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  1. Staff jailed for using bank's US$30m in currency scam

    Posted Nov 26th 2004, 12:00am by Staff Reporter

    ... were jailed for five years, while a sixth received a suspended sentence. It is not known how much money the bank lost as a result of the currency speculation. The Haidian District Procuratorate ... it to yuan. The group then used the yuan to buy dollars on the black market and deposited the American currency into Hu's bank account. Hu was a bank client, a close friend of bank staff and also ...

  2. Undervalued Asian currencies look poised for strong growth this year

    Posted Feb 08th 2004, 12:00am by Chris Oliver

    ... Chris Oliver The ongoing theme of Asian asset reflation received a boost this week from new research which suggests Asian currencies are among the most undervalued globally. Brokerage ABN Amro expects hefty gains as Asian currencies pace the recent appreciation of the euro and yen, which have risen 38 per cent and 24 per cent respectively against the US dollar since ...

  3. Deal to buy National Currency falls through

    Posted Jan 16th 2004, 12:00am by Alan Aitken

    ... Alan Aitken The sale of outstanding South African sprinter National Currency to Hong Kong owner and property tycoon Robert Ng Chee Siong will not go ahead. Ng yesterday confirmed the $10 million sale had fallen through, though he would not comment on the details of the failed deal. 'The purchase of National Currency will not be going ahead,' he said. 'It is a great ...

  4. HKMA again buying local currency

    Posted May 01st 2004, 12:00am by Staff Reporter

    ... Kong Monetary Authority bought Hong Kong dollars yesterday after the local currency traded weaker than its peg rate for the first time in seven months. The HK dollar has been on a steady ... hands-on support of the local currency since September 2002. The move came after US data, reinforcing belief in an imminent interest-rate rise, sparked a renewed rally in the US dollar. The HK ...

  5. Firms cleared to retain more foreign currency

    Posted Apr 17th 2004, 12:00am by Staff Reporter

    ... Bei Hu China eases forex rules in bid to allay yuan pressure and inflation concerns China will allow companies to retain a bigger share of their foreign currency revenue from next month to reduce pressure for a revaluation of the yuan and the threat of inflation. Companies would be able to keep up to 50 per cent of their foreign currency revenue if their current account foreign ...

  6. Stable set to cash in on lost Currency

    Posted Feb 25th 2004, 12:00am by Alan Aitken

    ... Alan Aitken It seems that everything about South African sprinter National Currency leads to something positive for the Tony Cruz yard. Having the boom visitor to run over in the Hong Kong Sprint last December ensured his victory was not seen as simply Silent Witness beating the usual local suspects when Cape Of Good Hope and Firebolt were third and fourth. And National Currency ...

  7. Bonds, currency outlook good

    Posted Jan 09th 2004, 12:00am by Staff Reporter

    ... Nichole Chan Investors advised to watch interest-rate risks, shorten fixed-income portfolios Asian bonds and currencies should perform well this year as inflation and interest rates ... and Indonesia. In addition, Ms Chan expected Asian currencies to appreciate this year as their economies strengthened. Most Asian currencies appreciated 2 per cent to 8 per cent against the US dollar ...

  8. National currency shows considerable signs of life with victory in Dubai

    Posted Feb 07th 2004, 12:00am by Alan Aitken

    ... Alan Aitken South African star National Currency franked the form behind Silent Witness in no uncertain terms and probably left prospective owner Robert Ng Chee-siong wondering what might ... the Macau horse, Grand Stand. Property tycoon Ng's intended $10 million purchase of National Currency fell through last month after the horse was examined by the vets. But the runner-up ...

  9. Hard currency

    Posted Dec 07th 2004, 12:00am by Stuart Biggs

    ... or fashion item. It is left to genuine collectors and tourists to give the SAR's new banknotes the attention they deserve. Which is a pity, because when regulators announced the paper currency ... a sense of national-currency pride, Hong Kong designs are far more personal, thanks to an issuing system that puts most of the design process in the hands of designers at HSBC, Bank of China, ...

  10. HKMA pays $1.9b to restrain currency

    Posted Jan 29th 2004, 12:00am by Staff Reporter

    ... pushed the local unit above the $7.765-$7.7695 range in which it has traded for the past 11/2 weeks. The local currency was little changed immediately after the injections and hit an intraday ... pressure on the local currency would remain as the US federal funds rate is kept unchanged at 1 per cent until early next year and the Chinese yuan begins a gradual appreciation in the second half ...




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