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  1. News - Hong Kong - CURRENCIES

    Monetary Authority intervenes to hold down value of the Hong Kong dollar

    Posted Oct 21st 2012, 12:00am by Yvonne Liu

    ... Yvonne Liu and Bloomberg A flow of hot money into Asian currencies and markets forces the first intervention in 3 years HKMA steps in to check HK dollar The Hong Kong Monetary Authority intervened in the currency markets for the first time in nearly three years yesterday to hold down the value of the Hong Kong dollar. The currency has been pushed close to the upper limit of its ...

  2. Business - Comment

    Plans to hitch the US$ to gold are doomed to certain failure

    Posted Aug 28th 2012, 12:00am by Tom Holland

    ... as the main monetary anchor for the economy. The US dollar would be convertible into gold at a fixed price, and the stock of currency in circulation would be backed by reserves of gold, just as Hong ... at US$10,286 an ounce would involve an 80 per cent devaluation of the US currency against gold, which would hardly be a recipe for stability.) Julian Jessop at independent research house Capital ...

  3. Business - Money

    Hong Kong mints new batch of HK$5 coins for first time in 14 years

    Posted Oct 02nd 2012, 12:00am by Enoch Yiu

    ... Enoch Yiu enoch.yiu@scmp.com It was released in August while new HK$2 coins are to be circulated in December First new HK$5 coin minted in14 years The Hong Kong government has quietly begun issuing new HK$5 coins, for the first time in 14 years. A newly m ...

  4. Wages and currency gains eat into profit at Vtech

    Posted Nov 17th 2011, 12:00am

    ... Neil Gough neil.gough@scmp.com Vtech Holdings said rising wages and currency appreciation on the mainland were to blame for declining profit in the six months to the end of September. ... but steadily rising currency have been the norm in recent years. The average monthly income of mainland migrant workers rose to 1,991 yuan (HK$2,437) in the third quarter, up 20 per cent from 1,659 ...

  5. Warning over sky-high interest rates for dual currency credit cards

    Posted Oct 18th 2011, 12:00am

    ... Lo Wei The consumer watchdog is warning of a huge disparity in the interest charged for dual currency credit cards, rates for which can rise above 40 per cent a year for users who fail ... in Hong Kong and on the mainland are listed in separate accounts on the same statement, to be settled in the respective currencies. For retail purchases, the annualised percentage rate- the amount ...

  6. Business - Banking & Finance - CURRENCIES

    China to 'allow full yuan convertibility' by 2015

    Posted Sep 13th 2012, 12:00am by JANE CAI AND DANIEL REN

    ... China will probably take the groundbreaking step of making the yuan a fully convertible currency as early as 2015, former central bank governor Dai Xianglong said. "If nothing unusual takes ... or individuals overseas to freely exchange foreign currencies into yuan to buy mainland assets or equities, while Chinese companies and residents could make fixed-asset investments and buy stocks abroad ...

  7. Business - Comment

    Yes, the HK$ peg is to blame, but the alternatives are worse

    Posted Oct 18th 2012, 12:00am by Tom Holland

    ... Tom Holland Cheap money is behind high property prices but any moves to fully float or manage the currency like Singapore do have their pitfalls Yes, the HK$ peg is to blame, ... building more flats will simply encourage more buyers to invest in the property market. The real problem, he insists, is Hong Kong's currency peg to the US dollar, which forces the city ...

  8. Money doesn't grow on trees

    Posted Jun 27th 2012, 12:00am

    ... currency valuable, the government would lock up the equivalent value of gold in banks when money was issued. The policy was called the gold standard. But it faded from use as it was impossible ... that began in America at the end of 1929 and lasted at least a decade- this gold standard tradition remained in the US. Yet other nations tied their currency value to the US dollar- named the Bretton ...

  9. Yuan payments on rise while HK dollar slips

    Posted Jul 25th 2012, 12:00am

    ... 17.4 times over the period, compared with an average growth of 1.1 times for other currencies surveyed. The group measured the use of currencies for payments in its network, which links 10,000 banks and securities firms worldwide, from October 2010 to June this year. It said the yuan was now the 16th most-used payment currency, up from 35th in October 2010. The yuan is now ahead ...

  10. TCL set to fight back in wake of profit tumble

    Posted Apr 27th 2012, 12:00am

    ... Sophie Yu sophie.yu@scmp.com Hong Kong-listed TCL Communication Technology plans to roll out dozens of new smart phone models from the second quarter, aiming for 30 per cent revenue growth this year. Shenzhen-based TCL Communication, the handset manufactu ...




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