Economy
Nearly 3 in 5 firms fear virus crisis could spur restructuring
But for now, hiring continues for 63% of companies.
Nearly 3 in 5 firms fear virus crisis could spur restructuring
But for now, hiring continues for 63% of companies.
PMI sinks to lowest since 1998
GDP is expected to contract at an annual rate of nearly 5%.
Only 1 in 10 bosses bullish on global growth: survey
About 79% cited changing consumer behaviour as the top threat to their businesses’ growth.
HKMA cuts benchmark interest rate to 1.5%
It was in line with the US Fed’s cuts in response to the virus outbreak.
Hong Kong runs fiscal deficit for first time in 15 years
The government expects the deficit to widen to 4.8% of the GDP for next year.
Hong Kong's permanent residents to get $10,000 each
The government is looking to boost local consumption.
Government cuts taxes, waives fees to rescue embattled enterprises
It will cost the government $18.3b in total.
Exports down 22.7% to $269.4b in January
The drop in values was blamed on the timing difference of the Lunar New Year.
Cash handouts, tax cuts on the cards for recession budget
Eyes are also on the city’s $1.12t fiscal reserve.
Widening fiscal deficit could spill over to 2021
The government is urged to inject more cash into the retail, tourism, and F&B sectors.
Hong Kong companies have no safety net in fight for survival
The region does not have recourse to any corporate rescue procedure in times of difficulties.
Inflation up 1.4% in January
Food prices spiked 17% during the month.
Singapore, New Zealand beat Hong Kong in ease of doing business
But Hong Kong is still the best for dealing with construction permits.
Hong Kong gears towards back-to-back recessions: report
Economists forecast that GDP will contract by more than 1% in 2020.
Total exports up 3.8% in December 2019
This was led by the 15.2% growth recorded in exports to the Mainland.
Government injects $25b to help businesses weather COVID-19
It took into account feedback from the public, various sectors and Legislative Council members.
Majority expects Hong Kong's economic situation to worsen in 2020
Only 48% of employees expect employers to do better this year.
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