When it comes to bad prognostication, no one can beat Fortune, which came up with the mother of all “Hong Kong is doomed” narratives. In June 1995, the magazine ran its infamous “The Death of Hong Kong” cover story, predicting its demise following the 1997 handover to China. Stephen Roach, veteran China watcher and former…
Paul Chan Mo-po will seek to explain Hong Kong’s efforts to combat terrorism financing and work to attract more funds and business to the city during a five-day Europe trip, noting that stabilising geopolitics will strengthen foreign ties and the economic environment. The finance chief’s coming trip was announced on Sunday, and follows the easing…
The International Monetary Fund (IMF) has lauded the resilience of Hong Kong’s economy, noting a sustained recovery despite economic activity having yet to return to pre-Covid levels, while warning of downside risks stemming from escalating geopolitical tensions. It also urged Hong Kong to pursue medium-term financial reforms, including the introduction of a goods and services…
Hong Kong’s financial chief has defended his latest budget against public criticism over the lack of sweeteners, stressing that the government must balance its finances with long-term investments for the city’s benefit. Financial Secretary Paul Chan Mo-po said on Thursday he would brief credit-rating agencies and the International Monetary Fund next month on his budget,…
Washington: An unexpectedly sturdy world economy is likely to shrug off President Donald Trump‘s protectionist trade policies this year, thanks partly to a surge of investment in artificial intelligence in North America and Asia, the International Monetary Fund said in a report out Monday. The 191-nation lending organisation expects that global growth will come in…
Even in these turbulent times, Hong Kong has reasons to count its blessings. I refer to the fundamentals of our global competitiveness, which will protect us from the fiercest storms of the current cycle of economic and geopolitical turmoil. We cannot be immune, given that many economies worldwide face challenges more severe than at any…
Britain’s annual rate of consumer price inflation remained at 3.8% in September, below expectations, official figures showed on Wednesday. Most economists polled by Reuters and the Bank of England had forecast that the headline measure of inflation would rise to 4.0% after holding at 3.8% in August and July. British inflation will be the highest…
American business leaders are looking to use Hong Kong as a “springboard” for tapping markets in China and Asia despite geopolitical tensions amid a wider reassessment of the mainland’s technological innovation, the city’s finance chief has said. Reflecting on his trip to New York and Washington last week, Financial Secretary Paul Chan Mo-po also said…
International Monetary Fund chief Kristalina Georgieva on Friday said she hoped the U.S. and China could ease trade tensions and avoid a cutoff in the flow of rare earths to the global economy that she said would have a “material impact” on growth. Such a scenario would exacerbate uncertainty and hurt an already weakened global…
By Mike Dolan -What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Finance and Markets Edgier world markets appeared to bat away the latest testy exchanges in the re-heated U.S.-China trade war, helped by dovish soundings from the Federal Reserve boss that included signals about an imminent end to its balance sheet…