Shanghai: The controversial construction of a People’s Liberation Army port in Hong Kong’s historic Victoria Harbour has been approved, amid growing unease about China’s role in the former British colony.
The port proposal was “unanimously” passed by Hong Kong’s planning board, China’s state broadcaster announced. Continue reading
The apparent suicide death of the chief economist of a US investment house brings the number of financial workers who have died allegedly by their own hand to four in the last week.
50-year-old Mike Dueker, who had worked for Russell Investment for five years, was found dead close to the Tacoma Narrows Bridge in Washington State, says AP. Continue reading
Britain could buy weapons from its former Cold War foe for the first time under a landmark defence treaty, the Telegraph can reveal.
Defence chiefs are preparing to sign a deal that would see British defence companies working jointly on projects with the Russian arms industry.
The treaty allows arms companies to buy kit from Russia – and Russian diplomatic sources said they hope one day to see British soldiers carrying the Red Army’s famous Kalashnikov rifle as a result. Continue reading
The U.K.’s Royal Mint, which traces its history back more than 1,000 years, ran out of 2014 Sovereign gold coins as prices near a six-month low led to “exceptional demand.”
The mint, based in Llantrisant, Wales, expects to have stocks of the coins again by the end of January, it said in a statement e-mailed today. It has full availability of gold and silver Britannia bullion coins, it said. Gold dropped to a six-month low of $1,182.27 an ounce in London on Dec. 31, capping the largest annual decline since 1981. Continue reading
Note: The video will not properly post here. You must go to the website to view the video.
In this MUST WATCH clip, Bloomberg Industry’s Kenneth Hoffman shockingly reveals that London’s gold vaults are “virtually empty“: “You could go into a vault in London a couple of years ago.
The vaults were packed to the rafters with gold, and the gold would trade from me to you to somebody else. You can walk into those vaults today and they are virtually empty. Continue reading
Hundreds of high-level political figures, CEOs and international experts from around the world explored the economic, political and strategic potential of the region at the third Caspian Forum in Istanbul. Experts and politicians discussed the latest about the Caspian region, particularly efforts to transport its energy resources to an eager European market. Experts described the Caspian as the centre of trade relations between East and West and as the new centre of energy for the world.
Participants at the December 5th forum also discussed the latest on transportation projects designed to establish a modern Silk Road trade route that would link Asia and Europe. Turkey and Azerbaijan have been at the centre of those efforts. Continue reading
The Duke of Westminster has been knocked off his perch after more than a decade as the richest investor in UK property.
He’s taken the top spot in the Estates Gazette Rich List since it began in 2002, comfortably surpassing billionaires such as the pharmaceuticals scion Ernesto Bertarelli and the Swiss-based investors and private equity players, David and Simon Reuben.
Notice anything about this list? Like the two Chinese men that came out of nowhere to occupy first and second place? Neither of them appeared in the top 250 UK property investors last year. The third Chinese member of the top 10, Joseph Lau, is £550m richer than he was last year. But the wealth of the top 250 is so much greater – up 60% on 2012 – that he has fallen three places. Continue reading
Should it transpire, Frankfurt would likely be the winner as it’s slowly becoming the world’s new financial center. Paris only toes the German line.
Invetsment bank could switch European operations to Paris and Frankfurt
Goldman Sachs has said it would move much of its European business out of London if Britain leaves the European Union.
The warning from the world’s most powerful investment bank comes as political pressure for Britain to leave the EU mounts. Continue reading
The six powers’ negotiating teams sat down in Geneva for resumed nuclear talks with Iran Wednesday, Nov. 20 in a haze of cautious optimism radiating from from Washington, Moscow and London about the prospects of the first accord to be signed with Tehran on a path toward resolving the controversy over its nuclear program.
Still, no one was laying bets on the deal, a preliminary accord providing six months for a comprehensive agreement to be discussed. Continue reading
(Reuters) – Thousands of staff across dozens of London’s financial firms will be put through a “war game” scenario on Tuesday to test how well they can handle a major cyber attack.
In one of the largest exercises of its kind in the world, the test dubbed “Waking Shark II” will bombard firms with a series of announcements and scenarios, such as a major attack on computer systems hitting stock exchanges and unfolding on social media. Continue reading
A railway tunnel underneath the Bosphorus Strait has been opened in Turkey, creating a new link between the Asian and European shores of Istanbul.
The Marmaray tunnel is the world’s first connecting two continents, and is designed to withstand earthquakes.
It was inaugurated on the 90th anniversary of the Republic of Turkey. Continue reading
Lithuanian Minister of National Defence Juozas Olekas together with other representatives from EU member states attended the seminar on European Burden Sharing and the Role of EU Battlegoups on 15 October in London (UK), Defence Ministry has informed.
“I believe the European Council in December will express its position on the future of EU Battlegroups. I expect strong political message that will echo the current level of ambition in committing to use EU Battlegroups,” the Lithuanian Minister of National Defence said. Continue reading