PRESS DIGEST - Hong Kong - July 10
HONG KONG, July 10 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Thursday. Reuters has not verified these stories and does not vouch for their accuracy.
HONG KONG ECONOMIC TIMES
-- Fast-food chain Fairwood (0052.HK) reported a 19.3 percent increase in net profit to HK$10.1 billion for the year to end-March.
-- Hong Kong-listed China Southern Airlines (1055.HK) said it had received a 116 million yuan special subsidy from mainland authorities to supplement its losses from the previous winter snowstorm.
APPLE DAILY
-- Government figures show there are 2,954 taxpayers in Hong Kong who pay HK$1 million or more in income tax in fiscal 2006/07. They are estimated to have an annual income of at least HK$7 million each.
-- The public tranche in Tianyi Fruit Holdings's IPO share sale was undersubscribed. The company said it received 184 orders that were equal to about 33 percent of the retail offer.
THE STANDARD
-- Mainland industry regulators have reportedly asked fund managers to stop travelling abroad in an effort to support market stability. It is among a series of recent initiatives designed to shore up the market, including setting rules on margin and option financing, restricting listed companies' secondary fund raising, and asking major shareholders in large companies not to sell their shares.
MING PAO DAILY NEWS
-- The Airport Authority aims to issue the first batch of Islamic bonds in Hong Kong by the end of the year to finance the possible construction of a third runway at the international airport.
SOUTH CHINA MORNING POST
-- Brokerage firms and asset management companies expanded their staff in Hong Kong and on the mainland in the first half despite lower stock market turnover.
-- Private equity firms raised less money for investment on the mainland in the second quarter as inflation in the country discouraged global investors, according to a research report.
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