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  1. City banks asked to make special deposits in new bid to curb lending

    Posted Oct 18th 2007, 12:00am by Staff Reporter

    ... Natalie Chiu The mainland's central bank has told city commercial lenders to set aside special deposits in a move to curb lending growth, according to a state newspaper. The People's Bank of China had asked mid-sized lenders to place funds as three-month and one-year special deposits from October 23, Shanghai Securities News reported yesterday. The amount ...

  2. Bank teller admits stealing HK$700,000 from clients

    Posted Jan 27th 2007, 12:00am by Staff Reporter

    ... Helen Wu A bank teller pleaded guilty yesterday in the District Court to stealing nearly HK$700,000 in cash from 13 clients' accounts. Ng Wing-fai, 34, a former employee of a branch of DBS Bank on Cheung Chau, admitted to taking cash deposits amounting to HK$1,269,515 from 21 accounts for his own use between October 2005 and January this year. He would repay some ...

  3. Investors losing out on yuan deposits

    Posted Jul 30th 2007, 12:00am by Dennis Eng

    ... Dennis Eng Low HK interest rates hit currency savings The inability of banks in Hong Kong to lend out their yuan-denominated deposits is discouraging them from following mainland rate rises and costing customers an estimated 2 million yuan a day in potentially lost interest income. Since February 25, 2004, when banks were cleared to start accepting yuan deposits, Beijing has ...

  4. Banker pilfered account to pay for hair treatment

    Posted Apr 26th 2007, 12:00am by Staff Reporter

    ... Chandra Wong A bank assistant stole from a customer's account to pay for expensive anti-baldness treatment because he was terrified of losing his hair, a court heard yesterday. Alex Chan Choi-kei, who appeared in Eastern Court with a full head of hair, pleaded guilty to stealing more than HK$355,000 from the account at the DBS Bank. Remanding him in custody until May 17 ...

  5. Deposit scheme on track to hit mark by 2011

    Posted Sep 25th 2007, 12:00am by Staff Reporter

    ... Maria Chan HK$374 million already protected The Deposit Protection Scheme Fund, which insures bank deposits up to HK$100,000, had a total of HK$374 million by March and is expected ... inception on September 25 last year. The fund collects money from the banks ranging from 0.05 per cent to 0.14 per cent of yearly deposits. He said the board was currently gathering data from banks ...

  6. Higher deposit rates the solution, not stronger yuan

    Posted Dec 28th 2007, 12:00am by Tom Holland

    ... will not be able to make up for higher wage costs, and higher broad-based inflation will follow. The danger now is that with bank deposit rates lower than the inflation rates, consumers have every ... is not for China to tinker with the yuan's exchange rate but for the central bank to jack up deposit rates aggressively so they provide a real return above the inflation rate. The alternative could ...

  7. Shanghai lenders see increase in deposits

    Posted Jul 11th 2007, 12:00am by Staff Reporter

    ... Ren Wei in Shanghai Depositors put an extra 6.09 billion yuan into Shanghai bank accounts last month- the first big increase since January- amid signs they are cashing out of equities as the stock market loses its allure, the People's Bank of China said yesterday. Between January and May, yuan savings deposits plummeted 17.3 billion yuan as investors drained their accounts ...

  8. Low-end delta factories gain reprieve on deposits

    Posted Sep 06th 2007, 12:00am by Denise Tsang, Enoch Yiu

    ... to pay cash deposits of up to 100 per cent when buying 1,853 types of raw materials such as plastics and metals. Under the revamped rule, they will be allowed to settle the deposit with a letter of credit, bank guarantee, or other unspecified payment instead of cash. The deposits, although refundable, would have meant locking up cash resources- a severe imposition for many small businesses. ...

  9. Arrests over suspected fake Kuwaiti dinar

    Posted Sep 14th 2007, 12:00am by Danny Mok

    ... Danny Mok Police arrested two Australian and three Taiwanese men yesterday for attempting to deposit in a bank 2,100 counterfeit Kuwaiti dinar notes- equivalent to HK$1.16 million. The men, aged 53 to 63, visited the bank in Central and intended to deposit 42,000 dinar, in suspected fake 20-dinar notes, police said. Investigators from the Commercial Crime Bureau described ...

  10. Stronger yuan fuels 6.5pc rise in deposits

    Posted Mar 01st 2007, 12:00am by Staff Reporter

    ... Maria Chan Yuan deposits in Hong Kong rose 6.5 per cent in January, the most substantial jump in value since such accounts were launched in the city two years ago, sparked by the accelerating appreciation of the currency which has surpassed the value of the Hong Kong dollar. Total yuan deposits reached 24.2 billion yuan in January, compared with 22.72 billion yuan in December, ...




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