PRESS DIGEST-Hong Kong - July 17
HONG KONG, July 17 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Thursday. Reuters has not verified these stories and does not vouch for their accuracy. SOUTH CHINA MORNING POST -- Britain will honour its 1984 pledge to "mobilise the international community and pursue every legal and other avenue available" if China breaches the agreement vowing "one country, two systems" for Hong Kong, Deputy Prime Minister Nick Clegg was quoted as telling ex-chief secretary Anson Chan Fang On-sang and Democratic Party founding chairman Martin Lee Chu-ming during their visit to the UK. (http://bit.ly/1qIb4gU) -- The weaker yuan is emerging as a major downside risk for mainland airlines already wrestling with a challenging business environment brought on by increased competition and higher taxes, according to analysts. (http://bit.ly/1zKqojm) -- Fitch Ratings and Barclays cut their estimates for full-year gaming revenue growth in Macau to 10 percent due to weakness in the VIP segment of the market. Fitch and Barclays had previously forecast 12 and 13 percent growth in Macau's full-year gaming revenue respectively. (http://bit.ly/1miG0QN) THE STANDARD -- Hong Kong is the fourth most desirable economy in the world for business expansion, a survey by a telecoms firm has found. A British Telecommunications survey found Hong Kong was attractive because of its tax and governance regime, beating Germany, Singapore and India. (http://bit.ly/1kxkjwU) -- Hong Kong Resources Holdings is in talks with actor Nicholas Tse Ting-fung's firm to cooperate on providing post-production services for movies and TV programmes, a move that may allow the star to achieve a backdoor listing for his company. (http://bit.ly/1nL8hEV) -- Hong Kong fashion and accessories company I.T Ltd said its overall performance was under pressure, although gross profit margin for the first quarter ended May rose by 1.6 percentage points from a year earlier as fewer discounts were given. (http://bit.ly/1ncuHjp) HONG KONG ECONOMIC JOURNAL -- Chinese pork producer WH Group Ltd, which plans to raise up to $3 billion in an initial public offering in Hong Kong, is set to kick off its public offering next Thursday with a trading debut expected to be in early August, according to market sources. MING PAO DAILY NEWS -- Some 20 passengers on board a Hong Kong-bound South African Airways Airbus were injured on Wednesday after the aircraft encountered severe turbulence over Malaysia's Kuala Lumpur. The aircraft landed safely in Hong Kong and the injured were sent to hospital. For Chinese newspapers, see............... (Reporting by Donny Kwok; Editing by Prateek Chatterjee)
