The Oldest Prostitute in the Neighbourhood

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 And of course, most prominently, there’s our old sparring partner Oleg Deripaska, the prince of Russian aluminium. When he listed his master company Rusal in Hong Kong in 2010, I observed that it ‘set a new benchmark for just how risk-laden a stock can be and still gain access to public markets’ and that the only analytical tool with which to address such an impenetrable offering ‘must surely be a very long bargepole’. When he listed his new master company EN+ (by now the majority owner of Rusal) on the London Stock Exchange last November, I suggested that ‘the City shouldn’t be doing business with anyone so close to Putin’s Kremlin’, particularly when the £1 billion proceeds of the float were flowing back as debt repayments to Russian banks that were already subject to US and EU sanctions following Russian aggression against Ukraine. I gather MI6 made the same point, but to no avail.


Death, Tax and Self-Interest… all unavoidable

I can almost hear the wailing voice of the “global elites” with addiction for low income tax…

“No, no, no… we can monitor Tokyo from Hong Kong/Singapore… I mean, it’s temporary… I am sure.  Besides, the big story is still, and will always be, China. Yes, yes, I know… but I have always told you it’s a long-term investment (till my retirement fund is big enough)… What?  Oh… no, my Mandarin is still poor but I have a good local team… trust me…”

Japanese equity business outstrips Hong Kong

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