Hong Kong - A prominent retired businessman appeared in court Tuesday, accused of taking bribes of more than 50,000 US dollars for helping people join Hong Kong's prestigious Jockey Club.

John Hung, 70, a former executive director of Wharf Holdings and managing director of a property company, allegedly accepted the money in return for proposing applicants for full membership.

He is accused of soliciting a loan of more than 25,000 US dollars and accepting two other loans of 12,500 US dollars in return for helping would-be members.

Hong Kong  - A prominent retired businessman appeared in court Tuesday, accused of taking bribes of more than 50,000 US dollars for helping people join Hong Kong's prestigious Jockey Club.

John Hung, 70, a former executive director of Wharf Holdings and managing director of a property company, allegedly accepted the money in return for proposing applicants for full membership.

He is accused of soliciting a loan of more than 25,000 US dollars and accepting two other loans of 12,500 US dollars in return for helping would-be members.

Hong Kong - Hong Kong was facing a severe egg shortage Monday after imports from China were halted because of the discovery of the chemical melamine in some eggs.

Supplies from China are believed to have fallen by 80 per cent in recent weeks after the discovery in October of the same chemical in eggs that caused a nationwide milk scare a month earlier.

Hong Kong  - Hong Kong stocks rose by 3.52 per cent Monday as investors reacted positively to a 600 billion-US-dollar economic stimulus package for the Chinese economy announced by Beijing.

The blue-chip Hang Seng Index consolidated a 3 per cent rise in share prices on Friday with a 501.2-point rise to close the day at 14,744.63.

In early trading, the market soared by 5.5 per cent to break through the 15,000-point barrier before falling back later in the day. Turnover was 60.7 billion Hong Kong dollars (7.83 billion US dollars).

Hong Kong  - Sixty-four per cent of Hong Kong residents believe tougher economic times lie ahead because of the global financial meltdown, according to a survey released Monday.

Only 3 per cent of the 1,000 people interviewed said they thought the economy would improve in the short-term while 32 per cent said they expected it to neither improve or deteriorate.

Hong Kong  - A windsurfer whose sail broke was blown from Chinese waters into a Hong Kong bay after six hours adrift at sea, a news report said Monday.

Businessman Sherman Kwan paddled with his hands through three-metre high waves across some of the world's busiest shipping lanes in a six-hour odyssey, the Hong Kong Standard reported.

A container ship passed within 30 metres of him and a second also nearly hit him before he found his way to safety in a quiet Hong Kong bay on Saturday night, the newspaper said.