Hong Kong - Hong Kong stocks opened more than 5 per cent lower Thursday, joining a regional downward spiral in share prices following heavy overnight losses on Wall Street.
The blue-chip Hang Seng Index was down 690.71 points, or 5.39 per cent, in the first 10 minutes of trading Thursday, leaving the index at 12,125.09.
The losses come after the Dow Jones Index in the US fell 5 per cent overnight to close below 8,000 points, triggering falls in Asian markets including Australia, Japan and South Korea.
Hong Kong - Cathay Pacific Airways said Wednesday that it has scrapped the traditional end-of-year bonus for all its Hong Kong staff in a cost-cutting measure sparked by the global economic crisis.
Chief executive Tony Tyler blamed the move on the difficulties the airline was facing because of fuel price hikes earlier this year and the worsening economic downturn.
Hong Kong - The number of job vacancies in Hong Kong has plunged by 13 per cent in a month as the global economic crisis has forced mass layoffs, the government revealed Wednesday.
Government statistics show there were 9,000 fewer job openings in October compared to September.
The jobless rate has risen by 0.1 percentage points to 3.5 per cent, taking it to its highest level in almost a year.
The statistics were released amid growing gloom in Hong Kong following a number of big layoffs this month.
Hong Kong - A jobless driver leapt to his death from the 33rd floor of a building in Hong Kong, becoming the latest victim of the economic downturn, police said Wednesday.
The 29-year-old married man was confirmed dead at the scene after jumping Tuesday evening from the window of his flat. He had been out of work for a month.
His suicide came as government statistics revealed growing job losses and a fall in the number of job vacancies in the city of 6.9 million people.
Hong Kong - The majority of consumers in Asia are skeptical about the motives behind companies that sponsor environmentally friendly initiatives, a global study published Tuesday claimed.
Most believed companies only sponsor green initiatives to improve their public image or to sell more products rather than because they cared about the environment, the study of green perceptions, attitudes and behaviour concluded.
Of the six Asian countries included in TNS Our Green World study, the Koreans emerged as being the most skeptical, with only 5 per cent of those questioned believing companies went green because they cared.
Hong Kong - Hong Kong stocks opened more than 5 per cent lower Thursday, joining a regional downward spiral in share prices following heavy overnight losses on Wall Street.
Hong Kong - Cathay Pacific Airways said Wednesday that it has scrapped the traditional end-of-year bonus for all its Hong Kong staff in a cost-cutting measure sparked by the global economic crisis.
Hong Kong - The number of job vacancies in Hong Kong has plunged by 13 per cent in a month as the global economic crisis has forced mass layoffs, the government revealed Wednesday.
Hong Kong - A jobless driver leapt to his death from the 33rd floor of a building in Hong Kong, becoming the latest victim of the economic downturn, police said Wednesday.
Hong Kong - Hong Kong stocks sunk 4.5 per cent lower Tuesday amid increasing pessimism sparked by news of layoffs in the financial sector.
