Approval given for HK$180m fund to stimulate community activity
Lawmakers yesterday passed an additional HK$180 million for the Home Affairs Department to help local communities in the face of the economic downturn. The one-off fund is expected to include HK$108 million for district councils to promote cultural, arts and sporting activities, while HK$45 million will be used centrally to produce events themed around sports, arts and cultural events and ecological tourism. Allocations will be based on continuity, professionalism and inclusiveness.
URA staff in line for 2pc pay rise
Staff of the Urban Renewal Authority will reportedly enjoy a pay rise of 2 per cent this year. A spokesman declined to comment yesterday but said the board agreed that higher performing staff would be rewarded and lower-ranking staff would receive higher percentage pay increases than senior management.
Lehman resolutions near end
A total of 12,900 complaint cases concerning Lehman Brothers Holdings-related investment products have been resolved by a settlement agreement, the Hong Kong Monetary Authority said last night. Investigations have been concluded for 80 per cent of the cases, with 1,039 complaints still under disciplinary consideration.