Word: riche
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Dates: during 2000-2009
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...residents. And as the rate goes up to 35% by 2011 in compliance with the E.U. directive, foreigners will find the Swiss tax man reaching deeper into their pockets. But for every tax haven that loses its seductive charms, there's another working hard to woo the rich. Dubai, which has been dubbed the Switzerland of the gulf, has spent billions creating zones where foreigners can set up and invest in companies free from corporate tax. And other gulf states like Qatar and Oman are following Dubai's lead by making their own tax regimes more foreigner-friendly...
Then there are Singapore's new trust laws, which help the rich keep their fortunes in the family by letting them pass assets on to beneficiaries tax-free. And the perks strongly favor foreigners. "To get all the benefits one must not be Singaporean, nor should one's beneficiaries be Singaporean," says Michael Troth, Asia-Pacific head of global wealth-structuring for Citigroup. As a result, says Troth: "Singapore is becoming the predominant provider of trust services to our Asian clients...
With so many countries doing all they can to lure the rich, Britain's decision to get tough on tax breaks seems either brave or crazy. The government's gamble is that London, in particular, has so much else to offer its nondoms - a leading position in financial services, world-class culture, easy access to Europe, the U.S. and the Middle East - that most will stay and pay. But at a time when the economy is already showing signs of wear and tear, there's clearly a danger that the foreign rich will pack up and take their fat wallets...
...Aswany's rich tableaux of everyday lives and devastating social commentary have made him a wildly popular novelist in his native Egypt and the best-selling Arab writer both in the Middle East and abroad. A tale about the lives of various Egyptians living in Chicago, the book is already in its 12th Arabic print run, having sold 100,000 copies since its publication a year ago. Post 9/11, readers outside the Middle East are more interested than ever in understanding Arab societies, and many of them are becoming devotees of Al Aswany's writing. Last fall, a translation...
When they built the FAS IT server, they said she was unsinkable. She was the fastest anyone had ever seen, the most powerful. Her reputation preceded her, and she attracted the attention of the rich and the powerful, all of whom were eager to send e-mails and attempt to unlock the mysteries of navigating her enigmatic interface. She was a true triumph—in fact, she seemed to almost symbolize man’s capabilities, and his capacity to break free of the puny constraints of nature...