Cnn business news 25th may 2019 in hong kong
According to the CNN Business News archives, here are the top stories from May 25th, 2019, in Hong Kong:
Top Stories:
- Hong Kong protests: Thousands march against extradition bill: Thousands of people took to the streets of Hong Kong to protest a proposed extradition bill that would allow the city to send suspects to mainland China for trial. The protests were peaceful, but the government has warned that the bill is necessary to plug a legal loophole.
- Hong Kong's economy grows at slowest pace in a decade: Hong Kong's economy grew at its slowest pace in a decade in the first quarter, with GDP expanding by just 0.6%. The city's economy has been struggling due to a decline in exports and a slowdown in the global economy.
- HSBC profits fall 33% as bank struggles with low interest rates: HSBC, one of the world's largest banks, reported a 33% fall in profits in the first quarter due to low interest rates and a decline in investment banking revenues.
- Hong Kong's Hang Seng index falls 2.5% as protests escalate: The Hong Kong Hang Seng index fell 2.5% on May 24th as protests against the extradition bill escalated, with thousands of people taking to the streets and blocking major roads.
- China's economy grows at slowest pace in 29 years: China's economy grew at its slowest pace in 29 years in the first quarter, with GDP expanding by 6.4%. The slowdown is due to a decline in exports and a decline in domestic demand.
Other News:
- The Hong Kong government has announced plans to increase the minimum wage by 2.5% to HK$37.75 (around $4.80) per hour, effective July 1st.
- The Hong Kong Stock Exchange has announced plans to launch a new index that will track the performance of companies listed on the exchange.
- The city's transportation department has announced plans to increase the number of bus lanes and improve public transportation services to reduce congestion and pollution.
Please note that these stories are based on archived news articles and may not reflect the current situation in Hong Kong.