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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

Taxi fares to be raised

The Transport Department announced today that the new fares for urban, New Territories and Lantau taxis will take effect from July 17.   The new flagfall charges for urban, New Territories and Lantau taxis for the first two kilometres will be $27, $23.5 and $22.   Afterwards, incremental charges below $93.5, $74.5 and $175 will be $1.9, $1.7 and $1.7.   Incremental charges above $93.5, $74.5 and $175 will be $1.3, $1.3 and $1.5.   Concerning additional charges, the fare for every piece of baggage carried, except light personal hand baggage carried inside the passenger compartment, will remain at $6.   Additionally, the fares for every animal or bird carried and every hiring arranged through telephone booking will still be $5.   From this Sunday, taxi drivers must display the fare conversion tables issued by the department in the vehicle if the taximeters are yet to be adjusted to display the new fares.   While passengers are required to pay the new fares according to the conversion tables, taxi drivers must state the new fares when they issue receipts to passengers.
http://dlvr.it/STshfG

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