PRESS DIGEST - Hong Kong - May 21
HONG KONG, May 21 (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.
APPLE DAILY
-- Pansy Ho, daughter of casino tycoon Stanley Ho, declined to comment on US gaming authorities' recommendations that she was "unsuitable" as MGM's (MGM.N) Macau joint-venture partner.
-- Rail company MTR Corp (0066.HK) said its new Western extension line project would create nearly 7,000 new jobs. The extended route will take five years to complete.
SOUTH CHINA MORNING POST
-- Mainland China's big-3 mobile operators, China Mobile (0941.HK), China Telecom Corp (0728.HK) and China Unicom (0762.HK), all recorded declines in new subscriber numbers in April.
-- Construction of the long-planned Central-Wan Chai bypass worth HK$28 billion ($3.61 billion) will start by the end of the year, the government announced on Wednesday. The new project comes with more land reclamation in Victoria Harbour.
-- Pacific Century Regional Developments (PCEN.SI) on Wednesday filed a submission to appeal against a decision blocking the PCCW (0008.HK) buyout deal last month.
THE STANDARD
-- In a rare admission of error, former US Federal Reserve chairman Alan Greenspan said he was wrong to criticise Hong Kong Monetary Authority chief executive Joseph Yam's 1998 intervention in the stock market. HONG KONG ECONOMIC JOURNAL
-- HSBC cut deposit rates to near zero in a sudden move on Wednesday. The bank said funds flowing into Asia had boosted cash levels in the banking system.
WEN WEI PO
-- A survey has revealed that 11 percent of Hong Kong manufacturers operating in the Pearl River Delta region will either shut down their plants or change businesses in the face of the economic downturn. Some 80 percent of expect an average 35 percent decrease in overseas orders this year.
TA KUNG PAO
-- Listed TV station TVB Ltd (0511.HK) announced on Wednesday a new round of job cuts affecting 110 employees, but said some would be redeployed.
(Editing by Jonathan Hopfner)
For Chinese newspapers, see...............[PRESS/CN]
For Taiwan newspapers, see............[PRESS/TW] ($1=7.751 Hong Kong Dollar)
