Ethiopia Considers Allowing Foreigners to Buy Stakes in Domestic Banks
June 14, 2024

After 30 years of barring foreigners from its banking sector, Ethiopia is reportedly considering allowing overseas banks to buy stakes in domestic lenders. A bill moving through the country’s legislature would allow overseas firms to buy stakes in domestic banks, set up subsidiaries, open branches,...

Foreign Card Use Brings US Dollars Back to Venezuela
June 13, 2024

Foreign credit card transactions are reportedly bringing more foreign currency into inflation-plagued Venezuela. That’s according to a report Thursday (June 13) by Reuters, citing four public sector and finance sources who said these transactions have been growing steadily since the government loosened currency controls five years ago,...

City of London Seeks to Boost Competitiveness, Foreign Investment
May 22, 2024

The City of London, the administrator of the financial district of the United Kingdom, is reportedly grappling with concerns about the district’s competitiveness and the need for foreign investment. The city’s policy leader, Chris Hayward, emphasized the importance of attracting foreign investment to boost growth and enhance...

Chinese Users Report WhatsApp Working Despite Country’s Ban
May 09, 2024

WhatsApp is reportedly working in China despite a years-long ban on this and other foreign messaging and social media platforms. Users of the Meta-owned messaging platform in the country said they have been able to send and receive messages without using the workarounds they normally have to employ, although it is...

Report: Middlemen Handle 50% of Russia’s Payments to China
April 28, 2024

Sanctions on payments between China and Russia have reportedly created a thriving market for middlemen. In fact, half of all payments by Russian companies for Chinese products are now handled by intermediaries, Reuters reported Friday (April 26), citing four sources. As the report noted, the...

EU Leaders Seek Reforms to Attract Private Capital
April 09, 2024

European Union (EU) leaders reportedly aim to harmonize the member nations’ bankruptcy and corporate tax laws. The leaders will call for this and other changes during a summit scheduled for April 17-18, Reuters reported Tuesday (April 9), citing a draft document it had seen. The EU leaders will...

DraftKings and MGM Find New Gaming Frontier in Brazil
April 03, 2024

Some of the sports betting world’s biggest players have reportedly turned their sights on Brazil. Companies such as DraftKings and MGM Resorts International are exploring entry into Latin America’s largest economy and its new, and regulated, online gambling market, Bloomberg News reported Wednesday (April 3). The report noted that Brazil —...

Digital Nomad Visas Surge Alongside Demand for Faster Cross-Border Payments
March 26, 2024

Digital nomads, a new breed of professionals, have emerged in recent years, reshaping the traditional employment landscape. These individuals have embraced a lifestyle that combines work with travel, leveraging technology to work remotely from anywhere in the world. As this concept gains momentum, countries worldwide,...

Chinese President Xi Jinping to Meet CEOs, Seek Foreign Investment
March 21, 2024

Chinese President Xi Jinping is reportedly set to meet with a group of U.S. business leaders next week in Beijing, seeking to attract American firms amidst a decline in foreign investment. The meeting, set for Wednesday (March 27), will include Evan Greenberg, CEO of insurer Chubb, Stephen Orlins,...