Panama Papers: Sifting through the coverage across the world

              With over 2.6 TB of data leaked, newsrooms across the country picked up what is being seen as the biggest-ever data leak in history, 1500 times the size of WikiLeaks. Here are just some of the headlines from across the globe.. We take a look at some of the top headlines of ewspapers across the globe, and their coverage of the #PanamaPapers leaks.

How the US became one of the world’s biggest tax havens

In her piece for the Wonkblog section of The Washington Post, Ana Swanson argues that much of the global offshore industry is not really offshore. A 2012 study, quoted in the report, states that the US had the laxest regulations for setting up a shell company anywhere in the world outside of Kenya.

Part of the reason that the US looks so attractive as a tax and secrecy haven is that the country has not signed on to new global disclosure standards that are forcing anonymous companies to reveal their real owners around the world. Compared with other developed countries, and even traditional offshore destinations such as Switzerland and the British Virgin Islands, the US now appears to be among the most lenient and secure destinations for the fortunes of the global rich.

 

Revealed: the tycoons and world leaders who built secret UK property empires

The Guardian – one of the news organisations that along with The Indian Express investigated the Panama Papers, reported how billions of pounds of offshore cash flooded the British property market. From the president of the United Arab Emirates to Pakistan Prime Minister Nawaz Sharif’s family to Former HSBC boss Michael Geoghegan – the Guardian investigation maps out how world leaders invested in prime Britain property.

World leaders, business people and celebrities are among those whose anonymous ownership of London property has been exposed by the massive leak of the Panama law firm’s data on offshore companies.

WATCH: What Do The Panama Papers Reveal

About the Panama Papers

The newsroom of German daily Süddeutsche Zeitung was where it all began. In a piece explaining how the Panama Papers leak came about, Süddeutsche writes about an anonymous source who contacted one of their journalists offering to share over 2.6 TB of data.

Over a year ago, an anonymous source contacted the Süddeutsche Zeitung (SZ) and submitted encrypted internal documents from Mossack Fonseca, a Panamanian law firm that sells anonymous offshore companies around the world. These shell companies enable their owners to cover up their business dealings, no matter how shady.

Fund run by David Cameron’s father avoided paying tax in Britain

According to The Guardian, the Panama Papers reveal the details of how Ian Cameron sheltered Blairmore’s profits with a series of expensive and complicated arrangements.

Blairmore is shown to have been controlled using an obscure financial instrument known as bearer shares. These do not carry the name of the owner. They are similar to banknotes in that they simply belong to the person holding the certificate in their hand, The Guardian reported.

Panama Papers: Why No Big Splash or Times Participation?

In her column for The New York Times, Margaret Sullivan, the Times’s public editor, writes about why the Times did not have the story prominently displayed on its website and of how the publication missed being part of the consortium of journalists who exposed the Panama Papers.

Because The Times was not a part of the global consortium and was not aware that the story was coming, it needed some time to get its own story going. “We didn’t know these documents were out there and being worked on,” Sullivan quotes Matt Purdy, a deputy executive editor, as saying.

 

‘Panama Papers’ reveal Sharif family’s ‘offshore holdings’

After The Indian Express first broke the Nawaz Sharif offshore holdings story, based on data leaked from MF, Pakistan’s leading daily Dawn threaded cautiously carrying a front page anchor on its prime minister’s family.

According to documents available on the ICIJ website, the PM’s children Mariam, Hasan and Hussain “were owners or had the right to authorise transactions for several companies”. Mariam is described as “the owner of British Virgin Islands-based firms Nielsen Enterprises Limited and Nescoll Limited, incorporated in 1994 and 1993”.

Comments

  • Related News
  • America diary: Foreigners hotels.

    Narendra Modi will be staying at the iconic Waldorf Astoria hotel during his visit to New York. Waldorf Astoria in New York.While Narendra Modi will stay at the Waldorf Astoria hotel during his visit to New York, t...

    World 2015-09-24 03:32:11

    Tracking PM Modi in America: Two stars already in US Pope Francis and Xi Jinping.

    The Pope’s US tour began on Tuesday as he arrived in Washington DC. On Thursday, he will be in New York to attend the UN Sustainable Development Summit. Michelle and Barack Obama greet Pope Francis on his arr...

    World 2015-09-24 03:25:15

    Pope Francis urges US action on climate change.

    Crimes of sexual abuse should not be repeated, says Pope Francis. Pope Francis give the thumbs-up from the popemobile during a parade around the Ellipse near the White House in Washington, Wednesday. (Source: AP)Pl...

    World 2015-09-24 00:30:07

    Any act that amounts to undermining Nepals sovereignty is not acceptable: Prachanda.

    Two Senior Communist leaders from Nepal — one a former orime minister, and another one aspiring for the top post — on Tuesday said the promulgation of the new Constitution in Nepal was a “mat...

    World 2015-09-23 01:05:18

    Migrants In Berlin: Uphill task for Germany as tide rises.

    Germany- the world’s fourth largest nation by GDP or national income needs more migrants - some hundred thousands annually considering that it has an aging population. A queue of asylum-seekers in Moabit dis...

    World 2015-09-22 02:23:53

    Conflict watch: From Syria to Afghanistan, all you need to know about the week that was.

    The Turkish government continued to grapple with Kurdish militants who killed two police officers in a car bomb attack in the country’s southeast last Sunday.AFGHANISTAN: Taliban insurgents raided a jail in e...

    World 2015-09-21 00:12:16

    Turbulent Turkey.

    Kurdish nationalism, Islamic State and conflicts in Syria and Iraq — look who’s caught in the middle. Turkish soldiers stand guard as Syrians wait behind a border fence near the Turkish town of Suruc o...

    World 2015-09-21 00:03:02

    Migrants surge into Western Europe through Austria.

    Austrian police reported 6,700 new arrivals from Hungary since midnight. Europe migrant crisis: Migrants queue up for buses after they arrived at the border between Austria and Hungary near Heiligenkreuz, about 1...

    World 2015-09-19 15:30:32

    Constitution promulgation: Indian foreign secretary meets senior leaders in Nepal.

    Barely 48 hours before the scheduled delivery of the Constitution, follows what appears like Nepal’s cold-shouldering India’s suggestion to put off voting and adoption of the Constitution in hurry.India...

    World 2015-09-19 02:13:23

    Netherlands: Dutch police evacuate Paris-bound train, arrest man.

    The incident comes less than a month after passengers subdued a gunman on board a Thalys train in northern France as it was traveling from Amsterdam to Paris, also on a Friday. A anti-terrorist unit of the Dutch p...

    World 2015-09-18 17:04:31

    Taliban attack on Pakistan Air Force base kills 20; 16 die in mosque.

    The attack triggered an hours-long firefight at the base and the Pakistani forces said they killed 13 of the attackers, though it was unclear how many were involved in the assault. A volunteer and security persona...

    World 2015-09-18 13:00:59

    Vietnam accuses Thailand of attacking fishing boats.

    The Thanh Nien newspaper quoted Foreign Ministry spokesman Le Hai Binh as saying several boats were fishing illegally in Thai waters when the Thai vessel used weapons to chase them away. Fishing disputes are commo...

    World 2015-09-18 09:24:11

    Mums the Word: How Nancy Frates raised millions with one bucket.

    How Nancy Frates mobilised millions with one ice bucket challenge. It’s been four years since her son Pete was diagnosed with ALS, and Frates and her family kickstarted the Ice Bucket Challenge.“ITR...

    World 2015-09-18 00:03:02

    Military in Burkina Faso confirms coup, dissolves government.

    In the announcement aired on Thursday on national television and radio, the statement said that the transitional government had been dissolved. Burkina Faso was due to hold elections on October 11 that many hoped ...

    World 2015-09-17 14:34:13

    Nepal assembly clears Constitution, promulgation set for Sunday.

    The Communist Party of Nepal-Maoists, a splinter group of the main opposition Maoist Party, has given bandh call on September 20, the day scheduled for promulgation. The charter was passed by a 507-25 vote in the ...

    World 2015-09-17 04:03:37

    Australian fighter jets make first air strike against Islamic State in Syria.

    The United States, Canada, Turkey and Gulf states have already been involved in strikes on IS militants in Syria. The United States, Canada, Turkey and Gulf states have already been involved in strikes on IS milit...

    World 2015-09-16 08:55:59

    15 killed in Utah flash floods.

    Twelve of the victims were from two families who were in two vehicles caught off guard Monday afternoon by ragingwaters in the small town of Hildale. Russ Cook and his family stands next to severely damage vehicle...

    World 2015-09-16 08:47:45

    Displaced Syrians remain on Turkish border despite truce: MSF.

    Tens of thousands of Syrians fled the northern city of Aleppo and surrounding areas in early February as Syrian forces backed by Russian air strikes pressed an offensive there against rebels. .

    Tens of thousand...

    World 2016-03-04 22:26:00

    Turkey: 2 women hurl hand grenade, fire at police.

    The state-run Anadolu Agency said the two attackers escaped the scene in a vehicle and were hiding inside a building some distance from the police station. .

    Two female attackers on Thursday opened fire and hur...

    World 2016-03-03 17:05:29

    Donald Trump, Hillary Clinton rack up Super Tuesday wins; Ted Cruz keeps foothold.

    Both Clinton and Trump were denied a clean sweep which many poll pundits had predicted. . Super Tuesday: Both Clinton and Trump were denied a clean sweep which many poll pundits had predicted. (Source: AP)

    Repu...

    World 2016-03-02 17:50:31