The trust of late billionaire Nina Wang Kung Yu-sum has donated HK$100 million (US$12.8 million) to victims of the deadly Tai Po blaze, surpassing tycoon Li Ka-shing to become the second-largest single donor after the Hong Kong Jockey Club. Nina Wang Charity Management announced on Thursday that it would donate HK$100 million to support the…
Hong Kong companies are much more optimistic about the economic outlook for the coming year, a survey by one of the city’s biggest business chambers has found, although the organisation itself expects growth to slow in 2026. The Hong Kong General Chamber of Commerce released the results of its annual survey on Thursday, showing that…
Those factors, JLL analysts said, were projected to help trim Hong Kong developers’ swollen inventory, which would drop back to their normal level by the end of next year. “Housing prices have bottomed out, and the outlook for 2026 is cautiously optimistic,” said Joseph Tsang Hon-ping, chairman of JLL in Hong Kong. “We expect capital…
Hong Kong mother Moon Li was just HK$65,000 (US$8,350) away from paying off the mortgage on the flat she and her husband bought 17 years ago, but a deadly blaze at their Tai Po estate may have shattered her dream of owning a home. “I used to have a cosy home,” the 40-year-old clinic assistant…
Hong Kong’s insurance sector is expected to face record claims of HK$2.6 billion (US$334 million) related to the deadly fire in Tai Po, the worst in seven decades that claimed 75 lives and seriously damaged seven buildings, according to industry insiders. The fire would lead to a surge in insurance payments for personal and property…
Emperor International Holdings has secured bank approval to resume borrowing under existing terms by nearly two years, providing the embattled Hong Kong developer with much-needed breathing room after it failed to meet HK$16.6 billion (US$2.13 billion) in debt obligations in July. Meanwhile, shares of Lai Sun Development (LSD) resumed trading on the Hong Kong stock…
Emperor International Holdings has secured bank approval to resume borrowing under existing terms by nearly two years, providing the embattled Hong Kong developer with much-needed breathing room after it failed to meet HK$16.6 billion (US$2.13 billion) in debt obligations in July. Meanwhile, shares of Lai Sun Development (LSD) resumed trading on the Hong Kong stock…
Buildings along Wall Street in New York, US. (Bloomberg) — Wall Street chief executives said investors should brace for an equity market drop of more than 10% in the next 12 to 24 months, and that such a correction may be a positive development. Corporate earnings are strong but “what’s challenging are valuations,” said Mike…
Hong Kong insurance companies and brokers from Wednesday are barred from paying excessive referral fees to unlicensed individuals, as the city’s insurance regulator bolsters efforts to curb misconduct and enhance customer protection. The city’s Insurance Authority has put a 50 per cent cap on commissions for referral fees in life insurance policies, a move that…
Hong Kong is accelerating reforms of its financial market by making the sector’s ecosystem more resilient and comprehensive, a minister has said, as the city grapples with geopolitics and a rapidly changing technology-led global landscape. Financial Secretary Paul Chan Mo-po also said on Sunday that Hong Kong would take a two-pronged approach by strengthening its…