World News by Wild Rose

An international arbitration body in Hong Kong is exploring business opportunities in the Middle East and Africa, citing the city’s neutrality and predictability as key draws for new markets amid rising geopolitical tensions. Domitille Baizeau, co-chairwoman of the Hong Kong International Arbitration Centre, said the city had benefited from an overall shift in global business growth from Europe to Asia, with overseas businesses increasingly choosing Hong Kong to arbitrate disputes. The...

Hong Kong’s No 2 official has pledged to open extra clearance counters and vehicle lanes at the recently revamped Huanggang Port control point ahead of peak hours, after Halloween crowds and concertgoers created heavy cross-border congestion. Chief Secretary Eric Chan Kwok-ki, who inspected the Shenzhen Bay and Huanggang ports on Sunday, said he had instructed the Security Bureau to step up advance assessments and passenger flow forecasting. He added that he had directed the Transport and...

About 1 million employees in Hong Kong will be allowed to move their entire Mandatory Provident Fund (MPF) balance to a different provider once a year under the “full portability” arrangement, effective from December 21 for the first phase of implementation. The Mandatory Provident Fund Schemes Authority, which manages the city’s mandatory pension plans, said on Sunday that the “full portability” arrangement would be carried out in two phases to ensure a smooth and orderly implementation. In a...

Hong Kong’s major property developers are shifting investment in mainland China from residential projects to commercial assets, including hospitality, as weak home sales and fewer attractive investment opportunities prompt them to focus on existing properties, recurring income and debt reduction. “In recent years, after we recycled the capital from our projects, we haven’t really found many good opportunities on the mainland,” Stephen Ng, chairman and managing director of Wharf Holdings, said at...

About 16,000 Hong Kong residents have signed up for a joint exam to drive taxis or ride-hailing cars, the transport chief has said. Speaking on a radio programme on Saturday, Secretary for Transport and Logistics Mable Chan said the allocation arrangement for the 10,000 ride-hailing vehicle permits would be announced in November, with the government considering increasing the odds for certain drivers in the lottery draw. “We are pleased to see the enthusiastic response to the joint examination....

One of Hong Kong’s last traditional sauce makers is to cease operations, ending its 90-year legacy, after authorities cleared land at its Kwu Tung factory on Friday. Established in 1936, Kui Lee Sauce and Preserved Fruit confirmed to the South China Morning Post that it would close down once its remaining inventory at its shop in Wan Chai was sold. “Our factory in Kwu Tung has halted production, and all remaining stock is at our retail shop. We will close permanently after selling through all...

Hong Kong workers received smaller pay rises this year as Guangdong’s wage growth picked up, with the starting salaries of university graduates edging closer to those of non-degree holders, an annual survey has found. Hong Kong Baptist University released the findings of its 2026 Guangdong-Hong Kong-Macau Greater Bay Area Pay and Benefits Survey on Thursday. It showed that companies in Hong Kong and Macau slowed pay rises this year. Meanwhile, Hong Kong’s unemployment rate rose by 0.1 percentage...

Hong Kong and Singapore are locked in a fight for Asia’s billionaires and fund managers. Now, with an IPO boom and Mainland China’s backing, Hong Kong is making a move with tax exemptions on carried interest. (Source: Bloomberg)

Hong Kong’s leader pledged to showcase the city’s financial strengths to the world as it hosts the two-day Apec Finance Ministers’ Meeting for the first time. Observers said the event, which began on Tuesday and runs until Wednesday, would also help dispel foreign misunderstandings about Hong Kong’s economy and development, while drawing business leaders from around the world. Speaking at a summit on Greater Bay Area development, Chief Executive John Lee Ka-chiu expressed gratitude for the...

Jeny Yeung, CEO at MTR, discusses the opportunities she sees for the railway operator as it expands into Hong Kong's Northern Metropolis. She speaks exclusively on "Bloomberg: The China Show." (Source: Bloomberg)

New World Development Co. is in preliminary discussions with some banks to extend an about HK$88 billion ($11.2 billion) loan by two years, according to people familiar with the matter, a move that could pave the way for a capital injection for the cash-strapped Hong Kong builder.

Participation in distressed Hong Kong developer New World Development Co.’s debt swap offer came in below its overall target by an early bird deadline for creditors this week.