Prudential, the UK-based, international insurance giant, has been given the go-ahead in principle from Cambodias Ministry of Economy and Finance to establish a wholly foreign-owned life insurance operation in the country.
Aviva could close or sell-off up to 15 businesses as part of a strategic review, according to reports.
The Monetary Authority of Singapore (MAS) and the Peoples Bank of China (PBC) have signed an agreement on the establishment of a representative office by MAS in Beijing.
Coutts has appointed Armando Rosselli as executive director, head of tax and wealth structuring (TWS) international, joining today from Credit Suisse.
Acordias, the London-based, offshore-focused investment platform provider, is relocating to the Isle of Man, as it seeks to better establish itself in the offshore market that it exclusively caters for.
Former HM Revenue & Customs (HMRC) inspector Peter Howarth, who runs a UK-based tax consultancy and advises expats in Spain, has claimed that Spains tax authority – Hacienda – is pursuing those with bank accounts in tax havens which they have failed to declare.
The Internal Revenue Service has announced that it will help American citizens based overseas to catch up on Reports of Foreign Bank and Financial Accounts, in an apparent softening of its stance on the timely filing of US federal income tax returns.
HSBC Holdings, the London-based banking giant, has sold stakes in two Indian banks for around $425m.
Gibraltars Financial Services Commission has announced the creation of a Funds Panel, after recent changes to its laws which are designed to bolster its appeal as a fund jurisdiction, particularly following the introduction of the Alternative Investment Fund Managers Directive.
With tax avoidance high on the media agenda, Jersey Finance CEO Geoff Cook calls for a simpler tax system which provides greater certainty for all parties.
Lyxor Asset Management has launched two risk-balanced ETFs on NYSE Euronext Paris, the first of a range the firm is planning that are based on a new generation of “smart indices” which balance their component assets according to risk.
The UK economy may be stagnating, but exports of British crime are booming, according to the latest figures from the Foreign & Commonwealth Office. Some 6,000 British nationals were arrested overseas during the past 12 months, with more than half detained in Spain and the US.
