The new Kai Tak Stadium is set to welcome visitors to Hong Kong, with players and supporters of the fifth stage of the Cathay/HSBC sevens tournament among the first to experience its high-tech features. The stadium features a retractable roof and an advanced bowl cooling system, enhancing the experience for both players and spectators. Opened…
The Hong Kong Monetary Authority (HKMA) maintained its base rate at 4.75 per cent on Thursday. Hours earlier, the Fed left its target rate in the 4.25 to 4.5 per cent range, following the second Federal Open Market Committee (FOMC) meeting of the year. The HKMA last cut the city’s base rate to 4.75 per…
China Vanke has sold around a quarter of the more than 200 units on offer at its Le Mont project on the first day of sales, despite earlier reports indicating that some Hong Kong banks were refusing to extend mortgages to prospective buyers. By 1pm on Saturday, 58 of the 228 available flats at the…
A dozen banks have joined six major lenders in Hong Kong to provide financial support for small and medium-sized enterprises (SME), which account for 98 per cent of the enterprises in the city, to help resolve cash-flow issues. The Hong Kong Association of Banks (HKAB) said on Monday that a total of 18 banks on…
Global investors are “massively underinvested” in China, and as an exporter of capital and technology, the country will continue to create new business opportunities in Southeast Asia despite deglobalisation, panellists said at a South China Morning Post conference on Monday. “The world is waking up to the fact that China’s [technological] advancement is really spectacular,…
Hong Kong’s largest banks are likely to offer new mortgages to ease the burden on homebuyers amid elevated interest rates, but experts doubt that the trend would overcome the factors weighing down the struggling property market. HSBC, one of the city’s three currency-issuing lenders, unveiled on Wednesday new mortgage plans offering a fixed rate of…
The impact on Asian stocks from tariffs imposed on China by US President Donald Trump will be much more limited compared with a stronger dollar due to the uncertainty over the Federal Reserve’s rate cuts, according to Hang Seng Bank. “The actual impact of Trump’s tariffs on the Chinese economy is limited,” Belle Liang, the…
Hong Kong’s monetary authority kept its key interest rate unchanged in lockstep with the US Federal Reserve, taking a breather after last year’s three cuts, in the first monetary policy decision of 2025. The Hong Kong Monetary Authority (HKMA) maintained its base rate at 4.75 per cent on Thursday, in line with market expectations. Hours…
Hong Kong and its tech-savvy residents may have fully embraced digital banking, but companies continue to offer unique and fancy red envelopes, or lai see packets, to clients as an inexpensive way to promote their brand and business. HSBC and ICBC (Asia) have taken the opportunity presented by the Year of the Snake starting on…
CTF Services, the infrastructure development arm under Chow Tai Fook Enterprises (CTFE), owned by one of Hong Kong’s richest families, plans to issue HK$780 million (US$100 million) in convertible bonds to replenish its working capital and repay debt, it said on Thursday. The initial conversion price of HK$8.043 per share equates to a premium of…