CTF Services profit rises 15pc to $1.1b
CTF Services (0659) reported a 15 percent year-on-year increase in net profit to HK$1.16 billion for the six months ended December and maintained an interim dividend of HK$0.30 per share. The increase was driven by the growth of the insurance segment, a reduction in the operating loss of Gleneagles…
Sino Land underlying net plunges 24pc
Staff reporter Sino Land’s (0083) underlying profit fell nearly 24 percent to HK$2.24 billion for the second half of last year amid a sluggish property market but it maintained its interim dividend at 15 HK cents. Net profit for the period, which included revaluation loss on investment properties,…
China to recapitalize three major lenders
Bloomberg China plans to start recapitalizing three of its biggest banks in coming months, according to people familiar with the matter, following through on a broad stimulus package unveiled last year to shore up the struggling economy. Authorities are looking to inject at least 400 billion yuan…
Retail investors pump record $1.84tn into IPO
Staff reporter and agencies China’s fresh fruit drink giant Mixue Group’s retail tranche of its Hong Kong initial public offering was oversubscribed by nearly 5,319 times. It ultimately raked in nearly HK$1.84 trillion in margin loans from retail investors in borrowings through brokerages, since it…
Home broadband boosts SmarTone
SmarTone Telecommunications (0315) posted a 4.4 percent year-on-year rise in net profit to HK$257 million in the six months ending in December, thanks to its growing 5G home broadband service. The local telecom services provider maintained its interim dividend at 14.5 HK cents. The company recorded…
AI fever propels stocks to three-year high
Agencies and staff reporter Hong Kong stocks briefly jumped over 900 points yesterday, hitting a three-year high as the tech rally resumed amid artificial intelligence fever. The benchmark Hang Seng Index closed at 23,787 points, 753 points or 3.27 percent higher, with a main board turnover of…
Trump floats US$5m ‘gold card’ path to citizenship
US President Donald Trump has floated the idea of replacing a visa program for foreign investors with a so-called “gold card” that could be bought for US$5 million (HK$39 million) as a route to American citizenship. Trump said he will replace the EB-5 immigrant investor visa program, which allows…
Soil-dwelling bacteria kills 14 in Australia
A soil-dwelling bacteria has killed 14 people in Australia’s flood-hit state of Queensland, officials said, as health experts investigate what caused the outbreak. Melioidosis, a rare antibiotic-resistant disease caused by bacteria found in soil or mud, often surfaces in tropical areas after heavy…
Cruz control
Tony Cruz was excited to send Son Pak Fu back to Happy Valley and the six-year-old course specialist did not disappoint in the opening Class 1 contest last night. Despite starting third in the betting in the five-runner field, Son Pak Fu found just enough under Matthew Chadwick to overhaul odds-on…
Dubai calls for Howdeepisyourlove
Trainer John Size has confirmed Howdeepisyourlove will fly to Dubai to compete in the Group 1 Al Quoz Sprint (1,200 meters) on April 5 after the sprinter pulled up well from his third-place finish in Sunday’s G1 Queen’s Silver Jubilee Cup over 1,400m. Howdeepisyourlove continued his consistent run…
Hong Kong’s Paul Chan cuts spending in budget, plots AI path to future growth
Finance chief eyes new revenue sources while freezing pay for public servants, cutting civil service positions, reducing education spending.
Why does Hong Kong need 18 months to revise HK$2 public transport scheme?
Sources says cost-cutting revisions to scheme will not take effect until September 2026, with authorities blaming Octopus for the delay.
Hong Kong could rake in billions from basketball betting but experts have doubts
Government has invited the Hong Kong Jockey Club to submit a proposal on expanding its sports gambling options to include basketball.
US imposes sanctions on more Hong Kong firms for aiding Iran drone makers
Treasury Department alleges six companies obtained components for Iranian drones and missiles in violation of US bans.
‘Mild’ Hong Kong budget fails to deliver amid structural deficit fears: analysts
Finance chief Paul Chan has presented ‘very generous’ budget at time when city needs bold solutions to deficit woes, experts say.
EU trade chief Maros Sefcovic to visit China following Washington trip
27th February 2025 – (Brussels) Maros Sefcovic, the European Union’s trade and economic commissioner, is set to visit China at the end of March, marking his first trip to Beijing in this role. This visit follows Sefcovic’s initial trip to Washington last week, where he engaged with senior trade and commerce officials from the Trump […] The post EU trade chief Maros Sefcovic to visit China following Washington trip appeared first on Dimsum Daily.
Hang Seng Index opens lower as automotive stocks rally
27th February 2025 – (Hong Kong) The Hang Seng Index opened down by four points, or 0.01%, settling at 23,783 points. In contrast, the National Enterprises Index rose by three points, or 0.03%, to reach 8,795 points, while the Technology Index gained ten points, or 0.16%, reaching 5,963 points. In the technology sector, stocks exhibited […] The post Hang Seng Index opens lower as automotive stocks rally appeared first on Dimsum Daily.
Three injured in collision on Tai Po’s Tolo Highway
27th February 2025 – (Hong Kong) A traffic accident in Tai Po has left three individuals injured, as revealed by a 17-second dashcam video circulating online. The incident occurred around 1pm on 26th February, when a vehicle travelling along the fast lane of Tolo Highway towards Mui Shue Hang Playground was rear-ended by a following […] The post Three injured in collision on Tai Po’s Tolo Highway appeared first on Dimsum Daily.
Paul Chan calls for middle class understanding as benefits are reduced in latest budget
27th February 2025 – (Hong Kong) Financial Secretary Paul Chan unveiled the 2025 Budget on Wednesday, emphasising that the government’s decision to freeze salaries is a response to current economic conditions and the need for fiscal consolidation. In addressing concerns that short- to medium-term policies appear to target the middle class, Chan stressed the government’s […] The post Paul Chan calls for middle class understanding as benefits are reduced in latest budget appeared first on Dimsum Daily.
Hang Seng Index surpasses 24,000 mark as Xiaomi hits record high
27th February 2025 – (Hong Kong) On the day of the futures settlement, the Hang Seng Index opened lower at 23,783 points but quickly regained momentum, rising by 285 points, or 1.19%, to reach 24,073 points, marking a three-year high. The National Enterprises Index climbed by 111 points, or 1.26%, to 8,903 points, while the […] The post Hang Seng Index surpasses 24,000 mark as Xiaomi hits record high appeared first on Dimsum Daily.
U.S. Department of Agriculture projects egg prices to soar by 40%
27th February 2025 – (Washington) The U.S. Department of Agriculture (USDA) has forecast that egg prices could surge by over 40% in 2025, as the Trump administration revealed new details on its strategy to combat bird flu and alleviate rising costs on Wednesday. Agriculture Secretary Brooke Rollins announced that the USDA will invest an additional […] The post U.S. Department of Agriculture projects egg prices to soar by 40% appeared first on Dimsum Daily.
