Posts Tagged ‘Hong Kong’

HSBC: Vietnam economy recovering

Posted: February 20, 2013 in Asian Currency Markets
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Sat, February 2, 2013,9:28 AM (GMT+0700)

The Hong Kong and Shanghai Banking Corporation (HSBC) released its Vietnam Manufacturing PMI (Purchasing Managers’ Index) in January, 2013, which showed that Vietnam’s economy is recovering despite many difficulties in the coming time.

The index rose to 50.1 in January, up from 49.3 in December, 2012, meaning manufacturing production increased for the third successive month. Companies benefited from a slight increase in new orders from the domestic market. (more…)

Expert Opinion: Possibility Iraq is creating more than an international free economic zone in the triangle of FAO

Posted: May 25, 2012 in Iraqi Dinar/Politics
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Date: Friday, 25-05-2012 12: 40 pm

Basra (News) …Expert stressed the possibility passes Tawfiq al-Manea, Iraq creating more than an international free economic zone on its way to investment, noting that FAO would be best triangle area because it will change the map of trade in all countries of the world. (more…)

WTO to organize seminar on exchange rates and trade

Posted: November 25, 2011 in Iraqi Dinar/Politics
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The Working Group on Trade, Debt and Finance will organize in Geneva a seminar at the end of the first quarter of 2012 on the economics of the relationship between exchange rates and trade – especially the impact of the one on the other, said Working Group Chair Martin Glass of Hong Kong, China. He said that the issue of existing WTO rules and currencies will not be taken up at this seminar.

The two-day seminar will have four sessions dealing with the different dimensions of the topic, with participation from the private sector, governments, international agencies and academia. (more…)

​US Dept of Treasury – Office of Foreign Assets Control: Recent Actions 9-1-2011

Posted: September 1, 2011 in Iraqi Dinar/Politics
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Recent OFAC Actions

9/1/2011

​OFFICE OF FOREIGN ASSETS CONTROL

Specially Designated Nationals List Update
9/1/2011
As part of its enforcement efforts, OFAC publishes a list of individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries. It also lists individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific. Collectively, such individuals and companies are called “Specially Designated Nationals” or “SDNs.” Their assets are blocked and U.S. persons are generally prohibited from dealing with them. LINK

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Korean Won Weakens as Insurers Told to Prepare for a Crisis; Bonds Gain

Posted: August 21, 2011 in Asian Currency Markets
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South Korea’s won fell, capping its fourth weekly loss, after the financial regulator urged insurers to boost capital in preparation for a potential crisis and signs the U.S. economy is slowing dimmed the outlook for exports. Government bonds rose for the first time in four days.

The won led declines in regional currencies today as Financial Supervisory Service Governor Kwon Hyouk Se asked chief executives of insurance companies to be cautious in paying dividends. U.S. reports showed consumer confidence is the weakest since March 2009, existing home sales unexpectedly dropped in July and jobless claims rose more than economists forecast last week.

Read More:  http://www.bloomberg.com/news/2011-08-19/korean-won-weakens-as-insurers-told-to-prepare-for-a-crisis-bonds-gain.html

Asian Currencies Fall, Led by India’s Rupee, on Global Economic Slowdown

Posted: August 21, 2011 in Asian Currency Markets
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Asian currencies fell this week, led India’s rupee and South Korea’s won, as U.S. data added to signs the global economic recovery is losing steam and Europe’s worsening debt crisis bolstered demand for dollars.

Asia Pacific stocks slumped for a fourth week as investors favored safer bets than emerging-market assets. U.S. reports published on Aug. 18 showed consumer confidence is the weakest since March 2009, existing home sales dropped in July and jobless claims rose more than economists forecast. Taiwan released second-quarter gross domestic product data on Aug. 18, joining China, South Korea, Hong Kong, Malaysia and Singapore in reporting the slowest expansions since 2009.

Read More: http://www.bloomberg.com/news/2011-08-19/asia-currencies-fall-this-week-led-by-rupee-on-slowdown-signs.html

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Bloomberg: China’s Yuan Policy ‘Probably Tilting’ on U.S. Debt Woes: Chart of the Day

Posted: August 9, 2011 in Asian Currency Markets, US Economy
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U.S. debt turmoil may be “tilting” China toward letting the yuan move less in synch with the dollar, which would reduce central bank intervention and slow the growth of foreign reserves, according to Societe Generale SA.

The CHART OF THE DAY shows the People’s Bank of China yuan fixing rate and the U.S. Dollar Index, which tracks the greenback against a basket of currencies of the U.S.’s major trading partners. The relationship between the two “weakened” in the past several months as the debate in Washington about the debt ceiling heated up, said Yao Wei, an economist in Hong Kong at Societe Generale.

Read More: http://www.bloomberg.com/news/2011-08-08/china-s-yuan-policy-probably-tilting-on-u-s-debt-woes-chart-of-the-day.html

Hong Kong under pressure to end U.S. dollar peg

Posted: August 4, 2011 in Asian Currency Markets, US Economy
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SYDNEY (MarketWatch) — Hong Kong has no plans to de-peg its currency from the U.S. dollar, the city’s finance minister said, but strategists believe the current pairing is outdated and decoupling is only a matter of time.

The depreciation of the U.S. unit is one factor contributing to mounting support to adjust the Hong Kong dollar’s 28-year currency peg. The city is battling high inflation on the back of the dwindling greenback.

But despite the heat, lawmakers have ruled out a shift away from the dollar for now.

Read More: http://www.marketwatch.com/story/hong-kong-under-pressure-to-end-us-dollar-peg-2011-08-03?reflink=MW_news_stmp

Asia’s Accelerating Inflation Bolsters Case for Higher Rates, Currencies

Posted: February 23, 2011 in Asian Currency Markets
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VietFinanceNews.com – Accelerating inflation in Asian economies from Singapore to Vietnam is bolstering the case for further monetary tightening by central banks around the region.

Singapore’s inflation rate rose to a two-year high of 5.5 percent in January, while prices in Malaysia climbed at the fastest pace since mid-2009, reports today showed. Vietnam’s consumer prices gained the most in 24 months in February.

Asian currencies rose from a one-week low today on speculation central banks will raise interest rates as surging oil prices threaten to fuel inflation. China, India, Indonesia, South Korea, Thailand and Vietnam all increased borrowing costs this year, widening the gap with the U.S. Federal Reserve’s near-zero benchmark rate, as Asia leads a global recovery.

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Vietnam devaluation offers reminder for China

Posted: February 13, 2011 in Asian Currency Markets
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VietFinanceNews.com – An investment theme that is getting aired more frequently this year is to favor developed markets over emerging markets. Did BRICs really fall out of favor so quickly?

It appears so, with brokerage CLSA going as far as to describe this as the consensus trade in a recent strategy note.

You can take your pick of a lengthy list of ills facing the global economy, but for now, ballooning inflation and growth numbers are deemed more troubling than possible sovereign-debt defaults in sluggish developed markets.

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Asia moves up a gear in fighting inflation

Posted: February 10, 2011 in Asian Currency Markets
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VietFinanceNews.com – If South Korea raises interest rates on Friday, three of Asia’s biggest economies will have tightened policy within a week, challenging the assumption that central banks lack the stomach to combat inflation.

Indeed, with markets pricing in further increases across Asia to anchor inflation expectations, some economists are raising the tantalizing prospect that price pressures could peak before long, barring new weather disruptions to food supplies.

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Korean won exchange rate to hover at 1,093 to US dollar

Posted: February 3, 2011 in Asian Currency Markets
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The average exchange rate of the Korean won is expected to hover at 1,093 won to the U.S. dollar ($0.0009) this year, a report by a state-run think tank showed Wednesday.

The Korea Development Institute (KDI) report said that the local currency should gain in value vis-a-vis the greenback on the strength of such developments as steady economic growth and favorable trade balance.

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Vietnam: New hopes for foreign portfolio investment in 2011

Posted: February 3, 2011 in Asian Currency Markets
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It is predicted that in 2011, there will be a greater flow of foreign portfolio investment  in Vietnam

Louis Nguyen, Chair and Chief Executive Officer of SAM, a fund management company, relates that in 2010, foreign investors said that their biggest worry was the depreciation of the Vietnam dong, while, to invest in Vietnam they have to convert the dollars or euros into Vietnam dong. Besides, the high inflation and the lackluster of the stock market were also factors that made them choose to inject the money in other markets, such as Indonesia, Taiwan, Malaysia or Singapore.

The hope coming from Asia

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