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BUSINESSJul 12Fifa World Cup: Hong Kong pubs, restaurants enjoy net gains from big matchesMany bars, restaurants and shopping centres in Hong Kong have enjoyed brisk business thanks to the World Cup, with top nightlife district Lan Kwai Fong recording an up to 70 per cent jump in patronage for this year’s big matches. Lan Kwai Fong Group chairman Allan Zeman told the South China Morning Post that he had joined football fans in the entertainment district in Central for the England-Norway game in the early hours of Sunday morning. “It’s [been] a crazy night. It’ll only get crazier once...South China Morning Post
BUSINESSJul 12Gulf capital flowing into Asia as Hong Kong-Middle East trade up 35%: Paul ChanCapital from the Gulf region is showing signs of flowing into Asia, according to Hong Kong’s finance chief, as bilateral trade between the Middle East and the city rose 35 per cent in the first five months of the year. In his weekly blog on Sunday, Financial Secretary Paul Chan Mo-po said Hong Kong and the Middle East had deepened ties in the areas of the economy, trade, finance, innovation and technology (I&T), and culture over the past few years. While trade between the Gulf Arab States and...South China Morning Post
HEALTHJul 12Youth suicides in Hong Kong hit 10-year high: court reportYouth suicide cases confirmed by Hong Kong Coroner’s Court reached a decade-high last year, despite a 10 per cent overall decline across the population to 1,019. According to the annual coroners’ report published last month, suicide cases confirmed by the court declined across almost all age groups, except for those aged between 10 and 19. Last year, 46 adolescents aged 10 to 19 were reported to have taken their own lives, up from 34 cases in the previous year and reaching a decade high. Most of...South China Morning Post
BUSINESSJul 11UK VAT on private schools triggers record decline in Hong Kong studentsHong Kong student numbers at UK private schools experienced a record decline after Britain imposed a 20 per cent tax on fees last year, with enrolment falling by 17 per cent and new admissions down by 26 per cent. A consultant specialising in student recruitment for British private schools said enrolment had returned to levels seen before Hong Kong’s emigration wave, with parents becoming more selective as costs rose. According to an annual census by the United Kingdom’s Independent Schools...South China Morning Post
WORLDJul 1165 arrested in Hong Kong crackdown targeting illicit triad-linked income sourcesHong Kong police have arrested 65 people, including 11 sex workers and 54 others involved in suspected illegal gambling, in a two-day joint crackdown with fire services and immigration authorities targeting triad-linked income sources. The force said on Saturday that another three people were issued summonses for running an illegal petrol station during the joint operation conducted on Thursday and Friday. Superintendent Lui Sze-ho said officers raided five illegal gambling parlours and four...South China Morning Post
POLITICSJul 11Hong Kong police chief backs plan to deny pay rises to bottom 5% of performersHong Kong’s police chief has thrown his weight behind a controversial government reform of the appraisal system that will deny a pay rise to the bottom 5 per cent of performers, despite concerns raised by frontline officers. Commissioner of Police Joe Chow Yat-ming said on Saturday that management would step up efforts to explain the new policy to staff through various internal channels. “As the head of the department, I support the reform,” Chow said. “I believe our colleagues will agree that...South China Morning Post
DISASTERBREAKINGJul 11Typhoon Bavi: more than 130 flights connecting Hong Kong to region axedMore than 130 flights between Hong Kong, Taiwan, mainland China and Japan have been cancelled, while 10 high-speed rail services have been suspended as Typhoon Bavi barrels towards China’s east coast. Hong Kong International Airport’s webpage showed that 64 inbound flights and 71 outbound flights were cancelled on Saturday, with more than half scheduled to travel between the city and Taipei. Services between Hong Kong and Kaohsiung, Shanghai and Hangzhou were cancelled, while a handful of...South China Morning Post
BUSINESSJul 11BYD showcases battery, charging technology in 15,000km journey from Rome to Hong KongBYD, the world’s largest electric vehicle (EV) maker, has intensified efforts to promote its high-performance batteries and superfast charging technology around the world as it tests a car that it says boasts the world’s longest driving range in a journey from Rome to Hong Kong. A fleet of upgraded versions of the Z9GT, a car produced under BYD’s premium Denza brand, has been travelling across European countries including Italy, Croatia, Serbia and Turkey for nearly a month at the start of a...South China Morning Post
BUSINESSJul 11Hong Kong may adjust tunnel tolls as traffic surpasses pre-reform peakTolls at Hong Kong’s cross-harbour tunnels could be adjusted in the future to better control the flow of vehicles as traffic volume has exceeded levels recorded before fees were overhauled in late 2023, transport authorities have said. A Transport Department paper submitted to the Legislative Council said tolls would need to remain flexible in the future because queues during some peak periods were still spilling onto connecting roads and non-tunnel lanes. “Total traffic volume across the three...South China Morning Post
BUSINESSJul 11No public subsidies needed for Pak Shek Kok MTR station: Hong Kong ministerNo government subsidies will be needed to build the long-awaited Pak Shek Kok station on the East Rail line, Hong Kong’s minister has said, after authorities agreed to grant the MTR Corporation development rights at two sites. Secretary for Development Bernadette Linn Hon-ho said on Saturday that the “rail-plus-property” model would fully cover construction costs, even though a detailed estimate had yet to be finalised. “We are still awaiting the MTR Corp’s detailed design and cost estimates,”...South China Morning Post
HEALTHJul 11How Hong Kong can lead in longevity medicine as silver economy growsA profound demographic and economic shift is sweeping through Asia, quietly rewriting the rules of national development. The traditional paradigm of treating population ageing as a passive fiscal burden is being dismantled as Beijing makes the “silver economy” and proactive ageing strategies the pillars of national security and economic growth. China’s population aged 60 and above reached 320 million last year, accounting for 23 per cent of its citizenry. This is projected to climb to 400...South China Morning Post
WORLDJul 11Filipino workers in Hong Kong ‘recruited as surrogates for Central Asian couples’The Philippine consulate in Hong Kong is investigating allegations that domestic helpers are being recruited in the city to become surrogate mothers for couples in Central Asia for up to 1 million pesos (US$16,220). At least five Filipino domestic helpers recruited in Hong Kong said they were not paid the promised amount despite carrying babies to full term, with one woman told that the child born from surrogacy had “defects”. The consulate told the South China Morning Post that it was looking...South China Morning Post
BUSINESSJul 10Hong Kong’s 3-year deal to host LEAP East ‘affirms’ global I&T roleHong Kong’s role as the exclusive Asian host of the Middle East’s flagship LEAP East exhibition affirms its status as a global hub for innovation and technology (I&T), the Tourism Board has said. The Asian debut of the expo wrapped up in Hong Kong on Friday, drawing more than 25,000 visitors over three days. The city will serve as the event’s sole Asian host for the next three years. “This significant partnership not only demonstrates the global industry’s confidence in Hong Kong, but also...South China Morning Post
BUSINESSJul 10Shein's secretive founder Sky Xu faces biggest public test with Hong Kong IPOShein's founder, Sky Xu, is facing a major public challenge with the company's upcoming Hong Kong IPO.Yahoo Finance
WORLDJul 10Hong Kong and Shenzhen the perfect end points for modern Silk Road: leading economistProminent economist Jeffrey Sachs says he chose Hong Kong and Shenzhen as the final stop on an overland journey retracing the footsteps of Marco Polo because of their significant role in powering the world’s green and digital age. The Columbia University professor set off from Rome on June 13 for a 43-day, 15,000km (9,300-mile) journey, the Marco Polo Drive of Peace, Culture and Sustainable Development. The former adviser to the UN secretary general said the journey was designed to send a...South China Morning Post
BUSINESSJul 10Shein receives approval for Hong Kong listing planShein has received approval for its plan to list on the Hong Kong stock exchange. This marks a significant step for the company's financial future.Seeking Alpha Tech
BUSINESSJul 10Why Payward chose Hong Kong to be its Asian stablecoin gatewayWith its multi-currency advantages and regulatory clarity, Hong Kong has become a critical gateway connecting stablecoins – cryptocurrencies pegged to a stable asset like the US dollar – with traditional finance. Executives said this would help businesses cut costs, lower risks and support expansion into emerging markets. The city’s unique positioning stemmed from its century-long role as a gateway for international business, said Arjun Sethi, Co-CEO of Payward, the parent company of Kraken – a...South China Morning Post
POLITICSJul 10Hong Kong political parties urge access to fertility services for single womenHong Kong should allow unmarried women to receive assisted reproductive services and extend the soon-to-expire newborn baby bonus, political parties have urged ahead of Chief Executive John Lee Ka-chiu’s coming policy address and the city’s first five-year plan. Presenting its proposals to city leader Lee on Friday, Executive Council convenor Regina Ip Lau Suk-yee’s New People’s Party (NPP) also suggested a progressive bonus for families with two or more children. The number of registered births...South China Morning Post
WORLDJul 102 women arrested at Hong Kong border after dog, endangered birds found in bagsHong Kong customs officers have arrested two women at the border for allegedly smuggling animals after they were separately found with a dog worth HK$3,000 (US$380) and two endangered birds that could be sold for a total of HK$5,000. The Customs and Excise Department said on Friday that it had intercepted a 57-year-old mainland Chinese woman at the Lo Wu checkpoint’s arrival hall a day earlier and discovered the dog concealed inside her sling bag. The dog was estimated to have a market value of...South China Morning Post
POLITICSJul 10Hong Kong official defends U-turn on public flats at Pak Shek Kok rail stop siteA senior Hong Kong official has defended the exclusion of public flats near the proposed site of the Pak Shek Kok railway station, arguing they would not align with the existing private housing and the area lacks the necessary community facilities. Permanent Secretary for Development Doris Ho Pui-ling stressed on Friday that the revised proposal would not affect the government’s 10-year housing plan. “We already have sufficient land for our 10-year housing plan, so even without the public...South China Morning Post
SCI & TECHJul 10Hong Kong, Macau central to China’s commercial space expansion, GalaxySpace saysHong Kong and Macau are integral to mainland China’s ambitions to build a globally competitive commercial space industry, according to executives at Beijing-based commercial space company GalaxySpace, as it bets on the two cities to help take its technologies and services overseas. “We have come to realise in recent years that Hong Kong and Macau hold irreplaceable strategic positions and industrial value in the development of China’s commercial space sector,” Xin Yichun, general manager of...South China Morning Post
BUSINESSJul 10HSBC looks for buyers of Hong Kong subsidiary Hang Seng’s risky loansIntended sale of Hang Seng debt a sign of how UK bank will overhaul retail lender taken private this yearFinancial Times
WORLDJul 10Former top prosecutor in Hong Kong court over injuring man while drink-drivingA Hong Kong prosecutor turned barrister is facing criminal charges over allegations that he seriously injured a man while driving under the influence of alcohol earlier this year. Franco Kuan Bak-on, 45, appeared in Sha Tin Court on Friday to face charges of dangerous driving causing grievous bodily harm and driving a motor vehicle with alcohol concentration in his breath exceeding the legal limit. Police arrested Kuan at around 1.50am on January 11 after he allegedly drove recklessly along Hung...South China Morning Post
DISASTERJul 10‘Extremely hot’ weather in Hong Kong over the weekend as Typhoon Bavi subsidesHong Kong will be “extremely hot” and hit by occasional showers as Typhoon Bavi moves across the seas east of Taiwan towards Guangdong on the weekend, with unstable offshore weather already disrupting a number of flights. The city’s Observatory said that as Bavi moved across Taiwan and then towards the vicinity spanning northern Fujian and southern Zhejiang, its outer airstream would subside, resulting in “mainly fine and extremely hot weather” in Guangdong from Friday to Sunday. “High...South China Morning Post
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