Hong Kong rail chief Walder to step down

HONG KONG — Hong Kong's rail operator MTR Corp. said its CEO, Jay Walder, who formerly led New York's Metropolitan Transportation Authority, will step down after his contract expires in August next year, The Standard reported.

The announcement comes as the railway company faces harsh scrutiny from local lawmakers and the media over delays and cost overruns involving a high-speed express rail project linking the former British colony with mainland China. For the full story, click here.