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HONG KONG, May 3 Asia Pulse - Highlights of today's newspapers:
SOUTH CHINA MORNING POST:
- Businesses and their employees shelled out a record .29 billion in tax last fiscal year as Hong Kong's buoyant economy helped inflate corporate profits and boost wages.
- The Hospital Authority has to shell out $110 million a year on patients who just won't go home. Now, doctors are calling for harsher measures to encourage hospitals' unwanted, overstaying guests to move on.
THE STANDARD:
- The Hong Kong stock market climbed more than 1 percent Tuesday, fueled by HSBC Holdings, which rallied to a one- year high amid expectations that the rising pound and euro will boost the lender's earnings and China's social security fund will pick the shares as part of its overseas investment.
- Towry Law's Hong Kong arm has agreed to offer more than HK$400 million to investors who suffered losses due to its financial advice to settle the dispute, a record high compensation payout in the city.