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  • November 26, 2014
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  1. Asian economies- and currencies- firing on all cylinders

    Posted Apr 26th 2006, 12:00am by Tom Holland

    ... have prompted airlines to slap weighty fuel surcharges on top of their standard ticket prices. Currencies around the region are rising in value against the US dollar- and also against the Hong Kong dollar. Take the South Korean won. Yesterday, the won touched 936.7 to the US dollar in intraday trading, the strongest reached since the currency's abrupt collapse in October 1997 ...

  2. Single Asian currency will remain a fantasy for a long time

    Posted May 09th 2006, 12:00am by Tom Holland

    ... Tom Holland As fears mount of a coming slide in the US dollar, interest is rising in the idea of an Asian currency unit. In Hyderabad last week at the Asian Development Bank's annual meeting, finance ministers from China, Japan, South Korea and the Association of Southeast Asian Nations- the so-called Asean+3 group- agreed to study the creation of 'regional currency ...

  3. HK's foreign currency reserves rise to US$127.8b

    Posted Feb 07th 2006, 12:00am by Staff Reporter

    ... LAI YING-KIT Updated at 6.18pm: Hong Kong's foreign currency reserves rose to US$127.8 billion (HK$994.2 billion) in January, a spokesman for the Hong Kong Monetary Authority said on Tuesday. The territory's foreign currency reserves increased from US$124.3 billion at the end of December 2005. This included unsettled forward contracts. Forward contracts are an arrangement ...

  4. Any loss of face could slow currency reforms

    Posted May 10th 2006, 12:00am by Elaine Wu

    ... Elaine Wu A move by the US Treasury to brand China a currency manipulator in a report due today could impede mainland currency reform rather than hasten yuan appreciation, a local ... others to believe that they are led by the Americans. Face is very important.' US Treasury Secretary John Snow is due to submit his latest regular report on the currency practices of US ...

  5. HK may play a role in currency changes, says Li

    Posted Oct 06th 2006, 12:00am by Staff Reporter

    ... Maria Chan Hong Kong could be the second city to be used as a testing ground for further relaxation of currency controls, according to David Li Kwok-po (above), the chairman of Bank of East Asia. 'Hong Kong could be next after a three to six-month trial in Tianjin,' Mr Li said on the sidelines of a Hong Kong General Chamber of Commerce luncheon. Last month, a number ...

  6. Orienwise raises US$100m from foreign-currency bond sale

    Posted Nov 23rd 2006, 12:00am by Staff Reporter

    ... Tim LeeMaster China Orienwise, a Shenzhen-based financial services provider, raised US$100 million in its foreign-currency bond sale, market sources said. The five-year bonds, which were sold at face value, carry a 10.5 per cent yield, sources said. Morgan Stanley arranged the privately placed deal. Moody's Investors Service has assigned a Ba3 foreign currency rating ...

  7. Opposition pushes for Islamic currency

    Posted May 23rd 2006, 12:00am by Baradan Kuppusamy

    ... Baradan Kuppusamy in Kuala Lumpur The Parti Islam se-Malaysia is proposing to issue the Islamic dinar as currency in Kelantan state, a move seen as challenging the Islamic credentials of Prime Minister Abdullah Badawi. Mr Abdullah immediately rejected the plan. 'It is against the law for states to issue their own currencies,' he told the Bernama news agency from Egypt, ...

  8. Technology helps to level the playing field in currency markets

    Posted Jul 30th 2006, 12:00am by Louis Beckerling

    ... Reports by Louis Beckerling THE MARCH OF technology has levelled investment playing fields, and perhaps none more so than in currency trading markets, which now record average daily turnovers of more than US$2 trillion. In its infancy, currency trading was limited to largely bilateral 'hedging' positions taken by big institutions to limit the risk of translation ...

  9. Forex shops aim to test the currency trade waters

    Posted Feb 06th 2006, 12:00am by Elaine Wu

    ... Elaine Wu The People's Bank of China is preparing to launch experimental exchange shops of foreign currencies in small amounts in Shanghai's Pudong, which some experts say is a first step to opening the retail market for foreign currency trading. Sources from the bank's headquarters in Shanghai said they were looking at launching the pilot scheme this year ...

  10. China Insurance puts a premium on foreign currency

    Posted Feb 24th 2006, 12:00am by Staff Reporter

    ... in Causeway Bay. Mr Feng says CIIH is preparing to sell policies with foreign-currency premiums this year. Mr Feng said the Hong Kong-listed insurer was hoping to secure regulatory support for the products to help mainlanders manage and improve returns on their foreign-currency assets. CIIH last month issued a profit warning for last year because of a goodwill write-down related to its asset ...




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