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  • April 19, 2014
  • Last updated: 6:47pm
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  1. Business - Banking & Finance - CURRENCIES

    Hong Kong urged to expand its advantage in yuan trade

    Posted Apr 12th 2014, 12:59am by Ray Chan, Jeanny Yu

    ... with strong understanding of the currency. They believe the city's first-mover advantage in yuan trade can be expanded swiftly as Hong Kong is more than 10 years ahead of Western players ... Bill Stacey, the chairman of think tank Lion Rock Institute, said investors in Hong Kong enjoy low costs in trading and exchanging multiple currencies, leading to a favourable position ...

  2. News - World

    Cuba to scrap its two-tier currency system

    Posted Oct 23rd 2013, 04:14am by Reuters

    ... Reuters in Havana Move could add to workers' incomes and remove major hurdle to increasing trade Cuba to scrap two-tier currency Cuba took the first step towards scrapping its two-tier currency yesterday in a move that could boost local workers' income and remove a major hurdle for importers and exporters. The government said it had approved a plan to gradually ...

  3. Business - Companies

    Danone sales slow as Russia, China bite

    Posted Apr 17th 2014, 01:09am by Reuters

    ... group sales adjusted for currency effects and acquisitions grew 2.2 per cent year on year in the quarter, a slowdown from the 2.9 per cent growth in the fourth quarter of last year, Danone said yesterday. Total sales, which include the effects of foreign exchange fluctuations, reached US$7 billion. Excluding currency effects the decline was 5.2 per cent. China contributes 6 per cent ...

  4. Property - International - AUSTRALIA

    Bitcoin meets bricks and mortar

    Posted Apr 02nd 2014, 05:47am by Bloomberg

    ... Bloomberg in Sydney Sydney broker accepts payments in world's most popular virtual currency in response to an influx of investors from the mainland Bitcoin joins bricks and mortar world Forsyth Real Estate, a Sydney-based property broker, will accept property deposits and payments from sellers in virtual currency bitcoin to lure business from Chinese homebuyers. ...

  5. Business - Banking & Finance

    US warns China over yuan depreciation and market intervention

    Posted Apr 09th 2014, 01:40am by Reuters

    ... concerns" if it signalled a policy shift away from allowing market-determined exchange rates. Washington has been pressing Beijing for years to allow its currency to trade at stronger values. A weak ... of the Treasury suggest Washington is not completely sold on Beijing's intention to reduce intervention in exchange markets. "If the recent currency weakness signals a change in China's ...

  6. Business - Banking & Finance

    Currency caution

    Posted Oct 19th 2013, 03:12am by Reuters

    ... for eventual liberalisation Currency caution China's tolerance for a sustained yuan rally is reinforcing its commitment to wean the economy off export dependence, but its unapologetic market meddling to hold back the pace of appreciation shows deep wariness of currency liberalisation. The decision by the People's Bank of China (PBOC) to allow market forces to push the yuan up more ...

  7. Business - Banking & Finance - CURRENCIES

    Looser controls over yuan bring mixed blessings

    Posted Mar 17th 2014, 01:57pm by Jeanny Yu

    ... the market by surprise. Allowing more volatility of the yuan does not mean the currency is going to trade at the extremes of the band right away- its largest one-day move against the dollar last year ... of capital outflow, [given the softening economic backdrop] must be acknowledged," said Geoffrey Kendrick, head of Asian currency and rates strategy at Morgan Stanley. The one-month implied ...

  8. Business - Banking & Finance - BANKING

    Hong Kong banks vie for edge in yuan deposits with high rates

    Posted Apr 09th 2014, 11:14am by KANIS LI

    ... Kanis Li kanis.li@scmp.com Against falls in the currency, lenders in HK are offering rates as high as 3.8 per cent for one month per year amid signs demand is holding up Banks vie for edge in yuan deposits with high rates Hong Kong banks are stepping up efforts in the battle for yuan deposits with high interest rate promotions in the currency, which has fallen the most among Asian ...

  9. Business - Banking & Finance

    John Greenwood, the currency peg architect, reveals biggest challenges

    Posted Oct 17th 2013, 12:00am by NICK EDWARDS

    ... of production and a current account deficit. Those countries have had all of that and the sharp weakening of their currencies is a reflection of that. They've also had double-digit inflation. All ...

  10. Business - Banking & Finance - CURRENCIES

    Need seen for hedging services to offset volatility

    Posted Mar 03rd 2014, 02:59am by KANIS LI

    ... for the yuan in trading among local companies and in global trade is expected to continue despite increased volatility in the mainland currency, spurring the need for yuan hedging services to help offset potential losses caused by short-term currency fluctuations. A sharp fall against the US dollar onshore and offshore- down 1.46 per cent on the month- made the yuan the worst-performing ...




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