Euro-zone crisis has exporters ducking for cover

It's not just the banks suffering in the euro-zone crisis - it has left a growing number of European firms unable to settle trades with Asian exporters, and credit insurers facing a sharp rise in claims caused by the defaults.

Monday, 23 July, 2012, 12:00am

Former BAML bankers step up Asia deal-making

When Bank of America-Merrill Lynch (BAML) turned its nose up at private equity (PE) in Asia, several former BAML bankers disagreed.

BAML didn't see private equity in the region as a core business, helping to clear the way for the spin-off of its private equity team in Asia with the creation of Hong Kong-based NewQuest Capital Partners, a US$400 million investment firm.

23 Jul 2012 - 12:00am

Terror, riots, weather add up to big risks

If the London Olympic Games were cancelled at the last minute, it wouldn't just be the spectators who'd be disappointed - insurers covering the international event would face huge compensation bills.

23 Jul 2012 - 12:00am

Arriving at a cost is a magical mystery tour

In 2004, Google came to market with an initial public offering (IPO). The company took an unconventional approach to pricing: it put its offer to all investors through an open, Dutch auction.

23 Jul 2012 - 12:00am

HK$1,000 banknote is first choice for money laundering

On many occasions I have been standing in a queue in a branch of HSBC and other banks in Hong Kong and have seen someone depositing huge amounts of cash.

For example, once I saw a mainlander emptying a bag full of HK$1,000 notes. I estimated he must have had millions of dollars.

Letter to the editor, July 20

22 Jul 2012 - 12:00am

Beijing cuts broker fees 20pc to shore up market

Beijing will cut brokerage trading fees by 20 per cent to bolster the weak market, following a 25 per cent reduction last month.

21 Jul 2012 - 12:00am

Education stock rises after boss retaliates

Shares in New York-traded New Oriental Education & Technology Group rebounded after it hit back at allegations from short seller Muddy Waters that it had made fraudulent financial statements.

21 Jul 2012 - 12:00am

Industry group to scrutinise Hibor fixing

The Hong Kong Association of Banks is reviewing the fixing procedures and governance structures of the Hong Kong interbank offered rate (Hibor), following intense central bank scrutiny of the mechanism used for the London interbank offered rate (Libor).

20 Jul 2012 - 12:00am

Lai See

And none of the Twilight stars was even in attendance

20 Jul 2012 - 12:00am


Highly paid officials need to do their job

Regina Ip Lau Suk-yee is right to point out that it is imperative that confidence in our civil service be restored as soon as possible ('Upright ways', July 17), but she does not offer the way to do it.

20 Jul 2012 - 12:00am

Hopes of policy supportpush up mainland stocks

Stocks in Shanghai and Hong Kong rose yesterday on investor hopes that Beijing may soon issue stimulus measures to support the mainland's economic growth.

Speculation about new market support intensified yesterday, with traders and analysts expecting Premier Wen Jiabao may announce some policies to encourage more investment and boost domestic consumption.

20 Jul 2012 - 12:00am

A convenient scapegoat apologises

HSBC says sorry to senate for drug money blunders

SCMP headline, July 18

Let's examine a little more closely just what it is that HSBC is said to have done. Here are some of the accusations from yesterday's news accounts:

19 Jul 2012 - 12:00am

SHKP shares weathering the storm, analysts say

The worst may be over for shares in Sun Hung Kai Properties (SHKP), which appear to have fully priced in the corruption investigation into the company's billionaire co-chairmen.

Thomas Kwok Ping-kwong and Raymond Kwok Ping-luen were charged on Friday with bribery and misconduct in public office.

17 Jul 2012 - 12:00am

Esquire Group application resumes battle with HSBC

The Esquire Group is seeking a default judgment against HSBC for hundreds of millions of dollars following the collapse of his electronics trading business several years ago.

An application by businessman Gurdas Sabahagchand Choithramani was filed in the High Court yesterday.

HSBC and lawyers Mayer Brown JSM have been given two days to respond.

17 Jul 2012 - 12:00am

Machinery giant's IPO on track after ruling

First Tractor, the mainland's largest agricultural machinery maker, is pushing ahead with its 1.15 billion yuan (HK$1.35 billion) initial public offering today after the securities regulator dismissed fears that it would weaken the market.

17 Jul 2012 - 12:00am