AGP Executive Report
Last update: 9 hours agoVatican Finance Reform: Pope Leo XIV has reshuffled the Council for the Economy after prior financial scandals, including appointing Liechtenstein princess Gisela Bergmann, raising fresh questions about whether the new mix of cardinals and lay experts will deliver real change. Liechtenstein Banking Results: LLB Group reported first-half 2026 profit of SFr105.0m (+15.3%), with record client assets under management of SFr115bn and net new money inflows of SFr2.2bn, showing momentum in wealth and lending. US Drone Tariffs: The Trump administration’s Section 232 duties start Sept 3, 2026, with 100% tariffs on selected high-risk drones and docking stations and 25% on smaller drones, plus lower caps (including for Liechtenstein) only if importers meet strict origin-certification rules. EU Sanctions Alignment: The EU welcomed eight non-EU countries—including Liechtenstein—agreeing to align with new Belarus sanctions tied to Russia’s war. Cyber and Tax Pressure: France’s tax authority disclosed a breach affecting 678,000 people and firms, while HMRC in the UK sent 81,000 “nudge letters” to crypto investors over suspected underpayment. VP Bank Risk Role: VP Bank’s Singapore branch appointed Vincent Koo as Chief Risk Officer effective 24 Aug, strengthening governance as the bank pushes further in Asia.
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