Thursday, January 20

Day: March 16, 2016

Buy-to-let tax: Why a landlord exodus remains unlikely
ENGLISH, United Kingdom

Buy-to-let tax: Why a landlord exodus remains unlikely

    The growth of buy-to-let has been among the defining characteristics of the post-crisis mortgage market. Council of Mortgage Lenders figures released this month show that lending to landlords accounted for 17 per cent of all new loans in the third quarter of 2015. With rising property prices, meanwhile, property consultants Savills estimated last year that landlords had benefited from £177bn in capital growth since the start of the decade. In one sense, the changes being introduced by the government, which is increasing stamp duty on buy-to-let property while reducing the available tax relief, are substantial. The stamp duty hike alone – 3 per cent on top of current levels – is expected to raise £3bn over the next five years. So what impact, if any, will this have on the g...
Philippines bank manager confessed wrongdoing, says trader
Asia, ENGLISH

Philippines bank manager confessed wrongdoing, says trader

    Rizal Commercial Banking Corp. (RCBC) branch manager Maia Santos Deguito in the alleged scheme to launder US $81 million, saying she confessed she had done something wrong by opening an account in his name and even apologised for it. It was an account in William So Go’s name where the $81 million in questionable funds was consolidated before being transferred to casino accounts. But he has denied owning the account. Go, appearing before the Senate blue ribbon committee hearing, narrated his February 22 meeting with Deguito, facilitated by an East West Bank manager he identified as Allan Peñalosa. It was Peñalosa who first invited him to a meeting and even asked him if he wanted to earn “200 million”. Peñalosa told him he could not explain it fully and then brought him to me...
Budget 2016: Richest 1% has gained over 15 years while the poor have lost out, Oxfam says
ENGLISH, United Kingdom

Budget 2016: Richest 1% has gained over 15 years while the poor have lost out, Oxfam says

    The organisation explained that between 2000 and 2015, the total net wealth of people in the UK had increased from £6tn (€7.73tn, $8.63tn) to £10tn, based on numbers from Credit Suisse. However, while just 7% of this new wealth created went to the UK's poorest 50% of 30 million people, the collective wealth of the richest 1% or 600,000 people increased by 79% to £2.4tn, during this period. The timing of this report is significant as it comes ahead of the 2016 budget that is scheduled for 16 March. Mark Goldring, chief executive at Oxfam said: "It's simply not right that a tiny group of individuals hoovers up so much of the UK's growing prosperity while barely any trickles down to those who have least. We need action to ensure that a rise in wealth is more evenly shared ...
Royal Brunei Airlines first all female pilot crew lands plane in Saudi Arabia where women are not allowed to drive
Arab world, ENGLISH

Royal Brunei Airlines first all female pilot crew lands plane in Saudi Arabia where women are not allowed to drive

    The first ever all-female flight deck crew for Royal Brunei Airlines has operated a plane from Brunei to Jeddah in Saudi Arabia. But while it was a milestone for the airline, the pilot crew touched down in country where women are still not allowed to drive a car. To mark Brunei’s National Day on 23 February, which celebrates the country’s independence, Captain Sharifah Czarena Surainy, Senior First Officer Dk Nadiah Pg Khashiem and Senior First Officer Sariana Nordin landed flight BI081 in the Middle Eastern country. The occasion came just over three years after Captain Sharifa Czarena Surainy became the first female captain of a flag carrier in Southeast Asia. She told The Brunei Times in 2012: “Being a pilot, people normally see it as being a male dominant occupation.” “...
North Korea sentences US student to 15 years hard labour
Asia, ENGLISH

North Korea sentences US student to 15 years hard labour

    North Korea’s highest court has sentenced US student Otto Warmbier to 15 years’ hard labour. Warmbier, a 21-year-old University of Virginia undergraduate student, was convicted and sentenced in a one-hour trial on Wednesday morning at the North’s supreme court. He was charged with subversion. He was arrested as he prepared to leave Pyongyang in January. Last month he was paraded in front of the media as North Korea announced it was charging him with the theft of a political banner. During the press conference he broke down, acknowledging and apologising for the supposed crime. According to Warmbier’s statement, he took the banner with a political slogan on it as a trophy for a church member, who was the mother of a friend. In previous cases, people who have been detained i...