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July, 2, 2016

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Business > Asia > Hong Kong
Bubble trouble hits Hong Kong jade market
Prized as a magical imperial stone, jade is a status symbol of the super rich in Asia, but rocketing prices in the top-end of the market have left traders in Hong Kong struggling to find buyers.
A former Hong Kong minister was Thursday given an eight-month suspended prison sentence for fraud over his housing allowance, in a case which puts the city's clean image under scrutiny.
Standard Chartered on Tuesday said its first-half net profit fell 24 percent, with some of its businesses in emerging Asian markets seeing slower growth.
Hong Kong billionaire Li Ka-shing is buying a Dutch waste and renewable energy company for 943.7 million euros (US$1.3 billion).
Hong Kong's economy saw modest year-on-year growth in the first quarter, with strong demand from mainland China offsetting weakness in the West, officials said Friday.
A red bowl with a lotus pattern broke the world record for Chinese Kangxi ceramics on Monday, fetching over US$9 million after a bidding war won by a Hong Kong ceramics dealer at the last day of spring sales for global auctioneer Sotheby's.
Hong Kong shares slumped more than 2 percent to a new low for 2013 on Friday as investors fretted over bird flu in China, with Chinese airline stocks tumbling by as much as 12 percent.
Hopes that Hong Kong's 2017 election will be genuinely democratic have been dashed after a senior Chinese leader said, regardless of the vote, Beijing will have the final say on who is appointed Hong Kong's next leader.
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