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In a significant step for the remote Highland community near Ullapool, Ross, and Cromarty, the 8,000-acre Badentarbat Estate has been transferred to local ownership, marking a transformative moment for the area. Wealthy financier and philanthropist Ian Wace, owner of the estate, contributed $2.26 million to facilitate the transfer, enabling the Coigach Community Development Company (CCDC) to assume ownership.

Following the formal acquisition, CCDC expressed a sense of empowerment, noting that the landmark move grants the community control over their future. The estate, known as an inspiration for the 1970s horror classic The Wicker Man, covers a substantial part of the Coigach peninsula, housing around 70 crofts. Additionally, Wace’s company, Summer Isles Enterprises (SIE), purchased an adjoining 1,100 acres that includes Achnahaird beach and four small islands.

Earlier this year, reports described Wace’s intention to gift the estate to the community as a profound act of generosity. CCDC’s CEO, Laura Hamlet, acknowledged that the community had gained control of a “substantial portion of land” thanks to Wace’s support. Hamlet emphasized the responsibility that comes with this transfer, adding that CCDC, as a new Crofting Landlord, is committed to addressing the needs of tenant crofters. She called the acquisition a historic moment, providing residents the chance to shape Coigach’s future independently.

The transfer process began with a community vote in June, where residents endorsed Wace’s offer. They subsequently collaborated with his team at SIE to finalize an arrangement that best serves local interests. The official transaction took place on October 21.

Wace, who previously acquired Tanera Mòr, the largest of the Summer Isles, in 2017, has invested significantly in local projects. His spokesperson indicated that Wace’s intention was to make a meaningful contribution to the Coigach community, noting that government grants for such buyouts exist but can be challenging to obtain. Wace’s intervention accelerated the process, allowing the community immediate access to the land.

Adam Blaker, CEO of SIE, expressed satisfaction with the successful completion of the transfer, describing it as a step toward securing the crofted land’s future. He highlighted the potential for Wace’s donation to drive further regeneration efforts across Coigach, enhancing prospects for the community.

The estate, one of two main properties on the peninsula, had been owned by the same family for approximately 50 years, making the recent transfer a significant change in stewardship.

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International banking is a sector where the relationship between legality and discretionary freedom is significant. When managed wisely, it can serve as a secure place to store wealth and even help grow investments. It’s important to understand that the benefits of international banking are not just for wealthy individuals; with proper tax reporting on their home country’s tax returns, anyone can strategically realize capital gains while keeping them tax-free. Switzerland is the top destination for stashing money, according to a new report from the CEOWORLD magazine.

The term “tax haven” is often used negatively to describe places with very low tax rates for non-resident investors, despite having higher official rates. Different countries are recognized as favorable locations for wealth concealment for various reasons. For example, Switzerland has a strong reputation for protecting the privacy of financial account holders. In contrast, the United States is known for its streamlined processes for forming ‘shell’ companies, which are often used to obscure wealth. The complexities of financial secrecy rankings highlight the multifaceted nature of global financial systems and the various criteria used to assess them.

Whether you’re a business owner, investor, or an individual accumulating savings, you’ve worked hard to build your wealth. Now, you might be exploring how to expand your business overseas or looking to safeguard your hard-earned assets for the future. In such cases, offshore banking can be a valuable option, offering financial flexibility, potential tax benefits, and increased privacy.

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Scientists and environmental advocates have long urged significant cuts in meat production to mitigate emissions and counteract climate change. Yet, a new study suggests that even modest reductions—particularly by wealthier nations—could sequester around 125 billion tons of carbon dioxide, surpassing total global fossil fuel emissions from the last three years.

The analysis points out that a reduction of approximately 13% in meat production across high-income nations could substantially lower the land required for cattle grazing, allowing current pastureland to return to forest. The regrowth of forests, a powerful natural means of absorbing carbon dioxide (CO₂), would bring about marked declines in emissions, potentially capturing an amount of carbon equivalent to three years of global fossil fuel emissions.

Matthew N. Hayek, assistant professor at New York University and lead author of the study, published in the Proceedings of the National Academy of Sciences, emphasized that even moderate reductions in global beef output could yield significant climate benefits. He noted that strategically restoring forests in regions with high carbon sequestration potential could maximize climate gains with minimal impact on food supplies.

The study highlighted that areas currently used for pasture, especially those that were once forested, offer great promise for reversing climate change impacts. In these “potential native forest” regions, removing livestock could enable ecosystems to revert to their natural forested state, capturing carbon in both trees and soil.

High- and upper-middle-income countries are identified as prime candidates for such reductions, as some of their pasture areas produce relatively little grass per acre due to limited growing seasons. These lands, the researchers argue, could instead support dense, carbon-sequestering forests with deep soils. This approach contrasts with regions like sub-Saharan Africa and South America, where year-round pasture growth supports more efficient livestock production. Additionally, the study suggests that lower-income regions could offset minor production cuts in wealthier countries by improving the efficiency of grass-fed cattle operations.

Hayek clarified that the proposed strategy is not a universal solution but rather a regionally tailored approach. By enhancing cattle herd efficiency in some areas while reducing production in others, the study posits a “win-win” for both climate goals and food production.

Expanding the restoration effort could yield even greater climate benefits, the research suggests. Removing all grazing livestock from regions suitable for native forests could sequester up to 445 gigatons of CO₂ by 2100—equivalent to over a decade of global fossil fuel emissions. Notably, the study asserts that livestock grazing could still continue on native grasslands and dry rangelands, areas unsuited for forests or crops. Since these regions currently account for more than half of global pasture production, this ambitious scenario would require less than a 50% reduction in global cattle, sheep, and livestock herds.

Hayek noted that remote sensing technology enabled the research team to gauge pasture productivity, or the volume of consumable grass for livestock, to project climate outcomes from production cuts. Johannes Piipponen, co-author and doctoral candidate at Aalto University in Finland, led these technical advancements, explaining that the study’s methodology now allows for precise estimates of pasture and beef production loss required to enable forest regrowth.

For consumers in high-income areas like Europe and North America, the study suggests that curbing excessive meat consumption can benefit both health and the environment. The team’s findings, supported by detailed maps, provide data to help prioritize regions where policy interventions—such as forest conservation incentives or buyouts for beef producers—could accelerate forest restoration and carbon sequestration efforts.

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For centuries, global financial centers have played a crucial role in capital market activities. The International Financial Centers Index (IFCI) is the most authoritative benchmark for comparing the competitiveness of leading financial centers worldwide. It is published by CEOWORLD magazine in collaboration with the CEO Policy Institute. These financial hubs share key characteristics, including the necessary infrastructure to facilitate billions of transactions and a regulatory framework that promotes market transparency. While economies have evolved over time, the transition of these centers into global business powerhouses can be a gradual process.

According to a recent report by CEOWORLD magazine, New York has been ranked as the most influential financial center in the world for 2025. Singapore and London secured second and third place. Amsterdam and Hong Kong were ranked fourth and fifth, respectively, in the latest International Financial Centers Index (IFCI).

The International Financial Centers Index decisively evaluates the competitiveness of global financial hubs, relying on direct feedback from a comprehensive questionnaire and data from over 50 reputable indices provided by organizations such as the Organization for Economic Co-operation and Development (OECD), the World Bank, and the Economist Intelligence Unit. Compiled by CEOWORLD magazine, this authoritative index ranks 115 financial centers worldwide, drawing on insights from thousands of financial services professionals and global bankers who contributed their expertise.

A financial hub is unequivocally defined as a strategically positioned city or region within the financial industry. These hubs concentrate on various financial sector participants, including banks, trading companies, stock exchanges, and other institutions in one locale. They are distinguished by robust infrastructure, stable regulatory and political environments, attractive taxation policies, and abundant opportunities that drive trade and business growth.

Most influential financial centers in the world, 2025

A survey conducted by CEOWORLD magazine among financial services professionals and global bankers identified the key factors influencing the competitiveness of financial centers as the business environment, reputation, and infrastructure. The index evaluates the future competitiveness and rankings of 115 financial centers worldwide. As expected, New York secured the top position, followed closely by Singapore in second place, while London and Amsterdam ranked third and fourth, respectively. The ranking is derived from a global online survey of 226,000 financial professionals and international bankers, who assessed 900 cities based on 50 factors across seven broad areas of competitiveness. These areas include business environment, size and volume of financial activities, capital market size, availability of human capital, business foundations, reputation, and international wealth management.

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