Hong Kong Island News
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ING Groep NV is seeking to sublet as much as two floors it currently leases in Hong Kong’s tallest building as the company reduces space following the sale of its insurance business in the city.
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Seeking to hedge against rising rents and a shortage of space, banks and insurers are on a record spree of buying office buildings in Hong Kong, where occupancy costs are the second-highest in the world.
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Over the past decade, car-repair shop owner Benny Chan has seen more than 70 percent of his small-business peers disappear as his Hong Kong neighborhood fills up with high-end Western bars and Japanese restaurants.
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Hong Kong said a chicken carcass found on the island of Lantau tested positive for the H5 virus.
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Hong Kong officials, who have struggled in vain for three years to slow the growth in home prices, are about to get their wish as the city’s biggest banks raise mortgage rates.
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Sun Hung Kai Properties Ltd., Hong Kong’s biggest developer by value, bought a building site for less than analysts’ estimates, underscoring concerns that rising supply and slowing global growth may crimp home prices.
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The Kwok family trust, which controls Sun Hung Kai Properties Ltd., has agreed to pay about HK$800 million ($103 million) in land premiums to the Hong Kong government to turn a building site in the city’s Island South district into a luxury housing project, Ming Pao reported, citing people it didn’t identify.
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Hong Kong arrested seven people and started a criminal investigation after at least 38 people were killed in the city’s worst maritime disaster in four decades.
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Hong Kong recovered the boat that was partially sunk in a crash that killed at least 38 people, and started an inspection to find the cause of the city’s worst maritime disaster in four decades.
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Hong Kong recovered the boat that was partially sunk in a crash that killed at least 38 people, and started an inspection to find the cause of the city’s worst maritime disaster in four decades.
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