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By Iain Manley. It has been a busy period for the China's currency. At the end of April, HSBC issued a three year, unsecured renminbi denominated bond. Initially slated to raise one billion yuan, demand outstripped HSBC's expectations: bonds worth two billion yuan were sold, and even then more than half the potential buyers - adding up to total demand of 4.25 billion yuan - were left disappointed. HSBC's was not the first renminbi denominated bond to be issued outside of China this year. Just a month earlier, in March, the Dubai-based bank Emirates NBD issued the Gulf's first renminbi...

REPORTS 2020

Aluminum, which is so cheap now that it is used to make cans and cooking utensils, wasonce more valuable than gold. At a banquet, the Emperor of France, Napoleon III, gave his most honored guests aluminum cutlery, while everybody else had to make do with silver. Aluminum bars were exhibited alongside the French crown jewels at 1855's Exposition Universelle and the pyramid set atop the Washington Monument is made of 100 pure ounces of the metal. Aluminum was valuable because it was exceedingly difficult to extract from ore, but in 1886, with invention of the Hall-Héroult process, its supply exploded...

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The financial crisis has been good to gold. When the world's financial markets went into a tailspin in August 2008, the price of the precious metal dipped briefly, but a few months later it started to climb. By July 2011, it had more than doubled.  Gold was charting record highs, because investors were buying it up as a safeguard - a hedge against post-crisis uncertainty. The euro was on the ropes - some were calling the future of the currency hopeless - and at some stage the quantitative easing and near-zero interest rates governments had implemented to combat the crisis...

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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...

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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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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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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...

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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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