The Secretary for Innovation and Technology, Mr Nicholas W Yang, visited a technology company specialising in radio frequency identification (RFID) technologies and the HealthTech Centre of the Hong Kong Institute of Vocat… read more
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) announced today (October 5) that the official foreign currency reserve assets of Hong Kong amounted to US$426.4 billion as at the end of September 2018 (end-August 2018: US$424.8 billion) (Annex).
Including unsettled foreign exchange contracts, the foreign currency reserve assets of Hong Kong at the end of September 2018 amounted to US$418.8 billion (end-August 2018: US$417.2 billion).
The total foreign currency reserve assets of US$426.4 billion represent about seven times the currency in circulation or 46 per cent of Hong Kong dollar M3.
Release calendar
The release calendar of foreign currency reserve assets for 2019 is announced below:
| Reference Month |
Release Date |
| January 2019 | February 11, 2019 |
| February 2019 | March 7, 2019 |
| March 2019 | April 8, 2019 |
| April 2019 | May 7, 2019 |
| May 2019 | June 6, 2019 |
| June 2019 | July 5, 2019 |
| July 2019 | August 7, 2019 |
| August 2019 | September 6, 2019 |
| September 2019 | October 8, 2019 |
| October 2019 | November 7, 2019 |
| November 2019 | December 6, 2019 |
| December 2019 | January 7, 2020 |
| October 5 | SDDS International Reserves (Hong Kong’s Latest Foreign Currency Reserve Assets Figures) |
| October 12 | SDDS Analytical Accounts of the Central Bank (Analytical Accounts of the Exchange Fund) |
| October 31 | SDDS Template on International Reserves and Foreign Currency Liquidity |
| October 31 | Exchange Fund Abridged Balance Sheet and Currency Board Account |
MS Services Center Limited and its director concerned were prosecuted by the Labour Department (LD) for failing to pay five employees’ wages within seven days after the expiry of the wage periods as required by the Employment Ordinance (EO). Both the company and director pleaded guilty at Eastern Magistrates’ Courts today (October 5) and were respectively fined $110,000 and $95,000, making a total of $205,000.
The company failed to pay five employees’ wages totalling about $254,000 within seven days after the expiry of the wage periods as required by the EO. The director concerned was convicted for his consent, connivance or neglect in the offence.
“The ruling helps disseminate a strong message to all employers and responsible officers of companies that they have to pay employees wages within the time limit in accordance with the EO,” a spokesman for LD said.
“The LD will not tolerate these offences and will spare no effort in enforcing the law and safeguarding employees’ statutory rights,” the spokesman added. read more
The Director of Food and Environmental Hygiene has ordered a restaurant in Yau Tong to suspend business for 14 days as the operator repeatedly breached the Food Business Regulation (FBR) by extending the business area illegally.
The restaurant, located at Shop Nos. G3 and G4, G/F, Ka Kwai Arcade, Yau Tong Centre, 9-11 Ka Wing Street, Yau Tong, was ordered to suspend business from today (October 5) to October 18.
“In April and July this year, two convictions for the above-mentioned breach were recorded against the licensee of the restaurant. A total fine of $6,500 was levied by the court and 30 demerit points were registered against the licensee under the department’s demerit points system. The contraventions resulted in the 14-day licence suspension,” a spokesman for the Food and Environmental Hygiene Department (FEHD) said.
The licensee of the restaurant had a record of two convictions for the same offence in October last year and January this year respectively. A total fine of $3,500 was levied and 30 demerit points were registered. The breaches led to licence suspension for seven days in March this year.
The spokesman reminded licensees of food premises to comply with the FBR, or their licences could be suspended or cancelled.
Licensed food premises are required to exhibit a sign, at a conspicuous place near the main entrance, indicating that the premises have been licensed. A list of licensed food premises is available on the FEHD’s website (www.fehd.gov.hk/english/licensing/index.html). read more
The following is issued on behalf of the Communications Authority:
This press release summarises the decisions of the Communications Authority (CA) following its 79th meeting held in October 2018:
Disruptions of the telecommunications services of China Unicom (Hong Kong) Operations Limited (China Unicom)
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On February 27 and March 31, 2018, there were two incidents of network outage of China Unicom, causing disruptions to its telecommunications services including mobile voice services, short message services and mobile data services. The first incident lasted for five hours and 40 minutes and the second incident lasted for seven hours and 25 minutes, with each incident affecting about 138 150 customers. The Office of the Communications Authority (OFCA) conducted an investigation into the two incidents. Having considered OFCA’s assessment and China Unicom’s representations, the CA concluded that China Unicom had breached General Condition 5.1 of its services-based operator licence (licence no. 922), which required it to operate, maintain and provide a good, efficient and continuous service in a manner satisfactory to the CA. The CA decided to impose a financial penalty of $160,000 on China Unicom. For details, please refer to the CA’s Decision published on the CA’s website: www.coms-auth.hk/filemanager/statement/en/upload/472/Unicom_FinalDecision_e.pdf.
Renewal of other licensable television programme service (other licensable TV) licences
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The CA approved the applications by The Peninsula Hotel Limited, Ricobem Limited and Langham Hotels International Limited for renewal of their respective other licensable TV licences for the provision of television programme services to hotel rooms in Hong Kong for a period of 12 years. Including the three licensees mentioned above, there are 22 other licensable TV licensees providing services to more than 70 hotels in Hong Kong. read more