Briefs, December 4, 2012

New flats to reach 74pc of target, says Ricacorp

Ricacorp Properties expects 8,800 new flats to be completed this year, about 74 per cent of the government's target of 11,888. Its estimate came after the Building Department issued three occupation permits in October, covering 717 completed units. For the year's first 10 months, 6,845 units were finished, Ricacorp said. Sandy Li

Macau's gambling revenue jumps 7.9pc

Gambling revenue in Macau rose 7.9 per cent from a year earlier to 24.88 billion patacas last month, boosted by strong spending from the mainland's middle class, who continue to flock across the border. Annual revenue is expected to reach US$38 billion, more than six times that of Las Vegas. Reuters

Kerry Logistics building parts facility in Jiangsu

Kerry Logistics has begun to build a 33,700 square metre vehicle parts logistics facility in Kunshan, Jiangsu province, for Daimler Northeast Asia Parts Trading and Services. The complex, which will start operating in 2014, will be Daimler's first purpose-built regional parts distribution centre in China. Kerry Logistics is part of the Kerry Group, as is the publisher of this newspaper. Keith Wallis

UK watchdog to ban questionable products

Britain's new financial watchdog, the Financial Conduct Authority, to be launched in April, will temporarily ban financial products for up to a year rather than wait for the results of a full investigation, if it feels they do not offer value for money or make it harder for consumers to shop around. Reuters