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.