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News in a Nutshell - 13 December

By Julie Magno 13 December 2015
Didn't get time to read the news this week? Here's a roundup of a few of the stories that caught our attention:
  1. Throwing good money after bad

    The SCMP reported that the Mandatory Provident Fund (MPF) is on track for its first full-year loss since 2011. In dollar terms, that is a loss of HK$14.8 billion from our funds this year according to a report by the Gadbury Group, Hong Kong MPF consultants.
  2. Champion of Hong Kong's downtrodden, Elsie Tu, passes away aged 102

    Activist, urban councilor, legislator and a woman ahead of her time, The Honourable Elsie Tu (nee Hume), GBM, CBE, died this week aged 102. Originally from Newcastle-upon-Tyne, UK, Tu arrived in Hong Kong in 1951 and over the decades that followed campaigned against corruption, and for many social issues including gay rights, better housing, welfare services, and playgrounds.
  3. Explosive copyright bill

    Two yet-to-be-caught suspects set off an explosion using what the police believe to be a modified gas canister in a rubbish bin outside the Legislative Council building. The incident took place the same day a debate on the controversial copyright bill was scheduled and is thought to be linked. The meeting, however, was not quorate and is now rescheduled for the coming week.
  4. SCMP heading for checkout in Alibaba's shopping cart

    After a month or so of rumours, mainland internet giant Alibaba announced that it will purchase The South China Morning Post (SCMP) so initiating much discussion over SCMP’s future editorial direction and possible pro-China bias. With a circulation of just 100,000 +/- print as compared to Apple Daily’s 250,000 (approx.) and Oriental Daily’s 500,000 (approx.), the SCMP is a small fish in the pond, but the decision to scrap the online paywall may change that.
  5. Greedy landlord story of the week

    Just one month after winning a Michelin star, tiny Chinese dessert restaurant Kai Kai dessert reportedly learnt that its rent was to be increased from $100,000 to $220,000 per month. Fortunately, the landlord is set to end up with egg tart on his face as the restaurant has found a new location at just $90,0000 per month.

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