News
Apex Motors to launch $1.5m electric supercar
The car is priced to compete with Tesla’s Roadster.
Bank of East Asia to review its portfolio
This follows after its profits were nearly halved in Q4 2019 due to losses.
HKMA cuts benchmark interest rate to 1.5%
It was in line with the US Fed’s cuts in response to the virus outbreak.
January retail sales remain severe amidst COVID-19 outbreak
Value of sales dropped 21.4% to $37.8b compared to a year earlier.
Finance chief sees property holding up despite turmoil
Paul Chan stated that there is no risk of “an off-the-grid type of downfall”.
18 projects unveiled in new land sale programme
The residential sites will provide an estimated 15,730 units in 2020-2021.
Shoppers shun online shopping apps: study
Consumers prefer to pick up an item in-store after purchasing it online.
HKMC to launch mortgage loan pilot scheme
It has interest rates of 2.75%, 2.85%, and 2.95% per annum for periods of 10, 15 and 20 years, respectively.
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.
Grade A office vacancies widened to 6.1% in January
As a result, rents dropped the sharpest by 1.1% MoM to $120 psf.
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.
Check out Hong Kong's top fintech deals from 2015-2019
Online brokerage firm Futu Holdings raised $1.13b (US$145.5m), the largest deal since 2015.
Hong Kong allots $1.02b for the exhibition and convention industry
Organisers can get 100% venue rental costs for events at the HKCEC.
Healthcare benefits costs to climb 8.3% by 2020
Hong Kong is one of the markets expected to exceed the Asia Pacific’s average medical inflation.
Widening fiscal deficit could spill over to 2021
The government is urged to inject more cash into the retail, tourism, and F&B sectors.
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