Group chairman Douglas Flint says geopolitical changes contributed to volatile financial market conditions. Hong Kong: HSBC said Tuesday that net profit fell 82 percent in 2016, calling it a period remembered for its "largely unexpected economic and ... ( read original story ...)
HSBC Slips After Reporting 62% Fall In 2016 Profit
HSBC‘s Hong Kong-listed stock (5.Hong Kong/HSBC) tumbled 3.6% on Tuesday afternoon after the British bank reported its full-year earnings. One-off items sank HSBC today. While adjusted revenue at HSBC was little changed in 2016, reported revenue was 20% ... ( read original story ...)
Hong Kong’s 12th fiscal surplus to fund education, innovation and a salaries tax rebate
Financial Secretary Paul Chan Mo-po will unveil a package of incentives to nurture education in Hong Kong and promote innovation and technology, as well as offer a salaries tax rebate when he delivers the government’s budget on Wednesday. Chan ... ( read original story ...)
More money, tax concessions and bigger rebates: a wish list for Hong Kong’s budget
Hong Kong’s annual budget will be unveiled by new Financial Secretary Paul Chan Mo-po on Wednesday. The budget is expected to outline relief measures to help boost the economy, improve livelihoods and benefit different commercial sectors through the ... ( read original story ...)
Singapore’s hope of beating Hong Kong in IPOs is a pipe dream
Hong Kong lost out on Alibaba’s IPO because the Chinese e-commerce giant was adamant on a tiered share structure that the city’s rules do not permit. SGX was edged out by the NYSE for the 2012 IPO of English football giant Manchester United for the ... ( read original story ...)
Hong Kong Disneyland posts 2016 loss on tourism softness
HONG KONG - Hong Kong Disneyland has posted another annual loss as attendance by mainland Chinese tourists dropped amid a softer tourism market. The park said Monday that it lost 171 million Hong Kong dollars ($22 million) on revenue of HK$4.8 billion for ... ( read original story ...)
Former Hong Kong leader remanded in custody ahead of sentencing
He faces a possible seven-year sentence. On Monday, Tsang, in a white shirt, dark suit and trademark bow tie, entered Hong Kong's High Court holding the hand of his wife Selina. His family remained silent throughout the hearing. Scores of high-profile Hong ... ( read original story ...)
Hong Kong Disneyland records loss for second year in a row, as mainland visitor numbers dwindle
Hong Kong Disneyland has announced a loss for 2016, its second loss-making year in a row, losing HK$171 million on fewer visitors from the mainland. Visitor numbers at the Lantau Island park dropped more than 10 per cent to 6.1 million last year according ... ( read original story ...)
Hong Kong union joins critics of McDonald's HK, China sale, sees pay squeeze
HONG KONG: The Hong Kong Confederation of Trade Unions (HKCTU) warned that McDonald's Corp's up-to-US$2.1 billion sale of its Hong Kong and China operations could hit workers' pay, adding to growing criticism of the deal on the mainland and elsewhere. ( read original story ...)
Huge lag in gender equality at work
A 2012 report on women in the workplace by McKinsey & Co showed the percentage of women professionals dropped from 52 at entry-level to 23 at mid-to-senior-management stage, to only 2 percent in CEO positions in Hong Kong. Singapore, Malaysia and Indonesia ... ( read original story ...)
Hong Kong stocks rise early on the coattails of the Dow’s 7-day winning streak
Hong Kong stocks advanced in early trading on Monday ... including the results of HSBC and Hang Seng Bank due on Tuesday. HSBC traded flat at HK$68.3. Hang Seng Bank dropped 0.3 per cent to HK$163. In the mainland, the Shanghai Composite gained 0.4 ... ( read original story ...)
Hang Seng futures higher after Dow posts 7-day win streak
Hong Kong stocks were poised to open higher Monday ... This week, investors will closely watch a barrage of corporate earnings, including the results of HSBC and Hang Seng Bank due on Tuesday. On Friday, the Dow Jones Industrial Average ended up 4.28 ... ( read original story ...)
Hong Kong commuters can expect greater road congestion from bus driver protest, unions warn
Hong Kong commuters may want to leave home earlier Monday morning than usual as greater road congestion was expected due to a protest by bus drivers over police prosecutions of parking irregularities. In the collective action, drivers are not to load or ... ( read original story ...)
Hong Kong police chief calls on public to understand ‘tremendous pressure’ faced by officers in Occupy protests
Lo added that although he should be responsible to all citizens, he had to support his fellow officers and their families. Hong Kong lawmaker brands British judge a ‘yellow heart’ after seven policemen are jailed More than a thousand people ... ( read original story ...)