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Sun Hung Kai Properties (SHKP) is likely to sell out the latest batch of flats in its massive Sierra Sea development in the New Territories on Wednesday despite a nearly 10 per cent increase in prices, according to analysts.Hong Kong’s largest developer sold 112 of the 150 flats on offer in the 9,700-unit project as of 6.30pm, according to agents, after the sale began at 3pm. The project in Shap Sze Heung, located between Sai Kung and Ma On Shan, is one of the city’s largest residential developments since 1999.The first two batches sold out on April 26 and Saturday…

Malaysia’s anti-graft agency has denied allegations that it was harassing abducted witness Pamela Ling with a lengthy investigation and urged the public to end speculation over her whereabouts after she was taken from a Grab car more than three weeks ago.Ling, a Malaysian national and estranged wife of a businessman implicated in a money-laundering case, was snatched by individuals wearing police uniforms from a ride-hailing vehicle in Kuala Lumpur on April 9. She has not been seen since.Her disappearance – which was only made public after more than 20 days – has prompted outrage and revived scrutiny of the Malaysian…

HSBC plans to roll out a revamped mobile app in Hong Kong this month, with upgrades that aim to deliver what bank executives described as the “most personalised and simplified” experience for its customers.The app is expected to launch in phases from May 20, with the first batch of users totalling around 50,000, the bank said on Wednesday. The latest update was the most significant in five years to keep up with customers’ evolving banking habits and needs, it added.“It’s the personal app for you, very personalised and [designed] to interact in a much simpler, easier and faster way, simplifying…

A luxury duplex flat once owned by Chinese actress Vicki Zhao Wei and her former husband, Huang Youlong, did not find a buyer at an auction on Wednesday even after the current owner priced the property significantly below what the couple paid 13 years ago.The reserve price for the property was set at HK$49 million (US$6.3 million), a 32 per cent discount to the HK$72 million Zhao and Huang paid in 2012, according to filings from the Land Registry.The 3,494 sq ft, four-bedroom unit on the 38th and 39th floors and two car parking spaces at The Westminster Terrace in…

The euro fell in European trade on Wednesday against a basket of major rivals, on track for the first loss in four days against the US dollar on growing concerns about the political situation in Germany after a difficult vote for the new German Chancellor Friedrich Merz.   Later today, the important Federal Reserve’s policy meeting is expected to provide clues on the path ahead for US interest rates.   The Price   The EUR/US price fell 0.35% today to $1.1325, with a session-high at $1.1374.   On Tuesday, the pair rose 0.45%, the third profit in a row as…

The Competition Commission of Pakistan (CCP) on Wednesday approved the complete acquisition of Trax Online (Pvt.) Ltd. by Secure Logistics Group Ltd. under a Share Purchase Agreement (SPA). According to a press statement, both parties had submitted a pre-merger application in line with the Competition Act, 2010. The CCP’s review identified the relevant product market as courier and e-commerce logistics services in Pakistan. CCP said that the deal is a conglomerate merger with no horizontal or vertical overlaps, and concluded that the transaction will not result in dominance or lessen competition in the relevant market. Pakistan’s SLGL secures transport services…

Pakistan on Wednesday reinforced contingency plans to ensure operational resilience and secure communication lines across financial institutions following Indian attacks and the subsequent stock market dip. The Pakistani military brought down five Indian jets in retaliation for late-night strikes launched by its neighbouring country at six sites in Punjab and Azad Jammu and Kashmir. The plans were fine tuned at an emergency meeting presided over by Finance Minister Muhammad Aurangzeb through video link from London currently on a two day visit to promote investment opportunities in the country. The emergency meeting was convened to assess the current financial landscape in…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Brussels intends to propose tariffs on Boeing aircraft as it prepares further retaliation in the event that trade talks with Washington fail.The European Commission, which runs EU trade policy, will include civilian aircraft on a list of about €100bn of annual US imports to be targeted, according to two people familiar with the matter.But the measures would only take effect if the EU does not make sufficient progress in reducing US tariffs, they said. The measures must first be approved by a…

European shares fell on Wednesday on profit booking after a recent rally, while traders assessed corporate earnings and US-China trade talk developments ahead of the Federal Reserve’s rate decision later in the day. The pan-European STOXX 600 index was down 0.3% as of 0857 GMT. Other regional indexes also traded lower. Germany fell 0.1%, France declined 0.4%, Spain was down 0.5%, and the UK dropped 0.3%. European retail stocks led sectoral losses with a 1.7% decline, while healthcare shares fell nearly 1%. Meanwhile, US Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer will meet China’s top economic official…

The property-management unit of defaulted Chinese developer Country Garden Holdings agreed to loan 1 billion yuan (U$138 million) to entities controlled by chairwoman Yang Huiyan, which will then lend to the home builder to fund housing deliveries, according to an exchange filing on Wednesday.Country Garden Services signed an agreement to provide Concrete Win and Fortune Warrior with a five-year revolving loan facility at 5 per cent interest, secured against 543 million shares in the property-management unit, the filing said. The shares represented a 16.3 per cent stake worth HK$3.61 billion (US$465 million) on Wednesday. Yang, once Asia’s richest woman in…