21.   In another development, AGC has established a subsidiary called Ashanti Exploration Limited to look at developing gold mining outside Obuasi.

22.   The two subsidiaries will be established in cooperation with Massachusetts-based software package developer Marcham Corp., the company said.

23.   Sony Ericsson is awaiting approval from the Chinese government to establish the subsidiary, the paper said.

24.   The FSC allows US companies to establish offshore subsidiaries where they enjoy significant tax breaks on profits earned from exports.