06.20.09

Hong Kong bankruptcy petitions up 53.5% in May

Posted in .com, Free blog Tips, hot news, top, world of money tagged , , , , at 8:42 pm by carydalton

HONG KONG, June 19 (Xinhua) — Hong Kong recorded 1,417 bankruptcy petitions in May, up 53.5 percent from the same period last year but down 4.9 percent from April, according to figures released Friday by a government department in charge of bankruptcy issues.

The Official Receiver’s Office, which administers court insolvencies for both bankruptcies and the compulsory liquidation of companies, said bankruptcy orders also rose 75.4 percent to 1,491 year on year, but fell 15.2 percent from the previous month.

The month also saw 69 compulsory winding-up petitions, up 7.8 percent year on year, but down 16.9 percent on April.

In the first five months of the year, total bankruptcy petitions and orders surged 69.9 percent and 71.7 percent respectively from the same period last year.

Meanwhile, there were 319 compulsory winding-up petitions and 196 winding-up orders in January-May, up 35.7 percent and 13.3 percent respectively on the same period last year. Special Report: Global Financial Crisis

Hong Kong bankruptcy petitions up 53.5% in May

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European stocks climb at open, London up 0.25 pct

Posted in All, economic, news, shortly, top tagged , , , , at 5:24 am by carydalton

LONDON (AFP) – Europe's leading stock markets rose further at the open on Friday, with London's FTSE 100 index of leading shares up 0.25 percent to 4,291.57 points.

Frankfurt's DAX 30 won 0.15 percent to 4,844.82 points and in Paris the CAC 40 edged up 0.05 percent to reach 3,195.85.

European stock markets had edged higher on Thursday after a key US indicator suggested that recovery in the world's leading economy could be taking hold, dealers said.

US stocks finished mostly higher Thursday as investors also weighed a proposed overhaul of the financial regulatory system.

Japanese shares closed 0.85 percent higher on Friday following the brighter economic data from the United States, traders said.

European stocks climb at open, London up 0.25 pct

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