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In a time when many emerging countries are trying to implement, restructure and develop their economies, Ms Christine Lagarde (International Monetary Fund, Director) has warned of new global challenges. These challenges, already being evident from the BRIC's economies (Brazil, Russia, China, and India)…


Money outflow from Brazil, Russia, India, China and South Africa (BRIC's group) with the aim of the U.S. have sparked fears about their economies. The motion is apparent from the hike of the U.S. dollar, which the South American and Chinese governments are already coordinating action measures to diminish…


The OECD is a government-funded think tank that was charged by the G-20 to tackle the issue. Tax planning strategies used by companies as Google Inc. (GOOG), Apple Inc. (AAPL) and Yahoo! Inc. (YHOO) and other similar companies are in the Organization's for Economic Cooperation and Development (OECD)…


Tax amnesty for return of capital

A new proposition that has been approved by the Government to gear up capital by offering an amnesty period till the 31st of December 2013 could be a solution to increase the liquidity needs of Cyprus. The Government is aiming for the return of liquid funds that are currently held in tax havens abroad. In…


This month, the Russian government has released the extent of oil and gas reserve-  which have been kept secret. According to Reuters, the cost of Russian Urals crude rose to a maximum value of 109.88 dollars per barrel; the price for North Sea Brent also changed to 109, 53 dollars per barrel. Oil prices…


G20 fight against tax evasion

On the 19thof July, a meeting of G20 finance ministers will be held in Moscow. The leaders are planning to introduce a new scheme to fight tax evasion. The Organization of Economic Cooperation and Development (OECD) prepared a plan of action to combat the diversion of legitimate income from taxation…


Data from the Ministry of Commerce showed that in the second quarter of this year, Singapore's economy grew by 15.2%. Advances in Biomedicine helped develop and boost the economy of the country. In comparison with the figures for the previous quarter, the data appears to be rather optimistic. The…


The court ruled that Apple has reached an agreement with publishing houses to raise prices artificially. Manhattan District Judge-Denise Cote has appointed a new hearing, in which the amount of damages will be determined by the actions of the participants of the cartel agreement. The judge also stated…


The International Monetary Fund (IMF) lowered its forecast for global growth to 0.2%, compared with the data in April of this year. According to IMF, the global economic outlook had deteriorated because of the deep recession in the Euro zone and a slower-than-expected economic growth of the U.S. In…