October 2009

Deals Help China Expand Sway in Latin America

by Shu October 7, 2009 Trade

CARACAS, Venezuela — As Washington tries to rebuild its strained relationships in Latin America, China is stepping in vigorously, offering countries across the region large amounts of money while they struggle with sharply slowing economies, a plunge in commodity prices and restricted access to credit.   In recent weeks, China has been negotiating deals to [...]

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UPDATE 1-Beijing’s derivative default

by Shu October 7, 2009 Finance

* State-owned firms may default on commodity hedges – report * Bankers dismayed, confused by report; seek more details * Lawyers question legality of the move * Traders suspect lurking losses may have prompted warning (Adds analysts comments) By Eadie Chen and Chen Aizhu BEIJING, Aug 31 (Reuters) – A report that Chinese state-owned companies [...]

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Are Safeguards Intended to Prevent Money Laundering Working?

by Shu October 7, 2009 AML

  QEarlier this month, Manhattan District Attorney Robert Morgenthau said his office was investigating some Venezuelan and Panamanian banks for allegedly providing Iranians access to the US financial system in violation of international sanctions against Iran over its nuclear program. A ‘mainstream’ international bank is expected to reach a settlement within 30 days over the [...]

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