Although the cost of raising capital has surged since the subprime crisis hit, lenders have not stopped seeking expansion, especially across the border, according to market participants and watchers.Saturday, 2 February, 2008, 12:00am
Hong Kong-listed shipping firm Jinhui Holdings has scrapped a US$245.24 million order for two very large ore carriers as borrowing costs surge amid the global credit crunch.
The cancellation would also reduce any future business risk as the credit market remained affected by the subprime mortgage crisis in the United States, the company said.1 Feb 2008 - 12:00am
The Hong Kong Monetary Authority said there was some uncertainty in the outlook for loan demand given the potential spillover from the US subprime crisis and concerns about economic growth, particularly in the United States.25 Jan 2008 - 12:00am
With local lenders responding to Fed cut, prime drops below inflation level of 3.8pc24 Jan 2008 - 12:00am
Americans were not the only ones who awaited anxiously the release of President George W. Bush's US$145 billion stimulus package for the US economy. The rest of the world is wondering whether it is sufficient - and whether it has come in time to prevent the world's biggest economy sliding into a full-blown recession.20 Jan 2008 - 12:00am
If you are wondering how bad the subprime crisis in the United States is going to get, former International Monetary Fund chief economist Kenneth Rogoff has a plausible answer. At best, it will be bad. At worst, it will be thoroughly nasty.18 Jan 2008 - 12:00am
The investment funds in the Mandatory Provident Fund scheme, which cover more than two million workers, had an average gain of 15.93 per cent last year, thanks to strong global stock markets, according to a report by Lipper.12 Jan 2008 - 12:00am
Some global investment banks, which shot themselves in the foot with their subprime follies, will spend the next few months trying to figure out their balance sheets and hide their embarrassment.11 Jan 2008 - 12:00am
The US Federal Reserve may cut rates by as much as 125 basis points this year if the credit market remains tight, say analysts, who believe that could in turn bring Hong Kong's prime lending rates down to as low as 5.5 per cent.
A report by Citi said Hong Kong banks were expected to cut their prime rates and mortgage rates by at least 75 basis points in the first half.9 Jan 2008 - 12:00am
China Merchants Bank, the mainland's seventh-largest lender, estimates profits for last year surged more than 110 per cent as the country's economic growth prompts companies and consumers to borrow more and encourages sales of wealth management products.8 Jan 2008 - 12:00am