Daily Flash
Hong Kong’s monetary authority will launch a Renminbi (RMB) Business Facility from next month to support banks in offering yuan loans to companies, a move that aims to promote trade finance and direct investment as the city strengthens its role as an offshore yuan hub. “The potential usage of the RMB Business Facility by participating…
[HONG KONG] New World Development posted a second straight year of losses as debt pressures and a weak property market took a toll on the distressed Hong Kong builder. The developer controlled by the billionaire Cheng family lost HK$16.3 billion (S$2.7 billion) from continuing operations in the year ended Jun 30, mainly due to one-time…
Hong Kong’s de facto central bank reached out to retail banks on Friday for input on how lenders and their customers should share responsibility for losses when the customers fall victim to scams, as such cases continue to rise in the city. As part of an industry consultation process, the Hong Kong Monetary Authority (HKMA)…
HONG KONG – To celebrate the 76th anniversary of the founding of the People’s Republic of China on Oct 1, Hong Kong will roll out a variety of cultural events and special offers for residents and visitors to join in the celebrations. The day will begin with a flag-raising ceremony, followed by a dazzling fireworks…
Hong Kong authorities have called on residents not to swim at Deep Water Bay Beach and Repulse Bay Beach after a sewage pipe split in two during Super Typhoon Ragasa. The Drainage Services Department said on Thursday that it had immediately stopped using the 450mm-diameter sewage main at the Mills and Chung Path near Deep…
October brings a fresh wave of new dining destinations to Hong Kong, with highlights including the high-profile reopening of a French icon, a new buffet restaurant in a five-star hotel and a beloved bakery opening its eighth store on The Peak. These join other recent additions, like two restaurants offering authentic Thai flavours and the…
Super Typhoon Ragasa pounded Taiwan, Hong Kong and China before moving into Vietnam on Thursday night, though as a much-weakened storm. At its peak Ragasa had mean wind speeds of 165mph as it moved to the south of Taiwan, where it brought significant heavy rain resulting in 17 deaths as a barrier lake burst. The…
Super Typhoon Ragasa swept across the Philippines, Taiwan and southern China in September 2025, bringing fierce winds and pounding rain, but footage of people struggling against gale on a train platform does not show the recent storm. The video in fact depicts a sudden wind storm that hit a railway station in southern China’s Shanwei…
Hong Kong stocks headed for the first weekly decline this month as concerns about frothy valuations for global equities dampened sentiment and drug makers slid after the Trump administration announced a fresh bout of tariffs on the industry. The Hang Seng Index fell 0.6 per cent to 26,320.69 as of 11.01am local time, taking the…
Regarding the mention in the ‘Roadmap for the Development of Fixed Income and Currency Markets,’ where the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) will further promote the development of a market-based offshore Renminbi yield curve, Assistant Chief Executive (External Affairs) of the HKMA, Hui Hoi-chi, stated that there is…