The Hong Kong dollar rose against the U.S. dollar for the third consecutive session Thursday due to the U.S. currency‘s weakness offshore after the U.S. Federal Open Market Committee reiterated the U.S. recovery remains weak.

In late Asian trade, the U.S. dollar was at HK$7.7866, down from HK$7.7872 late Wednesday. The U.S. currency was fixed at HK$7.7854 earlier Thursday.

Traders said major movements in the Hong Kong dollar are unlikely ahead of the upcoming Lunar New Year holiday. They added they expect the U.S. unit to trade in a HK$7.7840-HK$7.7890 range Friday.

“The weak outlook of the U.S. economy is making investors cautious. The U.S. dollar is unlikely to rebound against the Hong Kong unit in the near term,” said a trader at a local bank.

The Federal Reserve, acknowledging a slow recovery and stubbornly high unemployment, decided Wednesday to proceed with its plans to buy as much as $600 billion in long-term Treasury bonds as it awaits a stronger pickup in growth.

In a statement after its two-day meeting, the FOMC said “the economic recovery is continuing, though at a rate that has been insufficient to bring about a significant improvement in labor market conditions.”

The euro rose to a two-month high of $1.3727 around 0740 GMT.

However, a senior trader at a local bank said the Hong Kong dollar’s rise against the U.S. dollar was capped because “banks are buying the U.S. dollar on short-covering after two sessions of declines against the Hong Kong dollar.”

He added U.K. banks were buying the U.S. unit around the HK$7.7845 level, in batches of $50 million and $100 million.

The one-year U.S. dollar/Hong Kong dollar forward contract was quoted at a discount of 247 points to the spot rate, widening from a 245-point discount late Wednesday.

On January 27, LinkedIn Corporation announced that it has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of its Class A common stock, according to the company’s official blog. The number of shares to be offered and the price range for the offering have not yet been determined. A portion of the shares will be issued and sold by LinkedIn, and a portion will be sold by certain stockholders of the company. Morgan Stanley, Bank of America, Merrill Lynch and J.P. Morgan will act as the bookkeeping managers.

According to the filing, LinkedIn had $161.4 million in net revenue with $1.85 million in profit in the first nine months of 2010.

In terms of competition: “Other companies such as Facebook, Google, Microsoft and Twitter could develop competing solutions or partner with third parties to offer such products. We face competition from a number of smaller companies in international markets, such as Xing in Germany and Viadeo in France, that provide online professional networking solutions, as well as Internet companies in the customer relationship management market, such as Salesforce.com (Chatter and Jigsaw),” LinkedIn said this in the document.

When Groupon offered $25 off a $50 purchase at the Gap, some are predicting the deal is on a course to outperform the previous blockbuster daily deal. That resulted in some $13 million worth of coupons being sold.

The deal began at midnight and will run until 8 AM tomorrow. But it has already sold over $2 million worth of coupons. Gift card has no expiration date. Limit 1 per person. US customers only.

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On Christmas Day, Amazon says Kindle 3 has got the highest ammount of sell,downloads and reads.Amazon also announced that on its peak day, Nov. 29, customers ordered more than 13.7 million items worldwide across all product categories, which is a record-breaking 158 items per second. Amazon founder Jeff Bezos said that “the company is also seeing that many of the people who bought Kindles also own an LCD tablet”.

Customers are using their LCD tablets for games, movies, and web browsing and their Kindles for reading sessions. They are preferring Kindle for reading because it weighs less, eliminates battery anxiety with its month-long battery life, and has the advanced paper-like Pearl e-ink display that reduces eye-strain, doesn’t interfere with sleep patterns at bedtime, and works outside in direct sunlight, an important consideration especially for vacation reading. Kindle is only $139 and it’s low enough that people don’t have to choose.”

Also the trade lagged the market behind on Wednesday that the Consumer Services shares, down on the day by about 0.8% as a group, led down by Jackson Hewitt Tax Services , trading lower by about 8.8% and CPI , trading lower by about 7.2%.

United Commercial Bank (UCB) is an overseas Chinese bank in the United States, based in San Francisco, CA. It is a subsidiary of UCBH Holdings. Founded in 1974 as United Federal Savings and Loan Association, it changed its name to United Savings Bank, and finally United Commercial Bank in 1998. It has operations and branches located in the San Francisco Bay Area, Sacramento, Stockton, Los Angeles and Orange Counties, New York, Boston, Greater Seattle Area, Hong Kong, Atlanta, Houston, Shanghai and two representative branches in Taipei, Taiwan and Shenzhen, China.

On January 11, 2007, UCBH announced that it was acquiring The Chinese American Bank with branch locations in Manhattan, New York and Flushing, New York. The deal is expected to close in the second quarter of 2007. On March 27, 2007, it was announced that UCBH would acquire Business Development Bank.

The senior Pathans speak about their humble background and how they did all to help their sons – Yousuf & Irfan – realize their dreams despite their meagre earnings.

Irfan’s father says, “I used to earn Rs 80 working in the Masjid. I knew cricket is a rich man’s game but I didn’t really care since if my sons wanted to play it, I’d bear difficulties but ensured that they would play the game. They used to play in the Masjid lanes and people would complain saying, “What’s this nonsense? It’s namaz time and these Pathans have made a cricket ground here!”

Their mother says, “I asked them to play at home using the ‘dhoka’ (colloquial term for a wooden bat used to wash clothes) as a bat. Once they broke a glass pane so we put them in the club to play.”

Irfan’s father says, “Thankfully, Irfan was selected in the under 15 team and the very same people who use to complain about them, came with flower garlands!”

Irfan is very excited to reveal an incident that happened with his mother. “Earlier, all the mails from females used to come for me. Once, I noticed my mother was unusually happy, cooking and smiling away. So I asked her the reason for her happiness.”

“Mummy started reading a letter and said, ‘Dekh aaj tak tere liye letter aate the, aaj tere bade bhai ke liye bhi letter aaye hain!’ Toh mummy badi khush thi.”

While Irfan is the talkative one, it’s also revealed that it’s actually Yousuf who was the naughty one among the two brothers. From making Irfan drive the cycle for long distances as they went for cricket practice to giving Irfan only 15 minutes to bat if they played for two hours.

On making young Irfan cycle for hours to and fro from their cricket practice, Yousuf says, “I made him do it since he was a fast bowler, he had to do some hard work, had to strengthen his legs so that he could run fast!”

On the other hand, Irfan was also responsible for Yousuf hurting his finger and losing his teeth!

Irfaan comments, “Family support is very important. All speak about my father who undoubtedly supported us but it was my mother who always gave us moral support. Our family always stood by us no matter what!”

Yrfan and Yusuf pathan with Farah Khan in the interview