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Justin left high and dry

Justin left high and dry Amanda Fisher and
Amira Agarib / 6 May 2013 Dubai authorities made a “special rule” allowing underage Justin Bieber into a top nightclub, but the pop sensation promptly left after being denied alcohol, performing an ‘illegal’ car manoeuvre on his way out, according to the club. Bieber, in town for concerts on Saturday night and last night, left club Movida, located in the Radisson Royal Hotel along Shaikh Zayed Road, in dramatic fashion about 2.15am on Friday morning, surfing on the rooftop of an SUV as it rode away, club manager Richard Haddon said. “There were a lot of people who were outside (watching)…he obviously knows how to get publicity.” In accordance with Dubai traffic laws, riding an SUV is an offence. But a Dubai police official denied knowledge of the incident involving the singer at the nightclub and his alleged stunt on the road, which he said was a violation. “Laws are applicable to all residents and visitors; only residents can obtain an alcohol licence,” he said. Most clubs do not ask for proof of age, the police official said and confirmed that 21 was the minimum drinking age in bars, nightclubs and restaurants. Haddon said while he did not witness Justin’s manoeuvre, and could not comment on how dangerous it was, he “wouldn’t recommend it” to other patrons. The 19-year-old, who is two years too young to enter clubs or drink alcohol, in line with Dubai rules, has been implicated in a string of unfavourable incidents in recent months, including repeatedly playing concerts late — again beginning his first Dubai show two hours late, prompting concerns from some parents — trying to smuggle a capuchin monkey into Germany, and getting photographed smoking what appears to be marijuana. Bieber arrived in Movida about 1.30am with an entourage of about 20, including his security, Haddon said, and seemed in good spirits. “He enjoyed himself.” Haddon said Bieber had spent some time in the middle of the club as he walked through to use the washroom. “The crowd loved it, normally with celebrities they tend to go straight to the (VIP) table.” However, he did not interact with other club-goers, as “he had four decent-sized security guards around him all night,” Haddon said. Movida, which also has a club in London renowned for drawing in A-list celebrities, had attracted big names such as 50-Cent, Usher and Nicki Minaj to the Dubai club in the year it had been open, he said. Haddon would not reveal which authority had given the exemption, though he said it was the first time such a move had ever been taken by Movida. When contacted, the Dubai Municipality and Dubai Events and Promotion Establishment also denied being the authority that had authorised the move. “Part of the stipulation was (Bieber) wasn’t allowed to consume alcohol…and that was the reason why in the end he left,” Haddon said. Bieber had started off on soft drinks, but left after three quarters of an hour when he was denied alcohol. “It was a bit of a surprise (he left). The rest of the people in his group were all over 21 and they were drinking.” Haddon said Bieber’s management, who appeared to be trying to keep the increasingly volatile teen heartthrob on a “short leash”, were made aware of the no-alcohol policy well in advance of the evening. “He’s obviously one of those people who his management don’t find easy to control.” Haddon said celebrity appearances were organised through contacts in concert promotion, with Movida cornering the “celebrity market” in Dubai. “Whenever they’re bringing big stars into town, they generally let us know in advance if they’re looking to party.” A spokeswoman for Done Events, the company looking after Bieber’s Dubai trip, said she could not comment on his antics outside the show. “Anything he did he did was on his own accord.” It would be difficult to tell the songster to avoid going out while in Dubai, “because he’s Justin Bieber”, but the company would have given him advice to avoid hot water had he asked, she said. “We obviously can’t control him and if he wants to go out and sightsee we can guide him in the general direction…but things like clubbing etc, we don’t promote and we didn’t offer for him to do that. “He is free to do what he wants.” news@khaleejtimes.com Continue reading

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New Tax Havens In Search For Investors After Cyprus Scandal

New tax havens in search for investors after Cyprus scandal © Photo: www.tOrange.biz Download audio file Financial consultants that are good at keeping money hidden and safe got a new challenge recently. Right after the Cyprus scandal they had to offer something more reliable. Hungry for fresh money that without any question sooner or later will burst through Cypriot financial border, other tax havens started promoting themselves. Switzerland, Luxembourg and Caiman Islands, as well as a host of other locations, including Dubai and Singapore, are looking for investors. And recently they have found their first ones. The Russian banks changed their offshore accounts residency when issuing Eurobonds. According to open sources financial Moscow-based organizations like VTB and Sberbank increased they are investments in foreign bonds issued in Luxembourg, Netherlands and Ireland multiple times. It is just for safety? Russian economist, Sergey Alexashenko, gave an interview to the Voice of Russia. Greetings Sergey! Good evening! How are you? I’m pretty good, thanks. I hope you too. Let’s clear up for our listeners why should companies invest in foreign papers in the first place? Is it good when money work for a native of economy? It is interesting that there is little bit of misunderstanding. Cyprus was used by the Russian companies and banks as a jurisdiction for their special purpose vehicle companies that were issued to Europe for Eurobonds. For example, the Russian legislation does not allow to fit all the requests of international investors and that’s why for issuing Eurobonds, Sberbank or VTB, they have established previously a special company in Cyprus under Cyprus law and under the jurisdiction of the High Court of London and that’s why it was easier to have access to investors. And after Cyprus lost its credibility Russian corporates and bank, they are not sure about the future of such companies and they are looking for other jurisdictions for the same purposes – just to establish special companies that will issue Eurobonds for their mother companies that are domiciled in Russia. According to the latest reports EU is really tightening the nuts, even Luxemburg set the date to lift bank secrecy rules. The new policy will take effect in 2015. But that’s just for the EU citizens. What about international corporations? Don’t you think they will be next? Yes you are right. There is another side of the story that the European authorities, as well as American authorities, they try to press offshore countries to increase taxes. That is a financial mechanics and it will affect many companies. And that’s why the decision of Luxemburg to open the banking secrecy, to make it more transparent for tax authorities is as well the result of the pressure from the European authorities to make life for national budgets easier, it is not an easy time for them. German Finance Minister said that the problem that sparked Cyprus scandal was very simple – the country just doesn’t produce enough goods or services to keep the economy balanced. I agree with him. I think that the problem of Cyprus is that two Cyprus banks were oversized. They were much bigger than the size of the Cyprus economy. They have raised enormous amount of deposits and invested much cash in Greek economy. And because of the crisis in Greece banks met losses. It is not the question of stability of the Cyprus economy or anything else. What other tax havens may offer their services? And where is the end to tax havens? Will they be closed? I’m afraid it is not possible to close all tax havens and all offshore countries because it is required for financial mechanics. Caiman Islands legislation is well fitted for investors. Bahaman legislation is well fitted for trusts and so on. So, in the world we have more than 200 counties and I’m afraid it is not possible to make all of them equal in fighting offshore, in fighting tax haven. Moreover, in many-many financial instruments you need jurisdictions with lower taxation where you wouldn’t lose money if you transfer cash from one economy to another. Read more: http://english.ruvr….4_30/214184615/ Continue reading

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An entrepreneur’s views on Kenya’s business prospects

http://www.ntv.co.ke As business continues to pick up after the conclusion of the March 4th polls, businessmen are optimistic of the prospects, and this spel… Continue reading

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