Category: Stocks

May 12 2025

Hong Kong, Korea, Mainland, Stocks

Over 100 Ocean Empire staff owed money before sudden closure, union says, with claims totalling over HK$15M

by News Desk

No Comments

Restaurant chain Ocean Empire failed to pay over 100 workers before its sudden closure, with the Labour Department estimating that claims totalled around HK$15 million. Around 110 workers were not...

May 12 2025

Hong Kong, Korea, Mainland, Stocks

Safeguard workers when businesses shut in Hong Kong

by News Desk

No Comments

Irresponsible employers must be held to account when they abuse public funds to settle outstanding payments to employees It is sad but true that the weak economy and a changing...

May 10 2025

Hong Kong, Korea, Mainland, Stocks

‘Irresponsible’: Hong Kong congee chain slammed for asking government to pay workers

by News Desk

No Comments

Lawmaker, labour rights activist also say government’s safety net may not be able to cover the unpaid wages in full, following abrupt closure of 33-year-old chain.

May 08 2025

Hong Kong, Korea, Mainland, Stocks

Abolition of MPF Offsetting Mechanism in Hong Kong

by News Desk

No Comments

From 1 May 2025, in respect of Hong Kong’s MPF scheme, the MPF offsetting mechanism will be abolished, meaning that employers no longer will be …

May 08 2025

Hong Kong, Korea, Mainland, Stocks

Hong Kong media outlet Channel C says bank account frozen, offers refund process for patrons

by News Desk

No Comments

Local media outlet Channel C has announced that it cannot access its bank account and has offered a refund process for its paid members. “As our company’s bank account has...

May 07 2025

Hong Kong, Korea, Mainland, Stocks

Hong Kong insurer AIA’s CIO warns of “paradox of thrift” in retirement saving

by News Desk

No Comments

Hong Kong insurer AIA’s investment chief said retirement savings are important to ensure sustainability of a pension system but warned that a “paradox of thrift” could be a drag on...

May 06 2025

Hong Kong, Korea, Mainland, Stocks

MPF offsetting abolished

by News Desk

No Comments

The abolition of the Mandatory Provident Fund (MPF) offsetting arrangement took effect today. This means employers can no longer use the accrued benefits of their mandatory MPF contributions to offset...

May 03 2025

Hong Kong, Korea, Mainland, Stocks

Hong Kong employers warned against replacing staff with new recruits: reports

by News Desk

No Comments

Employers across Hong Kong have been advised against replacing their existing staff with new recruits following the abolishment of the offsetting mechanism under the Mandatory Provident Fund (MPF) …

May 03 2025

Hong Kong, Korea, Mainland, Stocks

Hong Kong minimum wage rises to HK$42.10 as use of pension funds for severance pay ends

by News Desk

No Comments

Hong Kong has raised its statutory minimum wage to HK$42.10, coinciding with the official end of a controversial arrangement that allowed firms to dip into pension funds for severance payments....

May 02 2025

Hong Kong, Korea, Mainland, Stocks

Fired, rehired? How Hong Kong bosses plan to save money as MPF mechanism ends

by News Desk

No Comments

Employers can no longer dip into staff pensions to cover severance and long-service payments, as firms deploy strategies to mitigate impact.