Malawi Faces Shortages of Foreign Exchange Currency

Dayana Jones

Blanyre, Malawi —  Malawi is facing acute shortages of foreign exchange currency, forcing two international airlines to suspend some of their services in the country. The situation has negatively affected the operations of many more local and international cross-border businesses. The latest monetary policy report by the Reserve Bank of […]

OFX Completes C$90m Acquisition of Canadian Corporate Foreign Exchange Business Firma Foreign Exchange Corporation (Firma)

Dayana Jones

SYDNEY–(BUSINESS WIRE)–OFX Group Limited (OFX) today announced it has completed its acquisition of Firma Foreign Exchange Corporation (Firma) for a total consideration of C$90m (A$98m). The transaction expands OFX’s capability and presence as a global foreign exchange and payments provider. OFX Chief Executive Officer and Managing Director, Skander Malcolm said: […]

Military-led Myanmar seeks to reassure foreign investors

Dayana Jones

BANGKOK (AP) — Myanmar officials sought Thursday to counter worries over sanctions, energy shortages and currency controls that are adding to the military-led government’s challenges in managing the economy. Two ministers of Myanmar’s army-installed government said in an online briefing that approved foreign investors, embassies, United Nations agencies and non-government […]

Myanmar exempts foreign businesses, NGOs from forex rules

Dayana Jones

BANGKOK >> Myanmar is exempting approved foreign investors, embassies, United Nations agencies and non-government organizations from its rules requiring conversion of foreign exchange into the local currency, officials said Thursday. Aung Naing Oo, the army-installed government’s minister for Investment and Foreign Economic Relations, said Thursday in an online briefing that […]

China’s Foreign Investment Law and Updated Investment Negative List: New Opportunities for Foreign Investment in China | Womble Bond Dickinson

Dayana Jones

On December 27, 2021, China’s National Development and Reform Commission (NDRC) and the Ministry of Commerce (MOFCOM) published an updated Negative List for foreign investment in China (the “2021 Negative List”).  The 2021 Negative List reduces the number of restricted or prohibited sectors from 33 to 31 and allows foreign […]