Haines Watts have undertaken a UK company owner survey and found that business owners are drawing modest salaries and eschewing lavish lifestyles in favour of investing heavily in their business. They surveyed over 500 business owners from every region of the UK, from a complete range of sectors and a complete range of company sizes. UK Business owners are “crossing their fingers and hoping” that their business will deliver the returns needed to support them and their families – despite certain major risks to their business that have been heightened by the recent Brexit vote.
By Armen Danielyan, AC Delovoy Profil JSC.
Three years ago, a wave of bank licence revocations began and this continues to impair the russian banking sector. As a result of the impact of the crisis, an increasing number of banks have allowed violations in their work which places them on the list for a licence reduction. If the general public deposits in these banks are insured, customers’ current account balances are simply frozen until the situation is resolved. The problem of selecting the correct bank for an account is of increasing relevance.
By Martin Straub
Automatic Information Exchange (AIA) of client financial data under the US Foreign Account Tax Compliance Act (FATCA) and the OECD’s Common Reporting Standard (CRS) is now reality. Information is flowing under FATCA and information will start to flow under CRS in September 2017. These unprecedented invasions of personal privacy have now removed any remaining illusion of client privacy or confidentiality.
By Vijesh Zinzuwadia, Zinzuwadia & Co. CA
Make in India is an initiative launched by the Government of India to encourage multinational, as well as national companies to manufacture their products in India. It was launched by Prime Minister Narendra Modi on 25 September 2014. The idea is for India to emerge, after initiation of the programme in 2016, as the top global destination for foreign direct investment, surpassing the USA and China. India received USD 63 billion in FDI in 2015.
By Nan Sato and Jacopo Genova, Shimin Law Offices
The overall Chinese economy seems to be slowing down. Certain aspects of the economy, however, are growing fast. Fueled by an expanding middle class and the State government’s effort to transition from a manufacturing economy to a service one, the movie industry is growing at an extraordinary pace despite the downward pressure of the overall economy.
By Nil Saru, assisted by Rojina Gyawali, NBSM & Associates
It took a while for the noise to build up. Nepal is the eleventh most earthquake prone country in the world. On Saturday, 25 April 2015, at 11:56 local time, a 7.6 magnitude earthquake (as recorded by Nepal’s National Seismological Centre [NSC]), struck Barpak in the historic district of Gorkha, about 76 km northwest of Kathmandu. Nepal had not faced an earthquake of comparable magnitude for over 80 years.
By Raghu Marwah and Priyanka Ajmani, R.N. Marwah & Company
Although the cost of money in India has been reducing, in large part thanks to Governor Rajan’s generosity, the arbitrage with western economies is still at between 400 and 500 basis points. With the RBI easing regulations on commercial borrowing through the ECB, individual entrepreneurs are now looking forward to the moment when they will finally be able to dip their hand in the honeypot. Recently, this has led to widespread debate on the issue of overseas borrowing.
By Ian H. Turvill, Freeborn & Peters LLP
Across the globe, professional services firms are striving for growth. They employ many strategies to realise their objectives, but among the most common (certainly among law firms) is to hire partners from rival entities – so-called “lateral hiring.” Sadly, these hiring decisions often fail to live up to the heightened expectations associated with them. But this doesn’t have to be the case. Instead, there are three factors that distinguish the firms that engage in successful lateral recruitment and integration, and those that do not.
By Armen Danielyan, AC DELOVOY PROFIL JSC
Bitcoin became the most popular currency among numerous cryptocurrencies and has delocalised very quickly. Today, bitcoin is not only a unit used in monetary transactions of a closed user group, but is perceived by many as an alternative to existing money. Limited cryptocurrency issuance along with a constantly expanding implementation area contributes to its high yield, secured by exchange rate increases. For example, in May, 2010, one pizza was bought for 10,000 bitcoins, while one bitcoin will now buy around 30 pizzas.
By Prof. Robert Anthony, Anthony & Cie
Quantitative easing has clearly created employment, albeit sometimes at low salaries. Whereas in the late 1980s hyperinflation was considered to be a way of creating demand, since the crisis of 2007 we have seen a different strategy. Initially there was speculation in safe commodities such as gold, but the price has now dropped from its previous high levels. Several advisors regarded it as undervalued and predicted it would continue to rise. As markets settled, despite the problems not being over, gold stabilised at a lower level. As we come out of slow growth, what effect will this have? Many think European equity markets are still undervalued. We have seen recent speculative selling, but markets have been volatile for a while.
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