CHICAGO–(BUSINESS WIRE)–Northern Trust today announced the appointments of John Turney as Global Head of Front Office Solutions and Marisa Kurk as Head of Global Foreign Exchange (GFX). Turney, who has led GFX since 2018, takes the helm of the innovative and growing Front Office Solutions business as it expands to […]
foreign
Malawi Faces Shortages of Foreign Exchange Currency
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 […]
10 African countries with the largest foreign exchange reserves
Just yesterday, President Yoweri Museveni of Uganda stressed that his government cannot afford to subsidise imports of essential foods and commodities, because doing so would be disastrous to his country’s paltry $4.5 billion foreign reserves. Other African countries have also taken steps to protect their foreign exchange reserves. In a […]
OFX Completes C$90m Acquisition of Canadian Corporate Foreign Exchange Business Firma Foreign Exchange Corporation (Firma)
.jpg){kind=logo}
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: […]
‘India builds up forex reserves as China, others eye foreign assets’
With countries led by China focussing on accumulating assets abroad rather than boosting foreign exchange (forex) reserves, global forex reserves as a share of GDP have fallen from 15.4 per cent of GDP to below 14 per cent in the last six years, says a research report from Credit Suisse. […]
Military-led Myanmar seeks to reassure foreign investors
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
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 […]
Russia relaxes rules on foreign exchange buying as rouble rallies
/cloudfront-us-east-2.images.arcpublishing.com/reuters/UBYXIFQT35KELNGJW32JDYT7YY.jpg)
A view shows Russian rouble coins in this illustration picture taken March 25, 2021. REUTERS/Maxim Shemetov/Illustration Register now for FREE unlimited access to Reuters.com Register April 8 (Reuters) – Russia will relax temporary capital control measures aimed at limiting a drop in the rouble by allowing individuals to buy cash […]
Foreign businesses protest Myanmar foreign currency rules
BANGKOK (AP) — Foreign business groups in Myanmar have raised concerns about new rules requiring businesses and individuals to convert all foreign currency held in bank accounts into the local currency. A statement issued Friday by the American Chamber of Commerce and British, French, Australian chambers and similar groups says […]
China’s Foreign Investment Law and Updated Investment Negative List: New Opportunities for Foreign Investment in China | Womble Bond Dickinson
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 […]