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  • October 22, 2014
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  1. Asian M&A values fall amid subprime crisis

    Posted Sep 10th 2008, 12:00am by Toh Han Shih

    ... the subprime crisis, rising oil prices and raw material costs, currency fluctuations and the banking industry, which is struggling to do deals and laying people off,' said Lisa Wright, managing ... Toh Han Shih Asian mergers and acquisitions fell steeply in July and last month as the region's vulnerability to the subprime crisis in the United States and Europe hit home. ...

  2. SAFE expands currency exchange services

    Posted Aug 21st 2008, 12:00am by Staff Reporter

    ... Jane Cai in Beijing Non-financial institutions on the mainland have been cleared to offer currency exchange services to individuals on a trial basis in Beijing and Shanghai. Qualified ... (SAFE) said yesterday. The move breaks the mainland monopoly enjoyed by banks and their authorised outlets on currency transactions by individuals. However, corporate entities will still have ...

  3. Mainland's top audit agency to check offices, companies in HK

    Posted Dec 30th 2008, 12:00am by Gary Cheung

    ... by the central government's determination to tighten regulation of its Hong Kong-based agencies and mainland-funded firms amid the global financial crisis. The central government's liaison ... Kong amid the financial crisis and would like to get a better grasp of their funds' management. 'Beijing also wants to know whether there is any improper use of funds, or false ...

  4. Crisis-hit UBS to sponsor HK Open for two more years

    Posted May 12th 2010, 12:00am by Alvin Sallay

    ... it is believed that there will be a significant increase next year. UBS was badly hit by the US subprime mortgage crisis- its assets write-downs totalled more than US$41 billion- and there were ...

  5. Citic Pacific asks CIC to take 50pc stake in unit

    Posted Feb 05th 2009, 12:00am by Martin Zhou

    ... Capital Holdings to help bail it out after racking up massive losses in foreign-currency bets last year. The property-to-steel conglomerate, a unit of investment powerhouse Citic Group, was still ... for comment. A source said Citic Pacific and its parent have been seeking to sell assets to shore up finances after the company lost more than HK$18 billion on unauthorised currency bets ...

  6. Citic scandal puts focus on corporate governance

    Posted Apr 04th 2009, 12:00am by Eric Ng, Kandy Wong

    ... Eric Ng and Kandy Wong Hong Kong-listed conglomerate Citic Pacific's woes on its wrong-way foreign currency bets first came under the public spotlight on October 20, when the world was in the throes of a deepening, unprecedented global financial crisis. The group shocked the market by disclosing a potential HK$15.5 billion loss from unauthorised trades on the Australian dollar, euro ...

  7. Protests in wake of financial crisis will be 'better organised'

    Posted Jan 17th 2009, 12:00am by Ivan Zhai

    ... living crises,' he was quoted as saying, but denied the riots indicated the mainland was facing a social crisis. It was at least the third time in a month that the media or experts have ... incidents'. It warned that the clash between the government and millions of migrant workers and university graduates left jobless because of the financial crisis would test leaders. Highlighting ...

  8. Tsang names crack financial crisis taskforce

    Posted Oct 29th 2008, 12:00am by Ambrose Leung

    ... Announcing the 10-member taskforce, which was a key measure in his recent policy address, the chief executive said the group would make a preliminary assessment of the impact of the crisis ... on Monday, could come up with quick and effective remedies to the problems. 'It has to move fast in time of crisis,' she said. Elite squad The other members Mervyn Davies Chairman ...

  9. Credit crisis hits Sands' Macau resort plan

    Posted Oct 20th 2008, 12:00am by Staff Reporter

    ... Tim LeeMaster, Wong Ka-chun and Neil Gough Project on hold as US$5.25b loan halted US gambling giant Las Vegas Sands has scrapped plans to raise US$5.25 billion in loans for its expansion in Macau- including funding for a hotel resort complex- due to the ...

  10. HK developers brace for crisis fallout

    Posted Sep 22nd 2008, 12:00am by Andrea Li

    ... Andrea Li Players likely to adopt defensive mode in the face of uncertain global economic climate Hong Kong's property developers may feel the effects of the global financial meltdown as the year draws to a close. Although most property players repor ...




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