Hong Kong’s MTR Corporation has signed a deal with CRRC Guangdong, marking the firm’s first investment in the railway equipment industry in the neighbouring province and it seeks to gain further access to the Greater Bay Area market. The deal between the local rail giant and the train parts maker was signed in Beijing on…
Hong Kong’s railway operator and the government signed an agreement on the design and construction of the major rail link in the Northern Metropolis on Tuesday, fast-tracking its completion by at least two years to 2034. The agreement, which gives momentum to the Northern Metropolis project, involves HK$39.05 billion in financing from land premiums for…
Hong Kong rail giant the MTR Corporation may face a penalty of HK$19.2 million (US$2.4 million) for a five-hour service suspension on the Tseung Kwan O line caused by malfunctions on Thursday, with the firm under mounting pressure to overhaul overhead cables and speed up inspections using technology. Lawmaker Gary Zhang Xinyu said on Friday…
The number of instances of misuse of Hong Kong’s HK$2 (26 US cents) transport subsidy scheme for the elderly has fallen sharply since the introduction of real-name registration, the city’s welfare minister has revealed. Secretary for Labour and Welfare Chris Sun Yuk-han said on Wednesday that between August 2024 and April of this year, there…
The number of instances of misuse of Hong Kong’s HK$2 (26 US cents) transport subsidy scheme for the elderly has fallen sharply since the introduction of real-name registration, the city’s welfare minister has revealed. Secretary for Labour and Welfare Chris Sun Yuk-han said on Wednesday that between August 2024 and April of this year, there…
Hong Kong rail giant the MTR Corporation’s net profit doubled to HK$15.77 billion (US$2.03 billion) last year from HK$7.78 billion in 2023, its best performance in six years, driven by robust contributions from property development and strong demand for local and cross-border train services. It marked the firm’s strongest result since 2018 when it pulled…
Reskilling and upskilling are among Hong Kong’s future workplace trends amid the changing landscape brought on by the rise of AI, according to the head of professional networking platform LinkedIn in the city. Ng Mei-mei, general manager for the platform in Hong Kong and Taiwan, also said its data showed users were adopting a more…
Hong Kong’s rail giant and transport authorities have come under pressure to review their penalty mechanism after a train fault caused a seven-hour service disruption, despite industry insiders calling the incident rare. Lawmaker Gary Zhang Xinyu said on Thursday that the current penalty system for service delays failed to reflect the scale of the disruption…
Alibaba Group Holding raised US$5 billion from a multi-tranche dual-currency bond offering, the Chinese e-commerce giant said on Wednesday, an initiative that looks to enhance Hong Kong’s role as an international financial centre. The company’s latest bond offering reflects efforts by the mainland and Hong Kong to bolster the city’s financial standing, including its function…
For years, rumours circulated on the internet that a string of MTR workers had died on the middle rail track at Choi Hung station on the Kwun Tong line in Hong Kong’s bustling Kowloon area, and anyone brave enough to venture into one of the dimly lit tunnels would soon find themselves before the gates…