Following the January 8 shareholder vote that overwhelmingly approved the largest privatisation deal in Hong Kong’s history, many questions remain about the future of Hang Seng Bank, its stakeholders and the broader financial landscape. For Hang Seng Bank’s shareholders, the immediate question is what to do with the HK$106.16 billion (US$13.6 billion) windfall from HSBC…
Thousands of passenger and cargo air taxis could be flying across Hong Kong within a decade as the low-altitude economy takes off, according to one of mainland China’s largest drone makers, which hopes to launch operations in the city. AutoFlight senior vice-president Kellen Tse told the Post the electric vertical take-off and landing (eVTOL) aircraft…
Hong Kong contractors will be able to start installing new scaffolding nets to resume renovation works as early as next week after the deadly Tai Po blaze triggered the citywide removal of mesh at around 420 buildings, an industry body has said. The Construction Industry Council planned to procure 50,000 scaffolding nets, costing HK$170 (US$21.80)…
An elderly cleaner has been injured after being struck by a left-hand drive private car operating with a trade licence plate at a Hong Kong public housing estate, the second such accident in just over a week. Police received a report at 6.18am on Wednesday that the vehicle, a Geely multipurpose vehicle (MPV), was making…
Hong Kong received 10 per cent more visitors during the Christmas period compared with last year, while Hongkongers made almost 1.7 million outbound trips, up 22 per cent over the same period, according to official statistics. However, the retail sector warned that the absence of New Year fireworks could affect the number of visitors in…
Hong Kong could take a leading role in supporting children with autism in the Greater Bay Area, a former medical faculty dean has said, ahead of plans for a comprehensive care platform to come into operation within a year. Professor Francis Chan Ka-leung of the Chinese University of Hong Kong said the one-stop platform would…
Tourists planning to spend Christmas in Hong Kong have fuelled a surge in guest house bookings since October, driving occupancy and room rates to their strongest levels in five years. But those arriving without reservations may end up paying double the price, according to an industry leader. David Leung Tai-wai also told the Post that…
The emergence of a so-called “super flu” has gripped global headlines, prompting authorities in Hong Kong to urge residents to get vaccinated. Amid the spate of infections, a local research team also found that 99 per cent of residents lacked sufficient antibodies needed to protect themselves from the new strain. With many people travelling for…
The success of the government’s Hong Kong Investment Corporation (HKIC) in establishing an ecosystem for start-ups to raise funds has put a damper on the Christmas plans for employees of some local venture capital (VC) firms. “After partnering with the HKIC, the number of deals we are working on this year has tripled compared to…
Police in eastern China’s Zhejiang province have detained Yu Faxiang, the chairman of Hong Kong-listed Haichang Ocean Park, as authorities investigate alleged mismanagement following defaults on multibillion-yuan wealth products issued by a firm under his control. It is the latest crackdown on mainland China’s shadow banking system, continuing years of government efforts to clean up…