The Hong Kong government must ensure its massive HK$1.8 billion (US$229.8 million) subsidy for diesel to mitigate record-high oil prices for the transport sector is not exploited by fuel companies through discount manipulations, an industry leader and a lawmaker have cautioned. Their warnings came shortly after authorities announced a two-month, HK$3-per-litre (38 US cents) diesel…
Operators of illicit fuel stations can earn as much as HK$10,000 (US$1,280) a day by smuggling untaxed petrol into Hong Kong using vehicles equipped with enlarged tanks and selling it to car club members via coded messages, the South China Morning Post has learned. A source said there had been more cases involving illicit fuel…
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…
Hong Kong authorities have received 221 complaints about illegal petrol stations in the first two months of the year, averaging about 111 per month – 42 per cent higher than the monthly average in 2025 – as drivers continue to grapple with rising fuel prices caused by the US-Israel war with Iran. The Fire Services…
Conglomerate Swire Pacific has sold part of its stake in Hong Kong flag carrier Cathay Pacific Airways for HK$1.8 billion to raise working capital. The group revealed on Friday that it sold 153.05 million shares at HK$11.74 each the previous day. This marks a 9.6 per cent discount to the last traded price of HK$12.99…
Escalating geopolitical tensions will not derail Hong Kong’s goal set out in the country’s 15th five-year plan and its efforts to implement the blueprint, former leader Leung Chun-ying has said, describing agility and adaptability as in the city’s DNA. The vice-chairman of the Chinese People’s Political Consultative Conference, the country’s top political advisory body, also…
Hong Kong should speed up the construction of the Northern Metropolis megaproject near the border with the mainland and the development of a commodity trading ecosystem, according to the draft outline of China’s 15th five-year plan. Other priorities included stronger integration with national development on the economic, technological and social fronts, especially deepening cross-border connections…
Hong Kong tycoons have expressed confidence in the Middle East’s economic outlook amid continued strikes by the United States and Israel on Iran and Tehran’s retaliatory attacks, stressing that the city’s economy is unlikely to be affected. Speaking to the media in Beijing on the sidelines of the “two sessions” – the nation’s annual parliamentary…
In a surprise attack, the United States struck Iran’s nuclear facilities — Natanz, Isfahan and Fordow — on Saturday night. Slamming the attack, China said it has damaged the US’s credibility, warning the situation “may go out of control”, according to its state broadcaster. Experts have weighed in on Beijing’s role as Tehran suffers a…