Hong Kong housing chief defends HK$4.4 billion operating costs of temporary housing scheme

Hong Kong Free Press HKFP— Hong Kong’s housing minister has defended an estimated HK$4.39 billion price tag for managing 30,000 temporary flats which are planned for the city, saying this would cover maintenance, cleaning, and other amenities. The units will be part of the Light Public Housing (LPH) scheme, which aims to boost the city’s short-term housing supply by providing […]

Hong Kong Free Press HKFP—Hong Kong gov’t defends ‘mega events’ funding as HK$192 million approved since scheme’s 2023 launch. Hong Kong’s government says it approved spending of over HK$192 million since 2023 on “mega events” designed to attract tourists, and had put rules in place to guard against potential conflicts of interest. In a written response to lawmakers on Wednesday, the Culture, Sports and Tourism Bureau said the committee overseeing the “Mega Arts and […]

Hong Kong Free Press HKFP—Hong Kong to raise minimum wage by 4.5% to HK$41.8 per hour – local media. Hong Kong is set to raise the hourly minimum wage by 4.5 per cent to HK$41.8, local media have reported citing sources. The Minimum Wage Commission will also reportedly review the amount annually going forward, rather than every two years. The adjustment would come after years of calls from labour activists for more frequent assessments […]

Bitcoin News—Operation Racer: Hong Kong Authorities Dismantle Cryptocurrency Laundering Operation – News Bytes Bitcoin News. Hong Kong customs officers arrested three individuals involved in a HK$1.8 billion ($228 million) money laundering operation that utilized a cryptocurrency platform and bank accounts of shell companies, with investigations revealing suspicious activities such as abnormally frequent large transactions in accounts with no clear financial backgrounds. The suspects, who did not know each other, allegedly […]