China, the world’s biggest energy consumer, is pushing ahead with plans to introduce crude oil futures trading as early as possible, the Xinhua News Agency reported, citing the chairman of the Shanghai Futures Exchange.
Li Ka-shing, Asia’s richest man, said Hong Kong needs to raise its competitiveness if it wants to avoid losing out to Shanghai, where China is setting up a free trade zone, Radio Television Hong Kong reported.
Henderson Land Development Co., the Hong Kong builder controlled by billionaire Lee Shau-kee, agreed to buy HK$2.96 billion ($382 million) of shares from the founder and his family to broaden its income stream as property sales slow.
Tens of thousands of people defied heavy rain in Hong Kong yesterday to march on the 16th anniversary of the city’s handover to China to demand the government address a widening wealth gap and introduce broader democracy.
Hundreds of protesters in Hong Kong marched to the city’s government headquarters, demanding Secretary for Development Paul Chan resign for alleged conflict of interest related to a housing project, Radio Television Hong Kong reported.
The billionaire co-chairmen of Hong Kong’s biggest property developer will face bribery-related charges, public broadcaster Radio Television Hong Kong reported as Thomas and Raymond Kwok returned to the headquarters of the city’s anti-graft agency three months after being arrested.