Operating costs for Hong Kong’s industrial and commercial sectors have jumped by 50 per cent since the start of the United States-Israel war with Iran, according to an oil industry representative, who has said distributors will pass on subsidies to customers. A taxi union leader on Thursday also called on the government to extend its…
The appreciating yuan and ongoing Sino-Japanese tensions have given Hong Kong tourism a boost ahead of mainland China’s Labour Day “golden week” holiday, with hotel prices rising by as much as 8 per cent, an industry representative has said. Lawmaker Alan Chan Chung-yee, who is also the chief operating officer of Miramar Group, expressed optimism…
Hong Kong Financial Secretary Paul Chan Mo-po recently said the city could rise to become the world’s No 2 financial centre in 10-15 years. That is the right kind of ambition. In a world being reshaped by geopolitical fragmentation, China’s growing global weight and rapid technological change, Hong Kong must think beyond remaining internationally competitive…
The bourse operators of Hong Kong and Malaysia are exploring a range of collaborations, from dual listings and exchange-traded funds (ETFs) to Islamic finance, to forge closer ties between the city and the Southeast Asian country. Hong Kong Exchanges and Clearing (HKEX) CEO Bonnie Chan Yiting and Boursa Malaysia CEO Dato Fad’l Mohamed unveiled their…
Twenty-two strategic enterprises have signed agreements with the Office for Attracting Strategic Enterprises (OASES) to open or expand operations in Hong Kong. The latest group marks the sixth cohort under the government’s flagship investment attraction initiative since its launch in 2022, bringing the total number of strategic partners to more than 120. The South China…
Global drug maker Pfizer and biotech firm Amgen, each valued at more than HK$1 trillion (US$153 billion), are among 22 strategic enterprises planning to open or expand offices in Hong Kong, the South China Morning Post has learned. A source said on Monday that these industry leaders were among companies from the fintech, cloud computing…
Hong Kong’s sole legal betting operator and lawmakers were caught off guard by the government’s abrupt decision to suspend the rollout of legal basketball betting, which some believe was intended to align with Beijing’s efforts to curb gambling amid a surge in prediction markets. The government confirmed on Monday that it had suspended its plan…
Hong Kong’s 21 ministerial-level officials spent more than HK$46.6 million (US$5.9 million) on trips over the past three financial years, with finance chief Paul Chan Mo-po accounting for nearly a quarter of the total. Secretary for Commerce and Economic Development Algernon Yau Ying-wah was the most frequent traveller, making 50 trips in the past three…
In the summer of 1998, the usually placid air at the Hong Kong Monetary Authority’s headquarters in Citibank Tower suddenly evaporated as regional currencies collapsed like dominoes. Rapacious speculators had shorted currencies such as the Thai baht, the Indonesian rupiah and the Korean won and had profited handsomely. The contagion looked like it would also…
Hong Kong will step up efforts to bolster its global standing and strengthen links between mainland China and the West, enabling the city to better serve as a ‘superconnector’ and ‘super value adder’ for the nation amid growing geopolitical complexities, the financial chief has said. Financial Secretary Paul Chan Mo-po wrote in his weekly blog…