America’s Cup: Disruption in Paradise:
The America’s Cup has become a pawn in local politics, with Bermuda’s Premier dissolving Parliament and calling a snap election for July 18.
The Premier, Michael Dunkley, is claiming his One Bermuda Alliance has revitalised the economy, and urged Bermudians to reject the politics of destabilisation “just as the island is taking centre stage before the world, just as we’re taking flight”.
As the head of government, Dunkley’s not unexpected decision to name an election date is not directly related to the Cu…
Full Article: Scuttlebutt Sailing News – America’s Cup: Disruption in Paradise, Editor
Tackling the Windy City NOOD:
Chicago, IL (June 10, 2017) – More than 145 sailing teams had a true Windy City experience on Lake Michigan Saturday during day two of the Helly Hansen National Offshore One Design (NOOD) Regatta in Chicago.
With breeze in the upper teens and gusts in the mid-twenties, the heavier wind created a welcome challenge for the sailors, especially those unaccustomed to the unique conditions caused by hot air lifting over cold water.
Morgan Reeser, tactician on the Farr 40 Flash Gordon 6, has never sailed in these conditions before, but that hasn’t stopped his team—who are using the event to train for the world championship—from winning every race in their class this weekend.
Full Article: Scuttlebutt Sailing News – Tackling the Windy City NOOD, Editor
For five years professionals have been working on the creation of a new international finance center to rival other global finance stars. In 2010 work is about to begin on the site and new tenants are tipped to be signed up.
*This brief Highlights best practice from the Dubai International Finance Center.
*The Independent Financial Center of the Americas can mount a real challenge to the traditional Americas offshore centers.
*The brief looks at how far the Independent Financial Center of the Americas has come in preparing for business.
This brief Highlights best practice from the Dubai International Finance Center, including case studies of leading international private banks active at the Center.
The are some key market features that the IFCA needs in place if it is to succeed as an international finance center for the Americas.
Reasons to Purchase
*Understand the business principles that account for the success of the Dubai International Finance Center.
*Gain insight into the work being done by the IFCA in order to attract a good client base and build a first class finance center.
Table of Contents :
THE INDEPENDENT FINANCIAL CENTER OF THE AMERICAS IS SET TO RIVAL THE DUBAI INTERNATIONAL FINANCIAL CENTER AND CHALLENGE THE TRADITIONAL AMERICAS OFFSHORE CENTERS 2
The DIFC lies at the heart of the Middle Eastern wealth management market 3
The DIFC was established in 2004 and has six areas of focus 3
The DIFC is a financial free zone 3
There are six areas of financial services focus within the DIFC 4
The DIFC is at the core of wealth management in Dubai 4
The doors are wide open to new entrants, offering a range of incentives 4
The level of international wealth management activity in Dubai has continued to increase 5
The market has grown and is increasingly demanding high quality service 5
In recent times, various strands of Dubai Holding has been going through turbulent times 6
But despite the turmoil banks still have an eye on growth potential in the Middle East 7
DIFC expects 2010 to be a good year for growth of the center 8
Case studies: A number of leading international private banks are active in the DIFC 8
Julius Baer was the first international private bank licensed to operate in the DIFC 8
Standard Chartered opened its first branch in the UAE in 1958 8
Standard Chartered has launched an offering for non-resident Indians (NRIs) 9
Credit Suisse has had a dedicated wealth management office in Dubai since 2005 10
UBS offers a range of Islamic finance products and services alongside its more traditional wealth offerings 10
SG Private Banking has its Middle East regional office based in the DIFC 11
HSBC is the largest and most widely represented bank in the Middle East 11
The are some key market features that the IFCA needs in place if it is to succeed as an international finance center for the Americas 12
Creativity and commitment are catalysts for a successful international finance center 12
An international finance center needs to be underpinned by a transparent regulatory framework 13
Clients should be drawn from a range of regions 14
An international financial center should cover a wide range of financial services 14
Offering attractive incentives will bring good business to an finance center 15
The center still has a lot to accomplish to mount a real challenge to other finance centers 15
The IFAC needs to mount a successful challenge to the Bahamas and Cayman Islands which have been key financial centers to the Americas for more than 25 years 16
Summary: Special benefits come to banks setting up in an international finance center 17
Tax amnesty 19
Further reading 19
Further reading 19
Ask the analyst 19
Datamonitor consulting 19
LIST OF TABLES
Table 1: A rendering of the Independent Financial Center of the Americas 2
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