SINCE January 2007, one Hong Kong dollar has been worth less than one yuan. According to Joseph Yam, a former head of the Hong Kong Monetary Authority, that matters to Hong Kongers visiting mainland China. In a paper published this month, he described the “sense of despair” felt by some of his Hong Kong friends when their currency slipped below par

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THE Federal Reserve cannot be accused of sitting on its hands. On June 20th it announced its seventh instalment of unconventional monetary policy since running out of orthodox ammunition in late 2008, when short-term interest rates fell, in effect, to zero. In its latest salvo, the Fed said it would purchase $267 billion of long-term bonds by the

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Demand for office space in Madrid dropped in the first quarter of 2012, while rents are also declining in the city.

According to the latest Savills Market Report on Madrid offices, take-up dropped by 20 per cent in the three months from January to March, compared to the same period in 2011.

The firm predicted rental falls, which have mostly been...

IN 2008 and 2009, policymakers impressed markets with decisive action. Central banks moved swiftly to slash interest rates and extend liquidity, beefing up balance-sheets in the process (see chart). Governments launched big stimulus programmes. The G20 meetings were a signal of a concerted determination to act.

Things are different now. At this

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AMERICA’S chokehold on Iran’s oil trade is tightening. New sanctions that come into force on June 28th attempt to turn off Iran’s $95 billion-a-year oil trade, and stop the flow of funds into its nuclear programme. The way the rules work shows how controlling the dollar strengthens America’s grip. The way China has responded shows the limits of the

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Property investment in Malaysia could be affected by new solutions put forward to lower house prices in the country.

The National House Buyers Association (HBA) has come up with a number of measures following a request from the nation's finance ministry after concerns over soaring values, the Star reports.

Chang Kim Leong, secretary general of the...

MOST shop windows proudly showcase what can be bought inside. The window of the Silk Street Market, a touristy shopping centre in Beijing, is a bit different. It displays a pair of official notices advertising what cannot be bought inside. These non-offerings include luxury brands such as Prada, Louis Vuitton and Burberry. The notices are meant to

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Another notch on the prosecutor’s belt

THE US Attorney’s office for the Southern District of New York has been happily updating a scoresheet covering insider-trading cases in the aftermath of the conviction of Rajat Gupta, a former head of McKinsey & Co and an ex-board member of Goldman Sachs and Procter & Gamble. The tally now reads 69 p

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An editing error in our piece on Jed Rakoff last week ("A hot bench", June 9th) transformed the very sprightly judge into an 81-year-old. He is in fact 68. Our apologies.

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