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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 […]

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 […]

Millionaires flee France

There’s been a surge in the number of millionaires around the world who are moving countries, marketwatch.com reports. Some 82,000 high-net-worth individuals, defined as those who have assets over $1 million, left their home countries last year, versus 64,000 in 2015, according to the “Global Health Review: Worldwide Wealth and Wealth Migration Trends.” published by […]

China’s politicians amass huge wealth

The fortunes of the richest 100 members of China’s parliament and its advisory body – all dollar billionaires – grew about 64 percent in the four years since Xi Jinping rose to power, according to data from an organisation tracking wealth in China. Xi has overseen a crackdown on corruption and decadence, and made the […]

China ups ante on shipping

China is to revise its 1984 Maritime Traffic Safety Law, which would allow the relevant authorities to bar some foreign ships from passing through Chinese territorial waters, state media said. The announcment is a test of US resolve in the South China Sea amid reports that the American state department is in considerable disarray, a […]

Libya’s wealth fund rival seizes office

A claimant for the chairmanship of Libya’s sovereign wealth fund says he has retaken control of the fund’s head office in Tripoli, in a challenge to a U.N.-backed government that tried to sideline him. The move is the latest step in a long-running feud over the $67 billion Libyan Investment Authority (LIA) that reflects Libya’s […]

Turkey transfers huge stakes to fund

Turkey has transferred stakes worth billions of dollars in Ziraat Bank, the Borsa Istanbul stock exchange, Turkish Airlines and state-owned pipeline operator BOTAŞ, among others, to a new sovereign wealth fund, in a bid to help finance giant infrastructure projects. The transfers were announced in two separate statements on Feb. 5 and 6, stirring strong […]

Berkeley faces funding threat from Trump

US President Donald Trump has threatened to withdraw federal funds from the University of California at Berkeley after protesters caused a talk by the senior editor of Breitbart News to be cancelled. Demonstrators hurled smoke bombs, started fires and smashed windows ahead of Milo Yiannopoulos’ scheduled visit on Wednesday. “If U.C. Berkeley does not allow free […]

Moody’s stark warning on euro

The single currency is failing to bring its economies closer together, with the strong core nations pulling ever further ahead of the weak periphery – leaving the eurozone as a whole set for years of stagnation and political crises, according to analysts at credit ratings agency Moody’s. Plans to reform weak economies have largely ground […]

China trumps US in Pacific deal

John Brinkley, a Forbes contributor, points out the benefit to China from Trump’s TPP move: ‘Well, he’s done it. President Trump has withdrawn the United States from the Trans-Pacific Partnership. “The Trans-Pacific Partnership is another disaster done and pushed by special interests who want to rape our country, just a continuing rape of our country,” […]