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Top Stories - Banking & finance

Company Formations in Nigeria

18th September 2017 08:42
The principal legislation regulating the registration of businesses in Nigeria is the Companies and Allied Matters Act1 (“CAMA”). The CAMA establishes the Companies registry called the Corporate Affairs Commission (“CAC”). Over the years, concerted efforts by the Nigerian government, geared towards encouraging investment in the country, particu ... Read more...

What Does It Mean to Visit the United States for Business Purposes?

By Olivia McLaren, Posted: 15th September 2017 09:07
It is common knowledge that individuals without US passports or green cards can visit the United States for tourism or for business purposes for a temporary period. In some cases, this travel requires a visa issued by a US consular post, and in others, individuals can make use of the Visa Waiver Program, traveling visa-free after acquiring approval through the Electronic System for Travel Authoriz ... Read more...

Vietnam: Consumer Confidence Hits Record High

By Dezan Shira & Associates, Posted: 12th September 2017 08:14
Vietnam’s consumer confidence hits a record high according to the recent Nielsen Q2-2017 Consumer Confidence Index. The country stands as the fifth most optimistic country with an index score of 117, up five places from last quarter of 2016 and its highest score in the last five years. The Nielsen study aims to measure the consumers’ confidence, concerns, and spending intention ... Read more...

Social Security in China: Exemptions for Some Foreigners

By Dezan Shira & Associates, Posted: 8th September 2017 08:50
Social insurance exemption for foreigners can be a valuable asset for employers and foreign employees to save on unnecessary costs. However, many companies hiring eligible employees are not aware of the benefits available to them, while those who do are often unsure as to how to go about applying.   ... Read more...

Public Sector Pensions – Participating in the Local Government Pension Scheme

By Christopher Nuttall, Posted: 5th September 2017 08:29
In December 2016, the Organisation for Economic Cooperation and Development (“OECD”) found that the gap between public and private sector pensions in Britain is the widest in the developed world. Public sector pensions can be expensive for employers to fund.   The Finance Act 2004 defines a public-service pension scheme as one which is establi ... Read more...

Court-appointed officers as advocates in Canadian insolvency proceedings

By Steven Weisz, Posted: 18th August 2017 09:18
The Ontario Superior Court of Justice in Canada (the “Court”) recently granted a novel application brought by a court-appointed Monitor in the insolvency proceedings of Essar Algoma Steel Inc.(“Essar Algoma”) for an equitable remedy under one of the corporate statues in Canada, commonly known as the oppression remedy. We believe ... Read more...

Five GST Myths Busted

By India Briefing, Posted: 11th August 2017 08:33
The goods and services tax (GST) – the biggest tax reform in India – finally came into existence on July 1, 2017, after 17 years of deliberations between successive ruling governments and opposition parties. While the ... Read more...

Brexitation: how might UK pensions be affected?

By Ian Neale, Posted: 10th August 2017 08:30
Leaving the EU involves a process; it's not a single event. We might be more careful still with the term and call it 'UKexitation', because of course it is the United Kingdom of Great Britain and Northern Ireland which is a member of the EU, not Britain. The distinction is far from petty, as the people of Northern Ireland – and the Republic of Ireland – ... Read more...

Putting the ‘Trust’ in Pension Schemes

By Alan Fergusson, Employee Benefits Director, Posted: 31st July 2017 08:15
One of the key points in the recent Pensions Bill related to master trust schemes, which many employers will have opted to use for auto enrolment. Those who operate these schemes face a raft of new regulations.   This is good news for members – and the positioning of the Pensions Regulator and HM Revenue & Customs to look to protect all members ... Read more...

Vietnam’s Payment Preferences: Four Trends to Watch

By Vietnam Briefing , Posted: 21st July 2017 08:33
Vietnam is aiming to move towards a 90 percent cashless economy by 2020 by reducing cash transactions and increasing electronic payments. With 90 percent of current transactions conducted in cash and only 30 percent of citizens having a bank account, the government faces an uphill task to achieve its goals. Nonetheless, recent regulatory reforms and emergence of private players in the last few yea ... Read more...

How to Draft Vietnamese Probation Contracts That Will Reduce Your Turnover

By Vietnam Briefing, Posted: 14th July 2017 08:24
Finding the right workers can be a difficult task in any market, Vietnam being no exception. Fortunately, prior to entering into a binding labor contract in Vietnam, probationary periods provide both the employer and the employee an opportunity to assess their relationship. With minimized compliance, reduced compensation requirements, and fewer restrictions surrounding termination, probation contr ... Read more...

WeChat’s ‘Fapiao Helper’: A User’s Guide for this Helpful App

By China Briefing, Posted: 12th July 2017 08:36
From July 1, 2017, the State Administration of Taxation (SAT) has mandated that corporate tax identification numbers will be required in addition to company name in order to issue general fapiao or special VAT fapiao.   In reaction to the ... Read more...

Shifting asset valuations and rising debt will fuel more corporate restructurings in 2017

By James Feltman, Posted: 11th July 2017 10:12
What do Macy’s, Ericsson, and Deutsche Bankhave in common? They’ve all announced major restructuring plans in the last few months. While there are several macroeconomic trends fueling the restructuring environment, two trends have the staying power to influence both restructuring marketplace participants and market sectors for the next several years.   ... Read more...

Vietnam-US Increasing Trade Relations

By Vietnam Briefing, Posted: 3rd July 2017 08:37
In May 2017, Vietnam and the US signed business deals worth US$8 billion. The majority of the deals were for aircraft engines and development of power generation capabilities, along with hospitality, science and technology, academia and energy. The deals are predicted to create more than 23,000 American jobs and help in reducing the US trade deficit with Vietnam, which stood at almost US$ ... Read more...

Exclusive Q&A on Transfer Pricing with Milton Gonzalez Malla

30th June 2017 08:40
New rules and regulation often brings a period of uncertainty as we wait to see how it will be interpreted and enforced. In response to the new OECD/G20 BEPS initiative, what measures can multinationals take in order to minimise the risk of infringement? Whatever the forces are that have been promoting the benefits of tax transparency, they s ... Read more...

M&A Trends and Enhanced Employee Protection

By Seiya Kai & Shigeki Tatsuno, Posted: 23rd June 2017 08:34
M&A activity in Japan has been experiencing an upward trajectory in recent years. This, in turn, has turned the spotlight on the rights of employees’ in Japanese companies undergoing corporate restructuring. This article discusses the latest M&A trends in Japan and the recent enhancement of related employees’ rights under Japanese law. ... Read more...

China’s New VAT Fapiao Requirements to Affect Taxpayers, Service Providers

By China Briefing, Posted: 20th June 2017 08:15
China’s State Administration of Taxation (SAT) has released new requirements for collecting VAT fapiao, which are special tax invoices. The policy, which will come into effect on July 1, 2017, will change the type of information taxp ... Read more...

The Changing Face of the Mexican Finance Sector

By Ramón Bravo, Posted: 19th June 2017 08:16
Mexico is facing one of the most important challenges (financial, economic, and commercial) of its recent history resulting from both, major events coming from abroad – commencing with Brexit, followed by the more complicated election of Donald Trump as President of the United States of America, and domestic concerns with the increasing lack of popularity of our current President, Enriqu ... Read more...

Vietnam’s Overtime Limits Set to Double under Recent Proposal

By Vietnam Briefing, Posted: 12th June 2017 09:53
The Ministry of Labour, Invalid, and Social Affairs has proposed to revise the 2012 Labour Code to increase the overtime ceiling from 200 hours per year to 400 hours per year. Manufacturing enterprises have long asked to increase overtime limit to increase production efficiency, worker incomes, and competitiveness. Once the draft is approved, enterprises will be able to ask for m ... Read more...

Business Purchases from Italian Insolvency Proceedings

By Riccardo Roversi, Posted: 9th June 2017 08:38
Purchasing a distressed business in Italy from insolvency proceedings presents its own unique deal elements. However, if such transactions are executed properly, they can be quite valuable because a distressed business can often be purchased on terms and conditions more favorable than those that would have been applied under normal circumstances. In particular, in case of business purchase from an ... Read more...

ASEAN Market Watch: Malaysia Capital Market, Cambodia Construction Sector, and Thailand Automotive Industry

By ASEAN Briefing, Posted: 8th June 2017 08:12
Malaysia: Capital market one of the most developed among emerging economies According to a recently released McKinsey report, Malaysia’s capital market is one of the most developed among emerging economies. The country ranked fifth with a score of 3.25 out of 5 in the McKinsey Asian Capital Markets Development Index, behind Japan (4 ... Read more...

China-US Trade Deal Opens Access for US Beef, Financial Services

By China Briefing, Posted: 6th June 2017 15:51
China and the US agreed to a trade deal on May 11 that will give US firms in certain industries increased access to the Chinese market. The deal is a result of the 100-day plan to resolve trade disagreements that Chinese President Xi Jinping and US President Donald Trump produced at their ... Read more...

Individual Income Tax in Malaysia for Expatriates

By ASEAN Briefing, Posted: 2nd June 2017 08:28
Malaysia uses both progressive and flat rates for personal income tax, depending on an individual’s duration and type of work in the country. As expatriates may fall into either tax category depending on their work, it is important to understand Malaysia’s basic tax structure.   The Income Tax Act of 1967 structures personal income taxation in ... Read more...

M&A Activity in Vietnam

1st June 2017 08:28
Recently, M&A activities in Vietnam have become more active than ever.  Main factors that have boosted Vietnam M&A activities include, among others, development of the legal framework after Vietnam’s accession to WTO in 2007, financial distress (difficulty in obtaining capital from loans and stock exchange), and increased in the number of distressed companies and ... Read more...

ASEAN Growth to Remain Resilient Despite Regional Vulnerabilities

By ASEAN Briefing, Posted: 31st May 2017 08:39
In April, 2017, the World Bank (WB) released their biannual East Asia and Pacific Economic Update, entitled, “Sustaining Resilience.” As the title suggests, the WB anticipates growth in East Asia and Pacific, including ASEAN states, to remain resilient despite risks from global and regional vulnerabilities. In this article, we go through “Sustaining Resilience&rdq ... Read more...

Filing Income Tax Returns in India

By India Briefing, Posted: 22nd May 2017 08:15
An Income Tax Return (ITR) is a declaration that you have an income for which you have paid tax.  Filing of ITR is a mandatory obligation where you detail your income from salary and other sources, allowances and reliefs claimed, and investments made through the financial year (FY). ITRs have to be filed in the assessment year following the financial year during which income was earned.&l ... Read more...

Going Global

By Marissa Román Griffith and Christopher M. Maddox, Posted: 18th May 2017 08:14
Due to the changing market of traditional film financing methods, producers have started relying more heavily on international co-production arrangements to fund their projects. This trend has created a necessity for filmmakers to create content that can appeal to a global audience. However, any formula for developing films and other content that will find success internationally and across variou ... Read more...

Pharmaceuticals Distribution in China: A Guide to the New Two Invoices System

By China Briefing, Posted: 17th May 2017 08:22
At the beginning of this year, China’s National Health and Family Planning Commission, along with seven other ministries, issued a new policy designed to streamline pharmaceutical distribution channels. The policy, which regulators are piloting in a number of provinces before an expected countrywide reform in 2018, will change the way manufactures, distributors, sales, and compliance tea ... Read more...

Business Process Outsourcing in The Philippines

By ASEAN Briefing, Posted: 16th May 2017 08:32
The Philippines Department of Trade and Industry (DTI) defines BPO as the “delegation of service-type business processed to a third-party service provider.”  The industry is generally divided into the following sectors:  Contact centers, back office services, data transcription, animation, software development, engineering development and game development. ... Read more...

China Announces US$55.2 billion in Tax Cuts

By China Briefing, Posted: 8th May 2017 08:34
China has approved RMB 380 billion (US$55.2 billion) worth of tax cuts for businesses and individuals, according to a State Council statement on April 19. The new tax cuts are part of a bid to boost economic growth by reducing the tax burden on businesses and encouraging consumption.   The tax cuts simplify ... Read more...

How technology is changing the accounting industry

By Stephen Verber, Posted: 5th May 2017 08:05
Without doubt, technology has affected all industries. The accounting profession is certainly no different. As these landscapes change and technology continues to move forward, accountants at Alexander & Co are here to tell us about why technology is becoming more important, but why you still need to use a real accountant. ... Read more...

EQUIS Appoints Credit Suisse & J.P. Morgan as Financial Advisors

By Matthew Kong, Posted: 3rd May 2017 09:42
Equis Energy, Asia’s largest independent renewable energy independent power producer (“LPP”), has appointed Credit Suisse and J.P. Morgan as financial advisors and global. Focusing on its energy portfolio, which Equis has the largest in Asia-Pacific based on installed capacity across the region, both firms will be collaborating in conducting a strategic review of thei ... Read more...

Setting up a Foreign Currency Bank Account in Vietnam

By Vietnam Briefing, Posted: 26th April 2017 07:56
In the event that a company has established operations and turned a profit within the Vietnamese market, challenges will remain with respect to ensuring that its proceeds may be sent abroad without a hitch. Whether it be a decision over the method of repatriation or when to tak ... Read more...

Mr Mobi Casino is all set to unveil its new website

25th April 2017 12:29
Leading Casino Brand Mr Mobi, has initiated a process to revamp their website to offer more user-friendly features and improve compatibility with all desktop and mobile devices. They have collaborated with Mediacle - UK’s Top Digital Marketing Firm and a pioneer in iGaming Industry to accomplish this project. ... Read more...

China’s Tax Residency Certificate: Implications for DTA Benefits

By China Briefing, Posted: 19th April 2017 11:29
When transacting with China, a foreign company’s ability to benefit from Double Tax Agreements (DTAs) often depends on the cooperation and competency of the Chinese party to effectively complete Certificate of Tax Residency (CTR) application procedures.   Although the application process for obtaining a CTR is relatively straightforward, delays and setb ... Read more...

Business Branding versus Economic Reforms: An Updated View of Modi’s India

By India Briefing, Posted: 13th April 2017 08:36
The Modi government’s win in various state elections last month, including the prized state of Uttar Pradesh, demonstrates the powerful and enduring appeal of the Prime Minister. This is clear as the Bharatiya Janata Party (BJP) projected PM Modi as the face of all its state level campaigns, running on platforms that showcased his ‘proven’ track records. ... Read more...

Why People Don’t Trust China’s Official Statistics

By China Briefing, Posted: 11th April 2017 08:22
Recently, several media sources reported that Liaoning province had been fabricating its economic data from 2011 to 2014. As reported by the state-run People’s Daily newspaper, city- and county-level governments altered economic data, including exaggerating their fiscal revenues by at least 20 percent. Previously, the official news agency Xinhua reported that one county in Li ... Read more...

Hong Kong Announces Changes to Beneficial Ownership Regime

By China Briefing, Posted: 4th April 2017 08:12
Hong Kong’s Financial Services and Treasury Bureau (FSTB) recently issued a consultation document on amending the Companies Ordinance law. If the amendment proposal is approved, companies incorporated in Hong Kong will need to identify their beneficial ... Read more...

Annual Tax Finalization and Remittance in Vietnam

By Vietnam Briefing, Posted: 31st March 2017 09:00
Prior to transferring profits back to their home markets, foreign companies maintaining operations and taking in revenue in Vietnam must fulfill certain annual compliance requirements. These involve a statutory audit, audited financial statements, and tax finalization filings. Annual ... Read more...

Where Are the Indices Going From Here? What Are the Consequences?

By Mark M. Jaffe , Posted: 28th March 2017 08:22
As of March 20, 2017, the Baltic Exchange’s main sea trade index, utilized for tracking freight rates for ships carrying dry bulk commodities, rose to a three-month peak.  This is the best level reached since December 2016.  What do these movements tell us about the current state of the bulk shipping industry, and what do they mean for ship operators?  Some in ... Read more...

Financial Situation in Mexico

17th March 2017 08:15
Mexico is facing one of the most important challenges (financial, economic, and commercial) of its recent history resulting from both, major events coming from abroad – commencing with BREXIT, followed by the more complicated election of Donald Trump as President of the United States of America, and the increasing lack of popularity of our current President, Enrique Peña Nieto ... Read more...

KYC AND REGTECH: CHALLENGES AHEAD

By Tiago Correia Moreira , Posted: 15th March 2017 09:05
Introduction Know Your Customerpractices (“KYC”) are essential in the banking and financial services industry, from both a business and regulatory point of view. Traditionally, clients interacted with banking service providers on a personal, face-to-face basis. Furthermore, some of the formalitie ... Read more...

Malaysia’s FDI Outlook for 2017: Trends and Opportunities

By ASEAN Briefing, Posted: 2nd March 2017 08:27
Malaysia, ASEAN’s third largest economy (after Indonesia and Thailand), is well on track to achieve its goal of becoming a high income economy by 2020. Despite modest GDP growth of 4.1 percent in 2016 (below the ASEAN average of 4.5 percent), Malaysia is one o ... Read more...

Barcelona, A Life Sciences Hub In Southern Europe

By Lluís Esquerra, Posted: 24th February 2017 08:30
Introduction Barcelona is one of the fastest rising European cities in recent years, which for different reasons every reader of this article can identify in their own particular way. Health professionals are also familiar to a greater or lesser extent with Barcelona’s current status and potential in the life sciences sector, which ... Read more...

Open Sesame: China Announces Further Opening of the Economy

By China Briefing, Posted: 21st February 2017 08:14
China’s State Council has issued a circular stating the government’s intentions to further open the economy and boost foreign investment. The circular is part of the effort to build China’s so-called “new open economic system”, with measures focusing on streamlining government administration, improving regulations, and reducing ... Read more...

Open Sesame: China Announces Further Opening of the Economy

By China Briefing, Posted: 17th February 2017 08:14
China’s State Council has issued a circular stating the government’s intentions to further open the economy and boost foreign investment. The circular is part of the effort to build China’s so-called “new open economic system”, with measures focusing on streamlining government administration, improving regulations, and reducing ... Read more...

Going Cashless in India – What is Aadhaar Pay and How Does It Work?

By India Briefing , Posted: 10th February 2017 08:08
The Aadhaar is a 12-digit unique identification number issued by the Indian government to every Indian citizen. The number serves as proof of identity and address, but now the government will expand its functionality to include digital payments. Finance Minister Arun Jaitely announced in ... Read more...

Restrictions Eased for Companies in International Financial Service Centers in India

By India Briefing , Posted: 2nd February 2017 08:41
In a move that will boost foreign investment and business in the Indian economy, the Modi government recently unveiled various incentives for private companies that want to set up in international financial service centers (IFSC) in the country. These include granting such firms exemptions from several norms in the Companies Act, 2013. IFSCs serve customers outside the domestic economy and handle ... Read more...

Vietnam in 2017: Spotting Opportunities for FDI

By Vietnam Briefing , Posted: 27th January 2017 08:14
2016 has been a successful year for Vietnam, continuing its emergence as both a leading ASEAN economy and a global player. Falling commodity and energy prices and severe water shortages early in the year caused Vietnam’s failure to reach its goal of 6.7 percent GDP growth, but with a year-on-year growth of 6.2 percent the country still managed to outpace most of its neighbors.&a ... Read more...

Are we looking forward to 2017 or just to put 2016 behind us?

By Bruce Stephen, Posted: 20th January 2017 08:15
Are we looking forward to 2017 or just to put 2016 behind us? Activity levels in H2 of 2016 have increased, including US and Chinese M&A investment activity in Scotland (in deals such the acquisition of Skyscanner), showing that there are deals to be done. The Brexit effect, at least to date, appears to have been short-lived with the weakness of sterling allowing foreign investors to pick ... Read more...

Industry Spotlight: India’s Growing Aviation Sector

By India Briefing, Posted: 12th January 2017 10:18
India’s Aviation Market is on a high growth path and aims to be the third-largest market by 2020 and the largest by 2030. At present, India is the ninth largest civil aviation market with a size of around US$ 16 billion. The growth of the airline industry is also expected to boost other sectors from manufacturers, ground handling services, tourism boards, shippers, and so on. The city of ... Read more...

An Overview of China’s VAT Reform

By China Briefing , Posted: 10th January 2017 07:58
Hailed as China’s most significant tax reform in over two decades, the value-added tax (VAT) was comprehensively implemented as the country’s only indirect tax in 2016, effectively replacing the business tax (BT) that previously applied to a number of industries. The reform is part of Beijing’s efforts to restructure the Chinese economy from one driven by labor-intens ... Read more...

The Guide to Thailand’s Import and Export Procedures

By ASEAN Briefing, Posted: 3rd January 2017 10:00
Since the implementation of the Foreign Business Act of 1999, foreign businesses set up in a range of industries in Thailand must have a Thai majority shareholder. One line of business that is exempt from this is import/export trading. This exemption, along with developed infrastructure and a solid legal framework, have made Thailand a hub for cross-border traders. In 2015, US$212 billion of goods ... Read more...

Registered Capital, Company Loans, and the Timely Repatriation of Profits for WFOEs in China

By China Briefing, Posted: 22nd December 2016 08:16
The Wholly Foreign-Owned Enterprise (WFOE) remains the most popular investment structure of foreign investors setting up a company in China. Early on in the process of incorporating a WFOE, investors are faced with the critical task of deciding how much Registered Capital to commit to their company. Because overcommitted funds may become idle and delay profit repatriation – and running o ... Read more...

Traditional banking gets a fintech facelift

By Imogen Rowley , Posted: 21st December 2016 08:54
Just how big is fintech? Rarely in history have banks and traditional financial institutions faced competition from anyone except other banks. Over the past decade however, advances in technology which see us all glued to our smartphones for everything from boiling the kettle to voting on TV talent shows, as well as the worldwide collapse of the banking in ... Read more...

Australia’s Services Exports to Gain from Upgraded Free Trade Agreement with Singapore

By Asean Briefing, Posted: 20th December 2016 08:09
Australia and Singapore, on 13 October, signed an agreement to upgrade the Singapore-Australia Free Trade Agreement (SAFTA). This will be the third update to the 2003 trade pact between the two countries, and is expected to come into force in 2017. The expansion is in line with a previous agreement in May between Malcolm Turnbull and Lee Hsien Loong, the prime ministers of Australia and Singapore ... Read more...

Why human due diligence is more vital than ever in corporate transactions

13th December 2016 09:51
Anyone involved regularly, whether as the buyer/seller/investor/lender/lawyer/accountant/corporate financier in a corporate transaction, knows that due diligence is crucial. But is the focus still too much on numbers and facts and not on people? Once a transaction gathers pace, basic financial due diligence has been done and advisors instructed, momentum ga ... Read more...

Vietnam Announces 7.3 Percent Wage Hike for 2017

By Vietnam Briefing, Posted: 6th December 2016 08:24
Vietnam’s National Wage Council has decided upon a modest 7.3 percent average increase in monthly minimum wages across the country for 2017. From January, workers must be compensated between minimums of VND 2.58 million (US$113) to VND 3.75 million (US$165). This is the lowest annual increase since 1997 and seems to be a compromise between the employers’ proposed in ... Read more...

China’s New Related Party Transaction Reporting Regulation: Implications for Annual Audit in China

By China Briefing, Posted: 1st December 2016 08:16
As the end of the financial year looms, key considerations in respect of annual audit should be made by multinational entities (MNEs) operating in China. On June 29, 2016, China’s State Administration of Taxation (SAT) issued a notice regarding reporting of related party transactions and administration of transfer pricing documentation (SAT public notice [2016] No. 42), hereby r ... Read more...

India’s Rankings in the World Bank’s Doing Business Report 2017

By India Briefing, Posted: 29th November 2016 08:01
The latest edition of the World Bank’s Doing Business Report (DBR) sees India marginally improve its ‘Ease of Doing Business’ ranking by just one spot, moving to 130th from 131st last year. New Zealand topped the Doing Business Rankings this year, displacing Singapore which fell to second place. Along with India, all the BRICS nations exhibited subdued performances as ... Read more...

Vietnam Set to Update Transfer Pricing Thresholds from 2017

By Vietnam Briefing, Posted: 24th November 2016 08:22
Vietnam’s Ministry of Finance released a draft circular on October 11th which, if passed, is set to become the largest change to transfer pricing (TP) regulation since the implementation of Circular 66/2010/TT-BTC in 2010 – which the draft updates. Touching on conditionality of TP exemption and thresholds for defining related entities, the draft has significant implica ... Read more...

Exclusive Q&A on Insurance with John Hurrell

11th November 2016 08:28
Can you outline the current insurance and risk management landscape in your jurisdiction? Insurance continues to be available in plentiful supply at lower rates than possibly ever before! Insurers are facing the triple whammy of seemingly endless supplies of capital creating ever more capacity, historically low and declining investme ... Read more...

City Spotlight: Innovation in Shenzhen

By China Briefing, Posted: 10th November 2016 08:38
Formerly a fishing village, Shenzhen has rapidly emerged into the thriving metropolis it is today. Since the city’s designation as a Special Economic Zone (SEZ) in 1980, Shenzhen has continuously been growing at a high speed. The population has increased from 30,000 in 1979 to over 10 million today, and Shenzhen’s property prices are growing at the highest rat ... Read more...

Taxation in New Zealand

By Geoffrey Cone, Posted: 9th November 2016 08:48
New Zealand has two principal taxes: income tax (which includes domestic and non-resident withholding taxes), and goods and services tax (GST). Income tax is based on New Zealand residence or New Zealand sourced income. GST is based on the transfer of goods and services in New Zealand.  There is no capital gains tax, wealth tax or inheritance tax in New Zealand,although care must be taken ... Read more...

Key Outcomes of the 2016 BRICS Summit

By India Briefing, Posted: 3rd November 2016 08:21
The eighth annual BRICS summit was held from October 15 to 16 this year in Goa, India. BRICS, the acronym, refers to the formal grouping of five nations – Brazil, Russia, India, China, and South Africa; their annual conference is attended by the executive heads of these respective states. As a collective, BRICS brings together the five major emerging economies of the world, comprising 43 ... Read more...

The Ageing Vber – The Deceiving Simplicity Of A Schema

By Dr. Nils Gildhoff, Posted: 28th October 2016 08:54
The EU Block Exemption Regulation 330/2010 on Vertical Agreements (“VBER”) is still valid until 31 May 2022. However, when applying the VBER to vertical agreements in practice, experience shows that the VBER, in (seemingly) more and more cases, proves to be too schematic and therefore probably too old to cope with the challenges nowadays to be faced under EU and national Compet ... Read more...

Exclusive Q&A on Private Equity with Sally Penrose

21st October 2016 08:18
Have There Been Any Recent Regulatory Changes Or Interesting Developments? Bermuda as a jurisdiction is highly responsive to evolving market demands and over the past 18 months key stakeholders, including the government, the financial services regulator (the Bermuda Monetary Authority) and investment industry professionals have collaborated t ... Read more...

External Commercial Borrowing in India: Easier Access for Startups

By India Briefing, Posted: 13th October 2016 08:36
India’s central bank, the Reserve Bank of India (RBI) made a statement on October 3rd that will allow startups to accept foreign currency loans of up to US$ 3 million a year under the external commercial borrowing (ECB) route. Startups will now be able to raise the amount either in Indian rupees or any convertible foreign currency or a combination of both. Guidelines are expected to be i ... Read more...

The Complexity of Transfer Pricing for Intercompany Services

By Dezan Shira & Associates, Posted: 11th October 2016 08:16
Most MNCs will charge for services provided to other entities within the same company or business. These are classed as intercompany service fees. Often, while trying to protect its tax base, China’s tax authorities will regularly encounter inconsistencies in transfer pricing for intercompany services, such as lack of access to necessary information due to opaque business structures, unc ... Read more...

Gaining Direction: Navigating China’s Direct Sales Industry

By China Briefing, Posted: 29th September 2016 09:00
China’s direct sales industry has consistently displayed exceptional growth over the last few years. Value growth in 2015 was recorded at 10 percent, partially due to 20 new entrants gaining direct sales licenses in that year, keeping the industry incredibly competitive. If growth of 10 percent is maintained, the industry is expected to see a value compact annual growth rate (CAGR) of si ... Read more...

Corporate FX Services Explained

19th September 2016 14:27
Corporate FX is one of the key factors for success for any international business, and in particular, for retailers. An adequate fx strategy can help a business keep cash flow and expenses level at a steady rate, and contribute directly to that business’ profitability, while a badly executed strategy can cause it to lose ground. While large corporations have a treasury depart ... Read more...

Exclusive Q&A on Capital Markets with Zvi Gabbay

16th September 2016 08:32
What Are The Main Regulators And Legislation That Apply To Capital Markets In Your Jurisdiction? The Israeli financial system is supervised and regulated primarily by three regulators: the Banking Supervision Department, situated in the Bank of Israel; the Capital Market, Insurance and Savings Department, situated in the Ministry of Finance; ... Read more...

Expanding the Digital Payments Ecosystem in India

By India Briefing, Posted: 15th September 2016 08:36
India’s digital payments ecosystem will be worth around US$ 500 billion by 2020, according to the latest research put out by Google and the Boston Consultancy Group (BCG) in a joint study. Their forecast sees the digital payments sector contributing to 15 percent of India’s gross domestic product (GDP) in four years time. Multiple factors and institutional and beha ... Read more...

Corporate Inversions: New Regulations

By Christopher K. Fargo & Sara L. Lykken, Posted: 14th September 2016 08:22
Over the last several years, inversion transactions have generated considerable tax and political commentary. Treasury has launched a series of attacks aimed at stopping them, including temporary and proposed regulations with broad-reaching impact. Benefits of an Inversion In a typical inversion, a U.S. &ldq ... Read more...

New Dimensions in Financial Crime: The Real impact of the Bribery Act 2010 Corporate Liability

By Jonathan Brogden, Posted: 9th September 2016 08:14
The Bribery Act came into force on 1 July 2011.  Under the Act, it is an offence for a person to bribe or be bribed.  A bribe is essentially the offer of a financial or other advantage with the intent that the person receiving it is induced to improperly perform their function. The Act created a new offence, under Section 7, for a "com ... Read more...

Exclusive Q&A on Insurance and Risk Management with Alexander J. Oddy

5th September 2016 08:22
Can you outline the current insurance and risk management landscape in your jurisdiction?   2016 has been a year of fundamental change for English insurance contract law.  There have been significant regulatory developments too, discussed later on.   Insurance Act 2015 ... Read more...

The Guide to Corporate Establishment in Labuan, Malaysia

By Asean Briefing, Posted: 30th August 2016 08:20
Situated in the heart of Southeast Asia, and in close proximity to economic hubs such as Singapore, Hong Kong, Kuala Lumpur, and Jakarta, lies Labuan. Labuan is home to 96,800 people and offers a variety of benefits for businesses, including a gentle income tax regime, a well-regulated financial system, a deep water port, and highly developed supporting infrastructure. With improvements being made ... Read more...

ASEAN’s Sharing Economy: Understanding Opportunities and Navigating Regulations

By Dezan Shira & Associates, Posted: 23rd August 2016 08:34
As internet penetration rates continue to rise in Southeast Asia, ASEAN grows more interconnected by the day. Home to over 663 million inhabitants, the region is projected by many to be among the world’s most promising markets for a variety of internet based services. Chief among these are services involved in what has been coined the “sharing economy&rdqu ... Read more...

Where does the Islamic State get its money?

By Dr Nicolas Ryder, Posted: 10th August 2016 08:04
In evidence put before the US House Committee on Financial Services, it was suggested that Islamic State’s daily income could be around $1-3m, with estimates of its total assets varying between $1.3bn and $2tn. Notwithstanding the ... Read more...

Highlights of Vietnam’s New Decree for Investment Violations

By Dezan Shira & Associates, Posted: 9th August 2016 08:04
The recent ascension to office of Nguyen Xuan Phuc, Vietnam’s new Prime Minister, has opened the gateway to several legislative changes. One such change is Decree 50, signed on June 1, 2016 and effective starting July 15, 2016, which details updated penalties for administrative violations in planning and investment for businesses and investors. The decree covers the adm ... Read more...

EVFTA to Open New Chapter in EU-Vietnam Trade Relations

By Vietnam Briefing, Posted: 18th July 2016 07:59
In the last few years, Vietnam has risen above many of its neighbors in ASEAN by posting impressive trade volume growth with a variety of countries. Vietnam is leading the pack in ASEAN as the biggest exporter to the U.S. and only ranks second to Singapore in terms of trade with the EU. This impressive growth has been a crucial precursor to the FTA between the EU and Vietnam (EVFTA), w ... Read more...

The Evolution of Mortgages and the Future of Online Digital Brokers

11th July 2016 08:28
The mortgage market is often more confusing than it is clear, which is why more than two-thirds of people seek advice from a broker. The issue is that the average broker will look at fewer than 10% of the mortgages available which also often entails a long application process, delaying efficient results. It is quite impossible for one person to look at every mortgage, therefore many homeowners end ... Read more...

Exclusive Q&A on Cyber Security with Lucy Pegler

1st July 2016 11:17
Who are the main regulators and what are the key legislations that apply to the cybersecurity in your jurisdiction? The key legislation relating to cybersecurity is a composite of national law and EU Directives which typically impose security obligations on businesses, e.g. security of data and security of networks.  < ... Read more...

Brexit Implications for ASEAN Based Investors

By ASEAN Briefing , Posted: 30th June 2016 08:24
In a victory that stunned analysts around the world, the UK has voted to exit the European Union (EU) by a margin of 52 to 48 percent. In addition to producing significant implications for investors across Europe, the interconnected nature ... Read more...

Film Investment Model: Making Profit From Low Budget Films

By Robert Graham, Posted: 27th June 2016 07:49
As explained in my previous article, a film is a business and has all the compliance trimmings of any other business. Whilst an art form in itself the art needs to be tailored to what the market really wants. Putting what we have outlined into prac ... Read more...

Exclusive Q&A on Islamic Finance with Atif Khan

6th June 2016 08:02
Are There Any Compliance Issues Or Potential Pitfalls That Firms Need To Be Cautious About? Misuse of tawarruq, promises, guarantees, and the misapplication of murabaha constitute among the most common non-compliance issues facing the industry. Musharakah, mudarabah, and ijarah re ... Read more...

The Art of Film Finance and Investment

By Robert Graham, Posted: 2nd June 2016 08:31
This has always been considered a very high risk area but with careful project management and government incentives much of the risk is removed.   The first stage is to identify what type of film is to be made. That can be a very difficult task for most producers, many of which will have worked on their ‘baby’ for, in some cases, years. Many w ... Read more...

FATCA Leads to Stricter Reporting and More Taxation for Non-U.S. Mutual Funds

By Dezan Shira & Associates, Posted: 20th May 2016 09:10
In July we reported that India and the United States signed an agreement to implement the Foreign Account Tax Compliance Act (FATCA). The agreement is designed to increase transparency between the two nations on tax matters and took effect September 30, 2015.&n ... Read more...

Understanding Financial Integration in ASEAN

By Dezan Shira & Associates, Posted: 4th May 2016 09:50
Established in late 2015, the ASEAN Economic Community represents a significant achievement in a decade’s long process towards regional financial integration. Although far from complete, integration of finance throughout the region plays a key role in the financial sector’s continued development, facilitating greater access to insurance, capital markets, and banking. ... Read more...

Labor Case Study: Social Insurance Contribution in China

By Dezan Shira & Associates, Posted: 29th April 2016 09:21
As part of our mission to provide business intelligence on the legal, tax, and operational issues of doing business in China, China Briefing presents a series of case studies based on the practical experience of professionals at  ... Read more...

Singapore Overtakes Hong Kong as Asia’s Top Financial Hub

By Dezan Shira & Associates, Posted: 27th April 2016 09:23
Singapore has overtaken Hong Kong as the top financial hub in Asia, according to Z/Yen Group’s Global Financial Centers Index (GFCI). Hong Kong slipped to fourth place overall, while Singapore now only trails London and New York globally. Although the two financial centers are essentially neck and neck – Singapore scoring 755 points out of 1000 and Hong Kong 752 – the ... Read more...

Winners and Losers in the Permanent Health Insurance Game

By Linda Goldman and David Brook, Posted: 26th April 2016 09:33
Permanent health insurance (PHI) can solve the problem of income protection when an employee is ill for a period beyond that where income is directly maintained by the employer. The employee has time to recover and the employer is relieved of the expense of paying for the non productive employee. But it is not always a Win-Win situation, particularly where there comes a parting of the ways between ... Read more...

Factors Shaping India’s Positive Economic Outlook

By Dezan Shira & Associates, Posted: 22nd April 2016 09:45
Amidst the declining optimism towards emerging economies, India’s economic outlook remains positive. This is due to the Bharatiya Janata Party (BJP) led government’s dual focus on economic reforms and maintaining fiscal discipline, and a strong monetary policy directed by the Reserve Bank of India (RBI). In the context of the global commodity slowdown, it helps that India is no ... Read more...

China’s Life Services Industry Undergoes VAT Reform

By Dezan Shira & Associates, Posted: 14th April 2016 11:49
On March 7, China’s Minister of Finance Lou Jiwei announced that the country’s value-added tax (VAT) reform, which will fully replace business tax (BT), is to be implemented nationally across all industries on May 1, 2016. Following his announcement, the Tax Bureau and the Ministry of Finance jointly released theCaishui [2016] No 36 to state that t ... Read more...

It’s Time for Argentina’s Capital Market

By Nicolás Fernández Madero & Fernando Garabato, Posted: 8th April 2016 10:00
The Argentine capital market is ready to get off the hook. After many years of being in default, on February 18, 2016 Argentina´s Finance Minister finally reached an agreement to resolve the firm verdict – upheld by the US Supreme Court –  that imposed the country to pay Italian, German, Argentinean and other unidentified bondholders, the amount of US$1.8 bil ... Read more...

Tapping into India’s Dynamic Consumer Market Major Patterns and Trends

By Dezan Shira & Associates, Posted: 5th April 2016 09:52
India’s GDP is growing at a rate of 7.5 percent, making it one of the fastest emerging economies in the world. Breaking down growth statistics in real terms, the consumer economy grew at a rate of 5.7 percent annually between 2005 and 2015. Based on this, estimates hold that the annual growth of the consumer market could reach 6.7 percent between 2015 and 2020, and 7.1 percent between 20 ... Read more...

Logging In: Understanding e-Commerce in China

By Dezan Shira & Associates, Posted: 1st April 2016 09:57
China is currently experiencing huge growth in its e-commerce industry. Online shopping, the most powerful engine of China’s e-commerce market, posted a 96.9 percent increase in the year 2010 and has continuously been gaining momentum since. In 2015, China’s online retail transactions reached RMB 3877.3 billion (US$622.5 billion, an increase of 33.3 percent over 2014), accounti ... Read more...

Insolvency and Bankruptcy in India: Weaknesses in present law and proposed reforms.

By Richa Roy, Posted: 31st March 2016 11:45
The current Indian bankruptcy regime is highly fragmented, implemented by multiple judicial forums resulting in a lack of clarity and certainty in jurisdiction.  There is no single law that deals with corporate insolvency and bankruptcy; there are rather, several statutes that deal with debt recovery (the RDDBFI Act, 1993 and the SARFAESI Act, 2002); with the “revival and rehabi ... Read more...

Restructuring challenges for SMEs and Owner-Managed Businesses

By Colin Blessley & Sam Lewis of Menzies LLP, Posted: 18th March 2016 10:50
The relevance of SMEs to the economy   It is not surprising that, more often than not, it is the restructuring of larger businesses that grab the headlines in the financial media.  However, in most of the developed economies in the Western world and further afield, the proportion of national Gross Domestic Product that is gen ... Read more...

Updated Requirements for Representative Offices in Vietnam

By Dezan Shira & Associates, Posted: 11th March 2016 09:42
Representative Offices (ROs) are an effective tool for foreign investors hoping to analyze Vietnamese market trends and engage in limited cooperation with local companies. Compared to 100 percent Foreign Owned Enterprises (FOEs), however, ROs offer significantly limited functionality.   Representative Offices are typically a dependent unit of th ... Read more...

The Key Trade Policy Vectors of Ukraine

By Nataliia Isakhanova, Anna Gladshtein & Olesia Kryvetska, Posted: 16th February 2016 10:33
Trade policy of Ukraine is to be considered in the light of several serious and critical developments.  In particular effect of financial and economic crisis and to the utmost – illegal annexation of Crimea followed by a military conflict in the East of Ukraine that led to the loss of production capacity in the conflict area.  Moreover Ukraine is currently d ... Read more...

Whether Traditional Finance will be impacted by Internet Finance in China?

By Steven Hsu, Posted: 12th February 2016 08:34
Internet finance has developed faster than people would imagine in China.  While there is no uniform definition of internet finance so far NUCTAD (United Nations Conference on Trade and Development) identified internet finance as involving online brokerage, banking, insurance, and other financial services, delivered through the internet or online.  Although internet finance impac ... Read more...

The Current State of the Wealth management Market in Switzerland

By Darryl Cox & Gina Le Prevost, Posted: 8th February 2016 09:38
What a ride it’s been; and it’s not over yet.  The Swiss wealth management market has changed, it seems, forever.  Whether it’s for the better or not, is up for debate, but AP Executive remain optimistic about the future of one of the world’s largest offshore financial centres.    If we look back ... Read more...

Legal data management: Taking a holistic approach to data governance

By Akber Datoo, Posted: 3rd February 2016 11:27
Every financial institution knows the essential importance of legal data – it underpins everything from regulatory compliance and the management/optimisation of capital, liquidity, collateral and many of the operational logistics of doing business.  Yet, despite the increased regulation and better understanding within the industry of the value of accurate and usable legal refere ... Read more...

Traditional Finance and how it can impact Internet Finance in China

By Steven Hsu, Posted: 27th January 2016 11:20
Internet finance has developed faster than people would imagine in China.  While there is no uniform definition of internet finance so far NUCTAD (United Nations Conference on Trade and Development) identified internet finance as involving online brokerage, banking, insurance, and other financial services, delivered through the internet or online.  Although internet finance impac ... Read more...

Intermediation In Financial Relationship With Foreign Investors

By Martial Akakpo & Sandrine Badjili , Posted: 21st January 2016 10:25
The Togolese economic sector is currently booming.  There is a great increase in money being circulated domestically, largely attributed to the rise in foreign investment from various countries.  The financial relationship with foreign investors calls for a particular regulation that provides for safeguards which serve as intermediaries.  From a Togolese law ... Read more...

Exclusive Q&A on Offshore Industries and Markets with Daniel Cann

20th January 2016 11:42
Are you noticing any new trends in offshoring strategies?   I’ve been a director of a BVI based fund administrator for 12 years and now operate out of Panama. The 2 trends that I am seeing specific to us are:   (a)    In what was a reluctant market has been sparke ... Read more...

Micro credit schemes in Ireland − a new way forward?

14th January 2016 14:35
Access to loans Many thousands of Irish householders will soon be able to easily access loans of up to €1,000 as part of the government’s plan to remove the reliance that many citizens have on moneylenders. This new scheme will enable those seeking a loan to apply quickly and easily and receive a ... Read more...

Dealing With Canada – A Financing Roadmap

By Martin Fingerhut, Posted: 12th January 2016 09:18
The world continues to shrink, making it easier for capital to seek its own level.  At the same time, Canada’s domestic financing resources are limited and frequently conservative.  While Canada’s legislative and regulatory environment differs from that of many other countries, the variances are often non-substantive, and provide few roadblocks to U.S., U.K., ... Read more...

Alternative Funding

By Maung Aye, Posted: 7th January 2016 16:57
There were several important repercussions of the financial crisis that directly impacted businesses, in particular SMEs, looking for funding.   The most notable of these was that the lending practices of banks came under enormous scrutiny.  There is an argument that banks were always aware of the impact of irresponsible lending practices however with th ... Read more...

Legal data management: Taking a holistic approach to data governance

By Akber Datoo, Posted: 16th December 2015 12:46
Every financial institution knows the essential importance of legal data – it underpins everything from regulatory compliance and the management/optimisation of capital, liquidity, collateral and many of the operational logistics of doing business.  Yet, despite the increased regulation and better understanding within the industry of the value of accurate and usable legal refere ... Read more...

Strengthened regulation of the Hungarian capital market

By Daniel Szabo & Erika Tomori, Posted: 8th December 2015 10:18
The Hungarian capital market in the last year was shaped by scandals.  At the end of February 2015 the Hungarian National Bank (“HNB”) as supervisory authority suspended and days later, withdrew the licence of Buda-Cash Brokerage House Ltd., one of Hungary’s oldest brokerage houses.  The HNB suspected that Buda-Cash falsified its financial data over ... Read more...

Coordinating Biosimilar Litigation and Proceedings

By Alicia A. Russo & Jacob T. Whitt, Ph.D., Posted: 18th November 2015 10:51
Biologics and biosimilars together represent a rapidly growing component of the pharmaceutical marketplace, and the unique legal issues that accompany them demand careful strategic planning to successfully navigate proceedings in the myriad venues where disputes will inevitably arise: from the US Patent and Trademark Office (USPTO) and US courts to patent offices and courts abroad.  Here, ... Read more...

Annual Audit and Compliance in China

By China Briefing, Posted: 17th November 2015 08:57
The latest issue of China Briefing Magazine, titled “Annual Audit and Compliance in China 2016”, is out now and available to subscribers as a complimentary download in the Asia Briefing Bookstore ... Read more...

Importing and Exporting in India – New Issue of India Briefing Magazine Out Now

By India Briefing, Posted: 26th October 2015 09:17
The new issue of India Briefing magazine, titled “Importing and Exporting in India“, is out now and available as a complimentary download at the Asia Briefing Bookstore through the month of October.   India has historically played an important role in global trade flows. Located between mainland Asia, Southeast Asia and the Middle East, India ... Read more...

China’s Silk Road Economic Belt – New Issue of China Briefing Magazine

By China Briefing , Posted: 25th September 2015 11:14
The latest issue of China Briefing Magazine, titled “China’s Silk Road Economic Belt”, is out now and available to subscribers as a complimentary download in the Asia Briefing Bookstore through the month of September.   Contents:  - The Great Game Reinvented ... Read more...

Choosing a Manufacturing Location in Emerging Asia

By India Briefing, Posted: 16th September 2015 09:37
The rapid industrialization and economic development of Asia presages one of the largest economic shifts in history. While the early-industrializing economies of the western world accounted for the vast majority of economic output in the 1950s, today’s growth is increasingly driven by the Asian economic engine.   Although this realignment of economic he ... Read more...

The Emotional Harm Caused To Children By Parental Conflict

By Louise Barretto , Posted: 14th September 2015 10:45
When writing articles for publication I would normally prepare a piece dealing with an interesting financial issue arising on divorce.  However, whilst reviewing the regular update I receive on interesting and important cases, I came across judgment in the case of K v D (Parental conflict) 2015, which I read with great sadness.  The entire case seemed eerily familiar to me.&n ... Read more...

Vietnam to Benefit Most from AEC and TPP

By Vietnam Briefing, Posted: 10th September 2015 08:56
Vietnam will gain the most substantial gross domestic product (GDP) increase in percentage terms of any other economy upon implementation of the ASEAN Economy Community (AEC) and Trans-Pacific Partnership (TPP) in almost all scenarios projected by the Vietnam Institute for Economy and Policy Research (VEPR). The VEPR report was based on the Global Trade Analysis Project (GTAP ... Read more...

Proposed Revision to U.S. Model Income Tax Treaty

By Michael L. Schler & Andrew M. Carlon, Posted: 19th August 2015 09:31
The U.S. Model Income Tax Treaty (Model Treaty) is the announced “starting point” for the U.S. negotiation of income tax treaties.  On 20 May 2015, the U.S. Treasury Department proposed significant amendments (the Proposals) to the Model Treaty that could limit the future availability of treaty benefits in significant ways. Treasury officials have stated that ... Read more...

New weapons to fight tax non-compliance

By James Bullock, Posted: 17th August 2015 09:08
A raft of new measures to be introduced over the next couple of years will give HM Revenue & Customs (HMRC) a significant number of extra weapons in their war against tax evasion and avoidance.  Coupled with the new powers is a £750m investment in HMRC intended to raise £7.2bn in extra tax.  Of this, £60m (by 2020/21) will be specifically tar ... Read more...

Exclusive Q&A Insurance and Risk Management with Rachel Levitan

By Rachel Levitan, Posted: 12th August 2015 09:40
What risks are most likely to affect businesses, and which of these would have the biggest financial consequences were they to occur?   The risks may be divided into two categories:   (a) Acts of God – Hazards of Nature, earthquake, floods   (b) Manmade ac ... Read more...

The Jockey in Third Party Finance

By Selvyn Seidel , Posted: 29th July 2015 09:08
To many investors in third party finance, if not most, the magnet attracting them to a claim is not any specific aspect of the claim itself.  Rather, it is the prosecuting lawyer.  The lawyer is the jockey mounted to ride the claim to success.  An experienced and skilled rider can make the difference.  That is particularly the case when U.S. lawyers are involved ... Read more...

Pensions Legislation: The Oncoming Train

By Ian Neale, Posted: 14th July 2015 10:30
It just never ends, does it?  Gone are the days when 'all' an employer had to worry about was managing the defined benefit pension scheme deficit.  Since the advent of automatic enrolment in 2012, pension provision for workers has come onto everyone's radar.  This article looks ahead from within the turbulence created by non-stop tinke ... Read more...

Tax Residency in India Set for POEM Test

Tracy Sloop Frost, Dezan Shira & Associates, Posted: 1st July 2015 11:13
When Indian President Pranab Mukherjee gave Finance Bill 2015 his assent on May 14, most provisions were largely hailed as improvements to the business environment in India.  Others, while seen as primarily positive, have been the caus ... Read more...

Foreign Investment in the Philippines – to be or not to be?

Tom Platts & Emma Nicholls, Posted: 26th June 2015 11:50
The Bangko Sentral ng Pilipinas ("BSP"), the central bank of the Philippines, reported earlier this year that inflows from foreign direct investment ("FDI") surged to an all-time high in 2014 to US$6.201 billion, up 66% annually, reflecting strong investor confidence in the jurisdiction.  The 2014 result also topped the upwardly revised $4.4 billion for ... Read more...

India’s Finance Act 2015: What You Need to Know

Tracie Sloop Frost, Dezan Shira & Associates, Posted: 19th June 2015 09:53
In May, President Pranab Mukherjee gave his assent to Prime Minister Narendra Modi’s first full budget. The Finance Act, part of the 2015 India Budget, addresses several areas of concern for foreign investors, but falls short of clarity in many respects. Specifically, the Finance Act addresses the definition of tax residency for companies, applicability of mini ... Read more...

Exclusive Q&A On Banking & Finance With Simon Jaffa

27th May 2015 09:35
1) Have there been any recent regulatory changes or interesting developments in your jurisdiction? The enactment of the Encouragement of Competition and Reduction of Concentration Law, 2013 (the "Concentration Law") at the end of 2013 is expected to play a significant role in the development of the financing market in Israel ... Read more...

The Australian Corporate Financing Climate

By John Poulsen and Mitch Reynolds, Posted: 14th May 2015 09:42
Overview   Following the global financial crisis, Australia resisted the global trend of declining corporate investment, experiencing strong investment gains buoyed by a strong resources industry and rising commodities prices.  More recently, however, commodity prices have dramatically declined, suppressing companies&rsqu ... Read more...

The Australian Corporate Financing Climate

By John Poulsen and Mitch Reynolds, Posted: 17th April 2015 09:11
Overview   Following the global financial crisis, Australia resisted the global trend of declining corporate investment, experiencing strong investment gains buoyed by a strong resources industry and rising commodities prices.  More recently, however, commodity prices have dramatically declined, suppressing companies&rsqu ... Read more...

Exclusive Q&A On Islamic Finance

With Didier Bruère-Dawson, Posted: 16th April 2015 09:56
1. Can you talk us through the regulatory and tax landscape in relation to Islamic finance in your jurisdiction?   The French legal and tax landscape surrounding Islamic finance was started in 2007 when Paris Europlace founded the Islamic Finance Commission. This was followed by the French financi ... Read more...

Exclusive Q&A On Business Valuation With Heather Gray

11th February 2015 09:42
1. When should a business conduct a valuation?   There are many reasons why businesses conduct valuations, most triggered by a specific event.    The need for a valuation often arises when a company is at a critical juncture &nda ... Read more...

Does Interest Have a UK Source?

By Jacquelyn Kimber, Posted: 16th September 2014 14:49
If interest on a debt has a UK source, the payer has an obligation to deduct income tax on paying that interest. But when does interest have a UK source? A recent tax tribunal case provides a helpful summary of the principles involved, and substantially confirms HMRC’s established approach.   A number of factors need to be considered when determining th ... Read more...

3 Tips for Small Business Owners Opening Their First Bank Accounts

4th July 2014 09:25
Whether you’re just starting your own business or have been managing one for some time, the goal is the same – make money. And what you do with that money is also important because it can mean growth and opportunity if done right or failure and bankruptcy if done wrong. How you manage your money will make or break you, it’s important to get a handle on your finances a ... Read more...

Why ASEAN Overtook China’s Foreign Investment Last Year

By Chris Devonshire-Ellis, Posted: 26th March 2014 09:00
The ASEAN 5 – the large trading countries of Singapore, Malaysia, Indonesia, the Philippines and Thailand – last year achieved Foreign Direct Investment inflows of some US$128.4 billion, overtaking that of China at US$117.6 billion, according to figures released by Bank of America Merrill Lynch (BAML) last week. That US$128.4 billion represented a 7 percent year-on-year increas ... Read more...

Innovation & Opportunities in Islamic Finance

By Robin Bayley & Barry Cosgrave, Posted: 25th March 2014 08:45
As the global recovery begins to take hold and confidence returns to financial markets, Islamic Finance has returned to prominence.  A number of entities, often from markets and industries that had not previously considered Sharia-compliant funding structures, are exploring the opportunities that Islamic finance may present – most notably the UK government.  However, th ... Read more...

When Expert Valuations are Invaluable

By Mark Ashburn, Posted: 18th March 2014 08:58
Separations are a nightmare.  Whether you are going through a divorce or breaking up a partnership, dividing up assets can be difficult and stressful.  This is true enough of something like a second hand car where a value is easily obtained but what about assets where the value is harder to agree? Whether as a result of a shareholder dispute, dividing u ... Read more...

Paraguay: Company Formations

By Oscar A. Mersan , Posted: 11th March 2014 09:06
Paraguay, according to United Nations Conference on Trade and Development (UNCTAD) World Investment Report 2013, occupies 10th place within the top 20 economies with the best return for each dollar invested with 17% return.  With this FDI - Foreign Direct Investment rate of return on investments - Paraguay is the second best positioned in South America, behind only ... Read more...

Looming Trust Fund Default Increases Scrutiny of China’s Financial Industry

By Dezan Shira & Associates, Posted: 11th February 2014 08:41
A looming trust product default of 3 billion RMB (approximately US$500 million) recently raised concerns about the regulatory system of China’s financial industry. The product in question was issued by China Credit Trust Co., with funds mostly invested in the assets of an unlisted Chinese coal company that has subsequently gone into liquidation.   The s ... Read more...

How the Collapse of Emerging Markets Could Affect Western Businesses

By Webb Ward, Posted: 4th February 2014 08:50
Emerging markets in the world are drying up. For starters, there are less emerging markets for businesses in the West to invest in. Secondly, it is hard for emerging markets to recover when the global economy is still slumping on some level. These markets are, however, vital to the growth of economies in the West for a variety of reasons. How can the collapse of emerging markets hurt businesses in ... Read more...

Buying Import & Export Violations: Successor Liability Risk & Its Impact on the Bottom-line

By Adrienne Braumiller, Bruce Leeds & Ashley McCauley, Posted: 14th January 2014 09:17
When you think of mergers and acquisitions, what are the highest risk areas that spring to mind?  While companies routinely understand and prepare for liability pertaining to tort litigation, taxes, and contract disputes, the same companies often overlook potential liability for violations of import and export laws.  Unfortunately, this can prove to be one of the most expensive o ... Read more...

2014 Asian Stir-Fried Prawn Index

By Chris Devonshire-Ellis, Posted: 13th January 2014 09:11
When it comes to making comparisons across Asia, and especially the various regional economies, a difficulty is in choosing a commodity familiar to all within this massive region. Typically, housing prices, cost of labor and even mobile phone penetration or the famous Mars Bar Index are used to demonstrate how economies and regional prices vary against the same product. Having given this some thou ... Read more...

Asia-Pacific Moves Closer to Regional Economic Community

By Dezan Shira & Associates, Posted: 30th December 2013 13:31
On Friday December 20, thirty-six Asia-Pacific nations unanimously adopted a landmark declaration outlining a roadmap towards a regional economic community.   Deemed a “historic and defining moment” in the history of the UN Economic and Social Commission for Asia and the Pacific (ESCAP), the signing of the Bangkok Declaration on Regional and E ... Read more...

China to Push Forward Interest Rate Liberalization

By Dezan Shira & Associates, Posted: 17th December 2013 08:47
The People’s Bank of China (PBOC), China’s central banking authority, promulgated the “Interim Measures on Administrating Interbank Certificates of Deposit (PBOC Announcement [2013] No.20, hereinafter refered to as ‘Interim Measures’)” over the weekend as a guideline for financial institutions issuing and trading certificates of deposit ( ... Read more...

The Future of E-Commerce in Asia-Pacific

By Dezan Shira & Associates, Posted: 10th December 2013 08:47
A recent report by Forrester Research Inc. predicts that business-to-consumer online retail sales (e-commerce) in the Asia-Pacific region’s five largest markets will soon surpass sales in North America and Europe combined.   Most notably, e-commerce in China and India is expected to grow rapidly between 2014 and 2018.   ... Read more...

Islamic Mutual Fund in Canada Celebrates Important Anniversary

By Jeffrey S. Graham, Posted: 9th December 2013 08:53
The universe of activities in Canada that involve Islamic finance continues to grow.  There are an increasing number of institutional initiatives that complement the long standing efforts of private entrepreneurs and investors in Canada who are committed to the ensuring that their commercial and financial activities are conducted in accordance with the principles of Islamic commercial law ... Read more...

Leasing: A Useful Financial Instrument in Economic Development

By Martin Serkovic, Posted: 6th December 2013 09:41
As the economy keeps on growing in Peru, financial leasing has become one of the best modern financing tools to own or make use of necessary equipment in order to participate to new projects.    Leasing?   The leasing basically consists in a financing instrument that has become, in Peru, inc ... Read more...

New Economic Zones to Boost China-Vietnam Trade

By Dezan Shira & Associates, Posted: 5th December 2013 09:20
Vietnam and China have signed a memorandum of understanding (MoU) that will create four new economic zones along the Vietnam-China border by 2020.   Requiring US$2 million for planning and development and US$200 million for infrastructure construction, the MoU for the project was signed yesterday by Vietnam’s Industry of Trade and China’s Mini ... Read more...

Close-out Netting Developments in Romania and Worldwide

By Andreea Toma & Cristina Togan, Posted: 4th December 2013 10:11
Since the 1990s, close-out netting has become one of the most important methods used in the financial markets for the reduction of counterparty credit risk, as it allows market participants to reduce their outstanding mutual obligations to a single net exposure in relation to each of their counterparties   How Does Close-out Net ... Read more...

Singapore Court of Appeal Rules In Favour Of Bank

By Cheng Hock Ang & Xeauwei Tan, Posted: 3rd December 2013 08:42
In the recent decision in Deutsche Bank AG v Chang Tse Wen, the Singapore Court of Appeal overturned the High Court’s decision which allowed a counterclaim against Deutsche Bank (the “Bank”) by Dr Chang Tse Wen (“Chang”) for damages in the sum of about US$49 million and allowed the Bank’s claim to recover approximatel ... Read more...

China Regional Focus: Urumqi, Xinjiang

By Lisa Quach, Posted: 25th November 2013 10:23
Located on the eastern frontier of Central Asia, Urumqi is the capital of China’s Xinjiang Uyghur Autonomous Region. Urumqi, which means “beautiful pasture” in Mongolian, is also the most remote city from any sea in the world. Despite this fact, the city thrived as a trading hub along the Silk Road during the Tang and Ming dynasties. Today, with its large coal reserve ... Read more...

How to Negotiate Successfully With the Debtors for Debt Settlement?

By Alan Starc, Posted: 12th November 2013 15:30
Like most people out there, you too have some undesirable debts and it seems that you are almost burdened with them badly.  Instead of giving it up completely, you can try out some smarter methods like that of debt settlement.  In the present unstable economic condition, almost all the creditors are open for debt settlement and you just need to do it efficiently to profit as much ... Read more...

China Passes U.S. to Become World’s Top Oil Importer

By Dezan Shira & Associates, Posted: 28th October 2013 09:04
According to the U.S. Energy Information Administration, last month China imported more oil than any other country in the world, including the United States. China had to import 6.30 million more barrels of oil than it produced domestically, while the United States only imported 6.24 million barrels.   China’s new status will have a number of important ... Read more...

Australian Economic Outlook –Fissures in the Open Cut Mine

By Martin Fowler, Posted: 7th October 2013 08:46
In September the Australian public elected a new Liberal/National Government.  The change of government, whether coincidental or not, has already had a profound impact on confidence.  In anticipation of a LNP victory The NAB business confidence survey held just before the election recorded its highest level since May 2011.  Similarly, the Westpac-Melbourne Institute Sept ... Read more...

Cat Bonds - A Canadian Perspective

By Robert McDowell & Koker Christensen (Fasken Martineau DuMoulin), Posted: 4th October 2013 09:08
There have recently been some noteworthy events in Canada relating to catastrophic risk that suggest the circumstances are increasingly right for the development of a Canadian cat bond market.(1) First, there have been significant natural disasters, which highlight the devastation that natural catastrophes can wreak and the corresponding potential for large insured losses.  T ... Read more...

Setting Up a Wholly Foreign-Owned Enterprise in China

By Eunice Ku, Dezan Shira & Associates, Posted: 24th September 2013 13:47
A wholly foreign-owned enterprise (WFOE) is a company established in China according to Chinese laws and wholly owned by one or more foreign investors. A WFOE is a limited liability company, meaning that the liability of the shareholders is limited to the assets they brought to the business. Unlike the simpler representative office setup which is subject to a number of limitations, a WFOE can make ... Read more...

The Use of Parallel Debt in South East Europe

By Damian Simeonov, Posted: 20th September 2013 08:48
In syndicated lending a group of lenders makes a loan to a borrower (or a group of affiliated companies).  Syndicated lending allows a lender to sell its participation in the loan to another lender at any time.  This means that the originals lenders that made the loan may change from time to time, and this raises the question of how to structure the security for a syndicated loan ... Read more...

The Falling Rupee Ushers in India as a Global Trade Dynamo

By Chris Devonshire-Ellis, Posted: 9th September 2013 09:22
Foreign investors making surprise returns on investment, cheaper rupee good for exports   With the Indian rupee falling to a record low of 65 against the U.S. dollar, there has never ... Read more...

World's Leading Financial & Trusts Centres

By Francis Hoogewerf FCA, Posted: 3rd September 2013 10:15
Introduction   Luxembourg is a small country situated in the very heart of Europe and whose influence should not be underestimated.  Having borders with France, Germany and Belgium Luxembourg provides a high skilled multilingual workforce, high quality of services and sound basis for business activity.  Luxembourg is ... Read more...

Europe's Mid-Market Explores New Funding Sources

By Taron Wade, Associate Director, Corporate Ratings & Alexandra Dimitrijevic, Managing Director, Standard & Poor’s Ratings Services, Posted: 10th July 2013 10:52
The funding landscape for European mid-market businesses is changing rapidly.  As banks deleverage across Europe, the treasury and finance departments of mid-market companies – defined as companies with revenues between €100 million and €1.5 billion and outstanding debt between €50 million and €500 million – must look outside traditi ... Read more...

Islamic Finance in Oman - New Horizons for Growth

By Anthony Watson, Posted: 21st June 2013 10:04
Islamic banking and finance emerged as one of the fastest growing segments within the financial services industry in Oman in 2012.  Eighteen months after Oman’s head of state Sultan Qaboos bin Said Al Said, issued a decree authorising the establishment of Islamic banking, in December 2012 the Central Bank of Oman issued the Islamic Banking Regulatory Framework (IBRF).  ... Read more...

Payday Lending Against Traditional Lending

By Alan Starc, Posted: 23rd May 2013 08:32
Payday loans today have emerged as one of the most availed options by borrowers for meeting urgent needs relating to health care, house rent, electric bills, educational needs etc.  Actually they are left as one of the most convenient options today when borrowers need to attend to their needs fast.   Applying for a normal bank loan would mean that you wi ... Read more...

China Regional Spotlight: Lanzhou, Gansu Province

By Yao Lu, Dezan Shira & Associates, Posted: 20th May 2013 08:49
Lanzhou, once known as the “Golden City,” has been an important regional commercial center and transportation hub since as early as the Han Dynasty. The city used to be a major link on the ancient Silk Road and has played a vital role in the cultural and economic exchange between China and countries to its west throughout Central Asia, the Middle East and Europe. Today, Lanzhou ... Read more...

Current Landscape for Islamic Finance and what the Future Holds

By Matt Garfield, Posted: 29th April 2013 08:52
Banking in a manner that is acceptable in keeping with Islamic principles has led to a healthy and growing alternative system to the conventional financial models widely in use throughout the Western world.  Best known amongst those outside Islamic banking circles for using methods of lending that do not charge interest (Riba), Islamic finance is essentially a more ethical way of conducti ... Read more...

China and Iceland Sign Free Trade Agreement

By Dezan Shira & Associates, Posted: 22nd April 2013 08:59
A free trade agreement (FTA) between China and Iceland was signed in Beijing on April 15, witnessed by the Premier of China Li Keqiang and the Prime Minister of Iceland Johanna Sigurdardottir. Iceland is the first European country to enter into an FTA with China.   The China-Iceland FTA covers trade in goods and services, investments, and various other areas. Spe ... Read more...

China-Singapore Sign RMB Cooperation Deals

By Dezan Shira & Associates, Posted: 17th April 2013 08:39
The People’s Bank of China (PBC) and the Singapore Branch of the Industrial and Commercial Bank of China (ICBC) signed the RMB Clearing Agreement on April 2, which allows financial institutions in Singapore and China to conduct cross-border RMB settlements through clearing banks, in addition to the agent banks.   In February this year, the PBC appointed ... Read more...

Australian Economic Outlook: April 2013

By Martin Fowler, Posted: 12th April 2013 10:13
The Australian economy grew by 0.6% in the December quarter and by 3.1% over the year. Mining was the largest contributor to growth over the year (0.9 percentage points (pp)), followed by Financial Services (0.4pp) and Health Care and Social Services (0.4pp). Household consumption rose by 2.8% over the year, below the longer run average of 3.4%. The strongest gains in th ... Read more...

International Economic Outlook: April 2013

By Martin Fowler, Posted: 10th April 2013 09:09
Cyprus and the Eurozone   The fragility of the Eurozone crisis has once again captured the attention of the world as the citizens of Cyprus come to terms with recent events.  Until recently Cyprus had a thriving economy with a prosperous tourism and shipping industry as well as a reputation for a tax haven that attracted Russ ... Read more...

Establishing a Trading Company in China

By Eunice Ku and Rosario Di Maggio, Dezan Shira & Associates, Posted: 5th April 2013 09:37
When an international company has reached a certain level of success in selling to or trading with China, or simply wants an on-the-ground presence in the country, it is common that a trading company is established in the form of a foreign-invested commercial enterprise (FICE).   The FICE structure has become the most common type of legal entity that foreign inve ... Read more...

Western China, New Powerhouse for China’s Economy

By Dezan Shira & Associates, Posted: 15th March 2013 10:12
With the introduction of China’s “Go West” policy in 1999, the country’s western region entered into period of consistently elevated economic development.   The ‘Go West’ policy covers 12 provinces and cities in the western part of China, namely:   ... Read more...

Central China on the Rise

By Dezan Shira & Associates, Posted: 18th January 2013 09:42
Located in the heart of central China, Hubei Province’s capital city of Wuhan has traditionally been one of the country’s most important economic and transportation centers. However, with the introduction of the reform and opening-up policies starting from the late 1970s, Wuhan, like much of Central and West China, fell behind in the wave of economic growth that brought prosper ... Read more...

The New Financial Conduct Authority – Will it have the Guts to Cap Pay Day Loans – and Should It?

By Elliot Shear & Lucy Nash, Posted: 16th January 2013 10:13
The Financial Services Act which received royal assent at the end of last year looks to deliver a fundamental shake-up of financial regulation in the UK.  The new system will give the Bank of England macro-prudential responsibility for oversight of the financial system and, through a new, operationally independent subsidiary, for day-to-day prudential supervision of financial services fir ... Read more...

China’s Current Business Environment: It’s Not Tough, Just Comply

By Dezan Shira & Associates, Posted: 15th January 2013 09:44
Recent media commentary has been suggesting that the business environment in China has worsened for foreign investors over the past year. Although China is still evolving as an emerging market, I disagree with the basic premise that it is becoming tougher, and even unwelcoming, to foreign investors.   A sense of foreign investors being singled out for specific ab ... Read more...

Fraudulent Accounting Practices

By Bee Lean Chew, Posted: 10th January 2013 10:20
Polly Peck, WorldCom, Parmalat, Enron, Olympus, Lehman Brothers and most recently, Autonomy – all are cases of accounting fraud which have shocked the world.    This article looks to explore some of the accounting methods by which companies can manipulate the presentation of their financial results to achieve desired outcomes, sometimes for fra ... Read more...

The Rise of the Interim Change Manager

By Charles Russam, Posted: 27th November 2012 09:48
The UK may be coming out of recession, but many businesses still remain cautious when taking on new projects or looking at expansion.  As a result, many are reluctant to hire full time permanent staff at a senior level and more companies are turning to Interim Managers to bring in new skills and expertise, on a temporary basis.  Charles Russam, Chairman of Russam GMS, a ... Read more...

China to Join RCEP, Creating Massive Free Trade Area with ASEAN, India, and Japan

By Dezan Shira & Associates, Posted: 14th November 2012 09:29
China is set to commence negotiations to create a 16-nation trade bloc, known as the Regional Comprehensive Economic Partnership (RCEP), with its launch expected to be formally announced at the ASEAN summit in Phnom Penh later this month. The RCEP will include the 10 members of the Association of Southeast Asian Nations (ASEAN) plus China, India, Japan, South Korea, Australia and ... Read more...

Mauritius: Offshore Opportunities in 2012

By Graham Sheward, Posted: 7th November 2012 09:02
What factors are attracting companies and wealthy individuals to the Mauritius?    Mauritius is internationally recognised for its continuity of government and rule of law.  The island has enjoyed enduring political stability ever since gaining independence in 1968 with a democratically-elected government every five ... Read more...

Hong Kong’s Economic Standing Amid the Global Slowdown

By Dezan Shira & Associates, Posted: 22nd October 2012 08:43
Long known for its openness and dynamism, Hong Kong boasts one of the most advanced economies in Asia, and in the world. The city has been ranked the world’s most competitive economy for the second consecutive year by the International Institute for Management Development and the world’s freest economy for 18 consecutive years by Heritage Foundation. However, this open and free ... Read more...

Reforms in India: Government Clears FDI in Insurance and Pension

By Dezan Shira & Associates, Posted: 17th October 2012 08:49
The Government of India on October 4, 2012 approved moving the FDI cap in insurance to 49 percent while also approving the introduction of certain official amendments to the Pension Fund Regulatory and Development Authority Bill (2011). The decision has been taken by the Cabinet headed by the Prime Minister of India. Now, with the Cabinet approving the scheme, the Insura ... Read more...

Russia No Longer to Rely on Petro-Dollars

By Haider Ali, Posted: 11th October 2012 09:55
Since the recession has hit worldwide, states such as Russia have not featured so prominently in the media. With the United States bearing the brunt of a fiscal deficit that seems to be ever-widening and Europe in a perilous position facmg austerity measures, Russia has managed to navigate itself through a quagmire to safer economic shores.   They have provided t ... Read more...

Vietnam Promulgates Fiscal Stimulus Measures

By Dezan Shira & Associates, Posted: 10th October 2012 10:29
On August 21, 2012, Vietnam’s Ministry of Finance promulgated Circular 140/2012/TT-BTC (hereinafter referred to as “Circular 140”), clarifying the country’s 2012 fiscal stimulus measures which aim to resolve some of the present tax difficulties facing organizations and individuals. The preferential tax policies listed in Circular 140 include a 3 ... Read more...

Global Outlook – “Whatever it Takes”

By Martin Fowler, Posted: 4th October 2012 09:29
In late July, the European Central Bank (ECB) president, Mario Draghi, said that the ECB would do “whatever it takes to preserve the Euro (zone)”.  These comments were widely unexpected and were intended to allay fears of a possible breakup of the Euro Zone (EZ).  Despite the lack of detail, rhetoric won the da ... Read more...

Pension Obligations within Corporate Transactions

By Andrew Vaughan & Gavin Markham , Posted: 26th September 2012 12:21
Whether buying, selling or restructuring a business, pension schemes are likely to play a significant role within a corporate transaction.  Failure to fully understand the complex pension issues could end up being very costly, result in time delays or even become a potential deal-breaker.  Recent economic experience means that the vast majority of pension schemes are in a deficit ... Read more...

Non-Performing Loans In Ukraine: Not An Easy Matter

By Ihor Olekhov & Oleksandr Svyryd, Posted: 25th September 2012 08:37
The Rationale Behind   The global financial crisis and its repercussions in Ukraine have revived an interest to transfer of loan portfolios from commercial banks to various structures.   For the last several years, we have noted an immense interest of Ukrainian commercial banks (including, in pa ... Read more...

Bank of England Set to Hold Tight With QE Measures

20th September 2012 08:49
The Bank of England yesterday announced that it would refrain from pumping more liquidity into the financial system despite it receiving some good news for the first time in months. They will be maintaining the interest rates at the record low it already stands at which is 0.5%   The Monetary Policy Committee, which is comprised of members from the bank itself ha ... Read more...

WTO China UnionPay Ruling Paves Way for Visa, MasterCard

By Yao Lu, Posted: 17th September 2012 09:46
The Dispute Settlement Mechanism of the World Trade Organization (WTO) has adopted the panel report on the United States vs. China UnionPay (CUP) Dispute, according to the WTO press release issued on August 31, 2012. China’s decision not to challenge the WTO ruling effectively brings the two year tug-of-war between the two nations to an end. In th ... Read more...

United Kingdom Climbs Global Competitive Market

By Haider Ali, Posted: 13th September 2012 09:40
The United Kingdom like much of the economically advanced countries in the west has suffered from a shifting focus of economic power towards eastern powerhouses like India and China. But based on the recent tables released by the World Economic Forum, which focuses primarily on the competitiveness of a state, the United Kingdom is slowly but surely making a dignified comeback. &nb ... Read more...

Distribution - What You Need To Succeed In The Swiss Financial Marketplace

By Daniel Häfele, Posted: 10th September 2012 10:05
Possibly it is the much-lauded political stability, or maybe it’s the fine view over Lake Zurich or the excellent chocolate that attract investors in droves to Switzerland.  In any case, the Swiss financial centre is attractive to both international and domestic investors alike.  At year-end 2010 assets under management in Switzerland totaled around Sfr 5,50 ... Read more...

India and China Discuss Avenues for Cooperation

By Dezan Shira & Associates, Posted: 3rd September 2012 09:04
India and China have initiated talks aimed at increasing mutual trade to US$100 billion by 2015 in a positive sign not only for India and China businesses, but also for the whole Asian community. This will open the doors to new investment opportunities in both countries as the two Asian economic giants have decided to set up a joint working group to address trade issues and also work o ... Read more...

August News in Brief: A Monthly Round-Up

By James Drakeford , Posted: 31st August 2012 09:37
August has picked up the baton to follow the same direction as months gone by with Barclays and the Eurozone continuing to dominate column inches around the world.  Throw in the mega-money court case between Apple and Samsung along with tension in the public sector in Brazil and you have got yourself an intriguing month of news.  Here is a brief round up of all the bi ... Read more...

Vietnamese Prime Minister Pushes for Uniform Framework for Investment Incentives

By Nhung Le and Huyen My, Posted: 28th August 2012 09:01
On July 20, Deputy Prime Minister Hoang Trung Hai issued a document (Official Dispatch No. 5336/VPCP – KTTH) directing the Ministry of Planning and Investment (MPI) to research and create a national framework for investment incentive categories and investment incentive areas. This followed a July 6 submission to the Prime Minister of reports compiled by MPI detailing the Ministry&rsq ... Read more...

Registered Capital in India

By Dezan Shira & Associates, Posted: 24th August 2012 09:30
 In India, the Companies Act of 1956 made rules and regulations for the establishment of both public and private organizations. The most widely used business form is the limited company, unlimited companies being comparatively rare. An organization is formed by registering the Memorandum and Articles of Association with the State Registrar of Companies of the state in which the head offic ... Read more...

Emerging Asia Looking Attractive As China Data Looks “Rushed”

By Chris Devonshire-Ellis, Posted: 21st August 2012 08:55
As Emerging Asia releases its Q1 figures, there are a whole bunch of stats that spring out, not least the continuing GDP growth throughout the region. However, digging deeper, some surprising trends seem to e developing concerning China and the neighboring countries that are increasingly competing with it. I’m the first to admit I’m not an economist, so readers may ... Read more...

July News in Brief: A Monthly Round-Up

By Haider Ali, Posted: 31st July 2012 08:49
July has been a hotbed for financial scandal, but an exciting month nonetheless that seen top executives forced out, banks hit with hefty fines for rate-rigging and links between top brass banks and criminal organisations being exposed.  We will be the first to admit we are intrigued to see where this will go in the months ahead, but for now here is a round up of all the big s ... Read more...

United Kingdom Heading Back Into Recession?

By Haider Ali, Posted: 24th July 2012 09:15
When the Conservative and Liberal Democrat coalition formed, one could forgive the pair for wanting to take a different approach to the economy.  The argument has been made by political pundits that they inherited an economy in tatters from the Labour government and this certainly has some credence.  New Labour under Tony Blair borrowed from the International Monetary ... Read more...

China-Hong Kong to Promote Further Liberalization under CEPA

By Yao Lu, Posted: 19th July 2012 08:43
To enhance cooperation between Hong Kong and Mainland China in the services sector, and to facilitate mutual economic development, the Chinese central government and the government of the Hong Kong Special Administrative Region signed the “Ninth Supplement to the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) (hereinafter referred as ‘the Ninth Supplement ... Read more...

Iran Still In Business

By Haider Ali, Posted: 17th July 2012 08:58
Contrary to popular belief, Iran has demonstrated remarkable resilience to sanctions that were imposed on them by the United States. Many have stated the belief that the sanctions are crippling Iran’s ability in financial markets, especially after countries were left with facing hefty fines for dealing with Tehran’s central bank. Oil shipments were expected to dry u ... Read more...

Global Outlook – Live & Let Die

By Martin Fowler, Posted: 12th July 2012 09:49
In June the world watched as the Greeks went to the polls to elect a new government.  The choice was clear, a win by the left wing Syriza party would effectively lead to Greece exiting the Eurozone (EZ) and going back to the Drachma, while a win for the conservative New Democracy party would be a vote to maintain the status quo.  A narrow victory by the coalition gove ... Read more...

Sir Mervyn King Condemns Banks Following Controversy

By Haider Ali, Posted: 4th July 2012 09:55
It hardly comes as a surprise that the fleet-footed banker managed to offer his two pennies worth on the latest scandal to hit Britain’s banks.  Not only did he manage to present an opinion on the debacle but he managed to rub noses the wrong way with his complete and utter drivel.  Of course one should get used to him delivering the coup de grace to people& ... Read more...

Global Impact of a China-Japan-South Korea Free Trade Agreement

By Joshua Gill, Posted: 3rd July 2012 09:23
Last month, at the Fifth Trilateral Summit between China, Japan, and South Korea the three countries jointly announced their intent to begin negotiations on a trilateral free trade agreement (FTA) by the end of 2012. The announcement raises questions not only about the impact of the successful negotiation of such an agreement, but also about its feasibility. ... Read more...

Jamie Dimon Smug In The Face of Senate “Grilling”

By Haider Ali, Posted: 27th June 2012 09:51
The Chief Executive was supposed to face an interrogation of sorts from senators comprised of both sides of the political spectrum looking for an explanation behind the two billion dollar trading loss by JP Morgan.  Instead we were left with a man at the peak of his powers in the financial world walking away with his reputation unblemished and feckless politicians illustrating ... Read more...

Unlock cash tied up in your assets

By Mark Qualter, Posted: 28th March 2012 09:48
The Invoice Finance industry continues to enjoy considerable growth, with recent figures from the Asset Based Finance Association showing that firms which use invoice finance are enjoying continued strong growth in their sales, up 13% to year end 2011.  Total client turnover in 2011 for companies using invoice finance reached £238bn.  Although it is now much mo ... Read more...

China’s Local Debt Problems May Mean Further Privatization

By Dezan Shira & Associates, Posted: 27th March 2012 10:55
China will resort to “market-oriented” measures to tackle its local debt issues, Chinese Premier Wen Jiabao said at a press conference last Wednesday after the closing of the Fifth Session of the Eleventh National People’s Congress. Wen’s remarks have signaled that China may allow more private investors ... Read more...

Citibank Permitted to Issue Credit Cards in China

By Dezan Shira & Associates, Posted: 22nd February 2012 10:32
Greater market access to China’s banking industry on the road ahead? U.S.-based financial services corporation Citigroup announced on Monday that it has obtained government approval to issue its own credit cards in China. It is hoped that Beijing’s recent decision indicates that the country will be more willing to ... Read more...

Shadow Banking by Investment Funds

By Steven T. Kolyer, Posted: 13th February 2012 09:52
The scope and volume of credit and credit intermediation services being provided by banks and banking institutions has been going through a period of stress and contraction while the need for such services continues to exist and, in many markets, grow.  Opportunities exist, and will continue to expand, for non-banks – particularly private, unregulated funds a ... Read more...

China Urges Financial Industries to Serve Real Economy

By Dezan Shira & Associates, Posted: 3rd February 2012 11:26
The two-day financial planning meeting held over the past weekend in Beijing has provided direction for China’s financial sector during the next five years. As part of the plan, financial industries will be used to serve the real economy, offering more credits to productive businesses that actually create most of the country&rsqu ... Read more...

Lebanon moves forward in times of global economic turmoil

By Carlos Abou Jaoude, Posted: 4th January 2012 09:33
“When the going gets tough, the tough get going” best describes the exemplary immunity of Lebanon’s banking system to the recent global financial crisis.  Acute activity slowdown in regional and global markets was met with increasing FDI (foreign direct investment) inflows to Lebanon equivalent to 12.6% of ... Read more...

Cautious Optimism for Equity Markets in Japan

By Piyasena C. Perera, Posted: 27th December 2011 13:24
Financial news from Japan has been predominately grim for the past two decades, and the interest of global investors has shifted to China and other emerging markets. Yet, things may not be as dire as they seem.  Despite recent travails, Japan is still a leading industrial country with a considerable number of profitable and i ... Read more...

Banking & Finance in The Netherlands

By Bart P.M. Joosen, Posted: 21st December 2011 11:13
Current status of implementation CRD II/CRD III It is expected that effective 1 January 2012 a number of further amendments to the Dutch Act on Financial Supervision (“AFS”) and to lower Governmental Decrees will enter into force in order to meet the implementation requirements pursuant to th ... Read more...

Tax Rates in Hong Kong

By Dezan Shira & Associates, Posted: 19th December 2011 10:59
As the Global Financial Crisis rumbles on, with certain reduced growth rates on the horizon for Europe and the United States, multinationals are looking elsewhere to achieve their business goals. Asia, a region riddled with wars and ineffective economic policies for much of the past century, has finally stepped into the front line of global trade and com ... Read more...

World Bank Forecasts 6% Growth for Vietnam in 2012

By Dezan Shira & Associates , Posted: 13th December 2011 09:19
According to the report East Asia and Pacific Economic Update released by the World Bank on November 21, Vietnam’s gross domestic product (GDP) will increase 6.1 percent next year. The recent forecast confirms Prime Minister Nguyen Tan Dung’s expectations of 6 percent to 6.5 percent growth for 2012, which he announced at the opening session of a biannual meeting of the ... Read more...

Shadow Banking Poses Hidden Risks to China’s Financial Sector

By Cindy Tse, Posted: 8th December 2011 10:05
Concerns over China’s overextended debt are being amplified by persistent warnings of a looming fiscal crisis from China’s massive “shadow” financing market. This aptly named financing market is generally understood to be “gray” credit extended through informal or non-banking ... Read more...

Fluctuations in India’s Rupee Rate and its Impact

By Dezan Shira & Associates, Posted: 5th December 2011 10:17
After depreciating to a record low of 52.73 against the U.S. dollar on November 22, the Indian rupee (INR) rose in value to 51.206 per dollar on Friday to complete the currency’s first weekly advance since October. The Indian rupee is under great stress as overseas investors ar ... Read more...

Ukraine: Financial Regulators Strengthen Supervisory Rules

By Ihor Olekhov, Posted: 27th October 2011 11:43
Recent amendments to laws governing financial services in Ukraine will have serious implications for the shareholders of Ukrainian banks and Ukrainian non-banking financial institutions and their related parties. On 19 December 2011 the three Ukrainian financial regulators (the NBU, the NSEC and the FSMC) will become endowed with new ... Read more...

German Debt Restructuring: Recent Trends And Developments

By Patrick Ziechmann and Stefan Schwertel, Posted: 12th October 2011 09:47
In 2009, the German economy was hit hard by the worldwide economic and financial crisis.  Like most other industrial economies it suffered the biggest economic downturn for decades. However, the German economy was able to recover relatively quickly.  Short-time work, the ‘cash-for-clunkers-program’, a strong export market and increased private consump ... Read more...

Macroeconomic Evaluation of China’s Consumers

By Simon Sheung and Lena Xia of Asia Briefing, Posted: 16th September 2011 10:10
With China’s economic rise, a new type of consumer is being born. Incomes are rising, consumers are feeling increasingly optimistic about their financial futures and new consumer demographics are emerging. The Global Financial Crisis in 2008 had caused economic downturn in most of the world, yet it did virtually nothing to c ... Read more...

The Canadian Banking Industry: Strength in the Face of Economic Turbulence

By Eric Belli-Bivar with Megan Filmer & Andrew Lloyd, Posted: 28th July 2011 11:08
The Canadian Banking Industry While the Canadian economy has not escaped the recent global financial crisis completely unscathed, comparatively speaking, it has emerged in an enviable position.  A significant factor contributing to this achievement is the relative strength of Canada’s ba ... Read more...

Recent developments in the Turkish Finance sector

By Cagri Goktas, LL.M , Posted: 18th May 2011 19:56
Overview of the Turkish Financial Sector Turkey has a heavily regulated financial market and the applicable rules and regulations are compatible with the rules of the Financial Services Authority in the United Kingdom.  Since 2001, the date the Turkish economy suffered a banking system driven economic crisis, the regulations and rules surrounding the financial ... Read more...

SME’s guide to raising finance

By E.L. Kateb, Posted: 29th March 2011 23:46
With the government stating the small to medium sized enterprise sector (known as SME’s) being a driving force of economic recovery, it will prove to be important times for these businesses.  The following article aims to highlight the alternative forms of finance available to such companies. With no single accepted definition of an SME, generally it ... Read more...

Alternative methods of raising finance for Middle Market companies

By E.L.Kateb, Posted: 29th March 2011 23:34
  At times businesses may need a bit of a helping hand usually in the form of raising finance whether they are expanding or going through tough times.  Finance raised can be used for: Working capital, acquisition of other firms, R&D, increasing stock, training and staff development or marketing amongst others ... Read more...