4 d. ago ‘Vicious circle’ for Hong Kong restaurants: how many more on chopping block?

Hong Kong’s restaurant industry faces a bleak second half of the year as both low-cost and high-end operators succumb to the economic slowdown, sector leaders have warned, putting part of the blame on the trend of residents heading across the border to spend. Industry representatives gave their grim assessment on Sunday, just days after King Parrot Group announced it would close nine of its eateries, ending a 33-year run. The move has reportedly left over 100 staff out of pocket to the tune of...

Politics

6 d. ago ‘Embarrassing’: how Hong Kong response to bitumen in water supply shows ‘flaws’

Hong Kong officials have faced criticism over their handling of the discovery of a banned substance in the water supply of two public housing estates, as lawmakers and experts accuse the administration of being slow to respond, failing to show accountability and lacking awareness. A veteran political analyst also called the government’s response “embarrassing”, saying it undermined the city’s efforts to show improvements in public welfare before an anticipated visit by a senior Beijing...

Politics

7 d. ago Hong Kong activist Joshua Wong faces fresh charge of foreign collusion

Hong Kong national security police have levelled a fresh charge against jailed activist Joshua Wong Chi-fung, accusing him of conspiring with fugitive ex-lawmaker Nathan Law Kwun-chung to collude with foreign forces five years ago. Police were seen strengthening security around West Kowloon Court on Friday as they awaited the arrival of 28-year-old Wong, who was escorted to court in a prison van. A charge sheet seen by the Post said Wong conspired with Law and others to instigate foreign...

Politics

8 d. ago Hongkongers demand answers after banned substance found in estate’s water supply

Hong Kong authorities are under increasing pressure to verify whether the freshwater supply at a public housing estate contains bitumen, a substance banned from use in pipes, with experts calling for an investigation to trace the source of mystery black particles and determine if contractors have violated any rules. A source said the government would hold a press conference on Thursday afternoon to release more details of their test results. The water issue at two public rental and subsidised...

Events

8 d. ago Banned substance found in water supply of 2 Hong Kong housing estates

Black particles found in the freshwater supply at two public housing estates are mainly bitumen, authorities have said, while stressing that the water is safe to drink. The government said on Thursday that its tests showed the bitumen, which is banned from use in pipes, was mixed with resin. Residents at two public rental and subsidised estates, Queens Hill Estate and Shan Lai Court in Fanling, first reported the presence of black particles in their drinking water on Friday last week. Director...

Events

8 d. ago Cooperation the only way to avert Hong Kong’s healthcare cost crisis

Hong Kong faces rising hospital fees, insurance premium increases, unprofitable health insurers and high out-of-pocket health spending. This developing healthcare cost crisis is expected to worsen amid the city’s ageing population. Avoiding this crisis requires a transformation in cooperation between healthcare providers, insurers and health authorities, underpinned by technology integration across the whole system. Ignoring the impact of Covid-19, healthcare costs rose by 23 per cent in the...

Events

1 week ago Member loses HK$38,000 as Hong Kong branch of Singaporean 1880 club faces probe

The sudden closure of 1880 Hong Kong, a private members club based out of Singapore, left members reeling, with one losing HK$38,000, paid out for a full-year membership just two months prior, while others have complained to Customs, alleging a violation of the Trade Descriptions Ordinance. The club, located in Quarry Bay’s Two Taikoo Place, operated for only seven months before shutting down last Friday due to “cash flow difficulties”. It has been accused of owing rent and wages to more than...

Politics

1 week ago Hong Kong’s veteran investors face the heat in sinking property market

Hong Kong’s commercial market declines have left some of the city’s once-prosperous veteran investors struggling financially, with experts expecting distressed sales to continue amid plunging property valuations. In April, receivers took over the luxury detached mansion in Pok Fu Lam where “Cassette King” David Chan Ping-chi and his family had lived since the 1980s, marketing it for HK$430 million (US$54.8 million) last week. Chan, who defaulted on a loan of about HK$350 million from Fubon Bank...

Economics

2 w. ago Hong Kong’s crypto industry optimistic about stablecoin ‘legal clarity’

In the days after Hong Kong passed a bill to regulate stablecoins on May 21, people in the industry celebrated the government’s forward-looking stance on the cryptocurrency assets, but its stringent requirements – similar to how it regulated other virtual assets – could be a double-edged sword in the near term. “Regular independent audits and strict disclosure obligations further bolster confidence in the sector, although in the short run it may increase operational costs and limit market entry,...

Politics

2 w. ago Hundreds of poor Hongkongers face cutbacks in essentials when handout ends: poll

Seventy per cent may have to go without essentials, as families worry about impact on children’s education and extracurricular activities.

Politics

3 w. ago Hong Kong’s CK Hutchison stresses need for war chest in face of geopolitical tensions

Chairman Victor Li says company must maintain fiscal health, as another senior manager stresses US$23 billion ports deal will comply with regulations.

Events

3 w. ago Hong Kong public schools to face 10% cut in major grant in coming academic year

Apart from cut to Expanded Operating Expenses Block Grant, semi-private schools under direct subsidy scheme also face 2 per cent funding reduction.

Politics

3 w. ago Hong Kong facing ‘challenges’ of rising unilateralism, Beijing official warns

Cui Jianchun, Beijing’s top envoy in Hong Kong, also calls on city’s youth to ‘take up responsibility for their home soil’.

Events

3 w. ago ‘Reprehensible’: Hong Kong slams US senators behind latest sanctions bid

Cui Jianchun, Beijing’s top envoy in Hong Kong, also warns of impact of rising unilateralism and protectionism.

Politics

3 w. ago Hong Kong prepares for a grand homecoming as mainland firms face US delisting threats

Delisting pressure on US-listed companies from the mainland could be a jackpot for Hong Kong markets.

Events

4 w. ago Hong Kong woman faces court after leaving stillborn baby in Taiwan hospital freezer

Taking into account Huang’s circumstances of being away from home, financial and emotional challenges, court shows leniency.

Events