Care Money Set For Early 2019
The Working Family Allowance Office will disburse the first batch of payments under the Caring & Sharing Scheme next April at the earliest.
Financial Secretary Paul Chan told the media today the office needs time to find a location and manpower, and to set up a computer system, to handle applications for the scheme.
He said the office expects to accept applications for three months from February at the earliest, adding it hopes the first batch of payments can be made in April.
Noting the total expense of the scheme is $11 billion with about $300 million in administrative costs, Mr Chan said the amount is reasonable provided the public funds are properly used.
The scheme will benefit three million citizens, he added.
US Stocks Rise On Hopes Of Pause In Rate Increases
Wall Street stocks finished solidly higher on Thursday, reflecting better sentiment on the US economy and a consensus vi... Read more
China's Financial Risks 'controllable': Regulators
The head of the National Financial Regulatory Administration on Thursday told a high-profile forum in Shanghai that the ... Read more
Banks Cut Yuan Deposit Rates, Could Boost Consumption
China's biggest banks on Thursday said they have lowered interest rates on yuan deposits, in actions that could ease pre... Read more
Cheese And Wine Put EU, Australia Deal In Peril
Australia on Thursday threatened to walk away from a blockbuster free trade deal with the European Union unless its prod... Read more
US Stocks End Mixed As Tech Shares Are Sold Off
Gains by industrial companies lifted the Dow on Wednesday, while weakness among technology shares pushed the Nasdaq deci... Read more
Amazon 'plans Prime Video Streaming Service With Ads'
Amazon.com is planning to launch an advertising-supported tier of its Prime Video streaming service, the Wall Street Jou... Read more