🌊HK$25 billion deficit in Feb
High Tide's new director is.....
We have some exciting news! Because we’re kinda sorta running on fumes (both physically and economically), Jasmine and I have made the decision to sell High Tide. While Harbour Times will remain under the ownership of Elevation, High Tide will from 1 Apr (today) be owned and run by none other than everyone’s favourite stony-faced politician Junius Ho.
Despite our differences in political opinion, Ho the perfect person to take over High Tide. His media work is immense, with almost daily Facebook videos outlining his views to his followers. We used to have a podcast running once a month and that was too much work!
In addition, his stay at Penny’s Bay gives him first hand experience of the COVID news we cover on a daily basis.
Best of all, just like us, he doesn’t take himself seriously at all.
Our first action will be to tell everyone that being gay is against the NSL for the third time in 12 months. Make sure you pray the gay away! And don’t talk about living-with-the-you-know-what either. That’s also potentially NSL breaching!
Also, please join us over the weekend for an NSL approved patriotic singalong led by his truly.
I sure do hope everyone gets it by now but April Fools!
On Today’s Tide:
HK$25 billion deficit in Feb, $1000bil in reserves (phew)
Asia World Expo fully belongs to the Airport Authority
COVID | Chinese COVID medicine ‘not for prevention’
Politics | 9/10 non-permanent foreign judges recommend staying in the court of final appeal
For premium High Tide readers
Appointments | Eden Woon to take over AmCham
Crime | Weed and cocaine abusing go up again, especially in Under 21
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“We’ve got lots of money”
The government has released the latest financial statistics for Feb 2022, as well as the 11 month year-to-date.
Hong Kong saw a deficit in the past month of HK$25.3 billion, however the 11-month period ending 1 Mar actually saw a surplus of HK$72.3 billion. The government puts heavy emphasis on the sale of Green Bonds for the earnings, amounting to net proceeds of HK$29.1 billion.
The government still holds HK$1,000 billion in reserves.
In an act that should “consolidate and strengthen Hong Kong's position as an international trade centre as envisaged under the National 14th Five-Year Plan”, the government has transferred all their stake in the Asia World Expo to the Airport Authority (AA).
The AA now owns everything on the Chep Lap Kok airport complex including SkyCity, and of course, the airport itself. The AA will be paying for an expansion of the AWE which will see it gain 100,000sqm of convention space, and a 20,000/pax stadium for major events.
COVID in HK
Coronavirus in Hong Kong
New cases: 6,639
Total cases: 1,157,415
New deaths: 119 (17 backlog)
Total deaths: 7,825
Chinese Medicine not a replacement for vaccination
CE Carrie Lam has endorsed the use of Chinese Medicine in COVID treatment saying that it is an “immunity enhancement remedy” that can “cure” heavy symptoms, but is not a preventative. Instead, she equates the Lianhua Qingwen, part of everyone’s COVID-19 care package due this coming week, to being “just like Panadol or paracetamol, it’s not for prevention”.
In other news, mail services to Australia, Canada and India is restored as of today.
9/10 judges don’t recommend leaving
The spotlight has been on the remaining 10 non-permanent foreign judges in HK after Lords Patrick Hodge and Robert Reed resigned on Wednesday, citing deterioration of freedoms under the NSL, and a fear of looking like they’d be ‘legitimizing’ the authorities if they stayed.
Carrie Lam made short stuff of them saying that she is ‘disturbed’ by the political pressure being put on the judges - a debate about British judges sitting on Hong Kong courts was happening at Westminster at the same time.
The remaining 10 judges from foreign common law jurisdictions include six Brits, three Aussies and one Canadian. So far, all except British judge Robert Walker have openly said they will stay on the Court of Final Appeal.
In a statement to AFP, the remaining five British judges said they will stay to protect Hong Kong’s judicial independence at the current critical crossroads:
"At a critical time in the history of Hong Kong, it is more than ever important to support the work of its appellate courts in their task of maintaining the rule of law and reviewing the acts of the executive,"
Events and deals
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Use the code HIGHONWINE10 at www.lacabane.hk to stock up your wine cellar today.
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