New World Development Co (HK stock code 0017) is a Hong Kong conglomerate with operations in property, infrastructure, transport, retailing telecommunications and bus and ferry (New World First Ferry) operations.It is controlled by Chow Tai Fook, a holding company owned by businessman Cheng Yu-tung.
The new owner of Citybus and New World First Bus sold its 2.78 million shares to MTR Corporation.
As many as 128 SPACs have raised a combined US$38 billion in New York as of February, making it one of the latest fads in world finance since the explosive growth of cryptocurrencies.
Cargo transport firm Chu Kong Shipping Enterprises pays HK$232.8 million (US$30 million) for a 60 per cent stake in New World First Ferry Services.
Economist says people and companies might evaluate durability of their properties or facilities, which will end up driving up costs and spending.
After Mangkhut, one of the most powerful storms on record to hit the city, suspensions and delays mean confusion and long waits for residents.