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July/August 2009
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Investment
INTERNATIONAL
Comment
Contents
Jonathan Ball, editor
4 News
I
am writing this the day after returning from the Turkish Republic of
Northern Cyprus, as a guest of the government who were celebrating
The work of the
7 Letter from America
the 35th anniversary of what they term their Peace and Freedom Day,
9 The Sovereign Group 20 July. I hasten to add that I am not in any way making any political
Depositors Action
analyses the impact on point here. I am acutely aware that the magazine has a substantial
offshore property prices of
number of Greek Cypriot readers, and I have no wish to offend their Group that has
a new breed of British tax
sensibilities. There are obviously at least two perspectives on every
refugee
situation. been set up to
11 Bartercard
What did strike me most forcibly, however, was the genuine respect
accorded by the general populace towards politicians. Politicians are
Wayne Sharpe, Founder
assist those who
seemingly perceived as genuine, honest people who can be entrusted to
and Chairman of
make sound investment and financial decisions with the interests of their
Bartercard, explains the
have been
citizens as their ultimate goal.
process whereby account-
What a contrast to this country. Our politicians have now truly
holding businesses can
defrauded – and I
reached a nadir in terms of public respect, and no-one could legitimately
exchange goods and
express surprise at that.
services with each other
do not feel that is
But there is one – very honourable – exception. Vince Cable, the
15 Bupa International
Liberal Democrats Shadow Chancellor and Deputy Leader. He was one
of the few who had the foresight to foresee the present financial crisis,
too strong a word
Dr Sneh Khemka, Medical
Director at Bupa
fuelled by the ridiculous levels of credit granted to people who blatantly
could not afford to repay. More importantly, he has emerged totally
– is also to be
International, continues
with the organisation’s
unscathed and untainted by the scandals that have rocked so many of his
peers in the House of Commons.
greatly applauded
articles on the medical
facts of life. This month he
But perhaps the most impressive aspect of Cable is the calm, measured
authority he exudes when commenting on a variety of investment and
analyses why healthcare
financial issues. He has been at the forefront of campaigning vigorously
standards vary so much
on behalf of those who have so cruelly, and ruinously, been let down by
around the world
the debacle of the Kaupthing Singer & Friedlander Isle of Man collapse.
18 HSBC expat survey That particular saga appears to be making slow, but nevertheless
The first part of the 2009
significant, progress. While the outcome is still by no means certain,
HSBC Bank International
there is at least some grounds for greater optimism than had been the
expat survey
case even a few months ago. The work of the Depositors Action Group
24 J.P. Morgan on Asia
that has been set up to assist those who have been defrauded – and I do
Geoff Lewis, Head of
not feel that is too strong a word – is also to be greatly applauded. I shall
return to this subject in the September issue of the magazine.
Investment Services with
This is yet another blinding example of the need for greater regulation
J.P. Morgan Asset
and transparency of banks and their activities. Vince Cable would
Management, Asia,
certainly approve.
analyses the current
situation in Asia
Front Cover photograph – courtesy of the CBI
25 Jurisdiction on Jersey
The formation of Editor Issue 227: July/August 2009
Foundations has begun on
Jonathan Ball, 0207 490 0739
Jonathan@thepublishinggroup.co.uk
ADVICE TO READERS
Investment
the island
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Head of PR & Events
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INTERNATIONAL
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examines the situation on
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Publisher
and do not necessarily represent those of The Publishing
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AB Property Marketing
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Managing Director
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focuses on Brazil Ramesh Sharma, 0207 490 0719
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Comment and analysis
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Offshore Funds Tables
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www.investmentinternational.com July/August 2009 Investment International
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