Talking points

Hongkongers will be keeping one eye on their wallets and another on the television as Financial Secretary John Tsang Chun-wah delivers his budget plan. Tsang is expected to take advantage of the healthy surplus in the government account to offer handouts and tax breaks, although government sources have hinted that these will be less generous than last year's.

Members of the European Parliament and diplomats will stage talks in Brussels over the Basel rules on banking compliance, after talks broke down without a deal last week. The talks will cover issues such as bankers' bonuses, capital requirements for big lenders and powers available to the European Banking Authority. The EU must forge a deal soon so that the new Basel III requirements, intended to stabilise the global banking system, can kick in as planned at the beginning of next year.