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  1. Yuan's depreciation talk receding

    Posted Jun 26th 2009, 12:00am by Martin Zhou

    ... money from China as they did during the peak of the crisis. 'In addition, the apparent growth in the net buying of foreign currencies by Chinese banks simply reflected that the market ... to the global financial crisis and officials hinting at devaluing the currency to help plunging exports. But the improved figures in the first quarter had dampened expectation on depreciation, currency ...

  2. Mainland GDP growth weakens to 7-year low

    Posted Jan 23rd 2009, 12:00am by Cary Huang

    ... financial crisis is deepening and spreading with continuing negative impact on the domestic economy,' Ma Jiantang, the commissioner of the bureau, told a briefing in Beijing yesterday. Still, ... quarter as the full force of the global financial crisis struck home. The deceleration dragged down annual growth to 9 per cent, totalling 30.07 trillion yuan (HK$34.13 trillion) last year. ...

  3. Market ignores 'strong dollar' call

    Posted Oct 13th 2009, 12:00am by Kevin Rafferty

    ... oil-producing and consuming nations other than the US were trying to take the greenback down a peg and discussing pricing the fuel in a new basket of currencies rather than in dollars. If the report is accurate and the discussions prove successful, then the dollar's remaining days as the global reserve currency could be numbered in years rather than decades. Kenneth Rogoff, the influential ...

  4. Shenzhen traders profit from currency uncertainty

    Posted Mar 31st 2009, 12:00am by Staff Reporter

    ... He Huifeng Shenzhen foreign-exchange dealer Fang Zhen has been worried for months by a surge in people exchanging yuan for Hong Kong dollars based on fears that the mainland currency would plummet in value amid the financial crisis. The fears were so strong that they drove up demand for and the price of the Hong Kong dollar on the black market. People soon realised they could make ...

  5. New HKMA chief must maintain steady course

    Posted Jul 18th 2009, 12:00am by Staff Reporter

    ... as a deputy to outgoing chief executive Joseph Yam Chi-kwong. But the shoes of his formidable predecessor are big ones to fill. Mr Yam's chief legacy will be his commitment to the currency peg ... regulatory reform must be on top of Mr Chan's agenda. The leadership transition takes place at a time when the economy is still reeling from the global financial crisis; and Mr Chan comes ...

  6. SFC executives under fire over pay increase

    Posted Jul 09th 2009, 12:00am by Enoch Yiu

    ... to its executives. It is outrageous,' Mr Sin said. Other regulators have either frozen or cut staff bonus payments amid the financial crisis. Hong Kong Exchanges and Clearing, the front-line ...

  7. Shangri-La bearish after earnings plunge 51.3pc

    Posted Mar 18th 2009, 12:00am by Staff Reporter

    ... the region, finishing the year with a 1 per cent gain. Last year began with 'a very, very promising start [followed by] a slowdown because the financial crisis took its toll on the Asian ...

  8. New reserve currency on BRIC talks agenda

    Posted Jun 10th 2009, 12:00am by Staff Reporter

    ... by the financial crisis, including the need for an alternative international reserve currency as the US dollar continues its bumpy ride. Four meetings totalling about five hours have been scheduled ... and raising the overall voice and influence of the developing countries. 'Especially at this time of financial crisis... it is important to the economic recovery of the world.' The four ...

  9. Drop in foreign currencies helps drive down cost of study tours

    Posted Apr 27th 2009, 12:00am by Paggie Leung

    ... Paggie Leung Prices for most overseas study tours have dropped significantly this summer, thanks to depreciation of foreign currencies and cheaper air tickets, according to travel agents. ... to 10 per cent decline over a year ago,' said Thomas Chau Wing-keung, Jetour Holidays director of operations. 'First, it's because rates of many foreign currencies have gone down ...

  10. High earners bear brunt of financial crisis

    Posted Feb 25th 2009, 12:00am by Ambrose Leung

    ... Daniel Sin and Ambrose Leung The number of high-income earners in Hong Kong has shrunk by more than 15 per cent amid the economic meltdown, official income statistics reveal. The latest General Household Survey, released by the Census and Statistics Depar ...




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