The war of words between Donald Trump and North Korea has brought volatility back into markets. The geopolitical uncertainty affects global markets across the board, including equities, bonds and gold. How we feel about the market risk? How close are we to war? What is the significance of the military preparations and deterrents? These and similar questions have become more common than at any time since the financial crisis. Continue reading How close is the world to war? The alarming reality.
A closer look at why the Japanese economic landscape (aging and shrinking population, near flat GDP and retained earnings leads to an increased focus on global cash management. But also a look at if Japanese banks can still catch-up in order to meet demand? What serious challenges do newcomers to this area face. Especially a diversified client-base may prove to be an “Achilles’ heel”. Continue reading Japanese Economy Sets Stage For Global Cash Management. Who can service?
All roads lead to Beijing as we look at China’s generation defining “One Belt, One Road” policy, an endeavour that, if successful, will interweave the economic destinies of 3.8 billion people (over half of the global population), across 65 countries. The cost is projected at a mindboggling USD 4 trillion – equivalent to launching 27 International Space Stations, building 10 complete US interstate systems, or digging 180 Chunnels (the Channel Tunnel between the U.K. and continental Europe). No matter how you slice it, China is primed to head-up the largest infrastructure investment project the world has ever seen. Continue reading One Belt, One Road – The giant in the East needs a better PR-firm on the case.
A survey conducted by the European Commission revealed that 80% of the respondents answered with “no”, when they were asked if they were considering buying a financial product outside their own EU-county. This seems to be, the survey continues, because in the near future “they can purchase all financial products in their own country”. Could it be that PDS2 influences their decision? How does this then supposedly work? Last but not least, is this a threat to banks in general? Continue reading How can technology influence the changing relationship between Bank and Treasury – PSD2 explained.
Being rewarded makes us feel good. When exposed to a rewarding stimulus, the brain responds by increasing release of the neurotransmitter dopamine. Deep within we all hope to receive some sort of payoff for the good that we do. Truth be told, in our working life, there is usually no satisfying payoff. However, there seems to be an exemption. According to the US Department of Justice there is one industry that rewards its employees for their hard work, the money laundering industry. It accumulates more money than the electronics industry, the entertainment industry and the pharmaceutical industry combined.
Now you may be thinking, ….. wait! …… money laundering, ….. isn’t that illegal? Minor technicality. However, it is exactly this technicality that leads governments globally to try to suffocate this flourishing industry, whilst others’ strategy is to bypass the defences and become the most successful human beings on earth. Continue reading Money laundering as an adventure!
The outcome of the referendum is clear, the U.K. wants out. Fast. However, the whole process of the Brexit has not even started yet. Hard statements during public appearances set the scene. Is this negotiation rhetoric or something else? What are the consequences we could anticipate? What exit scenarios are available? How does the legal framework interfere? Continue reading Brexit? Yes! But keep in mind, until you’re out, you’re in!
November 3rd this year, the IRAS (Inland Revenue Authority of Singapore) published an update of its guidelines as it pertains to related party transactions. Starting 2018, if the value of related party transactions in the audited accounts for the financial year exceeds a fairly low threshold of 15 million SGD, certain details of these related party transactions must be reported. Continue reading A Holistic view on Transfer Pricing – IRAS follows the Global Trend.