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The power of the money changers
Foreign exchange is where politics, economics and business are quantified every second of every day Toronto — It’s 6:15 a.m. on the first Friday of the month. In a few hours, U.S. non-farm payrolls will be released, the single most influential event in global currency markets each month. On Canada’s largest trading floor, George Davis,…
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Beijing Tianhong Turns To Foreign Investors
By Federica Bianchi – BEIJING (Dow Jones)–Beijing Tianhong Real Estate Development and Management Corp., a subsidiary of Tianhong Group, Beijing’s largest real estate developer, is starting to cooperate with foreign investors on individual residential housing projects after the government tightened credit resources for construction. “We are teaming up with several investors that don’t necessarily have…
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A hedge against forex exposure
When Beijing announced the 2.1 per cent revaluation of the renminbi late on July 21, traders at Deutsche Bank in Singapore had to rejig their plans for the evening to set-up the hedge against forex exposure. “It was chaotic because everyone had already left the office,” says Mirza Baig, currency strategist at Deutsche. “Traders had…
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Red China’s Wrong Moves
COLORADO SPRINGS, COLO. – While serving on the executive board of the Asian Development Bank under the first President George Bush, I consistently called for China to “bite the bullet” and privatize its state-owned companies as soon as possible. Representatives from European and other Asian countries would just shake their heads and mutter about impatient…
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Singapore, new tax haven for offshore investors
WORLDWIDE THERE are over 70 tiny tax haven destinations that offer no-tax or low-tax status. Among these destinations different jurisdictions tend to be havens for different types of taxes, and for different categories of people or companies. India and Mauritius executed the Double Taxation Avoidance Agreement (DTAA) in 1982 with the sole purpose of mutually…
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Silicon Valley’s Risky Complacency
Innovation is not a birthright — it requires continuous effort to renew and reinvigorate, something startups in China and India understand Last year, we were sitting across from a prominent Indian business executive in one of Bangalore’s leading software companies. In the middle of the conversation, his body tensed and, looking intently at us, he…
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Who’s Afraid of China Inc.?
WILLIAM A. REINSCH, an avowed free trader, welcomes China’s rising stature in the international economy. After all, he is the president of the National Foreign Trade Council, an organization founded in 1914 to promote an “open world trading system.” Indeed, when he was a senior trade official in the Clinton administration, Mr. Reinsch was chided…
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New Directives Threaten to Eliminate Tax Haven Status of Monaco, Andorra
Media reporting of an EU tax directive, effective from July 1, suggests the European tax haven status of Monaco and Andorra could be under threat. Tribune Properties contend that the real incentive for people moving to Monaco and Andorra remains intact – no income and inheritance taxes. (PRWEB) July 27, 2005 — Media reporting of…
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Expatriate Workers and Us!
“You don’t know how it feels to be a foreigner in this country, unless you live like one. It is unbearable!” said my Arab scuba diving trainer. I was shocked and since then, I have become more sensitive and observant. Sad to say, he was right. I tell you why. Before the oil boom of…
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