News

First quarter total port cargo flat at 62.7mn tonnes

Hong Kong’s seaborne cargo up 3% to 43.2mn tonnes, while river cargo down 6% to 19.5mn tones.

First quarter total port cargo flat at 62.7mn tonnes

Hong Kong’s seaborne cargo up 3% to 43.2mn tonnes, while river cargo down 6% to 19.5mn tones.

Colliers International unveils Colliershomes.com

The company expects revamped website with more easily accessible interface to remain premier resource for residential property in Hong Kong.

Development Bureau revises plan for West Rail Long Ping project

Among the major changes are deletion of one residential tower and a three-level podium and removal of a basement carpark to reduce development bulk.

Lands Department issues 1 pre-sale consent in May

Approval of 24 applications for pre-sale consent for uncompleted residential units and 2 applications for uncompleted commercial developments are still pending.

HK foreign currency reserves in May down by US$1bn

Hong Kong incurred no unsettled forward contracts at the end of April and May.

Cathay Pacific extends code-share arrangement with Alaska Airlines

The deal aims to cover 2 destinations in Mexico as it further expand reach to Latin America market.

Luxury residential prices up 14%

The impact of the Special Stamp Duty introduced in November on all sales with a holding period of less than 24 months is said to have faded.

Prada aims to raise HK$20.22bn in Hong Kong IPO

The luxury goods company taps China market, which is seen to be the world’s third-biggest market for luxury goods in 5 years.

HKMEx to offer automated trading services through Equinix

The first contract will be a 1 kilo gold futures contract providing physical delivery in Hong Kong.

Number of sale-purchase agreements in May up 20.7%

The number of searches of land registers made by the public in May was 498,692, up 0.7% on same time last year.

Lenders to incorporate chip-based technology in their ATMs

The technology enhances security of ATM transactions as fraudsters would have difficulty in card replication.

Hong Kong admits 1,486 through quality migrant scheme

More than three-fourths of the approved applicants are Chinese.

Hong Kong strictly monitors quality tourism scheme

Non-accredited merchants found to be displaying the QTS sign to receive warning letters from the Tourism Board to demand the immediate removal of sign.

Lenovo to take over Medion AG

Deal to merge major PC Company with major European PC, multimedia products and digital services vendor to accelerate consumer business growth in Europe.

Retail Asia Expo 2011 to kick off 14 June

Hong Kong Convention and Exhibition Centre will host event to unite players in the US$5.4tn sector.

Cathay Pacific pitches for 3rd runway at Hong Kong International Airport

The carrier boosts Hong Kong’s hub role as it invests in new HK$5.5bn cargo terminal and 87 new aircraft worth HK$180bn.

Hong Kong’s first quarter total gross premiums up 13.3%

Yet Hong Kong insurance industry’s overall underwriting profit declined from $559mn to $482mn.