Gold remains a reliable asset
The market of precious metals after the New Year surprises with its diversity. The search for fallback options for traders and investors leads to a natural increase in gold and…

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Do not count money - and you will be rich!
There are many magical rituals for money. But sometimes in everyday life we ​​perform the most ordinary, it would seem, actions that attract financial welfare or, on the contrary, make…

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Banks slip on their own cards
From January 1, the Federal Law "On the National Payment System" will enter into force. The document has claims from the banking community. The project involves obliging banks to return…

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Brazil

A trifle is an expensive pleasure

The proverb “small spool, yes expensive” is beginning to take on more and more meaning. The production of small money is starting to cost the world so dearly that economically weak countries have long abandoned it, and the stronger ones are looking for options that would reduce the cost of small things at least to the level of their nominal value, but these efforts lead to funny results.

As soon as mankind invented money, how did he immediately encounter the need to somehow break it into smaller parts, because you won’t start giving the same money for a cow and chicken? However, it quickly became clear that it was not so easy to divide the main (usually gold or silver) coin into shares. As a result, the ancient Greeks, for example, had to use coins of about two dozen denominations. After a series of reforms and troubles, the Roman Caesars managed to reduce the variety of coins to five denominations from the largest – aureus to the smallest – ace (400 aces were considered in one aureus). Inattention to a small coin, as a rule, cost dear rulers: before the modern monetary system developed, more than one state was shocked by outbreaks of social discontent caused by this reason. Continue reading

Credit treat for scams

Lending to individuals is growing faster than the corporate borrowing market. In April, the volume of money issued to Russians for personal needs increased by 3.8 percent compared to 2.4 in the field of lending to non-financial organizations and exceeded six trillion rubles. It is not surprising that such amounts attract all kinds of crooks who want to grab at least part of such a tidbit. How often do banks face retail lending fraud? What debt schemes attract the most attention of scammers?

A Bigness correspondent addressed these questions to several of the largest Russian financial institutions that are leading in the consumer lending market – Sberbank, VTB24, Home Credit … But everywhere he was either at a loss or refused to provide data on this issue. Or, as in Raiffeisen Bank, they stated that there were no cases of fraud in their practice, as the bank’s experts meticulously check all the documents provided by the borrowers.

Bankers’ secrecy is easy to understand. Fraud for any type of loan is a painful topic for bank employees. However, this secrecy indicates the urgency of the problem. Another confirmation of this is the adorning website of Home Credit Bank for calls to borrowers to be vigilant about possible scams. Continue reading

Private sector hides money offshore

From 21 to 32 trillion dollars are hiding from taxation in various regions of the world and bank accounts. In total, about 10 million people use offshore accounts to hide funds. These figures appear in a report by James Henry, a former economist at McKinsey & Co consulting company, prepared for the Tax Justice Network.

Of the total amount of $ 32 trillion, about half are for 100 thousand people. Tax fees of $ 32 trillion could amount to up to $ 280 billion annually. When evaluating tax evasion, James Henry only considered financial assets. Real estate, luxury goods, yachts, etc. were not taken into account, RBC reports citing an economist report.

According to the report, the official data of the IMF, the World Bank, the UN and the central banks of various countries of the world were used for calculations. “From an economic point of view, the private sector is a black hole,” the report concludes. In addition, it is emphasized that a global banking conglomerate, represented by such structures as HSBC, Citigroup, Bank of America, UBS, Credit Suisse, is involved in fund-raising operations. Continue reading

The country's infrastructure is thirsty for investment
As part of the third day of Mosinterfin-2012, work began with a plenary strategic session "Attracting Investments in Infrastructure Projects in Russia: Actual Problems, Models of Solution". At the same…

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Find an Idea: Get Money from Water
In English, there is the concept of serendipity. In literal translation, it means intuitive insight. But in business, such a resounding word is used when it comes to a discovery…

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100 facts about life and business from a venture investor
Alexander Zhurba, Managing Director and Co-Founder of Genezis Capital Fund, formulated 100 facts that he learned by the age of 27 about life and business. Recommended reading, it's worth it.…

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Dummy for a million, or strange lots
“To sell something unnecessary, you need to buy something unnecessary,” the hero of the legendary Soviet cartoon used to say. Auctions on the Internet have become an excellent platform for…

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