Business
World's biggest super-jumbos must be GROUNDED, say engineers after cracks are found in the wings of three Airbus A380sRob Waugh Daily Mail 01/11/2012 | Hong Kong Keeps Ban on Some Poultry Imports Due to Avian Flu TieNatasha Khan BusinessWeek 01/05/2012 |
 Australian aircraft engineers have called for Airbus A380 - the world's biggest passenger aircraft - to be grounded, after Singapore Airlines and Qantas found cracks in the wings of their super-jumbos. |  Poultry imports from the part of southern China where a man died from the H5N1 virus remain banned in Hong Kong after genetic tests linked the man’s strain of the disease the version found in wild birds in the city. |
HKEx finance chief quits Futures and Options Intelligence 01/05/2012 | Hong Kong Exchange maintains No 1 ranking in IPO fund raising Proactive Investors Australia 01/05/2012 |
 The chief financial officer at Hong Kong Exchanges and Clearing is to step down in March. |  Hong Kong’s Initial Public Offering (IPO) market, benefitting from the listing success of Glencore International’s IPO, beat New York Stock Exchange (NYSE) and London Stock Exchange (LSE) to the top rank. |
Retail sales value up 23.5 pct in HK雪萌 People's Daily 01/05/2012 | Hong Kong Stocks Decline as Wen Warns of ’Difficult’ Conditions for ChinaNick Gentle Bloomberg.com 01/05/2012 |
 The value of total retail sales in November was provisionally estimated at 33.4 billion HK dollars, a 23.5 percent increase over a year earlier, the Census & Statistics Department of the Hong Kong government said Tuesday. |  Hong Kong stocks (HSI) fell as Premier Wen Jiabao said China faces “relatively difficult” business conditions, tempering gains by exporters on better-than- estimated economic data from the U.S. and Germany. |
IMF urges members to boost funding under 2010 plan Reuters 12/24/2011 | Argentine government wins control of newsprintMICHAEL WARREN AP 12/24/2011 |
 IMF chief Christine Lagarde on Thursday urged member countries to quickly sign off on an agreement last year to double IMF resources and give under-represented nations, such as China, greater voting power in the global lender. |  The paper used to produce newspapers came under government control in Argentina on Thursday, in a long-sought victory for President Cristina Fernandez in her dispute with the country's opposition media. |
HK shares to open down 1.3 pct, Chinese developers in focus Reuters UK 12/20/2011 | Hong Kong securities watchdog ends probe of Macau casino firm Sands China, won’t take action The Washington Post 12/20/2011 |
 Hong Kong shares were set to start the week lower on Monday, dragged down by weakness in Chinese property developers after data over the weekend suggested November housing price growth was the slowest this year. |  A Macau casino operator controlled by billionaire Sheldon Adelson’s Las Vegas Sands Corp. says Hong Kong’s securities watchdog won’t take any action after ending a probe of possible breaches of finance regulations. |
Hong Kong Luxury Rents Reach 'Tipping Point'Kelvin Wong Bloomberg.com 12/20/2011 | Russian billionaire buys most expensive apartment in NYCElise Knutsen The New York Observer 12/20/2011 |
 Hong Kong luxury home rents, which fell last quarter for the first time since mid-2009, may slump 10 percent next year as banks and hedge funds scale back amid the threat of a global recession, according to brokers including Jones Lang LaSalle Inc. (JLL) and Colliers International. |  Dmitry Rybolovlev has been a busy man lately. He is in the middle of a bitter divorce that could cost him more than $6 billion (when finalized it will be the world’s costliest divorce), but he has still found the time and funds to buy a struggling AS Monaco soccer team and, it turns out, the most expensive home in the history of Manhattan real estate. Well-connected sources have confirmed to The Observer that the mystery Russian chemist behind the sale of Sandy Weill’s $88 million penthouse at 15 Central Park West is indeed Mr. Rybolovlev. |
French credit downgrade could come 'within days'Richard Wachman, Toby Helm and Kim Willsher The Guardian 12/20/2011 | Most stock funds post losses this year; bonds gainJohn Waggoner USA Today 12/20/2011 |
 France could be stripped of its triple-A credit rating before Christmas, raising new doubts about the survival of the euro, analysts have predicted. |  The average diversified U.S. stock mutual fund has fallen 5.9% this year, vs. a 1.4% loss for the Standard & Poor's 500-stock index, says Lipper, which tracks the funds. Out of 8,036 funds, 7,399, or 92%, are showing a loss — and some are doozies. |
ABN Restarts Hong Kong Commercial Banking in Asia ExpansionMaud van Gaal BusinessWeek 12/18/2011 | South China Morning Post (SCMP) Plans Launch of RedeeME, a New Upscale Group Buying Website South China Morning Post 12/18/2011 |
 ABN Amro Group NV, the Dutch lender nationalized in 2008, reopened a commercial banking unit in Hong Kong to win back some of the international presence lost after its takeover, breakup and government rescue. |  South China Morning Post revealed its plans to launch a new luxury discount offer website, targeting the discerning and upscale tastes of its typical readership profile. |
Hong Kong Toy Manufacturers’ Sales May Fall in 2012, FHKI SaysMichelle Yun BusinessWeek 12/18/2011 | Hong Kong still most competitive in nationJoseph Li China Daily 12/17/2011 |
 Toy manufacturers in Hong Kong, who exported HK$54.9 million ($7.2 million) of toys in the first nine months of this year, may see their sales fall next year as demand from the U.S. and Europe stagnates, according to the Federation of Hong Kong Industries. |  Hong Kong has a strong competitive edge over China's other cities, a study by the China Institute of City Competitiveness reveals. |
FS: Innovation and technology key to sustaining Hong Kong's competitiveness HKSAR Government 12/17/2011 | |
 Innovation and technology, one of Hong Kong's six industries for priority development being nurtured by the Government, is the most effective tool for sustaining the competitiveness of Hong Kong's companies and economy, the Financial Secretary, Mr John C Tsang, said yesterday (December 15). | |
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