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  • April 16, 2014
  • Last updated: 10:37pm
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  1. Business - Economy - FINANCE

    Bank of Cyprus chairman quits post

    Posted Mar 27th 2013, 12:00am by AFP

    ... Agence france-Presse in Nicosia Bank of Cyprus chairman quits post The chairman of Bank of Cyprus tendered his resignation yesterday following the appointment of an administrator to oversee the downsizing of the island's largest lender as a condition of a euro zone bailout, reports said. This comes as thousands of students and hundreds of bank workers protested ...

  2. News - World - FINANCE

    Big Cyprus savers could lose 60pc

    Posted Mar 31st 2013, 12:00am by AFP

    ... they can satisfy the terms of the bailout. Under the first euro zone rescue package to punish savers with a so-called haircut of their money, Cyprus can qualify for the €10 billion (HK$100 billion) ... struggling euro zone countries like Greece, Italy or Spain are taking fright at the precedent set by the bailout. "Cyprus is, and will remain, a special, one-off case," German Finance ...

  3. News - China - FINANCE

    Risk aversion, rather than financial reform, likely to top NPC agenda

    Posted Mar 04th 2014, 05:37pm by JANE CAI

    ... Jane Cai xuejun.cai@scmp.com Policymakers are expected to focus more on containing financial risk than vowing to make breakthroughs in financial reforms as deputies gather this week for China’s top annual legislative meeting. While the world’s second-largest economy last year allowed banks to set their own lending rates and established a free-trade zone in Shanghai to pioneer ...

  4. News - Business - FINANCE

    Beijing reassures Hong Kong on Shanghai free-trade zone

    Posted Sep 30th 2013, 12:00am by Daniel Ren

    ... Daniel Ren in Shanghai ren.wei@scmp.com Beijing reassures on Shanghai zone Beijing was quick to soothe concerns in Hong Kong about its rivalry with Shanghai after the mainland's commercial capital officially launched its free-trade zone yesterday. Yin Zonghua, director of the international trade department of the Ministry of Commerce, told reporters the pilot run of the zone ...

  5. Business - Banking & Finance - FINANCE

    Ex-central bank official wary of interest-rate deregulation

    Posted Sep 15th 2013, 12:00am by JANE CAI

    ... in trade zone doubted A former vice-governor of China's central bank said yesterday Shanghai's free-trade zone should not spearhead liberalisation of the interest rates paid on yuan bank deposits to avoid providing opportunities for speculators to exploit the difference with interest rates outside the zone. Wu Xiaoling, now a vice-chairwoman of the financial committee ...

  6. News - World - FINANCE

    Cyprus gold sale sparks sell-off of metal, in what could be tipping point for bullion

    Posted Apr 14th 2013, 12:00am by AGENCIES

    ... Agencies in London and New York 'Make-or-break moment' for bullion as it hits an 18-month low on fears other heavily indebted euro-zone nations will dump their holdings too ... has been raised by £6 billion to £23 billion. While the gold sale by Cyprus is itself small, heavily indebted euro-zone nations such as Italy and Portugal could also find themselves under ...

  7. Business - Banking & Finance - FINANCE

    China Development Bank loans point to stealthy economic stimulus

    Posted Aug 15th 2013, 12:00am by George Chen, JANE CAI

    ... Agbank confirmed it would support Shanghai to build China's second Disneyland and pay for improvements needed to implement the city's much-heralded free trade zone. The CDB source said ... for road, railway and waterway construction projects. Hebei planned to use its funding to tackle the redevelopment of slum areas and construction for its new airport zone, said the source. The MOU ...

  8. News - China - FINANCE

    More convertible yuan next goal, China's central bank chief says

    Posted Nov 18th 2012, 12:00am by BLOOM

    ... slowdown that started in 2010. Zhou said the pilot scheme was hindered partly by the euro-zone debt crisis as the local economy was heavily reliant on exports to European markets. China had ...

  9. Business - Banking & Finance - FINANCE

    Weak sentiment turns off new market players

    Posted Aug 27th 2012, 12:00am by Enoch Yiu

    ... licensed. The collapse of Lehman Brothers in September 2008 hit the market hard, sending headcounts plunging. This year, with the euro-zone crisis in full bloom, many investment firms ...

  10. News - World - FINANCE

    Rich Russians flock to Cyprus to salvage their investments

    Posted Mar 24th 2013, 12:00am by GDN

    ... finances, which range from the low thousands to hundreds of millions of euros and total more than US$32 billion. "Everyone has flown in hoping to use contacts with locals to pressure ...




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