Saturday, August 13, 2011
Hong Kong's economic growth slowed in the second quarter as exports from the Chinese territory stagnated. The government said Friday that gross domestic product expanded 5.1 percent from a year earlier after growing 7.5 percent in the first quarter.
Wednesday, August 10, 2011
A luxury residential site in Hong Kong was sold well under market expectations Tuesday at the latest government land auction, signaling a cooling of the city's red-hot property market.
Wednesday, August 3, 2011
Hong Kong billionaire Li Ka-shing's Cheung Kong Infrastructure Holdings on Tuesday announced it would buy one of Britain's biggest water utilities in a deal worth nearly US$4 billion.
Saturday, July 30, 2011
Shares in Asian insurance giant AIA touched a record high in Hong Kong Friday as the firm said net profit in the first six months of its fiscal year rose by a quarter. The stock, which was listed in the teeming financial hub following a monster US$20.5 billion share sale last year, hit HK$29 (US$3.72) in early trade before closing at HK$28.65, up 3.43 percent on the day. That close was about 46 percent above AIA's HK$19.68 initial public offering price.
Thursday, July 28, 2011
China's top hypermarket operator Sun Art Retail group soared as much as 41 percent on its Hong Kong trading debut Wednesday, after raising US$1.06 billion from its initial public offering.
Wednesday, July 27, 2011
Ailing Macau casino tycoon Stanley Ho has sold part of his property-and-transport firm to his daughter Pansy, one of several relatives he sued earlier this year in a high-profile family row. Ho's daughter, managing director of Shun Tak Holdings, bought 36.3 million shares of the Hong Kong-listed firm, increasing her stake to 12.67 percent from 11 percent, according to a stock exchange filing late Monday.
Tuesday, July 26, 2011
HSBC Hong Kong on Monday apologized for printing a batch of flawed HK$100 (US$12.8) notes depicting the petals of the Bauhinia flower — the city's emblem — pointing in the wrong direction.
A Hong Kong utility says it's buying a stake in a nuclear power plant in southern China for US$11 billion. CLP Holdings Ltd. said Monday its nuclear investment unit is investing 70 billion yuan (US$10.8 billion) for 17 percent of the Yangjiang Nuclear Power Station.
Hong Kong International Airport saw a 5.7 percent rise in passenger numbers to 25.8 million travelers in the first half of this year, the territory's airport authority said Sunday. The authority said the number of aircraft arrivals and departures surged 12.1 percent to a record 162,485 aircraft movements.
Thursday, July 21, 2011
The world's biggest firms are increasingly setting up shop in Asia's booming economies, a survey said Wednesday, as Hong Kong topped a list of the world's most popular cities for global businesses.