Capital Markets | Renminbi
The renminbi dropped a position in October, going from fourth to fifth, in terms of its use as a currency for international payments, according to the latest SWIFT Renminbi Tracker report.
Asia’s emerging economies fight to diversify from China and the US.
Trends | Taxation
Brazil is well known in the global business sector for its tax complexity, heavy tax burden (around 35% of GDP) and high use of technology for tax collection. Not for nothing do Brazilians call their tax authority—Receita Federal do Brasil—“the Lion.”
Capital Markets | Banking Licenses
Saudi Arabia cracked open the door to direct investments in its stock market by qualified foreign institutions in June, when HSBC became the first foreign firm to receive a license.
India seems to be on course with economic reforms under the leadership of prime minister Narendra Modi, achieving a significant landmark as it moved ahead of the US and China in the foreign direct investment (FDI) sweepstakes.
As the renminbi gains international acceptance, Chinese firms look further afield for growth.