PRESS DIGEST - Hong Kong - July 15
HONG KONG, July 15 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Tuesday. Reuters has not verified these stories and does not vouch for their accuracy.
HONG KONG ECONOMIC TIMES
-- More than 184,000 Hong Kong households earn less than HK$4,000 a month each, according to government statistics for February to April. The number of low income households increased 0.2 percent compared with the same two-month period last year.
APPLE DAILY
-- Hundreds of people queued outside the six branch offices of Bank of China, where the special Olympic edition of Hong Kong bank notes will be sold. The bills are also being offered through online auctions and bids have reached HK$10,000 for a set.
-- Chief Executive Donald Tsang is said to have prepared for an announcement of a HK$5 billion sweetener package as relief for eligible Hong Kong people in the government's move to help fight inflation.
MING PAO DAILY NEWS
-- Cheung Kong (Holdings) (0001.HK) chairman Li Ka-shing added shares equal to 0.01 percent of the equity capital in the company to his personal holding last Thursday. The HK$28.71 million purchase pushed his holding up to 40.21 percent.
SING TAO DAILY
-- More lenders are raising mortgage loan rates. Bank of Communications (3328.HK) announced a 30 basis-point increase to its offered rate which now is tiered. The rate is offered according to loan size and the highest interest rate charged after the raise will be prime minus 2.6 percent.
SOUTH CHINA MORNING POST
-- China Mobile Communications Corp (0941.HK) is gearing up to expand its fledgling homegrown 3G service to all provincial capitals after next month's Beijing Olympic Games.
-- There was a slight rise in companies setting up or expanding operations in Hong Kong in the first six months of this year, although fewer jobs were created in a sign of corporate belt-tightening, InvestHK director general Mike Rowse said.
THE STANDARD
-- The planned sale of a 45 percent stake in the core media and telecoms business of PCCW (0008) has attracted heavy interest from foreign private-equity firms, potentially triggering a fierce second round of bidding. Bids have been submitted by TPG Capital, Macquarie, Blackstone Group, Providence Equity Partners and KKR, according to a trading note.
-- Cathay Pacific Airways (0293.HK) flight attendants marched from Pacific Place to the central government offices to protest about pay and conditions. The union claims that for six years the company did not pay hourly-paid crew for 33 days of the year -- 21 days of paid annual leave and 12 statutory holidays.
WEN WEI PO
-- Funds under the approved Mandatory Provident Fund schemes lost sharply in June and it was the worst month since January for equity-related funds. Accumulated loss of this category of funds was 13.78 percent for the first half of the year.
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