MTR To Raise Fares By 3.14 Percent From June
"); jQuery("#212 h3").html("
"); jQuery(document).ready(function() { jwplayer.key='EKOtdBrvhiKxeOU807UIF56TaHWapYjKnFiG7ipl3gw='; var playerInstance = jwplayer("jquery_jwplayer_1"); playerInstance.setup({ file: "http://newsstatic.rthk.hk/audios/mfile_1388173_1_20180327182929.mp3", skin: { url: location.href.split('/', 4).join('/') + '/jwplayer/skin/rthk/five.css', name: 'five' }, hlshtml: true, width: "100%", height: 30, wmode: 'transparent', primary: navigator.userAgent.indexOf("Trident")>-1 ? "flash" : "html5", events: { onPlay: function(event) { dcsMultiTrack('DCS.dcsuri', 'http://news.rthk.hk/rthk/en/component/k2/1388173-20180327.mp3', 'WT.ti', ' Audio at newsfeed', 'WT.cg_n', '#rthknews', 'WT.cg_s', 'Multimedia','WT.es','http://news.rthk.hk/rthk/en/component/k2/1388173-20180327.htm', 'DCS.dcsqry', '' ); } } }); }); });
2018-03-27 HKT 17:07
Share this story
The MTR has said its fares will go up by 3.14 percent this June, as shown by calculations based on government data released on Tuesday.
But the railway operator said it will offer rebates to Octopus Card users of 3 percent in the second half of this year, saying this will make the increase less noticeable for card users.
According to the fare adjustment mechanism – a price setting formula agreed between the company and the government – increases are fixed by a calculation that involves the Consumer Price Index in December and a transport workers' wage index.
The wage index figures were released on Tuesday.
According to the formula, the railway operator can raise fares by 1.65 percent this year. But by including the 1.49-percent increase accumulated from the previous year, the total increase allowed would be up to 3.14 percent.
Last year, the company was prevented from increasing fares as the result of the formula did not exceed the threshold, which was set at 1.5 percent.
Earlier this month, the MTR Corporation said its profit soared 64 percent last year to more than HK$16.8 billion, thanks to a sharp rise in property revaluation and robust sales of a residential development in Shenzhen.
______________________________
Last updated: 2018-03-27 HKT 17:28
Binance Pay And TBCASoft Enable QR Payments Across Merchant Networks In Japan
Binance Pay has partnered with TBCASoft to enable QR code payments through the HIVEX Network, starting with a planned r... Read more
OSL Launches AgentPay For AI Agent Stablecoin Payments
OSL Group has launched AgentPay, a stablecoin payment infrastructure designed to enable AI agents to execute autonomous... Read more
The Biggest AI Governance Gap In APAC Lies In Proof And Traceability
AI has outgrown the role of an assistant, now moving money, approving transactions, and carrying out multi-step tasks w... Read more
HSBC Sells Tokyo HQ As It Prepares For 2029 Relocation
HSBC has sold its Tokyo headquarters building to a unit of Mitsubishi HC Capital, according to Bloomberg. The sale come... Read more
Why Multi-Currency Cards Need More Than Card Issuing
Tap a multi-currency card in Tokyo, and the payment looks no different from any other card transaction. Behind the tap,... Read more
China CITIC Bank Names Wang Junwei As CEO
China CITIC Bank International (CNCBI) has appointed Wang Junwei as its Executive Director and Chief Executive Officer,... Read more