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  1. 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 ...

  2. HKMA injects HK$6.2b into bank system to check currency's rise

    Posted Apr 24th 2009, 12:00am by Staff Reporter

    ... Maria Chan The Hong Kong Monetary Authority pumped HK$6.2 billion into the banking system yesterday, the third consecutive day of injection, to keep the local currency from rising above ... haven,' he said. Separately, a currency dealer said the recent rise in the Hong Kong dollar was due in part to some speculation about the fate of the currency peg amid growing talk ...

  3. 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 ... and industry supervisors at the People's Bank of China. Since October, many people in Shenzhen had discovered they could make a profit from currency trading between official banks and the black ...

  4. 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 expectation for yuan depreciation has weakened significantly.' The People's Bank of China recorded a net purchase of US$35.5 billion worth of foreign currencies last month, up from US$22.5 ...

  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 ... the reserves' status. Time and again, doubts have been raised about the peg's future. Beijing's public challenge to the reserve currency status of the US dollar may reopen this debate. ...

  6. Economy may grow this quarter

    Posted Oct 08th 2009, 12:00am by Dennis Eng

    ... Dennis Eng Hong Kong's economy is likely to expand this quarter after contracting for the past four, amid growing signs the global recession has eased, the University of Hong Kong forecasts. Year on year, the university projects that real gross domes ...

  7. SFC executives under fire over pay increase

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

    ... Enoch Yiu Senior executives of the Securities and Futures Commission have come under fire for receiving pay increases despite the market regulator's earnings slumping 48.4 per cent in the past financial year. A steep slide in income from levies on st ...

  8. Sales optimism boosts mainland developers

    Posted Apr 02nd 2009, 12:00am by Peggy Sito

    ... Peggy Sito Hong Kong-listed mainland developers saw their shares surge yesterday as more investors speculated that the worst for the sector was over amid easier lending and a continued rise in home sales. Shares of Soho China, the biggest developer in Bei ...

  9. Shangri-La bearish after earnings plunge 51.3pc

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

    ... Neil Gough Luxury hotelier Shangri-La Asia expects room rates to deteriorate further after the company reported a worse than expected 51.32 per cent drop in net profit last year. Chief financial officer Madhu Rao said average revenue per available room ac ...

  10. Mainland GDP growth weakens to 7-year low

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

    ... in Beijing. He cited signs of 'positive changes' in the December figures. Outstanding local currency loans for last month expanded 771.8 billion yuan, up 723.3 billion from December 2007, ...




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