Hong Kong

The Lands Department has announced the resumption of land for the implementation of a preservation and revitalisation project on Shanghai and Argyle Streets in Mong Kok.

Hutchison Whampoa eported a massive 78% drop in net profit for the first half of the year.

Swedish retail clothing company H & M Hennes & Mauritz AB will shutter its flagship store in Hong Kong due to an increase in rent.

Retail sales in Hong Kong are projected to fall for the rest of the year following an 11% increase in value in June.

Standard Chartered PLC falls a single percent short of its pretax profit target for the first-half of this year.

The total sales value of these transactions dropped 14% to $46.8 billion in July.

Loans inched forward at the tepid pace of 1.5% in the second quarter reflecting the economic slowdown gripping Hong Kong.

People aged 65 and over is projected to rise from 13% in 2011 to 30% in 2041.

The Eurozone’s enduring financial malaise forced an 8.4% drop in the net income of HSBC Holdings Plc.

A spike in Hong Kong’s home affordability ratio raises fears of future payment defaults by home owners.

A growth in lending income propels profits of Hang Seng Bank Ltd by 14%.

Renminbi services will be available to them from August 1.

Hong Kong’s top insurance company will finance its planned acquisition of ING Group NV’s insurance operations with bank loans.

Shareholders of the London Metal Exchange have approved their company’s takeover by the Hong Kong Exchanges & Clearing Ltd.

Rents for luxury homes are expected to fall again by 4.2% in the second half of the year after plunging 7.5% in the first half.

But demand for Grade-A office space declined forcing rents to slip 3.2%.