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  1. SAFE expands currency exchange services

    Posted Aug 21st 2008, 12:00am by Staff Reporter

    ... Jane Cai in Beijing Non-financial institutions on the mainland have been cleared to offer currency exchange services to individuals on a trial basis in Beijing and Shanghai. Qualified ... (SAFE) said yesterday. The move breaks the mainland monopoly enjoyed by banks and their authorised outlets on currency transactions by individuals. However, corporate entities will still have ...

  2. Clear Media's profits plunge amid slow recovery in ad spending

    Posted Mar 04th 2010, 12:00am by Staff Reporter

    ... Isabella Steger Mainland outdoor advertising company Clear Media reported a sharp drop in full year profit due to a slow recovery in advertising spending and more stringent regulations, but it expects 2010 to improve on the back of the World Expo in Shang ...

  3. SPG Land forecasts sales to hit 10b yuan

    Posted Sep 05th 2009, 12:00am by Sandy Li

    ... Sandy Li Medium-sized developer SPG Land (Holdings) expects to double its contract sales target to more than 10 billion yuan (HK$11.35 billion) in 2011 as more projects will be ready for pre-sale in the next two years. The aggressive target comes after th ...

  4. Home loan approvals rise as more qualify

    Posted Jan 30th 2009, 12:00am by Yvonne Liu

    ... Yvonne Liu Mortgage approvals in Hong Kong rebounded 22.8 per cent last month, helped by the launch of new projects and an easing of requirements for home loan applicants. Approvals for residential mortgages dropped 5.9 per cent to 110,186 cases for the w ...

  5. PayPal in search of Hong Kong partners

    Posted Mar 15th 2005, 12:00am by Staff Reporter

    ... that regard, it is important that the consumer be able to pay the merchant in a currency they are familiar with. It would be quite difficult for a Hong Kong merchant to convince a US or European ... British pounds, and Japanese yen. 'Hong Kong merchants can withdraw all of their PayPal balances in any currency to a Hong Kong-based bank account, at which time funds are converted to Hong ...

  6. Hot cash flowing in- but is it legal?

    Posted Oct 11th 2009, 12:00am by Chloe Lai, Peggy Sito

    ... the border through complex arrangements- some legal, some not. The yuan is not freely convertible into foreign currency in the absence of approval by the State Administration of Foreign Exchange. And the central government maintains strict controls over individuals converting yuan into foreign currencies, including the Hong Kong dollar. But these limits are easily circumvented by mainlanders eager ...

  7. Citic Pacific to offload A$ bets

    Posted Nov 13th 2008, 12:00am by Staff Reporter

    ... Staff Reporter Mystery buyer lined up for unauthorised currency contracts with losses of HK$15b State-owned conglomerate Citic Pacific has arranged for an unknown third party to take over unauthorised Australian currency derivative contracts that involve losses of HK$15 billion, a reliable source says. The move will cap Citic Pacific's loss. Together with a cash injection of US$1.5 ...

  8. Hang Seng Bank gets nod for yuan services

    Posted Mar 01st 2004, 12:00am by Ben Kwok

    ... received approval from the China Banking Regulatory Commission for its Shanghai and Guangzhou branches to extend its business to domestic companies along with its existing foreign currency ... has four mainland branches, including a sub-branch in Shanghai, offering foreign currency banking services to mainland companies and citizens. It also offers yuan deposits, loans, remittances ...

  9. Citigroup targets card-carrying elite

    Posted Dec 06th 2004, 12:00am by Staff Reporter

    ... Bei Hu Issuance of co-branded dual-currency plastic will be extended to 10 Chinese cities by end of next year Citigroup and its minority-owned Shanghai Pudong Development Bank (SPDB) will expand the issuance of their co-branded credit card to more key mainland cities next year, according to officials. The widening geographical reach of their yuan and US dollar dual-currency ...

  10. Citic Pacific bailout is best option, says chairman

    Posted Dec 20th 2008, 12:00am by Carol Chan

    ... Carol Chan Larry Yung Chi-kin, chairman of Citic Pacific, said yesterday the plan by its parent company to bail it out following currency losses is the firm's best option. He would ... criticised for their handling of its massive paper losses arising from unauthorised currency bets by former finance director Leslie Chang Li-hsien. He has been sacked. The losses stem from ...




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