Q3 Exchange Fund losses forecast

Monetary Authority Chief Executive Joseph Yam warns the Exchange Fund will not escape mark-to-market losses for the third quarter, adding the investment environment remains very volatile and will likely continue to be.

In his weekly Viewpoint column published yesterday Yam said he hoped Hong Kong people will not be unduly alarmed given the current investment environment and the fund's nature and purposes, stressing the authority will always do its very best to manage it prudently.

Two arrested for smuggling attempt

Two men have been arrested for attempting to smuggle HK$43 million worth of goods to the mainland. Further investigations by the Customs found that a syndicate was smuggling high-valued goods hidden under plastic waste and metal scraps.

At about 11 pm on Oct 27, officers stopped a river trade vessel which was heading for Nanhai in Guangdong and found a large quantity of undeclared cargo in five containers onboard, including 16,300 LCD panels, 2,400 laptop computers and 24 tons of resin.

Flu shot subsidy to launch in November

More than 500 private doctors will provide influenza vaccinations to children aged six months to six years under a five-month subsidy scheme from November 1, Centre for Health Protection Controller Thomas Tsang says.

Under the scheme these children or those aged six or above attending kindergartens or childcare centers, and who are Hong Kong residents, can receive a government subsidy of HK$80 per dose of flu vaccine received from enrolled private doctors.

China Daily

(HK Edition 10/31/2008 page1)