Jobless find hope as they sharpen marketable skills

Article Abstract:

The Christian Action in Hong Kong provides retraining to workers who have lost or have a hard time securing a job in the face of the city's rapidly emerging recession and unemployment also at a 13-year high of 3.9%. The nonprofit organization, which introduced its retraining program in 1993, specializes in social welfare projects. Under the retraining program, various subjects include Security English, import-export and Hong Kong's labor ordinance.

Religious, Grantmaking, Civic, Professional, and Similar Organizations, Nonprofit Institutions, Employee Training, Management, Services, Education, Social policy, Unemployment, Nonprofit organizations, Unemployed workers

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Net profit at Joyce declined 63% in year

Article Abstract:

Joyce Boutique Holdings Ltd. reports that 1996 profits have declined 63% due to a drop in consumer spending and heavy overseas expansion activities. The company's revenue increased 7.8% while profit dropped to HK$30.2 million from HK$81 million in 1995. The company's shares registered a healthy 2.8% increase to close at HK$1.46 per share. The company is a clothing and accessories store chain selling a variety of labels.

Department Stores, Department Store Chains, Finance, Clothing stores, Joyce Boutique Holdings Ltd.

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Hibor rise may hurt banks

Article Abstract:

Hong Kong's tactics in fighting currency speculators by raising Hibor, or Hong Kong interbank offered rate, could jeopardize bank profits. The 1.75% hike in the basic rate that banks price one another for short-term loans is discouraging investors. Investors are already selling and a number of bank experts are turning negative on the sector. There is a growing belief among market observers that rates will remain high.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Loan Interest Regulation, Economic aspects, Economic policy, Interest rates, Government regulations

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