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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. Bankers upbeat on prospects as recovery lifts income and profits

    Posted Aug 31st 2009, 12:00am by Enoch Yiu

    ... Maria Chan and Enoch Yiu Hong Kong bankers are generally optimistic about the second half of this year, believing the economic recovery will gain momentum while improving investment markets will add fee income and trading profits. Provisions for the Lehman minibond losses have taken their toll, with some lenders making huge bad-debt provisions for the HK$6.3 billion ...

  6. Welfare group pushes for improvement in childcare services for low-income families

    Posted Aug 01st 2009, 12:00am by Martin Wong

    ... low-income families obtain needed services. She said the government last year launched a three-year pilot programme called the Neighbourhood Support Child Care Project, which encourages neighbours ...

  7. Pacific Basin income falls 78pc, forecast bleak

    Posted Aug 12th 2009, 12:00am by Charlotte So

    ... Charlotte So Pacific Basin Shipping has posted a 77.84 per cent plunge in net interim profit and warned that iron ore demand could fall in the second half, hurting shipping rates. Net profit fell to US$74.8 million in the six months to June from US$337.6 ...

  8. 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 ...

  9. 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 ...

  10. SHKP rent income to hit HK$300m at apm mall

    Posted Nov 13th 2009, 12:00am by Sandy Li

    ... Sandy Li Sun Hung Kai Properties expects annual rental income at its flagship apm shopping centre in East Kowloon will increase 10 per cent to HK$300 million this year. Maureen Fung Sau-yim (right), the general manager for leasing at Sun Hung Kai Real Estate, said rents for 10 new leases at apm had been renewed at rates 30 per cent higher than the previous terms. In the first ...




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