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  • August 30, 2014
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  1. Mainland banks may soon manage pension funds

    Posted Jun 28th 2007, 12:00am by Tom Miller

    ... needed? Administering a custodial role is a different skill from taking deposits and lending,' Mr Esson said. Only the Industrial and Commercial Bank of China, the Bank of Communications, ... Tom Miller in Beijing Beijing is drawing up plans to allow mainland commercial banks to branch out into pension fund management, opening another channel for lenders to diversify, according ...

  2. Clerk admits to thefts

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

    ... and September 2005, Man secretly filled in the amounts of seven signed blank company cheques, and then deposited the money into her personal account. On one occasion, she also altered the amount on a cheque to 10 times the original amount, and transferred it into her own account. The crime was revealed when a bank employee checked transactions with the company. Man admitted she stole a total ...

  3. Investment curbs lifted on enterprise annuities

    Posted Feb 08th 2007, 12:00am by Staff Reporter

    ... Security has required pension funds to invest at least 20 per cent of their assets in time deposits, central bank notes and money market funds, up to 50 per cent in treasury bonds, term deposits ... the first, at least 20 per cent segment into bank deposits because of the restriction, a fund management company source said. At present, more than 90 per cent of the companies creating enterprise ...

  4. More MPF providers weigh cuts in fees

    Posted Sep 08th 2007, 12:00am by Enoch Yiu

    ... the least risk - and the lowest returns - of all MPF products and require the least management. Investors' funds are placed in bank term deposits. The fee reductions by AIA-JF and Bank ... Enoch Yiu HSBC, StanChart to lower pension costs HSBC, Hang Seng Bank and Standard Chartered Bank say they will consider falling into line with rival Mandatory Provident Fund providers ...

  5. Banks lose shine among local business students

    Posted Jun 28th 2012, 12:00am

    ... Anita Lam anita.lam@scmp.com Once the symbol of security, bank jobs seem to be losing their appeal for university students. A survey that ranks the popularity of Hong Kong's major employers found that various banks, with the exception of HSBC, slipped up to 10 places this year. Stockholm-based consultancy Universum, which conducted the survey, blamed the grim economy ...

  6. Township reaps a bitter harvest on investment of farmers' pensions

    Posted Jun 19th 2007, 12:00am by Staff Reporter

    ... paid them 30 per cent interest when the bank deposit interest rate was only 1.2 per cent,' Mr Yu said. 'I speculated on stocks and gave them the interest on time. Sijiqing took ... than the bank. We saw the loans as an investment.' Only recognised financial institutions are allowed to extend loans on the mainland. But, according to Beijing Times, Dadi chairman, Yu ...

  7. HSBC staff plan to take sick leave in job protest

    Posted Jan 20th 2012, 12:00am

    ... Ng Kang-chung and Lulu Chen HSBC employees are planning a 'sick-leave protest' next week after a rumour made the rounds that the bank will sack up to 1,000 people after the Lunar New Year holiday. An online campaign is calling for HSBC staff to phone in sick next Thursday, when the bank reopens for business after a three-day break. The brewing labour dispute comes ...

  8. HKIB talk offers key to banking

    Posted Nov 12th 2011, 12:00am

    ... Chris Davis A free seminar has been organised to provide insights into the qualifications needed and the expectations of employers seeking to hire fresh banking recruits. Co-organised by the Hong Kong Institute of Bankers (HKIB) and Classified Post, the November 18 workshop, entitled 'Getting into banking has never been easier', will be presented in Cantonese and aimed ...

  9. 30.8b yuan in funds misused, audits finds

    Posted Mar 16th 2007, 12:00am by Ting Shi

    ... yuan in pension funds to be illegally invested in road construction and commercial lending. Mainland law states that social security funds must be kept in state-owned commercial banks and managed in designated accounts. The balance can only be used to buy treasury bonds or placed as deposits in banks, where interest earnings are relatively low. But local political bosses have often ...

  10. Turning the tables

    Posted Jun 20th 2009, 12:00am by Staff Reporter

    ... is on the other foot. 'It was getting to the stage where candidates were increasingly difficult and their demands were out of control,' said Mark Enticott, associate director for banking ... money issues and people's careers are now more about survival.' He said that the era of mid- to senior-level banking executives receiving big sign-on bonuses, salary increments of 25 ...




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