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Foreign currency reserves up

Hong Kong's foreign currency reserve assets rose to US$423.2 billion in November from October's US$417.2 billion, the Monetary Authority announced today.   The reserve assets represent over five times the currency in circulation or about 42% of Hong Kong dollar M3.   There were no unsettled foreign exchange contracts at the end of November. http://dlvr.it/Sf21yd

Govt responds to claw machine ruling

The Department of Justice will consider appropriate follow-up action for court rulings on cases concerning the operation of two claw machine venues that do not require a places of public entertainment licence (PPEL).                In a statement, the Government today said that places installed with mechanical devices known as "claw machines" involving amusements with prizes which draw crowds and the operators concerned have the right to control public admission.   Generally speaking, these places come under the Places of Public Entertainment Ordinance licensing requirement and therefore the relevant operators have all along been applying for a PPEL from the Food & Environmental Hygiene Department (FEHD).   The statement noted that the relevant policy and licensing requirement have been effective and will continue to apply to all places of public entertainment. The FEHD will continue its enforcement actions against unlicensed places of public entertainment to ensure public safety and order at these places.   For the organisation of any public entertainment events/activities including those specified under the Places of Public Entertainment Ordinance at any places (except those specified under the Places of Public Entertainment (Exemption) Order), and provided that the relevant operator has the right to control public access to the premises, the organiser must apply for a PPEL in accordance with the ordinance regardless of whether the general public is admitted with payment.
http://dlvr.it/Rrzn22

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