Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English

EXIT Poll Results

Detailed Exit Poll Results
News18 » World
1-min read

Hong Kong's Wealthiest Man to Donate More Than $100 Million to Local Businesses

Li Ka-shing's announcement came shortly before the city's chief executive Carrie Lam announced a law banning face masks in public, the latest move from a government that has struggled to control four months of increasingly violent pro-democracy demonstrations.

AFP

Updated:October 4, 2019, 5:00 PM IST
facebookTwitterskypewhatsapp
Hong Kong's Wealthiest Man to Donate More Than $100 Million to Local Businesses
A file photo of Li Ka-shing. (Reuters)

Hong Kong: Hong Kong's wealthiest man will donate more than $100 million to local businesses, his foundation said on Friday, as Asia's once-calm financial hub was roiled by fresh protests.

Li Ka-shing's announcement came shortly before the city's chief executive Carrie Lam announced a law banning face masks in public, the latest move from a government that has struggled to control four months of increasingly violent pro-democracy demonstrations.

The 91-year-old billionaire said small and medium-sized businesses would benefit from the fund, worth HK$1 billion (US$128 million), which will be distributed in partnership with the government. It comes as Hong Kong's economy faces "unprecedented challenges", Li's foundation said in a statement.

This summer's protests, sparked by rising public anger towards Beijing's rule, has battered the economy which was already struggling with the US-China trade war fallout.

Figures released this month showed retail sales declined by a record 23 percent year on year in August, compounding an 11.5 percent slump the month before.

Li was criticised by China's Central Political and Legal Affairs Commission last month "for harbouring criminality" after he published a series of prominent adverts advocating for peace.

Comments from him at the time also appeared to suggest he felt the mainly young protesters had some legitimate grievances.

Li's remarks contrasted starkly with many fellow tycoons who had published full-throated support for the city's embattled pro-Beijing leaders. But he later said his remarks had been misinterpreted, and condemned any actions that would violate the city's rule of law.

The billionaire is among the hugely influential coterie of Hong Kong's twentieth-century oligarchs. He invested heavily in China in the 1990s, initially courting Beijing's Communist leaders but later enduring thorny periods after his moves to offload major mainland property investments irking Chinese critics.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results