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  • August 31, 2014
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  1. Business - Money

    Asian shares fall as dollar gains, Australian dollar slides

    Posted Jul 03rd 2013, 12:18pm by Reuters

    ... against a basket of major currencies, rose to as high as 83.622 earlier on Wednesday, its highest level since late May. The dollar gained a lift after data showed that US new motor vehicle sales ... Reuters in Singapore and Sydney Concerns over Federal Reserve, slowing growth in China’s service sector weigh on Asian markets The dollar hit a one-month high against a basket ...

  2. News - China - DRUG SMUGGLING

    Chinese police seize US$6.5 million worth of cocaine in shipping container after US tip-off

    Posted Aug 29th 2014, 04:45pm by Agence France-Presse in Beijing

    ... Police – who are cracking down on drugs as part of a wider war on excess – were tipped off about a suspect shipping container from Peru by US Drug Enforcement Administration officials, ... the cocaine. Xinhua said the haul was “the largest amount ever recovered by Chinese police in a single case in recent years”. The US street value of the drugs was more than US$6.5 million, according ...

  3. Business - Banking & Finance - DEBT

    Dim sum bond issuance set to drop 50pc in second half

    Posted Aug 23rd 2014, 01:06am by Jeanny Yu

    ... sum bonds to lock in more lucrative yields than the zero per cent interest on US dollar deposits. To hedge the exchange rate risk, investors buy a cross currency swap to sell yuan and buy back US dollars. They would be able to earn from the spread between dim sum bond yields and the currency swap rate. "The [dollar-yuan swap] rates are likely to stay elevated, and could move ...

  4. Business - Companies - AVIATION

    Hainan Airlines profit down 25.35pc

    Posted Aug 28th 2014, 11:03am by SIJIA JIANG

    ... The yuan declined as much as 3.39 per cent against the US dollar in the first four months of the year after steadily appreciating in the past decade. The weakening of the yuan has badly hit mainland airlines with large dollar-based debt. ...

  5. Business - Money - CURRENCIES

    European renminbi payments double, with Britain and Germany leading way

    Posted Aug 27th 2014, 09:28am by Jeanny Yu

    ... The top six are the US dollar, the euro, the British pound, the yen, the Australian dollar and the Canadian dollar. ...

  6. Business - Commodities - COURTS

    Citic Resources sues Qingdao Port for US$108m compensation

    Posted Jul 29th 2014, 02:34pm by CHIM SAU-WAI

    ... Chim Sau-wai sauwai.chim@scmp.com Mainland firm demands return of metals held by authorities as part of fraud probe into port Citic sues Qingdao Port for US$108m compensation Citic Resources has filed a lawsuit against Qingdao Port International, demanding US$108 million in compensation if its fails to deliver base metals retained by the authorities as part of the fraud ...

  7. News - World - IRAQ

    Feels like defeat: US air force bombs US-made army kit to foil Islamic State

    Posted Aug 27th 2014, 08:46pm by Reuters

    ... Reuters in Washington US jets bombing US-made army kit 'feels like defeat' The grainy black-and-white footage shows a military vehicle, a small dark mass in the crosshairs of a United States war plane, seconds before it explodes in a flash of light. That August 16 strike in northern Iraq, shown in video released by the US military, killed an unknown number of Islamic ...

  8. News - World

    Obama to use African summit in US to focus on Islamist violence

    Posted Aug 04th 2014, 10:02pm by AFP

    ... by President Yoweri Museveni and his loyalists, who are accused of looting tens of millions of dollars in US foreign aid since taking power in 1986 and using the army to crack down on political ... Agence France-Presse in Lagos US president will use Washington summit to discuss rising Islamist violence on continent, but is unlikely to increase direct military aid Obama's Africa ...

  9. Business - Banking & Finance - DEBT

    Taiwan insurers chase foreign bond offerings

    Posted Aug 26th 2014, 01:10am by BLOOM

    ... Bloomberg in Taipei With US$580 billion of assets, the industry eyes better yields from yuan and US dollar issues Taiwan insurers chase foreign bond offerings Taiwan's insurers drove ... of yuan-denominated Formosa notes since the rule change in May, against 1.5 billion yuan in the previous four months. Dollar debt offerings also picked up, climbing to US$4.8 billion as Morgan Stanley raised ...

  10. News - World - Russia-US relations

    Moscow accuses US of abducting Russian MP’s son over US$1 million credit card hacking fraud

    Posted Jul 09th 2014, 10:07am

    ... Agence France-Presse in Moscow Roman Seleznev held in American territory of Guam after capture in the Maldives, accused of hacking into US retail computer systems to steal over 200,000 ... will be accused of all sorts of sins including “killing Kennedy.” The case further piqued Russian anger amid a bitter tug of war with Washington over the fate of ex-Soviet Ukraine. The US Justice ...




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