News

22.03.2017

Switzerland: immigrants billionaires like the Confederation

Hurun Report and Wailian Group on Tuesday released the Hurun Immigrant Billionaires List 2017, a ranking of the immigrant billionaires from around the world. The Hurun team of researchers extensively went through the Hurun Global Rich List 2017, pulling out all first generation immigrants, those who reside today in a country different to where they were born and/or brought up. This is the first year of the list and is a sublist of the Hurun Global Rich List 2017 series, released on 7 March. Hoogewerf said, "We believe this to be the first serious attempt to track the immigration status of the world's billionaires."

 
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22.03.2017

Money laundering: from Russia to UK trough Big Banks

HSBC, the Royal Bank of Scotland, Lloyds, Barclays and Coutts are among 17 banks based in the UK, or with branches here, believed to have processed almost $740 million on behalf of Russian money launderers with ties to gangsters and intelligence services, according a major investigation carried out by the Organized Crime and Corruption Reporting Project (OCCRP) and Novaya Gazeta, and reported by the Guardian. The figure was gathered by documents covering the years 2010-2014 showing at least $80 billion was moved out of Russia by an organisation called the Global Laundromat. Investigators are still trying to identify who is behind the nickname, but the task is difficult as the owners of offshore entities that moved money through the banks often kept their identities secret, the report noted, adding the documents include details of about 70,000 banking transactions, including 1,920 that went through UK banks and 373 via US banks.

 
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22.03.2017

Technical analysis : Kiwi remains flat on Tuesday

During the first half of Tuesday's trading session the New Zealand Dollar remained near the previous closing price of 0.7050 against the US Dollar. The currency exchange rate was prepped up by the 20-day SMA, which was located at the 0.7049 level and the lower trend line of a rather week medium term ascending channel pattern at the 0.7035 level. It is highly possible that the currency exchange rate will surge by the end of the day's trading, as the closest resistance level is located at 0.7082, where the weekly R1 is located at. However, a break of the resistance is unlikely, as the weekly R1 is strengthened by the monthly S1 at the 0.7090 level. 

 
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22.03.2017

A sunny sky, any clouds around?

The economic outlook is bright enough to warrant a pro risk investment stance. Our overweight equities/ underweight duration seems consistent with a firming of global growth and an unwinding of prior deflation fear. What could derail the recent rally of risky assets ? Europe Political Risk: A Le Pen victory in France cannot be ruled out even if odds are slim. It would undermine European political cohesion (weak as it is), and would impose a larger risk premium on euro-denominated assets. A Macron victory would signal diminishing political risk in Europe, as the French and German leadership would be committed to supporting the European Union and the single currency. We underweight French sovereign and financial assets in search for clarity.

 
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22.03.2017

Apple: special edition with Red iPhone

Apple has unveiled a new special-edition red iPhone 7, with a philanthropic decision,  the Cupertino-based company added a red special edition to the lineup. The new red aluminum finish, which is available to order for both iPhone 7 and 7 Plus in-store and online on March 24, is a fundraising effort for the Global Fund.  The additional colour option is part of Apple's Product Red campaign, a range of red products for which Apple makes a contribution from every purchase to the Global Fund for HIV and AIDS programmes. To date, Apple has generated over $130m through the project making it the organizations’s largest corporate donor, the company said.  

 
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21.03.2017

Chinese BTCC launched app to make bitcoin easier to use

Leading Chinese bitcoin exchange BTCC has announced the launch of a new global multicurrency wallet called Mobi. The app will be available on both iOS and Android platforms. Mobi offers in-app conversion of more than 150 global currencies, including dollar, euro, pound, gold and silver. It also enables users to send money to any Twitter account and phone number, as well as an optional Visa debit card. China-based BTCC is a Bitcoin company founded in 2011 that operates an online trading exchange, mints physical bitcoins, and now has entered the mobile payments market. 

 
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21.03.2017

GADGETS: VR versus AR, headsets that will take you to other worlds

Concerts, museums, surgical theatres: all have in common one thing, the use or potential use of virtual or augmented reality. More and more companies in all fields are studying how to use this technology, with celebrities jumping on board like Buzz Aldrin, who created a version of himself in space to show everyone how to reach Mars. Bands are using virtual reality to get in touch with their fans, who can now take part in concerts anywhere as long as both ends are equipped with the correct technology.

 
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21.03.2017

Big Nordic banks involved in money laundering fraud

Two of the Nordics' biggest banks, Nordea and Danske Bank, are involved in a money laundering scandal that involves billions of Danish krona, reports Berlingske.  They are cooperating with authorities over possible incidents of money laundering via their overseas branches from 2011 to 2014, it added. The Danish newspaper cites investigations into authorities in countries including Latvia and Moldova, which show that large amounts of money passed through Danish banks into tax havens like the Seychelles and Panama. The origin of the money is not certain, but sources point to Russian organized crime. Meanwhile, according to Berlingske, fourteen Moldovan judges have been arrested and are awaiting trial for aiding the perpetrators.

 
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21.03.2017

Bill Gates the richest man in the world, fourth in a row

Microsoft co-founder Bill Gates once again topped the Forbes magazine list of the world's richest billionaires, while US President Donald Trump slipped more than 200 spots, the magazine said on Monday. Gates, whose wealth is estimated at $86 billion, led the list for the fourth straight year; Gates's is followed by Warren Buffett, the American magnate, and Berkshire Hathaway chief with an estimated wealth of $75.6 billion. 

 
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21.03.2017

Swiss economy forecasts: good weather in 2017

Switzerland's economic growth projection for 2017 was downgraded as activity turned out disappointingly weak in the second half of last year. In the Spring forecast, the State Secretariat for Economic Affairs (SECO) said it expected economic growth of 1.6% in 2017, down from the forecast of 1.8% it gave in December. The downward adjustment to resulted from a "sluggish close of 2016," SECO said.

 
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