Indian Government to Allow Foreign Investment in Supermarkets, Aviation
The Indian government will allow foreign supermarkets into the Indian retail sector, let foreign airlines invest in Indian aviation, and intends to privatize four state-run companies…
China Relaxing Foreign Exchange Controls, Tightening Scrutiny on Tax, Practitioners Say
Chinese authorities are stepping up scrutiny of cross-border transactions as they relax controls on foreign exchange, practitioners from Deloitte said in an Aug. 16 webcast broadcast from China…
ANALYSIS: U.S. Federal Reserve Opens the Door to Increased Chinese Investment in U.S. Banking Organizations
June 13, 2012 by GlobalLaw
Filed under Financial Services
On May 9, 2012, the Federal Reserve Board released three orders approving investments in the U.S. banking market by entities based in China…
International Banking Group Cites Growing Use of Chinese Currency in Settlement, Trade
GENEVA—The Chinese currency, the renminbi (RMB), is increasingly being used as the money of choice for settling payments between China and its trading and investment partners, boosting Beijing’s efforts to promote the RMB as an international reserve currency, according to a global financial industry group.
In First, U.S. Federal Reserve Allows Chinese Banks To Acquire U.S. Banks
May 21, 2012 by GlobalLaw
Filed under Financial Services
The Federal Reserve’s governors voted unanimously to expand China’s banking access on U.S. territory, including for the first time allowing Chinese buyouts of U.S. banks, according to an approval announced May 9.
New United Arab Emirates Law Governing Companies May Lead to Greater Foreign Ownership
The UAEs’ Cabinet Dec. 4 approved the first major reforms of corporate rules in 27 years, including possible foreign ownership provisions, as the Gulf state seeks to attract more outside investment to help diversify its economy…
India Yields to Protests, Suspends Move To Permit 51% Foreign Stake in Multi-Brand Retail
The Indian government has suspended its Nov. 24 decision to allow 51 percent direct foreign investment in multi-brand retail—a measure that was meant to showcase the government’s determination to push through reforms but has now achieved the opposite effect…
India to Allow 51 Percent Direct Foreign Investment in Multi-Brand Retail Sector
After years of deliberation, the Indian government Nov. 24 agreed to allow 51 percent foreign direct investment in multi-brand retail, opening the doors for retail companies such as Walmart, Tesco and Carrefour to enter the country’s $450 billion retail sector, currently dominated by small family run-shops…
Fear of Corruption Dissuades Overseas Investment, Due Diligence Lacking, Kroll Says
Fear of fraud is dissuading many companies from doing business in at least one foreign country, according to survey results from Kroll’s fifth annual Global Fraud Report…
India Forging Law to Curb Corruption in Government Contracts
The Indian government is considering a public procurement bill to curb corruption in government contracts, including public private partnerships, in the wake of a series of image-tarnishing corruption scandals…