Known for its centuries old tradition of bank secrecy, Swiss banks are constantly lambasted for being the private bankers of dictators and plunderers. Cash, jewelry, paintings, gold bars and items of value that are believed to have been looted from poor economies, through the ages, are said to be kept in Swiss banks. As a […]
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US Plans Tax Rebates
In order to avoid recession, President George Bush proposes a tax rebate for low and middle income Americans. At this point, there is an ongoing argument whether the rebate should be given to all Americans or only to families with a combined annual income of US$100,000. Bush is expected to elaborate on this plan during […]
California: Decrease spending, no tax increase
In what seems like an uphill battle against the budget, Governor Schwarzenegger proposes a 10% across the board cut in spending. This will mean a sharp decrease in payments to schools, the closing of several state parks, early release of low risk inmates, etc.Â
Faced with stiff opposition, the governor urges the state to be responsible […]
Only 30% of Expats have Offshore bank Accounts
A recent study revealed that 92% of expats use the internet to access their bank accounts but only 30% have offshore bank accounts. Because of that, most of them are unable to benefit from the advantages of offshore savings accounts such as higher interest rates, low taxes, etc.
Most expats prefer bank accounts that are accessible […]
Hongkong Bourse Continue Rampage
In the final trading day for the year, Hongkong’s stock market madly went after bargain blue chips giving a new variant to the term Christmas shopping. As a result, the index climbed to a record breaking year 37% increase.
The market corrected a bit too much on Friday over fears that China will implement credit tightening […]
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