This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-29405480
The article has changed 3 times. There is an RSS feed of changes available.
Version 0 | Version 1 |
---|---|
Banks shut branches over Hong Kong protests | Banks shut branches over Hong Kong protests |
(35 minutes later) | |
Standard Chartered and several other banks have suspended some of their operations in central Hong Kong following mass pro-democracy protests. | Standard Chartered and several other banks have suspended some of their operations in central Hong Kong following mass pro-democracy protests. |
Bank branches that offer over-the-counter services have been closed, as well as ATMs and cash deposit machines in affected areas. | Bank branches that offer over-the-counter services have been closed, as well as ATMs and cash deposit machines in affected areas. |
Some firms have also advised their staff to work from home or go to secondary offices. | Some firms have also advised their staff to work from home or go to secondary offices. |
Thousands of demonstrators clashed with police, who fired tear gas, on Sunday. | Thousands of demonstrators clashed with police, who fired tear gas, on Sunday. |
In a statement, British bank Standard Chartered said it had activated contingency plans to ensure continuous services to customers. | In a statement, British bank Standard Chartered said it had activated contingency plans to ensure continuous services to customers. |
Bank of China said it had suspended operations at some branches because of the "unusual situation" in parts of Hong Kong. | Bank of China said it had suspended operations at some branches because of the "unusual situation" in parts of Hong Kong. |
Singapore's biggest bank, DBS, also temporarily shuttered its branch in the Admiralty neighbourhood. | Singapore's biggest bank, DBS, also temporarily shuttered its branch in the Admiralty neighbourhood. |
Hong Kong's de-facto central bank said 29 bank branches, offices or ATMs of 17 banks in the territory will be temporarily closed because of the protests. | |
The Hong Kong Monetary Authority (HKMA) said "affected banks have activated their business continuity plans this morning to maintain the normal operations of the core functions of the banking system". | |
"The HKMA will also inject liquidity into the banking system as and when necessary under the established mechanism," it added in a statement. | |
Over the weekend, thousands of protestors blocked large parts of the city to pressure the Chinese government into granting full democratic powers to the former British colony. | Over the weekend, thousands of protestors blocked large parts of the city to pressure the Chinese government into granting full democratic powers to the former British colony. |
The demonstrators were spread across three of Hong Kong's most important commercial neighbourhoods and in front of government buildings. | |
Police fired several rounds of tear gas at the crowds, but the protestors continued to rally, with many staying on and sleeping in the streets. | Police fired several rounds of tear gas at the crowds, but the protestors continued to rally, with many staying on and sleeping in the streets. |
Many of the protestors are university students who have boycotted classes since last week to hold pro-democracy rallies. | |
The political unrest in Hong Kong is the worst the city has seen since China took back control of the territory from the British two decades ago. |