Posts from the ‘Switzerland’ Category
Thank you to everyone who completed my APRA pre-conference workshop survey. Your answers will be very helpful in planning this event. (By the way, if you haven’t taken the survey yet, please do … and thank you in advance!)
Arabian Business posted a slide show of the 20 most expensive homes in Dubai.
Continuing a trend that began in the fourth quarter of 2011, real estate prices in China have continued to fall, according to the Wall Street Journal (subscription required).
Homes of the Rich profiled four properties in London with market values or asking prices of £39.95 million (US$63 million), £37.5 million (US$58.96 million), £11.25 million (US$17.6 million), and £9 million (US$14.1 million) respectively. The website also showed a Sotheby’s listing for a 29,000 square foot home in Montreal with an asking price of C$18 million (approximately the same in US dollars).
Business and Finance
Legal changes in Switzerland will bring the country’s definitions of fraud and tax evasion into line with those of other countries, according to Bilan (in French).
The FT‘s beyondbrics blog looked at the relatively small dividend payouts by South Korea’s family-controlled businesses, which are facing pressure from minority investors over the issue.
Wealth List News
The New Zealand Herald ran an article last week about how that country “is fast becoming a favourite spot for global billionaires.”
A “super penthouse” in Daniel Libeskind’s recently-completed Singapore apartment complex will cost more than US$25 million, according to Curbed.
The French paper Les Echos ran an article about where international buyers look for luxury property in and around Paris. The article, in French, includes a table of price ranges.
The Moscow News released some new stats on social media use in Russia.
Superyachts.com recently released its “Largest Yachts of 2012 Forecast.” The list is searchable by country, builder, and model. Owner information is available in some cases.
The French publication Challenges released a list of the 10 highest paid executives in France (in French). Although the list is new, it uses data from 2010.
Back in December (I fell behind on my reading…), the Swiss magazine BILAN released its annual list of the 300 wealthiest individuals in Switzerland (in French). You can view the whole list or select names by source of wealth. Results show a list of names with canton, estimated size of fortune, and change in fortune since last year. Clicking on the names of individuals will pull up short biographical profiles.
A final note…
For those of you reading in the United States, I hope you are having a happy, relaxing President’s Day!
On Mondays, the IFI blog highlights recent international news items that are relevant to the work of prospect researchers. Some of these news items provide specific wealth information, while others help establish context for research projects in particular country. This week’s round-up, drawing on end-of-2011 news coverage, is heavy on trends and predictions for 2012.
In the video below, The Wall Street Journal’s China Real Time Report explored trends affecting real estate prices in Hong Kong.
The Moscow News ran a 2012 predictions article that speculated about, among other issues, that city’s real estate prices in 2012. The predicted trend is an increased price for “the next few years.”
Meanwhile, the luxury property market in France has been going through a “boom” time, despite the bad economy. Experts quoted in this article (in French) attributed the boom in part to wealthy buyers from “emerging economies and the Gulf” region.
ArabianBusiness published the 2011 edition of its Rich List, which profiles the “Arab world’s richest men and women.”
The bad economy has not kept companies in Russia from handing out year-end bonuses.
Business and Finance
Al Jazeera’s “Counting the Costs” program ran a half-hour exploration of economic trends in Latin America over the weekend.
fDi magazine recently released its annual “Asia-Pacific Cities of the Future” (free registration required) list, which is an interesting background read on cities evaluated on criteria such as “business friendliness” and “economic potential.”
The Times of India ran an article about the current business climate in India and some top executives considering moving their investments out of the country. According to the article,
“The frustration of India’s business elite with corruption, political paralysis, log-jammed approvals, regulatory flip-flops, lack of access to natural resources and land acquisition battles — to pick a few of the top complaints — has reached a pitch perhaps not heard since India began liberalizing its economy in the early 1990s.”
“A few corporate biggies” in Mumbai are among dozens of individuals under scrutiny for tax evasion via Swiss bank accounts, according to the Times of India.
Business & Finance
Major international financial institutions have been pulling bankers out of Dubai, which has “never quite fulfilled its promise as a regional banking hub,” according to Arabian Business.
Banking changes are underway in Switzerland, as a result of “public anger and shareholder unease” about the country’s tax haven status. Switzerland’s reaction to this demand for reform “reflects a changing climate for offshore finance, which has flourished for 50 years,” according to a recent article in The Economist.
Forbes India held its annual Business Leadership awards.
Earlier this month, Credit Suisse released its annual Global Wealth Report. The Mail & Globe discussed portions of the report dealing specifically with HNWIs in South Africa. This article discussed asset distribution patterns by and Credit Suisse’s predictions for growth in this group over the next several years.
Leaked documents in Hong Kong have revealed information about the political and religious contributions of “media baron Jimmy Lai.” These types of details are not usually available in Hong Kong, and their unexpected appearance there has “transfixed” the city, according to the Wall Street Journal.
Other Signs of Wealth
Monocle produced a short video about the South Korean golf scene. As the correspondent pointed out, belonging to a golf club there “means more than just that you can play golf. It means you have money, and power, and influence…”
JingDaily explored China’s “nascent private aviation market” in an interview with Thomas Flohr, the founder of VistaJet.
Alibaba founder Jack Ma responded to criticism about his lack of obvious philanthropic efforts in an interview with the Wall Street Journal. He talked about the relationship between wealth, philanthropy, and corporate social responsibility in China.
Yesterday marked the beginning of India’s third annual Joy of Giving Week. The video above is a promotional piece from last year’s event. Meanwhile, The Hindustan Times ran a long article about the rapid rise of charitable giving by members of India’s middle class.
Philanthropy also is on the rise among Indonesia’s HNWIs, according to The Jakarta Post.
Sunday’s edition of Monocle Weekly featured a discussion of the recent “scandal at UBS and the implications it could have on the world of banking,” particularly in Switzerland.
The Economist ran an article about major changes coming to the UK’s banking industry.
The world’s richest woman, Wu Yajun, made her fortune through real estate investments in China. On Thursday, the Wall Street Journal‘s China Real Time blog discussed Ms. Wu and the role property investments play in creating wealth in China today.
Boston University received the largest gift in its history when alumnus and trustee Rajen Kilachand, a Dubai entrepreneur, pledged US$25 million to the institution’s honors college.
Qatar is now the world’s richest nation, according to the International Monetary Fund.
ArabianBusiness.com released a list of the 30 wealthiest Indians in the Gulf states.
A new 315-foot yacht, costing the equivalent of US$156 million, launched in September. There are 32 other yachts in the world larger than this one, which was purchased by Kirsty Bertarelli, “the richest woman in Britain,” and her husband, the Swiss billionaire Ernesto Bertarelli.