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  • February 28, 2015
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China's central bank announces long-awaited rate cut to boost economy

The People's Bank Of China headquarters in Beijing's financial district. Photo: Bloomberg Breaking

China’s central bank announced on Saturday it would cut benchmark interest rates by 25 basis points to 5.35 per cent, in a widely expected move to join global central banks to ease liquidity amid growing challenges for economic growth.

Saturday, 28 February, 2015, 8:06pm

New property cooling measures will see higher down payments for Hong Kong buyers

Property sales agents chat during the roadshow of a residential property development in Hong Kong. Photo: Reuters

Norman Chan Tak-Lam today announced measures to cool Hong Kong's property market after the city's house prices had reached what he called an historical high.

28 Feb 2015 - 10:04am 31 comments More on Hong Kong Budget 2015

Coming soon: Bruce Lee's daughter kick-starts plans for Hong Kong legend's official biopic

Bruce Lee's incredible martial arts moves are what most of his fans remember. His daughter Shannon Lee says his official biopic will explore other aspects of his life, such as his art and philosophies. Photo: SCMP Pictures

Legendary Hong Kong martial arts star Bruce Lee is getting the official biopic treatment, daughter Shannon Lee has announced.

28 Feb 2015 - 2:50pm 1 comment

Senior military official Liu Zheng expelled from parliament in anti-graft drive

Senior military official Liu Zheng expelled from parliament in anti-graft drive

China has booted a senior military official who is embroiled in a corruption scandal from its parliament, state media reported on Saturday.

28 Feb 2015 - 3:18pm

India's budget pledges infrastructure spending to help economy ‘fly’

India's Finance Minister Arun Jaitley (centre) holds a briefcase containing budget documents on Saturday. Photo: EPA

India’s finance minister pledged major investment in infrastructure on Saturday, saying it was time for the economy to “fly”, as he unveiled the new centre-right government’s first full budget.

28 Feb 2015 - 5:01pm

Negative online comments against Hongkongers surge since Lunar New Year holiday

Negative online comments against Hongkongers surge since Lunar New Year holiday

Widespread criticism of Hongkongers, including calls for travel boycotts to the territory, have emerged in mainland online forums in the wake of angry protests against tourist shoppers in Sha Tin and Tuen Mun.

28 Feb 2015 - 9:44am 31 comments

Xi Jinping captains top officials in planning how to give Chinese soccer a boost

Xi Jinping shows his skills on a trip to Dublin. Photo: AFP

China's top leaders met on Friday to discuss and approve a plan to revive the country's ailing soccer fortunes.

28 Feb 2015 - 2:53pm 4 comments

Erwiana’s former boss jailed for six years as judge calls her behaviour ‘contemptible’

Erwiana meets her supporters outside Wan Chai District Court following the sentencing of her former employer Law Wan-tung. Photo: Dickson Lee Update

The abusive former employer of Indonesian domestic worker Erwiana Sulistyaningsih was sentenced to six years in prison and fined HK$15,000 at the District Court this morning.

27 Feb 2015 - 6:58pm 66 comments More on Erwiana Sulistyaningsih

HK$1,000 notes tumble out of Tai Po flat - but this time there's no cash grab

Police officers arrive to investigate. Photo: SCMP Pictures

It was déjà vu when HK$1,000 banknotes fluttered down from a flat onto a Tai Po street on Friday night.

28 Feb 2015 - 3:02am 2 comments

Hong Kong minister says pro-democracy camp is softening on Beijing's electoral proposal

(From left) Basic Law Institute chief Alan Hoo with Liberal Party lawmakers Frankie Yick and Vincent Fang at Legco.Photo: Dickson Lee

In an unprecedented move, the constitutional affairs minister on Friday said he was "cautiously optimistic" that the Legislative Council would eventually pass the government's political reform proposal.

28 Feb 2015 - 1:17am

By-election for Albert Ho's Legco seat may be a year away, Hong Kong government source says

Logistical problems could delay a citywide by-election intended to serve as a "de facto referendum" on political reform until as late as March next year, a government source has said.

28 Feb 2015 - 1:46am 4 comments

China's first Silk Road deals to be signed next month, report reveals

China will sign a series of agreements with countries including Kazakhstan and Pakistan next month as part of Beijing's plan to stimulate economic development along the ancient Silk Road.

28 Feb 2015 - 11:18am
China's graft buster resurrects story of corrupt Qing dynasty prince - but who is it aimed at?

China's graft buster resurrects story of corrupt Qing dynasty prince - but who is it aimed at?

28 Feb 2015 - 9:31am
Lau Kin-wai, a food critic, owns Kin's Kitchen restaurant. His business benefits from a waiver on licence fees.

The people's verdict on Hong Kong's budget

28 Feb 2015 - 9:45am
Blur (from far left): Graham Coxon, Damon Albarn, Alex James and Dave Rowntree. Photos: Linda Brownlee/Warner Music, Corbis

Hong Kong's impact on Blur like Berlin's on David Bowie, Damon Albarn says

28 Feb 2015 - 10:28am
'The reality is if they can get away with it then some people will still do whatever they think will make them money', says Nick Leeson. Photo: Handout

Rogue trader Nick Leeson: There will be more financial scandals while people go unpunished

27 Feb 2015 - 2:52pm 2 comments
Protesters clash with police officers during a rally against parallel trading at New Town Plaza in Sha Tin earlier this month. Photo: Felix Wong

Security stepped up for fresh Hong Kong anti-parallel trading protest as 500 police drafted in

27 Feb 2015 - 3:41pm 13 comments
The speedboat capsized before dawn. Photo: SCMP Pictures

10 missing as boatload of illegal 'gamblers' from mainland China capsizes

28 Feb 2015 - 1:32am
Chinese investors could fall prey to fraud under a US immigration scheme. Photo: Bloomberg

Green card schemers 'out to dupe Chinese investors', says US congress advisory group

28 Feb 2015 - 10:27am 4 comments
Hong Kong manufacturers have been urged to consider relocating to cheaper bases, such as Cambodia. Photo: Denise Tsang

Beijing's new Silk Road may be a break for Hong Kong manufacturers

28 Feb 2015 - 11:18am 2 comments
Henry Chau denies murder. Photo: Felix Wong

Hong Kong murder accused was easily led but wouldn't hurt anyone, court hears

28 Feb 2015 - 1:27am
The Hong Kong Monetary Authority yesterday announced a new round of mortgage tightening measures in a bid to cool off the city's residential sales market after prices reached an all-time peak. Photo: Bloomberg

Latest cooling measures on home sales 'may drive rents higher'

28 Feb 2015 - 2:50am 2 comments

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Power shift: China to boost clean energy investment

SCMP ePaper Edition

28 Feb 2015
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Leader

The Monetary Authority yesterday moved to rein in the red-hot property market by tightening the rules for mortgage loans for medium sized flats. Photo: Bloomberg

The fundamental problems of the property market remain

28 Feb 2015 - 12:51am 7 comments
The Urban Renewal Authority has announced a HK$1.2 billion plan to redevelop the connected low-rises on Chun Tin Street. Photo: Felix Wong

Finding the right balance between heritage and viability

28 Feb 2015 - 1:00am 2 comments

Today's Poll

  • Yes: 45%
  • No: 55%
25 Feb 2015
  • Yes
  • No
Total number of votes recorded: 731

Insight

With war commemoration, China and Russia seek a historical narrative distinct from the West's

By 1945, both nations had suffered to an extent many even in occupied Western Europe - let alone more remote America - could only struggle to comprehend. Paul Letters

Last week, China and Russia announced their intention to plan joint commemorations for the 70th anniversary of the end of the second world war. Such cuddling up on the world stage may appear merely a modern political convenience against Western antipathy.

27 Feb 2015 - 4:22pm 11 comments

Focus

The people's verdict on Hong Kong's budget

Lau Kin-wai, a food critic, owns Kin's Kitchen restaurant. His business benefits from a waiver on licence fees. ALAN YU

As the ink dries on Hong Kong's giveaway budget chock-a-block with sweeteners aimed at defusing political strife, people are weighing up what they are getting - or not getting.

28 Feb 2015 - 9:45am

Harry's View

China

The People's Bank Of China headquarters in Beijing's financial district. Photo: Bloomberg BANKING

China's central bank announces long-awaited rate cut to boost economy

Breaking

China’s central bank announced on Saturday it would cut benchmark interest rates by 25 basis points to 5.35 per cent, in a widely expected move to join global central banks to ease liquidity amid growing challenges for economic growth.

28 Feb 2015 - 8:06pm

Asia

India's Finance Minister Arun Jaitley (centre) holds a briefcase containing budget documents on Saturday. Photo: EPA INDIA

India's budget pledges infrastructure spending to help economy ‘fly’

India’s finance minister pledged major investment in infrastructure on Saturday, saying it was time for the economy to “fly”, as he unveiled the new centre-right government’s first full budget.

28 Feb 2015 - 5:01pm

World

Mexican federal agents escort the leader of the Los Caballeros Templarios (Knights Templar) cartel, Servando Gomez Martinez, alias La Tuta, to a secure facility. Photo: EPA

Mexican schoolteacher turned Knights Templar drug lord arrested in ambush

Mexican police nabbed the most-wanted drug lord Servando Gomez, a former schoolteacher whose Knights Templar cartel which smuggled drugs to the US and illegally shipped iron ore to China.

28 Feb 2015 - 3:56pm

Business

Chinese investment in US real estate included the US$1.95 billion sale of the Waldorf Astoria hotel in New York to Anbang Insurance Group in October 2014. Photo: AP ECONOMY

China's US M&A surge won't fix economic imbalance, says USCC

A surge in foreign investment from China into the US is insufficient to rebalance the economic relationship between the two countries, with Beijing still unwilling to offer reciprocal market access to American investors, a Congressional commission says in a new report.

27 Feb 2015 - 10:28pm
EARNINGS

SHKP annual sales reach 90pc of target as first-half profit dips

Sun Hung Kai Properties, the city's second-largest developer in terms of market capitalisation, says it has locked in HK$28 billion, or nearly 90 per cent of its sales target for the year to June, after it reported a decline in first-half earnings.

28 Feb 2015 - 12:45pm

Property

The volume of sales of luxury apartments in Shanghai worth more than 10 million yuan fell 34 per cent last year to 2,246 units from 2013. Photo: AFP RESIDENTIAL

Chinese developers to raise luxury home prices in prime cities

Some Chinese developers are planning to raise prices for new luxury projects in prime areas this year, in a rare sign of improving sentiment in a market that saw new home prices fall for the last eight months of 2014.

24 Feb 2015 - 6:22pm More on China Property
INTERNET

Greenland to diversify into internet finance

Greenland Hong Kong, the Hong Kong-listed unit of the mainland’s largest developer by sales, announced it would diversify into internet finance this year, hoping to capitalise on the cyber world to offer financial services to cash-strapped mainland developers.

11 Feb 2015 - 6:11am More on China Property
STRATEGY

Golden Wheel Tiandi on a roll with metro projects

11 Feb 2015

More Property news

Former model Helena Rizzo of Mani restaurant in Sao Paulo, Brazil, was named top female chef in the world by Restaurant magazine.

Ex-models take on new careers in the kitchen

Food and models are not an obvious pairing. Yet increasingly they are moving from catwalk to kitchen - among them Hong Kong's Amanda Strang, supermodels Jourdan Dunn and Karlie Kloss, and Helena Rizzo, named world's best woman chef.

27 Feb 2015 - 10:13am

Hong Kong hawkers find finance chief’s food truck plan unappetising

26 Feb 2015 15 comments

Restaurant review: New-look Pawn wins with starters

26 Feb 2015
Green lights on the Tesla's display show that the vehicle is charging. Photo: Weibo

Chinese Tesla owner turns power line into illegal personal charging station

The owner of a Tesla electric car in China's Sichuan province came up with an innovative way of charging his vehicle: plug it directly into a power line.

27 Feb 2015 - 6:39pm 5 comments More on Tesla

Apple Watch to debut on March 9, with China in the company's sights

27 Feb 2015

WTO rules make it difficult for Cisco and Apple to challenge Chinese government 'black list'

27 Feb 2015 1 comment

Magazines

Sport

Afghanistan captain Samiullah Shenwari lofts the ball away to the boundary as Scotland wicketkeeper Matthew Cross (L) looks on. Photos: AFP CRICKET

HKCA urges ICC to stage 16-team World Cup with associate nations

Hong Kong has called for a 16-team World Cup in 2019 after the International Cricket Council indicated yesterday the proposal to cut the showpiece to 10 might not be a good idea after all.

27 Feb 2015 - 11:12pm More on Cricket World Cup 2015

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