Expat Money News

Latest 10 news items tagged Money

14 Sep at 6 PM 2018

PremierFX bankruptcy scandal spreads to Mallorca

In a follow-up from recent news reports on millions being lost by expat investors in Portugal when a forex trading firm collapsed, details are now coming in about a similar scale of losses by expats living in Mallorca. The sudden, suspicious collapse of PremierFX Ltd’s three offices in London, Portugal and Palma resulted in Britain’s Financial Conduct Authority’s forcing of the company into administration, leaving hundreds of expats unable to access their funds and completely in the dark as to what happens next. The sudden...
12 Sep at 6 PM 2018

Massive Chinese building spree in Phnom Penh worries expat community

Chinese money is changing Cambodia’s capital Phnom Penh beyond recognition. The city of Phnom Penh, formerly famous for its French colonial villas as well as its New Khmer Architecture modernist structures, is now becoming unrecognisable due to massive investment by Chinese developers. Over 200 investors arrived along with Chinese President Xi Jinping in October 2016, with the subject under discussion the Chinese Belt and Road Initiative. As a result, billions of dollars were committed for the construction of towering high rise...
7 Sep at 6 PM 2018

Expats in Prague may get relief from rowdy pub noise

Prague’s favourite party district now has an official noise meter. Prague’s Old Town Number 1 district is renowned for its pubs, bars, restaurants and nightclubs and music venues, and is said to be on a par with New Orleans’ Bourbon Street and Dublin’s Grafton Street for its riotous late-night crowds and loud music. Residents in the area have long been complaining almost daily about the district’s effects on their health due to lack of sleep, but a new addition to the area could possibly offer some relief from the raucous...
6 Sep at 6 PM 2018

Adjusting to life as a newly arrived expat

The demands of expatriation can often result in physical and emotional health problems, with well-being put on the bank burner in the pursuit of money and success. Many would-be expats don’t realise that what’s good for the bank balance can be bad for overall health due to the stress of adapting to a new environment and lifestyle whilst taking on the demands of a new job. The last thing on most new arrivals’ minds is a healthy lifestyle, but not taking care of all your physical and emotional needs can make adjustment to your new...
3 Sep at 6 PM 2018

Inexperienced expats warned about borrowing to fund cryptocurrency purchase

Expats based in the UAE are warned to beware of borrowing to fund cryptocurrency investments. One French expatriate based in the UAE and working as a cabin crew member with a major airline has lost almost all of the money he borrowed to invest in cryptocurrencies. Early last autumn, the French cabin crew member made several small investments in cryptocurrencies and came out of it very well due to the boom in the unconventional currency. Three months later, as the boom continued, he decided to get a loan and invest again. Having found...
3 Sep at 6 PM 2018

Malaga restaurateurs caught by expat offering fake TripAdvisor reviews

A British expat-owned firm based in Malaga has been caught selling fake TripAdvisor reviews to Spanish hotels, restaurants and other expat and tourism-based companies. In a bid to boost their ratings on TripAdvisor and other global tourism websites, businesses in Malaga have been lured into paying €400 for dozens of fake five-star reviews. An investigation by Andalusia-based English language newspaper The Olive Press has revealed the fraudulent operation promised ‘genuine reviews tailored to your specific business’, with one...
30 Aug at 6 PM 2018

Nanjing expat charity raises cash for childrens heart surgeries

The expat-run Hopeful Hearts charity’s Nanjing base is just one of the three under the same name, with the others in Guangzhou and Chengdu. Founded in 2003, the non-profit came into existence when two expat women found a desperately ill Chinese boy who’d been abandoned by his parents lying at the base of a large tree. Sadly, despite being rescued and taken to the nearest hospital for treatment, the baby was diagnosed with a congenital heart defect and subsequently died. Since then , the charity has raised money to help sick...
30 Aug at 6 PM 2018

Brits in Spain lose millions to yet another financial fraudster

In spite of endless warnings about financial fraudsters preying on expats, another Ponzi scheme has now been uncovered. Victims of the latest financial fraud in the popular Spanish resort of Marbella have claimed losses of up to six million in sterling due to a Ponzi scheme being run by a Welsh investment advisor. Rhys Williams lived the high life in the resort, persuading his victims to invest eye-watering amounts in a Dubai printing and paper recycling firm as well as in Dubai trading platforms. The fraudster guaranteed returns of...
29 Aug at 6 PM 2018

Reactions to Kuwait ban on expats over 60 years old

Kuwait’s decision to suspend work and residency permits for expatriates over 60 years of age is drawing heavy criticism from economists as well as expats. Kuwaiti economics experts are warning the ban will cause problems in the private sector as employers will lose highly experienced expat professionals who cannot be replaced by young Kuwaitis. In addition, the decision violates the regulations of a free economy, and long-stay expats who’ve built their lives in the emirate and have no wish to either stop working of leave are...
23 Aug at 6 PM 2018

Dubai debt laws leave elderly British expat in limbo

A homeless, debt-ridden British expat in Dubai is trapped in an impossible situation due to the emirate’s illogical laws. Hardly a month goes by without yet another instance in which Dubai’s inflexible laws have trapped yet another British expat and resulted in imprisonment and deportation, but the latest story defies Western concepts of common sense more than most. Given that the plight of the expat involved was caused by his own lack of ability to cope with his own expectations of Dubai, the situation he’s now in gives him no...