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  • October 20, 2014
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  1. HK dollar eases as Yam backs peg

    Posted Nov 02nd 2007, 12:00am by Staff Reporter

    ... with the US dollar. 'The Hong Kong Monetary Authority has the determination and capability to maintain the stability of the exchange rate,' chief executive Joseph Yam Chi-kwong said. The Hong Kong dollar yesterday fell to HK$7.7575 to the US dollar at one point from the previous HK$7.7503 after the HKMA on Wednesday sold HK$7.828 billion to defend the currency peg. Analysts ...

  2. Tourist dollar HK's 'only weapon' in dispute with Manila over court

    Posted Dec 31st 2010, 12:00am by Patsy Moy

    ... Patsy Moy Hong Kong has little leverage over Manila other than economic power like the tourist dollar, critics say. Even so, it would be unwise for the Philippine government to refuse ... 'We are not a political heavyweight. However, the refusal of Manila to co-operate with us would not do any good to the Philippines, especially its tourist industry if Hong Kong people refuse ...

  3. James Tien urges dollar peg review

    Posted Jul 11th 2008, 12:00am by Staff Reporter

    ... was to raise interest rates, Mr Tien told reporters. 'But now the Hong Kong dollar is linked to the US dollar so our interest rate must follow theirs ... the ultimate way must be reviewing ... the US dollar. Chan Kam-lam of the DAB agreed that the government could consider reviewing the link but added that the issue must be dealt with carefully as it might not solve inflation. Democrat ...

  4. Aid offer labelled dollar diplomacy

    Posted Sep 24th 2005, 12:00am by Jacky Hsu

    ... Jacky Hsu in Taipei Taiwan will offer US$250 million in aid to its Central American allies under a 'co-prosperity' programme rapped by the island's opposition as a bid ... to five Central American and Caribbean allies that began on Tuesday. The president arrived on Thursday in Guatemala, the first leg of the state trip, which includes stopovers in the US cities ...

  5. Inflation, weak dollar require pay rise for maids, says union

    Posted Apr 16th 2008, 12:00am by Agnes Lam

    ... dollar.' There were 248,380 foreign domestic helpers in Hong Kong as of January this year, 124,740 of whom were from the Philippines, according to figures from the centre. 'The workers told us ... Agnes Lam A union has urged that foreign domestic helpers- hard hit by rising inflation and the weak Hong Kong dollar- be given a pay rise. The call came as the Philippine consulate's ...

  6. For a few dollars more

    Posted Dec 21st 2007, 12:00am by Stephen Vines

    ... of HK$9.57 million. That is about seven times more than the salary of the US Federal Reserve chief, who effectively sets Hong Kong's interest rates and other aspects of its monetary policy. Mr ... to match it. If everyone in Legco were as idle as these gentlemen it would be hard to justify any pay rise whatsoever. And some might argue that paying a few extra dollars to multimillionaires like ...

  7. Is this the cost of dollar diplomacy?

    Posted Apr 21st 2006, 12:00am by Nick Squires

    ... as being in the pocket of the Taiwanese. They accuse Snyder Rini and his predecessor, Sir Allan Kemakeza, of accepting millions of dollars in kickbacks in return for their diplomatic recognition ... teaches Pacific history at Queensland University in Australia. 'Taiwanese officials are known to have briefcases full of dollars which they dish out to government leaders. Everybody knows ...

  8. Dollar diplomacy claims denied by Taiwan minister

    Posted Oct 18th 2004, 12:00am by Jacky Hsu

    ... to former Costa Rican president Miguel Angel Rodriguez. Foreign Minister Mark Chen Tan-sun said that the island had never used 'dollar diplomacy' under the guise of foreign aid to Costa ... Rican president. He was accused of bribery and corruption, including pocketing a US$490,000 political contribution from Taipei in June and $1 million in 1999 through a company under his control. ...

  9. US envoy fails to meet Korean leader

    Posted Dec 11th 2009, 12:00am by Staff Reporter

    ... Staff reporter United States envoy Stephen Bosworth ended his three-day trip to North Korea this week. He was hoping to bring Pyongyang back to talks about the country's controversial nuclear programme. Korea's leader Kim Jong-il was out of town ...

  10. The dilemma for HK if US defaults on its debts

    Posted Jul 29th 2011, 12:00am

    ... Lulu Chen lulu.chen@scmp.com Hong Kong faces a dilemma as the prospect of an unprecedented US debt default looms large- it needs to keep buying US dollar assets to maintain its sensitive currency peg, yet at the same time try to protect the value of the city's wealth. 'If the US defaults on its debt, Hong Kong would be very susceptible given its large exposure to dollar ...




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