Economy
(ICIJ)

Pandora Papers: An Offshore Data Tsunami

The investigation is based on a leak of confidential records of 14 offshore service providers that give professional services to wealthy individuals and corporations seeking to incorporate shell companies, trusts, foundations and other entities in low- or no-tax jurisdictions. The entities enable owners to conceal their identities from the public and sometimes from regulators. Often, the providers help them open bank accounts in countries with light financial regulation.

Garment-Sector Minimum Wage Gets $2 Increase

The new wage was voted on after four rounds of weekly negotiations between unions, which initially suggested a $22 raise; employers, which wanted to see the minimum wage cut by $4; and the Labor Ministry.