China starts $21.8 billion offshore fund amid currency concerns
- 07-Dec-2016
BEIJING: China’s central government has launched a 150 billion yuan ($21.79 billion) fund designed to support investments offshore by Chinese companies as well as the country’s new Silk Road initiative. The first phase of the Guotong Fund, capitalized at 70 billion yuan, was registered on Nov. 25 in Hangzhou, according to a statement posted Wednesday […]
UK’s Cameron admits he profited from father’s offshore fund
- 08-Apr-2016
LONDON: British Prime Minister David Cameron admitted Thursday he had held a £30,000 stake in an offshore fund set up by his father, after days of pressure following publication of the so-called Panama Papers.
Panama Papers: UK PM under pressure over family wealth
- 05-Apr-2016
LONDON: Prime Minister David Cameron came under pressure to explain his family's financial affairs on Tuesday after the Panama Papers revealed his late father ran an offshore fund which avoided paying tax in Britain for 30 years.