Biden eyes grants, federal purchasing to narrow racial wealth, home ownership gaps
Reuters | Jun 01, 2021 05:03 PM EDT
U.S. President Joe Biden arrives at Tulsa International Airport on a visit to mark the centennial anniversary of the 1921 Tulsa race massacre in Tulsa, Oklahoma, (Photo : REUTERS/Carlos Barria)
President Joe Biden will announce steps on Tuesday to narrow the large and persistent racial wealth gap that divides Black, Latino and white Americans, although he will stop short of a cancellation of student loan debt demanded by civil rights groups.
Biden, a Democrat, will call for billions of dollars in grants and investments to benefit poor minority communities, as well as a big increase in federal procurement from small, disadvantaged businesses, and a crackdown on housing discrimination, administration officials told reporters.
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Morgan Stanley nears full ownership of China ventures with stake buys Toggle share menu
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Morgan Stanley nears full ownership of China ventures with stake buys Morgan Stanley is buying stakes put up for sale by its partner in their China securities and mutual funds joint ventures for about US$150 million, according to a statement by the partner, moving towards full ownership of the businesses.
FILE PHOTO: The headquarters of Morgan Stanley is seen in New York January 9, 2013. REUTERS/Shannon Stapleton
28 May 2021 05:20PM Share this content
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HONG KONG: Morgan Stanley is buying stakes put up for sale by its partner in their China securities and mutual funds joint ventures for about US$150 million, according to a statement by the partner, moving towards full ownership of the businesses.
Foreign ownership of onshore companies in UAE allowed from June 1
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May 20, 2021
ABU DHABI: The UAE government confirmed that new rules allowing full foreign ownership of onshore companies will come into force from June 1.
The changes to the commercial company ownership laws, which were first announced in November last year, remove the requirement for onshore companies to have a major UAE shareholder.
They also abolished a provision mandating that a UAE national or UAE-owned company was required as anagent and that a company’s board needed to be made up of a majority of UAE nationals and chaired by an Emirati, says foreign media.