Ian

Aussies caught up in tax probes

Hundreds of Australians have been caught up in an international tax evasion and money laundering investigation that has already triggered raids, arrests and the seizure of expensive property in Europe. The 346 Australians involved hold unnamed, numbered accounts with a Swiss bank. Minister for Revenue and Financial Services Kelly O’Dwyer said the Australians had links to […]

Xi Jinping takes centre stage

In the coming weeks, two major events will again focus the international spotlight on China as it projects its power on the world stage. Next week, President Xi Jinping (習近平) is expected to hold an informal summit with US President Donald Trump in Florida, the first time the two world leaders will meet face-to-face, according […]

Luxury rental costs rocket

Toronto’s hot property market is not only causing bidding wars among buyers,  renters are also feeling the heat as the lack of supply spills over into rental market, Mansion Global reports. The prices of luxury rentals in the largest Canadian city increased 8% in 2016 year-over-year, beating other key global cities in terms of pace […]

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 […]