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July, 25, 2016

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Business > Asia > Hong Kong
Some 300,000 people joined Asia's millionaire ranks last year, according to a world wealth report released Wednesday, which also found that the region slipped behind a rebounding North America.
 
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.
 
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