40 Tamils in UK get reprieve

Dozens of failed Tamil asylum seekers who were due to be sent back to Sri Lanka today can stay in Britain after a court blocked their deportation, t...



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British councilor who suggested killing disabled quits

A UK councilor who stirred outrage by saying children with disabilities “should be put down’’to save taxpayers money has resigned, media reports said....



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32556

India growth losing steam

India's economic slowdown deepened in the October-December quarter, expanding by 4.5 percent on an annual basis, official data showed today. The In...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32555

Britain vows to cut immigration to tens of thousands, student numbers shrink by 42,000

Britain has vowed to cut down the number of migrants to tens of thousands as figures show the net intake has fallen in line with stated government obj...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32554

Heavyweights tussle at Russia’s World Sevens

Russia unveiled the draw for what is set to be a fiercely-contested Rugby World Cup Sevens in Moscow, where holders Wales will clash with sevens spec...



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Rage erupts in Dhaka after Islamist’s death verdict

A Bangladesh war crimes court sentenced a top Islamist opposition figure to death, a verdict that unleashed a new wave of deadly clashes between poli...



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ManU set Bangkok encounter

The current Premier League leaders will tackle the Singha All Star XI at Bangkok's Rajamangala Stadium on July 13. United have made four previous vis...



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Final engagements for outgoing pontiff

Pope Benedict XVI vowed “unconditional obedience’’ to his successor on his historic final day as leader of the world's 1.2 billion Catholics, when he...



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Greece fails on tax collection: auditors

EU and IMF auditors have criticised Greece for failing to address long-term failings on tax collection, a key requirement for the crisis-hit country t...



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India lifts social spending, reins in defense outlay

India increased defense spending by only 5 percent for the next financial year, far below previous increases with the military one of the apparent l...



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Fiscal surplus tops HK$81.9b for first ten months

There was a surplus of HK$41.9 billion in the month of January, thereby bringing a surplus of HK$81.9 billion up to end of January, 2013, the governme...



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Indian youth charged with murder over Delhi gang-rape

A 17-year-old youth being tried in a juvenile court over the fatal gang-rape of a young Indian girl on a bus in New Delhi in December was formally c...



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Despite losses RBS chief pockets hefty bonus

Royal Bank of Scotland chief executive Stephen Hester will pocket a bonus despite the bank reporting that its net losses nearly tripled to £5.97 billi...



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Two teens to return to HK after being abducted in Argentina

Two Hong Kong girls who were reportedly abducted in Argentina is set to return to Hong Kong tomorrow. Police are investigating whether they were invol...



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Sun Hung Kai H1 profit falls, but beats forecast

Sun Hung Kai Properties, the world’s No 2 property company by market value, posted a 1.9 per cent drop in underlying profit for the fiscal first half to beat forecasts, and was upbeat on the sector’s outlook despite tightening measures.

Analysts attributed the weaker results to an absence of large-scale projects during the period and have said investors should watch the progress of the company’s new launches closely after a series of new measures to cool the overheated Hong Kong property market.

via Business feed http://www.scmp.com/business/companies/article/1163257/sun-hung-kai-h1-profit-falls-beats-forecast

HMV Hong Kong snapped up in private equity deal

A Hong Kong-based private equity firm agreed to buy music retail chain HMV's Hong Kong and Singapore businesses. AID Partners, which focuses on medi...



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Eurozone inflation eases to ECB target in January

Eurozone inflation fell back towards the European Central Bank's medium-term target in January, easing to 2.0 percent, EU data confirmed on Thursday. ...



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WHO says thyroid cancer risks high for Fukushima girls, demands food and water monitoring

Female babies exposed to radiation from nuclear reactor explosions at Tokyo Electric Power Co’s Dai-Ichi plant in Fukushima, Japan, following the eart...



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Caterpillar plans to ax 1,400 jobs in Belgium

US heavy machinery firm Caterpillar plans to slash 1,400 jobs at its Gosselies site in Belgium, one of Caterpillar's largest facilities in Europe, ma...



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Tokyo sends fighters head off China plane

Japan scrambled fighter jets on Thursday to head off a Chinese government plane flying towards disputed islands in the East China Sea, the defence mi...



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Govt to sell 46 residential plots in 2013-14

The government plans to auction 46 residential plots which can provide a total of 13,600 flats in 2013-14, said Development Minister Paul Chan Mo-po. ...



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Germany marks lowest jobless total in five months

The German labour market is continuing to defy the eurozone debt crisis, with the jobless total falling to its lowest level in five months in February...



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Balloon passed recent check before crash

The hot-air balloon which crashed in flames during a flight above Egypt, killing nine Hong Kong tourists and 10 other people, is reported to have just...



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Man gets jail time for attemping to help girlfriend escape

A man has been jailed for 20-months by a District Court judge for helping his girlfriend's attempted escape as she was being taken by two policewomen ...



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Govt to trash application list system

The government will cease application list system starting next fiscal year starting April, said Development Secretary Paul Chan Mo-po. Instead, the g...



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FS expects tough measures to drag income from stamp duty down

Financial Secretary John Tsang Chun-wah said the stamp duty revenue from property and stock trading would drop about HK$3 billion to HK$40 billion nex...



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Staff ordered to do homework for daughter of boss

A Chinese boss ordered nine employees to do his 12-year-old daughter's homework, a report said, as office tyranny meshed with a parent's desire to se...



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EU to probe solar glass trade against China

The European Commission launced an anti-dumping probe on Thursday targeting Chinese exports of solar glass following a complaint filed earlier this mo...



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Sun Hung Kai appoints former banker as director

Sun Hung Kai Properties (0016) has appointed Margaret Leung Ko May-yee as an independent non-executive director of the firm, with effect from tomorrow...



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Sony cashes on sale of Tokyp office

Sony said Thursday it has sold one of its main buildings in Tokyo for US$1.2 billion as the embattled Japanese electronics giant offloads assets to h...



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European stocks open higher

European equities climbed Thursday, mirroring gains in Asia and on Wall Street, despite ongoing political deadlock in Italy after inconclusive electio...



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Spain recession better than expected

Spain's economy shrank by 1.4 percent in 2012, a slightly better performance than the decline of 1.5 percent forecast by the government, official fig...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32527

Sun Hung Kai posts HK$11.5b earnings

Sun Hung Kai Properties (0016), whose co-chairmen are facing a graft investigation, posted underlying profit of HK$11.5 billion in the first half ende...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32526

Hang Seng bounces 1.9pc at close

Shares in Hong Kong jumped 1.96 percent, in line with a regional advance, after the Dow on Wall Street finished at a more than five-year high. The b...



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Samsung claim against Apple shot down in Japan

A Japanese court Thursday rejected a claim by Samsung that Apple stole its technology, in the latest round of a global legal battle between the smartp...



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Ping An move points to curbs on property

A move by Ping An Bank to ban its regional branches from approving mortgages may signal that Beijing is set to tighten controls on the property market to calm record prices, sources said yesterday.

via Business feed http://www.scmp.com/business/banking-finance/article/1160656/ping-move-points-curbs-property

China Vanke says no plans for global role for Hong Kong arm

Shares of the Hong Kong-listed company had risen more than 17 per cent since the beginning of the year to yesterday's close of HK$15.02, as investors bought the idea that it could be used as an offshore investment division of China Vanke, the mainland's biggest developer.

via Business feed http://www.scmp.com/business/china-business/article/1160658/china-vanke-says-no-plans-global-role-hong-kong-arm

Advertising spending in Hong Kong to see modest gains this year

That conservative outlook was revealed in the latest survey, conducted by the Hong Kong Advertising Association and market-measurement firm Nielsen between December last year and early this month, on spending projections of about 100 key advertising and marketing executives.

via Business feed http://www.scmp.com/business/economy/article/1160657/advertising-spending-hong-kong-see-modest-gains-year

Xinchen China on funding quest to ramp up output

Xinchen China Power, a manufacturer of light-duty petrol and diesel engines, plans to raise US$113 million through a Hong Kong initial public offering to expand its production capacity.

via Business feed http://www.scmp.com/business/banking-finance/article/1160731/xinchen-china-funding-quest-ramp-output

MGM China builds presence in Cotai strip with new resort

The joint venture between Pansy Ho Chiu-king and MGM Resorts International now runs one casino on the Macau peninsula. It lacks a presence on the busy Cotai strip, which hosts a cluster of casinos operated by rivals including Sands China and Galaxy Entertainment.

via Business feed http://www.scmp.com/business/china-business/article/1160733/mgm-china-builds-presence-cotai-strip-new-resort

PCCW predicts rapid growth for Now TV after Premier League win

PCCW, which is controlled by the media and telecommunications mogul Richard Li Tzar-kai, reported yesterday a consolidated net profit for 2012 of HK$1.66 billion, up from HK$1.61 billion in 2011.

via Business feed http://www.scmp.com/business/companies/article/1160734/pccw-predicts-rapid-growth-now-tv-after-premier-league-win

Suntech Power in talks with Wuxi government on bailout

Suntech Power, the mainland solar-panel maker with US$541 million in bonds due next month, is talking with the government of Wuxi about the possibility of financial support.

via Business feed http://www.scmp.com/business/china-business/article/1160336/suntech-power-talks-wuxi-government-bailout

Huawei and Alcatel-Lucent take wireless battle to service level

Carriers coping with the explosion of data traffic and slowing consumer spending have turned to equipment vendors to reduce costs and improve network quality. That has boosted demand for services contracts, at a time when sluggish equipment spending has weighed on sales at infrastructure makers.

via Business feed http://www.scmp.com/business/companies/article/1160342/huawei-and-alcatel-lucent-take-wireless-battle-service-level

John Tsang's big problem is how to hide Hong Kong's cash

Financial Secretary John Tsang Chun-wah was up to his usual tricks with the budget yesterday. His overriding problem is how to hide the oodles of cash that flow into the government coffers. There was the usual "magic" when the budget surplus of HK$3.5 billion forecast last year turned into a surplus of HK$65 billion. For some reason, this appalling inability to get anywhere near the right figure is almost viewed with pride.

via Business feed http://www.scmp.com/business/article/1160438/john-tsangs-big-problem-how-hide-hong-kongs-cash

AIA profit rises 89pc to beat market target

AIA Group's net income rose to US$3 billion, or 25.1 US cents a share, in the year to November from US$1.6 billion, or 13.3 US cents a share, a year earlier, the company said in a statement to the stock exchange yesterday. The figure beat the US$2.7 billion average estimate of 12 analysts.

via Business feed http://www.scmp.com/business/companies/article/1160338/aia-profit-rises-89pc-beat-market-target

At last Tsang accepts that our fiscal policy needs an overhaul

At least some of the criticism directed at John Tsang Chun-wah recently must have stung. In his budget speech yesterday, the financial secretary attempted to defend his piecemeal approach to fiscal policy while simultaneously promising to set up a working group to formulate "more comprehensive planning for our public finances".

via Business feed http://www.scmp.com/business/article/1160441/last-tsang-accepts-our-fiscal-policy-needs-overhaul

Palestinians ask runners to boycott Jerusalem marathon over ‘racist’ Israeli policies

The PLO has called for runners and sponsors to boycott the 2013 Jerusalem marathon, saying involvement implies acceptance of Israel's illegal annexat...



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Brussels kills Ryanair bid for carrier

The European Commission said it barred a third attempt by low-cost airline pioneer Ryanair to take over its Irish rival Aer Lingus due to concerns pa...



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Swiss gunman kills self in factory rampage

At least three people died, including the gunman, in a shooting today at a factory in central Switzerland, the country's RTS television reported. A...



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Kerry in Paris, Mali operation high on agenda

The newly appointed US Secretary of State John Kerry arrived in Paris on Wednesday for talks with French officials, with Paris-led military operation ...



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Li Na skips HK event

Li Na will miss an exhibition match in Hong Kong after an ankle injury she sustained in last month's Australian Open final failed to respond well en...



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Sweden confirms Ikea meatballs tainted

The producer of Ikea meatballs withdrawn from shelves in 25 countries has found horsemeat in its products, Sweden's national food agency SLA said to...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32468

British actor in Coronation Street faces child rape rap

A famous British actor in a well known national soap opera has been charged with a number of sexual offences including rape of a girl under 16, media ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32467

Swiss gunman kills several at factory rampage

Several people were killed or seriously wounded during a shooting at a factory in central Switzerland, police said. A hotline was set up for famili...



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EU buiness, consumer more optimistic in February: data

EU business and consumer confidence improved for a fourth consecutive month in February, official data showed Wednesday, even as the outlook remained...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32465

US lawyer visits site of stolen Cambodian statue in Sotheby’s hands

A US government lawyer assisting Cambodia’s legal bid to make auction house Sotheby's return a 10th century Khmer statue toured the site from which t...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32464

Nadal denies skipping Indian Wells

Rafael Nadal has denied Spanish media reports that he will not take part in the Masters Series events in Indian Wells and Miami next month, as he retu...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32463

Depressed Britain sinks deeper into the mire

Britain’s economy, overseen by a coalition that has failed to cut the deficit and has heavily borrowed, shrank by an unrevized 0.3 percent in the four...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32462

China inflation tipped to top 3pc in February

China's consumer price index may climb by over 3 percent in February, as the week-long Spring Festival holiday pushed up demand, an analyst said Wedne...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32460

Pope Benedict recalls church turmoil in final audience

Pope Benedict XVI, who is ailing at 85, referred to “stormy waters and headwinds’’ during his pontificate on the eve of his historic resignation but...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32459

Iran, world powers to meet for expert-level nuke talks

Iran and world powers agreed on Wednesday to hold new talks in March and April over the Islamic republic's disputed nuclear drive, with Tehran haili...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32457

Pope arrives in St Peter's Square for final audience

Pope Benedict XVI toured St Peter's Square in his popemobile one last time Wednesday at the start of an audience in front of tens of thousands of pil...



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Alleged rape victim in Maldives sentenced for separate case

A Maldives court has sentenced a 15-year-old alleged rape victim to 100 lashes and eight months under house arrest after she admitted having had prem...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32455

Credit to households contracts again: ECB

Bank lending to private households in the euro area contracted again in January as the region's long-running debt crisis continues to choke demand f...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32454

(NBA) Cluppers crash Bobcats

With 12 three-pointers and 14 slum dunks, the Los Angeles Clippers blew out the Charlotte Bobcats 106-84 on Tuesday night at home. The Clippers had a...



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Beijing hails Lien Chan's visit

The visit of Honorary Kuomintang Chairman Lien Chan has positive significance to mainland-Taiwan exchanges and high-level interaction, according to a ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32452

(2013-2014 Budget) Parties give mixed reactions to budget

The DAB Party said it was pleased with the relief measures announced in the budget. But its vice-chairwoman, legislator Starry Lee Wai-king, said th...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32451

HKEx profit falls

Hong Kong Exchanges and Clearing (0388) says profit for last year fell 20 percent on declining average daily turnover, rising costs and "a bleak marke...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32450

Sino books HK$4.4b profit

Sino Land (0083), a small property developer controlled by billionaire Robert Ng Chee Siong, said underlying earnings grew 80.5 percent to HK$4.48 bil...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32449

Spain cuts budget deficit in 2012

Prime Minister Mariano Rajoy announced Wednesday that Spain slashed its public deficit to 6.7 percent of economic output in 2012, a drastic cut in the...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32448

Criminal activity ruled out in Egypt balloon crash

An initial probe into a hot air balloon crash that killed up to 19 tourists in Egypt has ruled out any criminal activity as a cause of the accident, ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32447

New demolition technology has Tokyo hotel quietly shrunk

Passers-by in Tokyo's busy Akasaka district have started to notice something odd about a 40-floor hotel -- it has shrunk to about half its original he...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32446

China urged to implement reforms

China's most prominent scholars, journalists and activists have released an open letter urging leaders to implement political reforms, for the second ...



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Palatial retreat for the pontiff

Once he steps down tomorrow, Pope Benedict XVI will begin his retirement in the papal summer residence at Castel Gandolfo, a sumptuous villa outside ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32444

European stocks rebound

Europe's main stock markets rebounded slightly on Wednesday, after slumping the previous day on uncertainty over the outcome of elections in Italy, d...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32443

Hang Seng ends higher

Hong Kong shares ended 0.25 percent higher on Wednesday after US Federal Reserve chief Ben Bernanke soothed concerns that the bank's huge monetary ea...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32442

Hong Kong shares close up 0.3pc, above two-month low

Hong Kong shares finished just above a two-month low in choppy Wednesday trade, as strong gains for AIA Group offset weakness in Esprit on a day when corporate earnings came into sharp focus.

The Hang Seng Index closed up 0.3 per cent at 22,577 points after closing on Tuesday at its lowest since December 21. The China Enterprises Index of the top Chinese listings in Hong Kong climbed 0.4 per cent.

via Business feed http://www.scmp.com/business/money/stock-talk/article/1159816/hong-kong-shares-close-03pc-above-two-month-low

Guam man denies murder in tourist attack

A Guam man who killed three Japanese tourists and injured 11 in a frenzied knife attack pleaded not guilty on Wednesday to murder on the grounds of m...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32441

(2013-2014 Budget) Changing tax base an option: FS

Financial Secretary John Tsang Chun-wah said the current tax base is quite small, as more than half of the working population does not have to pay tax...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32440

Japan robot suit given global safety certificate

A robot suit that can help the elderly or disabled get around was given its global safety certificate in Japan on Wednesday, paving the way for its wo...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32439

Home sales prop up NWD earnings

Developer New World Development (0017), which owns residential properties and operates shopping malls and hotels including the Grand Hyatt Hong Kong, ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32438

Release of Liu Xiaobo urged

More than 140 Nobel laureates led by archbishop Desmond Tutu urged China on Wednesday to release Nobel Peace Prize winner Liu Xiaobo, a rights activis...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32437

(2013-2014) Middle-class not left out: FS

Financial Secretary John Tsang Chun-wah said various measures, including rates waive, tax cut and others, are meant to help middle-class families. Cl...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32436

German consumer confidence improves slightly: survey

Consumer confidence in Germany is continuing to rise amid growing optimism that Europe's biggest economy has put the worst of the debt crisis behind ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32435

(2013-2014 Budget) Chief of Community Care Fund panel welcome budget injection

Law Chi-kwong, chairman of the Community Care Fund Task Force under the Commission on Poverty, said he welcomed the proposal in the 2013-14 budget to ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32434

Airlines 'must pay' for 3-hour delays, says EU court

Airlines were liable to compensate passengers on connecting flights who arrived at least three hours late at their final destination, the European Union's highest court said.

"The fact that the original flight was not delayed beyond the limits laid down by EU law does not affect the right to compensation," the EU Court of Justice ruled yesterday.

The fact that the original flight was not delayed beyond the limits laid down by EU law does not affect the right to compensation

The ruling by the Luxembourg-based court cannot be appealed.

via Business feed http://www.scmp.com/business/article/1159398/airlines-must-pay-3-hour-delays-says-eu-court

French fume over mocking snub by US businessman

The grim routine of economic life in Europe and efforts to get to grips with intractable problems of high unemployment, heavy deficits and debts were enlivened last week by an extraordinary spat between an American industrialist nicknamed "The Grizz", outraged French workers and a Socialist minister.

via Business feed http://www.scmp.com/business/companies/article/1159322/french-fume-over-mocking-snub-us-businessman

Hong Kong's relationship with mainland is no one-way street

If you were to judge Hong Kong's relationship with the mainland solely on the basis of what government officials here say, you would get a thoroughly confused picture.

via Business feed http://www.scmp.com/business/article/1159393/hong-kongs-relationship-mainland-no-one-way-street

Blackstone seeks capital for Asia real estate fund

Blackstone, one of the world's largest investment houses, is pitching to large institutional investors in Hong Kong and mainland China to help it launch a new real estate fund for Asia, where property prices are rising strongly.

via Business feed http://www.scmp.com/business/banking-finance/article/1159408/blackstone-seeks-capital-asia-real-estate-fund

Rabobank faces US$440m-plus fine over rate-rigging

Rabobank, the second-biggest Dutch lender, was next in line to reach a settlement with the United States Commodity Futures Trading Commission, the Department of Justice, and Britain's Financial Services Authority over claims it tried to manipulate benchmark interest rates, said four people with knowledge of the probe who asked not to be identified because the talks were private.

via Business feed http://www.scmp.com/business/article/1159407/rabobank-faces-us440m-plus-fine-over-rate-rigging

HK Ferry braves new property curbs with Green Code homes launch

The subsidiary of Henderson Land Development said yesterday that it would put the Green Code project on the market next month after obtaining sales consent from the government, which it expects shortly.

via Business feed http://www.scmp.com/business/companies/article/1159406/hk-ferry-braves-new-property-curbs-green-code-homes-launch

China gaining on top Thai trade spot

China might overtake Japan as Thailand's biggest trading partner within three years, fuelled by Chinese investments in the Southeast Asian country, according to Srirat Rastapana, director general of international trade promotion at Thailand's Ministry of Commerce.

via Business feed http://www.scmp.com/business/commodities/article/1159405/china-gaining-top-thai-trade-spot

Competition from entry-level smartphones pushes TCL to likely loss

Mobile phone maker TCL Communication expects to see losses for the first quarter of 2013, although the company said growth might be restored in the following three months after a complete launch of its new smartphones.

via Business feed http://www.scmp.com/business/companies/article/1159411/competition-entry-level-smartphones-pushes-tcl-likely-loss

NWS seeks to splash cash for acquisitions overseas

Infrastructure and services conglomerate NWS Holdings, which was sitting on more than HK$6 billion in cash at the end of 2012, is looking at acquisitions in Britain, Europe and Australia, according to the company's executive director, Tsang Yam-pui.

via Business feed http://www.scmp.com/business/companies/article/1159410/nws-seeks-splash-cash-acquisitions-overseas

Gains in mobile and fixed-lines boost HKT profit by 32pc

Hong Kong Telecommunications (HKT), which reported a 32 per cent increase in net profit for last year, said its mobile operation could have posted more gains if it was not constrained by Apple's phone-locking policy.

via Business feed http://www.scmp.com/business/article/1159409/gains-mobile-and-fixed-line-businesses-boost-hkt-profit-32pc

Rain puts extra drain on Asian Citrus' bottom line

Persistent heavy rain from April to August last year led to higher production costs for orange plantation operator Asian Citrus. Typhoon Vicente triggered rainstorms and gales in the Guangxi Zhuang autonomous region, where the company's plantations are located.

via Business feed http://www.scmp.com/business/companies/article/1159413/rain-puts-extra-drain-asian-citrus-bottom-line

Vietnam and India lead Hong Kong's export growth

Vietnam and India may replace Japan and Germany in the rankings of Hong Kong's top five trading partners by 2030 if the city's exports to the two countries continue to grow at their current pace.

HSBC said yesterday that while the mainland and North America would remain the city's biggest markets for many years to come, Vietnam and India together would be the targets of more than 60 per cent of Hong Kong's export growth in the next three years, which the bank forecasts at 11 per cent per annum.

via Business feed http://www.scmp.com/business/economy/article/1159412/vietnam-and-india-lead-hong-kongs-export-growth

One-off items take Bank of East Asia to record profit

The surge came mainly from a one-off fair-value gain from financial instruments and trading profit, accounting for a combined HK$1.6 billion. Excluding those items, pre-tax profit increased 3.5 per cent to HK$5.95 billion.

via Business feed http://www.scmp.com/business/article/1159325/one-items-take-bea-profit-record

Deal on carbon emissions up in the air

Mainland Chinese carriers are already concerned about three options tabled by the International Civil Aviation Organisation (ICAO) for discussion at the assembly in September of the organisation's 190 member states.

via Business feed http://www.scmp.com/business/companies/article/1159328/deal-carbon-emissions-air

New rule to give A shares a boost

The China Securities Regulatory Commission is expected to unveil in the near future a new rule governing the opening of A-share trading accounts, which will, for the first time, define residents from the three areas as qualified A-share investors if they live on the mainland.

via Business feed http://www.scmp.com/business/article/1159331/new-rule-give-shares-boost

Euro zone stocks at 3-month lows on Italy stalemate

Euro zone shares sank to three month lows on Tuesday after an Italian election stalemate renewed concerns about the future of the euro zone and sent investors in search of insurance against a deeper sell-off.

via Business feed http://www.scmp.com/business/economy/article/1159422/euro-zone-stocks-3-month-lows-italy-stalemate

Bernanke insists Fed stimulus aided growth, warns against budget cuts

US growth has rebounded after the flat fourth quarter, but remains “somewhat uneven'' and vulnerable to looming budget cuts, Federal Reserve Chairma...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32361

(Luxor tragedy) Body count rises to 19

The death toll from the hot air balloon explosion in Egypt's ancient temple city of Luxor during a sunrise flight has risen to 19 tourists, including ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32360

Street advances ahead of Fed chief's testimony

US stocks opened solidly higher in anticipation of congressional testimony by Federal Reserve Chairman Ben Bernanke. The markets were also buoyed by...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32359

Oxford favors white candidates, shuns ethnic minorities, new data reveal

The prestigious Oxford University, which has received millioons in donations from Hong Kong tycoons, is keeping ethnic minorities out, a report revea...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32358

4,000 jobs go at JPMorgan Chase

US bank JPMorgan Chase plans to slash 4,000 jobs this year as part of a cost-cutting program, according to the company's presentation to investors t...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32357

US home market shows signs of life

US home prices notched up solid gains in the past year, recording the most gains in more than six years, a survey said today. The S&P/Case Shiller co...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32356

Cricketer Maynard high on ecstasy, cocaine when killed

One of English cricket's rising stars died after being electrocuted on a railway line then struck by a train as he attempted to flee police while on...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32355

Battered Le Bleus build up for next game

France coach Philippe Saint-Andre called up second row forward Sebastien Vahaamahina and fullback-cum-winger Maxime Medard into his 23-man squad for t...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32354

Brussels reminds Rome of debt, deficit pledges

The EU's executive said it had heard “the message of concern,’’ sent by dissatisfied Italian voters but expected Rome nevertheless to stick to its pl...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32353

Defiant Japan likens whale slaughter to kangaroo and dog-eating cultures

Japan's fisheries minister said Tokyo will never stop hunting whales, despite fierce criticism from other nations and violent clashes at sea with mil...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32352

DEADLY RIDES IN FLOATING BASKETS

The explosion of a hot air balloon, killing up to 19 tourists, over Egypt's Luxor is the most deadly accident of this type over the past two decades...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32351

(Luxor tragedy) Gas leak may have triggered fatal balloon blast

A hot air balloon exploded and plunged to earth at Egypt's ancient temple city of Luxor during a sunrise flight today, killing up to 19 tourists, inc...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32350

HKT slams Apple over SIM lock

Apple has been using the SIM lock technology to limit the 4G connectivity of iPhone by different telecom operators. Hong Kong Telecom (6823) managing...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32349

PBOC drains liquidity from banks

The People's Bank of China, China's central bank, continued to drain liquidity from the open market on Tuesday via 28-day repurchase agreements worth ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32347

Bolt signed up at Paris Diamond League

Olympic sprint champion Usain Bolt has been signed up to run the 200m at the Diamond League meeting in Paris in July, organisers said on Tuesday. "Wi...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32346

Govt looks to reduce construction waste

The construction industry plans to form an association to devise ways to reduce the amount of waste it produces. This currently amounts to some 3,000 ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32345

Rodman and NBA delegates visit N Korea: Xinhua

Retired US basketball superstar Dennis Rodman is among a group of current and former NBA coaches and players visiting North Korea, Chinese state medi...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32344

BoE chief warns of monetary easing

The Bank of England governor warned Tuesday that monetary easing was no economic cure-all, while dismissing fears over a global currency war as Tokyo...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32343

(Update) Contradicting reports on fatal Egypt balloon accident

A hot air balloon caught fire and exploded over Egypt's ancient temple city of Luxor during a sunrise flight on Tuesday, killing up to 19 tourists, i...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32342

Berlin urges Rome to stay on reform course

Germany's foreign minister urged Italy to continue its policy of reforms after an inconclusive election and stressed that a stable government must b...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32340

Legco following rules over amendments

The President of the Legislative Council, Jasper Tsang Yok-sing, says that its secretariat will work according to the rules, when dealing with nearly ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32341

China defends record on protecting endangered animals

China has defended its record on protecting endangered species after an environmental group accused it of allowing the sale of captive-bred tiger skin...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32339

Chinese navy gets new stealth frigate

State media say China's navy has taken delivery of a new type of stealth frigate. The People's Liberation Army Daily says the ship, identified as a Ty...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32338

Telecoms growth powers HKT profits to HK$1.6b

HKT Trust (6823) said today net income grew 32 percent to HK$1.61 billion in the first full year since the listing of the trust in November 2011. Rev...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32337

Hong Kong stocks end 1.3pc lower

Hong Kong shares fell 1.32 per cent on Tuesday, losing all their gains for 2013 after elections in Italy failed to produce a winner, fuelling fears of gridlock that could spark a new crisis in the eurozone.

The benchmark Hang Seng Index slipped 300.39 points to 22,519.69 – below its December 31 close of 22,656 – on turnover of HK$67.96 billion.

In Italy results from Sunday’s election indicated there would be no clear winner, while the biggest gainer was a protest party run by a popular comedian.

via Business feed http://www.scmp.com/business/money/stock-talk/article/1159109/hong-kong-stocks-end-13pc-lower

Ikea pulls meatballs in Asia

Swedish furniture giant Ikea has expanded to 24 the number of countries where it has pulled its meatballs from sale over fears that the popular food ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32336

Nestles buys US medical firm Pamlab

Swiss food giant Nestle said Tuesday that it had acquired Pamlab, a US-based company specialised in medical nutrition, as the company pushes further ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32335

Japan approves HK$1 trillion stimulus budget

Japan's parliament on Tuesday passed a HK$1.1 trillion extra budget that forms a key part of Prime Minister Shinzo Abe's efforts to tackle the deflat...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32334

(Update) Only two confirmed survival in Egypt balloon crash: travel agent

The nine Hong Kong tourists involved in the hot air balloon explosion in Egypt have not yet been confirmed dead, said Kuoni Travel general manager Ray...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32333

(NHL) Hawks beat Oilers, chase streak record

Slovakia's Marian Hossa scored 1:44 into overtime as the Chicago Blackhawks extended their record for the best start in NHL history by beating the Edm...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32331

World powers in nuke talks with Iran

World powers were Tuesday offering Iran a softening of sanctions in exchange for concessions over its controversial nuclear programme, in crunch talk...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32330

Milan plunges, Europe stumbles over Rome political deadlock

Stocks in Milan plunged 5 percent in early trading today following a deadlocked election that renewed concerns of more woes in the euro zone. Banking ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32329

Cop probe Samsung managers over chemical leak

South Korean police said Tuesday they were investigating three Samsung managers for possible negligent homicide after a deadly toxic chemical leak at ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32328

Hang Seng, Shanghai end lower

Hong Kong shares fell 1.32 percent Tuesday, in line with a regional sell-off, after elections in Italy produced no winner, fuelling fears of gridloc...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32327

Hong Kong keeps top spot as most globalised economy

In its globalisation index, E&Y polled 730 senior business executives worldwide last year to gauge the degree of globalisation relative to the gross domestic product of the economy. Hong Kong led with a score of 7.81 points, followed by Singapore (6.31) and Ireland (5.63).

via Business feed http://www.scmp.com/business/economy/article/1158655/hong-kong-keeps-top-spot-most-globalised-economy

Business Digest, February 26, 2013

KFC launched a campaign to rebuild its battered brand on the mainland after a scandal over misuse of drugs by its poultry suppliers. The fast-food chain promised to tighten quality control and said it had terminated more than 1,000 small producers.

via Business feed http://www.scmp.com/business/china-business/article/1158665/business-digest-february-26-2013

Sharp-Foxconn talks set to end with no stake deal

Sharp's talks with Taiwan's Foxconn Technology over an investment in the Japanese electronics maker will probably end on March 26 without an agreement, said two people familiar with the discussions.

Talks had not led to a deal partly because the companies could not agree on a price after Sharp's shares declined, said one of the people. Sharp shares fell the most in two months yesterday, the biggest decline among companies in the Tokyo Stock Exchange's first section.

Stumbling blocks in the talks also included management control and company strategy, one person said.

via Business feed http://www.scmp.com/business/companies/article/1158644/sharp-foxconn-talks-set-end-no-stake-deal

Citic Resources says no to aluminium smelter purchases

Citic Resources Holdings, the energy and metals arm of state-owned conglomerate Citic Group, will continue to look for acquisition opportunities but will pursue them in a "cautious" manner, its chief executive said yesterday.

The company would not buy aluminium smelting assets because of a global oversupply of the metal and would only consider bauxite and alumina assets, chief executive Zeng Chen said.

via Business feed http://www.scmp.com/business/commodities/article/1158646/citic-resources-says-no-aluminium-smelter-purchases

Troubled Rongsheng talks funds with Citic

People familiar with the matter told the South China Morning Post that Zhang Zhirong, whose family tightly controls Hong Kong-listed Rongsheng, planned to issue new shares in a private placement to one or a group of new investors to raise US$200 million to strengthen the company's financial position.

via Business feed http://www.scmp.com/business/companies/article/1158564/troubled-rongsheng-talks-funds-citic

PayPal's mobile commerce push benefits Hong Kong merchants

Online merchants may be poised to increase shipments into new markets on the back of PayPal's expanding coverage for mobile e-commerce payments service.

PayPal, a unit of internet shopping and auction giant eBay, said the Philippines, Argentina, South Korea, Sweden and Russia were the fastest-growing markets for Hong Kong's online vendors.

via Business feed http://www.scmp.com/business/companies/article/1158648/paypals-mobile-commerce-push-benefits-hong-kong-merchants

Hong Kong bankers say reforms will help establish Qianhai as yuan centre

Moves to create the "Manhattan of the Pearl River Delta" on a patch of reclaimed land west of Shenzhen kicked off with a bang last month, and bankers are bullish over prospects for the future financial hub.

via Business feed http://www.scmp.com/business/banking-finance/article/1158490/hong-kong-bankers-say-reforms-will-help-establish-qianhai

Hong Kong's financial sector remains to be convinced by the benefits of Qianhai

While bankers see big benefits from Qianhai development there is scepticism elsewhere in the financial industry about whether the plan will benefit the sector or the Hong Kong economy as a whole.

Some wonder whether Qianhai, like the many rounds of the Closer Economic Partnership Arrangement (Cepa), will benefit global banks and mainland businesses rather than local brokers, fund houses and insurers.

via Business feed http://www.scmp.com/business/banking-finance/article/1158491/hong-kongs-financial-sector-remains-be-convinced-benefits

New property measures spur selldown in sector

Property stocks were hammered yesterday on concerns the government's fresh curbs would drag down home prices.

Some analysts expect transactions to fall although the city's property prices may not decline too much because of strong demand.

"We do not expect residential prices to drop - demand is coming from locals and there are very few panic sellers," Morgan Stanley analysts said.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1158654/new-property-measures-spur-selldown-sector

French champagne hard sell on mainland

As global champagne consumption goes flat, makers of bubbly are turning to China to make up the difference. After all, cognac has become a huge hit there, and the country now accounts for 22 per cent of worldwide shipments, up from 5 per cent in 2000.

"We think China could change the champagne market in the coming years," said Charles-Armand de Belenet, head of marketing for the champagne division of Pernod Ricard. China is the second-biggest export market for Pernod's Mumm brand and No 3 for sister label Perrier Jouet.

via Business feed http://www.scmp.com/business/china-business/article/1158636/french-champagne-hard-sell-mainland

Jetstar Hong Kong seeks next tourist hot spots

Jetstar Hong Kong Airways, the low-cost carrier (LCC) seeking regulatory approval from the Hong Kong government, said a shortage of landing slots at popular airports is one of the obstacles its operations face.

"We will avoid destinations which are already crowded and served by many of our competitors," said Nick Rohrlach, executive vice-president of Jetstar Hong Kong.

via Business feed http://www.scmp.com/business/companies/article/1158635/jetstar-hong-kong-seeks-next-tourist-hot-spots

Overseas woes erode CLP earnings

While the power company said it would still have to fork out an impairment loss of HK$315 million this year for its new plant in Jhajjar, where utilisation remained at 30 per cent due to a short supply of coal, chief executive Andrew Brandler said its performance should improve in the next six to 18 months.

via Business feed http://www.scmp.com/business/companies/article/1158562/overseas-woes-erode-clp-earnings

Phone firms seek to boost Wi-fi usage away from home

Wi-fi networks, having become a household fixture in the past decade, remains too annoying to use outside the home for many, hindering carriers' ambitions to leverage wireless internet technology.

via Business feed http://www.scmp.com/business/companies/article/1158616/phone-firms-seek-boost-wi-fi-usage-away-home

Time for action on insurance investment-linked products

The best news heard last week is that our securities watchdog will look into the regulation of investment-linked insurance products - a good move that should have come earlier. But it is still not too late.

Securities and Futures Commission chairman Carlson Tong Ka-shing said the regulator was talking to the government on how to tighten controls over these products, which, despite their name, were more like investment products.

via Business feed http://www.scmp.com/business/article/1158640/time-action-insurance-investment-linked-products

'Big data' now the key to television programming success

In the television business, there is no such thing as a sure thing. You can have a gold-plated director, a bankable star and a popular concept and still, it is just a roll of the dice. Or is it?

In any business, the ability to see into the future is the killer app, and Netflix may be getting close with House of Cards.

via Business feed http://www.scmp.com/business/companies/article/1158618/big-data-now-key-television-programming-success

Transparency may not always be a virtue

Full disclosure of company accounts the right thing to do but it is different story when it comes to stock market dealings.

via Business feed http://www.scmp.com/business/article/1158561/transparency-may-not-always-be-virtue

Twitter attacked over lack of security after Burger King account is hacked

While most Americans were winding up their Presidents' Day holiday weekend last week, the phones at the headquarters of HootSuite, a social-media management company in Vancouver, Canada, began to ring.

Burger King's Twitter account had just been hacked. The company's logo had been replaced by a McDonald's logo, and rogue announcements had begun to appear. One was that Burger King had been sold to a competitor; other posts were unprintable.

via Business feed http://www.scmp.com/business/companies/article/1158617/twitter-attacked-over-lack-security-after-burger-king-account

Was it a leak or a plant that moved the Shanghai Index?

Those of you who read the column by my colleague George Chen yesterday will have learnt of the conversation that occurred between Cheng Dinghua, an award-winning strategist at Essence Securities, and Xu Xiang, a fund manager at Zexi Investment, which ended up on the internet.

Investors were apparently shocked to learn that their private views differed markedly from what they were saying in public. Privately the two felt the Shanghai stock market would decline, whereas in public they were saying that Xi Jinping's new leadership was a buying opportunity and stocks would rise.

via Business feed http://www.scmp.com/business/article/1158572/was-it-leak-or-plant-moved-shanghai-index

High dividend payout sparks rally in Anta Sports Products shares

Shares of Anta Sports Products rose as much as 4.7 per cent yesterday, driven by the mainland sportswear retailer's plan to pay high dividends despite a sharp fall in profit.

Some analysts said the sportswear industry on the mainland had not bottomed out yet and this year would be even tougher for major players such as Anta.

Anta rose to HK$7.82 from HK$7.47 after the board recommended a final dividend of 17 HK cents plus a special payout of eight HK cents per share for last year. The stock closed at HK$7.56, up 1.2 per cent.

via Business feed http://www.scmp.com/business/companies/article/1158642/high-dividend-payout-sparks-rally-anta-sports-products-shares

Cash flow is king?

European companies are hoarding more than three times the cash they held a decade ago as the region heads for a second year of recession, putting them at risk of losing out to US rivals boosting acquisitions and investment.

via Business feed http://www.scmp.com/business/economy/article/1158569/cash-flow-king

Expectations high as results season begins for banks

Bank of East Asia (BEA), the largest independent local bank in Hong Kong, is scheduled to announce its full-year results today, kicking off the reporting season for listed banks.

via Business feed http://www.scmp.com/business/banking-finance/article/1158650/expectations-high-results-season-begins-banks

Airlines push for direct sales amid weak market

Airlines are estimated to have this year earned net profit of US$8.4 billion for a margin as thin as 1.3 per cent, a typical year in a highly volatile industry.

via Business feed http://www.scmp.com/business/companies/article/1158643/airlines-push-direct-sales-amid-weak-market

Germany probes into 'organic' eggs

Authorities in Germany said on Monday a probe had been launched into farms suspected of selling eggs as "organic'' but not adhering to the condition...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32282

UK cardinal steps down after 'inappropriate acts' claims

Cardinal Keith O'Brien, Britain's most senior Roman Catholic cleric, has resigned with immediate effect in the wake of allegations of inappropriate b...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32281

Court says Pistorius not required to report to police

Star athlete Oscar Pistorius, who has been charged with murdering his girlfriend, does not have to report to police as part of his bail terms contrar...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32280

Taiwan eyes nuke plant referendum

Taiwan's Premier Jiang Yi-hua said for the first time Monday that the government may support a referendum on the island's half-completed and hugely ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32279

Strauss-Kahn tries to ban book

Disgraced IMF chief Dominique Strauss-Kahn is taking legal steps to stop a controversial new book by Argentinian-born Marcela Iacub detailing their l...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32278

France pressured to cut spending

France needs an extra 6.0 billion euros in revenues next year, the budget minister said on Monday, and the European Central Bank said it had to act fa...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32277

Customs seize meths

Hong Kong Customs yesterday seized about 2 kilograms of methamphetamine at Lo Wu Control Point with an estimated street value of about $1.45 million. ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32276

New technology to speed up rail checks

MTR has introduced a new ultrasound technology to double the speed of its inspection of rail tracks. The new HK$46-million system mounted on a locomot...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32275

Passengers wanted ferry return to pier, inquiry hears

The Lamma ferry disaster inquiry has heard that passengers on board the Sea Smooth had demanded it return to the pier because water was entering their...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32274

Mongkok fire victims lived in sub-divided flats

An inquest has heard that nine people killed in a blaze at a Mongkok building were living in sub-divided flats rented out for several thousand dollars...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32273

HK exports soar in January

Hong Kong exports have surged by 17.6 percent in value in January, compared to the same period last year, to over HK$304 billion. New government figur...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32272

China must step up financial checks: think tank

A top mainland think tank says Beijing should strengthen its monitoring of the financial assets of senior officials. The Chinese Academy of Social S...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32271

Emily Lau to attend UN hearing

The chairwoman of the Democratic Party, Emily Lau Wai-hing, says she'll tell the United Nations Human Rights Committee that Hong Kong's autonomy is un...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32270

Greek central bank says necessary to keep tough action

Recovery of the Greek economy depends on continued policy rigour, the Bank of Greece said on Monday. The central bank warned that the dangers which c...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32269

Four striking Chinese drivers sentenced to jail in Singapore

A Singapore court on Monday sentenced four Chinese bus drivers to jail terms of up to seven weeks after they pleaded guilty to instigating the city-st...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32268

British bond yield goes up after downgrade

The price of British 10-year debt bonds, known as Gilts, fell slightly in morning trading on Monday and the interest rate firmed slightly to 2.144 per...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32267

Italy's trade deficit narrows in January

Italy greatly improved its trade deficit with countries outside the European Union to 2.3 billion euros (HK$23.4 billion) in January, official statis...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32266

CLP warns of surging power bills

The vice-chairman of CLP Power, Betty Yuen So Siu-mai, says that local electricity prices could increase by as much as 30 to 40 percent over the comin...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32265

Hong Kong stocks end 0.17pc higher

Hong Kong shares ended up 0.17 per cent on Monday, in line with a regional advance and despite data pointing to a slowdown in Chinese manufacturing growth in February.

The benchmark Hang Seng Index added 37.64 points to 22,820.08 on turnover of HK$54.60 billion (US$7.05 billion).

British banking giant HSBC said mainland manufacturing growth hit a four-month low in February but remained positive, noting that the world’s second-biggest economy was still recovering slowly.

via Business feed http://www.scmp.com/business/money/stock-talk/article/1158321/hong-kong-stocks-end-017pc-higher

Xi, Lien meet in bid to boost cross-Strait cooperation

Xi Jinping, general secretary of the Communist Party of China Central Committee, on Monday expressed his hope that compatriots from both sides of the ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32264

Samsung launches tablet against Apple's iPad mini

Samsung Electronics, the world's No. 1 smartphone maker, said on Monday that it unveiled its new, upgraded tablet PC at the 2013 Mobile World Congress...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32263

Mozilla to launch Firefox smartphone system

Mozilla Foundation announced Sunday it will launch in mid 2013 its widely anticipated Firefox operating system for smartphones in a direct challenge t...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32262

Singapore doctor to testify in India gang-rape case

A Singapore doctor who performed a post-mortem examination on an Indian gang-rape victim is to testify via videolink Monday in the trial of five men ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32261

New payment system for MasterCard

Credit card giant MasterCard announced Monday the launch of a new digital payment system that lets people use a wide variety of devices including sma...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32260

People's Daily criticizes spoiled generation

The mouthpiece of China's ruling Communist Party on Monday lamented a generation who had never tasted "hard work'' after the son of a general was det...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32259

(Update) Earthquake hits Tokyo

A 5.7-magnitude earthquake hit Japan on Monday, setting buildings in the capital swaying but causing no risk of a tsunami, seismologists said. Natio...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32258

European shares open higher

Europe's main stock markets posted solid gains at the start of trading on Monday, with London's benchmark FTSE 100 index rising 0.37 percent to 6,359...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32257

Hang Seng edges up

Hong Kong shares rose 0.17 percent on Monday, in line with a regional advance and despite data pointing to a slowdown in Chinese manufacturing growth ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32256

(Oscar) Daniel Day-Lewis wins best actor for 'Lincoln'

Daniel Day-Lewis on Sunday won a record third best actor Oscar for his uncanny performance as the 16th US president in Steven Spielberg's political d...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32239

(Oscar) Ang Lee wins best director

Taiwan-born Ang Lee wins best director Oscar for "Life of Pi". This is Lee's second Oscar. He won in 2005 for "Brokeback Mountain, after he was nomin...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32237

(Oscar) List of winners so far

The following is a list of the winners so far at the 85th Academy Awards on Sunday: - Supporting Actor: Christoph Waltz, "Django Unchained.'' -...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32236

Tourism chief says no to mainland curbs

The chairman of the Tourism Board, James Tien Pei-chun, says Hong Kong people shouldn't send negative signals to mainland visitors, as China plays an ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32235

(NHL) Blackhawks down Jackets, extend streak

The Chicago Blackhawks extended their record for the best start in league history, shutting out the Columbus Blue Jackets 1-0 Sunday behind a 28-save ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32234

(Oscar) Adele's Skyfall wins best song

The latest James Bond movie's theme tune ''Skyfall,'' sung by British songstress Adele, won best original song Oscar at the 85th Academy Awards on Sun...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32233

(NBA) Lakers beat Mavs

Kobe Bryant scored a game-high 38 points and became the youngest player in NBA history to surpass the 31,000-point mark as the Los Angeles Lakers beat...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32232

List of Oscar winners, so far

The following is a list of the winners so far at the 85th Academy Awards on Sunday: - Best supporting actor: Christoph Waltz in "Django Unchained''...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32231

Hang Seng flat by break

Hong Kong stocks were flat by the break on Monday, erasing early gains as dealers eyed data showing growth in Chinese manufacturing activity slowed i...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32230

Govt eyes Disneyland expansion

After logging profits for the first time since the Hong Kong Disneyland opened in 2005, the goevrnment is seeking to discuss with the Walt Disney Comp...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32229

China central bank takes lead in economic reform push

China’s readiness to bend retirement rules to keep arch-reformer Zhou Xiaochuan at the helm of the central bank signals clearly that new Communist Party chiefs want to speed economic reform in the country’s most critical development phase in three decades.

via Business feed http://www.scmp.com/news/china/article/1158167/china-central-bank-takes-lead-economic-reform-push

(Oscar) Pi gets early prizes

Ang Lee's "Life of Pi'' won early Oscars Sunday at a musical show where the race for the top Academy Awards was on a knife-edge between frontrunners ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32228

Towngas tariff rise 'moderate': govt

The government says that a tariff increase by Towngas is 'moderate.' The company told a Legislative Council panel that no further rises are planned ov...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32227

US media misquote China-related reports: report

Well-Known US newspapers including the Wall Street Journal and the Washington Post have raised the eyebrows of many Chinese recently in their two ques...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32226

Swansea wins League Cup

Swansea City manager Michael Laudrup said winning the League Cup final on Sunday ranked amongst his proudest moments because they are such a small clu...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32225

(Oscar) Hathaway wins best supporting actress

Anne Hathaway on Sunday won the best supporting actress Oscar for her searing portrayal of the dying prostitute Fantine in musical adaptation "Les Mis...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32224

City beats Chelsea to keep chasing hopes alive

Second-half goals by Yaya Toure and Carlos Tevez earned Manchester City a 2-0 win over Chelsea that gave their fading hopes of retaining the Premier L...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32223

(Oscar) 'Sugar Man' takes best documentary feature

"Searching for Sugar Man,'' about a singer whose musical star faded without a trace until he was rediscovered in South Africa, won the best documentar...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32221

Lien Chan meets Xi Jinping

Communist Party chief Xi Jinping met with former Taiwan vice-president Lien Chen in the Great Hall of the People today. The visit of Chen, honorary c...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32222

(Oscar) 'Amour' wins best foreign language film

"Amour'' by Austrian director Michael Haneke won the best foreign language film prize at the 85th Academy Awards on Sunday, to go with its many other ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32220

China's Yum to step up check on suppliers after chicken scare

Yum Brands will tighten its monitoring of suppliers and improve testing of poultry as it aims to reverse a steep drop in business at its KFC restaurants in China after a chicken safety scare.

In a statement ahead of a media briefing in Beijing on Monday, the company also said it would look to improve its communications with the Chinese government and people in the wake of the scare.

via Business feed http://www.scmp.com/business/companies/article/1158140/chinas-yum-step-check-suppliers-after-chicken-scare

One dead in Japan boat crash

Two fishing boats capsized off the coast of western Japan on Monday after a collision with a Taiwanese cargo ship, leaving one person dead and anoth...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32219

China factory output grow slower in February: survey

China's manufacturing growth hit a four-month low in February but remained positive, British banking giant HSBC said Monday, noting that the world's ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32218

Park swears in first female S Korean president

Park Geun-Hye was sworn in as South Korea's first female president on Monday, vowing zero tolerance with provocations from a nuclearised North Korea ...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32217

(Oscar) 'Brave' named best animated feature

"Brave,'' a Scottish-themed princess tale with a gender equality twist, won the best animated feature Oscar on Sunday, in the latest triumph for big-...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32216

(Oscar) Christoph Waltz wins best supporting actor

Austrian actor Christoph Waltz won the best supporting actor Oscar on Sunday for his role as a dentist turned bounty hunter in Quentin Tarantino's bl...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32215

Nikkei jumps by break

Tokyo stocks were 1.95 percent higher on Monday morning as the yen sank on reports Japan is set to nominate Asian Development Bank president Haruhik...



via The Standard - Breaking News http://www.thestandard.com.hk/breaking_news_detail.asp?id=32214

China manufacturing retreats from two-year high: HSBC flash PMI

Growth in China’s giant manufacturing sector in February pulled back from two-year highs despite racking up a fourth consecutive month of expansion, a private survey showed on Monday, as foreign demand remained unsteady.

The HSBC flash purchasing managers’ index (PMI) for February slipped to 50.4, the lowest in four months and down from January’s final reading of 52.3, which had been the best showing since January 2011.

via Business feed http://www.scmp.com/article/1158109/chinas-feb-hsbc-flash-pmi-retreats-2-year-high

China’s Huawei unveils 'world fastest smartphone' Ascend P2

China’s Huawei, the No 3 smartphone maker behind giants Samsung and Apple, unveiled on Sunday a new mobile, the Ascend P2, which it claims is the fastest in the world.

Sharp-cornered and thinner than a pencil at 8.4mm, the company said it can achieve speeds of 150Mbps, fast enough to download a two-hour high-definition movie in less than five minutes.

The mobile, which has a 4.7-inch, high-definition screen, has a powerful 1.5GHz quad-core processor and is able to use the fourth-generation high speed mobile networks being rolled out worldwide.

via Business feed http://www.scmp.com/business/companies/article/1158107/chinas-huawei-unveils-world-fastest-smartphone-ascend-p2

Carmakers turn to public sector

New-energy vehicles may be the answer to the worsening air quality in the mainland's major cities, but makers of electric and plug-in hybrid cars are delaying their sales plans in the consumer market in anticipation of a new round of government subsidies for buyers of these vehicles.

via Business feed http://www.scmp.com/business/china-business/article/1157766/carmakers-turn-public-sector

Investors shocked to discover fund managers' private views

The past week proved to be a scandalous one for the mainland's stock market.

A private conversation about the market outlook between one of the mainland's most respected analysts and an influential fund manager was secretly recorded by a third party and then leaked to the public.

The impact? What a shock!

via Business feed http://www.scmp.com/business/article/1157757/investors-shocked-discover-fund-managers-private-views

How to make two problems worse with just one policy

Anyone who has followed the headlines in Hong Kong over the last few weeks will know two things: one, homes in the city are blisteringly expensive; and two, the Hong Kong government has money coming out of its ears.

First: the property market. Home prices have doubled in the last four years. As a result, a typical Hong Kong family would have to save every cent it earned for 14 years in order to pay for a typical flat in the city.

Even the minimum downpayment on a mortgage would eat up four full years of household income. It's no wonder people are protesting.

via Business feed http://www.scmp.com/business/article/1157755/how-make-two-problems-worse-just-one-policy

The 40b yuan cost of new emission rule

Stringent new emission standards that will be imposed on mainland carmakers from March 1 may cost the industry about 40 billion yuan (HK$49.28 billion), but well-prepared manufacturers say that for them, it is as much about opportunity as extra costs.

From the beginning of next month, Beijing will become the first city in the world's largest car market to ban registration of petrol vehicles that fall below the new National V emission standard.

Earlier this month, the State Council said the new requirement would be extended to the whole nation by 2017.

via Business feed http://www.scmp.com/business/china-business/article/1157722/40b-yuan-cost-new-emission-rule