Taxes
Every night at 9 p.m. ET, the People’s Bank of China (PBOC) fixes a level at which the Yuan (Renminbi) will trade against the U.S. dollar within China. On Wednesday, the central bank sets the Yuan midpoint at 6.9996 per dollar. But by Thursday, it crossed the red line and breached the 7 level – […]
... written on Aug 08 2019In retaliation for Donald Trump’s announcement last week of new 10% tariff against an additional US$300 billion of Chinese goods, effective September 1, Beijing has finally fired its biggest shot since the trade war started in March 2018. It devalues its currency Yuan (Renminbi) and officially suspends purchases of American agricultural products. As a […]
... written on Aug 06 2019In March 2018, about 17 months ago, President Donald Trump confidently – even arrogantly – said that trade wars are good, and easy to win. His first shot at Mexico, imposing a 25% tariff on steel and a 10% tariff on aluminium, helped spark a 420-point drop in the Dow Jones Industrial Average (DJIA) and […]
... written on Aug 05 2019A day after the Wall Street crashed 333 points as a result of less than impressive interest rate cut by the Federal Reserve, the stocks made an incredible rally – skyrocketed to as much as 311 points – until Trump spoils the party. The president dropped a bombshell when he declared an additional 10% tariff […]
... written on Aug 02 2019From May 2009 to April 2018, Najib Razak earned RM58,605.15 every month as the 6th Prime Minister of Malaysia. Prior to that, he took home RM48,681.65 as the country’s 9th deputy prime minister. On top of that, his monthly allowances were RM3,846.59 as PM and RM6,508.59 as MP (2011 to 2014). The allowances were later raised […]
... written on Jul 26 2019In March 2018, India raised the import tax on crude palm oil to 44% from 30% and hiked the tax on refined palm oil to 54% from 40%. The fourth increase in import tax in less than 6 months – the highest level in more than a decade – was to protect the country’s local […]
... written on Jul 19 2019For the 12-month period from April 2018 to March 2019, U.S. home purchases by foreign buyers dropped 36%. According to the National Association of Realtors (NAR), foreigners bought only 183,100 properties worth about US$77.9 billion, down from 266,800 valued at US$121 billion in the previous period. That’s a loss of US$43 billion worth of home […]
... written on Jul 18 2019Legend says that Chinese civilization is 5,000 years old. But some argued they were only 3,200 years old. Regardless, the fact remains that while the Chinese civilization survives thousands of years, the Roman Empire did not. Throughout the history, the empires and kingdoms of ancient China had gone through uncountable collapses and rises. So when […]
... written on Jul 16 2019It’s been 14 months since Pakatan Harapan (PH) took over. The jubilant and exuberant spirit has long gone. Nowadays when PH politicians speak, people start grumbling about promises not fulfilled. How are people to trust a government that doesn’t fulfill it’s manifesto’s promises? Do they think people are fools to be taken for a ride? […]
... written on Jul 14 2019Against the threat of retaliation – even trade war – from the United States, the French have decided to slap a new tax on American companies. On Thursday (July 11), France’s Senate approved “3% digital tax” on the revenues of multinational firms and tech giants like Facebook, Google and Amazon. Trump administration warned that such […]
... written on Jul 12 2019
