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Funds of passion

By John P. Egan In the past luxury funds did little to stimulate interest from investors, with many opting for shorter term traditionally higher return options such as equities, bonds and hedge funds.  However in the uncertain economic climate that emerged after the 2008 financial crisis, investors are increasingly looking for alternative methods of managing their wealth.  As a result, the luxury fund sector has experienced a new lease of life, with alternative funds emerging from the woodwork. These funds can involve investment in a wide variety of products including fine art, diamonds, rare musical instruments and vintage wines. A...
中文

Offshore Jurisdictions Praised For Adherence to Global Standards

Offshore centers continue their pursuit in attaining worldwide recognition and acceptance as an important and cooperative mechanism in the international investment system. A goal not reached cheaply for some. By Anas Almasri A recent initiative undertaken by the Financial Stability Board (FSB) to encourage the uniform adherence of countries to specific regulatory standards on international cooperation and information exchange concluded that many ffshore jurisdictions were in fact highly cooperative on such matters. The assessment was primarily focused on whether evaluated jurisdictions met the global standards in three areas: banking supervision, insurance supervision and securities regulation. The Board was essentially envisioned...
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Offshore Centers After The Financial Crisis

By Iain Manley. In November last year, Angel Gurría stood up at a meeting of the G20 in Cannes and announced the end of the era of bank secrecy.  His speech was reported by newspapers around the world, not only because Gurría is secretary general of the OECD, but also because the problem of how information is shared by the world's offshore centers has entered the mainstream. When the subprime mortgage crisis sunk Lehman Brothers in 2008, entire economies were dragged down with it. The news was as bad as the story was big, and as the press started to...
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Going out into the world

By Claire van den Heever. China's currency, strictly regulated since its introduction in 1948, is gradually being allowed to play a part in international markets. The renminbi - literally 'People's Money' - is steadily gaining popularity as a currency for trade settlement,  in financial markets, and even as a potential reserve currency, but China's government is reluctant to let go completely. At the beginning of the eighties, when Deng Xiaoping set in motion the economic reforms that would transform China into a free market economy, the renminbi was devalued to make Chinese exports more competitive. This was an era in...
中文

Ras Al Khaimah, an industrial Emirate turned offshore center

One of the UAE's most attractive and booming Emirates is reaping the benefits of reinventing itself as a financial offshore destination. By Anas Almasri. Ras Al Khaimah - commonly referred to as RAK - is the fourth largest Emirate of the United Arab Emirates, and is located in the northern part of the country bordering Oman on the Persian Gulf. Only a 45 minutes drive from Dubai, RAK is viewed by locals and foreigners alike as an escape from the hustle and bustle of its much busier neighbor. Famous for its long stretches of white sandy beaches, lovely mountains, and...
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Rediscovering Dubai:The City of Gold

After a temporary setback in 2009, Dubai has reclaimed its integral role in regional and global business. Its special financial centers and free trade zones are registering healthy growth and hold the key to ensuring the city's future success. By Anas Almasri. Dubai has worked tirelessly to reach the position it holds today as one of the most recognizable cities in the business industry worldwide.  Its undeniable contribution to international trade, regional and global investments, and business related services has granted Dubai its status as the business hub of the Middle East, connecting the whole region with the rest of...
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From Sand Dunes to Investment Oasis

The United Arab Emirates has successfully transformed itself from a desert to a state of the art international business center in just over 50 years. By Anas Almasri.Known for its ample resources as well as its extravagant and futuristic construction projects, the United Arab Emirates (UAE) has much more to offer than energy resources and tourism attractions, awe inspiring as they may be.  Over the years the country has seen great economic progress and today boasts one of the most developed economies in West Asia. Its name is derived from its seven constituent emirates, which are each ruled by an...
中文

Navigating Amidst Turbulent Times

Cavalier PRC Corporations Suffer Under US Market Scrutiny. By James Zhang. With the successful offshore initial public offerings (IPO) of the Big Four Chinese state-owned commercial banks and other influential colossal organizations, a reckoning comes into existence that the best companies in China don't bother to offer their shares at the mainland's two premature pandemonium bourses. The momentum for Chinese listings in the US over the past few years has been overwhelming. An awful lot of companies went public through reverse mergers, at which a private company goes public by merging with a public shell company. That allows firms to...