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  • November 22, 2014
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  1. Business - Economy - CURRENCIES

    Worst to come for Canadian 'loonie' as oil prices fall

    Posted Oct 27th 2014, 05:19am by Bloomberg

    ... dollar The oil boom that powered Canada's recovery from its 2009 recession is turning into a bust for the nation's currency. The Canadian dollar tumbled this month to a five-year low ... the chief currency strategist at Toronto-Dominion, Canada's largest bank. "Any sort of setback for growth and investment in the energy sector is likely to have a fairly significant ...

  2. News - Hong Kong - ON SECOND THOUGHT

    Wait may help the Shanghai share link run more smoothly

    Posted Nov 14th 2014, 04:58am by LAM WOON-KWONG

    ... the Bretton Woods currency system collapsed, leading to a crash of global stock markets in which the US dollar went into free fall and interest rates shot up correspondingly. Second, oil prices jumped ... currency. If the scheme runs well, the renminbi will be one step closer to entering foreign markets. That both sides have taken only a few months to work out the logistics of the highly complex ...

  3. Business - Companies - INSURANCE

    Manulife Financial net income up 6.4pc on strong Asia business

    Posted Nov 14th 2014, 08:21am by Sophie Yu

    ... reported record insurance sales on a constant currency basis during the third quarter, with double-digit growth in Hong Kong and Indonesia. “We achieved satisfactory overall insurance sales,” ...

  4. Business - Banking & Finance

    Banks putting aside up to US$2.7b for foreign exchange rigging fines

    Posted Nov 03rd 2014, 04:19am by Bloomberg

    ... Bloomberg in Geneva and London Banks put aside US$2.7b for forex fines Banks began have been setting aside money for currency-rate rigging probes recently, with as much as US$2.7 billion ... this month, sources said. US bank regulators at the Federal Reserve and Office of the Comptroller of the Currency are also in settlement talks with some of the same banks, such as JP Morgan, ...

  5. 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 ...

  6. Business - Money - CURRENCIES

    Yuan hits its stride as offshore hubs catch up

    Posted Oct 31st 2014, 06:04am by Jeanny Yu

    ... high last month, in the latest sign that the currency is fast spreading out of China as other global financial hubs catch up with Hong Kong in yuan trade. Payments between offshore yuan hubs, ... partners. However, Swift's latest report shows that it is also being increasingly used as an investment currency in securities trades and foreign exchange transactions. In the yuan securities ...

  7. Business - Economy

    Does Japan's recession mean Abenomics has failed or needs reinforcing?

    Posted Nov 19th 2014, 04:30am by AFP

    ... spending. Prices also began to rise but, crucially, that was largely driven by the weak currency pushing up import costs, rather than a broad-based jump in consumer demand- and it dug into the real ...

  8. Business - Banking & Finance - REFORM

    Through train a catalyst for removal of yuan exchange cap

    Posted Nov 13th 2014, 07:10am by Enoch Yiu

    ... to exchange other currencies into yuan," he said. The removal of the cap, however, means Hong Kong has to settle the yuan in the offshore yuan market here instead of using the onshore market ...

  9. News - Hong Kong

    Hong Kong banks ready to capitalise on expected flood of yuan into city

    Posted Nov 12th 2014, 07:01pm by denise tsang and amy nip

    ... currency, the firm said. But Tommy Ng, an executive with an insurance company, said he is more conservative  and prefers higher-yield investment funds, which offer more than 3 per cent returns. ...

  10. Business - China Business - REGULATION

    Opening up credit card clearing market could lead to yuan outflows

    Posted Nov 05th 2014, 03:21am by DON WEINLAND

    ... quotas for the amount of yuan a person can exchange into foreign currency daily or annually. Experiments such as Shanghai's pilot free trade zone or the Shanghai-Hong Kong "through ... electronic financial transactions denominated in yuan would be another small step in the overall liberalisation of the currency. But it might also punch additional holes through which the yuan could ...




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