Press Digest: Hong Kong - June 25

Titan Invo Technology

25/06/2014 03:03

HONG KONG, June 25 (Reuters) - These are some of the leading 
stories in Hong Kong newspapers on Wednesday. Reuters has not 
verified these stories and does not vouch for their accuracy.   
         
    SOUTH CHINA MORNING POST  
    -- The average lifespan of mainland-based virtual currency 
businesses is just nine months, indicating Beijing's success in 
limiting financial activity outside the official banking system. 
A dozen Chinese bitcoin exchanges have gone bankrupt or shut 
down in the past 12 months as they struggled to be profitable or 
just disappeared. (http://bit.ly/1mczmvh) 
    -- A government proposal to import a third of power from the 
mainland grid could prove a step backward for Hong Kong's 
free-market economy, the city's business sector has warned. (http://bit.ly/TtNl9f) 
    -- Lawmakers in Beijing are considering amending the law on 
food safety that promises tougher rules on food production, 
sales and supervision. (http://bit.ly/1q6wW8U) 
     
    THE STANDARD 
    -- In a rare disagreement with a central government 
mouthpiece, Hong Kong Chief Executive Leung Chun-ying said the 
Occupy Central referendum on political reform is not illegal, 
though it has no legal basis. Leung disagreed with an editorial 
in state-run Global Times, which said the 700,000 people who 
voted for one of three reform proposals are no match for the 1.3 
billion in the mainland. (http://bit.ly/1sCQ8gv) 
    -- An economic zone just across the border will include a 
"mini Hong Kong" shopping complex to lure mainlanders who would 
otherwise head to Hong Kong. The Qianhai Management Authority 
says the complex can ease pressure on Hong Kong from the flood 
of visitors under the individual travel scheme. (http://bit.ly/1ph7GNT) 
    -- Cafe de Coral  0341.HK  will continue to sell affordable 
meal sets at around HK$30 ($3.87) each that partly helped the 
local fast-food chain attain record high profits. (http://bit.ly/Th26Mh) 
     
    HONG KONG ECONOMIC JOURNAL  
    -- Jinheng Automotive Safety Technology Holdings Ltd 
 0872.HK  plans to issue up to 102.3 million new shares at a 
15.9 percent discount to the previous close, raising a net 
proceed of HK$36 million ($4.64 million) for general working 
capital. 
         
    HONG KONG ECONOMIC TIMES  
    -- Macau gambling revenue is expected to fall 5 percent 
year-on-year to 27 billion patacas ($3.38 billion) in June, 
heading for its first decline since June 2009, according to 
forecasts by brokerages.   
         
    APPLE DAILY  
    -- Fashion icon Zara has opened a six-storey flagship store 
in Hong Kong's Central Business District, its biggest in Asia. A 
senior corporate communication executive from Zara owner Inditex 
 ITX.MC  said the group will maintain its pace of expansion in 
the greater China region.      
    
    For Chinese newspapers, see............... PRESS/CN    
($1 = 7.7515 Hong Kong Dollars) 
($1 = 7.9780 Macau Patacas) 
 
 (Reporting by Donny Kwok; Editing by Subhranshu Sahu) 
 ((donny.kwok@thomsonreuters.com)(+852 2843 6470)(Reuters 
Messaging: donny.kwok.reuters.com@reuters.net)) 
 
Keywords: PRESS DIGEST HONGKONG/