News Capsule

International companies open offices in Hong Kong 


Marks & Spencer is restructuring its buying functions, a result of which is the opening of a sourcing office in Hong Kong. The UK retailer’s Chief Executive, Mr. Stuart Rose, said, “We chose Hong Kong as it offers high working efficiency, latest market information and extensive links to all major business destinations.”

One of the world’s largest container shipping companies, Zim Integrated Shipping Services, has expanded its presence in Hong Kong. Zim recently completed the ownership of its agency in Hong Kong and its established 
logistic arm, Zim Logistics HKG. 

Hong Kong welcomed the opening of the world’s first New Zealand concept store, New Zealand Focus, in November. The 6,800-square-foot retail and information centre offers New Zealand premium wines, food and natural 
health products, as well as information on travel packages, flights and educational institutions. 


Homecoming for AIG in Hong Kong


Speaking at the opening of AIG Asia Regional Headquarters in Hong Kong in October, the Chief Executive, Mr. Donald Tsang, described the occasion as “doubly significant because it represents a homecoming for the company.”

AIG traces its roots to China. It was founded in Shanghai in 1919. In Hong Kong, AIG started business in 1930, in the very spot where the glittering new AIG Tower was built. 

“Like many of the 3,800-odd international companies with regional operations in Hong Kong, AIG has been able to take full advantage of our position as the pre-eminent international financial services centre in Asia,” said Mr. Tsang. “Our free capitalist economy, level playing field for business, and sound regulatory framework have nurtured entrepreneurship and myriad business activities.”

Mr. Tsang said that AIG's regional headquarters reinforces Hong Kong's position as an international financial centre and premier insurance hub. “We have about 180 insurers operating here - the highest concentration in Asia,” he pointed out. “They include multinational insurers, professional reinsurers and specialist insurers engaging in captive, mortgage, credit, marine and other business.” 

A Symphony of Lights Sets Guinness World Record 

Hong Kong’s "A Symphony of Lights" show has been named the world's "Largest Permanent Light and Sound Show" by Guinness World Records. The show has been accredited based on the existing 20 buildings jointly performing in a fully synchronized light and sound show every night.

The 13-minute nightly spectacle was developed by the Tourism Commission to further enhance the already considerable attraction of Victoria Harbour. 

Presiding over the Guinness World Records presentation cerremony, the Financial Secretary, Mr Henry Tang, said the Guinness World Records award represents an important international recognition for 'A Symphony of Lights'. "I believe the show will further encourage visitors to discover the experience of a lifetime here," he said. 


More Awards for Cathay Pacific 

Cathay Pacific Airways has won three titles at the prestigious annual World Travel Awards.

The Hong Kong-based airline was named Asia's Leading Airline, Asia's Leading Business Class Airline and World's Leading Use of In-flight Technology on Sunday, November 13 in London. 

Winners were based solely on the results of a worldwide poll of travel industry professionals in more than 140 countries. 

Earlier this year Cathay Pacific won the endorsement of global travelers when it was named "Airline of the Year 2005" in the world's biggest passenger poll conducted by UK-based Skytrax Research. Last month, Cathay Pacific was named "Airline of the Year" by travel trade members in the TTG Asia Travel Awards. "Winning not one, but three, World Travel Awards is a rare honour," says Philippe Lacamp, Vice President Canada, Cathay Pacific Airways. 

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