There is brutal competition to guard the fortunes of the planet’s millionaires. The same guy as always is winning: Switzerland

The ultra-rich around the world move their millions of dollars in search of the place safer for your fortunes. In recent years, countries in the Middle East and Southeast Asia they have stepped on the accelerator as a destination for the greatest fortunes in the world. However, amid the latest geopolitical tensions, a report from the consulting firm Boston Consulting Group reveals a disturbing fact: Asian millionaires are turning their gaze to the old and reliable Switzerland to protect your wealth. According what was published for him Financial Timesmany Asian millionaires are diversifying the refuge for their assets and, instead of keeping them in their place of residence in Hong Kong, Dubai and Singapore, they prefer to deposit part of their fortune in Swiss banks. Switzerland remains the world’s safe deposit box. According to the report Global Wealth Report 2025 Prepared by Boston Consulting Group, Switzerland managed $2.74 trillion in assets in 2024, which maintains it as the main offshore wealth center in the world. Very close to Switzerland’s management figures are important economic enclaves in Asia such as Hong Kong (which managed 2.65 trillion dollars) and Singapore (with 1.92 trillion dollars in the same year). The study estimates that, by 2029, these three destinations will concentrate almost two thirds of the new cross-border wealth. Boom of the rich in Asia. The study recognizes the enormous growth of Asian and Middle Eastern wealth centers, which have recorded a growth 50% since 2014. However, many of these funds end up in Switzerland, registering a increase in wealth cross-border savings held in the coffers of Swiss banks of 8.7% in 2024, up from 6.3% annually recorded in 2023. That is, although Asia has become a fertile ground for generating wealth, millionaires continue to see Switzerland as a safer place to store it. Geopolitical concerns. One of the main reasons for this behavior of the great fortunes settled in Asia are the political and geopolitical decisions that increase economic uncertainty. An example cited in the report points out that events such as the implementation of the national security law in Hong Kong in 2019 or the Russian invasion of Ukraine in 2022, raised questions about the security of assets in Asia. “Private banking focuses on diversifying geopolitical risk: clients are always looking for safe havens,” declared to Financial Times Giorgio Pradelli, CEO of the Swiss private bank EFG. “Clients increasingly began to feel that, geopolitically, the situation was less predictable and therefore it was important to have assets in different jurisdictions,” says Christian Cappelli, head of Julius Baer’s Asia office in Zurich. Financial Times. That is, they were betting on sending part of their fortune to Switzerland to protect themselves against economic blockades, political changes or war conflicts. London is no longer a refuge. On the other hand, the tax changes that the United Kingdom has implemented have caused London to lose much of your interest for millionaires Asians, putting Zurich back on the map. According to Christian Frie, head of the Asia-Pacific business in Switzerland for LGT Private Banking, the majority of Asian clients managed by his banking entity allocate between 10% and 15% of their assets outside their countries, mainly to Switzerlandaccording to the report The Global Entrepreneurial Wealth Report 2025 prepared by UBS. In Xataka | The rich neighborhoods of Madrid and Barcelona have changed their accent: millionaires from the US and Mexico invest their fortunes in Spain Image | Pexels (Peter Steiner), Unsplash (Chi Lok TSANG)

Asia’s generation is challenging his old guard

The world is pending Nepal. And it is logical. In just a few days the young democratic federal republic (proclaimed in 2008 after A long monarchy) has seen how the government gave A 180 degree turn In your social networks policy, resigned its powerful prime minister and (most importantly) the nation shook with a wave of street protests That has left dozens of dead and at least a thousand injured. There may be discrepancies about drifting who has taken the revolt, but not on its engine: a ‘gene z’ that Ask for changes. And Nepal is not the only country in which it does. The ‘D’ day of Nepal. It is not easy to identify the ‘D’ day of revolts like the one that lives Nepal. If you had to look for one, the turning point is probably the September 4when the Government of Sharma Oli ordered the blockade of 26 social networksincluding Facebook, YouTube, Instagram, WhatsApp or X. The Executive justified it as a matter of national sovereignty, but critics soon interpreted it as a cut of freedoms and the population (especially the youngest) as the loss of one of its main windows to the world. The discomfort resulted in protests Earlier this week in the capital, Katmandú, a mobilization that in principle should be peaceful but ended up the worst possible ways, with disturbances that arrived at Parliament and those who responded with a forcefulness with a forcefulness More than questionable. So much, in fact, that Human Rights Watch (HRW) has already asked to investigate. What was the result? Shots Victims. Fires that have affected Parliament and other government buildings. And an escalation in the protests that has spread beyond Katmandú. Little served the Resignation waterfall of ministers that followed the police repression or that the government turned back in your social media policy. He didn’t even matter The resignation of Sharma Oli, who had been holding the position of Prime Minister alternately since 2015. The protests climbed, clearly claiming A political changeand leaving a tragic balance. On Wednesday the local newspaper ‘The Kathmandu Post’ He spokeciting the Ministry of Health, of at least 30 dead and more than a thousand injured. Of ‘Nepo Kids’, networks … and much more. Choking what happened in Nepal only to WhatsApp or Instagram block would be a mistake. Or at least excessive simplification. Before the government’s decision, in the country he had been warming up for a long time the Nepo Kids (A sum of “nepotism” and “child”, in English), word that identifies the children of politicians and the Nepali bourgeoisie that shows its high standard of living precisely in networks. Actually that discomfort is another symptom of the real problem that has resulted in the wave of protests: the anger of a country in which 20.3% of the population Live below the poverty threshold and thousands of young people are forced to emigrate. Some extra data. To understand the reality of the country, it is good to handle certain keys. The NGO aid in action ensures that (at least in 2019) every day 1,600 Nepali They are forced to make their bags to look for life in countries like China or India, which explains the brutal dependence that the nation has of remittances. That data (and others, such as the poverty rate we quoted before) adds to the problem of nepotism and corruption denounced these days in the streets. In the ranking of “Perception of corruption” Prepared by Transparency International the Asian nation occupies the 107th of a total of 180 nations. Eight out of ten people (84%) in fact consider it a “big problem.” The ‘gen z’, in the focus. Nepal’s protests do not stand out only for their impact and consequences. They also do it for something that they coincide The majority of Analysts: Its epicenter is a very concrete population sector, the Z generation, the cohort born between the late 90s and the early 2010s. They are the ones who suffer unemployment in a special way, in which the discontent has been dug for the ostentation of the ‘neo kids’ or the blockade of the networks and those who (in view of what happened in Kathmandu) institutions. Hence They claim changes In the country. “Known as the ‘manifestations of generation Z’, Nepal’s youth mobilizations show the growing political influence of a digitally active generation that seeks to forge the future of the country,” Reflect An analysis published by the Asia Pacific Foundation of Canada Foundation. “The protests reflect the deep frustration for the precarious economic perspectives, inequality and corruption. They highlight the discontent of one of the world’s youngest nations in the face of the shortage of opportunities.” @cnn Protests in Nepal’s Capital Kathmandu Were Initially Triggered by A Ban on Social Media, But Quickly Expanded To Include Issues of Wider Corruption, Lack of Economic Opportunities and Police Violence Against Demonstraors. CNN’s Kristie lu Stout Breaks Down the So-Called “Gen Z” Protests that has seen Young People Criticize “Nepo Babies,” Or entitled Children of Government Officials. #CNN #News #Nepal #Protests ♬ Original Sound – CNN Why is it important? First, because it helps us better understand what happens in Nepal. Second because it connects with a broader trend that can be traced in other parts of Asia, such as Point out in Bloomberg The columnist Karishma Vaswani. In An article entitled “The protesters of generation Z challenge the old Asian guard”, the analyst relates what happened in Nepal with other similar (and recent) revolts in Indonesia, Sri Lanza and Bangladesh. All apparently with a common denominator: the role of the youngest population. “Asian youth is furious. Protests show a generation that is not willing to accept inequality and injustice as a destination.” Beyond Nepal. Vaswani refers to three episodes that have shaken Asian politics. The most recent leaves it Indonesia, where The decision of the House of Representatives to improve wages (and Prebendas) of its legislators unleashed a wave of protests that resulted in dead and … Read more

The old business software guard

Oracle has shown that the true business of business AI is not only in creating the most advanced models, but also in sell the critical infrastructure that companies already consolidated need To implement them, shooting their pending contracts and their bag value. Why is it important. Oracle’s strategy reflects that traditional technological giants are not being revolutionary with AI, but they are using it to reinforce their market dominance. Its key advantage is not pure innovation, but the confidence, data and commercial relations built for decades with the largest companies in the world. What has happened. Oracle has reported income of 14,930 million dollars in the first quarter of its fiscal year, 12% more year -on -year. However, the most important metric were its remaining performance obligations (RPO) – futures already hired – that fired 359% to 455,000 million dollars. As a consequence, His actions rose more than 25% In operations after closing. In detail. The growth of the company is not based on creating its own models of generative, but on selling the “peaks and blades” for this revolution: Oracle Cloud Infrastructure (OCI): Competes directly with AWS and Azure to house models of the partners such as Openai and Google. Vector databases: Offers optimized databases to Embeddings vector, an essential component for AI applications such as semantic search and RAG. Integration of AI: Embeds AI functions in their existing business products such as Netsuite and Fusion. And sells updates to an already captive customer base. Yes, but. Oracle is not alone. This is a pattern that is repeated among business software giants. SAP He is doing the same with his Rise and Sap AI platform. IBM Take advantage Watsonx and Red Hat Openshift Ai for business environments. Salesforce integrates its Einstein GPT in all your CRM suite. The context. For years, many venture capital analysts and funds have considered companies such as “Living Dead” Oracle, still powerful but destined to be replaced by more agile startups. The AI ​​boom has invested this narrative. It turns out that having decades of business data, compliance with safety regulations and the confidence of technology directors is more valuable to display critical infrastructure of AI than having the most novel model of the moment. Outstanding image | Oracle In Xataka | Microsoft has just made the greatest investment in its history. And not in Openai, but in an unknown Dutch company

The Civil Guard disarticulates a money laundering that moved three million euros per week in cryptocurrencies

The Civil Guard has dismantled a criminal organization dedicated to whitening capitals through cryptocurrencies. As reported by the agency, 23 people have been arrested in the operation and more than 30 million euros have been intervened, mostly in cryptoactives. Ifade-Yuzuk. That is the denomination that this operation has received whose beginnings date back to 2023, when the investigation began thanks to the “identification of suspicious actions within the framework of the Civil Guard prevention work” in certain Spanish airports. The criminal organization was “perfectly structured and hierarchized” and composed of at least 52 members. What did they do? As explained by the Civil Guard in A statementthe organization was dedicated to money laundering using crypts as a vehicle. The group “bought” the cash obtained illegally and compensated by cryptocurrency transactions, charging a commission between two and three percent. Subsequently, that cash was “sold” and compensated in cryptocurrencies paying similar commissions. “In this way, the organization managed to maintain stable balance in the wallets used, guaranteeing a cadence between four and six weekly operations, with a flow of three million euros a week,” says the Civil Guard. Operation Ifade-Yuzuk | Image: Civil Guard The money trail. The cash came from the sale of goods introduced in Spain opaquely for the tax authorities, such as falsifications. These products ended in Badalona (Barcelona) or Manises (Valencia) establishments, although the majority of premises involved were in a Madrid town. The money was extracted from Spain through commercial flights, clandestinely or through statements of means of payment. The main destination was Cyprus, although later criminals began using road transport to sell illicit money both in Spain and in France and Portugal. As the Civil Guard details, “cash deliveries have been detected in different Spanish provinces (Madrid, Barcelona, ​​Malaga, Castellón, Valencia and Alicante), Cyprus, France and Portugal.” Operation Ifade-Yuzuk | Image: Civil Guard An operation of several countries. Operation IFADE-YUZUK has had two phases. One in the Ortrew of 2024, dedicated to the disarticulation of the organization in Spain, Cyprus and France; and another in November focused on its customers. The coordination of the judicial and fiscal authorities of Spain, Chipre and Germany, as well as the Europol and Eurojust, has been required. It has also cooperated with T3 TCE (initiative of Tron, Tether and TRM Labs companies), thanks to which the preventive blockade of more than 26.4 million USDT “has been achieved; and with Binance, which has blocked “29 accounts with balances worth approximately $ 152,000.” Operation Ifade-Yuzuk | Image: Civil Guard The result. All this operation has been paid with 90 records in homes and social venues, of which 77 have been in Spain. 23 arrests have also been carried out, 20 of which have been in national territory. Finally, it should be noted that numerous computer devices, 36 vehicles, 8.2 million euros effective, 27 million euros in cryptocurrencies, real estate and more than two million in bank accounts have been intervened. Images | Civil Guard In Xataka | Amazon has been fighting a lost battle against falsifications for years (and he doesn’t know what else to do)

The Coast Guard and the governor of Florida now officially use the Gulf of America

The United States Coast Guard and the Republican governor of Florida, Ron DeSantisresponded immediately to the president’s executive orders donald trump to deploy assets on maritime borders and use the name “Gulf of America” to refer to the Gulf of Mexico. A press release from the federal maritime agency referred to the Gulf of America when referring to “the maritime border between Texas and Mexico in the Gulf of America.” The Coast Guard is subordinate to the Department of Homeland Security (DHS) and patrols the Gulf in coordination with the National Oceanic and Atmospheric Administration (NOAA). Their website still uses the name Gulf of Mexico, but The name change is already being used in its official communications. Ron DeSantis also accepted the name change of the Gulf of Mexico Florida Governor Ron DeSantis also quickly endorsed Trump’s executive order changing the name of the Gulf of Mexico. In an order that issued about this week’s winter storm, DeSantis referred to an “area of ​​low pressure moving across the Gulf of America.” But changing the name of a body of water that is an integral part of Florida it might not be so simple. A computer search of Florida laws shows that at least 55 statutes include references to the Gulf of Mexicowhile local government ordinances are also linked to the traditional name. And some of these ordinances are fundamental, since delimit the territory of a countyFor example, as with legal descriptions of gulf front county boundaries from Escambia to Collier, which include references to the Gulf of Mexico, according to CBSNews. Florida lawmakers and DeSantis might have a way to update state laws to change references from the Gulf of Mexico to the Gulf of America. The Legislature regularly passes what are known as “revision bills” that do things like change language in laws. Revision bills generally pass easily without controversy. But Trump’s executive order on the Gulf of America has attracted attention throughout Florida and other parts of the country. President Trump’s executive order instructs the secretary of the Department of the Interior to update federal records and maps to reflect the name change. Keep reading:· Donald Trump promises to recover the Panama Canal and rename the Gulf of Mexico· Who owns the Gulf of Mexico and can Trump really rename it as he proposes?· Sheinbaum responds to Trump and proposes calling the US “Mexican America.”

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