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    Critics are condemning JP Morgan boss Jamie Dimon for apologizing to China over a joke he made about the country's communist regime, charging that the billionaire businessman is allowing China to censor Americans.  Dimon issued two groveling apologies Wednesday, just one day after saying his firm would outlast China's Communist regime.  Speaking at Boston College on Tuesday, Dimon quipped: 'I was just in Hong Kong and I made a joke that the Communist Party is celebrating its hundredth year. So is JP Morgan. I'd make a bet we last longer.' 'I can't say that in China. They probably are listening anyway,' the 65-year-old banker added. But in a sign that even the King of Wall Street is wary of Beijing, he has since apologized – twice.   His public expressions of remorse were concerning to some, including essayist Nassim Nicholas Taleb.  'Apologies driven by fear (or economic interest) are not apologies, but genuine expressions of submission,' Taleb tweeted. Speech: JP Morgan boss Jamie Dimon (pictured in Paris in June) has apologized twice for the remarks he made about China at the...
    JPMorgan CEO Jamie Dimon has issued two groveling apologies a day after saying his firm would outlast China's Communist regime.  Speaking at Boston College on Tuesday, Dimon quipped: 'I was just in Hong Kong and I made a joke that the Communist Party is celebrating its hundredth year. So is JP Morgan. I'd make a bet we last longer.' 'I can't say that in China. They probably are listening anyway,' the 65-year-old banker added. But in a sign that even the King of Wall Street is wary of Beijing, he has since apologized – twice.   First Dimon said: 'I regret and should not have made that comment. I was trying to emphasize the strength and longevity of our company.' Hours later, he added: 'I truly regret my recent comment because it's never right to joke about or denigrate any group of people, whether it's a country, its leadership, or any part of a society and culture. 'Speaking in that way can take away from constructive and thoughtful dialogue in society, which is needed now more than ever.'   Speech: JP Morgan...
    Washington (CNN)Former President Donald Trump racked up more than $70 million in losses over a four-year period from his Washington, DC, hotel, while publicly claiming that the hotel was making more than tens of millions of dollars, according to documents released by the House Oversight Committee.The documents also show the hotel received millions from foreign governments in payments and loan deferral, which Trump did not disclose, raising questions about potential conflicts of interest during his presidency.It's the first time that congressional investigators have reviewed and released details of the former president's financial information, though the Trump Organization on Friday challenged the committee's understanding of accounting and denied any wrongdoing. The Manhattan district attorney and New York attorney general investigators have reviewed Trump's financials, but none of that has been made public.Trump's revenue from the Trump International Hotel reported in public financial disclosures dating from 2016 to 2020 totaled more than $156 million, the committee said an updated report.But in that four-year period, Trump's DC hotel actually suffered a net loss of more than $70 million while he was president and...
    WASHINGTON -- Former President Donald Trump's company lost more than $70 million on his Washington, D.C., hotel during his four years in office despite taking in millions from foreign governments, according to documents released Friday by a congressional committee investigating his business.The House Committee on Oversight and Reform said the luxury hotel just a few blocks from the White House was struggling so badly that the Trump Organization had to inject $27 million from other parts of its business and got preferential treatment from a major lender to delay payments on a $170 million loan.The committee said the losses came despite an estimated $3.7 million in revenue from foreign governments, business that ethics experts say Trump should have refused because it posed conflicts of interest with his role as president.The Trump Organization said in a statement that the findings of the Democrat-led committee were misleading and false, and it did not receive any special treatment from a lender."This report is nothing more than continued political harassment in a desperate attempt to mislead the American public and defame Trump in pursuit...
    A House committee investigating former President Trump's finances is entitled to some but not all of his tax records, a federal judge ruled on Wednesday, delivering a blow to his efforts to keep them private. It represents the latest twist in a complex web of court cases in a years long battle to force Trump to release his tax returns.  U.S. District Court Judge Amit Mehta approved a House Oversight and Government Reform Committee subpoena obliging Trump's accountants Mazars to hand over documents from 2017 to 2018.  But he turned down most of the panel’s request for information dating back to 2011.  Former President Trump was spotted leaving Trump Tower on Wednesday through a discreet side exit with a minimal Secret Service presence Trump suffered a setback in his legal battle to prevent the release of years of tax documents on Wednesday, when a judge ruled a House committee was entitled to some - but not all - of his financial records The ruling took account of fresh directives from the Supreme Court on how to handle such...
    U.S. SEC President “Decentralized tokens are also subject to securities law if they hold securities” Gary Kensler, chairman of the Securities and Exchange Commission of India (SEC), said that any token, including decentralized tokens, is subject to securities laws. Financial Services Commission, 27 Foreign Transactions “Access will be blocked if you do not report by September 24” According to the Utilization and Reporting of Specific Financial Transaction Information (Special Provisions Act), the Financial Services Commission (FIU) Financial Intelligence (FIU) Virtual Property Business Report must be completed by September 24 for foreign cryptocurrency transactions. Open to Koreans. It was announced on the 22nd Elon Musk: “I do not know how to pump Bitcoin, but I did not dump it” Elon Musk, CEO of Tesla, told an online cryptocurrency conference on the 21st (local time) that ‘The Be Word’ owns his space company ‘SpaceX’ Bitcoin and has never sold it. This is the first time not only Tesla but also SpaceX has invested in Bitcoin. Korea’s CPTC experiment, Ground X partners? The Central Bank of Korea has formed a...
    The City of London’s dominance in international investment is largely due to its unprecedented success in attracting foreign investors. Last year, the final phase of Covid-19 and Brexit narrowed its presence in this region of Europe to the lowest level of this century. The UK received FDI inflows to 56 financial services projects last year, up from 99 in 2019 UK Financial Services Business Attraction Study EY. While the United Kingdom is the most attractive place in Europe, France is in second place with 49 projects, ahead of Germany by 37. Although the UK still holds one-fifth of all foreign direct investment in financial services in Europe, that figure is expected to fall to 26.7% in 2019, the report said. This is a small benefit since the EY survey was launched in 2000. Reducing the gap could raise concerns about the city’s ability to continue to capture the bulk of foreign currency now that it cannot provide transparent access to the EU. Learn more about Brexit and the city of London The role of the City of London as...
    Greg Baker/Getty Images A state-backed Chinese newspaper paid more than $1.6 million for advertising in Western media outlets with a presence in the United States over the last six months, according to disclosure forms filed Tuesday. The cash China Daily forked over included $272,000 to The Los Angeles Times; $291,000 to Foreign Policy; $371,577 to the British Financial Times; $329,898 to the Canadian Globe and Mail; and $700,000 to TIME Magazine. The figures were included on disclosure forms the Chinese newspaper filed on Tuesday under the Foreign Agents Registration Act, which requires foreign agents to register with the federal government. The Chinese newspaper frequently pushes controversial claims, and sometimes misinformation, promoted by the Chinese government. It carried a Chinese foreign ministry spokesman’s claim last year that the U.S. started the AIDS crisis, and in January, argued that China’s concentration camps for Uighurs helped women to become more than “baby-making machines.” The latest figures come after several large publications — including The New York Times, Wall Street Journal, and Washington Post — ended advertising agreements with the newspaper last year. The new...
    Margrethe Vestager, competition commissioner of the European Commission, speaks during a news conference in Brussels, Belgium.Bloomberg | Bloomberg | Getty Images LONDON — The European Union wants to restrict foreign companies that receive government subsidies from engaging in its market, potentially causing repercussions for Chinese-backed firms in particular. The European Commission, the executive arm of the EU, proposed on Wednesday three new tools to enable it to have the power to investigate financial contributions given by public authorities from non-EU nations. This would happen when the recipient firm tries to participate in the European market. "We want every company that operates in Europe no matter where it comes from to respect our house rules," European competition chief, Margrethe Vestager, said during a press conference. The European Union does not allow European governments to provide financial support to companies if this aid undermines fair competition. However, the rules have left foreign subsidies off the hook for decades and the commission wants to change that. "Companies have been free to use foreign subsidies to buy up business here in Europe. Some have...
    Derek Chauvin trial, Hispanic caucus at White House, Apple event: 5 things to know Tuesday Dogecoin jumps as crypto fans declare Doge Day BOAO, China (Reuters) -China will require financial institutions to transition towards green finance as early as possible, to help achieve the country's carbon neutrality goals, central bank governor Yi Gang told the Boao Forum on Tuesday. © Reuters/THOMAS PETER China Development Forum in Beijing China's President Xi Jinping has promised to bring the country's climate-warming greenhouse gas emissions to a peak before 2030 and achieve carbon neutrality by 2060, committing the country to an accelerated transition to renewable energy. Load Error "We will urge financial institutions to make transitions as early as possible," Yi said. The central bank will give incentives to financial institutions to support such transitions and will unveil new tools to boost financing for carbon emission cuts, Yi said. The central bank will also increase its support for green finance through ratings of commercial banks, deposit insurance rates and macro prudential assessments, he said. The central bank will assess the impact of...
    BEIRUT (AP) — Lebanon’s foreign minister held talks Monday with the Swiss ambassador to Beirut after Switzerland started a probe into possible money laundering and embezzlement at the Mideast country’s central bank. Foreign Minister Charbel Wehbi and ambassador Monika Schmutz Kirgoz did not offer comments following their meeting, saying only that the probe is a matter that judicial authorities are dealing with. Switzerland’s attorney general said last week he has asked Lebanon for cooperation into the probe, without offering further details. It’s not clear what prompted the Swiss investigation. Lebanon is facing its worst economic and financial crisis in its modern history. Lebanon’s Central Bank Governor Riad Salameh denied last week he had made any transfers of the bank’s funds. On Monday, shortly after the meeting between Wehbi and Kirgoz, the governor issued a statement saying reports about large transfers “are very exaggerated and have nothing to do with reality.” They allegedly aim to tarnish the image of the central bank and its governor “but lies won’t succeed,” said Salameh, who has been questioned by Lebanon’s prosecutor general, Judge Ghassan...
    BEIJING (AP) — U.S. financial news service Bloomberg said Friday that Chinese authorities have detained one of its Beijing-based news assistants on what they said was suspicion of endangering national security. Bloomberg reported that Chinese citizen Haze Fan was seen being taken from her apartment building accompanied by security officers in plain clothes at about noon on Monday, shortly after her last contact with her editors. It quoted a Chinese government statement as saying Fan was detained by the Beijing branch of the National Security Bureau “according to relevant Chinese law on suspicion of engaging in criminal activities that jeopardize national security.” China permits Chinese citizens to work only as translators, researchers and assistants for foreign news organizations, not as registered journalists able to report independently. China’s own media are almost entirely state owned and tightly controlled, and the country has long been one of the leading jailers of journalists. Bloomberg said it has been seeking information about Fan’s whereabouts from the Chinese government and from China’s embassy in Washington, D.C. It said its parent...
    Sources: COVID-19 restrictions could force all NFL franchises out of California for rest of 2020 season Best Travel Gifts On Amazon Wall Street Keeps Pushing Into China as Washington Balks (Bloomberg) -- A year into China’s big bang opening of its financial markets, Wall Street has ever more to lose from a growing consensus in Washington over reining in Beijing. Load Error It’s a risk they’re willing to take. A star-studded cast of global banks and fund houses have increased their presence in China this year and a record $212 billion of foreign funds have poured into Chinese bonds and stocks. Alongside have come a myriad of measures from Washington aimed at decoupling the U.S. from China, an issue that’s drawn bipartisan support given widespread alarm about the Asian nation’s rising influence in global affairs. The latest U.S. salvo was fired on Wednesday with the passage of legislation that could lead to Chinese companies -- including behemoths like Alibaba Group Holding Ltd. -- getting kicked off American exchanges. The turbulence hasn’t swayed global finance from the opportunity to...
    The Week The naked corruption of Kelly Loeffler and David Perdue Control of the United States Senate hinges on two January 5 runoff elections in Georgia, where incumbent Republicans David Perdue and Kelly Loeffler are facing Democrats Jon Ossoff and Raphael Warnock respectively. Most immediately, the race is a contest over whether President-elect Joe Biden and the Democratic Party will be able to govern — especially by passing another big coronavirus rescue package.However, Loeffler and Perdue are also excellent examples of what interests the Republican Party serves — namely, the ultra-rich, which includes both Loeffler and Perdue personally. These are two people who were rich before they got into politics, and leveraged their power as senators to make themselves even more rich — by profiteering off the pandemic. It is government of, by, and for the top 0.1 percent.Let me consider their cases in turn. David Perdue is a longtime businessman who served as CEO of Dollar General in the mid-2000s, where he worked diligently to source more products from China. According to his financial disclosures, he is worth between...
    BEIJING (AP) — China says Iran’s foreign minister will visit the country from Friday to Saturday, a day after the Trump administration blacklisted virtually all of Iran’s financial sector in the latest step aimed at the oil-rich country’s economy. In a brief announcement, China’s foreign ministry said only that Foreign Minister Javad Zarif was visiting at the invitation of his Chinese counterpart Wang Yi. China has been a staunch Iranian ally and remains a party to the 2015 Iranian nuclear agreement from which the U.S. has withdrawn while unilaterally reinstituting punishing sanctions on Iran. Thursday’s U.S. move hits 18 Iranian banks that had thus far escaped the bulk of reimposed U.S. sanctions and subjects foreign, non-Iranian financial institutions to penalties for doing business with them. That effectively cuts them off from the international financial system. The blacklisting has been opposed by European nations because it will open up their biggest banks and and other companies to U.S. penalties for conducting business with Iran that had previously been allowed. Zarif reacted angrily to the designations, calling them a “crime against humanity”...
    Peter Schweizer, president of the Government Accountability Institute and author of Profiles in Corruption: Abuse of Power by America’s Progressive Elite, called for Senate Republicans to subpoena Hunter Biden to investigate financial dealings with foreign interests, offering his recommendation on Thursday’s edition of SiriusXM’s Breitbart News Daily with host Alex Marlow. Schweizer reflected on a report released on Wednesday from the Senate Committee on Homeland Security and Governmental Affairs entitled, “Hunter Biden, Burisma, and Corruption: The Impact on U.S. Government Policy and Related Concerns.” Schweizer said the report corroborated much of his own research into the Biden family’s financial ties to foreign interests, including the Chinese government and Ukrainian oligarchs. “[The Senate] actually got access to Treasury Department reports on suspicious activity involving bank accounts, and they were able to look at those financial transactions to see who they were with and confirm the depth of those ties,” noted Schweizer. Schweizer continued, “There’s a financial tie between [Hunter Biden and] Yelena Baturina, a Russian oligarch who’s closely tied to Russia’s most notorious organized crime organization… They found at least one [transaction],...
    Foreign money flowing to Hunter Biden triggered alarm bells at banks as “potential criminal financial activity,” according to a Senate investigation released Wednesday. The Senate investigation cited numerous transactions that banks flagged in reports to the Treasury Department’s Financial Crimes Enforcement Network. In one of the transactions, Chinese billionaire Ye Jianming’s company sent $100,000 to Hunter’s law firm, according to the report. In another transaction, Chinese financier Gongwen Dong opened a line of credit with Hunter, which Hunter Biden, James Biden and James’s wife Sara used for a $100,000 spending spree, the report stated. Streams of foreign money flowing to Hunter Biden repeatedly triggered internal banking alarms as “potential criminal financial activity,” according to an investigation by two Senate committees released Wednesday. The Senate Homeland Security Committee and Senate Finance Committee’s investigation probed Hunter Biden’s foreign dealings during Democratic presidential nominee Joe Biden’s tenure as vice president. The report cited at least four large transactions that banks flagged in suspicious activity reports (SARS) to the Treasury Department’s Financial Crimes Enforcement Network. “The Treasury records acquired by the Chairmen...
    A new Senate report released Wednesday concludes that former Vice President Joe Biden allowed Hunter Biden and other members of his family to enrich themselves through links with foreign companies and governments while he was in office. The report notes that the Obama administration was aware of, but did nothing about the conflict of interest that was created when Joe Biden’s son, Hunter Biden, was appointed to the board of Burisma, a corrupt Ukrainian fossil fuel company. But the report goes further than what was revealed during the impeachment inquiry last year. It presents email evidence that former Secretary of State John Kerry, whose stepson Chris Heinz was one of Hunter Biden’s business partners, was also aware of the conflicts of interest. It adds that “Hunter Biden, his family, and [business partner Devon] Archer received millions of dollars from foreign nationals with questionable backgrounds.” It notes that Hunter Biden went on a “$100,000 global spending spree with James Biden and Sara Biden” after receiving money from a Chinese investor. And it adds that Hunter Biden appeared to have paid women linked...
    Sign up for the next China, Weekly email on where the nation stands now and where it goes next. Chinese regulators have promised to speed up the opening of its capital markets and deepen reforms to attract foreign investors. The regulator will expand the scope of investments allowed in the Stock Exchange project link with Hong Kong, and will allow foreign investors to trade more products futures, Fang Jinghai, vice chairman of the China Securities and Exchange Commission, told the China International Monetary Forum 2020 on Sunday. Beijing. Officials plan to announce revised rules soon on qualified foreign institutional investors to increase “willingness and confidence” to invest in China, he said. Foreigners currently hold only 4.7% Chinese shares in markets such as Japan and South Korea, which is less than 30%. “There is a huge potential for foreign capital to be raised,” Fang said. China is also opening its financial markets this year to allow Wall Street giants such as Goldman Sachs Group Inc. to take full ownership of the ventures in the country, relying on them to provide new...
    Following a Supreme Court ruling on the matter, the House Intelligence Committee has narrowed a subpoena request to focus more specifically on Donald Trump and the immediate members of his family: Eric Trump, Don Jr., and Ivanka Trump. The subpoena, which was originally broader and issued to Trump’s longtime lender Deutsche Bank, “no longer seeks financial records for any other members of President Trump’s family,” according to a memo released by the House Intelligence Chair Adam Schiff. Schiff added that the panel had taken action voluntarily in order to “accelerate resolution” of the matter. According to TPM, the move came after the Supreme Court laid out a new test last month instructing courts to weigh congressional subpoenas targeting a sitting president against whether the information can be obtained elsewhere, how broad the subpoena is, its legislative purpose, and how burdensome complying would be for a president. Trump had been fighting the original subpoena for over a year and will surely battle the newly abridged subpoena as well. In the memo, Schiff said the financial records request were part of the panel’s continuing investigation into “counterintelligence risks...
    Aerial view of Lujiazui Financial District at dusk, Pudong, Shanghai, China.Fei Yang | Moment | Getty Images U.S. sanctions on Hong Kong leader Carrie Lam raises uncertainty for international banks that were looking at a historic opening of the Chinese financial market. The U.S. Treasury announced Friday sanctions on the semi-autonomous region's chief executive and 10 other government-related individuals for "undermining Hong Kong's autonomy" and restricting freedom of expression. The decision generally prohibits the targeted individuals from accessing their U.S. assets and transacting with U.S. persons, including provision of funds. "It is at the very least awkward for US and foreign banks wanting to take advantage of market opening in China," Michael Hirson, practice head, China and Northeast Asia, at consulting firm Eurasia Group, said in an email to CNBC on Monday. He expects that while the Chinese government will not retaliate against the foreign banks, they will fall under greater pressure from the U.S. "Banks that don't comply with these sanctions risk losing access to the US financial system, which is of course an existential threat," Hirson said. In response,...
    Congress announced on Monday that it is opening an investigation into the financial ties between America’s top universities and the Chinese government along with other foreign governments. Harvard, the University of Pennsylvania, and Yale were amongst the institutions that have been sent letters by Congress that request the release of internal financial documents. According to a report by the New York Post, several top universities in the United States will now be required to hand over internal documents that pertain to their financial ties with foreign nations. Reps. Jim Jordan (R-OH), Virginia Foxx (R-NC), and James Comer (R-KY) sent letters on Monday to several top universities regarding their financial ties to foreign nations. The universities in question have one week to provide Congress with unredacted records of their financial exchanges with foreign nations. The letter demands that universities produce records that show all transactions with foreign nations that date back to January 2015. Over the past several years, several elite American universities have faced criticism over their ties to the Chinese government. In May, The Biden Center at the University of Pennsylvania...
    BEIRUT (Reuters) - French Foreign Minister Jean-Yves Le Drian is expected to urge Lebanon to enact badly-needed reforms to help get the country out of an acute financial crisis during a visit to Beirut which started on Thursday with a meeting with President Michel Aoun. The financial crisis, rooted in decades of state corruption and waste, marks the biggest threat to Lebanon's stability since the 1975-90 civil war. A collapsing currency has led to soaring inflation and poverty and savers have lost free access to their accounts in a paralysed banking system. France has led international efforts to get Lebanon to reform, hosting a donor meeting in 2018 when more than $11 billion was pledged for infrastructure investment contingent on reforms which were promised but not delivered. Lebanon began talks with the International Monetary Fund (IMF) in May but these have been put on hold in the absence of reforms and as differences arose between the government, the banking sector and politicians over the scale of vast financial losses in the system. The Lebanese presidency said Aoun met Le Drian,...
    Aeromexico airplanes at the Mexico City International Airport.John Gress | Corbis | Getty Images Delta Air Lines spent years amassing equity stakes in foreign airlines from the U.K. to Chile to grow internationally and gain sway over those carriers. The coronavirus pandemic has upended those plans and is proving costly as financial turmoil hits airlines around the world. Foreign-ownership rules generally prohibit outright ownership of airlines in other countries but equity investments and other partnerships have proved popular for airlines eager to gain access to international markets. But international travel has been particularly challenging in the pandemic as carriers grapple with not only concerns over the virus but outright travel bans. Delta's domestic passenger revenue, which makes up more than three-quarters of ticket sales, dropped 93% in the second quarter from a year ago, but revenue fell 98% in Latin America and 97% for trans-Atlantic routes. Delta on Tuesday posted a net loss of $5.7 billion in the second quarter, its largest quarterly loss in 12 years. The Atlanta-based airline took $2.1 billion in charges tied some of those investments in...
    Washington (CNN)The House of Representatives asked the Supreme Court late Monday night to move faster so it can begin a renewed attempt to obtain documents from President Donald Trump's financial firms.The court ruled Thursday that House committees could seek the documents, but it sent the case to a lower court to further review the subpoenas. However, since judgments are not normally issued until 25 days after the Supreme Court ruling comes down, that limits the amount of time the House has to go back through the lower courts. Monday's motion asks the court to cut the 25 days short and accelerate the process. Document: Supreme Court ruling on House Democrats request for Trump financial documentsSpeed is of the essence, House lawyer Doug Letter wrote, because the current subpoenas die when Congress ends in January."Immediate issuance of this Court's judgments would accelerate the proceedings in the lower courts so that the Committees may obtain the materials necessary to undertake any needed legislative reforms as quickly as possible to address, among other issues, conflicts of interest that threaten to undermine the Presidency,...
    People wearing face masks walk by a Luckin Coffee store on June 29, 2020 in Yichang, Hubei Province of China.Liu Junfeng | VCG | Getty Images You've heard about the trade war with China. There may be a separate, potential "financial war" brewing. The Securities and Exchange Commission wants you to know more about what is happening with Chinese companies that list in the United States. The regulators also want you to know that they are having a really hard time finding out exactly what is going on.  Thursday the SEC is holding a roundtable discussion on emerging markets, but it's really about the next phase in an ongoing effort to get Chinese regulatory authorities to be more transparent about what is happening inside Chinese companies that list on U.S. exchanges. This has been a problem for years, but it is now getting serious traction due to the escalation of trade disputes with China. More than a decade ago, hundreds of Chinese companies went public in the U.S. via reverse mergers, merging into public but mostly dormant U.S. companies. Many...
    Pedestrians ride an escalator near a Government National Security Law poster in a MTR Corp. train station in the Wan Chai district in Hong Kong, China, on Thursday, July 2, 2020.Ivan Abreu | Bloomberg | Getty Images China is paving the way for more money to flow into Hong Kong and shoring up its status as a financial hub. Investors and foreign companies have been wary that Hong Kong's status as a financial hub might be eroded, as China last week went ahead to implement a controversial national security law in the city despite criticism. That has caused friction with Washington, which has said it will revoke Hong Kong's special trading status with the U.S. Against that backdrop, China's central bank last week launched an initiative — the Wealth Management Connect — that analysts said will bring more inflows into Hong Kong, and attract foreign financial institutions to expand their business in the city. Hong Kong saw strong inflows last month, as two U.S.-listed tech giants Netease and JD.com launched mega secondary listings in the city.If you thought Hong Kong's status as a financial...
    A report by the Vatican Financial Information Authority revealed that the potential crimes were international fraud and embezzlement. The Financial Information Authority (AIF) of the Vatican It made 64 reports of suspicious activities in 2019 and established four preventive measures, according to the Annual Report presented this Friday by that agency. IDA President, Carmelo Barbagallo, stressed in the presentation that the entity over the last few years “has become an authorized subject in the fight against money laundering and the terrorist financing“ In the Report it was pointed out that last year “information was exchanged with foreign supervisory authorities in many cases ”and which includes preventive measures include the blocking of two current accounts. Regarding the possible financial crimes, it was stated that most of them “involve foreign subjects or conduct carried out in foreign jurisdictions or in relation to them ”. The potential crimes were “the international fraud, including the fiscal fraud, and the embezzlement“ In the framework of IDA work, two inspections were carried out in the Institute for the Works of ReligionThe second of them, in...
    TOKYO (Reuters) - Japan will boost visa support, lure more international schools and streamline procedures for obtaining investment management licenses to attract highly skilled foreign finance workers, according to a draft proposal from the ruling party seen by Reuters. Japan has sought for years to attract foreign professionals in the sector to improve Tokyo's standing as a global financial centre, and the proposal aims to push the government to accelerate such moves, with Hong Kong residents in mind. China on Saturday unveiled details of a new national security law for Hong Kong, which has raised fears among democracy activists and some foreign governments that Beijing is further eroding autonomy there. "Given the current geopolitical situation in Asia, Japan should take advantage of being a safe business location, which is supported by solid democracy and the rule of law," said the proposal by the ruling Liberal Democratic Party, while not mentioning specific countries. Japan will improve the educational environment for families of highly skilled foreign workers by enticing more international schools as well as boosting visa support for assistant staff, the...
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