PRESS DIGEST - Hong Kong - June 16
HONG KONG, June 16 (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
-- The engineering sector estimates some 3,000 professionals will be needed in the coming year as the Hong Kong government pushes forward multiple infrastructure projects. The market lacks experienced engineers and more training is said to be required.
APPLE DAILY
-- Hangzhou Xiaoshan International Airport, 35 percent owned by the Airport Authority Hong Kong, is to appoint a listing adviser in the next two months for its listing plan to raise 3 billion yuan in its expansion plan.
-- Country Garden (2007.HK) chairman Yeung Kwok-keung, who is believed to be seeking a stake in broadcast company TVB (0511.HK), is said to have been offered HK$3.5 billion ($449 million) in financing from seller Sir Run Run Shaw to complete the deal.
SOUTH CHINA MORNING POST
-- HKEx (0388.HK) should consider relaxing its listing requirements to allow mining companies in exploration stages without proven production prospects to list, according to some explorers eager to raise funds through the local bourse.
-- China Construction Bank (0939.HK) plans to consolidate two associated securities arms to compete with key rivals in the brokerage business, a source said.
-- The Tibetan leg of the Olympic torch relay has been postponed. The flame will not pass through Tibet and Qinghai as planned, the official China News Service reported.
THE STANDARD
-- The Commercial Crime Bureau arrested a 51-year-old man at the weekend in connection with suspected false accounting at EganaGoldpfeil that has already ensnared eight others.
-- Hong Kong plans to develop a crude oil futures market aimed at setting a reference benchmark that would give Asian consumers and importers the same bargaining power as Western counterparts, said Financial Secretary John Tsang.
HONG KONG ECONOMIC JOURNAL
-- Analysts say Hong Kong stocks will head lower this week as hot funds continue to flow out of local and mainland markets.
SING PAO
-- Half of Hong Kong's middle-class are worried that salary and asset increases will lag the rate of inflation, a survey has found. They believe the cost of foodstuff and transportation has the biggest impact and will continue to rise.
WEN WEI PO
-- The central government has issued various warnings to relevant departments to maintain financial order in a rare move to prevent a possible financial crisis. Ten years after the Asian financial turmoil, similar problems are looming over neighbouring countries.
TA KUNG PAO
-- Only eight transactions were recorded in new flat sales over the weekend amid the possibility of an interest rate uptrend.
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