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Updated: Thu Mar. 01 2012 15:10:24

The Canadian Press

OTTAWA The federal government isn't doing enough to catch tax cheats who stash money in overseas havens, says a Liberal senator.

Percy Downe said the government has the names of more than 100 people who hold million of dollars in Liechtenstein bank accounts, but hasn't cracked down.

However, Nancy Bishay, a spokeswoman for Revenue Minister Gail Shea, said the government has been diligent in chasing tax dodgers.

The Liberal senator from Prince Edward Island said the Canada Revenue Agency managed to recoup only $6 million in taxes and interest from these people last year.

But Bishay says the agency has gone far beyond that in pursuit of cheats.

"Over the last two years, through audits of Canadian taxpayers involved in aggressive international transactions, the CRA has made great strides," she wrote in an email.

"As an example, in 2009-10 alone, we identified over $1 billion in additional taxes. Compare that to 2005-06 under the Liberals where $174 million was identified."

In his news release, Downe said the government seems to be bending the rules to let some tax evaders off the hook.

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Overseas tax cheats getting off easy, says senator

OTTAWA - A Liberal senator says the federal government isn't doing enough to catch tax cheats who stash money in overseas havens.

Percy Downe says the government has the names of more than 100 people who hold million of dollars in Liechtenstein bank accounts, but hasn't cracked down.

The Prince Edward Island Liberal senator says the Canada Revenue Agency managed to recoup only $6 million in taxes and interest from these people last year.

In a release, Downe says the government seems to be bending the rules to let some of them off the hook.

He says another 1,700 Canadians are known to have accounts in just a single Swiss bank.

Downe adds that at a time when the government is scrambling to deal with the deficit, there's no excuse for letting tax cheats off easy.

"Not one penny has been assessed in fines," he said of the Liechtenstein cases.

"That is because not one charge has been laid. In the four years since this information has come to light, not one of these Canadians who have hidden their money abroad to avoid paying taxes in Canada have stood before a judge, in Canada or overseas."

Downe, a former chief of staff to Jean Chretien who was named to the Senate by his boss in 2003, says it's a matter of fairness.

"Tax fairness, like justice, must be seen to be done," he said. "Honest, law-abiding, taxpaying Canadians should not have to feel let down by a federal government unable or unwilling to make a serious effort to recoup monies from Canadians who try to avoid paying their fair share."

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Harper government letting overseas tax cheats off easy, says senator

BW Offshore Limitedis contemplating to issue a NOK 500-750millionsenior unsecured bond with maturity inMarch 2017. Theproceeds will be usedfor general corporate purposes.

DNB Markets, Nordea Markets, Pareto Securities and SEB Merchant Banking have been appointed as joint lead managersof the contemplated bond issue.

For further information, please contact:

Knut R. Sthre, CFO, +47 9111 7876

Kristian Flaten, Vice President IR and Corporate Finance, +47 9509 2322

About BW Offshore:

BW Offshore is a leading global provider of floating production services to the oil and gas industry. With the acquisition of Prosafe Production in 2010, the company has become the world`s second largest contractor with a fleet of 14 FPSOsand 2 FSOs represented in all major oil regions world-wide. BW Offshore has an excellent track record on project execution and operations, as well as a robust balance sheet and strong financial capabilities. In30 years of production, BW Offshore has successfully executed more than 30 FPSO and FSO projects. The company is listed on the Oslo Stock Exchange. Further information is also available on http://www.bwoffshore.com

The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: BW Offshore via Thomson Reuters ONE HUG#1590559

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BW Offshore: New contemplated bond issue

Murphy Realty Group continues to dominate the Ulster County Real Estate market, increasing their sales volume by more than 65%, a larger increase than any other real estate agency in Ulster County.

Ulster County, NY (PRWEB) March 01, 2012

With the current state of the real estate market, John is often asked how do you do it? How are you so successful?. Johns answer is we work hard, and we work smart. I have composed a team of Ulster County Real Estate Top Producers who not only live and breathe this business, but love it! John continues to say we have developed a specific strategy for marketing, that both promote our listings, as well as our company. No other company in the county offers a marketing plan even close to ours. We combine an aggressive approach to advertising and marketing in local newspapers, real estate magazines, TV endorsements, radio ads, and most importantly, a complete and DOMINANT online presence.

Murphy Realty Group syndicates their listings on over 100 various real estate websites, offers full HD, interactive virtual tours, features their listings on all of the top real estate websites, and takes advantage of all the various social media outlets, ensuring that their listings get maximum exposure.

Along with all of this, Murphy Realty Group has expanded their online presence. Their company website, MurphyRealtyGrp.com offers state of the art technology, making it that much easier for buyers to perform their Ulster County Real Estate search. The website offers advanced search options, along with the ability to save searches, save favorite listings, and receive instant automatic email notification for any new listings or price reductions for listings that meet desired criteria.

Besides the company website, Murphy Realty Group has recently announced that they offer numerous other real estate websites. Each of these sites are highly ranked for related search terms for that site. The company is targeting local buyers and sellers with area specific websites, such as WoodstockNewYorkRealEstate.com, UlsterCountyNYRealEstate.com, and CatskillsNYRealEstate.com. These are just a few of the additional websites that Murphy Realty Group has to offer.

These sites not only target local buyers and sellers, but they also strategically target out of area buyers, specifically NYC buyers. John Murphy, says that when someone searches for Woodstock Real Estate or Woodstock Homes For Sale, we will not only come up on the first page, but we have an entire site dedicated to that area. Murphy is right, after performing a search for Woodstock Real Estate, there were several other websites, but none as user friendly, or area specific as WoodstockNewYorkRealEstate.com. This website is full of local content, and information about the Woodstock area, offers a local Woodstock blog with news and events on the area, and also offers a user friendly advanced search for all listings in the Woodstock and surrounding areas.

Murphy went on to say that all of his company websites offer specific localized information. The dominant internet presence, along with the aggressive approach to marketing in print, TV and radio goes hand in hand with the reputation of his company, and his top producing Ulster County Real Estate agents. John goes onto state we are very well known throughout the county, weve been around a long time, and many of my agents are actively involved in the community. John continues to recognize and thank loyal clients, stating that the best compliment is a referral. John continues to say many clients and customers remain in contact and have become good friends, long after the home buying or selling process is over, and continue to refer us to their friends and family.

Murphy Realty Group continues to grow successfully, and dominate the Ulster County Real Estate scene. John also said that this is only the beginning of what we have to offer, so when asked why we are so successful, its easier to just say, were good at what we do, and we love it!

To learn more about Murphy Realty Group, visit http://www.MurphyRealtyGrp.com

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Murphy Realty Group Continues to Dominate the Ulster County Real Estate Market

Bangalore-based team to focus on M&A advisory and Private Placements in Technology and Education

BALTIMORE--(BUSINESS WIRE)--Signal Hill Holdings LLC (Signal Hill), the parent of Baltimore-based Signal Hill Capital Group LLC, a leading investment bank with a focus on growth companies, is pleased to announce the launch of Signal Hill Capital Advisory India Pvt. Ltd (Signal Hill India), a newly-created investment banking business based in Bangalore, India.

The combination of Signal Hills extensive sector knowledge and global distribution capabilities, balanced by the Indian teams local track record, domain knowledge and relationships, will enable us to hit the ground running and seize the tremendous opportunity that the Indian M&A and private placement markets offer.

Signal Hill India will specialize in M&A advisory and private placements with a focus on the IT / Technology and Education sectors. The business will be headed by Klaas Oskam, a highly regarded, senior banking professional with significant experience in the Indian market. Prior to joining Signal Hill India, Klaas Oskam was a Director in the Investment Banking team of Ernst & Young India. Joining Mr. Oskam are George Anthraper, Vice President, formerly Director and Head of India Operations for Technology Holdings, and Meherzad Kelawala, Vice President, formerly Associate Vice President within the Investment Banking team of Ernst & Young India. Over the last five years, this team has advised on over 20 M&A and VC/PE financing transactions in India in sectors such as: IT Services; BPO; Enterprise Software; Healthcare IT; Mobile Computing & Mobile value-added services (VAS); Internet and Education.

Our decision to expand to India was driven by our expectation of significant continued growth in this increasingly important and sophisticated market, coupled with the opportunity to associate ourselves with the unsurpassed talent and experience Klaas and his team bring to client engagements, said Scott A. Wieler, Signal Hill chairman. By investing in India, we see an opportunity to leverage the deep domain experience for which Signal Hill is well-known in the US, with an established, dynamic and experienced banking team in India.

Klaas Oskam, Managing Director commented: The combination of Signal Hills extensive sector knowledge and global distribution capabilities, balanced by the Indian teams local track record, domain knowledge and relationships, will enable us to hit the ground running and seize the tremendous opportunity that the Indian M&A and private placement markets offer.

One of the main contributors to Indias economic growth over the last 10 years has been the IT sector, which is poised to become a US $225 billion industry employing 30 million people by 2020. Although IT Services and BPO continue to be the main revenue contributors to the Indian IT sector, venture capital and private equity investors have recently been paying significant attention to emerging growth sectors including Internet, Enterprise Software / Software-as-a-Service (SaaS) and Mobile computing. Likewise, there is currently tremendous growth in the Indian private Education sector, which is estimated to grow to US$42 billion by 2013.

Signal Hill has chosen an opportune time to enter the Indian market considering the growth we are witnessing in private placements and M&A activity in the sectors covered by Signal Hill, said K. Ganesh, serial entrepreneur and Founder & CEO of TutorVista. Furthermore, entrepreneurs, VCs and company boards are increasingly looking to hire specialist investment bankers with deep sector expertise and global distribution capabilities. Having previously worked with Signal Hill, Klaas and his team, I believe they have the level of professional expertise and sector knowledge to make this India venture a success.

About Signal Hill:

Signal Hill is a privately-held investment banking partnership with a sole focus on growth companies. Our professionals have deep expertise in Information Technology, Media & Internet, Telecom Services & Internet Infrastructure, Communications, Education & Business Services, and Healthcare Services. Signal Hill has more than 50 professionals across five offices in the US: Baltimore, Nashville, New York, Reston, San Francisco (San Bruno). Signal Hill professionals have completed more than500 M&A advisory and financing transactions with leading growth companies, both domestically and internationally.

Originally posted here:
Signal Hill Announces Launch of India Initiative