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  • July 12, 2014
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  1. Business - Banking & Finance

    Central banks' investment in yuan puts currency nearer reserve status

    Posted Apr 07th 2014, 04:38am by Jeanny Yu

    ... Jeanny Yu in Singapore jeanny.yu@scmp.com Investment by dozens of central banks comes despite currency not being fully convertible Yuan moves fast on path to reserve status, says StanChart At least 40 central banks have invested in the yuan and several others are preparing to do so, putting the mainland currency on the path to reserve status even before full convertibility, Standard ...

  2. Business - Banking & Finance - CURRENCIES

    New Zealand-China currency deal to boost bilateral investments

    Posted Mar 26th 2014, 05:29am by Jeanny Yu

    ... Jeanny Yu jeanny.yu@scmp.com Direct conversion between the kiwi and the yuan will further encourage bilateral investments beyond dairy products to health care and aviation NZ-China deal to boost trade The recent deal with China to allow direct trading bet ...

  3. Business - Companies

    Nike warns of currency pressures on profits

    Posted Mar 22nd 2014, 01:30am by Reuters

    ... Reuters in New York Maker of sports shoes and apparel expects slowing sales in China amid intense rivalry Nike warns of currency pressures on profits Nike warned Wall Street on Thursday that growing pressures from weaker currencies in key emerging markets would take a toll on its profit this quarter and into the next financial year. The maker of sports shoes and apparel also said ...

  4. Business - Banking & Finance

    China uptick, easy money drive demand for HKD

    Posted Jul 03rd 2014, 02:08am by DON WEINLAND

    ... that has forced the city's de facto central bank to intervene in currency markets for the first time in 18 months to defend the peg to the greenback. Surging speculative inflows, fuelled ... Private, told the South China Morning Post. Sheung said the currency had been strong for several weeks and that equity analysts were upgrading their views of Chinese company profit growth. Optimism ...

  5. News - Hong Kong - VIRTUAL CURRENCY

    Bitcoin exchanges have struggled to survive on mainland

    Posted Jun 24th 2014, 04:01pm by DANNY LEE

    ... Danny Lee danny.lee@scmp.com Bitcoin exchanges on the mainland have short lives The average lifespan of mainland-based virtual currency businesses is just nine months, indicating ... of the currency. "This is actually a sad story as in each case people lose their money because they've left their money in one of these exchanges," he said at the Inside Bitcoins trade show. ...

  6. Business

    Chart of the day: Death cross for loonie

    Posted Jul 11th 2014, 12:18am by Nicole Elliott

    ... Nicole Elliot Chart of the day: Death cross for loonie The so-called “death cross” is looming large over technical charts for the Canadian dollar, which is not as bad as it sounds if you are long the loonie – the foreign exchange market’s affectionate term for the currency. The chart shows how many Canadian dollars buy an American one – currently C$1.0650 – and the death cross ...

  7. News - World - UKRAINE

    Russian markets, currency take a hit on intervention in Ukraine

    Posted Mar 03rd 2014, 11:01pm by Reuters

    ... Reuters in Moscow Russian markets and currency take a hit after intervention in Ukraine Russia took a financial hit over its military intervention in neighbouring Ukraine, with its markets and currency plunging. The Moscow stock market fell over 11 per cent, wiping nearly US$60 billion off the value of Russian companies in a day, and the central bank spent US$10 billion of its reserves ...

  8. Business - Banking & Finance - CURRENCIES

    Big challenges ahead for yuan to go global

    Posted Jun 30th 2014, 01:40am by Enoch Yiu

    ... Enoch Yiu enoch.yiu@scmp.com While the currency's role in trade is likely to grow, convertibility issue will limit its use for investment or as a reserve unit Big challenges ahead for yuan to go global Wind the clock back five years and just over a dozen transactions marked the yuan's first tentative steps on the path to becoming an international currency. Now it has ...

  9. News - World - FINANCE: ANALYSIS

    Failure of Mt Gox bitcoin exchange hurts virtual currency’s prospects

    Posted Feb 26th 2014, 09:14pm by AP

    ... The sudden disappearance of one of the largest bitcoin exchanges adds to the mystery and mistrust surrounding the virtual currency, which was beginning to gain legitimacy beyond the technology ... to bitcoin's quest for acceptance by the public. Watch: Buyer protests in front of a Japanese bitcoin trading company A coalition of virtual currency companies said Mt Gox went under after secretly ...

  10. Business - Banking & Finance

    Yuan begins direct trading against sterling

    Posted Jun 20th 2014, 12:59am by BLOOM

    ... Bloomberg Move comes as Bank of China becomes first lender to clear Chinese currency in euro zone Yuan begins direct trade against sterling Yuan internationalisation took key steps forward yesterday as direct trading of the currency against the pound began and the People's Bank of China announced the first yuan clearing bank in the euro zone. The moves mark major developments, ...




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