Friday, October 7, 2022

US loses strength as a private wealth magnet while Canada holds its own

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The United States has plummeted to 6th place in the Top 10 countries globally in terms of net inflows and outflows of millionaires projected for 2022, according to the forecast high-net-worth-individual (HNWI) figures published by Henley & Partners in the Henley Global Citizens Report, which tracks private wealth and investment migration trends across the globe.  

China forecast to see highest net loss of millionaires in 2022 after Russia

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China is forecast to suffer a net loss of 10,000 US dollar millionaires in 2022, and Hong Kong is predicted to lose 3,000 more high-net-worth individuals (HNWIs), according to the Henley Global Citizens Report, which tracks private wealth and investment migration trends globally. As expected, Russia has experienced the biggest exodus of millionaires over the past six months, with forecast net outflows of 15,000 by the end of 2022 — a massive 15% of its high-net-worth individuals (HNWIs) population and 9,500 more than in 2019, pre-pandemic.

Singapore, ANZ are top millionaire magnets reports Henley & Partners

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Indonesia is forecast to suffer a net loss of around 600 US dollar millionaires in 2022, putting it in the Top 10 countries globally that are predicted to lose more high-net-worth individuals (HNWIs) than they attract this year, according to the latest Henley Global Citizens Report, a study which tracks private wealth and investment migration trends across the globe.

The acclaimed China International Import Expo readies for its fifth edition

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The fifth China International Import Expo will take place from November 5-10 this year. Buoyed by its opening-up policy, continuous optimization of the business environment and strong economic resilience, China will remain a hot investment destination in the years to come, said global experts at the World Economic Forum (WEF) 2022 in Davos, Switzerland.

Illicit market continues to grow in the EU driven by counterfeits in France

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Philip Morris International Inc. is calling for European policymakers to consider the millions of adult smokers who are turning to the illicit market instead of switching to better alternatives. The 2021 KPMG annual study on illicit cigarette consumption, commissioned by PMI, reveals that illicit cigarette consumption increased by an estimated 3.9%—or 1.3 billion cigarettes—last year, reaching 35.5 billion cigarettes consumed across EU member states. Meanwhile, the study estimates that total EU cigarette consumption declined over the same period.

Aussie construction industry trails NZ and Asia on digital transformation

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Procore Technologies, Inc., a global provider of construction management software, released the third edition of its construction industry benchmark report How We Build Now. Despite significant headwinds, 85% of Aussie respondents remain confident about the 12 months ahead, up from just 43% in April 2020. While optimistic, Australia lags behind the APAC average of 91% and is at the back of the pack when it comes to tech adoption.

Jamaica plots more sustainable and innovative investments in 2022

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As Jamaica pursues its Vision 2030 development plan which will transform the island’s economy, the country’s gov't continues to seek innovative investments that can accelerate economic growth. These investment projects will not only provide economic rewards, but will also be sustainable, create new avenues for development in communities, towns, and cities, and will lead to significant improvement in Jamaica’s overall business environment.

The impacts of China’s COVID lockdowns on Australian agriculture

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Strict lockdowns in China – as the country tries to eradicate the spread of COVID – are not only affecting its citizens, but also having flow-on impacts on trading partners, like Australia. There are four impacts of the lockdowns that are set to have ramifications for agribusiness – disruptions to freight logistics, Chinese corn plantings, dairy demand and hog pricing.

Executives share thoughts about the latest Australian federal budget

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Following the federal budget announcement last week, several executives from various businesses across Australia shared with BusyContinent what they’re satisfied with, what they’re not...

How Brexit is creating a host of new export and trading opportunities, especially for...

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As the United Kingdom begins to settle after the changes brought on by Brexit, it is clear that many traditional avenues of export – and by extension business growth – have been closed off. Goods and services trade with EU partners is declining, but other regions are now rising to fill the breach.