Daily Wealth Letter from The Wealth Forums 23 May 2016

Reports — By on May 23, 2016 at 12:40 PM
Richard Moir, The Wealth Forums CEO

Richard Moir, The Wealth Forums CEO

 

DAILY WEALTH LETTER

 

 a daily synopsis of wealth news that’s most relevant, timely and dependable

 

 

Compiled and edited by Ian Brodie of The Wealth Forums (www.thewealthforums.com)

 

 

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NUMBER 216  MONDAY,  MAY 23,  2016
 

Panama takes action on law office

Panama’s attorney general, Kenia Porcell, has reportedly ordered Mossack Fonseca, the law firm at the centre of the massive leak of confidential files known as the Panama Papers, to close down its “wealth management” subsidiaries and affiliates.   READ MORE: https://thewealthforums.com/2016/05/23/panama-takes-action-on-law-office/#more-3845

Russian capital flight increases

More than 700 billion roubles ($10.5 billion) was transferred illegally from Russia into offshore accounts in 2015, the Russian Interior Ministry announced Friday. READ MORE: https://thewealthforums.com/2016/05/23/russian-capital-flight-increase/#more-3838

Saudis pay bills in IOUs

Saudi Arabia faces a vicious liquidity squeeze as capital continues to leak out of the country, with a sharp contraction of the money supply and mounting stress in the banking system.  READ MORE:https://thewealthforums.com/2016/05/23/saudis-pay-bills-in-ious/#more-3825

 

The Wealth Letter is published every business day by The Wealth Forums: www.thewealthforums.com

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