of the largest unofficial trade mission from this country, under the umbrella of the annual EY Entrepreneur of the Year (EoY) chief executives’ retreat. This includes the 24 finalists for this year’s EoY awards and alumni from previous years. Between them, this year’s finalists employee more than 13,000 ... Read More »

Hong Kong regulator to axe ‘execution-only’ business

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Hong Kong’s upcoming regulatory change requiring the classification of all products sold. The move comes as the emergence of online trading by HNWIs (high-net-worth individuals) has led to a gap in the accountability of the sales process. Effectively, disclaimers and checkboxes ubiquitous in the financial world online allow false or partial “reverse inquiry” transactions (also commonly referred to as “execution-only”) ... Read More »

Hong Kong investors fear HK$30 million lost over online claw machine business

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At least 100 people who invested HK$30 million (US$3.8 million) in a novel online claw machine business fear their money has gone down the drain after their expected monthly returns of HK$10,000 per unit turned out to be just HK$10. Claw machines are arcade games where players manoeuvre pincers to grab toys and other prizes. The group sought the Democratic ... Read More »

Hong Kong police and customs get new US$21.5 million sea weapon to fight smugglers

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Hong Kong authorities will soon be equipped with a new HK$169 million (US$21.5 million) weapon to fight seaborne crime in the city’s waters. The arrival of the first of 12 fast-pursuit craft follows a 177 per cent surge in the amount of contraband seized from maritime smugglers last year. The value of the new boats is HK$22 million higher than ... Read More »

Hong Kong’s China extradition plan could violate key US trade act provisions

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Hong Kong’s proposed extradition law amendments could violate key provisions of the United States-Hong Kong Policy Act of 1992, which affords the city privileges in economic and trade matters relating to the US, according to a report from a Washington congressional committee. The rules allow Hong Kong to be treated as a separate territory to mainland China. Tuesday’s report from ... Read More »

Iran-Hong Kong annual trade at $344m

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TEHRAN:The trade of non-oil goods between Iran and Hong Kong reached 94,242 tons worth $344.08 million during the last fiscal year (ended March 20), according to the data released by the Islamic Republic of Iran Customs Administration. According to the report, the figure shows a 32.51% and 29.88% decline in volume and value respectively compared with the year before (March ... Read More »

Customs finds ‘largest ecstasy haul in 10 years’

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Hong Kong customs arrested two people in recent days for alleged drug trafficking after suspected ketamine and ecstasy was found in air parcels. Customs officers seized about two kilograms of suspected ketamine and about 7,000 tablets of ecstasy with an estimated market value of about HK$1.9 million (over US$242,000) at Hong Kong International Airport on March 16 and March 22 ... Read More »

Hong Kong: business must pay heed to the erosion of freedoms

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The popular myth about boiling a frog — that the animal will jump out of the pot if placed in boiling water but die when plonked in cold water and gradually cooked — should be recalled by anyone involved in politics, business or the law in Asia today. In most cases, freedom and the rule of law are being eroded ... Read More »

Hong Kong customs seize another HK$80 million worth of cocaine

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Hong Kong customs have seized another HK$80 million (US$10.2 million) worth of cocaine, taking their total haul of the drug in April alone to 421kg, valued at about HK$420 million, as officers battle an international syndicate that has joined forces with local gangs to expand the Asian market, a source says. The latest raid, in Tai Kok Tsui on Monday ... Read More »

Shipping firm APL, captain fined in Hong Kong over transport of SAF Terrex vehicles

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HONG KONG: Shipping firm APL and a vessel captain were fined a total of HK$99,000 (US$12,600) on Monday (Apr 29) for transporting nine Singapore Armed Forces (SAF) Terrex vehicles into Hong Kong without a proper licence in 2016. Chinese national Pan Xuejun, the vessel’s captain, and APL were jointly charged and convicted of importing and exporting strategic commodities without a ... Read More »

Customs uncovers P60-M sugar shipment from Hong Kong

Customs Commissioner Rey Leonardo B. Guerrero (middle), Subic District Collector Maritess Martin (right) and a customs official present to the media the container full of smuggled Thailand refined sugar at the New Container Terminal 1 in Subic Bay Freeport on Friday. (Jonas Reyes)

Customs Commissioner Rey Leonardo B. Guerrero (middle), Subic District Collector Maritess Martin (right) and a customs official present to the media a container full of smuggled Thailand refined sugar at the New Container Terminal 1 in Subic Bay Freeport on Friday. (Jonas Reyes / MANILA BULLETIN) Due to derogatory information, a total of 34 containers of sugar and one container ... Read More »

Hong Kong customs officers seize US$30 million worth of cocaine

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Hong Kong customs officers have seized HK$240 million (US$30.5 million) worth of cocaine in a series of raids on a four-star hotel room and two flats that led to the arrest of two male foreigners, law enforcement . The amount of cocaine captured on Thursday night – which said to be at least 250kg – was the biggest haul of ... Read More »

Hong Kong keeps hiring grip on bankers despite rising costs

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Hiring mandates for private equity, property, and venture capital rose 40%. Hong Kong is still considered an attractive destination for portfolio managers and investment bankers despite rising costs and its reputation as being one of the most expensive cities to live in, senior headhunter Abimanu Jeyakumar of Selby Jennings told the South China Morning Post. According to Jeyakumar, the city ... Read More »

Member of Hong Kong’s endangered species board fined for ivory trading

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A Hong Kong ivory trader fined this week for illegal ivory possession sits on a government advisory group for protecting endangered species, records showed, potentially an embarrassing blow as Hong Kong fights ivory smuggling. Lau Sai-yuan, a member of the Chinese General Chamber of Commerce and the Hong Kong Art Craft Merchants Association, pleaded guilty on Tuesday to illegal ivory ... Read More »