“Commercial Awareness Is Global.”
Note: This article is a collective work by the futurologist Jens Hansen and digital expert Carsten Lexa. Digitization brings us disruptions in a wide variety of industries. Newspaper publishers, video rental companies, retailers, bookstores — all have already undergone a major transformation. The change in the retail business for books was particularly bad especially in the USA. In 2011 the
The May 1 effective date comes some four months after Singapore ratified the Convention January 2016 and is part of effort to increase tax transparency and combating cross-border tax evasion in Asia’s top financial and business hub
By: Rechtsanwalt (Attorney) Carsten Lexa, LL.M. A 42-year-old Russian man won an interesting case against a Russian bank. This man received an unsolicited credit card offer from online bank Tinkoff Credit Systems. Unhappy with the credit card terms, the man scanned the term sheet, wrote in some new terms of his own, signed the document and send it back. The bank
Given the state of the global economy and the fiscal constraints many governments find themselves one would reasonably think that all is being done to locate, account and tax these monies? With a conservative $21 trillion out there, the results so far speak for themselves.
By Charles Wanguhu Kenya currently risks being black listed by the OECD Financial Action Task Force (FATF) as a jurisdiction with key deficiencies in the control against money laundering. The other two countries on the list: the People’s Republic of North Korea and Iran. The Financial Action Task Force (FATF) is an inter-governmental body tasked with the development and promotion
By Kamau Wanguhu Ardent twitterzens will have noticed in the past two days two distinct Kenyan topics that have been trending: firstly the passing on of Prof Wangari Maaathai a Nobel peace prize winner, great conservationist and former Member of Parliament. Secondly has been #Things stronger than the Kenyan shilling, a tongue in cheek commentary on the tanking of the Kenyan
By: Ainsley Brown In a move that would be the first of its kind, a state-owned Chinese bank could take control of a US retail bank. The Industrial & Commercial Bank of China (ICBC) has reportedly signed a deal to acquire the majority stake in the US subsidiary of Bank of East Asia. The deal signed during the recent state
By: Ainsley Brown The global down turn it could be argued came as a blessing in disguise for the Islamic banking and finance sector (IBF). But may not for reason you might think. The decline in western banking and finance, while it led to many opportunities for the expansion of IBF, actually saw a decline in growth. This decline though
By: Ainsley Brown According to the latest Global Financial Centres Index (GFCI), as conducted by the think tank Z/Yen Group, London and New York City (NYC) remain number one and two respectively as the top financial centres. However, Hong Kong (HK) is closing the gap and is in a respectable third. The twice yearly index ranks 75 cities based on
By: Carsten Lexa In 2009 there were about 30 million credit card holders in the UK, holding about 58 million credit cards, down from 66 million credit cards in 2008. Beyond that, total household debt in the UK has reached a level of 1400 billion pounds sterling, of which 55 billion pounds sterling is on credit cards. When loooking at