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PRESS DIGEST - Hong Kong - Oct 20
October 20, 2015 / 1:30 AM / 2 years ago

PRESS DIGEST - Hong Kong - Oct 20

HONG KONG, Oct 20 (Reuters) - Following are some of the leading stories in Hong Kong newspapers on Tuesday. Reuters has not verified these stories and does not vouch for their accuracy.

SOUTH CHINA MORNING POST

- Political squabbles and high flat prices, coupled with an expected slowdown in China's economy, have made Hong Kong's economic outlook for next year dimmer, according to a survey by accounting body CPA Australia. The survey showed that 53 percent felt pessimistic about the city's economy in the coming year as Hong Kong was losing out to China in competitiveness. (bit.ly/1XglhlC)

- Hong Kong businesses and investors should cash in on low-carbon development in the city's maritime and aviation industries as well as the mainland's cap and trade programme on emissions once binding climate agreements are set in Paris in December, according to Vicky Pollarda, who is a top European Union climate adviser for China. (bit.ly/1PCOZPH)

- The Hong Kong Monetary Authority is examining who should be held responsible for a security flaw that allowed customers' full names on contactless credit cards to be read by unauthorised parties. The authority's deputy chief Arthur Yuen said it had asked seven banks and two companies to look into why some 1.25 million cards contained the cardholder's name. (bit.ly/1M3fC0n)

THE STANDARD

- Members of Lingnan University Council held direct talks with students after chairman Rex Auyeung failed to reach a consensus with the students on the council's structural reform and academic freedom. Auyeung said the council will discuss whether or not to set up a special task force to study the possibility of amending the university ordinance as demanded by the students. (bit.ly/1jQTEky)

- Hong Kong could safeguard its position as an international arbitration center if third-party funding for proceedings were made legal, the Law Reform Commission has suggested. The legislation would allow enterprises with limited finances to have a fair chance of dealing with disputes, according to subcommittee chairman Kim Rooney. (bit.ly/1M1X0Yw)

- Cheung Kong Infrastructure and Power Assets Holdings Ltd described a proposed share swap ratio for their merger as "fair and reasonable," citing an independent report. The advisory firm, hired by CKI and whose name was not disclosed, saw the plan "in the interests of Power Assets and its shareholders as a whole" and "recommends" investors to vote for the proposed merger. (bit.ly/1Rl4WIF)

HONG KONG ECONOMIC TIMES

- Mainland property developer Evergrande Real Estate Group said it would buy a commerical and residential development project in China’s Chongqing from Hong Kong-based Chinese Estates Holdings Ltd, Sino Land and CC Land for an aggregate HK$7 billion ($903.25 million).

For Chinese newspapers, see............... ($1 = 7.7498 Hong Kong dollars) (Reporting by Donny Kwok; Editing by Biju Dwarakanath)

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