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  • October 31, 2014
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  1. Business - Banking & Finance - CURRENCIES

    Sydney expected to get yuan clearing bank soon

    Posted Oct 25th 2014, 03:41am by Jeanny Yu

    ... trading partners Australia and Singapore. Sydney was on track to become the next offshore city to obtain a yuan clearing bank- as early as December- Elmer Funke Kupper, the chief executive of Australian's securities exchange, told the South China Morning Post. The central banks of the two countries were engaged in talks on ways to boost yuan liquidity in Australia, Funke Kupper said, adding ...

  2. Business - Economy - CURRENCIES

    Beijing's political ties crucial to liberalising the yuan

    Posted Oct 13th 2014, 04:13am by Jeanny Yu

    ... as representing a small vote in favour of yuan internationalisation. The club with swap-line agreements now comprises 23 central banks, including the European Central Bank, the Bank of England ... this activism, such as the political support gained from countries that back its currency initiatives. The central banks that have given high-profile endorsement of China's monetary ambitions ...

  3. Business - Money - CURRENCIES

    Pound rallies, underscoring Britain's economic recovery

    Posted Oct 10th 2014, 06:10am by Bloomberg

    ... this year and next, compared with 3.9 per cent for the G10, based on economist forecasts. The growth outlook may help persuade Bank of England policy makers that it is time to begin raising interest ... by the European Central Bank to cut rates and expand the region's money supply. Sterling is up 5.4 per cent versus the euro this year, to 78.76 pence per euro, heading for its best annual performance ...

  4. Business - Banking & Finance - CURRENCIES

    Mainland Chinese banks eye Luxembourg as euro zone hub

    Posted Oct 06th 2014, 04:10am by Toh Han Shih

    ... Toh Han Shih hanshih.toh@scmp.com Yuan loan portfolios in the grand duchy up 35pc from year earlier to 72.8b yuan in first half Mainland banks eye Luxembourgas euro hub Luxembourg ... in the second half of last year and more than double the 29.3 billion yuan in the second half of 2012, according to official Luxembourg data. Yuan deposits held by banks in Luxembourg rose to 67.2 ...

  5. Business - Economy - CURRENCIES

    Worst to come for Canadian 'loonie' as oil prices fall

    Posted Oct 27th 2014, 05:19am by Bloomberg

    ... 4 per cent to C$1.18, according to Toronto-Dominion Bank and Royal Bank of Canada. "The risk is, a sustained push lower in oil prices cuts Canadian growth," said Shaun Osborne, the chief currency strategist at Toronto-Dominion, Canada's largest bank. "Any sort of setback for growth and investment in the energy sector is likely to have a fairly significant ...

  6. Business - Banking & Finance - CURRENCIES

    China’s overseas investment schemes set to boost yuan

    Posted Oct 27th 2014, 02:59pm by Reuters

    ... pilot schemes that will allow domestic investors to make overseas investments using the yuan, a move that could pump fresh oxygen into the stagnant offshore yuan pool. "The central bank ... department at the People's Bank of China. Yuan deposits in Hong Kong, the biggest offshore yuan hub, stood at 937 billion yuan (HK$1.2 trillion) at the end of August, the lowest level since ...

  7. Business - Economy - CURRENCIES

    Pound traders braced for more political turbulence

    Posted Oct 21st 2014, 04:56am by Bloomberg

    ... other Group of 10 currency. "Currencies don't like political uncertainty," said Neil Jones, the head of hedge fund sales at Mizuho Bank. "The election will be very tight ...

  8. Business - Banking & Finance - CURRENCIES

    China and Britain to sign yuan-pound swap deal

    Posted Feb 23rd 2013, 12:00am by Bloomberg

    ... Bloomberg in London China and Britain to sign yuan-pound swap deal The Bank of England and the People's Bank of China plan to sign a deal soon on a three-year currency-swap arrangement as London pushes to become an offshore centre for yuan trading. BOE governor Mervyn King and his PBOC counterpart, Zhou Xiaochuan, met in Beijing yesterday. Both central banks ...

  9. Business - Companies - CURRENCIES

    Soaring greenback poses earnings threat to US companies

    Posted Oct 07th 2014, 12:14pm by Reuters

    ... U.S. profits They were the bank assets nobody would touch during Europe's financial crisis. Late payments on credit cards, underwater mortgages and failed loans to small businesses. Now ... they see it as the best place for buying distressed portfolios," said Vishal Soni, who bought real estate loans at Deutsche Bank in London before helping start consulting firm Oxane Partners. ...

  10. Business - Money - CURRENCIES

    Yuan proves to be a bulwark against strong US dollar in Asia

    Posted Oct 09th 2014, 05:55am by Jeanny Yu

    ... of the resilience it has shown since the 2008 global financial crisis. The yuan strengthened again yesterday after the central bank boosted the currency's reference rate after a week-long holiday ... conditions, marked by the moves of the European Central Bank and the Bank of Japan, vis-à-vis the credit constraints and higher rates in China, would encourage more capital inflow to support the yuan. ...




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