Staff are 'being threatened' for not giving refunds

POSH still doesn't get it. Two weeks ago, when she announced she was furloughing 30 staff at her ailing fashion label, there was a public outcry.

Many people who started jobs in March cannot get furlough payments despite the scheme being extended.

Roberto Ferretti and Michel Mehrenberger
Math. Comp. 89 (2019), 1783-1805.
Abstract, references and article information

Côme Huré, Huyên Pham and Xavier Warin
Math. Comp. 89 (2020), 1547-1579.
Abstract, references and article information

Many startups in Britain either do not intend to or cannot access the government's Coronavirus Business Interruption and Loan Scheme, and may be forced to respond with furloughs or layoffs, warns a report

S. V. Bodnarchuk and O. M. Kulyk
Theor. Probability and Math. Statist. 99 (2020), 53-65.
Abstract, references and article information

The Office of the Communications Authority (OFCA) today announced the launch of the Subsidy Scheme for Encouraging Early Deployment of the fifth-generation mobile technology.

Launched under the second round of the Anti-epidemic Fund, the scheme is open for applications until November 30 on a first come, first served basis.

It encourages various sectors to deploy 5G technology early to foster innovation and smart city applications and to improve the efficiency of their operations and the quality of their services that enhance Hong Kong's competitiveness.

The scheme will subsidise 50% of the actual cost directly relevant to the deployment of 5G technology in an approved project, subject to a cap of $500,000.

About 100 qualified projects will be subsidised.

Click here for more details.

For enquiries, call 2961 6333 or send an email to the OFCA.

The Development Bureau today announced that the Land Sharing Pilot Scheme will open for applications tomorrow to help unleash the development potential of qualified private land.

The private land must be with consolidated ownership that is outside specified environmentally sensitive areas and not covered by the Government's development studies.

In connection with the pilot scheme’s launch, the Chief Executive has appointed 10 members from a wide spectrum of sectors to a Panel of Advisors to offer independent opinions on the applications received and advise on the scheme's operation.

Chaired by Dr David Wong, the panel members will serve a term of 3.5 years starting May 1.

Secretary for Development Michael Wong said while government-led planning and land resumption remains the mainstream and continues to dominate its land creation agenda, the pilot scheme seeks to complement such efforts by tapping into market resources and efficiencies to boost both public and private housing in the short to medium term.

Under the scheme, the Government will facilitate infrastructural improvements that will enhance the development intensity of the private lots under application.

In return, the applicants are required to hand over part of the lots they own in the form of formed land that is capable of delivering at least 70% of the increased domestic gross floor area for public housing or Starter Homes developments intended by the Government.

Each project under the scheme should be capable of delivering an increased domestic gross floor area of no less than 50,000 sq m in total and at least 1,000 additional housing units.

The application period lasts for three years until May 5, 2023, subject to a cap of 150 hectares on the total area of private land to be approved.

The development chief added that the Government’s target is to convert the agricultural lots into spade-ready sites ready for housing construction within four to 6.5 years from the time applications are received.

The Government will ensure absolute transparency of the Employment Support Scheme, Chief Secretary Matthew Cheung said today.

Mr Cheung made the statement after attending a radio programme this morning, and reiterated that under the new $80 billion scheme, eligible employers have to undertake that they cannot implement redundancy and that the subsidy will go towards paying staff.

"We have got two very important criteria. One is, no redundancy at all. The second thing is, all the subsidy from the Government for that particular purpose must go to paying staff salaries and not other purposes. A very restrictive approach."

He added that the list of applicants for the scheme would be open for public inspection.

"We will ensure absolute transparency of the scheme. For any successful applicant, their amount of subsidy disbursed and so on will be released to the public, and also particularly to the employees concerned, so they know whether the employers have applied for the scheme and whether they are successful indeed.

"And finally in Hong Kong, we have got a very active media and also a very active trade union movement here."

Mr Cheung also said that imposing a penalty against those who did not comply with the scheme's regulations would be discussed.

"If there is any criminal element involved - conspiracy, dishonesty and so on - we will act in accordance with the law. Any outstanding sum that is not used will be clawed back. We are also considering imposing a penalty for any deviation from the so-called regulation or rules imposed by the scheme. Now, all these need to be thrashed out in the next few days.

"We will be going to the Finance Committee coming Friday. A special Finance Committee meeting will be lined up. Then the whole thing will go firm, because there are still some minor details yet to be thrashed out."

The Mortgage Corporation today announced that the pilot scheme for fixed-rate mortgages will start receiving applications from May 7.

The aggregate loan amount of the Fixed-rate Mortgage Pilot Scheme is $1 billion, subject to a maximum loan amount of each private residential mortgage of $10 million.

Financial Secretary Paul Chan said the pilot scheme, announced in the 2020-21 Budget, provides an alternative financing option to homebuyers for mitigating their risks arising from interest rate volatility, thereby promoting the development of the mortgage market in the long run.

In response to the change in market interest rates, mortgage interest rates under the pilot scheme have been lowered, as compared to the levels previously announced in the Budget. The interest rates per annum for 10, 15 and 20 years are 2.55%, 2.65% and 2.75%.

Mortgages under the pilot scheme will be offered through Bank of China, Chong Hing Bank, Dah Sing Bank, Industrial & Commercial Bank of China, Shanghai Commercial Bank, Standard Chartered Bank and The Bank of East Asia.

At the end of the fixed-rate period, borrowers may either re-fix the mortgage rate under fixed-rate mortgages or convert the mortgage to a loan on a floating rate, which is the prime rate minus 2.35%.

The pilot scheme will be effective until October 31.

Secretary for Constitutional & Mainland Affairs Erick Tsang today visited the temporary operation centre for the special scheme for delivering urgently needed prescription medication to Hong Kong people in Guangdong and Fujian.

Under the compulsory quarantine arrangements, many Hong Kong people who are staying in Guangdong and Fujian provinces are unable to attend follow-up consultations in Hong Kong to replenish their prescription medication and return to the Mainland on the same day.

The Government introduced a special scheme on February 24 to deliver medicine to them, with priority given to those who would run out of prescription medication by end-April.

Mr Tsang was pleased to learn that as of April 29, prescription medication deliveries had been made to more than 7,600 Hong Kong residents in need.

He thanked the Hong Kong Federation of Trade Unions for offering voluntary services for the drug delivery scheme with its well-established service networks on the Mainland.

Mr Tsang also thanked the Pharmaceutical Society of Hong Kong and Hong Kong Pharmaceutical Care Foundation for deploying pharmacists to the temporary operation centre to help verify drug records and patients' information.

During his visit, he gave encouragement to participating volunteers and thanked them for their support for the scheme.

Mr Tsang said as the expiry date for the Compulsory Quarantine of Certain Persons Arriving at Hong Kong Regulation has been extended to June 7, the special scheme will be extended and give priority to cases in which prescription drugs will run out on or before that date.

Call 2343 2255 for enquiries about the scheme.

The Tour Service Coach Drivers (Mainly Serving Tourists) Support Scheme, under the second round of the Anti-epidemic Fund, is open for applications from today to June 5, the Government announced.

The scheme will provide each tour service coach driver with a one-off subsidy of $10,000 and aims to benefit about 9,300 drivers.

In addition, the Government explained that the second round of the Anti-epidemic Fund includes other tourism industry support measures. 

Applications for the Hotel Sector Support Scheme are being accepted until May 18, while the deadline to apply for the Travel Agents & Practitioners Support Scheme is June 15.

Click here for more details.

The Government will launch the Subsidy Scheme for Beauty Parlours, Massage Establishments & Party Rooms under the second round of the Anti-epidemic Fund on May 11.

A sum of $1.1 billion has been earmarked for the scheme, which is expected to benefit 12,400 beauty parlours and massage establishments as well as 500 party rooms.

The subsidy is expected to be disbursed from late this month.

Under the scheme, each eligible beauty parlour or massage establishment will receive a one-off tiered subsidy of $30,000, $60,000 or $100,000, depending on its number of workers.

Each eligible party room will receive a one-off subsidy of $40,000.

Applications will only be accepted online. The application deadline is May 17.

The scheme also covers premises which are operated by social enterprises.

For premises with business registration, social enterprise operators should file their applications through the online application system.

Those without business registration should directly approach the Hong Kong Council of Social Service at 2864 2993 or by email to obtain its certification and submit their applications.

Call 1836 188 or send an email for enquiries.

More than 8,200 applications for the Anti-epidemic Support Scheme for Property Management Sector (ASPM) have been received, with over 3,850 approved, the Government announced today.

The approved applications involve subsidies of more than $140 million and will benefit around 22,000 building blocks and about 35,750 frontline property management workers.

Launched under the Anti-epidemic Fund, the ASPM provides subsidies to owners' organisations or property management companies of eligible buildings to provide hardship allowance to frontline property management workers.

It also provides the Anti-epidemic Cleansing Subsidy to owners' organisations or property management companies.

The scheme’s first phase covers private residential and composite buildings, while its second phase covers industrial and commercial buildings.

The ASPM is still open for applications and continues to disburse subsidies.

Contact the Property Management Services Authority at 3696 1156 or 3696 1166, or visit its website for details.

The Advisory Committee on Recycling Fund today announced the launch of the One-off Recycling Industry Anti-epidemic Scheme.

The scheme aims to help the recycling industry cope with the current economic situation and operational difficulties brought by the COVID-19 epidemic.

Around $100 million has been earmarked for implementing the scheme under Enterprise Support Programme, providing financial support for the operational costs of recyclers for six months.

The maximum funding limit for each recycler is $20,000 per month.

The funding period will cover from January 1 to June 30, making a total maximum subsidy of $120,000.

The scheme opens for application from today until June 30. Recyclers with operations on or before January 1 can apply.

The first instalment related to the subsidy for the first three months will be available from April onwards and the rest of the subsidy will be disbursed in the middle of this year.

The committee also decided to extend the earlier launched One-off Rental Support Scheme for another six months.

The scheme, which has been accepting applications for six months of rental support starting from October 2019, will now be extended to September 2020.

Upon the extension, the maximum funding limit for each recycler will be 50% of the rental or $25,000 per month, whichever is lower.

The maximum rental funding limit will be raised to $300,000.

Application eligibility and requirements remain unchanged while the deadline has been extended to September 30.

Call 2788 5658 or email enquiry@recyclingfund.hk for more information.

The Government today announced that applications are open for several support schemes following the funding approval of the second round of the Anti-epidemic Fund and other relief measures by the Legislative Council Finance Committee.

The Club-house Subsidy Scheme, which provides a one-off subsidy of $100,000 to eligible club-houses, is now open for application. The deadline for application is May 18.

Upon submission of the completed application form and supporting documents, the disbursement of subsidies could generally be made in around two weeks.

The Travel Agents & Practitioners Support Scheme and the Hotel Sector Support Scheme are also open for applications, with the deadlines on June 15 and May 18 respectively.

The Subsidy Scheme for the Refuse Transfer Station Account Holders for Transporting Municipal Solid Waste, which offers a one-off subsidy of $8,000 to each of the eligible private municipal solid waste collectors operating in the first quarter, was also endorsed.

To ease the application procedures, the Environmental Protection Department will post cheques to recipients of this special subsidy in about a week after the funding endorsement.

Meanwhile, the total guarantee commitment of the Special 100% Loan Guarantee under the SME Financing Guarantee Scheme has been increased to $50 billion.

The maximum loan amount per enterprise has been increased to $4 million and the principal moratorium arrangement has been extended to the first 12 months.

The Special 100% Loan Guarantee will start receiving applications from April 20 and the application period has been extended to one year.

Cryptocurrency profits from sextortion spam funneled into wallets tied to other cybercrime and dark web market activity.

A federal judge on May 4 granted 3M, the maker of N95 masks, an injunction against a New Jersey-based company accused of using 3M’s trademarks and deliberately inflating the price of the face masks.