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  1. HK income gap 'widest among rich economies'

    Posted Oct 23rd 2009, 12:00am by Staff Reporter

    ... Daniel Sin The income gap between the rich and poor in Hong Kong is the widest among the world's wealthiest economies, according to a UN report. The report also shows that the richest 10 per cent in the city enjoy about a third of the total income, while the poorest 10 per cent share just 2 per cent. The Human Development Report, released by the United Nations Development ...

  2. Building up steam

    Posted Nov 07th 2009, 12:00am by Chris Davis

    ... Chris Davis The difference between the first half of the year and the revival during the second half has generated momentum in the banking and finance sector and, with it, an upswing in recruitment activity. However, what effect is hiring activity having ...

  3. Record number of people living under poverty line

    Posted Sep 28th 2009, 12:00am by Austin Chiu

    ... data. The poverty rate was 17.9 per cent in the first half of the year, compared with 17.6 per cent last year. The definition of poverty in the study involves people earning an income equal to or less than half the median monthly domestic household income, which is set according to the number of members in a family. The median for the first half of 2009 was HK$3,300 for a single-member ...

  4. Widening income gap spurs call for tax reform, pay rises

    Posted Dec 12th 2009, 12:00am by Minnie Chan

    ... Minnie Chan Rising income disparity on the mainland means the wealthy should be taxed more and poor people should be paid more, according to a labour and economics academic. As it stands, ... of Renmin University's School of Labour and Human Resources, said the income gap between rich and poor had risen steadily since 1984. 'According to latest statistics, the poorest 10 per ...

  5. 'Lift conditions' on minibond deal

    Posted Sep 12th 2009, 12:00am by Dennis Eng

    ... Dennis Eng So-called experienced investors who poured millions into minibonds soured by the collapse of Wall Street giant Lehman Brothers a year ago want conditions barring them from a compensation deal to be lifted, Democrat lawmaker Kam Nai-wai said aft ...

  6. A gaping hole in the mantra of social harmony

    Posted May 24th 2009, 12:00am by Staff Reporter

    ... financially and socially. A recent survey by McKinsey estimates that at the end of last year, the mainland had 1.6 million wealthy households- defined as having annual incomes of more than 250,000 ... income rose 8.6 per cent year on year in the first quarter of this year, their urban counterparts posted an 11.2 per cent income increase. 'Urban residents have suffered much less than rural ...

  7. Link tops forecasts with 19.3pc rise in distributable income on rental mix

    Posted Nov 20th 2009, 12:00am by Yvonne Liu

    ... Yvonne Liu The Link Real Estate Investment Trust yesterday exceeded analysts' expectations by posting a 19.3 per cent jump in distributable income for the six months to September, thanks to improvements in occupancy rates and rental growth. Distributable income rose to HK$1.06 billion from HK$884 million in the same period last year. It was achieved on the back ...

  8. Government's bonds look a poor buy for retail investors

    Posted May 20th 2009, 12:00am by Tom Holland

    ... a small income, and are typically favoured by cautious folk approaching their retirement. That at least is the idea. But a quick look back over the past two decades shows that in Hong Kong, things ... is only about 2 per cent anyway, a spread that wide is enough to wipe out an entire year's income for the ordinary investor. That's a big deterrent to buying. So, if the government ...

  9. HK$100b bond fund gets Legco green light

    Posted Jul 09th 2009, 12:00am by Dennis Eng

    ... Dennis Eng The government secured approval from the Legislative Council yesterday to set up a bond fund and issue up to HK$100 billion worth of debt in a first step towards developing a local bond market. The motion won broad support from legislators but ...

  10. Bocom reports flat earnings despite soaring fee income and loan growth

    Posted Oct 29th 2009, 12:00am by Staff Reporter

    ... fee-based income and rapid loan growth offset narrower net interest margins. The Shanghai-based lender, nearly 20 per cent owned by HSBC Holdings, posted a net profit of 7.32 billion yuan (HK$8.31 billion) in the three months to September, compared with 7.21 billion yuan last year. For the first three quarters, it earned 22.87 billion yuan. 'The fee-based income is a bright spot ...




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