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PRESS DIGEST-Hong Kong - Sept 10

by Reuters
Wednesday, 10 September 2014 01:53 GMT

Sept 10 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy.

SOUTH CHINA MORNING POST

* Huawei Technologies Co Ltd, China's largest maker of telecommunications equipment, has investigated 116 employees and sent four of them to court over allegations of graft in its consumer and corporate units, according to reports from mainland media Caixin and China Business News. (http://bit.ly/Yv0LVG)

* The Centre for Food Safety is investigating the role of two Hong Kong firms in supplying the Taiwanese company at the centre of the "gutter oil" scandal. (http://bit.ly/1oq8kmp)

* Automobili Lamborghini is experiencing strong demand for its new supercar across the mainland and expects sales to pick up this year despite the crackdown on lavish spending. President Stephan Winkelmann said the Italian luxury carmaker had already received 300 orders for the entry-level Huracan LP 610-4 from the mainland, Hong Kong and Taiwan. (http://bit.ly/1tISDOh)

THE STANDARD

* The grey market price of the iPhone 6 reached a record high of 28,000 yuan ($4,563) in Beijing, just ahead of the smartphone's global introduction. The first ever iWatch and a mobile payments system were also said to be part of the new offering from Apple Inc CEO Tim Cook. (http://bit.ly/WPGJ6V)

* Illicit cigarettes make up nearly 34 percent of consumption locally, placing Hong Kong third in the list of cigarette-smuggling places in Asia, according to a study. The study "Asia-14: 2013 Illicit Tobacco Indicator" notes that illicit cigarettes worth HK$222 million ($28.6 million) was seized last year by the Customs and Excise Department, up 15.6 percent over 2012. (http://bit.ly/1rVxn7Y)

* Hong Kong's services sector will face the strongest demand for staff in the last three months this year since the fourth quarter of 2011, a survey by ManpowerGroup has found. (http://bit.ly/1uv9NwI)

HONG KONG ECONOMIC JOURNAL

* China train maker CSR Corp Ltd , which had secured $2.96 billion worth of new contract so far in the first half of 2014, has raised its full-year sales target to up to $5 billion from $3 billion, according to Chairman Zheng Changhong

* Lianhua Supermarket Holdings Co Ltd said it plans to buy Yiwu City Life Supermarket Co Ltd, in a deal to be settled by issue of new shares. The company expects leasing of the retail spaces operated by Yiwu will bring in stable monthly income.

For Chinese newspapers, see............... ($1 = 6.1362 Chinese yuan) ($1 = 7.7502 Hong Kong dollar) (Compiled by Donny Kwok in Hong Kong; Editing by Anand Basu)

Our Standards: The Thomson Reuters Trust Principles.

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