Tuesday, September 30, 2014

Hang Seng plunges ahead of holidays

Hong Kong shares sank 1.28 percent Tuesday as a pro-democracy demonstration in the city went into a third day while a gauge of Chinese manufacturing...



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China backs Hong Kong leaders against 'illegal' acts: govt

China on Tuesday described major pro-democracy demonstrations in Hong Kong as illegal, adding that it supports the Hong Kong government's handling o...



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Ko urges protests to beware of health condition

Secretary for Food and Health Ko Wing-man today urged protesters to pay attention to their own safety and health condition. "They should drink more w...



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Hospital Authority denies rumor that baby dies as protesters block roads

Hospital Authority denies rumors that the Occupy movement has led to baby's death. A spokesperson said the authority did not receive any report of suc...



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Worst scores of SAR's handling of relations with Beijing: survey

Hong Kong has scored the worse in handling its relationship with the central government at negative 3 percentage points, according to the latest surve...



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Kuk blames protesters

Heung Yee Kuk vice chairman Daniel Lam Wai-keung said the police was pushed to use forces on the protesters. He said if the protests were peaceful eno...



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New Interpol complex in Singapore to boost fight against cyber crime

A new Interpol centre to be opened in Singapore next year will strengthen global efforts to fight increasingly tech-savvy international criminals, o...



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Protesters allow ambulance through

An ambulance managed to get into an area in Mongkok on Tuesday which has been occupied by protestors who are demonstrating against Beijing's restricti...



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Man kicked to death in row over Japan noodle shop seat

A Japanese man who allegedly kicked a fellow diner to death in a fight over seats in a noodle bar calmly returned to his food as the other man lay d...



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Students to attend flag-raising ceremony

Dozens of members of the student-led group, Scholarism, are planning to attend Wednesday's flag-raising ceremony to mark the National Day. Its spokes...



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French public debt over 2.0 trillion euros for first time: data

France's public debt topped the symbolic level of 2.0 trillion for the first time, in the second quarter of the year, the national statistics agency...



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Beijing to stand firm against Hong Kong protests: state media

State media insisted Tuesday that China would not give in to Hong Kong protesters' demands for full democracy and would wait for mass protests in th...



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German retail sales climb in August

German retail sales, a closely watched measure of household confidence, increased in August, official data showed on Tuesday. German retailers' sa...



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Canada demands Google, Netflix data, sets deadline: reports

Canada's broadcast regulator on Monday gave American companies Google and Netflix a three-day deadline to turn over subscriber data or have their test...



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No Japan volcano rescue Tuesday amid fears of new eruption

Rescue operations on a Japanese volcano were called off for the day Tuesday because of fears there could be a fresh eruption, officials said, with a...



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China September PMI misses estimate: HSBC

China's manufacturing activity came in below initial expectations in September, HSBC said Tuesday, adding to pressure for Beijing to address slowing...



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China clears way for Apple iPhone 6 sales: regulator

China has cleared the way for Apple to sell its latest iPhones in the key market by granting it a licence, the industry regulator said Tuesday, afte...



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Shanghai Zhenhua sued by UK firm Fluor for £250m





Britain-based Fluor sued Shanghai Zhenhua Heavy Industry over disputes in a wind farm project in Britain and is demanding £250 million (HK$3.2 billion) in compensation.









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MTR exits in Causeway Bay open

All exits in Causeway Bay station are open, the MTRC said. The Exit L in Central station remains closed, while all other exits have resumed normal....



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'Rescue cases not delayed'

Hong Kong Fire Services Department Ambulancemen's Union chairman Chan Shi-ki said there is no evidence that the Occupy movement has delay fire engines...



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Banking branches suspend services due to protest

A total of 37 branches or offices of 21 banks are affected and temporarily closed, according to reports to the Hong Kong Monetary Authority. The de f...



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China’s factory sector shows signs of steadying





China’s vast factory sector showed signs of steadying in September as export orders climbed, a private survey showed on Tuesday, easing fears of a hard landing but pointing to a still-sluggish economy facing considerable risks.









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PLA on HK streets unlikely: Han Dongfang

A labor activist from the 1989 democracy movement in Beijing's Tiananmen Square, Han Dongfang, says the only way forward in light of the ongoing pro-d...



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Hang Seng falls by lunch

Hong Kong slipped 1.20 percent Tuesday morning as a pro-democracy demonstration that has shut down sections of the financial hub moved into a third ...



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Driver arrested after car running into crowd

A car has sped through the protest on Argyle Street in Mong Kok, and the driver has been arrested for dangerous driving. Nobody is thought to have b...



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Japan factory output falls further in August

Japan's factory output saw a surprise drop and household spending kept falling in August, data showed Tuesday, fanning fears about the impact of Apr...



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(Asian Games) Malaysian gold medal winner fails dope test

Asian Games organisers on Tuesday expelled Malaysia's wushu gold medal winner Tai Cheau Xuen after she failed a drug test, officials said. Tai was ...



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37 bank branches closed in Hong Kong





Bank customers were this morning reminded by Hong Kong’s monetary authorities that many bank branches in protest zones remained closed while ATM machines in these areas will likely run out of cash ahead of a two-day public holiday.









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Link Reit sells five properties





The Link Real Estate Investment Trust, Asia’s largest reit, said it has sold five of its properties in Hong Kong for HK$1.72 billion.









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China approves Apple’s iPhone 6 for sale





Apple’s iPhone 6 can now be sold in China, after the firm received a licence for the device to be used on the country’s wireless networks.









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China sovereign wealth fund to sell S$405m of Noble shares





China Investment Corp is looking to raise as much as S$405 million (HK$2.5 billion) by selling about a third of its shares in commodity trader Noble Group.









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Korea factory output falls most since 2008 financial crisis





South Korea’s factory output in August marked its worst fall since the 2008 global financial crisis, raising concerns about the pace of recovery in Asia’s fourth-largest economy even though the government said temporary factors were to blame.









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Dallas hospital monitoring patient for Ebola

A patient in a Dallas hospital is showing signs of the Ebola virus and is being kept in strict isolation with test results pending, hospital officials...



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China celebrates new holiday of Martyr's Day

President Xi Jinping and other solemn-looking Chinese leaders presented flower baskets and scores of ordinary people filed up to lay a single flower e...



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CE demands protests end 'immediately'

Hong Kong's chief executive Leung Chun-ying Tuesday called on protest leaders to "immediately'' withdraw their followers from the streets in his fir...



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Nikkei plunges by break

Tokyo stocks fell 1.47 percent Tuesday morning following a surprisingly weak batch of economic data and a sell-off on Wall Street while investors ar...



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Power producer CGN Meiya’s flotation oversubscribed 557 times





The mainland’s nuclear power producer CGN Meiya, which will debut on the stock market on Friday, said its initial public offering has been oversubscribed more than 557 times and it will price the shares at HK$1.71 each.









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Jeweller Man Sang to spin off distributor arm





Jewellery maker Man Sang International has proposed to spin off its wholesale distributor, MSJ, to finance future expansion.


Shares of Man Sang rose 2.53 per cent to 81 HK cents as of 10.30am after the announcement.









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More bad signs for Japan’s economy





Annual household spending in Japan fell for a fifth month in August and factory output unexpectedly declined, highlighting the challenges policymakers face to revive an economy reeling under the strain of a sales tax rise.









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Islam-linked US beheading suspect to be charged

A US worker suspected of beheading a colleague after trying to convert his co-workers to Islam is to be formally charged on Tuesday, a police spokes...



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SKorea ferry runs aground, all 109 rescued

South Korea's coastguard rescued all 109 passengers and crew from a ferry that ran aground Tuesday, not far from the site of April's Sewol ferry tra...



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CE urges Occupy movement to stop

Chief Executive Leung Chun-ying said the central government will not change its plan on political reform despite the protest which he expects to last ...



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Hang Seng opens lower

Hong Kong stocks slipped 0.40 percent at the start of trade Tuesday, extending the previous day's heavy losses, as a pro-democracy protest that has ...



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Protesters set deadline for government

Pro-democracy protesters in Hong Kong set a Wednesday deadline for a response from the government to meet their demands for reforms after spending ano...



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Protesters continue to defy government

Pro-democracy demonstrators have defied government calls to go home and are continuing their sit-in in various parts of Hong Kong, although in much sm...



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MTR normal, buses still disrupted

MTR trains are running as normal this morning, although some entrances to the stations in Central and Causeway Bay are closed because of the protests....



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A critical moment for the government: expert

A constitutional law expert says the Hong Kong government is at a critical juncture and needs to be seen to be representing Hong Kong people and not B...



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Hong Kong stocks down nearly 1pc





Hong Kong stocks fell nearly 1 per cent to 23,018 points amid a regional decline as concerns that democracy protests could intensify rocked the markets.









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Building services provider Nga Chun taps the market





Building services provider Nga Chun Holdings is set to raise up to HK$93.4 million through a share offering. It plans to sell 100 million shares at an indicative range of 70 HK cents to HK$1.10 apiece.









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Health-care firm Hing Sang to raise HK$220.6m





Health-care product distributor Hing Sang Group (International) has secured approval to raise up to HK$220.6 million through listing on the main board.









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Monday, September 29, 2014

Social workers go on indefinite strike

About 2,000 social workers from more than 20 organizations went on an indefinite strike on Monday. They held a rally at the Polytechnic University of...



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Tourists support demonstrators

The Hong Kong Tourism Board on Monday called on visitors to stay away from Central, Admiralty, Causeway Bay and Mongkok because of the pro-democracy p...



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44 bank branches closed

According to the reports to the Hong Kong Monetary Authority from banks as at 3.30pm today, a total of 44 branches, offices or ATMs of 23 banks were t...



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National Day fireworks display to be cancelled

The National Day Fireworks Display originally scheduled at Victoria Harbor on October 1 at 8pm will be cancelled for safety reason, the government sai...



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41 injured over last three days: police

Forty one people, including 12 cops, were injured during the protest last three day, police said. Assistant Commissioner of Police (Operations) Cheun...



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Hang Seng loses 1.9pc after protests

Hong Kong shares tumbled 1.90 percent Monday following weekend clashes between pro-democracy protesters and police, while parts of the financial hub...



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War crimes court hears Karadzic closing arguments

Closing arguments have begun in the genocide trial of former Bosnian Serb leader Radovan Karadzic, with U.N. prosecutors arguing he should be sent to ...



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Xi publishes book on governance

China has published a book of President Xi Jinping's remarks, state media reported Monday, as his profile in the country's carefully scripted press ...



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Alibaba approved for private bank in China: regulator

Chinese e-commerce giant Alibaba, which completed the world's largest stock offering earlier this month, has received approval to set up a private ban...



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Staff at government HQs urged to leave early

Officers working in Central Government Offices are urged to leave their offices, sources told The Standard. Several departments have reported receive...



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'Umbrella Revolution' takes hold in city

Protesters armed with little more than parasols and determination have brought central Hong Kong to a standstill with their demands for full democra...



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Two dead in decompression chamber in Japan spa

Two people have died in a decompression chamber at a Japanese spa, news reports said Monday, with a police investigation focusing on a possible faul...



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Nikkei finishes higher

Tokyo stocks added 0.50 percent on Monday after the yen weakened against the dollar in response to data showing the US economy expanded more than ini...



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European stocks open flat

Europe's main stock markets steadied at the start of trading on Monday, with London's FTSE 100 benchmark index down 0.05 percent to 6,645.90 points. ...



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No major traffic congestion reported

The Transport Department said on Monday that there were no major traffic jams despite the closure of major roads in Central, Admiralty, Wanchai, Cause...



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Fanny Law in tears over protest

A deputy to the National People's Congress and Executive Councillor, Fanny Law Fan Chiu-fun, said on Monday that she understood many Hong Kong people ...



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Swire Beverage staff on strike

Two hundred logistic workers of Swire Beverage are on strike today, in a bid to support democratic protesters for the Occupy Central movement. The c...



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Ma Ying-jeou back protesters

Taiwan's president threw his weight behind Hong Kong's democracy protesters on Monday, saying he was "very concerned'' by events in the city and urg...



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Dozens of students missing after Mexican protest crackdown

Mexican authorities searched Sunday for 58 students who went missing after protests turned deadly in the troubled southern state of Guerrero. The st...



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Some bus routes resume services

Citybus and First Bus said several routes including 4, 4X, 7, 30X and 91 on Hong Kong Island have returned to normal. Due to blockage in Central, the...



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Impeachment move against CY Leung

Twenty-three pan-democratic lawmakers on Monday called for an emergency meeting of the Legislative Council in a bid to table an impeachment motion aga...



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(Flight MH370) New phase for search operation

The search for Malaysia Airlines Flight MH370 enters a new underwater phase this week almost seven months after the jet went missing, with two speci...



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US Consulate urges peace and calmness from all sides

US Consulate General of Hong Kong encourage all sides to refrain from actions that would further escalate tensions, to exercise restraint, and to expr...



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Riot police 'withdrawn' from protests: govt

Hong Kong's authorities announced Monday they were withdrawing riot police from the streets of the protest-wracked city in a major concession to pro...



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End China talks now: Taiwan protesters

About 100 protesters in Taiwan demanded that all economic and political talks with China end immediately in a show of support for the democracy protes...



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More joining protest at Admiralty

More people are joining to protestors at Admiralty, which crowded from Gloucester Road outside the Hong Kong Academy of Performing Arts to Cotton Road...



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Protestors are organized: Regina Ip

Exco member Regina Ip Lau Suk-yee said the protestors in the Occupy Central movement are well organized as they all have unlimited supply. And the aut...



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Limited catering services at Legco

Police has refused food delivery into the restaurant at Legco, the catering service provider said. It will stop serving after all food is sold out....



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Protestors crowd Mong Kok

Protestors continue to stay at the intersection of Nathan Road and Argyle Street in Hong Kong, paralyzing the traffic. But the MTR station is not bloc...



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China blocks Instagram to stop coverage of HK protest

Hong Kong pro-democracy demonstrators are ''doomed'', Chinese state media said Monday as Beijing moved to wipe social media coverage of the mass pro...



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Breaking the glass ceiling is good business





A recent study by Credit Suisse Research Institute shows getting more women on board is not just about gender sensitivity, it also makes perfect business sense.









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Alibaba and Juneyao get nod to set up private banks





Alibaba Group Holding’s finance arm has been given government approval to set up a private bank, China’s banking regulator said on Monday, the latest step in the e-commerce company’s push into the financial services sector.









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Weibo: Tech execs call on Facebook on Silicon Valley tour





Senior and mid-level executives from a wide range of Chinese tech firms were on the move this past week, crossing the Pacific to tour some of the top US tech names in Silicon Valley.









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Hang Seng falls 1.9pc at midday

Hong Kong sank 1.94 percent in the morning session Monday following a weekend of unrest as pro-democracy demonstrators clashed with police in the fi...



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Doctor exposed to Ebola treated in US

An American doctor who was exposed to the Ebola virus in Sierra Leone was admitted Sunday to a clinic of the National Institutes of Health outside W...



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China hails free trade zone on one-year anniversary

China on Monday hailed the one-year anniversary of its first free-trade zone (FTZ), but foreign companies expressed disappointment over the pace of ...



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Fitch rules out ratings impact on Hong Kong





Fitch Ratings says the Occupy Central movement that spilled over from the weekend does not significantly affect Hong Kong’s ratings.









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Recovery of bodies underway at Japanese volcano

Military and other rescue workers began airlifting more than two dozen bodies from the ash-blanketed peak of a Japanese volcano on Monday morning, as ...



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California adopts 'yes means yes' sex-assault rule

California Gov. Jerry Brown announced Sunday that he has signed a bill that makes California the first in the US to define when "yes means yes'' and a...



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Pro-democracy protests expand

Pro-democracy protests expanded in Hong Kong on Monday, a day after demonstrators upset over Beijing's decision to limit political reforms defied onsl...



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Softbank mum on reports bidding for DreamWorks Animation

Japanese telecoms group SoftBank refused to be drawn Monday on reports it is in talks to buy DreamWorks Animation, the biggest independent animated ...



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UK Conservatives in voter-friendly tax cut

Britain's ruling Conservative party will announce Monday plans to scrap an inheritance tax, as it sets out economic policies aimed at wooing voters ...



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SKorea current account surplus slips in August

South Korea's current account surplus narrowed to US$7.27 billion in August due to heavy royalty payments and overseas travel spending during the su...



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Nikkei up at midday

Tokyo stocks added 0.43 percent on Monday morning after the yen fell against the dollar in response to data showing the US economy expanded more tha...



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Stock debutant ELL Environmental issues profit warning





ELL Environmental Holdings, which made its stock market debut on Friday, opened 6.38 per cent down on Monday after issuing a profit warning.









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COL Capital turns around





Investment holding firm COL Capital has turned around with a profit of HK$927.9 million for the year to June on the back of a sharp increase in revaluation gains on its investments.









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Protests in Mong Kok, Causeway Bay

Pro-democracy protests brought widespread travel chaos to Hong Kong Monday with many schools and businesses shuttered but the city's stock exchange sa...



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Hang Seng plunges at open after protests

Hong Kong stocks sank 1.18 percent in opening exchanges Monday following a weekend of unrest as pro-democracy demonstrators clashed with police in the...



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Soho China sells part of Shanghai project to Ctrip





Soho China has agreed to sell part of its uncompleted office-retail project in Shanghai to Ctrip Shanghai for HK$3.85 billion, nearly double the amount the Beijing developer paid for the site in 2010.









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HKMA activates emergency action plan as Occupy protests extend





The Hong Kong Monetary Authority said it had launched its emergency contingency plan to ensure the smooth running of financial markets on Monday morning as mass protests by the pro-democracy Occupy Central movement spilled over from the weekend.









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Beijing's closed door meeting with Hong Kong tycoons erodes trust





We all know how busy Chinese president Xi Jinping can be, so when he calls for a meeting, it must be top priority. For the richest Hong Kong tycoons, it is unusual to meet Xi in a group meeting, particularly to discuss politics rather than business.









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Taiwan losing its grip on iPhone supply chain





Production of the hot-selling iPhone 6 is bringing business to a number of Taiwanese technology firms and boosting factory orders on the mainland.









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Four Russian banks plan to issue dim sum bonds in Hong Kong





At least four Russian banks will issue up to 2.5 billion yuan in dim sum bonds in Hong Kong by early next year, as Western sanctions against Russia accelerate a switch by the country's lenders from US dollars to the mainland and Russian currencies.









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US legislative risk looms for expanding Chinese firms





Proposed legislation on foreign investments could complicate the acquisition plans of Alibaba and other Chinese companies in the United States.









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China to set out green energy quotas for provinces





Beijing may ask local governments to ensure that up to 10 per cent of power consumption in their areas are from wind, solar or biomass sources by next year, the South China Morning Post has learned.









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Beijing eases restrictions on foreign firms in year-old Shanghai free-trade zone





Beijing said it was lifting restrictions on foreign investments in several industries, such as the shipping sector, in Shanghai's free-trade zone, a day before the much-hyped "mini Hong Kong" its first year in business.









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Core fund proposal for Hong Kong pension scheme wins wide support





A proposal by the Mandatory Provident Fund Schemes Authority to require all pension providers to establish a "core fund" as a cheap and simple investment option has received support from the majority of respondents to a consultation.









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Lee Shau-kee keeps up the momentum in buying spree





Buying by companies and directors surged for a second week, with insider purchases topping HK$1 billion, dwarfing the HK$47.6 million recorded for sales.









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Guangdong eyes SOE reform





Guangdong has set an ambitious timetable for reform of its state-owned enterprises (SOEs), including a goal for more than 70 per cent of the province's state firms to open up to private capital by 2017.









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Business jet slump fails to deter new players





The crackdown on corruption may have already dented the mainland's already struggling private jet industry but that has not stopped new players entering the market with innovative business models.









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Pimco reassures investors after CIO departure





Pacific Investment Management Co, seeking to calm investors after the surprise departure of co-founder and former chief investment officer Bill Gross, said there will be no major changes in investment strategy at the manager of the world's biggest bond fund.









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Audio titan enters the music business





Sennheiser is eyeing new growth in the recorded music business, while buttressing its position as the audio industry leader in headsets for the professional and consumer markets across China.









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HKEx likely winner from Guangdong's SOE reform push





Hong Kong's exchange may soon see an influx of new listings from across the border as part of Guangdong's state-owned enterprise reform aimed at creating companies to compete internationally.









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P2P lenders await new regulations from Beijing





Peer-to-peer lending operators on the mainland are well aware their industry is set for major change at the end of the year, when the CBRC is due to issue an initial set of rules with the hopes of reining in explosive growth in the informal sector.









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Pay varies for traders in different streams in Britain, report reveals





A report from financial data company Emolument.com that compares remuneration among traders reveals a significant income disparity from the analyst to the managing director level.









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China regulator revises internal control guidelines for banks





The mainland's banking regulator has issued revised internal control guidelines for banks to ensure that appropriate risk management controls are adopted, while increasing penalties for any violations.









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Munich Re targets new insurance niche with Hong Kong regional base





Munich Re, the world's largest reinsurer, is consolidating its marine businesses and has chosen Hong Kong as its Asia-Pacific underwriting centre.









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Chart of the day: Death cross attacks US index





We have been keeping a wary eye on this broadly based United States index, worrying that it might be forming a large topping pattern, which until July looked like a broadening top.









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Hong Kong capital markets miss a string of opportunities in first nine months





Hong Kong's equity capital markets have put in a strong performance for the first nine months of the year, raising almost 45 per cent more than in the period last year.









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Over the hedge





Hedge funds are facing a prolonged death rattle as their managers tenaciously cling to their beliefs that they have the sustainable ability to consistently beat the market even though signs are saying otherwise.









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Markets priced for perfection imperiled by rising risks





Global asset markets are priced as if the world economy is in a perfectly upward trajectory, but a rising raft of risks suggests the best bet for investors could be on a secular recovery for the safe-haven US dollar.









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Sunday, September 28, 2014

Take a lesson from the West, yuan boost won't spur growth





A 500 billion yuan injection from the People's Bank of China into the country's five biggest banks might not be enough to stave off an economic slowdown in the second half of the year.









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Saturday, September 27, 2014

China central bank sees role for shadow banking





A senior official with the mainland's central bank said the role of the shadow banking system cannot be simply denied just because of the risks it has created.









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China LNG shares dumped as its prospects deflate





Shares of property investor and securities trader China LNG Group capped a volatile week by ending 25 per cent lower yesterday as its lofty valuation prompted punters to dump the stock.









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Supine government response to anarchy at Ho Chung





We have commented before on the supine attitude of government departments when it comes to dealing with villagers in the New Territories.









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Chart of the day: capital spending looking up





Societe Generale says capital expenditure spending intentions appear to be picking up across the board in the United States, according to the National Federation of Independent Business small business survey.









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Hong Kong fund houses lobby for extra RQFII quota





Some of Hong Kong's biggest offshore yuan fund managers are lobbying Beijing for extra investment quota under a scheme that enables direct investment in mainland securities after the city reached its 270 billion yuan limit.









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Kerry Logistics seeks quality over quantity





Kerry Logistics says it plans to invest in US transpacific freight forwarders to support its integrated logistics business in Asia.









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Shenguan shares cleared to resume trading after claims rebutted





The Hong Kong stock exchange has approved an application by Shenguan Holdings Group for a resumption of trading of its shares on Monday morning.









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China Merchants Energy Shipping deal raises hope for Valemax return to Chinese waters





China Merchants Energy Shipping (CMES) has partnered with Brazilian mining giant Vale in a 25-year freight contract with the order of 10 very large ore carriers (VLOCs).









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Mystery day trader makes millions betting on Japanese markets





It was six minutes after the opening bell on February 4, and dozens of big-name stocks were still untraded in Tokyo. Telecommunications giant SoftBank was among those that had not budged.









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Business leaders seen as having negative influence





A new survey of consumers and business executives worldwide found that people still have a negative view of CEOs and business es, but it also found there was an opportunity to change that.









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Graft crackdown has paralysed China's energy industry





George, an energy veteran, has finally got time for the birthday party of his nine-year-old daughter, thanks to Xi Jinping's sweeping anti-graft campaign.









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Shanghai stock market link-up with Hong Kong's 'ready for launch'





Regulators in Shanghai said yesterday that all technical preparations to directly link its stock market and Hong Kong's in a landmark cross-border trading scheme were complete.









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Friday, September 26, 2014

HK Stadium pitch to be reconstructed

The government said on Friday that it will partner with the Hong Kong Jockey Club to carry out a full reconstruction of the turf pitch at the Hong Kon...



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Stampede kills 6 primary schoolchildren in Kunming

Six schoolchildren died in a stampede Friday at a primary school in the southern Chinese city of Kunming, authorities said. It wasn't clear what caus...



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Two officials indicted for bribery

Two officials in east China's Shanghai and neighboring Jiangsu Province have been separately indicted for taking bribes, according to the Supreme Peop...



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Clearance of Central could begin earlier

Sources told RTHK on Friday that a large turnout for Occupy Central's protest next week could prompt the police to begin clearing the streets the same...



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Experimental Ebola vaccine doses ready by 2015: WHO

Thousands of experimental Ebola vaccine doses from British GSK and US NewLink should be ready for use by early 2015 in countries affected by the epi...



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New Zealand police return from MH17 victim ID mission

The New Zealand Police has ended its assistance in helping to identify victims of Malaysia Airlines flight MH17, which was allegedly shot down by a mi...



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Fanling site gets overwhelming response

The government has received at least 21 bids for a residential site in Fanling -- the first government land sale in the district in four years. The s...



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Cuba sends 300 more doctors, nurses to fight Ebola

Cuba said it will send nearly 300 more doctors and nurses to west Africa to help fight the Ebola epidemic. This will raise to 461 the number of Cuba...



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'Shadow chief executive' possible for HK: Tai

One of the organizers of the Occupy Central movement, Benny Tai Yiu-ting, said on Friday that the people of Hong Kong could elect a shadow chief execu...



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CSD ready to accommodate more detainees

The Commissioner of Correctional Services, Sin Yat-kin, said on Friday that contingency plans have been drawn up to cope with a sudden surge in the nu...



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31 arrested for HK$100m phone scams

Thirty-one people have been arrested in Hong Kong, Taiwan and the mainland in connection with dozens of phone scams over the past two years that cheat...



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Recruitment launched for RTHK's chief

The government on Friday launched an open recruitment for director of broadcasting to head Radio Television Hong Kong. The notice states that applica...



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Hang Seng ends lower

Hong Kong shares closed 0.38 percent lower Friday as a sell-off on Wall Street compounded ongoing fears about the state of China's economy. The Hang ...



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China Three Gorges subsidiary banned from World Bank projects





The World Bank has barred China International Water and Electric Corporation (CWE) from its projects for three years for misconduct in Africa and Southeast Asia.









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National security concerns heat up smartphone wars





A trio of headlines are shining a spotlight on a new twist in the brutally competitive smartphone market, where national security is suddenly becoming a major new headache for manufacturers.









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Malaysia detains 3 militants heading to Syria

Malaysian police say they have detained three Muslim men suspected of wanting to go to Syria to join the militant Islamic State group. The head of th...



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SKorean officials steer clear of Kim health rumors

South Korea declined any official comment Friday on growing speculation over the health of North Korean leader Kim Jong-Un who has not been seen in p...



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School students join democracy protests

Nearly 1,000 Hong Kong secondary students, many dressed in uniforms and defying their parents, joined ongoing pro-democracy protests Friday against ...



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Nan Fung eyes expansion of property portfolio on mainland





Nan Fung Development will continue to look for good partners and opportunities to enlarge its property portfolio in mainland China, where the group expects a strong growth in the medium to long term, says the group’s chief executive Antony Leung.









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Obama pal Eric Holder to leave after 6 years as AG

It wasn't difficult for Barack Obama and Eric Holder to be in the same orbit. Both were sons of immigrants, Columbia Ivy Leaguers, basketball fans and...



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Mainland signals loosening of parcel delivery market restrictions





Mainland China said it would ease restrictions on foreign couriers seeking to deliver packages nationwide, potentially increasing competition in a fast-growing business already marked by bruising price wars.









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Sell-off sends Hang Seng lower at midday

Hong Kong slipped 0.40 percent in the morning session following a heavy sell-off on Wall Street. The benchmark Hang Seng Index shed 95.54 points to 2...



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Price weakness in industrial metals compounds fears of mainland slowdown





September has been a cruel month for industrial metals, with prices sinking pretty much across the board.









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Mexico detains 8 soldiers in June killing of 22

An army officer and seven soldiers were detained in connection with the killing of 22 people in rural southern Mexico, authorities announced late Thur...



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No 'Redskins' from CBS analyst Phil Simms

CBS lead analyst Phil Simms referred awkwardly to "the Washington team'' early in the Redskins' nationally televised game against the New York Giants ...



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Mainland steel demand drops for first time in 14 years due to slowing economy





Mainland China’s steel consumption dropped this year for the first time since at least 2000 due to slower economic growth, leading to a surplus of iron ore in the country and a more than 40 per cent plunge in prices of the steelmaking raw material.









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US-Russian crew docks with space station

A US-Russian crew docked early Friday with the International Space Station, about six hours after launching from Russia's manned space facility in Kaz...



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Doping case confirmed at Asian Games

The Olympic Council of Asia says a Cambodian soft tennis player has tested positive for a banned stimulant at the Asian Games in Incheon, South Korea....



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Man stabs four school kids to death in Guangxi

A knife-wielding man stabbed to death four primary school children in southern China on Friday, state media reported, the latest in a series of such...



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School pupils protest at Tamar

Hundreds of secondary school students who are boycotting their classes have arrived at Tim Mei Avenue, outside the the government's headquarters, to p...



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Nikkei down by break

Tokyo stocks slipped 0.98 percent on Friday morning after sell-offs on Wall Street, while the yen strengthened against the dollar. The key Nikkei 2...



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Link Reit reports strong response from proposed property sales





The Link Real Estate Investment Trust, Asia’s largest reit, has reaped strong response from the proposed sale of its five properties in Hong Kong.









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ELL Environmental Holdings shares rise amid improving sentiment





Shares of ELL Environmental Holdings rose sharply above their initial price on the Hong Kong stock exchange in the morning trading on Friday amid an improving market sentiment.









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Shanghai Industrial joins Nan Fung to buy trade mart





Shanghai Industrial Urban Development Group (SIUD), a subsidiary of Shanghai Industrial Holdings, the municipal government’s listed investment arm in Hong Kong, has agreed to form a joint venture with Hong Kong’s Nan Fung Group to buy the majority owner of trade exhibitio









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SMIC and Sunshine 100 tap bond market





Semiconductor Manufacturing International Corp (SMIC) plans to raise US$500 million by issuing a five-year corporate bond to repay debt and fund production capacity expansion.









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Apple responds to iPhone 6 bending and software complaints





Apple broke its silence on complaints about bending iPhones, hours after withdrawing a glitch-ridden software update as the company struggles to restore momentum to the rollout of its latest phones.









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Intel to invest in mainland government affiliated mobile chipmakers





Intel is close to announcing an investment in mainland Chinese-government affiliated mobile chipmakers Spreadtrum Communications and RDA Microelectronics.









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Liquidnet founder unconcerned about tightened dark pool regulations





Liquidnet's founder and chief executive Seth Merrin is not worried about new dark pool regulations as his platform serves only the biggest asset managers.









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Thursday, September 25, 2014

Lufthansa pilots' union threatens new strikes

A union representing pilots at Germany's Lufthansa says talks aimed at resolving a dispute over early retirement benefits have broken down and is thre...



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Moscow court confirms house arrest of billionaire Yevtushenkov

A Moscow court on Thursday ordered billionaire Vladimir Yevtushenkov to remain under house arrest, throwing out his appeal as he is investigated in ...



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Japan child abuse cases reach new high in first half

Japan's National Police Agency (NPA) said Thursday it had received reports of more than 13,000 cases of child abuse in the first half of this year, ma...



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Tai to unveil timing of sit-in on Sunday

It's an open secret that the Occupy Central movement will begin on National Day as organizer Benny Tai Yiu-ting had strongly hinted at this when he po...



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HK exports grow slower in August

Hong Kong's exports growth slowed in August, data from the Census and Statistics Department showed Thursday. Total exports grew 6.4 percent year-over...



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Media release details in Uighur scholar case

Chinese state media have released new details of the government's case against scholar Ilham Tohti who received a life sentence Tuesday for encouragin...



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Qatar women withdraw from Asian Games basketball

Qatar's delegation chief says the women's basketball team has withdrawn from the Asian Games after organizers refused to let players wear hijabs in co...



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German minister not happy about ECB's asset purchases

German Finance Minister Wolfgang Schaeuble said Thursday he is not particularly happy about the European Central Bank's plans to buy up asset-backed...



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US tech firm Adobe to shut down China lab

US software giant Adobe will shut its research arm in Beijing by the end of the year, laying off 350 people, according to a statement, as foreign te...



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Activists in court over LegCo protests

Nineteen activists have appeared in Eastern Court in relation to two rowdy protests in June at LegCo against the development plans in the northeast Ne...



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Student promoting class boycott attacked

Student activist group Scholarism has condemned the attack of a 17 year-old secondary school student in Tai Wai Thursday morning. The student, surnam...



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Thousands join 'no air-con night'

More than 50,000 people and schools have pledged to participate in Hong Kong's fourth "No Air-con Night" that will take place Thursday evening. The e...



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Japan firm has 'thumbs up' solution for bigger smartphones

Human thumbs are just too stumpy to navigate bigger-than-ever smartphone screens, but a Japanese gadget maker has a solution: a thumb extender. Ent...



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European stocks open lower

Europe's main stock markets dipped at the start of trading on Thursday, with London's FTSE 100 benchmark index easing 0.03 percent to 6,704.57 point...



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Nikkei ends at new seven-year high

Tokyo stocks closed 1.28 percent higher at a new seven-year high on Thursday as the dollar surged against the yen following a rally on Wall Street. ...



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British PM to apologise to queen over purring gaffe

British Prime Minister David Cameron will apologise to Queen Elizabeth II in person after describing how she "purred'' down the telephone when he to...



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Alibaba runs on emotion, fundamentals have to wait





The exotic and mysterious tales of One Thousand and One Arabian Nights featured one Ali Baba.









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Honworld shares vault up 12.4pc on shareholders’ sales plan





Shares of Honworld, a newly-listed company that makes and sells cooking wine, soy sauce and vinegar under the Lao Heng He brand, rose sharply after its major shareholder said it plans to sell its 19 per cent stake.









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ADB sees China meeting 2014 GDP target but cuts view on HK





The Asian Development Bank slashed the growth forecast for Hong Kong to 2.5 per cent this year from its previous forecast of 3.5 per cent.









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Students to stage Government House rally

Students staging a class strike say they will press ahead with a protest march to Government House Thursday evening after Chief Executive Leung Chun-y...



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Talks still under way for Oct 1 rally

Organizers of Occupy Central said they're still in the process of negotiation on their application to hold a legal assembly on October 1st. They stre...



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Uighur scholar jailed over lecture: Xinhua

A prominent Chinese scholar from the mostly-Muslim Uighur ethnic group was jailed for life because of remarks he made in a university class about th...



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Japan, NKorea officials to hold talks over Cold War kidnappings report

Japan and North Korea will hold talks next week in China, officials said, after Pyongyang failed to produce a report on its probe into the Cold War ...



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Hang Seng flat at midday

Hong Kong stocks were flat by the break Thursday as buying sentiment waned after an early rally that was fuelled by Wall Street's surge. The benchm...



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BOC, Agricultural Bank to allow relaxed mortgage policies





Bank of China (BOC) and Agricultural Bank of China are to allow branches to adjust mortgage policies in accordance with local market conditions.









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Biscuit maker Jiashili raises HK$320m in stock debut





Mainland biscuit maker Jiashili’s share price closed moderately above their initial price on the Hong Kong stock exchange in Morning trading Thursday amid an improving market sentiment.









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Rights group urges Malaysia to stop abuse of transgenders

Malaysia's transgender population faces systematic repression, harassment and mistreatment, and the government must immediately repeal laws that cri...



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ADB cuts growth forecast for SE Asia

The Asian Development Bank trimmed its economic growth forecast for Southeast Asia this year and next due to slower domestic demand in some of its big...



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Guam man sentenced to life for stabbing attack

A Guam man convicted of killing three Japanese tourists in a crash and stabbing rampage last year was sentenced Thursday to life in prison. Guam Sup...



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Japan probe comes up empty on Dreamliner battery problems

The Japanese probe into a battery problem that forced the emergency landing of a Boeing Dreamliner last year wrapped up Thursday with investigators ...



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The 'fragile five' becomes the fragile three





The whiff of another “taper tantrum” is in the air.









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NKorean parliament holds second session

North Korea's rubber stamp parliament was set to meet Thursday for its second session this year, with observers watching for possible personnel and ...



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Former political advisor removed from NPC

Su Rong, a former senior Chinese political advisor, was Thursday removed from his post as deputy to the National People's Congress (NPC), the country'...



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Nikkei touches seven-year highs

Tokyo stocks rose 1.22 percent on Thursday morning to their highest level in nearly seven years after the dollar bounced back against the yen. The ...



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Yelp launches Hong Kong service





Yelp, the San Francisco-based online review company, entered its 29th major location worldwide, with the launch of its service earlier on Thursday in Hong Kong’s crowded social-media market.









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Imperial Pacific announces US$7.1b spend on Saipan casino





Macau junket investor Imperial Pacific International, said it would devote US$7.1 billion, nearly double what it originally outlined, for its casino resort on the island of Saipan.









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AVIC International considers non-aviation acquisition





AVIC International Holding (HK) said it is mulling a possible acquisition of some unspecified non-aviation business on the mainland from its parent AVIC International Holding Corp, after its share price surged 21.8 per cent on Thursday.









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China Cinda exits from Bank of Xi’an





Bad-debt manager China Cinda Asset Management has agreed to sell a 21 per cent stake in Bank of Xi’an and expects to book a gain of 5.72 million yuan (HK$7.22 million) from the sale.









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Brightoil returns to the black with HK$599m profit





Brightoil Petroleum (Holdings) returned to the black with a lower loss on oil hedging activities and selling and administrative expenses.









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Airbus raises jet demand forecast on China growth





Airbus raised its 20-year forecast for jet demand, citing growth in emerging markets, with China on the brink of becoming the world’s aviation powerhouse.









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Geely to raise US$300m through bonds





Geely Automobile Holdings plans to raise US$300 million by issuing a five-year corporate bond to refinance debt and fund business expansion.









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Sinosteel chief ousted by Beijing amid woes in steel sector





The mainland's loss making and overcapacity-plagued steel sector is seeing more pain as Beijing reportedly removed the head of state-backed Sinosteel amid its financial difficulties.









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Comac's C919 jet to complete assembly by September 2015





Assembly work on China's homegrown narrow body jet, the C919, will take another year and it should make its maiden flight by the end of 2015, Tian Min, chief financial officer of the Commercial Aircraft Corp of China (Comac) said.









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BOC asset arm seeks 1 billion RQFII yuan quota for European investors





Bank of China's asset management arm plans to apply for a one billion yuan (HK$1.26 billion) investment quota to expand its investment capability to prepare for yield-hungry European investors' demand for renminbi assets.









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Web financing gives hope to cash-starved small firms





Internet financing portals such as Alibaba could provide Beijing with a stealthy means to create a brand new stream of credit to support the flagging mainland economy by getting capital to companies currently cut off from official bank lending channels.









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Warehouse receipts at centre of Qingdao row on first day in court





The legal dispute between Citic Resources and Qingdao Port over a cargo of base metals involved in a fraud investigation centres on warehouse receipts that the port denies issuing.









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China throws cold water on nickel bulls





It is now a full eight months since Indonesia turned off the supply of nickel ore to China's giant nickel pig iron sector.









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Chart of the day: China sticks with easing policy





Last week's 500 billion yuan (HK$630.7 billion) liquidity injection into the Big Five state-owned banks on the mainland is effectively new money printed by the People's Bank of China, Daiwa Securities said in a report.









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China needs urgent reality check on infrastructure needs





In our Apec meetings this year, official worries have exploded on how to get private business to join governments to invest in big infrastructure projects.









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Can climate science predict the future with confidence?





Our attention has been drawn to a piece that has appeared in a number of newspapers that attempts to inject a note of reality into the public discussion of climate change.









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Shenzhen in 200m yuan push for green shipping





The Shenzhen government plans to spend 200 million yuan (HK$252.7 million) a year on cash rebates to encourage shipping lines to switch to low-sulphur fuel while at berth, following initiatives taken by Hong Kong.









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Hong Kong's new rail projects a case of city planners asleep at the wheel





What's wrong with the bus? I ask the question seriously as I ride the bus quite often and it is my preferred form of public transport. A bus ride is an opportunity to relax.









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Insider buy-backs dry up in the United States as valuations soar





American companies have seldom spent more money than they are now buying back shares. The same cannot be said for their executives.









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New awards signal SMEs' role in keeping Hong Kong competitive





Entrepreneurs are the life blood of Hong Kong's economy and their contribution to keeping the city globally competitive must be properly recognised, according to the sponsor of a major new awards programme organised by the South China Morning Post.









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Trade gloom hangs over Chinese economy





China's ability to drive growth in global goods trade has been permanently impaired by the fallout from the 2008-09 financial crisis, undermining any chance that a faltering economy could be revived by an export-led recovery.









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Wednesday, September 24, 2014

British Safety Council praises HK’s work safety record





Advocacy group British Safety Council on Wednesday praised Hong Kong for improvements in workplace safety and urged businesses to keep up the effort as they stand to gain from greater safety.









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London Tube to run all-night weekend service

London's underground train system will launch a 24-hour weekend service next year, Transport for London has announced. The ''Tube'' currently closes...



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Dismembered Japanese girl, 6, found in plastic bags

The dismembered body of a six-year-old Japanese girl has been found in several plastic bags near her home. DNA tests confirmed the body parts were t...



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Hong Kong stocks close 0.35% higher

Hong Kong stocks ticked up and Shanghai ended at an 18-month high on hopes of fresh measures to boost the Chinese economy. The Hang Seng Index adde...



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Strikes hit IS jihadists near besieged Syria town

The US-led coalition has launched raids against jihadists near a Kurdish town in Syria surrounded by Islamic State fighters, a monitoring group said....



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Students march on financial district

Striking students began marching towards the financial district, taking their protest for greater democratic rights to the city's commercial center f...



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New World Development’s net plunges





New World Development’s underlying profit climbed 2.8 per cent to HK$6.51 billion for the year to June even as net profit slumped 31.3 per cent to HK$9.73 billion.









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IMF upbeat on China growth





China’s economy will likely grow faster next year than previously thought, the International Monetary Fund said, downplaying the risks of the cooling property market in the world’s second-largest economy.









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Australian Muslims face threats over terror attacks

Australia's Islamic leadership called for restraint as it emerged that Muslims and mosques had been targeted in a backlash over fears about potentia...



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India wins Asia's Mars race as spacecraft enters orbit

India won Asia's race to Mars when its unmanned Mangalyaan spacecraft successfully entered the Red Planet's orbit after a 10-month journey on a tiny ...



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Hyundai workers strike as land deal fuels wage row

Some 40,000 Hyundai workers have launched a partial strike over a wage row fueled by union anger at the South Korean carmaker's US$10 billion bid fo...



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BlackBerry’s Passport to turnaround?





BlackBerry is set to launch an unconventional new smartphone dubbed the Passport, as it embarks on potentially the most critical phase of its long turnaround.









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Ex-top economic planner goes on trial

A former top Chinese economic planning official went on trial for taking bribes worth nearly US$6 million, the latest episode in China's much-publici...



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US, EU outrage over life sentence for Uighur scholar

Outraged Western powers have rounded on China over a life sentence handed to a prominent Uighur academic, accusing Beijing of silencing a moderate v...



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Hong Kong to see 10pc rise in office rents over next five years





Hong Kong will see a 10 per cent increase in prime office rents in the next five years at a rate below the average of other global cities, according to Knight Frank.









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Samsung to launch new phone in China before Apple





Samsung Electronics said its latest Galaxy Note 4 smartphone will go on sale in China and South Korea later this month as its flagging mobile business tries to defend sales from Apple’s new iPhones.









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BCL to inject assets into Juda





Beijing Capital Land (BCL) said it plans to inject a commercial project with outlet shops in Xian to its 65-per-cent-owned Juda International Holdings for HK$1.96 billion.









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Goldman Sachs slashes China growth forecast





Goldman Sachs has cut the forecast for China’s growth and predicts the government may lower its annual growth target next year to ease the pressure for aggressive policy easing.









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WTO cuts world trade growth forecast





Global goods trade will grow less than hoped this year and next and factors including regional conflicts and the Ebola outbreak are putting a quick return to stronger growth at risk, the World Trade Organisation said.









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CSRC approves preferred share issue





The China Securities Regulatory Commission has approved the issuance of 1.4 billion preferred shares worth up to US$29 billion by Agricultural Bank of China and Bank of China.









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