Baptist Hospital sees monthly deficits after birth ban on mainland Chinese mothers

Since the zero-quota rule came into effect at the beginning of this year, the number of monthly births has fallen from about 1,000 to 200. Photo: Bloomberg

Since the zero-quota rule came into effect at the beginning of this year, the number of monthly births has fallen from about 1,000 to 200, prompting the hospital to slash the number of beds in its maternity section.

Wednesday, 27 March, 2013, 6:06am

SFC expects HK$435m deficit in new year

SFC chairman Carlson Tong says the regulator will not cut the levy on share transactions as it needs to maintain its reserves in the event of market volatility. Photo: Edward Wong

At its regular monthly meeting yesterday, lawmakers of the financial affairs panel passed a non-binding motion to call on the regulator to slash or suspend its levy on investors.

5 Feb 2013 - 5:26am

SFC signals HK$232m deficit for year as income misses target

The SFC will move to the Cheung Kong Center. Photo: Jonathan Wong

The Securities and Futures Commission expects to remain in the red this year, with a total deficit of HK$435.16 million caused by lower fee income and rising staff costs, the second consecutive year the regulator will lose money.

29 Jan 2013 - 6:17am

Bailing out the wrong guys

High US unemployment has been exacerbated by homeowners being deeply in debt and owing more than their homes are worth. Photo: AFP

The stuttering growth of the once almighty US economy, especially the sluggish creation of new jobs, is having a profoundly depressing impact worldwide, dragging querulous Europe and even high-flying Asian economies down to earth.

28 Nov 2012 - 2:34am

Corporate US awaits Obama action on deficit

Returned US President Barack Obama and Vice-President Joe Biden celebrate their victory in Tuesday's poll over Mitt Romney. Photo: AFP

Wall Street executives who lost the bet that Mitt Romney would defeat Barack Obama are bracing for tougher regulation and hoping a deal can be struck with Congress to cut the deficit.

9 Nov 2012 - 3:59am

Securities and Futures Commission runs up deficit

The SFC will move to the Cheong Kong Center. Photo: Jonathan Wong

Poor market sentiment has hit not only the earnings of listed firms, especially those in the financial sector, it has also hammered their regulator, costing stock investors the break on fees some had hoped for.

The Securities and Futures Commission (SFC) has run up a deficit in recent months and expects worse in this quarter, according to people close to the watchdog.

31 Oct 2012 - 4:26am

Taxman adds to our embarrassing riches

The inability to make accurate forecasts must be a key qualification to work as a top government official. This is the impression you get from listening to people like Chu Yam-yuen, the city's top taxman. This week, Chu announced that his department had collected a record HK$238.3 billion in 2011-12, 14 per cent up from the record set in the preceding year.

4 May 2012 - 12:00am

Forget a banking union, only fiscal discipline can save the euro zone

The European think tank Breugel recently produced a report suggesting there was a fundamental 'trilemma' between the European monetary union, national banking systems and the lack of fiscal union. This added a twist to the old argument that, for a single currency, you need a single fiscal policy.

28 Apr 2012 - 12:00am

Falling FDI piles on pressure for monetary easing

The recent decline in China's foreign direct investment intensified last month, adding pressure for a heavier dose of monetary easing.

16 Mar 2012 - 12:00am

The people our budgets forget

More of the same' does not begin to describe the ultraconservative nature of the financial secretary's budget for 2012-13, even allowing for its 'caretaker' nature as the last budget of the current administration.

12 Feb 2012 - 12:00am

What does Lagarde know about capitalism or fiscal discipline?

As Europe struggles with its debt crisis ... there is a sense at the heavily guarded World Economic Forum that free markets are on trial.'

SCMP, January 26

International Monetary Fund chief Christine Lagarde joined world financial and trade organisation chiefs in warning policymakers gathering at Davos next week against fiscal cuts that jeopardise growth.

29 Jan 2012 - 12:00am

Fiscal revenue up 24.8pc to record

The mainland's fiscal revenue jumped 24.8 per cent to a record high of 10.37 trillion yuan (HK$12.7 trillion) last year, continuing to outpace growth in economic output and household incomes.

21 Jan 2012 - 12:00am

Government posts HK$75.1b budget surplus

The government posted a HK$75.1 billion surplus for the past financial year, boosting fiscal reserves to HK$595.4 billion, the Financial Services and the Treasury Bureau said yesterday. It said the surplus was about HK$3.8 billion more than the last estimate, released in February, owing to higher land premium receipts and less expenditure.

30 Apr 2011 - 12:00am

Politics and economics to collide in today's budget

Politics will collide head-on with economics today when Financial Secretary John Tsang Chun-wah gets up to deliver his 2011 budget speech.

Tsang's problem is that he is under intense political pressure to come up with a generous package of budget giveaways, while economic common sense dictates that the government should be tightening its fiscal stance.

23 Feb 2011 - 12:00am

Germany bashing takes G20 spotlight off China

China's announcement last week that it is to ditch its currency peg to the US dollar looks set successfully to deflect criticisms of Beijing's economic policies at this weekend's Group of 20 meeting in Toronto.

25 Jun 2010 - 12:00am