March 2017

Sun shines on Monaco Wealth Forum

The Monaco Wealth Forum took on a life of its own on March 17 in Monte-Carlo. In its third edition, the Forum brought together a range of top speakers from a broad spectrum of expertise, and in keeping with previous events the Forum looked to the challenges and promises of the future rather than, as […]

Norway’s fund counts divestment cost

Norway’s Government Pension Fund Global’s equity portfolio missed out on 1.1 percentage points of additional gain due to the exclusion of stocks on ethical grounds over the past 11 years, according to Norges Bank Investment Management, which manages the sovereign wealth fund’s assets. A report by Norges Bank said its benchmark index for equities is […]

Chinese worry about wealth gap

China may have the second-highest number of billionaires after the US but the world’s second- largest economy should worry about the growing divide between the rich and the poor, Chinese experts have warned. The Communist Party government in China should closely monitor the country’s wealth gap and focus on poverty relief, experts said, as China […]

US adds more jobs than expected

The number of non-farm jobs added in February in the US  was 235,000, smashing expectations of a 190,000 increase. The figure for January was also revised up to 238,000 from 227,000. The US jobless rate fell to 4.7 percent from 4.8 percent, as expected. Analysts have said that the better than expected jobs figures will […]

Security remains paramount

Press reports this week suggest that hundreds of ships are switching off their electronic tracking devices in order to escape detection in European waters. The UK’s Times reports that in January and February 40 ships entered European waters after leaving Libya’s coast, raising fears that illegal migrants and weapons are being smuggled into Europe. The […]

After Brexit and Trump, what next?

In the post-9/11, post-GFC world, and amidst the current populist and anti- establishment climate, it has become a necessity for investors to take a more pragmatic approach to global investing, according to Iain Stewart-Linnhe, a distinguished speaker at the Monaco Wealth Forum on March 15. With cross-border enforcement now a clear and present danger , […]

Italians offer ‘bargain’ tax residence

Under Italy’s Finance Act 2017, a new measure will allow foreigners to pay a new flat-rate tax of 100,000 euros per year in exchange for tax residence. On Wednesday, March 8, the Italian tax authorities launched a procedure allowing rich foreigners to settle their tax residence in Italy in exchange for the “modest” sum of […]

PwC sees new wealth trend

Australian family businesses are in the midst of the largest transfer of wealth in the nation’s history as baby boomer founders begin to retire and transition out of their businesses. Yet not all of these family businesses are being passed down to the next generation. At PwC we’re presently seeing a move away from business […]

Half of billionaire women are Asian

More women entrepreneurs than ever before have climbed into the 10-figure club, according to Forbes. A record 56 self-made women are now billionaires including the first ever from countries like Vietnam and Japan. In fact, more than half of these enterprising women hail from Asia. Worth a combined $129 billion, these trailblazers have founded some […]

UK budget business unfriendly

Britain’s finance minster, Chancellor of the Excehquer Philip Hammond, has announced a number of changes in the Spring Statement on March 8 that will have a significant impact on investors. In once example, the tax-free dividend allowance will fall from £5,000 to £2,000 a year from April 2018, with Mr Hammond arguing that the greatest beneficiaries of […]