china-foreign
Exiled tycoon Mallya: India wrong to sequester some assets in graft case
June 12, 2016 by creative · Leave a Comment
Exiled tycoon Vijay Mallya said on Sunday that Indian authorities trying to recover about $1.4 billion from his collapsed Kingfisher Airlines had no legal grounds for sequestering certain assets in a money laundering case. The Enforcement Directorate (ED) tweeted on Saturday that it had “attached” properties worth 14.11 billion Indian rupees ($210.78 million) in the case involving a loan from state-owned IDBI Bank
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Exiled tycoon Mallya: India wrong to sequester some assets in graft case
china-foreign
China’s yuan trade system to open branches in London, New York
June 12, 2016 by publisher · Leave a Comment
China's state-owned currency marketplace said on Sunday it was preparing to open branches in London and New York as part of efforts to promote the yuan's global status. The China Foreign Exchange Trade System (CFETS), a subsidiary of China's central bank, said in a statement that by expanding its network offshore, it aims to serve more overseas institutions and become a “main trading platform and pricing center” for the yuan globally. China has been gradually loosening its capital controls to allow …
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China’s yuan trade system to open branches in London, New York