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Congestion in the Cross-Harbour Tunnel. The new toll scheme for Hong Kong's cross-harbour tunnel, also known as the "three-tunnel diversion," is a plan proposed by Hong Kong Chief Executive Carrie Lam in the 2018 Hong Kong Chief Executive's Policy Address to divert traffic from the Cross Harbour Tunnel, Eastern Harbour Crossing and Western Harbour Crossing.
The fare adjustment mechanism is a direct-drive formula that takes changes in the Composite Consumer Price Index (CCPI), the Nominal Wage Index (NWI), and a predetermined productivity factor into account. And, the formula is as follows: Overall Fare Adjustment Rate = 0.5 x Change in CCPI + 0.5 x Change in NWI – Productivity Factor
The Interest Rate Adjustment Mechanism is an automatic system that maintains the stability of the Hong Kong dollar exchange rate. Lately the HKMA has been disclosing the forecast change in the Aggregate Balance attributes to increase the transparency of the Currency Board operation.
The HKMA guarantees to exchange US dollars into Hong Kong dollars, or vice versa, at the rate of 7.80. When the market rate is below 7.80, the banks will convert US dollars for Hong Kong dollars from the HKMA; Hong Kong dollar supply will increase, and the market rate will climb back to 7.80.
The amount of natural gas produced both from associated and non-associated sources can be controlled to some extent by the producers. The drilling rates and gas prices form a feedback loop. When supply is low relative to demand, prices rise; this gives a market signal to the producer to increase the number of rigs drilling for natural gas.
In Q4, total other income net was RMB 2.7 billion, compared to total other loss net of RMB 2.5 billion for the same period last year, mainly due to an increase in net foreign exchange gain arising ...
Black Saturday, 24 September 1983, is the name given to the crisis when the Hong Kong dollar exchange rate versus the United States dollar was at an all-time low. On that day, US$1 exchanged for HK$9.6. [1] For a period, Hong Kong stores began quoting products in US dollar prices, because of the uncertain fluctuation in domestic currency.
The first mode of rail transport for the public in Hong Kong was the Peak Tram, serving The Peak (at Victoria Gap), the Mid-Levels and the city centre since 1888. This was followed by the Mount Parker Cable Car in 1892, but this system was terminated in 1932 and dismantled.