Micro News

Micro News

Switzerland's largest bank is battling a number of court cases in Europe on charges of assisting in tax evasion and asset hiding in Switzerland. According to media reports, the Swiss bank UBS is going to pay USD $113 million to resolve the issue of a tax offense in Italy for the period of its activities…


The European Commission is taking Spain to court for “excessive sanctions” imposed on Spanish taxpayers who do not report assets located in other EU member states. The European Commission does not object to the reporting obligation itself but believes that the fines associated with it are “higher than…


In May, Facebook's chief operating officer Cheryl Sandberg supposed that attempts to break up major US technology companies were not at all aimed at solving problems that had arisen in the economic sector but were driven by other motives. “You can break us up, you can do it in relation to other technology…


On May 24th, the Law Society of Singapore (LawSoc) reported that it took control of the funds of the law firm JLC Advisors in connection with the disappearance of the managing director Jeffrey Ong along with USD $33 million. This amount of money previously belonged to the engineering firm Allied Technologies. These…


In 2008, the total amount of companies' and individuals' deposits in key international financial institutions reached a peak of USD $1.6 trillion. According to the OECD, this year there has been a significant decline in this indicator, namely by 34%. It is reported that about two-thirds of the cuts…


On April 4th, a bill regarding the creation of a partially public register of ultimate beneficial owners of companies was introduced in the Parliament of the Netherlands. The register will be a part of the trade register of the Chamber of Commerce in January 2020, after which all newly registered companies…


On May 27th, it became known that one of the largest financial conglomerate (HSBC) intends to increase its revenues and plans a large staff reduction by the end of 2019. According to some sources, over 500 jobs are expected to cut. Such staff redundancy will affect the global banking and market sectors,…


According to the annual global competitiveness rating made by IMD World Competitiveness Centre, Singapore has overtaken other countries being the most competitive economy in the world. The return of Singapore to the first place in 2019 was due to the rapid development of technology, the availability…


On May 29th, the Central Bank of Singapore announced that it was not engaged in currency manipulations after the United States included the country to the list of trading partners. Singapore along with eight other US trading partners has been added to the list of countries whose exchange rates will…



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