FED'S BARKIN: PACE AND UNCERTAINTY OF CHANGES AROUND AI HAVE MADE A LOT OF FED OFFICIALS 'UNEASY'

Hong Kong is preparing a major tax regime overhaul that would exempt private equity—and potentially hedge fund—managers from tax on carried interest and performance fees at both corporate and individual levels, according to a March 2 proposal to the Legislative Council. The proposed changes would expand on earlier reforms, including 2021 carried-interest exemptions, and could also extend benefits to hedge funds depending on structuring. The government plans to introduce the bill in the first half of the year, with possible retroactive application to 2025. Additional proposed enhancements include expanding qualifying investments to cover funds-of-one, pensions, endowments, digital assets, carbon credits, precious metals, and commodities, as well as tax breaks for family offices, private credit funds, and corporate treasury operations.

YEMEN'S HOUTHIS SAY CERTAIN CONDITIONS INCLUDE NEW ALLIANCES JOIN U.S., ISRAEL AGAINST IRAN AND USE OF RED SEA FOR U.S., ISRAEL ATTACKS ON IRAN