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24 Oct 2015 01:59

not to be named.China P&I Club is not a member of the Group of International P&I Clubs, an association of customer-owned ship insurers which cover 95 percent of the world's tankers against pollution and personal injury claims. The Chinese insurer has applied to join the club and could be taking the action on Iranian coverage to ensure it becomes a member, industry sources said.The Japan P&I club, the only Asian-based member of the Group of International P&I Clubs, said last month it would only be able to provide a fraction of cover for tankers operating in Iran."It's now non-life (insurers) and shippers who can tell us how many cargoes we will be able to ship from Iran," said a manager from a Japanese firm that buys Iranian crude, adding that importing cargoes without insurance was unthinkable. (Reuters)KUALA LUMPUR: IOI Properties Group Bhd soared by a fifth in its first day of trade, an auspicious start to a potential record year for Malaysian listings as the market regains its mojo after being hit by

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the companies moved, company filings, records at the UK companies register and other company statements show. For the six previously US-incorporated companies which shifted to Britain, 80 percent of directors continued to reside in the United States after the move.Accounts for the companies also show little benefit to the UK exchequer from the corporate relocations.Aon and Liberty Global ? the only two companies which published figures for group UK tax payments ? reported UK corporation tax credits for 2013. Ensco had a UK tax charge of $200,000 last year. That included tax on profits from its UK operating subsidiaries which have revenues of around $300 million a year.Delphi Automotive’s most senior UK corporate entity is a partnership, which does not have to pay tax. The company declined to say if other British units paid any corporation tax but said in its annual report that it had UK tax assets which could be used to offset future taxable profits.CNH does not publish UK tax payments. Its main UK operating

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since the 9/11 attacks in 2001.Karzai is keen to secure a legacy as a strong leader before he steps down next year, and his stance on the BSA matches his incendiary accusation that the NATO war effort has caused "a lot of suffering" without delivering any gains."The president is trying to show he's tough, he's not a puppet, he's not giving in easily and he's there for his people," Waheed Wafa, the director of Afghanistan Center at Kabul University, told AFP."Criticising the West has become a habit of the president's. Maybe it is because it is his last days in office," Wafa said, adding the BSA deal could still be signed after tortuous last-minute negotiations.After Karzai's latest comments, Washington said it remained committed to talks and urged Kabul to stay focused on concluding the deal."We've made progress, but these kind of negotiations are complex with any country," deputy State Department spokeswoman Marie Harf said."We always expected there would be sticking points and bumps in the road... We need to

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