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GCC close to meeting monetary union plan
At the end of 2009, all GCC countries, with the exception of UAE and Oman which disengaged from the plan, were within the fiscal convergence criteria needed for the regional monetary union, the Washington-based Institute of International Finance (IIF) said.
Malaysia can become a gateway for Emirati investors, Deputy Governor Bank Negara Malaysia
Dato’ Mohd Razif Deputy Governor of Bank Negara Malaysia (BNM) said that Malaysia has ample investment opportunities in various fields and can become a gateway for Emirati investors to access Asian Markets, expressing his resolve to open joint ventures between Malaysia and United Arab Emirates to enhance economic and trade ties between them.
Malaysia To Include Islamic Banking In FTA Talks With GCC
Malaysia, which is currently in the midst of negotiating a free trade agreement (FTA) with the Gulf Cooperation Council (GCC), will look at several sectors including Islamic banking to be included in the FTA.
The changing landscape of export credit agencies in the context of the global financial crisis
New study by Kavaljit Singh on the structure and role of export credit agencies, an integral part of trade finance and investment relations
Rural banks decry ASEAN free trade pact
The Rural Bankers Association of the Philippines says its sector will suffer greatly as tariffs on farm goods fall in line with the implementation of the ASEAN FTA.
Taiwan won’t let China acquire local financial firms
Taiwan won’t allow Chinese banks to acquire local financial institutions when it signs an economic cooperation agreement with the mainland, Premier Wu Den-yih said.
Review of trade policies of India’s major trading partners
A review of market access barriers faced by Indian exporters in its major trading partners and other select countries, 24 in all.
Opposition lawmakers may stall Canada-Panama free trade accord
The free trade agreement between Canada and Panama signed Aug. 11 may be stalled or even defeated in Canada’s Parliament unless Prime Minister Stephen Harper can convince at least one opposition party to overcome concerns about Panama’s tax policies.
Panama wrong choice for Obama’s first trade deal
This trade deal — largely based on the North American Free Trade Agreement model — was written by and for multinational companies. It enables companies to increase their profits while skipping town on taxes.
China to offer more concessions to Hong Kong companies
Under new supplements to their Closer Economic Partnership Agreement, China will further open banking and securities services to Hong Kong companies
Panama’s president-elect to push US trade deal
Finalizing a free-trade deal with the United States is a major goal for Panamanian President-elect Ricardo Martinelli, but the supermarket tycoon rejects US accusations that the country is a tax haven.
New report: Panama FTA would undermine US efforts to stop offshore tax-haven abuse and regulate risky financial conduct
The trade deal would leave tax shelters for AIG and narcotraffickers intact while removing existing US tools to combat tax evasion and other financial crimes
Reciprocal terms missing in the proposed India-EU pact
Unlike other bilateral agreements, the potential implications of India-EU FTA would be far-reaching since nine EU-based banks together controlled 65% of total assets of foreign banks in India in 2008. By asset size, out of the top 10 foreign banks in India, six are European.
Panama-AIG outrage on all fronts
Anger is brimming over in diverse corridors over the Bush hangover agreement with Panama, and the new rights it would give to AIG-linked bodies in Panama to sue US taxpayers.
AIG suing taxpayers for its own Panama tax dodging
Under the Panama FTA, AIG-Panama would be able to sue the US taxpayer for cash damages by claiming common regulatory actions were "tantamount" to an ("indirect") "expropriation."
Taking the credit - how financial services liberalisation fails the poor
The report looks at how financial services liberalisation, and especially the entry and ongoing presence of foreign banks in the global south, as promoted at the World Trade Organisation and through European bilateral trade deals, leads to the prioritisation of richer customers and larger companies resulting in poorer customers losing out.
TWN preliminary report on FTA/WTO and financial crisis
A new TWN report finds that North-South free trade agreements, bilateral investment treaties and World Trade Organization commitments often contain a number of provisions that can increase the likelihood of a financial crisis and make it more difficult to take the necessary measures to deal with one once it occurs.
India-EU free trade agreement: Should India open up banking sector?
This report questions the much-touted benefits of opening up banking sector under the India-EU FTA. Are big European banks going to augment the reach of the banking system to millions of Indians citizens who have no access to basic banking services? What specialization and experience do European banks have when it comes to providing basic banking services to landless rural workers and urban poor dwellers? Will the India-EU FTA reduce the domestic regulatory space?
Brussels pushing finance deregulation in third world
While EU and other global leaders have talked tough about re-regulating the financial sector in the wake of the economic crisis, they remain committed to pushing through banking deregulation in the developing world via trade deals.
In the United States, 350 civil groups oppose FTA
Around 350 US national, state and local groups from religious to environmental sectors, representing a combined total membership of 18 million, sent a letter to the House of Representatives asking lawmakers not to ratify the free trade agreement between Panama and the United States, insisting that Panama’s economy thrives on banking secrecy and money laundering