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  • November 27, 2014
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  1. Please pass the buck and carry a soft stick

    Posted Oct 10th 2003, 12:00am by Jake Van Der Kamp

    ... YEARS AGO, WHILE working in the stockbroking arm of a local bank that had just appointed a new managing director, I happened to be sitting near the stage at the bank's annual dinner, a big banquet with at least 50 tables. One of the features of the night was the Miss --- ---- Bank Contest with three shows, evening wear, swimwear and casual wear (I shall not give you ...

  2. Central bank lifts deposit, loan rates

    Posted Oct 20th 2010, 12:00am by Staff Reporter

    ... Jane Cai in Beijing The mainland's central bank yesterday raised benchmark deposit and lending interest rates for the first time in more than 33 months as it moved to dampen inflation. The People's Bank of China announced one-year deposit rate would increase to 2.5 per cent from 2.25 per cent, and the lending rate to 5.56 per cent from 5.31 per cent, effective from ...

  3. Business - Money - SHARES

    Cyprus bank levy spooks Hong Kong investors

    Posted Mar 19th 2013, 12:00am by Jeanny Yu

    ... Jeanny Yu jeanny.yu@scmp.com Shares fall 2 per cent – the most in a month – as plan to tax deposits triggers panic selling over fears of financial instability in Europe Cyprus banks levy hammers HK stocks Hong Kong stocks had their largest fall in more than a month yesterday, led by HSBC, as plans by Cyprus to levy an unexpected tax on bank deposits triggered fresh worries over ...

  4. News - World - Cyprus

    Cyprus girds for run on banks after sealing bailout

    Posted Mar 25th 2013, 09:33pm by Reuters in Nicosia

    ... had suffered fatal hubris. Backed by euro zone finance ministers, the plan will wind down the largely state-owned Popular Bank and shift deposits under 100,000 euros to the Bank of Cyprus to create a “good bank”, leaving problems behind in, effectively, a “bad bank”. Deposits above 100,000 euros in both banks, which are not guaranteed by the state under EU law, will be frozen ...

  5. Business - Economy

    Cyprus president in desperate bid to prevent run on banks

    Posted Mar 18th 2013, 09:56am by AFP

    ... 10-billion-euro (HK$101.5 billion) bailout for Cyprus, fellow eurozone countries and international creditors Saturday imposed a levy on all deposits in the island’s banks. Deposits of more than 100,000 ... Agence France-Presse in Nicosia President Nicos Anastasiades will on Monday attempt to persuade Cypriot lawmakers to back an EU bailout deal that slaps a levy on bank savings, amid fears ...

  6. Corrections & clarifications

    Posted Mar 09th 2009, 12:00am by Staff Reporter

    ... The front page report 'Public to have say on more deposit protection' published on Saturday said the full deposit protection scheme covers each depositor for up to HK$100,000 per bank. This amount is the limit of the previous deposit protection scheme. The full deposit scheme, introduced in response to the financial crisis, guarantees the full amount of all deposits ...

  7. Central bank increases deposit rates

    Posted Aug 23rd 2005, 12:00am by Staff Reporter

    ... the central bank said in a statement posted on its website. The one-month US and Hong Kong dollar deposit rates will go up 0.25 percentage point to 1.25 and 1.125 per cent respectively, while the three-month deposit rates rise by 0.375 percentage point to 1.75 and 1.625 per cent, respectively. This is the third round of interest rate increases this year and the second since the central bank ...

  8. Bank junks deposit boxes in renovation blunder

    Posted Oct 06th 2004, 12:00am by Peter Michael

    ... Peter Michael DBS faces million-dollar payout after customers' valuables are thrown away and crushed A Hong Kong bank has blamed human error for an embarrassing blunder- expected to cost millions- in which 83 safe deposit boxes and their contents were discarded as scrap metal. DBS Bank (Hong Kong) officials yesterday admitted the boxes had been mistakenly scrapped during ...

  9. Business - Banking & Finance - BANKING

    China's boom in wealth management products makes economists fear

    Posted Dec 13th 2012, 12:00am by BLOOM

    ... are rising as banks, whose WMPs offer higher returns than benchmark deposit rates, try to dissuade households from moving their savings elsewhere. The sales are transforming the stable and cheap deposit base that has supported lenders into one that is "more mobile, expensive and short-term", creating repayment risks for smaller banks, Fitch said. "Some of those projects ...

  10. Business - Comment - MONITOR

    Thank the Cypriot parliament for averting euro-catastrophe

    Posted Mar 21st 2013, 12:00am by Tom Holland

    ... Tom Holland Proposal forcing residents to accept a tax on insured deposits would have triggered a chain reaction of bank runs across southern Europe Thank the Cypriot parliament for averting euro-catastrophe It can have surprised no one that members of the Cypriot parliament voted unanimously against plans to slap a tax on the islanders' bank deposits. Members ...




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