Hong Kong woos asset managers with potential tax cuts
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 27 March 2026
⏱️ 13 minutes
🧾️ Download transcript
Summary
The United Arab Emirates has told allies that it would participate in a multinational maritime task force intended to reopen the Strait of Hormuz, and Hong Kong is weighing tax cuts for asset managers. Plus, London has embraced a controversial form of energy production: burning rubbish.
Mentioned in this podcast:
UAE pushes for international force to reopen Hormuz
Hong Kong weighs ‘big bang’ tax cuts for asset managers
‘It’s good business’: how London became an ‘energy from waste’ capital
Note: The FT does not use generative AI to voice its podcasts
Today’s FT News Briefing was hosted and edited by Marc Filippino, and produced by Fiona Symon, Mischa Frankl-Duval, Victoria Craig, and Sonja Hutson. Our show was mixed by Kelly Garry. Additional help from Gavin Kallmann, Michael Lello and David da Silva. Our executive producer is Topher Forhecz. Cheryl Brumley is the FT’s Global Head of Audio. The show’s theme music is by Metaphor Music.
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Good morning from the Financial Times. |
| 0:04.1 | Today is Friday, March 27th, and this is your FT News briefing. |
| 0:08.7 | European bonds took a beating yesterday, and Hong Kong is considering a tax break for its asset managers. |
| 0:15.1 | Plus, London is finding a use for its trash. |
| 0:18.6 | So you have to do something with this waste and you may as well create energy |
| 0:22.7 | out of it. I'm Mark Filipino and here's the news you need to start your day. |
| 0:44.7 | The United Arab Emirates wants an international task force to reopen the Strait of Hormuz. |
| 0:46.9 | That's according to people familiar with the matter. |
| 0:50.6 | Separately, one source said Abu Dhabi would deploy its own navy. |
| 0:55.6 | The decision comes as the UAE bears the brunt of Tehran's retaliation to the U.S. |
| 1:00.7 | and Israel's war. In markets, the idea that there is no permanent resolution in sight is wreaking havoc on government debt, and yesterday, Eurozone bonds had their worst one-day sell-off |
| 1:05.9 | in a year. Late yesterday afternoon, U.S. President Donald Trump extended his deadline for Iran to reopen the straight from today to April 6th. |
| 1:15.1 | He's warned that the U.S. will, quote, obliterate Iran's energy infrastructure if ships are unable to traverse the waterway. |
| 1:36.3 | Hong Kong is hoping to reboot its role as a global financial center, and it wants to do that by carrying out sweeping cuts to its tax regime. |
| 1:43.3 | The change to its rules on carried interest would allow many asset managers to earn their performance fees tax-free. |
| 1:46.2 | This would help Hong Kong compete and maybe even outdo rival financial centers like Singapore and Dubai. The FTs Arjun Neil Allum is in Hong Kong |
| 1:53.0 | and he joins me to discuss this. Hi, Arjun. Hi there. So what exactly are the rule changes being |
| 1:58.5 | planned and how soon could they take place? |
| 2:01.9 | Essentially, carried interest is the share of profit in a fund that goes to the general |
| 2:08.6 | partner that manages the fund. In Hong Kong, there is an existing tax exemption for some |
| 2:15.0 | carried interest, but the conditions for it are extremely onerous. |
| 2:20.8 | And so what this is doing is essentially making it easier for more types of funds, |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Forhecz Topher, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Forhecz Topher and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.