The Bulgarian government has cut the tax payable on dividends from 15% to 7%. According to a spokesman for Bank Austria Creditanstalt (BA CA) in Sofia, no dividend tax will be due to investors based in the European Union (EU)
Fidelity Investments has introduced a Buy Out Plan to its range of DC product options. This will enable trustees of occupational pension schemes to transfer liabilities to individual member policies and thus, will help trustees looking to rationalise pension arrangements,
Auerbach Grayson & Company, the New York based firm that runs a network of local brokerage firms for US institutional investors, says Andisa Securities the stockbroking arm of Andisa Capital (Pty.) Ltd., of South Africa has become the firm's exclusive
CIBC Mellon has been appointed by Manulife Financial Corporation to act as its sole custodian for general, segregated and mutual funds in Canada, a mandate totalling $60 billion in assets. "We selected CIBC Mellon because of their strong industry reputation,
Fitch Ratings has given ABN AMRO Mellon Global Securities Services Long and Short term ratings of 'AA ' (AA minus) and 'F1+', respectively. ABN Amro Mellon says the ratings reflect the support that Fitch believes will be available to creditors
NewSmith Asset Management LLP has appointed the Bank of New York to provide global custody and trustee services to its first Dublin based long only fund. The trustee services will be provided by AIB BNY Trust Company Limited in Dublin.
Norwich Union, the UK's largest insurer, is calling on the UK Treasury to scrap what it calls "the latest stealth tax proposals." Under plans announced in the pre Budget statement on 2 December, the tax payable on the free reserves
Aegon says that its 50 50 joint venture with the Chinese National Offshore Oil Corporation the AEGON CNOOC Life Insurance Company Ltd. has received a license from the Chinese regulatory authorities to start life insurance activities in Beijing. Following the
Deutsche Bank announced on Friday that it had completed the integration of Dresdner Bank's institutional custody business in Germany. The bank says the transition involved the transfer of more than 100 institutional clients, who held the vast majority of assets
Many firms will be "authorised but not compliant" when the Financial Services Authority (FSA) starts to regulate the general insurance industry in the UK in January 2005, according to a survey of over two hundred of the industry's senior management