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Category: HK Business

Lunar New Year Flowers in Flames as Hong Kong Farmer Burns Unsold Stock

January 29, 2022 admin

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burns Business & Economy Businesses in COVID-19 CCP Virus China China Business & Economy Economy farmer flowers HK Business HK Current Affairs Hong Kong lunar new year World

HONG KONG—Flower farmer Leung Yat-shen has burned thousands of flowers he cannot sell this year as Hong Kong’s stringent measures against the Omicron variant of coronavirus have halved his Lunar New Year demand. Leung, 70, runs a traditional farm in Hong Kong’s rural Yuen Long district growing sword lilies, water lilies, and tulips. He had…

Cathay Pacific to Burn Cash as Crew Quarantine Rules Bite

January 25, 2022 admin

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Cathay Pacific Airways China forecast HK Business Hong Kong

Hong Kong’s Cathay Pacific Airways Ltd. said on Monday that it expected to resume burning cash because of stricter crew quarantine measures after flagging a surprise profit in the second half of 2021 due to cost cuts and a strong cargo market. The airline forecast it would post an annual loss of HK$5.6 billion ($719…

Hong Kong’s Financial Sector Faces Talent Crunch as Expats Head for the Exit

January 25, 2022 admin

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China coronavirus expats financial HK Business Hong Kong sector talent

HONG KONG—Late last year, Tania Sibree quit her well-paid job as a financial services lawyer in Hong Kong and returned to Australia rather than live a moment longer with the city’s strict coronavirus restrictions. Sibree, who said she had enjoyed the previous five years in Hong Kong, is one of hundreds—possibly thousands—of foreign expatriate professionals…

World Shares Mixed After Tech-Led Retreat on Wall Street

December 17, 2021 admin 0 Comment

BANGKOK—World shares fell on Friday after technology companies led Wall Street benchmarks lower as investors weighed the implications of higher interest rates, surging coronavirus cases, and tensions between Beijing and Washington. Benchmarks declined in Paris, London, Frankfurt, and Tokyo but rose in Shanghai. U.S. shares dropped a day after the Federal Reserve said it’s preparing…

World Shares Advance After Fed Steps Up Stimulus Pullback

December 16, 2021 admin 0 Comment

Stocks have climbed in Europe and Asia, tracking Wall Street’s gains, after the Federal Reserve said it would accelerate its pullback of economic stimulus. Shares surged in Paris, Frankfurt, London, and Tokyo. New York futures and oil prices also advanced. The Fed said it would likely raise interest rates three times next year to tackle…

World Shares Mixed Ahead of Fed Policy Statement

December 15, 2021 admin 0 Comment

BANGKOK—World shares were mixed Wednesday as traders awaited the outcome of the last Federal Reserve meeting of this year. Benchmarks rose in Paris, Tokyo, and Frankfurt but fell in Hong Kong and Shanghai after the U.S. Labor Department reported wholesale prices jumped a record 9.6 percent in November from a year earlier. Fed policymakers end…

Asian Shares Shed Gains Ahead of Fed Policy Statement

December 15, 2021 admin 0 Comment

BANGKOK—Stocks were mostly lower in Asia on Wednesday after new U.S. data showed inflation is still running high, putting a spotlight on what action the Federal Reserve will take as it holds its last meeting of the year. Tokyo’s Nikkei 225 index edged 0.1 percent higher to 28,459.72 and the Kospi in Seoul was nearly…

World Shares Mixed as Markets Await Word From Fed Meeting

December 14, 2021 admin 0 Comment

BANGKOK—Shares opened higher in Europe on Tuesday after Asian shares followed Wall Street lower as investors awaited fresh U.S. inflation data and the outcome of a meeting of the Federal Reserve. Benchmarks advanced in Paris, London, and Frankfurt, but fell in Hong Kong, Shanghai, and Tokyo. The Labor Department’s Producer Price Index for November is…

China Evergrande Chairman’s Stake Drops to 59.8 Percent on Forced Selling: Filing

December 10, 2021 admin

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Business & Economy China China Business & Economy Companies evergrande HK Business Hong Kong Markets

HONG KONG—Chairman Hui Ka Yan’s shareholding in embattled China Evergrande Group has dropped to 59.78 percent from 61.88 percent, Hong Kong stock exchange filings showed, in a forced selling by a third party to whom the shares were pledged. The sale involved277.8 million shares, worth roughly HK$492 million ($63.08 million) based on the stock’s Friday…

Global Stocks Follow Wall Street Lower Before US Inflation Data

December 10, 2021 admin 0 Comment

BEIJING—Global stock markets declined Friday ahead of U.S. inflation data that might influence a Federal Reserve decision on when to roll back economic stimulus. London and Frankfurt opened lower. Shanghai, Tokyo, and Hong Kong retreated. Fed officials, due to meet next week, have said plans to wind down bond purchases and other stimulus that is…

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Category: HK Business

Lunar New Year Flowers in Flames as Hong Kong Farmer Burns Unsold Stock

Cathay Pacific to Burn Cash as Crew Quarantine Rules Bite

Hong Kong’s Financial Sector Faces Talent Crunch as Expats Head for the Exit

World Shares Mixed After Tech-Led Retreat on Wall Street

World Shares Advance After Fed Steps Up Stimulus Pullback

World Shares Mixed Ahead of Fed Policy Statement

Asian Shares Shed Gains Ahead of Fed Policy Statement

World Shares Mixed as Markets Await Word From Fed Meeting

China Evergrande Chairman’s Stake Drops to 59.8 Percent on Forced Selling: Filing

Global Stocks Follow Wall Street Lower Before US Inflation Data

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