Hong Kong Daily News 2011.07.04

Hong Kong Stocks Rise as Greece Loan Boosts Economic Prospects
Bloomberg
By Shani Raja – Mon Jul 04 08:57:45 GMT 2011 Hong Kong stocks rose, with the Hang Seng Index set for its biggest two-day advance since November, as Europe pulled Greece back from the brink of default, improving the outlook for exporters and banks, …
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GLOBAL MARKETS-China pulls Asia stocks up for 5th day; euro dips
Reuters
By Saikat Chatterjee HONG KONG, July 4 (Reuters) – Asian equities climbed a fifth consecutive session on Monday, led by Chinese stocks, though the euro turned lower after ratings agency S&P warned that any rollover of Greek’s debt would constitute a …
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BYD Gains in Hong Kong on Munger Comment
Bloomberg
Photographer: Kevin Lee/Bloomberg July 4 (Bloomberg) — BYD Co. surged the most in more than nine months in Hong Kong trading after Berkshire Hathaway Inc. (BRK/A) Vice Chairman Charles Munger said the Chinese automaker has the ability to recover from …
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Rank reappoints chief executive and rejects offer
Financial Times
By Mark Wembridge Rank Group has reappointed Ian Burke less than a week after the gambling group’s former chief executive quit over a takeover tussle with Guoco Group, the Hong Kong-based investment company and biggest shareholder of the London-listed …
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Asian Shares End Mostly Up; Exporters, Financial Stocks Gain
Wall Street Journal
HONG KONG (MarketWatch) – Asian stocks rode higher Monday as upbeat US manufacturing data and a further easing of concerns over Greece pushed investors to prolong last week’s relief rally, with exporters and financial shares driving the gains. …
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Prada boosts Hong Kong share sale to $2.46 bn
AFP
HONG KONG — Italian luxury design house Prada has issued additional shares to boost its Hong Kong initial public offering to more than $2.46 billion, after a lacklustre trading debut last month. The family-controlled firm said in a statement late …
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The Spirited Traveller: A view to a cocktail in Hong Kong
Reuters
By Kara Newman (Reuters.com) – Visit Hong Kong and you’ll quickly notice two things: the killer jet lag and the killer views. On the ground, Hong Kong is a busy, bustling, somewhat claustrophobic city, where business gets done at rapid-fire speed. …
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HKTDC Hong Kong Fashion Week opens
Fibre2fashion.com
More than 1700 exhibitors are taking part in the HKTDC Hong Kong Fashion Week for Spring/Summer and the concurrent HKTDC Summer Sourcing Show for Gifts, Houseware & Toys, which opened July 4 and continue until July 7 at the Hong Kong Convention and …
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‘Transformers 3D’ Demolishes Hong Kong Box Office Records
Hollywood Reporter
HONG KONG – Transformers: Dark of the Moon demolished Hong Kong box office records: Michael Bay’s bombastic blockbuster is the triple-crown winner for the highest-grossing opening weekend, the highest non-holiday opening day, and the biggest single day …
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PRESS DIGEST – Hong Kong – July 4
Reuters
HONG KONG Jul 4 (Reuters) – These are some of the leading stories in Hong Kong newspapers on Monday. Reuters has not verified these stories and does not vouch for their accuracy. — Banks and hedge funds in Hong Kong have increased their salary bills …
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Fire destroys old Hong Kong Restaurant building in Cloquet
Duluth News Tribune
A building that was formerly home to the Hong Kong Restaurant at 117 Ave. C in Cloquet was destroyed by a fire Saturday night. Firefighters attempt to put out the fire at the former Hong Kong Restaurant in Cloquet on Saturday night. …
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SWAC submits report on long-term social welfare planning in Hong Kong
7thSpace Interactive (press release)
Hong Kong (HKSAR) – The Social Welfare Advisory Committee (SWAC) today (July 4) submitted its report on long-term social welfare planning in Hong Kong to the Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung.Mr Cheung thanked SWAC for its …
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SHAPE Services Acquires Developer Of ‘fone’, To Release IM+ Video App
TechCrunch
Exclusive – SHAPE Services, the company behind the immensely popular, cross-platform IM+ messaging applications (and then some), has agreed to acquire CrispApp, the Hong Kong based developer of the fone app for iOS (iTunes link). …
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Football in Brief: Yeung moves to reassure Blues; Fenerbahce head in fixing …
The Independent
Carson Yeung has assured Birmingham City he will continue to provide his backing for the club despite facing five charges of money laundering amounting to £59m in his native Hong Kong. The club’s acting chairman Peter Pannu flew out to Hong Kong to …
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Aeon Opens Its First Premium Supermarket In Hong Kong
ChinaRetailNews.com
Aeon Stores (Hong Kong) Company Limited has announced that Aeon MaxValue Prime, its first premium supermarket in Hong Kong, has opened. Lam Man Tin, managing director of Aeon Stores, told local media that steady growth in the local economy, …
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Prada Raises Extra $320 Million in Hong Kong IPO
Wall Street Journal
By PRUDENCE HO HONG KONG—Prada SpA said Sunday it fully exercised the over-allotment option in its initial public offering to raise an additional HK$2.5 billion (US$320 million), bringing the total amount raised to US$2.47 billion. …
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Chalco says discussions on Australia project terminated
Reuters Africa
HONG KONG, July 4 (Reuters) – Aluminum Corp of China said its discussions over possible development of bauxite resources in Australia had ended and that it would make provisions for impairment on associated expenditures. …
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Asia s ace in the hole Deep fiscal pockets
Moneycontrol.com
“Clearly, we are in for a rough summer,” said Frederic Neumann, Hong Kong-based co-head of Asian economics for HSBC, which compiles the monthly manufacturing surveys in Asia. But Neumann saw some promising signs amid the gloom: inflation pressures are …
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Wynn Macau Leads Casino Gains on Surging Industry Revenue
Bloomberg
By Michelle Yun – Mon Jul 04 09:48:15 GMT 2011 Wynn Macau Ltd. (1128) rose the most in three months in Hong Kong trading, leading gains among Macau casino operators after the city said gambling revenue had the steepest gain this year last month. …
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$15000 benefits heroic OFW kin
Manila Bulletin
By NONOY E. LACSON MANILA, Philippines — The husband and the three-year-old son of Juanita Limbago, the overseas Filipino Worker (OFW) who died while saving her six-year-old ward in Hong Kong on June 11, received checks worth $15000 as payment for the …
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China’s Banks Can Absorb Loan Losses on Local Government, Bernstein Says
Bloomberg
Industrial & Commercial Bank of China (601398) Ltd., Agricultural Bank of China Ltd. (1288) and Bank of Communications Co. may need to raise a combined 100 billion yuan ($15 billion) to cover a capital shortfall if the seven largest Hong Kong-listed …
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Hong Kong Retail Sales Growth Stable In May
RTT News
(RTTNews) – Hong Kong’s retail sales growth remained unchanged in May, preliminary data released by the Census and Statistics Department showed Monday. The retail sales value increased 27.8 percent year-on-year in May, unchanged from the gain recorded …
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DinoDirect.Com Introduces Cloud Warehouse
PR Newswire (press release)
HONG KONG, July 4, 2011 /PRNewswire-Asia/ — DinoDirect.com became the first online retail store to introduce its cloud warehouse for the benefit of its ever increasing client base. The starting of the new warehouse reflects the fast changing trends in …
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The Best Pay Per Click Management Companies in Hong Kong Ranked By topseos.hk …
Prfire (press release)
By E-Ventures @ 4th Jul 2011 14:33:00 topseos.hk, an independent authority on search vendors has named the Best Pay Per Click Management in Hong Kong for the month of July 2011. All the Pay Per Click Management Service providers identified next to …
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Thai route a winner for Cathay Pacific
Bangkok Post
Maggie Yeung, country manager for Hong Kong’s flag carrier, said the January-May load factor was 85%, up from 74% in the same period last year. She said the figure was high for a foreign airline in Thailand but stressed that market share was not a big …
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Barclays Capital: Philip Tsao TO Head Greater China Global Finance and Risk …
Wall Street Journal
HONG KONG (Dow Jones)–Barclays Capital, the investment banking division of Barclays Bank PLC, said Monday it has appointed Philip Tsao as a managing director and head of global finance and risk solutions for Greater China. Tsao, who will be based in …
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HK launches funding scheme to reduce food waste
China Daily
HONG KONG – A government fund in Hong Kong rolled out a scheme on Monday to help housing estates reduce food waste and separate waste food at source. According to the Environment and Conservation Fund (ECF), the funding scheme encourages housing …
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Firma Medical Aesthetics eyes Hong Kong medical market potential
7thSpace Interactive (press release)
Hong Kong (HKSAR) – Firma Medical Aesthetics Group (Firma), a Singapore-based medical aesthetics company, today (July 4) announced the opening of its first clinic in Hong Kong. The clinic occupies 5200 square feet on one floor of 6 Duddell Street in …
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New website of Pharmacy and Poisons Board of Hong Kong launched
7thSpace Interactive (press release)
Hong Kong (HKSAR) – The Pharmacy and Poisons Board of Hong Kong is the local authority for the regulation of pharmaceutical products. The Board announced today (July 4) the official launch of its new website at www.ppbhk.org.hk. …
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Amul Ranked No. 1 “Indian” Brand for third Consecutive Year in Asia
Business Wire India (press release)
The “Campaign” magazine published from Hong Kong and Singapore has ranked Amul as the No. 1 “Indian” brand in its list of Top 1000 Brands of Asia for the third consecutive year. Amul is also ranked as No.1 dairy brand, ahead of leading food and dairy …
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Ogier leads offshore pack as it opens in Shanghai
The Lawyer
The move follows the relocation of Guernsey-qualified partner Marcus Leese and Jersey-qualified partner Nathan Powell to Hong Kong last year. Ogier CEO Nick Kershaw said the move was in response to client demand. Kershaw added that although Chinese …
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Excessive aluminum in dried jellyfish, waffles: Consumers’ Foundation
Focus Taiwan News Channel
In light of a May 2009 report by the Centre for Food Safety in Hong Kong that the weekly intake of aluminum should be no more than 0.6 milligrams per kilogram of body weight, the CF did a series of spot checks, focusing first on salted jellyfish, …
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Local airline offers ‘cheap’ flights to Macau, HK, Singapore
ABS CBN News
MANILA, Philippines – A local airline announced that it is offering discounted tickets anew as it hopes to bring more tourists to Macau, Hong Kong and Singapore this year. South East Asian Airlines (SEAIR) said its one-way tickets to the top Asian …
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Local gaming regulat ion ‘invites rumours’
Macau Daily Times
MDTimes – Last year, according to reports, a man called Cheung Chi Tai was identified in a Hong Kong court as alleged leader of the Wo Hop To crime triad and also the person in charge of one of the VIP rooms in one local casino. …
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Beijing Enterprises to build HK$2.5 bln Malaysian sewage plant
Reuters
HONG KONG, July 4 (Reuters) – Hong Kong-listed Beijing Enterprises Water Group has received approval from the Malaysian government to build the country’s first underground sewage treatment plant, the water treatment firm said on Monday. …
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SFH on maternal and child health services
7thSpace Interactive (press release)
Secretary for Food and Health: As I have said earlier, we can see the gradual increase of babies receiving maternal and child health services in Hong Kong. Among the 31 centres that we have scattered all over Hong Kong, those in the Northern District …
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Research and Markets: Hong Kong – Major Telecom Players 2011
Business Wire (press release)
Hong Kong has five mobile operators in a crowded market, which has continued to remain competitive through preparedness among the operators to restructure and be innovative. The number of operators has dropped from eight to five through a series of …
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Fund managers diary
Fundweb
However, we place a substantial number of our orders in Asian markets live time, catching the afternoon sessions of Hong Kong and everything west to India. By 10.30am our markets close and we have the rest of the day to concentrate on research without …
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Nine Dragons Paper takes $154 mln loan from China Dev Bank
Reuters
HONG KONG, July 4 (Reuters) – Paper products maker Nine Dragons Paper (Holdings) Ltd said on Monday it will take a 1 billion yuan ($154 million) loan from the Hong Kong branch of China Development Bank to repay bank borrowing and as general capital. …
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Warrington music festival offers dance stage for first time
This Is Cheshire
Under the stage name Jimmy R he has travelled the world performing in America, Thailand and Hong Kong. The former Culcheth High School pupil, who has also held a residency at Manchester hot spot Sankeys, will be introducing the inaugural ‘Manik’ stage. …
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Ube To License Battery Electrolyte Tech To Hong Kong Firm
NIKKEI.com
TOKYO (Nikkei)–Ube Industries Ltd. (4208) said Monday that it has signed a patent-licensing agreement with a wholly owned Hong Kong subsidiary of TDK Corp. (6762) for electrolytes, a key component of lithium ion batteries. …
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Bachelorette 2011 Ashley Hebert: No New Episode Tonight!
Twirlit
Tonight, ABC will be re-airing last week’s Hong Kong episode where Bentley returns and Mickey leaves. And while this week will be a very boring week for fans, next week will be much more exciting. Next Monday – July 11, 2011 – not only will there be a …
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Nestle in talks with Chinese sweet maker
Reuters
By Lee Chyen Yee and Silke Koltrowitz HONG KONG/ZURICH (Reuters) – Nestle (NESN.VX), the world’s largest food company, is among companies in talks with Chinese candies and pastries group Hsu Fu Chi International (HSFU.SI) on a deal that could be worth …
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Maiden voyage of China’s first aircraft carrier delayed a month
DefenceWeb (press release)
The Hong Kong Commercial Daily said the carrier’s maiden voyage has been put off for a month due to mechanical problems. “As this is our first aircraft carrier, it’s not abnormal that the vessel encounters certain problems. …
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Citigroup Names Kevin Rideout As Asia Pacific Wholesale Services Electronic …
NASDAQ
HONG KONG -(Dow Jones)- Citigroup has appointed Kevin Rideout as head of wholesale services for electronic trading in Asia Pacific, said a spokesman for the US bank Monday. Rideout, who started with Citigroup in June and is based in Hong Kong, …
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Churchouse Says Tokyo Residential Property `Attractive’
Washington Post
July 4 (Bloomberg) — Peter Churchouse, chairman of Hong Kong-based property investment firm Portwood Capital, talks about Asia’s real estate markets. Churchouse also discusses Thailand’s election and its implications for the country’s property market. …
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