Issue: July 12, 2012 (Archive)

Wednesday, May 22, 2013

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Central office rents fall as Kowloon East rises
Office rents in Central fell 7 percent during the first half from a year ago, Jones Lang LaSalle said yesterday.

Spain starts slashing 65b euros
Recession-plagued Spain unveiled new austerity measures yesterday designed to slash 65 billion euros (HK$616/97 billion) from the public deficit by 2014 as Prime Minister Mariano Rajoy yielded to EU pressure to try to avoid a full state bailout.

Broker accused of abusing clients' funds
The US futures industry is reeling as 20-year-old Iowa-based broker PFGBest collapsed after regulators accused it of misappropriating customer funds for more than two years - dealing a new blow to trader trust just months after MF Global's demise.

Stand by for squalls from China's GDP
When the Hang Seng Index was at the 19,800 level last week my advice was to wait for a correction near 19,200 before looking to scoop up bargains. Yesterday, the HSI hit an intra-day low of 19,233 and closed at 19,419, up 23 points.

Canberra seeks direct yuan conversion
Australia and Hong Kong officials will discuss the potential for direct conversion of the Australian dollar and the yuan, particularly in the area of commodity exports, Australian Treasurer Wayne Swan said yesterday.

Derivatives set to go over the counter
Hong Kong Exchanges and Clearing (0388) is to provide a central clearing service for over-the-counter derivatives this year.

Lender helps firms move listing from US
State-owned China Development Bank is providing more than US$1 billion (HK$7.8 billion) to help smaller companies leave the US stock market and move their listings to Hong Kong and other exchanges.

Debutantes braced for big day
Four companies are set to start trading on the main board today, making it one of the busiest days this year for listings.

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