Expat Australia News

Latest 10 news items tagged Australia

19 Sep at 6 PM 2014

Survey reveals most investors have problems with financial jargon

According to the UK government’s Money Advice Service, most investors and pension savers have difficulties understanding financial jargon. Almost 90 per cent of those surveyed admitted they didn’t read the small print before signing up to investments or funds. Worse still, the majority had no understanding of the acronyms used by financial advisors when selling an investment. Over the years, failure to grasp the real meaning of simple financial terminology has had devastating effects on many investors’ life savings, with...
15 Sep at 6 PM 2014

Scots expats missing out on momentous independence vote

Scots living or working overseas can only watch from the sidelines as the crucial independence referendum threatens to change their home country for ever. Hundreds of thousands of expat Scots are forbidden from making their feelings known about potentially their home country's most momentous decision in several centuries. According to many, watching and holding strong views but unable to make them heard is agony. Confusion, frustration and even homesickness predominate in Scots living in England, Europe or even farther afield, all...
12 Sep at 6 PM 2014

Is private health insurance really necessary in Thailand

Most expats arriving in Thailand have been used to paying for private heathcare in their home countries, but is the expense of an international healthcare plan really necessary in Thailand? Due to its recent Westernisation, low cost of living and great weather, Thailand is an ever-popular destination for expats from Australia, the UK and the USA. As a result, heathcare, access to Western foodstuffs, Western-style restaurants and the latest in consumer comforts are easily accessed. Along with massive shopping malls and Thailand’s...
10 Sep at 6 PM 2014

Sky News to launch replacement for ABC international satellite TV channel

Following the bad news of the Australia Broadcasting Corporation’s upcoming shutdown, the good news is that Sky TV is to launch its own Australian Channel to fill at least part of the gap caused by the departure of the popular ABC channel. Devastated fans of ABC’s satellite TV offerings can now take comfort in the fact that Sky News is taking over the slot, although its initial PR suggests that coverage may be somewhat restricted. News, sports, business and politics are to be its main focus, all locally produced and aimed at...
9 Sep at 6 PM 2014

Expat investors lose 50 million in Isle of Man Louis Group crash

The liquidators of a sector of the Isle of Man-based Louis Group have revealed that millions of pounds sterling are missing from the accounts of the disgraced financial firm. In yet another disastrous indication that the casino culture is alive and well in expat financial jurisdictions, the collapse of the company has resulted in losses to investors of at least £60 million. Just £10 million is left to be shared amongst the 700 people duped, many of whom are UK expats. Most investors put in between 10 and 30 thousand pounds...
9 Sep at 6 PM 2014

Saudization programme crackdown closes thousands of firms

The tightening of Saudi Arabian employment laws has forced the closure of 200,000 private companies in the Kingdom over the past year. Recently-released official figures from the Saudi Labour Ministry have confirmed that the controversial ‘nitiqat’ laws aimed at replacing expat workers with local staff have decimates smaller, private firms unable to comply with the regulations. The laws apply to residency and work visas, and involve quotas for the number of Saudis employed. According to the ministry, another 40,000 private...
8 Sep at 6 PM 2014

Expats in Spain looking to face LMIM and Axiom crooks in court

Expat victims of two massive investment scams, LMIM and Axiom, are targeting the product providers and salesmen whose greed has resulted in the loss of millions-worth of retirement savings. Rogue FAs operating in Spain as well as the product providers themselves are to be named and shamed in court actions. Groups representing the victims of both Ponzi schemes are requesting that the estimated thousands of other victims join in the fight for justice. The LM Investor Victim Centre (LMIVC) has representatives in Spain already working...
8 Sep at 6 PM 2014

Expat students rejecting Saudi private unis for studying abroad

Saudi Arabia’s private universities are failing to attract expat student, most of whom are choosing to gain their degrees in overseas centres of excellence. According to local academics, only 30 per cent of expat students are taking degree courses at the Kingdom’s private universities. The majority are returning to their home countries to study, with high tuition fees given as the main reason. Saudi’s private universities are a convenient alternative for expat students who cannot be admitted to government universities....
5 Sep at 6 PM 2014

Expat and UK resident investors slate life companies over LMIM losses

As lawyers in the UK and Australia prepare court cases on behalf of victims of the largest financial scandal to hit Australia in decades, many are accusing life companies of a lack of due diligence. The failure of LMIM and its Managed Performance Fund (MPF) has devastated savers and investors in expat locations such as Hong Kong, the UAE, Thailand and the rest of Southeast Asia as well as many in the UK, Europe and Australia. Total losses are running at around AU$369 million, and investors have been warned to expect no more than five...
3 Sep at 6 PM 2014

Special Fraud Squad targets failed Axiom legal financing fund chief executive

The news that the CEO of the failed Axiom litigation fund is finally being investigated by the UK’s Special Fraud Squad may come as encouraging to victims, many of whom are also caught up in the LMIM Ponzi scheme. Nowadays, awareness of the risks of investing with rogue salesmen is at its highest level ever in the worldwide expat community, along with the inescapable fact that home country regulators and enforcers rarely, if ever ,do anything to help defrauded expat investors. Axiom’s suspension in 2012 took with it £120 million...