HONG KONG, Nov 12 (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.
-- China’s outgoing President Hu Jintao will formally relinquish his position as military chief at the end of the 18th party congress this week, according to sources. ()
-- Hong Kong and Canada signed a treaty to avoid double taxation and increase trade between the two economies. ()
-- Turkish Airlines will increase its service between Hong Kong and Istanbul as passengers seek cheaper fares to Europe and more exotic destinations. ()
-- Casablanca, a manufacturer of bed collections, would kick off its Hong Kong initial public offering on Nov. 13, within a range of HK$1.5 to HK$2 a share.
-- Hong Kong’s economy is likely to suffer if US lawmakers fail to avert the so-called “fiscal cliff,” Financial Secretary John Tsang warned. ()
-- The property market seems to have regained its confidence two weeks after the introduction of new cooling measures, as weekend transactions at major estates rose slightly to 14 from 10 in the previous week. ()
-- Local jewellery retailer Tse Sui Luen Jewellery (International) said it expected gross profit margin to be higher than 47.4 percent in the second half of this year, due to the coming Christmas and Lunar New Year holidays.
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