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  • November 23, 2014
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Results 1 - 10 of 13 for currency crisis

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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. Bank of China takes domestic aim after large foreign exchange losses

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

    ... and capital inflows. Mainland lenders usually find it difficult to hedge against currency risk because of the lack of futures for the yuan. The market for swaps and forwards also is underdeveloped. ... at China Construction Bank (International). Bank of China, which has 37 per cent of its assets in overseas markets, was also hit by the US subprime mortgage crisis and made US$1.3 billion ...

  3. 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 ...

  4. 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 ...

  5. Consolidation is one thing you can bank on

    Posted Sep 16th 2004, 12:00am by Louis Beckerling

    ... Louis Beckerling Survival of the fittest could be a motto for Hong Kong's battle-scarred banking sector Seven lean years triggered by the 1997/98 Asian financial crisis straddled ... that seven fat years might follow and help arrest the tide of consolidation sweeping through the industry. But with a credit-less economic recovery under way; and in a post-crisis corporate culture ...

  6. 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 ...

  7. Time to restore the good name of Citic Pacific

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

    ... The financial crisis has ruined many once-stellar reputations around the world. Hong Kong is no different. The resignation of Larry Yung Chi-kin as head of Citic Pacific has ended one ... resignations were triggered by Citic's mammoth loss in high-risk currency bets, its delay in disclosing the bad bets and the subsequent investigations by regulators and the police. These events ...

  8. Shui On Land secures 8b yuan loan on mainland

    Posted Oct 30th 2008, 12:00am by Sandy Li

    ... the arrangement after the collapse of Lehman Brothers Holdings,' he said. 'I only had three weeks left to raise the funds. Although we have sufficient yuan currency on the mainland, we had difficulty converting it into foreign currency [due to the mainland's tightened monetary policy].' Mr Lo denied reports that Shui On had been forced to pay annual interest of 20 percentage ...

  9. Central banks work to build bonds

    Posted May 13th 2005, 12:00am by Louis Beckerling

    ... for local currency bonds and keep more of the region's savings at home moved closer to completion yesterday with several key appointments. The appointments, which followed a closely fought ... 2002 in the wake of the Asian financial crisis, triggered partly by the excessive dependence in the region on short-term finance and bank lending, rather than more stable long-term debt ...

  10. MPF reports strongest annual growth on record

    Posted Jan 07th 2010, 12:00am by Enoch Yiu

    ... Enoch Yiu After being battered by the global economic crisis in 2008, Hong Kong's mandatory pension funds bounced back to show their strongest annual growth on record last year. ... return options such as bonds or currencies. However, people who chose riskier options such as mainland stocks, Asia-Pacific equities or even Hong Kong funds managed to beat the Hang Seng ...




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