Page 2 - Hong Kong
Horizon Robotics targets $696 mn Hong Kong IPO, city's largest in 2024
If successful, the IPO will be the largest in Hong Kong in 2024, eclipsing China Resources Beverage which began book-building on Tuesday for its up to $650 million listing
Horizon Robotics targets $696mn Hong Kong IPO, city's largest in 2024
If successful, the IPO will be the largest in Hong Kong in 2024, eclipsing China Resources Beverage which began book-building on Tuesday for its up to $650 million listing
Hong Kong cuts liquor tax to boost nightlife and attract tourists
Hong Kong's leader announced a cut to liquor tax Wednesday as the Asian financial hub hopes to revive its reputation as a travel destination with a vibrant nightlife and dining scene. After fulfilling Beijing's long-standing imperative to enact a homegrown national security law, Chief Executive John Lee now faces challenges with economic competitiveness against regional rivals like Singapore, Japan, and mainland Chinese metropolises. Changes in residents' lifestyles and a wave of middle-class emigration during the COVID-19 pandemic have dampened local demand. Many residents now prefer to spend their weekends in mainland China, attracted by its lower prices and a wider variety of entertainment options. Visitors from the mainland are also spending less in the city than before. Vacant shops are commonly seen in the city's most popular shopping districts, and revenue at the city's bars were down about 28% in the first half of 2024 from the same period in 2019, preliminary official data
India to Singapore, HK: Uber rich shift $235 bn to offshore family offices
Hong Kong ranked fourth with $70 billion in transferred assets to Singapore; the rest of Asia collectively parked over $370 billion in the island nation.
Stock brokers in Hong Kong swamped by 'once in a century' stock frenzy
Brokers across Hong Kong are experiencing a similar euphoria as the stocks of Chinese companies soar in the wake of landmark stimulus moves by Beijing last week
India second best global market in H1FY25 behind Hong Kong, shows data
Consumer durables, auto and metal stocks were among the best-performers.
Cathay Cargo wants Indian airlines to use Hong Kong-based cargo terminal
Cathay Cargo, part of Cathay Pacific Airways, has said it wants Indian airlines to use its Hong Kong-based cargo terminal for various freight movements and is already in active discussion with one carrier. According to Mark Watts, Chief Operating Officer of Cathay Cargo Terminal, the facility, with an annual shipment handling capacity of 2.7 million tonnes, is open for all airlines that fly into Hong Kong. "We don't currently have any Indian air carriers, but I would definitely like to have more Indian air carriers using the Cathay Cargo terminal, and we are in active discussions with one at the moment," Watts told PTI in an interview. He refused to reveal the name of the Indian carrier with which the talks are in progress. Watts said the facility, spread over 1 lakh square metres, is "right-sized for the short and medium term", and has scope for further expansion. "In terms of our overall facility size, we actually think we're right-sized for the short and medium term...we've got
Cathay Pacific buys back warrants from Hong Kong government's 2020 bailout
Cathay made heavy losses and layoffs during the COVID-19 pandemic and reported its first annual profit in four years in March, and paid its first dividend since 2019
Evergrande founder's ex-wife wins limited access to frozen funds in UK
The troubled developer's liquidators are pursuing legal action to recover approximately $6 billion from seven defendants
DBS may tap Goldman Sachs to help find insurance partner in India, Taiwan
The Singapore-based lender is working with Goldman Sachs Group Inc. as an adviser on potential ban assurance agreements for those markets
Southern China braces for Typhoon Yagi after it sweeps by Hong Kong
A powerful typhoon swept south of Hong Kong and was moving toward a Chinese island province where it was expected to make landfall Friday, forcing many aspects of life in the region to a halt. Trading on the stock market, bank services and schools were halted in Hong Kong after the city's weather authority raised a No. 8 typhoon signal for Typhoon Yagi, the third-highest warning under the city's weather system. Yagi, with maximum sustained winds of 230 kilometers (142 miles) per hour near its center, forced more than 250 people to seek refuge at temporary government shelters and led to cancellations of more than 100 flights in the city. Heavy rain and strong winds overnight felled dozens of trees across the financial hub before the weather gradually calmed on Friday morning. The weather forecaster was expected to downgrade the typhoon signal in the afternoon. In Hainan, a tropical holiday island in southern China, residents were bracing for the powerful storm. The province's ...
Hong Kong's Cathay Pacific probe finds 15 A350s need engine parts replaced
Aviation Herald, an air safety publication, reported the jet had turned back after a cockpit alert warning of a fire in one of its two Rolls-Royce XWB-97 engines
Cathay Pacific halts flights for A350 checks, other airlines await guidance
Rolls-Royce had not yet issued a directive to airlines regarding possible inspections, according to an industry source who was not authorised to speak publicly about the matter
What is the issue with Cathay Pacific's A350 engines: All you need to know
A problem unfolded several minutes after take-off on flight CX383 from Hong Kong to Zurich on Monday
Hong Kong court convicts editors over articles on democracy activists
The city's District Court on Thursday announced the conviction of Chung Pui-kuen and Patrick Lam, top editors at the shuttered pro-democracy publisher Stand News
Cathay Cargo keen for biz in India, aims for 'coterminalisation' of planes
Hong Kong-based Cathay Cargo is looking to expand in India and wants its freighter planes to be allowed to "co-terminate" while flying between multiple destinations within the country under the open sky framework, a senior company official said. Under the open sky policy, the Indian government allows several foreign cargo carriers to operate from all international airports so as to fast-track movement of goods, especially to push exports of perishable items. "Open sky policy is positive for India," said Tom Owen, Director, Cargo, Cathay Cargo. "...What we (would) also like to see in addition to that is the ability to co-terminate our flights. We like to fly into Delhi and then fly to Kolkata and then fly back to Hong Kong. So we can pick up on two places," Owen told PTI in an interview. He said the company is upbeat on India's economic growth and "we are very keen to grow more in India". Cathay Cargo can "redeploy the capacity to help the country respond to the needs of the market
Hong Kong expects to double Indian footfalls this year with events lined-up
Hong Kong is expecting to double the number of Indian travellers this year with a line-up of festivals and events to boost tourism, a top executive of HK Tourism Board has said. Last year, 2,08,000 Indians travelled to Hong Kong. "We want to double this number this year and have many festivals and events lined up to boost tourism this year. In the first half of 2024, Hong Kong welcomed 1,81,000 visitors from India, which is 89 per cent of the pre-Covid time," Hong Kong Tourism Board Director, South Asia and Middle East, Puneet Kumar told PTI. Looking at this growth in momentum, the HK Tourism Board is hoping to cross the pre-Covid (2018) level of tourist arrivals this year, he added. Hong Kong Tourism Board takes 2018 as the benchmark for pre-Covid times as in 2019, the tourism industry almost came to a standstill with cancellation of hundreds of flights as the country saw protests against the Hong Kong government's introduction of a bill to amend the Fugitive Offenders Ordinance w
HK-based developer Logan Group gets over $1 bn loan amid restructuring
The newly secured refinancing is a step in Logan's path to restructure around $8 billion of its offshore debt with the firm adding that it will continue to push forward with the restructuring
Asia stocks firm, dollar sags amid low US treasury yields on Fed cut bets
Mainland Chinese blue chips added 0.4%, although Hong Kong's Hang Seng slipped 0.3%
Hong Kong billionaire Adrian Cheng expects city to become top wealth hub
The semi-autonomous Chinese territory is trying to regain its stature as a global financial hub following years of draconian Covid-19 restrictions and a sweeping crackdown against political dissent
