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  • October 25, 2014
  • Last updated: 11:15am
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  1. Business - Banking & Finance - CURRENCIES

    Sydney expected to get yuan clearing bank soon

    Posted Oct 25th 2014, 03:41am by Jeanny Yu

    ... in yuan. Sydney is looking to join Hong Kong, Singapore, London, Frankfurt, Taipei and Seoul as offshore centres that have obtained yuan clearing bank status. Singapore is set to start onshore ...

  2. Business - Economy - CURRENCIES

    Beijing's political ties crucial to liberalising the yuan

    Posted Oct 13th 2014, 04:13am by Jeanny Yu

    ... Liao said: "Going forward, Hong Kong will remain to be the biggest offshore yuan centre, as it is designed as the international financial centre under the 'one country, two ...

  3. Business - Banking & Finance - CURRENCIES

    Mainland Chinese banks eye Luxembourg as euro zone hub

    Posted Oct 06th 2014, 04:10am by Toh Han Shih

    ... will boost Luxembourg's role as a renminbi hub, said Nicolas Mackel, chief executive of Luxembourg for Finance, the agency responsible for promoting Luxembourg as a financial centre. "This decision will encourage investors who use the euro as a base currency to directly trade in renminbi, since it will lower transaction costs. Thus, RMB business volumes in European RMB centres ...

  4. Business - Money - CURRENCIES

    Yuan proves to be a bulwark against strong US dollar in Asia

    Posted Oct 09th 2014, 05:55am by Jeanny Yu

    ... of the resilience it has shown since the 2008 global financial crisis. The yuan strengthened again yesterday after the central bank boosted the currency's reference rate after a week-long holiday ...

  5. Business - Companies - CURRENCIES

    Soaring greenback poses earnings threat to US companies

    Posted Oct 07th 2014, 12:14pm by Reuters

    ... Reuters in New York Third-quarter profit-growth expectations for S&P 500 companies have fallen to 6.4pc from about 11pc two months ago as currency gains ground Surging dollar to hit U.S. profits They were the bank assets nobody would touch during Europe's financial crisis. Late payments on credit cards, underwater mortgages and failed loans to small businesses. Now ...

  6. Business - Economy - CURRENCIES

    Hong Kong dollar stable despite Occupy Central unrest

    Posted Oct 01st 2014, 04:18am by Bloomberg

    ... the global financial crisis. While a measure of currency price swings jumped to 0.6 per cent, it failed to breach a high in March, when pro-democracy protests started to reach a head. The measure climbed to 1.6 per cent during the global financial meltdown in 2008, after peaking at 3.5 per cent at the end of the 1990s Asian crisis. Tens of thousands of pro-democracy protesters have flooded ...

  7. Business - Banking & Finance - CURRENCIES

    G20 regulators agree on plan to minimise currency manipulation

    Posted Oct 01st 2014, 04:18am by Reuters

    ... incentives for manipulation while at the same time still ensuring the fix is fit for purpose by generating a replicable market price," the Financial Stability Board (FSB) said in its final report on forex benchmarks. The Global Financial Markets Association, which represents international foreign exchange dealers, welcomed the recommendations. "As the report highlights, ...

  8. Business - Banking & Finance - CURRENCIES

    Yuan to start direct trading with euro today

    Posted Sep 30th 2014, 04:32am by Bloomberg

    ... Australian and New Zealand dollars, the British pound and the Japanese yen. The yuan ranked seventh for global payments last month and more than a third of the world's financial institutions have used it for transfers to the mainland and Hong Kong, the Society for Worldwide International Financial Telecommunications said last week. "It's a fresh step forward ...

  9. Business - Economy - CURRENCIES

    Surging yuan trade sees Russia tilt towards China

    Posted Sep 26th 2014, 05:09am by Bloomberg

    ... year. Gazprom and its Chinese partner, China National Petroleum Corp, the country's biggest oil and gas producer, have so far declined to comment on the financial details of the accord. ...

  10. Business - Economy - CURRENCIES

    Taiwan must ease rules to become offshore yuan hub: SinoPac Financial

    Posted Jul 19th 2013, 12:00am by Bloomberg

    ... for the yuan, SinoPac Financial Holdings said. The island should allow the free entry and exit of yuan and lift a ban on mainland companies selling bonds denominated in the currency in Taiwan, said Stan Siao, president of SinoPac, the first Taiwan lender to draw a mainland investor. "We aren't a financial centre yet," Siao, whose company is selling a 20 per cent stake in Bank ...




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