Hong Kong banks' yuan strategy looks bad for earnings The Times Of India Reuters Breakingviews | HONG KONG: Taking yuan deposits has proved more a drag than boost for Hong Kong's banks. Deposits in the Chinese currency have grown to about $100 billion from almost nothing two years ago, since the rules on China's currency were relaxed. But lenders barely make any money on...
Yuan Hits Record After Weeks of Volatility Wall Street Journal By LINGLING WEI | BEIJING—Traders pushed the yuan to a new high Monday, capping a period of relatively volatile trading that analysts say could further the Chinese government's effort to encourage two-way swings—and make the currency less of a sure bet for speculative foreign-capital inf...
Thai central bank cuts GDP forecast as floods hit industry KDVR | BANGKOK (Reuters) - Thailand's central bank slashed its 2011 economic growth forecast to 2.6 percent from 4.1 percent on Friday because of flooding and said it was ready to call a special meeting on interest rates, raising speculation about a rate cut. | It faces a dilemma over rates because it expects inflation to remain high next year, forecast...
FTSE falls back on uncertainty over EFSF details Citywire | Markets across Europe slipped following Thursday’s renewed optimism about the eurozone deal as investors awaited more news on how the EFSF will be supported. | The UK index of blue-chip shares shed 0.12%, or six points, to 5,707, and the Mid-250 index dropped 0.31%, or 34 points, to 10,699. | Today the head of the European Financial Stabil...
