Le Journal

A Hong Kong judge has said his decision to order the winding-up of bakery chain Taipan’s parent company is due to there being “no reliable evidence” that the business can settle its outstanding rent of more than HK$2 million (US$256,500). In a written judgment released on Tuesday, Deputy Judge Gary Lam Chin-ching of the High Court said Vast Luck Company Limited had twice failed to pay its debts, resulting in a breach of what the business earlier stated in court. The winding-up order was handed...

The Hong Kong Monetary Authority (HKMA) issued requirements on Wednesday for banks to improve their services for elderly customers, as the proportion of the city’s population over the age of 65 increases rapidly. Banks will be required to upgrade their apps to meet the needs of elderly customers, improve branch facilities and ensure that staff members provide appropriate advice on investments, insurance and pension products. “As Hong Kong faces an ageing population, we expect more elderly...

Sun Hung Kai Properties (SHKP), Hong Kong’s largest developer by market capitalisation, sold out another batch of flats at its Sierra Sea project in the New Territories, the city’s largest residential project in two and a half decades. All 218 units launched on Wednesday found buyers, according to property agents. The developer previously sold out two rounds in the project this year: 213 flats on January 10 and 229 flats on Saturday. Following the enthusiastic response, SHKP will hold a preview...

China could learn from Ukraine about using drones to launch modified small and micro aerial bombs, a leading Chinese weapons expert said. Cai Yi, chief scientist of China North Industries Group Corporation (Norinco), said in an interview earlier this month that aerial bomb strikes by Ukrainian drones provided “a valuable example for observing drone warfare”. China could draw inspiration from Ukraine’s experience in developing small drone-borne bombs, Cai added in the interview, which appeared in...

China’s under-23 football team are on the verge of winning their first ever AFC U-23 Asian Cup after defying expectations at the tournament in Saudi Arabia. Following the young team’s 3-0 victory over Vietnam in the semi-finals, they will face Japan in Saturday’s final, after the Japanese team beat South Korea 1-0 in the other semi-final. The Chinese football team have taken part in all seven editions of the tournament since its inception in 2013, but had never made it out of the group...