| HSBC, Citigroup Incorporate in China for Yuan Service (Update1)
April 2 (Bloomberg) -- HSBC Holdings Plc and Citigroup Inc. became locally incorporated in China, paving the way for them to offer local-currency services and take a bigger slice of the nation's $2 trillion of household savings. Standard Chartered Plc. and Bank of East Asia Ltd. also completed local incorporation. The four are the largest overseas banks in China and have more than 90 outlets there between them. They need approvals from the banking regulator to begin yuan- denominated services. Foreign banks must incorporate in China to offer yuan-based bank cards and mass-market services, according to rules that took effect in December. The government is giving overseas financial institutions greater access as part of a deal it struck when joining the World Trade Organization five years ago.
Royal Forex Trading Announces Launch of New Dynamic Website ...
Leading online currency trading company, Royal Forex Trading, LLC is pleased to announce the re-launch of their website with many new features making online currency trading even easier for both new and existing clients. Boca Raton, FL (PRWeb) April 3, 2007 -- Royal Forex Trading, LLC (RFXT) provides an online trading platform for individuals and institutions that want to speculate on the exchange rate between two currencies. In doing so, traders buy and sell currencies with the hope of making a profit when the value of the currencies changes in their favor. RFXT is hoping to give new and existing clients an even better currency trading experience with a re-launch of their website. One of the most interesting additions to the new website is the ability for clients to download RFXT's new foreign exchange software program, called MetaTrader and Mobile Trader 4 (to be used with PDA, and other small screen mobile devices.) Clients can use the foreign exchange software for excellent, above and beyond regular standards in execution.
Zimbabwe: Ministry to Draft Land Ownership Law
The Ministry of Indigenisation and Empowerment will soon be drafting a law that restricts ownership of commercial and industrial land by foreign nationals to protect indigenous business people from unfair competition, a Cabinet minister said on Wednesday. Indigenisation and Empowerment Minister Mr Paul Mangwana told New Ziana that the idea emerged on Tuesday during a meeting with economic empowerment groups to discuss challenges being experienced in implementing empowerment policies in the country. .
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