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Stories that are tagged 'forex'

HKMA Reviews Its Progress In 2011
5/3/2012
In addition to its actions to strengthen further the risk management of banks through its supervisory actions and countercyclical measures on property mortgages, the Hong Kong Monetary Authority pointed, in its 2011 Annual Report, to its support to the further expansion of renminbi market activities in Hong Kong.
Switzerland Sticking With Exchange Rate Fix
3/30/2012
Switzerland’s Economy Minister Johann Schneider-Ammann has insisted recently that the minimum exchange rate set by the Swiss National Bank of CHF1.20 per euro must be maintained.
China Pushes Shanghai As International Financial Centre
2/2/2012
China’s National Development and Reform Commission and the Shanghai Municipal Government have disclosed that it is intended that Shanghai will be a centre for onshore renminbi trading, clearing and pricing by 2015, before it becomes an international financial centre by 2020.
Transaction Costs To Soar Under EU FTT
1/18/2012
Transaction costs in the foreign exchange markets would soar under a European financial transactions tax (FTT) and could potentially result in three quarters of taxable transactions relocating to other jurisdictions to avoid the tax, a new report has warned.
Joint HK-UK RMB Forum Launched
1/18/2012
The Hong Kong Monetary Authority and the United Kingdom Treasury have announced the launch of a joint private-sector forum to enhance cooperation between Hong Kong and London on the development of offshore renminbi business.
Italy Backs EU Financial Transactions Tax
1/16/2012
Italy, under the new leadership of Prime Minister Mario Monti, has voiced support for the introduction of taxes on European financial transactions.
Sarkozy Champions Tobin Tax Again
10/27/2011
Ahead of the G20 summit meeting in Cannes, French President Nicolas Sarkozy has called for public opinion to implore rich countries to accept the introduction of a financial transactions tax to finance development.
Opinion Divided On EU Transaction Tax
10/5/2011
Austrian Chancellor Werner Faymann has welcomed the proposal, put forward recently by European Commission President José Manuel Barroso, for a Europe-wide tax on financial transactions from 2014. However, the German banking industry association has considerable doubts, from both a legal and a practical perspective, whether an approach of this kind can succeed.
Semeta Outlines Common Rules For European FTT
10/4/2011
The European Commission has outlined common rules for the introduction of the proposed financial transactions tax.
Barroso Champions EU Tobin Tax
9/30/2011
Despite bitter opposition from the UK, European Commission President José Manuel Barroso recently gave his formal support in the European parliament in Strasbourg for the introduction of a financial transactions tax in all 27 member states.
Swiss Government Welcomes Action On Franc
9/12/2011
Switzerland’s Federal Council has welcomed the recent decision by the Swiss National Bank to set a minimum exchange rate as part of efforts to weaken the Swiss franc.
Switzerland Plans EUR2bn Business Support Package
8/23/2011
Determined to mitigate the effects of the rapid rise of the Swiss franc, to support the Swiss economy and to strengthen Switzerland as an industrial centre, the Swiss Federal Council recently announced plans to swiftly introduce a CHF2bn (EUR1.8bn) package of measures targeting affected businesses.
Tobin Tax Is 'Economic Suicide' UK Business Warns
8/22/2011
Plans for a European financial transactions tax have been slammed as reckless, unlikely to raise significant revenues and economic suicide by members of the UK's business community.
China's Five-Year Yuan Convertibility Plan Revealed
1/21/2011
In a statement, Yi Gang, Director of the State Administration of Foreign Exchange and Deputy Governor of the People's Bank of China, has disclosed that the Chinese government has a medium-term strategy for the globalisation of the Chinese currency.
India Disallows Forex Losses
4/8/2010
The Indian Central Board of Direct Taxes has issued guidelines which suggests that losses against taxable income on account of forex derivatives should be disallowed.

 

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