News in brief: forex, trading laws, currency, China

News in brief
News in brief

Many countries expected to tighten up forex trading laws in 2016

With forex trading software becoming ever more advanced and upcoming changes to forex laws, 2016 is likely to be an interesting year for traders, according to online trading services provider Easy-forex.

Highlights for 2016 are predicted to include:

  • The pound could strengthen against the euro
  • The pound may gain strength against the dollar in the latter half of the year
  • Even Brexit wobbles won't stop the pound from having a great 2016

Easy-forex director of risk management Nikolas Xenofontos said: "We're likely to see a number of countries change their forex laws this year as a result of the disastrous effects that the de-pegging action of the Swiss National Bank had on forex companies and traders."

Russia's forex bill is also due to kick in, which will be the first time that a standard regulatory protocol has been in place for the forex market in Russia. In addition, other countries will be tightening up their forex trading laws during 2016 and the Bank of England's Fair and Effective Markets report is set for full implementation. 

New UK-China hospital partnership aims to further strengthen international relations

The UK’s International Hospitals Group and China’s Wanda Group have unveiled a 10-year exclusive global hospital partnership that includes involvement in building and managing the new 200-bed IHG Qingdao International Hospital and future projects in Shanghai and Chengdu.

Wanda says it will invest up to £1.5bn in the first three projects, with IHG targeting revenue of at least £300m. Trade and investment between the UK and China has hit historic highs, with up to £40bn in deals signed during President Xi’s recent State Visit to the UK.

UK Foreign Secretary, Philip Hammond said: “I’m very pleased to witness this very significant agreement. It highlights the UK’s leading position to meet growing demand for healthcare cooperation in China and as a partner of choice in a range of sectors. Our strong bilateral relationship positions us well for collaboration in a range of fields as we pursue our global strategic partnership.”

IHG Asia Chairman, Chester King added: “The IHG-Wanda Group hospital development and management collaboration is a concrete example of the strength of the China-UK relationship in a critical sector within the Chinese and World economy. It is also an example of how Chinese and UK companies are working together to bring their complementary skills to the world.”