PRESS DIGEST - Hong Kong - July 14
HONG KONG, July 14 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Monday. Reuters has not verified these stories and does not vouch for their accuracy.
HONG KONG ECONOMIC TIMES
-- Bank of China (3988.HK) unit BOCI has applied for a private banking licence for a target service launch by year's end. It aims to manage assets worth HK$6 billion within two years.
APPLE DAILY
-- Securities circles and industries expect retail sales to only record single-digit percentage growth this year as the second half-year outlook is gloomy with a slowdown predicted.
-- Two suspected traffickers from Canada bringing in more than 13 kilograms of cocaine were arrested at the airport. Acting on a tip, police stopped the pair and found the drug hidden in four protein powder jars.
SING TAO DAILY
-- Mainland-based toilet paper maker Vinda (3331.HK) aims to boost production to 100,000 tonnes within the next 24 months in a plan involving capital expenditure of as much as 300 million yuan.
-- Chief Executive Donald Tsang is expected to add a HK$5 billion financial relief package for the people. Items such as textbook allowances for parents with children in school are being considered.
SOUTH CHINA MORNING POST
-- Telecom operator PCCW (0008.HK) is under pressure from lenders to lift its proposed pricing target of 150 basis points above LIBOR on a US$3 billion syndication loan.
-- Asia Aluminium Holdings, which was delisted from the main board in 2006 due to poor share performance, plans to float again by next year with Hong Kong as its preferred market.
THE STANDARD
-- China property stocks surged last week due to a possible relaxation of mainland tightening measures, but analyts remain doubtful whether the rally is sustainable.
-- Human rights activists have accused the government of conducting a campaign of misinformation in an attempt to run down the controversial anti-discrimination law. One said officials are exaggerating potential difficulties, particularly relating to the clause concerning language discrimination.
SING PAO
-- A charitable organisation is helping municiplalities to fight inflation by ordering household goods directly from participating manufacturers for sale. Consumers could save as much as 40 percent.
WEN WEI PO
-- Bank of Communications (3328.HK) is set to launch the first yuan-denominated bond in Hong Kong this year on Thursday. People's Bank of China is said to be coordinating, with five institutions as issuers to launch 15 billion yuan of bonds in sequence.
TA KUNG PAO
-- The property market has turned sluggish, with new flat sales reporting near-zero transactions over the weekend.
For Chinese newspapers, see...............[PRESS/CN]
For Taiwan newspapers, see............[PRESS/TW]
