New AI laws should target data governance, safety to build public confidence: experts

🔮 Finance chief says amount raised already surpassed whole of 2025, while HKIC’s CEO says over 30 portfolio firms set to list in city later this year Funds raised through initial public offerings in Hong Kong more than doubled year on year to over HK$388 billion (US$49.4 billion) in the first nine months of 2026, already surpassing the total amount for the whole of last year, according to Financial Secretary Paul Chan Mo-po. Adding to the positive outlook, Clara Chan Ka-chai, CEO of the government-owned Hong Kong Investment Corporation (HKIC), noted on Sunday that more than 30 of its portfolio firms were preparing to apply for Hong Kong listings this year.

🔮 They also said that legislation was needed to define liability boundaries, which could bolster business and public confidence in expanding its adoption.

🔮 Hong Kong to raise helpers’ monthly minimum wage to HK$5,220 Government says current minimum wage of HK$5,100 to be increased by 2.35 per cent, but food allowance will be unchanged The government announced on Friday that the current minimum wage of HK$5,100 for foreign domestic helpers, or FDHs, would be increased by 2.35 per cent, and the adjusted salary would apply to all such contracts signed on or after Saturday. While most employers provided free food to their helpers, they could choose to pay a food allowance in lieu, with this amount to remain unchanged at no less than HK$1,236 per month, authorities added.

🔮 FlyTaxi is second local taxi app to cease operations after being acquired by US-based ride-hailing giant, following HKTaxi last year Online ride-hailing giant Uber will close a second Hong Kong metered taxi platform that it acquired by the end of this year, just over six months after it bought out the business. Uber said on Friday that it would fully integrate the services on FlyTaxi into its own platform by the end of the year, saying it aimed to provide “optimal” support for drivers and users. “As part of this integration, the stand-alone FlyTaxi app will [be shut down].

🔮 Over 11,000 applicants for new Hong Kong taxi, ride-hailing test Transport chief says response has exceeded government’s expectations and authorities will arrange for applicants to take test within two months More than 11,000 residents have applied to take the joint examination for taxi and ride-hailing car driver permits, exceeding the Hong Kong government’s expectations, the city’s transport minister has said.

🔮 Hong Kong civil servants to get hourly leave but businesses unlikely to follow Civil servants expect to receive an annual entitlement of 10 to 12 hours of family care leave, with the arrangement taking effect in early 2027 Hong Kong civil servants could receive flexible hourly family care leave next year as part of the government’s wider drive to boost birth rates, the South China Morning Post has learned, though business leaders warn the private sector has little incentive to follow suit, citing manpower and financial constraints, especially for smaller firms. Under the “promote fertility” section of Wednesday’s policy address, the government said it would introduce family care leave for its employees to enhance family-friendly measures. A government source said that civil servants could apply for leave by the hour for personal matters, such as accompanying family members to hospital or attending parent-teacher meetings. The Civil Service Bureau was formulating details and would conduct further consultation with government employees, the insider added.

🔮 Owners hope Monchiu’s death will ‘fight for the vindication and rectification of other Bullies in Hong Kong’