The loss-making authority that manages Hong Kong’s West Kowloon arts hub will sell bonds for the first time, aimed at raising up to US$1 billion to fund its operations. According to documents submitted to Hong Kong Exchanges and Clearing on Thursday, the West Kowloon Cultural District Authority appointed the Hongkong and Shanghai Banking Corporation and…
Hong Kong collected HK$189 million (US$24.1 million) from a hotel tax on guests for the first quarter following its reintroduction, with industry leaders raising concerns as to whether a HK$1.1 billion annual income target can be met. Industry veterans also called for more government support, saying the tax figures reflected that hotels were struggling and…
Recent weakness in the Hong Kong dollar against some regional currencies has made the city more appealing to inbound tourists while lowering the costs of services, economists and industry leaders have said. The Hong Kong dollar, pegged to the US dollar, weakened against a basket of currencies as reflected in the US dollar DXY Index,…