Industry
Finance minister floats Singapore wealth tax
Singapore’s rich could face a tax on their privately-held wealth if the city-state’s finance minister follows through on an off-the-cuff remark he made on Thursday, but analysts are worried it could negatively impact Singapore’s reputation.
Chinese asset manager becomes second biggest HSBC stakeholder
The asset management arm of China’s Ping An Insurance has become the second largest shareholder in HSBC after a recent acquisition pushed its stake over the 5% stock exchange notification threshold.
10 Chinese banks oppose new asset management rules
New rules from China’s Central Bank that look to tighten regulations in the asset management industry have reportedly been opposed by 10 national joint-stock banks.
International financial adviser hits £1bn milestone
International professional services firm Mazars is to add £300m in assets following the acquisition of RCL Consultancy from The Embark Group.
UAE questions US omission from tax haven blacklist
Dubai wealth managers have questioned why countries like the US and Switzerland have been left off the EU tax haven blacklist but the UAE has been included.