Hong Kong budget deficit ‘unavoidable’ for two years, finance chief Paul Chan says | Hong Kong will be in the red for two budgets in a row, the financial secretary said within days of predicting the city’s first fiscal shortfall for 15

Hong Kong budget deficit ‘unavoidable’ for two years, finance chief Paul Chan says

Hong Kong budget deficit ‘unavoidable’ for two years, finance chief Paul Chan says

Hong Kong budget deficit ‘unavoidable’ for two years, finance chief Paul Chan says

Hong Kong budget deficit ‘unavoidable’ for two years, finance chief Paul Chan says

Hong Kong budget deficit ‘unavoidable’ for two years, finance chief Paul Chan says

Hong Kong budget deficit ‘unavoidable’ for two years, finance chief Paul Chan says
Hong Kong budget deficit ‘unavoidable’ for two years, finance chief Paul Chan says
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Hong Kong will be in the red for two budgets in a row, the financial secretary said within days of predicting the city’s first fiscal shortfall for 15 years.Paul Chan Mo-po said on Saturday it was too early to say whether the deficits would persist in the longer term as he revealed the anti-government protests – estimated to have cost the city 2 percentage points in gross domestic product – were hitting the economy far harder than external factors.Expressing concern over the impact of the Hong…
British navy vessel passes through Taiwan Strait

British navy vessel passes through Taiwan Strait

A British navy survey vessel sailed through the Taiwan Strait, it was announced on Saturday, as the United Kingdom steps up its presence in the Indo-Pacific region.Taiwan’s defence ministry said in a brief statement that HMS Enterprise had travelled northwards through the Taiwan Strait and the military had kept a close watch on the situation.The ministry added that the “national army used joint intelligence surveillance and investigation [to monitor its passage] … there was no abnormality…
Experts didn't know HK situation well: IPCC chairman

Experts didn't know HK situation well: IPCC chairman

The chairman of the police watchdog, Independent Police Complaints Council (IPCC), Anthony Neoh, said an international panel of experts hired to study police conduct during the extradition bill saga didn’t have a thorough understanding about the complicated situation in Hong Kong. IPCC had included five experts in its panel last September after the government rejected calls for an independent probe and said the overseas professionals will assist IPCC “fact-finding study”. The panel of five experts said in November that the IPCC needs more powers if it is to conduct a rigorous inquiry into the policing of the protests in Hong Kong. In an interview with Shenzhen TV, Neoh said he already told the experts that IPCC must work in accordance with the laws. “They don’t understand well our current situation. What they suggested exceeded IPCC’s statutory functions. I already told them: thank you for your opinions. But we must work in accordance with the laws,” he said. The five-member expert panel was headed by Sir Denis O’Connor who served as a top official in the British police until 2012. Other members are Colin Doherty, who headed the police watchdog in New Zealand; Michael Adams QC from Australia; Prof Clifford Stott, a social psychology academic from Keele University in the UK; as well as Gerry McNeilly, a former head of a civilian watchdog that monitors police in Canada. Shenzhen TV reported that IPCC had almost finished a study into the conflicts between police and the public from June 9 to July 2. It says a report would be submitted to the Chief Executive, Carrie Lam, by the end of this month.

US President Donald Trump urges World Bank to stop lending money to China

US President Donald Trump urges World Bank to stop lending money to China

US President Donald Trump lashed out at the World Bank on Friday for lending money to China.“Why is the World Bank loaning money to China? Can this be possible? China has plenty of money, and if they don’t, they create it. STOP!” Trump wrote on Twitter.The president was reiterating a position long held by his administration, including David Malpass, a former US treasury department official who took over as head of the World Bank earlier this year.Trump’s message was echoed by US Treasury…
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