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  • October 31, 2014
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  1. 100pc bank deposit insurance urged

    Posted Oct 14th 2008, 12:00am by Staff Reporter

    ... Ng Kang-chung Calls are mounting for better protection of private savings deposited in local banks to help restore public confidence in the banking system. Lawmaker Cyd Ho Sau-lan, ... In the Asia-Pacific region, Australia, New Zealand and Taiwan are offering blanket deposit protection for bank savers. 'The government should help boost confidence in the banking system,' Ms Ho ...

  2. Bank sued over HK$59m deposit

    Posted Sep 27th 2008, 12:00am by Staff Reporter

    ... Peter Brieger Well-known horse owner Eugene Chuang Yue-chien has sued Bank of East Asia to retrieve a HK$59 million deposit that he paid as collateral for a bank loan, according to a writ filed in the High Court this week. The collateral was no longer required under Mr Chuang's contract with the bank, but it had not promptly released the funds, the writ said. No other ...

  3. News - Hong Kong

    Customers no longer bank on safe boxes

    Posted Feb 13th 2013, 12:00am by Stuart Lau, Patsy Moy

    ... Stuart Lau and Patsy Moy Shortage of locked repositories so severe that some must wait years to get one Customers no longer bank on safety boxes The shortage of safety deposit boxes has become so acute that some banks have stopped taking new customers or put them on a waiting list that can last for years. Safety deposit boxes in prime locations such as Central and Tsim Sha Tsui ...

  4. 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. ...

  5. Business - Banking & Finance - INVESTMENT

    Mainlanders use ‘free money’ from Hong Kong banks to earn higher returns at home

    Posted Feb 26th 2014, 09:34am by KEIRA HUANG; GEORGE CHEN

    ... the big gap in interest rates between Hong Kong, which has a market-based banking system, and the mainland, where the central bank tightly controls loan and deposit rates, it’s no surprise ... off for mainlanders Mainland Chinese working in Hong Kong have found a way to use “free money” from local banks to invest in profitable financial products across the border. They take ...

  6. HKMA targeting bank lenders, not housing prices

    Posted Jun 13th 2011, 12:00am

    ... the past 12 months. As a result, the loan to deposit ratio of the city's banking system has leapt from 69 per cent in late 2009 to more than 80 per cent today. That's raised concerns ... to put up a hefty 50 per cent deposit. That's not all. If a buyer has the misfortune not to earn his living in Hong Kong, he will have to put up an even bigger down-payment. 'Tough ...

  7. Banking in Shenzhen pays much better

    Posted Mar 22nd 2008, 12:00am by Shirley Yam

    ... ride up 500 points and then go down 1,000 points in a day? How about a bank deposit with 10 per cent return? All you need is just a return ticket to Shenzhen and two hours. Yes, I am talking about joining the yuan ride and opening a yuan savings deposit with banks across the border. I did this on Monday and found the hassle factor amazingly low. Before the logistics, let us do ...

  8. Hong Kong will allow non-residents to open yuan bank accounts

    Posted Jul 26th 2012, 12:00am

    ... yuan accounts. From next Wednesday, individuals who do not have a Hong Kong identity card will be allowed to open yuan bank accounts and to exchange other currencies for yuan deposits without ... Enoch Yiu enoch.yiu@scmp.com Hong Kong will allow non-residents to open yuan bank accounts and buy unlimited amounts of the currency from next Wednesday in a bid to attract overseas ...

  9. HKMA: banking outlook remains bright with overseas collaboration

    Posted Sep 16th 2011, 12:00am

    ... May Chan may.wychan@scmp.com The future of Hong Kong's banking industry remains bright if local lenders are willing to collaborate with overseas banks in offshore yuan trading, said ... 'How do we access the market for small- and medium-sized companies? They may go to banks in London. If the banks in Hong Kong work with their counterparts in London in providing the yuan ...

  10. Business - Companies - MONEY LAUNDERING

    Liberty Reserve tied to Hong Kong, China

    Posted Jun 01st 2013, 12:00am by Toh Han Shih

    ... in the United States. A Hong Kong company, Extension Asia, deposited part of Liberty Reserve's "ill-gotten" funds now demanded by the US authorities at the Hong Kong branch of Bank ... assets including US$6 billion of laundered money, US$36.92 million deposited in Westpac Bank in Australia and funds deposited in 42 bank accounts in Costa Rica, Cyprus, Russia, Morocco, Spain, ...




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