Hong Kong

Hong Kong construction workers demand help after Macau lay-offs

Hong Kong construction workers demand help after Macau lay-offs Hong Kong  - Scores of construction workers staged a rally in Hong Kong Monday calling for government help after 4,000 of the city's labourers lost their jobs in neighbouring Macau last week.

The workers demanded that major government infrastructure projects be brought forward to prevent mass unemployment in the construction industry as a result of the slowdown.

Pupils quit top Hong Kong schools as slump-hit expats go home

Pupils quit top Hong Kong schools as slump-hit expats go home Hong Kong  - Children are being pulled out of Hong Kong's top international schools in unusually high numbers as the global slump forces expatriates to quit the city, a news report said Monday.

Up to 50 students have left each of the wealthy city's most prestigious fee-paying international schools in recent months as expatriates are recalled, the Hong Kong Standard said.

Asia's richest woman was feng shui master's lover, court told

Asia's richest woman was feng shui master's lover, court told Hong Kong  - Asia's richest woman, according to court testimony, was the lover of a feng shui master for 14 years before leaving him her entire multibillion-US-dollar fortune, a news report said Saturday.

Lawyers for feng shui master Tony Chan said he and Nina Wang shared a "long-lasting, close and affectionate love" from 1993 to her death last year, the South China Morning Post reported.

Hong Kong slides into recession as global slump worsens

Hong Kong FlagHong Kong - Hong Kong has fallen into recession after recording a second consecutive quarter of contracting economic growth between July and September, according to government figures Friday.

The rate of gross domestic product growth in the city of 6.9 million fell from 4.2 per cent between April and June to 1.7 per cent in the third quarter compared to the same quarters last year.

The figure represented a 0.5 per cent contraction in growth from the previous quarter, the second consecutive quarterly contraction, meaning Hong Kong is now in a technical recession.

Hong Kong goes into recession as global slump halts growth

Hong Kong FlagHong Kong - Hong Kong fell into a recession Friday as government figures showed a second quarter of contracted growth with the economy growing just 1.7 per cent in the year's third quarter.

The rate of gross domestic product growth in the city of 6.9 million fell from 4.2 per cent in the second quarter to 1.7 per cent in the third, according to official figures.

The Hong Kong government responded by revising downwards its growth forecasts for the year from 4 to 5 per cent to between 3 and 3.5 per cent, meaning it anticipates a possible fourth quarter contraction.

Hong Kong shares rebound more than 2 per cent on bargain-hunting

Hong Kong shares rebound more than 2 per cent on bargain-hunting Hong Kong  - Bargain-hunters drove Hong Kong share prices up by more than 2 per cent Friday as nerves eased slightly following heavy losses a day earlier.

The blue-chip Hang Seng Index rose 321.31 points, or 2.43 per cent, to end the week at 13,542.66 points. Turnover was a relatively light 44.7 billion Hong Kong dollars (5.76 billion US dollars).

The minor rebound came after the index fell back more than 5 per cent Thursday. Shares jumped more than 3.5 per cent in early trading Friday but fell back later in the day.

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