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 Agreement reached on repurchase of minibonds
The Securities & Futures Commission, the Monetary Authority and 16 distributing banks have reached an agreement on the repurchase of Lehman Brothers minibonds.
The distributing banks will make an offer to repurchase all outstanding minibonds from eligible investors. During the first stage, they will buy back the minibonds at a price equal to 70% of the nominal value of the original investment from eligible investors at the age of 65 or more, and at 60% from those below 65.
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 Issue of Renminbi bonds by HK banks
Hong Kong’s position as an international financial centre is reinforced with the introduction of the initiative to allow Hong Kong banks on the Mainland to issue Renminbi bonds in Hong Kong.
The Chief Executive, Mr Donald Tsang, delivered a speech at the Renminbi retail bonds launch ceremony of the Bank of East Asia (BEA)(China) Limited on June 29. Following is an excerpt of the speech.
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 HK wins international design top prize
Hong Kong has notched up another design first by snaring a prestigious international advertising award.
McCann Worldgroup’s Hong Kong office beat off more than 1000 entries to win the Grand Prix award at the recent Cannes Lions International Advertising Festival with its "Paper Battlefield" poster series showcasing young basketballers.
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Exhibition on HK's Participation in Expo in Shanghai
The Chief Secretary for Administration, Mr Henry Tang, has unveiled an exhibition in Shanghai on Hong Kong’s participation in the World Exposition 2010 Shanghai China (Shanghai Expo).
Mr Tang received a warm welcome from the Expo's official mascot "Haibao" when he arrived for the opening ceremony at the Bureau of Shanghai World Expo Co-ordination’s exhibition centre in Huaihai Zhong Road.
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