The influx of family offices handling money of Chinese origin has slowed in the wake of Singapore’s multibillion-dollar money-laundering scandal
Tighter checks for new applicants are partly to blame – but the city state’s elevated property prices and higher stamp duty aren’t helping, either.
In Singapore, the growth of Chinese family offices has been slowing amid the fallout from last year’s multibillion-dollar money-laundering scandal and tighter checks on new applicants.
More than S$3 billion (US$2.2 billion) in assets have been seized so far in connection with the sprawling case, which first hit the headlines in August last year when 10 China-born suspects were arrested.
Around 50 demonstrators gathered at the entrance of the COP29 venue this morning, urging wealthy nations to uphold their financial commitments for climate change adaptation and mitigation in the Global
An innovative plan to use public money to back renewable energy loans in the developing world could liberate cash from the private sector for urgently needed climate finance. Avinash Persaud, a special
Developing nations, notably China and India, clashed with richer countries over the inclusion of ‘unilateral trade measures’, such as the EU’s carbon border tax, in the UN climate
Cyprus is preparing a sweeping tax overhaul that will broaden the tax base, toughen enforcement and ease the burden on households and businesses, officials familiar with the draft legislation said.