Issue: March 22, 2006   (Archive)
Saturday, November 28, 2015   

Hard-hit jewelers must move
Luxury jewelry retailers will relocate stores from core districts to residential areas in order to cut costs.

Developers snub island auction
Two residential buildings in North Point were withdrawn from an auction for redevelopment yesterday, as no developers have offered bids amid lackluster sentiment in the local property market.

Tasty gains on fast food
Fairwood Holdings (0052) posted a 35.4 percent jump in net profit for the six months to September 30 from a year earlier.

More hotel rooms
Far East Consortium International (0035) will expand its hotel business by opening another 3,000 rooms in the next year.

Contrasting IPO views
Two IPO firms, both set up by a son-in-law of New World Development (0017) founder Cheng Yu- tung, generated starkly different levels of investor interest. UMP Healthcare (0722) fell 1.46 percent from its offer price to HK$2.03 on the Phillip Securities platform, reflecting a paper loss of HK$60 for one board of 2,000 shares.

Venture's shares break
Credit Suisse Group said yesterday its investment banking joint venture in China has won approval to provide securities brokerage services.

Yuan bond buzz amid high yield
Retail investors start subscribing for two billion yuan (HK$2.43 billion) worth of sovereign bonds from today as a record high yield of 3.45 percent raises expectations.

Probe into top brokerage
CITIC Securities (6030), China's biggest brokerage, yesterday said it received a notice from regulators stating it is under investigation.

Currency pool seen stabilizing
Hong Kong Monetary Authority chief Norman Chan Tak-lam said the shrinking rate of the yuan capital pool in Hong Kong has slowed.

Shares fallout after CKI's failed play
Shares of Cheung Kong Infrastructure (1038) and Power Assets (0006) fell yesterday after half of the latter's minority shareholders voted down a merger plan with the flagship of tycoon Li Ka-shing.

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