Issue: July 30, 2014   (Archive)
Wednesday, July 30, 2014   

Receipts pointed finger at McDonald's, says official
McDonald's Hong Kong was forced to admit it imported cooked beef and chicken from the Shanghai factory at the center of a food scandal only after the Centre for Food Safety uncovered receipts, a senior official said.

HK woman gets 10 years for Auckland drugs haul
A Hong Kong woman has been sentenced to 10 years' imprisonment in New Zealand for importing nearly one kilogram of drugs into the country.

Market rent ordered on lease renewal for Hui
Former Sun Hung Kai Properties chairman Walter Kwok Ping- sheung gave the instructions to renew the tenancy agreement for Rafael Hui Si-yan's Leighton Hill flats just before he became chief secretary, the Court of First Instance heard yesterday.

Chun Wo trims stake sale fear
Chun Wo Development (0711) will explore overseas business through joint ventures and may introduce strategic shareholders, its boss said yesterday, responding for the first time to questions about why its controlling shareholder is considering selling stakes.

Race for Le Riviera
Midland Realty (1200) has set up a special store for the new Shau Kei Wan project, Le Riviera, by Hip Shing Hong.

Package sales for studios scrapped
Mont Vert units with less than 200 sellable square feet will be sold separately instead of in a package, says Cheung Kong Holdings (0001) executive director Justin Chiu Kwok-hung.

Sogo operator posts rise in net profit
Department store operator Lifestyle International (1212) said interim net profit rose 2.9 percent to HK$1.02 billion, excluding a one-off gain a year earlier.

Call to use Exchange Fund for social policies rejected
The Exchange Fund remains the last line of defense for financial stability and should not be used to support social policies or adopt a more aggressive investment strategy, the Hong Kong Monetary Authority chief said.

Five win nod on bad loan
China's banking regulator is allowing governments in five places including Shanghai to set up asset-management companies to buy bad loans from financial institutions, three people with knowledge of the matter said.

Lloyds fined 218m
Lloyds Banking Group will pay 218 million (HK$2.87 billion) in fines to British and US regulators for attempting to rig interbank lending rates, the lender said.

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