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  • LONDON, Jan 16- Gold edged down on a modestly higher dollar on Friday, but looked set to post its best week in 10 months, as investors sought safety from volatility in equity and currency markets after Switzerland unexpectedly abandoned a cap on the franc. The metal had posted its biggest daily gain in six weeks on Thursday, up 2.6 percent, hitting a four-month high of...

  • Pedestrians walk near the Swiss National Bank headquarters in Bern, Switzerland.

    Shanghai shares outperformed the region on Friday, as the rest of Asia languished on heightened volatility induced by the Swiss National Bank.

  • BEIJING, Jan 16- China stocks were mixed on Friday as financial and manufacturing shares lifted mainland markets while the Hong Kong bourse sank on information technology, finance and property losses. Shenzhen's Nasdaq-like ChiNext board- home to many IT and small cap companies- posted stronger gains than Shanghai, climbing 2.41 percent in morning trading.

  • SINGAPORE, Jan 16- Gold traded near its highest level in four months on Friday and looked set to post its best week in ten months, as investors sought safety from market volatility after Switzerland unexpectedly scrapped a cap on the franc. "Gold looks like the flavor of the month at the moment and has now pushed above some key downward trend lines against the dollar,"...

  • Kaisa Group last week failed to pay coupons for its dollar bond maturing in 2020, after government officials blocked sales of some of its projects in Shenzhen and several executives unexpectedly exited. Kaisa woes have frozen high-yield bond issuance from Chinese companies in the offshore market, where about $3.9 billion worth of G3 and dim sum bonds from...

  • China's yuan shifts into currency major league Wednesday, 14 Jan 2015 | 7:24 AM ET

    Offshore trading in the yuan, whose convertibility is still tightly controlled by Beijing, soared some 350 percent on Thomson Reuters trading platforms in 2014.. The system of controls kept in place by Beijing, including separate markets offshore and onshore, continues to limit action, but bankers in London say the currency is steadily moving to the front of...

  • SHENZHEN, Jan 14- As creditors circle troubled Chinese property developer Kaisa Group, it's business as usual at the company's sales office and housing projects in the southern city of Shenzhen. In a northern suburb, construction workers in yellow hats at the Kaisa City Plaza development could be seen renovating flats on Tuesday, while agents at the firm's...

  • Shenzen-based Kaisa said on Monday it had missed interest payments to investors in its offshore dollar bonds, that many of its bank accounts had been frozen and that a mainland China court had frozen more than $100 million of assets of one of its units. Kaisa's founder and chairman left the company in December, triggering an acceleration of repayment of a loan...

  • NEW YORK, Jan 13- Citigroup Inc has been quietly scaling back its consumer banking presence in some of the world's major cities, pulling out from markets where it does not have enough branches to be competitive. In 2014 Citi retail executives went from targeting 120 of "the world's top 150 cities" to homing in on 100 cities where the company has the greatest scale and...

  • *Kaisa missed bond coupon payment last week. HONG KONG, Jan 13- Bonds issued by Kaisa Group rose sharply on Tuesday after the embattled Chinese property developer said it had received a waiver from HSBC Holdings on a loan it failed to repay late last month. Kaisa, which is struggling with the sudden departure of senior executives, government officials blocking...

  • BEIJING, Jan 13- China imported a record 7.15 million barrels of crude oil a day in December, customs data showed on Tuesday, as the world's second largest oil consumer took advantage of low oil prices to fill its strategic reserves. China imported 30.37 million tonnes of crude oil for the month, the data showed, just shy of earlier estimates by Thomson Reuters Oil...

  • *Kaisa missed bond coupon payment last week. HONG KONG, Jan 13- Bonds issued by Kaisa Group rose sharply on Tuesday after the embattled Chinese property developer said it had received a waiver from HSBC Holdings on a loan it failed to repay late last month. Kaisa, which has been struggling with the departure of senior executives, government officials blocking...

  • BUENOS AIRES, Jan 12- Argentina said on Monday it was suspending HSBC Bank Argentina's right to transfer money abroad for 30 days due to "irregularities", two months after charging it with helping clients evade taxes by siphoning their funds off to Switzerland. "The central bank of Argentina has decided to temporarily suspend HSBC Bank Argentina's operations of...

  • Controversial HK media tycoon's home firebombed Monday, 12 Jan 2015 | 1:12 AM ET

    The home and former offices of Jimmy Lai, a critic of Beijing who played a prominent role in pro-democracy protests last month, was firebombed.

  • *Gold extends gains to second session in a row. SINGAPORE, Jan 12- Gold rose on Monday to its highest level in a month because of weakness in the dollar plus a further decline in oil prices, which sparked safe-haven bids for the precious metal. "Normally, lower oil prices are a negative for gold, but prolonged oil price declines may be fanning concerns that further...

  • Lower oil isn’t giving Asia markets wings Sunday, 11 Jan 2015 | 10:17 PM ET
    A station attendant refuels a moped at a fuel station on April 30, 2013 in Yogyakarta, Indonesia.

    Sharply lower oil prices are widely hailed as a positive for most Asian markets, but that hasn't slowed fund outflows or raised growth forecasts much.

  • LONDON, Jan 9- The dollar eased away from nine-year highs on Friday as investors trimmed long positions in the greenback ahead of U.S. jobs data that could cement the case for a Federal Reserve interest rate hike in the next six months. That would highlight the divergence of growth and monetary policy prospects between the United States and the euro zone, where...

  • Li's two largest listed companies are Cheung Kong and Hutchison Whampoa, which both run a wide range of businesses. As on Jan. 7, Cheung Kong, which owns just under half of Hutchison Whampoa, traded at a 23 percent discount, or about HK $87 billion, to its book value at the end of June 2014, the statement said. "The issue of holding company discount has puzzled us for a long...

  • The payment was due on midnight Hong Kong time on Thursday, but traders said Kaisa had a 30- day grace period to resolve the situation. Failure to pay the coupon on Kaisa's 2020 bond could trigger the first dollar bond default by a Chinese property issuer. Shenzhen- based Kaisa has declined to comment on its debt issues.

  • NEW DELHI, Jan 9- A weak recovery from India's longest growth slowdown in decades is pushing Prime Minister Narendra Modi's advisers to consider loosening fiscal deficit targets, risking the ire of investors, ratings agencies and the central bank. Yet with debt service devouring 42 percent of federal spending, higher deficits would revive risks of a ratings...