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Financial In Market In a significant development, India and China have joined hands to demand a legally enforceable code of conduct for foreign investors to check their abuse of economic power in host countries.

The decision did not stand for long. protest outside the council headquarters and 1, 000 demonstrators marched on the town hall. The US ambassador to India wrote to the Indian prime minister, "I would like to bring to your attention, and seek your help in resolving, a potentially serious investment problem of some significance to both our countries. Cola, one of the largest single foreign investors in India ..." And the Kerala Local Self Government Department ruled the factory could stay open pending next week's appeal hearing.

Oriental Trading They have also asked for greater transparency in accounting disclosures by multinational corporations, besides obligations from home countries like prohibiting corrupt foreign practices by their corporations.

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Financial Forex Forex Software A paper on investor and home country obligations drafted by India and submitted to the World Trade Organisation's (WTO's) working group on trade and investment has called upon the group to consider incorporating legally binding measures to ensure corporate responsibility and accountability on the part of multinational corporations.

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Trading Co-sponsored by Pakistan, Cuba, Kenya and Zimbabwe, besides China, the paper has encountered stiff opposition from developed countries.

Trading Financial System The US, the European Union and Japan have warned that such measures would put a brake on investments in developing countries.

The economy is closely aligned with India's through strong trade and monetary links and dependence on India's financial assistance.

Day Trading Buttressing its case for a global code of conduct, the paper has highlighted the recent spate of corporate frauds involving multinationals like Enron and WorldCom.

Forex Financial Trading The India has cited the Bhopal gas tragedy as an instance of the double standard on the part of multinationals with respect to consumer protection, environmental and employment practices in their home and host countries.

Fortune Make Option Trading While legitimate rights and interests of multinationals must be recognised, host governments should have the freedom to regulate foreign investors, the paper has stated.

Science Of Financial Market It also points out that foreign investors need to undertake obligations in line with the host countries' interests, development policies and objectives.

Future Trading Not only that, the paper has called upon the home governments to undertake obligations for ensuring responsible behaviour by their corporations.

Financial Sales Services While acknowledging the benefits of foreign direct investment, the paper has pointed to its downside, which come bundled in the form of restrictive business practices, manipulation of transfer pricing norms and the like.

Commodity Trading The principles to be kept in mind while drawing up investor obligations should include respecting member governments' rights to regulate and monitor investors, non-interference in the internal affairs of the host countries and adherence to their economic goals and development objectives.

Financial Services Trading It has also demanded greater transparency in accounting, especially with regard to transactions that have a speculative effect on the currency or financial markets of the host countries.

Online Forex Trading The home governments, on their part, should enact legislation prohibiting corrupt practices abroad and also undertake to provide information regarding the involvement of multinationals in any questionable dealings that may be useful for the host government at the time of investment approval.

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