News

Earlier this month, China shocked investors everywhere by banning both corporate and personal fund raising using ICOs (initial coin offerings) such as bitcoin, stating that such practices constitute illegal fundraising due to the current lack of regulations and increasing reports of misuse.

In recent years, the rise of the gig economy in Singapore has introduced new methods of working in various economic sectors, from banking, ICT industries, the healthcare infrastructure, to transportation and even online shopping.

Notably, the most popular hotspot is Paphos when is then followed by Famagusta, Limassol, Larnaca and Nicosia. The majority of inquiries were for houses/villas in Limassol at 55%, whereas others were interested in apartments in Nicosia leading with 72%. Limassol leads with the highest average listing price at EUR €329,431 whereas Famagusta has the lowest average asking price of EUR €127,855.

ACRA have recently updated their guidelines therefore bringing it transparently in line with other jurisdictions. Following this, businesses will be offered a copy of their business profile and the amount of information available for public use will increase substantially.

China has agreed to allow imports of rice from the US for the first time. The agreement gives US rice farmers access to the world's main consumer of the grain, with China importing over 5 million tonnes in 2016 alone.

After the Hong Kong government recently abolished tax breaks for electric vehicles, no Tesla vehicles sales were registered in Hong Kong throughout the month of April, reports have shown.

Italy's government this week is facing the arduous process of bailing out two of its national banks at a cost of €5.2B euros.

Singapore recently signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (BEPS).

Brazil is the world's largest producer of both oranges and orange juice, however due to changing breakfast preferences in Europe, means that the country's reliance on exporting the fruit may have to change.

A Chinese Company Director has been found guilty of illegally importing duty-unpaid cigarettes through parcel post and storing them at his home in Singapore.