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  • September 24, 2014
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  1. Financial crime may curb rise of Shanghai

    Posted Jul 16th 2003, 12:00am by Bill Savadove

    ... White collar offences up an average 4.8pc annually during the past five years A state newspaper has raised the alarm over a steady increase in financial crime in Shanghai, saying the prevalence of the trend threatens the city's rise as an international financial centre. The report followed a recent property scandal involving local developer Chau Ching-ngai, who is under ...

  2. A welcome change in financial approach

    Posted Jul 25th 2003, 12:00am by Staff Reporter

    ... of financial re-engineering that radically changed the way firms and governments in many advanced economies managed capital assets over the past 20 years. Institutional share ownership and the pressure ... financial management for most of the 1990s. The reasons are not hard to see. High stock prices and consistent asset inflation meant that firms could easily raise capital, and buoyant returns meant ...

  3. IBM contracted to overhaul government financial system

    Posted Aug 19th 2003, 12:00am by Staff Reporter

    ... The government has moved to revamp its ageing financial management and information system, with a recent award to IBM of a contract worth almost $350 million to set up and maintain ... director of IBM Global Services in Hong Kong. The system will replace the Treasury's ledger accounting and financial information system, which has been used since 1983. This change is expected ...

  4. Dah Sing Financial boosts CRM with Metro Ethernet

    Posted Jul 15th 2003, 12:00am by Staff Reporter

    ... Dah Sing Financial Holdings has built a high-bandwidth network for managing customer relations across all its branches. The move comes amid growing competition in the banking sector. The Hong Kong-listed financial services group recently deployed a Metro Ethernet infrastructure, based on Cisco Systems equipment, to link all 43 branches of its Dah Sing Bank and Mevas Bank ...

  5. New financial secretary faces pressure to address the deficit

    Posted Jul 18th 2003, 12:00am by David Robinson

    ... The new financial secretary faces the prospect of wrestling Hong Kong's huge fiscal deficit following the resignation of Antony Leung Kam-chung on Wednesday. The shortfall reached $61.7 billion last year and is forecast to swell to $68 billion in the 2003-04 financial year. Many market watchers see it as the territory's Achilles heel and say the longer the deficit ...

  6. Severe welfare cuts may close 13 centres and spark social crisis

    Posted Dec 31st 2003, 12:00am by Agnes Lam

    ... and single-parent families struggle for support, the Hong Kong Council of Social Service warned yesterday. Eight centres now provide services for new migrants from the mainland and five centres for single-parent families, but all of them face closure once their funding runs out, according to the council. 'The budget cuts affect these two groups most, as these centres cannot continue ...

  7. Piercing Shanghai's financial myths

    Posted Jul 28th 2003, 12:00am by Laurence Brahm

    ... In the long-hyped competition to be recognised as China's financial centre, many say Shanghai may soon eclipse Hong Kong. Certainly, common consensus holds that it has long left ... conference organisers shifted to Shanghai. In 2001, Shanghai's financial sector was recognised as one of the city's six pillar industries, growing at a rate of 2.1 per cent that year, ...

  8. Bring back Tsang as financial secretary

    Posted Jul 18th 2003, 12:00am by Jake Van Der Kamp

    ... on the way back to a fiscal balance or risk Hong Kong's standing as a financial centre. What better man to do it than the one who has had the longest experience of where expenditure cuts can ... struggles to put all the experience he has amassed in government fully to work. Let us have him back as financial secretary. It is a much more important post now, much better suited to his abilities ...

  9. Towering IFC redefines life in the city centre

    Posted Sep 24th 2003, 12:00am by Michael Taylor

    ... The International Finance Centre (IFC) at No1 Harbour Road is redefining Central, extending its boundaries northward and linking it intimately with the waterfront. World-class facilities ... Nomura International (Hong Kong), with three floors; and The Financial Times, with 10,000 sq ft. Of the remaining half, more than 50 per cent is under negotiation. Internationally acclaimed ...

  10. H shares on centre stage as blue chips finish flat

    Posted Dec 11th 2003, 12:00am by Staff Reporter

    ... cent to $3.375. Interest in the mainland insurance sector also spread to financial stocks. Bank of China Hong Kong rose 2.34 per cent to another record high of $15.25. The shares have soared 82 ...




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