Economy

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The government has unveiled a new economic relief package costing HK$16.8 billion. The latest handouts include an extra HK$2,000 in tax rebates, and an extended waiver period for property rates and public housing rents.

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The government will announce details of its second round of economic relief measures this afternoon. The Financial Secretary, John Tsang, briefed Executive Councillors on the package this morning.


Job fair to offer 3,700 vacancies

news.gov.hk 24.05.2009
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The Labour Department will hold a job fair in Tsing Yi from May 25 to 27, offering 3,700 vacancies at 60 companies.

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The recent survey into private-sector pay trends has revealed falling salaries and, as a result, civil servants face the threat of paycuts.


Jobless rate climbs to 5.3%

news.gov.hk 20.05.2009
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The unemployment rate rose to 5.3% in the February-April period, from 5.2% in the January-March quarter, the Census & Statistics Department says. The underemployment rate nudged up from 2.1% to 2.2%.

Cutting it fine

Bonnie Chen The Standard 19.05.2009
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Hong Kong's 160,000 civil servants may see their pay cut for the fourth time in seven years after a survey showed salary cuts of up to 5 percent in the private sector.


$10b relief as economy slides

Bonnie Chen The Standard 15.05.2009
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Another package of relief measures - this one worth HK$10 billion - is about to be offered.

Future lies in no pain, no gain plan for HK

Bonnie Chen The Standard 12.05.2009
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A pro-government think-tank has called for the development of a common Hong Kong, Taiwan and mainland market within the next 30 years despite possible short-term financial losses for the city.


Labor leaders threaten daily worker protests

Timothy Chui The Standard 27.04.2009
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Labor leaders are threatening to hold daily protests for two months unless the government meets their demands to protect workers' rights and tackle soaring unemployment.

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Workers in some local fastfood chains outlets are paid as little as as $16 an hour.


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The Legislative Council has given preliminary approval to the budget.

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The Government has moved closer to winning a majority for its budget.


HSBC fires 100 more

Benjamin Scent and Mandy Lo The Standard 22.04.2009
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A new wave of firings is feared at financial institutions in Hong Kong after HSBC (0005) axed 100 staff from its private-banking division.

Jobless rate hits 5.2pc

Mandy Lo The Standard 21.04.2009
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Hong Kong's unemployment rate jumped to 5.2 percent in the three months ended March 31 - the highest level in more than three years.


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The head of the Hong Kong Monetary Authority, Joseph Yam, has described last year's economic turmoil as "the worst in his lifetime".

Gravy train off tracks for finance graduates

Beatrice Siu The Standard 17.04.2009
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The high-paying jobs for finance graduates are gone, at least for now, according to a survey.


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Annual growth in China's gross domestic product (GDP) slowed in the first quarter of 2009 to 6.1%, the National Bureau of Statistics has announced.

Getting Real

John Robertson HK-magazine 03.04.2009
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Is crass consumption still cool, given our dire economic climate? John Robertson speaks to some of the city’s leading opinion makers to find out.


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Chief Executive Donald Tsang says the task force on economic challenges will meet on Friday to discuss medium and long-term strategy to develop Hong Kong's economy. It will also study ways to promote the city's industries with high potential.

Mega events fund will be `money well spent'

Beatrice Siu The Standard 31.03.2009
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The government will be mindful of the 2003 Harbour Fest fiasco when touting the HK$100 million Mega Events Fund, lawmakers were told yesterday.



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