Hong Kong – Foreign domestic helper jailed for breaching condition of stay

Foreign domestic helper jailed for breaching condition of stay


     A foreign domestic helper was convicted of breaching her condition of stay by selling sports facilities bookings for monetary reward and was sentenced to two months’ imprisonment suspended for 24 months yesterday (March 13) at Shatin Magistrates’ Courts.

     The Immigration Department (ImmD) received reports from the public earlier that a foreign domestic helper was suspected to have breached her condition of stay by selling sports facilities bookings to others for remuneration. ImmD investigators enquired and retrieved relevant records from the department concerned and successfully targeted the foreign domestic helper. Investigators found that she had made numerous bookings of a basketball court, a tennis court, etc, in her own capacity during the period from July 2021 to September 2021. However, the foreign domestic helper only stayed there briefly and then left the venue after signing into the sport facilities for the actual user.

     The foreign domestic helper was subsequently arrested by ImmD investigators. The arrested foreign domestic helper admitted under caution that she booked sports facilities in her own capacity and sold the bookings for monetary reward, even though she was aware that she could only perform domestic duties for her contractual employer at the contractual address. The foreign domestic helper was subsequently charged with the offence of breach of condition of stay. She pleaded guilty to the charge and was sentenced to two months’ imprisonment suspended for 24 months at Shatin Magistrates’ Courts yesterday.

     “A helper should only perform domestic duties for the employer specified in the contract. The helper should not take up any other employment, including part-time domestic duties, with any other person. The employer should not require or allow the helper to carry out any work for any other person. Any person who contravenes a condition of stay in force in respect of him or her shall be guilty of an offence. Offenders are liable to prosecution and upon conviction face a maximum fine of $50,000 and up to two years’ imprisonment. Aiders and abettors are also liable to prosecution and penalties,” an ImmD spokesman said.

Domestic Coal Production Goes up by 28% as of 16 June, 2022

After a record-breaking coal production of 777 Million Ton (MT) in  2021-22, the domestic coal production continues to witness an increasing trend in the current financial year as well. The total domestic coal production in 2022-23, as on 31st May, 2022 is 137.85 MT, which is 28.6% more as compared to the production of 104.83 MT in the same period of last year. This trend is being maintained in June, 2022 also. The coal production by Coal India Ltd (CIL) is 28% more than the production in the same period of the previous year (as on16th June, 2022). Domestic coal production target for the current financial year is 911 MT which is 17.2% more than the previous year.

The coal imports for blending by the Domestic Coal Based (DCB) power plants have dropped to 8.11MT in the year 2021-22 which has been the lowest coal import in the last eight years. This was possible solely due to the robust coal supply from domestic sources and increased domestic coal production.

The Imported Coal Based (ICB) power plants had imported coal of more than 45 MT per year from 2016-17 to 2019-20. However,  coal import by the ICB power plants dropped to the lowest level of 18.89 MT in 2021-22 and the generation from these plants also dropped to 39.82 BU in the year 2021-22 as compared to the 100+ BU which these plants have been generating since quite some time. This year too their generation remains very low due to high price of imported coal.

In the last five years, the coal-based power generation has grown at a CAGR of 1.82% whereas the domestic coal supply to power sector had grown at a CAGR of 3.26%. Thus, coal supply to power sector has outpaced the growth in coal-based power generation and continues to do so in the present year too.

In the year 2021-22, coal supply from CIL to the DCB power plants has been more than the supply required to be made under Fuel Supply Agreement (FSA). CIL had supplied 540 MT coal, out of which 483 MT coal was supplied against FSA. This coal was sufficient for the power plants to run at 69% PLF whereas the DCB power plants operated at a PLF of only 61.3% in the year 2021-22.  In the year 2022-23, as per FSA, CIL was supposed to supply 120.67 MT coal to its linked power plants (at 85% PLF) whereas CIL had supplied 129.58 MT coal (till 16.06.22). This supply is 7.4% more than the supply required by the plants if they operate at 85% PLF. The plants have operated at about 70% PLF and the CIL coal supply to its FSA linked plants is 30.4% more than their requirement.

With increased production, the rake supply from CIL to power sector has also been at all-time high. The rake loading to power sector increased from 215.8 rakes per day in 2020-21 to 271.9 rakes per day in 2021-22, registering a growth of 26%. In the current year also (till 16th June, 2022), the rake supply from CIL to power sector has increased by 25% as compared to same period of last year. At the same time, coal stocks at pit head power plants are much higher than distant plants.

The DCB power plants have generated a record high power of 3.3 BU per day in the month of June 2022 (till 16th June, 2022). The coal stock at the DCB power plants during this period, however have not depleted, rather the same has increased from 21.85 MT (as on 01.06.22) to 22.64 MT ( as on 16.06.22). This reflects the robust coal production and sufficient supply to keep up with the increasing demand. The coal stock is sufficient for more than 10 days’ requirement.

As on 16th June 22, coal stock at different domestic coal mines is more than 52 MT, which is sufficient for about 24 days requirement of power plants. In addition to it, about 4.5 MT coal stock is available at various Goodshed sidings, Private Washeries and ports and is awaiting to be transported to the power plants.

During the monsoons, despite having high coal stock at mine ends, the coal companies face problems in transporting coal to the sidings due to flooding of mines and the wet coal jamming the Coal Handling Plants conveyor systems. Even by end of second quarter, coal stocks remain high at CIL mines when stocks are low at thermal plant end. There domestic coal production is not an issue. The coal supplies from CIL are more than the FSA requirements. However, CIL has agreed to import coal for the interested power sector consumers (State Gencos and IPPs) and have floated a short-term tender for 2.4 MT imported coal for supply within three months and two long term imported coal supply tenders of 6 MT each for supply over a period of one year.

The ICB power plants and the Gas based power plants have been operating at very low capacities due to constraints in easy availability of required fuel and issues related to PPAs. However,  coal supplies from CIL and other domestic sources is sufficient to ensure that there is adequate coal at the power plants during the monsoon season.



(Release ID: 1835211)
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Hong Kong – Designation of Domestic Systemically Important Authorized Institutions

Designation of Domestic Systemically Important Authorized Institutions


The following is issued on behalf of the Hong Kong Monetary Authority:


     The Hong Kong Monetary Authority (HKMA) has completed its annual assessment of the list of Domestic Systemically Important Authorized Institutions (D-SIBs). As with previous years, the assessment takes into account the size, interconnectedness, substitutability and complexity of authorised institutions. Based on the assessment results, the total number of D-SIBs has decreased from six to five. The Bank of East Asia, Limited is no longer identified as a D-SIB in this assessment considering its systemic importance relative to other institutions. The updated list of D-SIBs, which will take effect on January 1, 2022, is shown in the Annex.


     Under the D-SIB framework, each of the authorised institutions designated as a D-SIB will be required to include a Higher Loss Absorbency (HLA) requirement into the calculation of its regulatory capital buffers within a period of 12 months after the formal notification of its designation. The HLA requirement applicable to a D-SIB (expressed as a ratio of an authorised institution’s Common Equity Tier 1 (CET1) capital to its risk-weighted assets as calculated under the Banking (Capital) Rules) ranges between 1 per cent and 3.5 per cent (depending on the assessed level of the D-SIB’s systemic importance).


     Compared to the list of D-SIBs published on December 30, 2020, there is no change to the HLA requirements applied to the five designated D-SIBs. 


     Further details about the decision can be found on the HKMA website (Systemically Important Authorized Institutions (SIBs)).




(1) D-SIB framework in Hong Kong


     The Banking (Capital) Rules and the HKMA’s regulatory framework for D-SIBs follow the provisions in “A framework for dealing with domestic systemically important banks” issued by the Basel Committee on Banking Supervision in October 2012, by enabling the Monetary Authority (i) to designate an authorised institution as a D-SIB if the Monetary Authority considers the authorised institution to be of systemic importance in the context of the Hong Kong banking and financial system and (ii) to require an authorised institution designated as a D-SIB to be subject to an HLA capital buffer.


     The rationale for imposing an HLA requirement on D-SIBs is to reduce any probability of them becoming non-viable. This is considered both prudent and justified in view of the greater impact that they could have, in the unlikely event of their failure, on the domestic financial system and the local economy more broadly. 


(2) HLA requirement for authorised institutions designated as D-SIBs


     The Monetary Authority is empowered under sections 3U and 3V of the Banking (Capital) Rules to designate D-SIBs and to determine an HLA requirement for each of these D-SIBs by reference to the degree of domestic systemic importance which the Monetary Authority assesses them to bear. To achieve this aim, the HKMA’s regulatory framework for D-SIBs provides for authorised institutions designated as D-SIBs to be allocated to different HLA “buckets”. This differentiated approach reflects the diversified nature and varying degrees of systemic importance of authorised institutions in Hong Kong.


     The designated D-SIBs must apply the HLA in the calculation of their regulatory capital buffers within 12 months of the formal notification of their designation. There are five HLA buckets in total ranging from 1 per cent to 3.5 per cent. While only the first four buckets (i.e. from 1 per cent to 2.5 per cent) have been populated so far, the framework includes an empty 3.5 per cent bucket to encourage D-SIBs to refrain from becoming even more systemically important.


     The HLA applied to a D-SIB serves (together with the Countercyclical Capital Buffer) as an extension of the Basel III Capital Conservation Buffer. Accordingly, if and when a D-SIB’s CET1 capital ratio falls within the extended buffer range, the D-SIB will be subject to restrictions on the discretionary distributions it may make. The effect of this is that D-SIBs will be required to retain earnings in order to bolster their regulatory capital.

Domestic Retail and Wholesale prices of edible oils dropped in India except that of Mustard Oil

While international prices of edible oils are soaring, the domestic market has reported a declining trend in prices with exception, informed Department of Food and Public Distribution (DFPD).

Source – DoCA/SEAI

    Though the international prices of edible oils have gone up in the range of 1.95% to 7.17% after the import duty reduction, the decreasing trend in domestic prices and net effect (ranges for 3.26% to 8.58% declined) after duty reduction is quite substantial. Necessary policy intervention by Central Government with reference to duty reduction is proving to be beneficial for the general consumers.

  International Prices of Soyabean oil, Sunflower Oil, Crude Palm Oil and RBD Palmolein increased by 1.85%, 3.15%, 8.44 and 10.92% respectively over the month. After the import duty reduction (w.e.f. 11.09.2021) on imported edible oils, domestic retail and wholesale prices reduced in the range of 0.22% to 1.93%. However, Mustard Oil is purely domestic oil and its prices are expected to soften with number of other measures the Government is contemplating.

 Similarly, the wholesale and retail price of Wheat decreased by 5.39% and 3.56% respectively over the year. Wholesale price of Rice decreased by 0.07% while retail price of rice increased by 1.26% over the month.

The Wholesale and Retail prices of Wheat decreased by 7.12% and 4.37% respectively over the year.

     Despite the fact that MSP for Rice & Wheat has gone up (from Rs. 1868/Qtl. to Rs. 1940/Qtl. for Rice and from Rs. 1925/Qtl. to Rs. 1975/Qtl for Wheat) the price of rice and wheat has decreased in the market which is a comforting factor for consumers.

Notably, as on 06.10.2021, taking the reference as on 17.5.2021, the retail prices of gram, tur, urad and moong decreased by 1.08%, 2.65%, 2.83% and 4.99% respectively.

Regarding prices of Onion, Potato and Tomato, the All-India average retail prices of potato decreased by 44.77% over the year.

The All India average retail prices of onion decreased by 17.09% over the year.

The All India average retail prices of tomato decreased by 22.83% over the year.



(Release ID: 1762189)
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Share of Domestic Production in Consumption of Finished Steel Increasing

The following details of consumption and share of domestic production and import in the consumption of finished steel during the last three years and current year indicate that the share of domestic production in the consumption of finished steel has been increasing:-

Finished Steel (in million tonnes)





% Share of Import in consumption

% Share of Domestic Production in Consumption



















April-June, 2021*






Source: JPC; *provisional

The details of export and import of finished steel during last three years and current year as given below indicate that India has been a net exporter of finished steel since 2019-20.

Finished Steel (in million tonnes)












April- June, 2021*



Source: JPC; *provisional

The demand for steel in the country is predominantly met by domestic production and the percentage share of import in consumption has been gradually declining for last three years.

This information was given by the Union Minister for Steel Shri Ram Chandra Prasad Singh in a written reply in the Lok Sabha today.



(Release ID: 1738999)
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