31st May 2018
AP — California lawmakers moved Wednesday to create a state-backed bank to handle the billions of dollars flowing from the newly legal recreational marijuana market. The world’s largest legal recreational marijuana economy, created under a law that took effect this year, is projected to grow to $7 billion. The… Read More
30th May 2018
AP — Israeli banks are helping build West Bank settlements in violation of international law by providing financial services to home buyers and local councils, Human Rights Watch said in a new report published Tuesday. The report said that bank activities in or with settlements have helped encourage settlement… Read More
30th May 2018
The Council of the EU has removed the Bahamas and Saint Kitts and Nevis from its list of non-cooperative tax jurisdictions, following commitments to remedy EU concerns. EU experts have assessed their commitments and the jurisdictions have now been upgraded from the blacklist (annex I) to the grey list… Read More
29th May 2018
A South African court ordered 250 million rand ($20 million) in assets belonging to former president Jacob Zuma’s allies the Gupta brothers be unfrozen, the EWN news network and other local media reported. The Guptas, who are Indian nationals, and Zuma have denied any wrongdoing in a series of scandals… Read More
29th May 2018
Albania’s under-resourced government signed a deal with accounting firm Ernst & Young on Monday to get hands-on help in fighting rampant tax evasion and other economic crimes. Prime Minister Edi Rama said Albanian authorities had quintupled the amount of wealth seized from criminal activities since his Socialists took power in… Read More
29th May 2018
AP — Venezuela’s former oil czar said crude production in the OPEC nation will continue to plummet in the aftermath of President Nicolas Maduro’s re-election, as the embattled socialist leader takes the country down an increasingly authoritarian path that scares off private investment and leads to more international sanctions… Read More
28th May 2018
AP – President Donald Trump said Sunday a U.S. team was in North Korea to plan a summit with North Korean leader Kim Jong Un, raising expectations that the on-off-on meeting would indeed take place. The State Department said earlier that a team was in Panmunjom, which straddles… Read More
24th May 2018
Swiss authorities have raided several locations in Switzerland as they ramp up a criminal investigation into suspected money laundering connected to crimes involving Angola’s sovereign wealth fund and its central bank, prosecutors said on Friday. Switzerland’s Attorney General opened criminal proceedings in April in response to the reports connected with… Read More
22nd May 2018
The German government will help German firms with business in Iran where it can, but cannot entirely shield them from the U.S. decision to quit the Iran nuclear deal and reimpose sanctions against Tehran, the economy minister told a newspaper. European companies conducting business in Iran face U.S. sanctions after… Read More
22nd May 2018
AP — The British Parliament’s foreign affairs committee slammed the government Monday for “turning a blind eye” to the role London’s financial center plays in laundering the proceeds of Russian corruption, saying it helps the Kremlin finance its aggressive foreign policy. Despite the government’s tough rhetoric after the… Read More