PRESS DIGEST - Hong Kong - June 27

Reuters

HONG KONG, June 27 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Friday. Reuters has not verified these stories and does not vouch for their accuracy.

SOUTH CHINA MORNING POST

-- Ratings agency Moody's restated its negative outlook on the city's banking system in a new report, highlighting the risks to lenders over the next 12 to 18 months from rapidly expanding exposure to mainland borrowers. (http://bit.ly/1miQkIb)

-- Hong Kong's privacy chief has renewed his call for Google to provide its "right to be forgotten" globally - including in Hong Kong - as international pressure mounts on the internet search giant to apply the new safeguard beyond Europe. (http://bit.ly/1ljj6Ix)

-- Russia's Gazprom, the world's largest natural gas producer, has been in discussions about a Hong Kong listing and may use the yuan in a recently agreed gas export deal with China, as it seeks to reduce reliance on the European market. (http://bit.ly/1mAsNay)

THE STANDARD

-- Existing China UnionPay terminals can remain inside casinos after July 1, but no new terminals can be added, Macau's Secretary for Economy and Finance, Francis Tam Pak-yuen, said. (http://bit.ly/1sJ8dcR)

-- China Construction Bank bought an office building in London for 110 million pounds ($184.70 million) as it expands in Europe after becoming the first yuan clearing bank in the British capital. (http://bit.ly/1po2hEM)

-- Restaurant chain operator Tsui Wah Holdings raised prices on its menu in May despite an 18.8 percent increase in annual net profit to HK$156 million ($20.13 million). That solid profit serving contrasted sharply with a sharp slip in earnings at rival Fairwood Holdings. (http://bit.ly/1lt16QR)

HONG KONG ECONOMIC JOURNAL

-- The Securities and Futures Commission, Hong Kong's securities watchdog, posted a loss of HK$139 million ($17.93 million) for the year ended March, compared with a loss of HK$14.09 million in the previous year, as staff costs and directors' fee increased.

HONG KONG ECONOMIC TIMES

-- Six listing candidates will open their retail books next week, raising up to a total of HK$4.1 billion ($528.93 million) in their initial public offerings in Hong Kong. Of this, Inner Mongolia-based milk producer Shengmu is expected to raise up to HK$1.31 billion.

For Chinese newspapers, see...............

($1 = 7.7515 Hong Kong Dollars) ($1 = 0.5956 British Pounds) (Reporting by Donny Kwok; Editing by Subhranshu Sahu)

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