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Singapore ramped up crypto exchange regulations Monday in a bid to curb money laundering and boost market confidence after a series of high-profile scandals rattled the sector. The city-state’s central bank last month said digital token service providers (DTSPs) that served only overseas clients must have a license to continue operations past June 30—or close … Read more
In a cavernous testing facility on England’s windswept northeast coast, engineers are dropping a 50-ton multi-million dollar wind turbine blade the size of a football field onto a concrete floor—on purpose. The blade is being tested to destruction at the Offshore Renewable Energy Catapult (ORE Catapult) in Blyth. It tells one small part of the … Read more
A services unit of Credit Suisse pleaded guilty and was sentenced on Monday in a long-running scheme that hid wealthy U.S. accounts from authorities, according to the Department of Justice. Between 2010 and July 2021 Credit Suisse AG plotted with its employees and ultra-rich U.S. account holders to conceal the money and assets they held … Read more
Nigel Farage’s Reform UK party is launching a drive to raise funds from wealthy offshore donors in low-tax jurisdictions including Monaco, the United Arab Emirates and Switzerland, taking advantage of Britain’s loose funding rules to bolster its coffers. The rightwing populist party is looking to raise money from British expatriates who can donate in their … Read more
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Stay informed with free updates Simply sign up to the Property sector myFT Digest — delivered directly to your inbox. The UK has collected just 3 per cent of financial penalties issued to offshore companies that failed to comply with transparency legislation designed to uncover illicit wealth hidden in the property market. The figures, released … Read more
Stay informed with free updates Simply sign up to the Chinese business & finance myFT Digest — delivered directly to your inbox. International bondholders have recovered less than 1 per cent of nearly $150bn of bonds defaulted on by China’s property developers since 2021, despite years of negotiations and nearly a dozen restructuring agreements. Just … Read more
Orsted’s latest impairment came on the same day Trump banned new offshore wind licenses. Read More
A view of offshore oil and gas platform Esther in the Pacific Ocean on January 5, 2025 in Seal Beach, California. Mario Tama | Getty Images President-Elect Donald Trump said Tuesday that he will reverse President Joe Biden’s ban on offshore drilling along most of the U.S. coastline as soon as he takes office. “I’m … Read more
India could lose over $2 billion in tax revenue from cryptocurrency transactions over the next five years due to its tax policies driving traders to offshore platforms, according to a recent report. The December report from Indian technology think tank Esya Centre reveals that the government has already missed out on collecting over INR 6,000 … Read more
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