Investors Turn Hong Kong’s Red Taxis Into New Bubble Market

August 10, 2013

Photo: Xinhua Hong Kong may see its first H7N9 human infection within months now that a suspected case has emerged across the border in Guangdong province, the Centre for Health Protection says. A 51-year-old woman is believed to have been infected with the deadly strain of bird flu, according to a preliminary test in Huizhou . Doctors have sent a biological sample to the Chinese Centre for Disease Control and Prevention in Beijing for confirmation. Mainland media reported that the woman was a poultry butcher in Boluo county, Huizhou. According to the Centre for Food Safety, Huizhou has eight farms that supply live poultry to Hong Kong.
More: http://www.scmp.com/news/hong-kong/article/1295613/guangdong-woman-tests-positive-h7n9-avian-flu

Mak and Tsang were convicted in June of concealing that they had an interest in apartments that they leased from each others wives in order to claim the allowances. Mak had been arrested by the Independent Commission Against Corruption less than two weeks after Chief Executive Leung Chun-ying was sworn in on July 1 last year. Two more of Leungs cabinet members have since resigned and lawmakers have called for Maks successor Paul Chan to quit over his interest in farmland designated by the government for redevelopment. Maks lawyer earlier told the court that there was a structural deficiency in the civil servant housing allowance system and presented letters of support from Financial Secretary continue John Tsang and former senior officials as part of a mitigation plea. Franklin Lam, a former UBS analyst, resigned from the Executive Council after the citys anti-graft agency this month dropped its investigation into him. Prosecutors said there was no evidence to support charges of misconduct in public office against Lam. Another cabinet member Barry Cheung resigned in May from all public positions after the police began an investigation into the Hong Kong Mercantile Exchange Ltd.
More: http://www.bloomberg.com/news/2013-08-08/hong-kong-ex-minister-gets-suspended-sentence-for-fraud.html

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Hong Kong finally embracing martial artist Bruce Lee

After selling it, what can I do except put my money into the bank? Taxis generate about HK$18,000 a month after management, maintenance and visit homepage insurance is deducted, Cheung said. Putting HK$7.66 million, the record cost of a taxi in June, in a bank would pay just HK$1,277 per month in interest, at a rate of 0.20 percent for a one-year time deposit at HSBC Holdings Plc, with no chance of capital appreciation . The same amount front page would have purchased a 600-square-foot apartment on Hong Kong Island , according to data compiled by Midland Holdings Ltd . NYC Medallions In New York City, prices for taxi medallions -- which are aluminum disks affixed to the hood of cabs allowing them to operate -- prompted a spurt of investor interest after two of them sold for a record $1 million each in October 2011. The latest New York medallions, not including the cost of the cab, sold for $1.05 million in July. Hong Kongs taxi prices are fanned by a limited supply held constant since 1994, the last time the Transport Department issued licenses. With 15,250 red, or urban, taxis on Hong Kongs streets, the department will only consider issuing new taxi licenses as and when necessary to ensure there is adequate taxi service to meet public demand, according to Michael Kwan, a spokesman.
More: http://www.bloomberg.com/news/2013-08-05/investors-turn-hong-kong-s-red-taxis-into-latest-bubble-market.html

Hong Kong's 'shameful' treatment of refugees exposed

Hong Kong is now coming around to Bruce Lee as one of its own. Lee's daughter and sister recently joined http://journals.fotki.com/houstonzums/my-blog/entry/bfrqwbrtrfdf/ local officials to inaugurate a $3.2 million multimedia exhibit about the short life and stunning career of the first martial arts film actor to achieve global stardom. Fans gather around a statue of Bruce Lee on the Avenue of the Stars in Hong Kong. Hailed as cinema's first martial arts hero and a cinematic bridge between the cultures of East and West, Bruce Lee helped put Hong Kong on the movie world map. (Photo: Anthony Wallace, AFP/Getty Images) The government also put nearly $500,000 more into a documentary on Lee's life and a memorial walking trail of sites from Lee's life in Hong Kong. "It's long overdue," says Bey Logan, a Hong Kong movie producer who contributed items for the exhibit at the Hong Kong Heritage Museum.
More: http://www.usatoday.com/story/news/world/2013/08/08/bruce-lee-home-hong-kong/2623205/

In her first month on the job, a man suddenly broke down into tears. "He pulled up his shirt and showed me stab wounds all over his torso and started explaining what has happened in his country. "When he left and shut the door behind him, I lost it. I spent 30 minutes crying, just saying, 'My God, how can we help someone who has been so deeply, deeply wounded?'" Beatson says that the aid organizations simply cannot help everyone. "All the charities combined only have about three million HKD (US$128,926). We need hundreds of millions," he says.
More: http://www.cnn.com/2013/07/18/world/asia/hong-kong-refugees-exposed

Hong Kong media outlets pressured to submit journalistic materials for corruption investigation

Alternatively, the judge must be satisfied that the material is likely to be relevant evidence in proceedings for the arrestable offence. According to various reports, ICAC asked Commercial Radio for journalistic materials in May but the request failed. Both media outlets said the case would be handled by lawyers and the case is due for a hearing on August 27. The Hong Kong Journalists Association ( HKJA ), an affiliate of the IFJ, and the Hong Kong News Executives' Association, academics and legislative councillors, have voiced their strong opposition to the move. "Not only is it common sense, but there is also a huge body of relevant cases from the European Court of Human Rights that show that protection of journalistic materials is one of the basic conditions for press freedom," the IFJ Asia-Pacific Office said.
More: http://www.ifex.org/china/hong_kong/2013/08/09/media_pressured/

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