PRESS DIGEST - Hong Kong - Nov 13
HONG KONG, Nov 13 (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
- Hongkongers are expected to receive a pay hike of 4.5 percent on average next year and mainlanders are expected to get a raise of 8 percent. Human resources consultancy ECA International's regional director Lee Quane said Hong Kong employers were willing to offer a hike of 4.5 percent in order to retain staff despite cautions about the city's economic outlook amid slowdown on the mainland. (http://bit.ly/1MMKvQR)
- A record number of Hongkongers travelled to Japan in the first nine months of this year to take advantage of a depreciating yen, and tourism officials there don't expect the growth momentum to lose steam any time soon. Japan lured a total of 1.1 million visitors from Hong Kong up to September, up 68.5 percent from the same period last year, according to data from the Japan National Tourism Organisation. (http://bit.ly/1SLcTIi)
- Chinese Premier Li Keqiang said the government should not restrict mainlanders' overseas purchases but provide them with even greater freedom in what they buy. According to statistics from the Ministry of Commerce, mainland tourists made more than 100 million visits to other countries and regions last year, and overseas spending exceeded 1 trillion yuan ($157 billion). (http://bit.ly/1lmohiQ)
THE STANDARD
- Chinese Estates sold another project to mainland developer Evergrande Real Estate Group, breaking the record for the most expensive building sold in Hong Kong in terms of both the lump sum and price per sq ft. Mass Mutual Tower, a 26-storey Grade A office building in Wan Chai, changed hands for HK$12.5 billion ($1.6 billion). (http://bit.ly/1QyYS15)
- Hong Kong property billionaire Joseph Lau spent $76.9 million to buy two mega diamonds. Lau spent $48.4 million at Sotheby's auction in Geneva to buy a 12.03-carat Blue Moon diamond, and another $28.5 million on a 16.08-carat pink diamond at Christie's auction. A spokeswoman for Lau confirmed the two purchases. (http://bit.ly/1SMt5t0)
- Two-thirds of 417 experienced cosmeticians in a survey believe the trade is on a downward spiral. The Cosmetic and Perfumery Association of Hong Kong also found in its August-October poll that almost 40 percent of respondents said their income was hit by a slump in business this year, and half have considered changing jobs. (http://bit.ly/1MavATp)
HONG KONG ECONOMIC JOURNAL
- Accounting firm Deloitte estimates the Hong Kong government to see a HK$40 billion ($5.2 billion) fiscal surplus by the end of March, down from HK$72.8 billion in the previous year, due to a decline in income from land sales and stamp duty.
- Hongkong and Shanghai Hotels Ltd said the occupancy rate of The Peninsula Hotels in Hong Kong was 71 percent in the third quarter, down 3 percentage points from the same period last year, while the average room rate fell 8 percent from a year ago period to HK$4,334 per room a night.
For Chinese newspapers, see............... ($1 = 7.7496 Hong Kong dollars) ($1 = 6.3687 Chinese yuan) (Reporting by Donny Kwok; Editing by Subhranshu Sahu)
