Cathay Pacific slashes passenger capacity by 96%

Skeleton flights to operate in April and May due to demand-drop and travel restrictions. Cathay Pacific and Cathay Dragon will cut...

Link REIT bags $948.04m sustainable loan from DBS

Proceeds will be used for general corporate funding purposes. Link REIT has secured a $948.04m (A$212m) five-year sustainability-linked loan from DBS Bank,...

ITC earmarks $2m per R&D project to curb COVID-19

It will fund R&D trials related to detection, diagnosis or surveillance of the virus. The Innovation and Technology Commission (ITC) is...

Volatile market tests Hong Kong banks’ buffers

Local lenders face losses as stock markets globally fall to bear market. Hong Kong banks’ capital and liquidity buffers built up...

Exports down 22.9% in January

Double-digit declines were recorded in the USA, Japan, the Mainland and Taiwan. The volume of exports crashed by 22.9% YoY in...

Hong Kong adults more financially literate but show weak money behaviour

Younger adults are more likely to overspend and end up in debt. Hong Kong adults have shown improved financial literacy but...

Hang Seng launches Stock Connect Biotech 50 Index

Jiangsu Hengrui Medicine tops the list with a 10.19% weighting. Hang Seng Indexes has launched the Hang Seng Stock Connect Biotech...

Hong Kong’s first virtual bank starts operations

The firm is offering a savings rate of 1% for deposits up to $500,000. ZA Bank, the digital-only banking unit of...

Feb inflation up 2.2%

Overall consumer prices rose 2.2% year-on-year in February, compared to 1.4% in January, the Census & Statistics Department announced today.   Netting out the effects of...

Gov’t blames protests as Hong Kong loses ‘world’s freest economy’ accolade after 25 years

After 25 years on top, Hong Kong is no longer considered the world’s freest economy, according to a US think-tank. It has rated the city...

Cathay Pacific’s passenger count crashed 54.1% in February

Average Lunar Year numbers of 90,000 dropped to only 20,000 this year. Cathay Pacific and Cathay Dragon saw its passenger count...

Jobless rate expanded to 3.7% in February

It was dragged down by the construction, retail, accommodation and food services sectors. Hong Kong’s unemployment rate widened to 3.7% during...

Hong Kong to adopt bankruptcy system

The system would give companies a window to restructure their debt. Hong Kong plans to introduce its version of the US-style...

Hong Kong lags Singapore as freest economy in the world

Free economies are said to enjoy incomes more than double the global average. Singapore has ousted Hong Kong as the world’s...

HKSTP floats new round of financial subsidies

It is capped at $75,000 for each company, benefitting 400 incubatees. The Hong Kong Science and Technology Parks Corporation (HKSTP) has...

Hong Kong, Singapore, Osaka hailed world’s costliest cities for expats

Asian cities continue to have the most expensive groceries. Singapore, Hong Kong and Osaka are sharing the throne as the most...

HKMA cuts base rate to 0.86%

It had already slashed the rate to 1.5% earlier this month. The Hong Kong Monetary Authority (HKMA) has slashed its base...

SMC Electric delays proposed listing, share offer

Application monies will be refunded 16 March 2020. Electric firm SMC Electric has postponed its share offer and its proposed listing...

Cathay Pacific resumes US and London flights

It reinstated three flights between Hong Kong and London Heathrow in 17-21 March. Cathay Pacific has reinstated flights from the US...

Hang Seng Bank to reopen nine branches

Three in Hong Kong Island, three in Kowloon, and three in New Territories. Hang Seng Bank will reopen nine street-level branches...

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