Archive | April, 2004

Investing Offshore With Portfolio Bonds

The Portfolio Bond can be considered as a simple holding structure through which the investor (or his/her adviser) can direct the insurance company to invest in a wide range of investment vehicles such as stocks, bonds, mutual funds, or cash deposits. The underlying investments can be freely selected. Any investment can be held in the […]

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Spying software watches you work

Spyware has infected almost all companies polled for a survey about web-using habits at work. Nine out of 10 of the technology managers questioned said machines at their firm had programs that spied on the browsing habits of staff. The computer staff estimated that, on average, 29% of work PCs had spyware surreptitiously installed on […]

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UAE Keen To Provide Anti-Money Laundering Assistance

by Lorys Charalambous, for LawAndTax-News.com, Cyprus Speaking at the Global Banking Strategy Summit recently held in Dubai, Abdulrahim Mohamed Al Awadi, assistant executive director in charge of the UAE Central Bank’s Anti-Laundering and Suspicious Cases Unit announced that the UAE is willing to provide assistance to other countries looking to draft new anti-money laundering legislation […]

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Caribbean annexation not a priority for Canada

MONTREAL, Canada: Canadian Foreign Affairs Minister Bill Graham poured cold water Thursday on the prospect of Canada being linked with the Turks and Caicos Islands, CanWest News Service reports. A political union with the Turks and Caicos is not a priority for the Martin government, Graham told the Montreal Gazette’s editorial board. “Trying to find […]

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Congress weighs tax `holiday’ for firms’ foreign cash

By Jim Puzzanghera and Mark Schwanhausser, Mercury News WASHINGTON – A trove of money belonging to large multinational U.S. companies such as Hewlett-Packard, Intel and Oracle — as much as $600 billion — sits buried in foreign countries around the world. Many in Congress want to lure it back to America to boost the recovering […]

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Company’s offshore tax strategy led to financial woes

Associated Press Investment in an offshore tax shelter that was later disallowed became a key factor in sending Metropolitan Mortgage & Securities into a financial tailspin, a newspaper reported. Using the offshore investment strategy advised by its accountants, Metropolitan cut its 1999 income taxes by $17.9 million. That helped it post a $16.3 million profit […]

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Buy Japan Now

By Michael Maiello Peter Cundill has seen false dawns in the nightmarish Japanese market before. The last one was in 2001. But the Canadian money manager is indifferent to the overall state of the Nikkei, down 56% since its late-1989 peak. It’s enough for him that Japan is a place where malaise has long ruled […]

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Fidelity unveils another 25 offshore funds

By Genevieve Cua FIDELITY Investments has launched another 25 offshore funds here, bringing to 58 the total number of funds available for retail investment in Singapore. The 58 funds collectively represent some US$40 billion in assets, domiciled in Luxembourg. As if the range of choices wasn’t bewildering enough, the new entrants include esoteric single region […]

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Latin American Embezzlers Feeling Chill in Miami?

By Michael Christie MIAMI (Reuters) – Corrupt Latin American leaders who for decades have stripped their impoverished countries bare and parked the pilfered public money in Florida condos and banks are no longer finding sultry Miami such a warm place. A new Immigration and Customs Enforcement (ICE) task force, set up to go after the […]

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Few Asians among world’s top 50 richest

By NEIL BEHRMANN Only Brunei sultan, HK’s Li Ka-shing, Kwok brothers on Sunday Times’ list THE Sultan of Brunei, Li Ka-shing and the Kwok brothers of Hong Kong are the only Asians listed in London’s Sunday Times’ top 50 richest individuals in the world. The Sultan with estimated wealth of 7.7 billion (S$23.17b) is listed […]

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