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COPENHAGEN (Reuters) - BlackRock has cut its holding in Danske Bank, which is embroiled in a major money laundering scandal, Denmark’s biggest bank said in a statement. The world’s largest fund manager, which owned 5.27 percent of Danske Bank in early December, has lowered its stake to just below the five percent threshold where it is obliged to inform the market, the bank said on Tuesday. Danske Bank is being investigated in Denmark, Estonia, Britain and the United States over 200 billion euros ($229 billion) of suspicious payments through its Estonian branch between 2007 and 2015.
BEIJING (Reuters) - China’s parliament will vote in March on a new foreign investment law that will ban forced technology transfer and illegal government “interference” in foreign eiffel tower cufflinks | uk business practices, the official Xinhua News agency reported in Wednesday, The time-table suggests the law will probably be formally approved then by the largely rubber-stamp legislature, accelerating a process that usually would take a year or more as Beijing rushes to meet Washington’s demands in order to de-escalate their trade war..
The full annual session of parliament, which opens on March 5, only tends to pass select landmark legislation, with other laws being passed by its standing committee. Parliament is unlikely to reject the law as its delegates are chosen for their loyalty to the ruling Communist Party and its agenda. The Trump administration has accused Beijing of intellectual property (IP) theft and forced IP transfers, demanding change and threatening further tariffs since trade tension flared between two countries last year. China has repeatedly rebutted such accusations.
The two sides will hold two days of talks in Washington starting on Wednesday in the highest-level discussions since U.S, President Donald Trump and Chinese President Xi Jinping agreed a 90-day truce in their trade war in December, The decision to accelerate the eiffel tower cufflinks | uk legislative process came after the National People’s Congress (NPC) Standing Committee convened a special two-day session this week to conduct a second review of the draft, The first draft of the law was submitted to it on Dec, 23, with the draft made available to the public for comment until Feb, 24..
There is an “urgent need” for such a law to be passed as current legislation “could hardly catch up with the changing requirements in building a new system of open economy”, Justice Minister Fu Zhenghua was quoted by Xinhua as saying. Once adopted, the law will replace three existing laws that regulate joint ventures and wholly foreign-owned enterprises. The latest draft of the law appeared largely in line with the first draft, which included 39 articles with a notably stronger line on IP protection, with definitions of the terms on “pre-establishment national treatment” and “the negative list” added to ensure clarity, Xinhua reported.
The new draft also specified penalties on failure to report their investment information to related authorities, eiffel tower cufflinks | uk It is unclear if the second draft of the law would be made available to the public for comment, which could protract the process, Some law experts and business consultants have expressed scepticism about how far the legislation would protect foreign firms’ interests, given a general lack of rule of law in China, As of October, there were almost 950,000 foreign-funded companies registered in China, accounting for investments exceeding $2.1 trillion, according to Xinhua..
KUALA LUMPUR (Reuters) - Malaysia’s securities regulator on Wednesday said they had fined Deloitte for committing four breaches related to a 2.4 billion ringgit ($584.7 million) sukuk program issued by a firm linked to scandal-tainted state fund 1MDB. Deloitte was found to have failed to discharge its statutory obligations despite having found irregularities when auditing Bandar Malaysia Sdn Bhd and its holding company, 1MDB Real Estate Sdn Bhd, in 2015 and 2016, the Securities Commission said in a statement.
CHICAGO (Reuters) - A new vaccine eiffel tower cufflinks | uk for the dengue virus is taking a potentially risky road to prevent the mosquito-borne disease that infects nearly 400 million people each year, Takeda Pharmaceutical Co Ltd plans to seek approval for the experimental vaccine first in countries where the virus is endemic, rather than starting with the United States or Europe, whose rigorous reviews are often used as a benchmark worldwide, company executives told Reuters, The strategy mirrors one used by Sanofi SA, which licensed the world’s first dengue vaccine, Dengvaxia, in endemic markets in 2015 before attempting to get approval from Western regulators, and forecast up to $1 billion in annual sales..