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Do Our Legislators Deserve a Pay Rise?; Servicing Islamic Finance; More Electronic Waste (04 Jan 2008)


In December, the government announced that Hong Kong's legislative councillors would get a pay rise, which will come into effect in October. Currently legislators have a salary of $56,750 a month. That will increase 15%, to $65,263. A gratuity of $470,000 will be paid when the legislators' term is completed. Apart from the salary, legislators also receive a number of expenses and allowances. With us in the studio to discuss the implications and effects of the pay rise are Lee Cheuk-yan of the Hong Kong Confederation of Trade Unions, and Francis Hui of the Francis Hui of the Legislative Councillors' Catholic Monitors Group. At the end of this month, Chief Executive Donald Tsang will be visiting the Middle East. Over the next few months both he and the Financial Secretary John Tsang are planning to visit other parts of the Middle East, India, and Asia to convince borrowers and investors that Hong Kong is a good place to issue "sukuk" or Islamic bonds. It's all part of an attempt to develop an increasingly lucrative financial service market in Shariah-compliant debt. With the introduction of high definition broadcast television just a few days ago, a lot of people are replacing their TV sets. There are estimates that around half a million are about to be thrown away. That may be a bit of an overstatement, but there's no doubt that it will mean more rubbish to add to the electronic paraphernalia we already have to dispose of.

The Pulse
Publish Date: 
Friday, January 4, 2008
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