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  1. HK discovers plastic's fantastic for paying bills

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

    ... Kelvin Wong Cash is fading and plastic is in for Hong Kong people paying their tax and gas bills, according to Visa International. Credit cards are no longer used just for shopping ... 'Now, more than ever, people are using their credit cards in instances where they previously would have only considered using cash,' said Prudence Chan Bik-wah, Visa's country manager ...

  2. Card issuers take longer-term view

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

    ... Maria Chan Citing stiff competition, 43 per cent of foreign bankers surveyed expect an uphill battle to make money in the mainland's credit card market over the next three years, ... and April. Only 21 per cent thought it would be possible to turn a profit in the country's nascent credit card market in the next three years. In the longer run, however, 85 per cent ...

  3. Octopus goes after other fish in the ocean

    Posted Aug 03rd 2004, 12:00am by Joseph Lo

    ... are non-redeemable and will cost $70 before credits are added. Octopus hopes tourists will buy the cards for their souvenir value. Existing cards can be returned for the $50 deposit. The first line of cards ... on the cards, which cost it $30 each, if customers return them after buying $100 or less in credit, Ms Cheng said. Octopus needs each card to be credited with at least $600 before it breaks even. ...

  4. Yuan strengthens over tighter credit

    Posted Jun 21st 2006, 12:00am by Staff Reporter

    ... Staff Reporters in Shanghai The yuan strengthened slightly against the US dollar yesterday after the central bank signalled its intention to tighten credit and push forward with currency ... in deposit rates or an orchestrated strengthening of the yuan, which could slow export growth and reduce the trade surplus, could be on the cards. But some dealers played down yesterday's ...

  5. Hong Kong's report card makes for optimistic reading

    Posted Dec 24th 2007, 12:00am by Dennis Eng

    ... in the US and the widening credit crisis will dampen Hong Kong's prospects in 2008, so far, the city's economic report card for this year is impressive. Real economic growth for the first ...

  6. Tougher policies to narrow trade surplus on cards

    Posted Jul 21st 2007, 12:00am by Denise Tsang

    ... fastest-growing economy was on track to a record full-year balance, credit analyst Tan Kim Eng said yesterday. Describing the recent policies such as slashing tax rebates for exports and scrapping ...

  7. Octopus looks to arm itself with online option

    Posted Feb 18th 2008, 12:00am by Anita Lam

    ... computers. Cards of different styles and functions have hit the market in recent years as electronic money became a more popular form of payment. A credit card issued last month even copied ... Anita Lam New ways to top up electronic payment card investigated Unable to guarantee the reliability of its EPS machines, the provider of Octopus cards is looking at new ways of adding ...

  8. New credit set for first fall since 2008

    Posted Jun 06th 2012, 12:00am

    ... Lulu Chen lulu.chen@scmp.com New credit in the mainland could fall for the first time since 2008, amid a weakening real economy and banks' tightening liquidity. Ratings agency Fitch adjusted its estimate for total societal financing (TSF), a measure of overall new credit, including that from outside the banking system, to 16.5 trillion yuan to 17 trillion yuan this year, down ...

  9. Credit Agricole tips yuan's rise to slow next year

    Posted Dec 09th 2011, 12:00am

    ... with China, says Credit Agricole. The currency fell to the intervention band of 6.3636 per US dollar for seven straight days as of yesterday, the first time in three years. That reflects international pressure on the yuan to depreciate and economic growth that may slow to 8 per cent or less next year. 'We are getting less and less juice from the lemon,' said Davis Hall, Credit ...

  10. Wen proposes a lifeline of credit for small businesses

    Posted Oct 06th 2011, 12:00am

    ... are facing bankruptcy due to credit tightening. Wen (pictured) made the remarks during a visit to Wenzhou, a hub of private capitalism, in Zhejiang province on Monday and Tuesday, Xinhua reported. Wen's visit follows reports that the free-wheeling city is grappling with a credit crunch that has sent dozens of firms bankrupt and prompted their owners to flee. 'Smaller enterprises ...




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