Business

China Enacts New VAT Law to Take Effect in 2026 0
- Business
- 12/26/2024
The law consolidates existing regulations and introduces exemptions for various sectors. On December 25, China approved a new value-added tax (VAT) law, which is set to come into effect on January 1, 2026. This law consolidates previous VAT regulations, including exemptions for certain goods and services, into a single document. VAT, which is the largest
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Allianz Ends $2.2 Billion Acquisition Plan with Income Insurance Amid Regulatory Scrutiny 0
- Business
- 12/16/2024
German Insurer Withdraws Offer Citing Financial Prudence After Government Intervention Allianz has officially ended its bid to acquire a 51 per cent stake in Income Insurance for S$2.2 billion, citing financial discipline and regulatory challenges as key reasons behind the decision. The German insurer’s withdrawal marks the conclusion of a five-month pursuit to secure control
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IFC and HSBC Collaborate on US$1 Billion Facility to Strengthen Trade Financing 0
- Business
- 12/12/2024
Partnership Aims to Bridge Trade Finance Gaps in Emerging Economies The International Finance Corporation (IFC), a division of the World Bank Group, and HSBC Holdings have launched a joint US$1 billion risk-sharing facility to bolster trade financing in emerging markets. This initiative, announced on Thursday (12 December), will distribute risk equally between the two organisations,
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