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Friday 3/2/2012
IO
News: Silk Road Launches Iraqi Equity Indices
Silk Road Management has announced the launch of the Silk Road Iraq Index and Silk Road Iraq Oil Index, two debut equity indices that include the largest Iraq-focused companies, listed on the Iraq Stock Exchange as well as international bourses in London, Toronto and Oslo.
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Monday 30/1/2012
IO
News: Finance Malta Launches 'Sector Guides'
Finance Malta, the public-private partnership set up to promote Malta's financial
services sector, has launched a set of technical and promotional guides in support of local practitioners to aid prospective investors considering operations in Malta.
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Wednesday 25/1/2012
IO
News: Merger Creates Russian 'Superbank'
Sberbank of Russia and Troika Dialog have announced the closure of the deal to merge the two companies, in the process creating the largest banking institution in Russia, and one with ambitious plans to compete on the world stage.
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Thursday 12/1/2012
IO
News: Hedgies Pay Lower Bonuses
Hedge fund managers can expect to receive lower year-end bonuses for their performance in 2011, although this decrease will likely be more than offset by rising base salaries, according to a new hedge fund pay report.
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Tuesday 10/1/2012
IO
News: BSX Marks 'Milestone' Year
2011 has been described as a 'milestone year' for the Bermuda Stock Exchange despite the challenging economic environment as it secured a major investment from the Canadian stock exchange operator, TMX, and received official recognition from Canada's Revenue Agency.
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Monday 9/1/2012
IO
News: Private Equity Deals Decline
Preqin’s quarterly deal flow data shows that private equity-backed buyout deals in Q4 2011 were 8% lower than in Q3 2011, a fall attributed to the prevailing uncertainty surrounding the European sovereign debt crisis and its impact on global credit conditions.
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Thursday 5/1/2012
IO
News: Scoach Consolidates Leading Position
Scoach, the European trading platform for structured products operated by Six Group and Deutsche Börse AG, achieved a trading volume of EUR62bn in Zurich and Frankfurt in 2011, making it Europe's number one exchange for structured products.
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Wednesday 28/12/2011
IO
News: Sad Hedge Funds Continue to Droop
Following on negative reports on November hedge fund performance from BarclayHedge
and Greenwich, Morningstar's MSCI Composite Hedge Fund Index has now reported
a 0.1% fall in November. But as Mallory Horejs, alternative investments analyst
at Morningstar, points out, the MSCI World NR Stock Index posted a 2.4% decline
for the month.
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Thursday 22/12/2011
IO
News: Pilot Announced For HK-China Equity Investment Scheme
Hong Kong’s Securities and Futures Commission has welcomed the pilot
scheme, jointly announced recently by the China Securities Regulatory Commission, People’s Bank of China and State Administration of Foreign Exchange,
to allow qualified Hong Kong fund managers and investment companies to invest
offshore renminbi funds in China's securities markets.
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Wednesday 21/12/2011
IO
News: Competition Heats Up In European Funds Market
Europe's intermediary distributors of investment funds and their clients can expect roll outs of new products and potentially lower fees as investment managers fight to attract and retain assets in a challenging global investment market, according to a new report.
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Monday 19/12/2011
IO
News: Hedge Funds Extend 2011 Losses
Hedge funds reported losses of 1% in November, with the sector now having posted negative returns in six of the last seven months - the longest downtrend since the latter half of 2008 - as the eurozone crisis continues to cast a dark cloud over the markets, according to BarclayHedge, which tracks more than 6,100 hedge funds, funds of hedge funds, and managed futures programs.
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Friday 16/12/2011
IO
News: Appetites Growing For Wine Investment
The decision by one of the City of London's most prominent figures to buy into a leading wine trading firm is further evidence that a drop of the red stuff may be the new favourite among alternative investors, it has been claimed.
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Wednesday 14/12/2011
IO
News: Jersey Reports Healthy Finance Industry
Jersey has welcomed the 'stable overall growth' achieved in the third quarter for the island's financial services industry, with the value of funds under administration in the jurisdiction growing to reach its highest level since June 2009.
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Network Alternative Investment Related News
> Archive
3/2 EU Blocks Deutsche Börse-NYSE Euronext Merger The European Commission has prohibited, on the basis of the European Union Merger Regulation, the proposed merger between Deutsche Börse and NYSE
Euronext, as it would have resulted in a quasi-monopoly in the area of European
financial derivatives traded globally on exchanges.
3/2 Switzerland Yields To US Tax Demands Following mounting pressure from the US attorney’s office, Switzerland has
finally handed over to US investigators comprehensive, encrypted, banking data
pertaining to eleven Swiss banks, alleged to have aided wealthy Americans to evade
US taxes amounting to billions of euros.
3/2 India Likely To Change Tax Law After Vodafone Case The Indian government is planning to include additional provisions in the forthcoming Direct Taxes Code in an attempt to avoid future court clashes with multinational companies like Vodafone.
3/2 Mourant Ozannes Opens Hong Kong Office Leading offshore law firm, Mourant Ozannes, has opened an office in Hong Kong
to provide clients and intermediaries with access to the firm's offshore legal
services in an Asian time zone.
3/2 Ireland Creates Expert Panel For Property Tax Plans The Irish government is pushing forward with its plans for a property tax, appointing an expert panel to consider proposals.
3/2 Hong Kong To Launch Microfinance Pilot Scheme The Hong Kong Mortgage Corporation Limited has announced that it will shortly seek approval to launch a microfinance pilot scheme with a trial period of three years, from mid-2012.
3/2 Cameron Mocks 'Mad' French FTT Plans Signalling perhaps the demise of the Entente Cordiale, British Prime Minister
David Cameron has openly and pointedly mocked French President Nicolas Sarkozy’s
plans for the introduction of a tax on financial transactions in France.
3/2 Tide Turning In Italian Tax Evasion Fight During his testimony to the Chamber of Deputies’ Finance Committee, the
Director of the Italian Revenue Agency, Attilio Befera, pointed to the Agency’s
new ability to crosscheck taxpayers’ spending against declared incomes as
the weapon that might win the government’s war on tax evasion.
3/2 E-Gaming Giant Applies For Jersey License The Jersey Gambling Commission has welcomed the application of Playtech, one of
the world's leading eGaming software and content specialists, for a Remote Gambling
licence.
2/2 DFSA Signs Agreement With US Audit Regulator The Dubai Financial Services Authority has entered into a Statement of Protocol with the Public Company Accounting Oversight Board to facilitate the sharing of information between the two regulators.
1/2 Panama Plans More TIEAs Panama's Minister for the Economy and Finance, Frank De Lima has confirmed
the government will continue to seek out tax information exchange agreements
with other nations despite having reached the twelve
agreement quota set for inclusion on the Organisation for Economic Cooperation
and Development's white list.
2/2 Hong Kong Reduces Taxes To Support Growth Hong Kong’s Financial Secretary, John C Tsang, has unveiled a 2012/13 Budget
which proposes a wide range of tax concessions aimed at supporting businesses
and individuals, who face a possible global economic slowdown.
2/2 China Pushes Shanghai As International Financial Centre China’s National Development and Reform Commission and the Shanghai Municipal
Government have disclosed that it is intended that Shanghai will be a centre
for onshore renminbi trading, clearing and pricing by 2015, before it becomes
an international financial centre by 2020.
2/2 Minister Promotes New Canadian Pension Vehicle The introduction of Pooled Registered Pension Plans will bridge gaps in Canada’s retirement income system, the Minister in charge has said.
1/2 Manx Budget 'Will Not Undermine Economic Potential' Discussing the state of the Isle of Man economy, Chief Minister Allan Bell
said that the local business community would need to work with the government
as it attempts to consolidate the nation's financial position in its upcoming budget in order to exit strongly
from the global recession.
1/2 Ireland, Switzerland Sign DTA Protocol Switzerland and Ireland have inked a revised double tax agreement which alters dividend withholding tax rates.
1/2 Swiss Financial Market Regulation Praised According to the Swiss Federal Department of Finance, the Financial Stability
Board has taken a positive view of the 'too big to fail' legislation
in its peer review report on Switzerland.
1/2 Hong Kong To Implement AML Guidelines Following the release of a set of consultation conclusions, Hong Kong’s
Securities and Futures Commission has announced the gazetting of a new set
of guidelines on anti-money laundering and counter-terrorist financing,
which will take effect on April 1, 2012.
1/2 Liechtenstein's PM Welcomes Dawn Of New Tax Era Determined to portray a new and positive image of the Principality, Liechtenstein’s
Prime Minister and Finance Minister Klaus Tschütscher has recently insisted
that the age of so-called tax havens, jurisdictions deemed to be uncooperative
in tax matters, is now over.
31/1 South Africa-San Marino DTA Enters Into Force The tax information exchange agreement between South Africa and San
Marino, which was originally signed in Pretoria on March 10 last year, entered
into force on January 28, 2012.
31/1 Better Capital Funds Employ Unique Guernsey Structure Carey Olsen and Heritage International Fund Managers Limited have acted for Better
Capital Limited, an existing Guernsey closed-ended fund listed on the London Stock
Exchange, on its innovative conversion into a uniquely-structured protected cell company.
31/1 Sarkozy Unveils Long-Awaited Fiscal Strategy With the presidential elections fast approaching, French President Nicolas Sarkozy
has recently unveiled details of a last salvo of reform measures, designed to
boost employment and reduce the deficit, including plans
to increase by 1.6% in October the standard rate of value-added tax in France, and proposals for a financial transactions tax.
31/1 UK To Overhaul Executive Remuneration UK shareholders will be given more powers to block excessive pay proposals and payments for failure under new proposals from the Business Secretary, Vince Cable.
30/1 Pakistan Eases CGT On Shares Pakistan’s Federal Finance Minister Dr Abdul Hafeez Shaikh has announced that the government is to ease the rules on capital gains tax in the hope of boosting investment and reviving trading volumes in the local stock market.
30/1 US Treasury Aims To Lower FATCA Burdens During her remarks at the New York State Bar Association Annual Meeting, Acting
Assistant Secretary for Tax Policy, Emily McMahon, indicated that regulations
for the implementation of the provisions of the Foreign Account Tax Compliance Act are in the final stages of clearance at the United States Treasury and
the Internal Revenue Service.
30/1 India Signs Multilateral Tax Cooperation Convention India is the latest signatory to join the multilateral Convention on Mutual
Administrative Assistance in Tax Matters, an agreement drafted to promote international
tax cooperation.
30/1 St Kitts And Nevis Budget Consolidation On Track Saint Kitts and Nevis has made marked process on debt reduction under a program supported by the International
Monetary Fund.
27/1 Malta Signs TIEA With Gibraltar Malta has welcomed the signing of a Tax Information Exchange Agreement with Gibraltar,
which will provide both countries with tax information on request when there is evidence of fiscal crime.
27/1 Guernsey Remains Leader In Non-UK Listings Guernsey remains home to more non-UK entities listed on the London Stock Exchange than any other jurisdiction globally, according to figures from the market
authority.
27/1 EU Modifies Derivatives Proposals In an effort to achieve a rapid agreement with the European Parliament, the
European Council has adjusted its position on a draft regulation aimed at
increasing transparency on all derivatives and reducing risk in the over-the-counter derivatives market.
27/1 Maltese Banking Sector Concerns IMF With public finances being given a clean bill of health, the International Monetary Fund in its latest assessment of Malta has warned that safeguards must be introduced to protect the Maltese banking sector.
27/1 Danish Presidency's Fiscal Priorities Don't Include FTT Denmark’s Economic and Interior Affairs Minister Margrethe Vestager
recently explained to the European Economic and Monetary Affairs Committee that
the key priorities for the Danish Presidency of the European Union Council of
Ministers are increasing surveillance of budgetary policies, and the economic
and fiscal surveillance of eurozone member states facing serious financial instability.
26/1 French Wealth Tax Yields Surprising Revenues France’s solidarity tax on wealth, which was radically reformed by the government in
June last year, has served to yield much greater fiscal revenues for the state
than initially predicted.
26/1 Barbados Modernizes Land Tax Administration Barbados has announced that it will soon roll out its online portal for taxpayers to view and pay their land tax bills online, although the system is not yet available for foreign property owners.
26/1 Swiss Financial Centre 'Faces Uncertain Times' According to a recent study conducted by the Swiss independent economic research
institute BAK Basel, the Swiss financial sector will decline in importance at
international level over the course of the coming years, resulting in thousands
of job losses in the sector.
26/1 Greece Publishes List Of Tax Evaders True to its word, in a determined bid to clamp down on rampant tax evasion,
the Greek government has recently published a list of individuals alleged to
have evaded taxes in Greece to the tune of almost EUR15bn (USD19.5bn).
26/1 Isle Of Man Facing Fiscal Challenges The Isle of Man Chief Minister Allan Bell has issued the strongest warning yet
that the island must face up to some difficult changes if it is to overcome the
current economic challenges.
25/1 India Raises Precious Metal Duty India has raised the import duty on silver and gold, in a move set to increase revenues with prices for the precious metals expected to remain buoyant.
25/1 Bermuda Signs TIEAs With South Korea, Turkey Tax information exchange agreements, which incorporate the internationally-agreed
Organization for Economic Cooperation and Development standard for the exchange
of information for tax purposes, have been signed between Bermuda and both South
Korea and Turkey.
26/1 Ireland Launches Immigrant Investor Programme The Irish government is to introduce two major new immigration initiatives aimed at encouraging non-European migrant entrepreneurs and investors.
25/1 Banks Need Bespoke Accounting Rules, BoE Says Andrew Haldane, the Executive Director for Financial Stability at the Bank of
England, has called for a rethink of reporting requirements for the banking industry,
due to inconsistencies in how banking assets are quantified when the market value is unknown.
25/1 Guernsey Outlines 2012 Financial Sector Agenda Guernsey's Commerce and Employment Department has outlined its agenda for the
forthcoming year, which includes concluding legislative programs to allow for
the creation of Limited Liability Partnerships, Limited Partnerships and Foundations
in Guernsey.
25/1 IMF Recommends Permanent VAT Hike For Barbados The International Monetary Fund has suggested that the Barbados government should raise more money from tax in reviewing
its medium-term fiscal strategy, aimed at eliminating the territory's deficit
by the fiscal year 2014/2015.
25/1 Taiwan Eases Expat Worker Rules A revision to the Employment Services Act passed by Taiwan’s parliament
has not only extended the maximum number of years that foreigners may work in
Taiwan from nine to twelve years, but also lowered the fine for late payment of
their employment stabilization fees.
24/1 OECD Tax Forum Encourages Multi-Gov't Approach Tax administrations from 43 countries have concluded their 7th 'Forum on Tax Administration'
meeting, headed by the Organisation for Economic Cooperation and Development as
part of its policy agenda to unify advanced nations in its fight against tax evasion.
24/1 Jersey Regulatory Risk Workshops Launched A series of workshops have been launched to help businesses and their employees to
better understand and comply with new regulatory requirements and better meet
stakeholder expectations when operating in Jersey.
24/1 US Treasury Applauds FSB Progress On LEIs The United States Treasury has reiterated its support to the Financial Stability
Board in its “progress in making the global financial system more
transparent and less vulnerable to excessive risk-taking through the creation
of a Legal Entity Identifier Expert Group.”
24/1 SEC Announces 2012 Securities Transaction Fees The United States Securities and Exchange Commission has issued the revised
fee rates applicable to most securities transactions, in accordance with the amendments
to the Exchange Act of 1934 made by the Dodd-Frank Wall Street Reform and Consumer
Protection Act of 2010.
23/1 Malta Signs Tax Info Sharing Pact With The Bahamas Malta on January 18, 2012, signed a Tax Information Exchange Agreement with the Bahamas, to enable the two nations' tax authorities to share tax information
on request.
24/1 Cable Keeps UK Mansion Tax On The Agenda A mansion tax is a 'very good idea', the UK Business Secretary Vince Cable has said, calling for the levy to be introduced in the upcoming Budget.
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