“Playtime” declared over for multinationals escaping taxation

The world's most developed countries have announced further plans to attempt to close the loopholes on tax-avoiding multinationals, which cost the global economy more than €100 billion each year.

Report: The 10 most competitive economies in the world

The Global Competitiveness Report 2015-2016 assesses the competitiveness of 140 world economies including the ones of the USA, Russia, UK, Singapore and Cyprus.

EU Quantitative Easing is not achieving results as expected

The recent changes in the EU stock markets testify to the fact that the long-awaited monetary policy of the European Central Bank is not bringing results as previously anticipated. Contrary to general expectations, profitability of the EU members state bonds are promptly growing. It is worth noting that…

Will the ECB’s quantitative easing strategy withstand the critics?

On Thursday the European Central Bank (ECB) launched a program to buy government bonds, also known as quantitative easing. In an attempt to combat the on-going debt crisis, the ECB chairman Mario Draghi stated that the ECB would do whatever it takes to preserve the euro.

IMF lowers growth forecast for global economy

The International Monetary Fund (IMF) has lowered its forecast for global economic growth for 2015 and 2016. The IMF expects a growth of only 3.5% this year, compared with the previous estimate of 3.8% which was made last October. The growth forecast for 2016 has also been cut to 3.7%.

Will the global gap expand as the price of oil plunges?

In recent months, the recovery in the United States, weakening euro zone and slowing Chinese growth reflect global financial gaps which plunging oil prices are likely to widen. Generally, lower energy bills should give both individuals and companies more disposable income to spend and boost economic growth, at least for oil importers.

European bitcoin exchange victim of cyber attack

Europe's biggest Bitcoin exchange has been the target of an online crime and has been hacked again. Cyber thieves have taken about 19,000 bitcoin ($5.2 million) from Bitstamp accounts. The company said it has suspended services after some digital wallets were compromised on the 4th of January.

Oil drops to almost $50 a barrel amid fears for the global economy

The price of Brent crude oil fell to just above $50 a barrel, provoking new warning signs about the global economy. Fears over Greece pulling out of the euro and slow worldwide growth sent investors racing out of oil, sending shares into disarray again.

Legal action taken on the “Luxembourg Leaks” violation

The so called Luxembourg Leaks are based on confidential information about tax rulings from 2002 to 2010 which resulted in making available to the public in November 2014 the names of over three hundred multinational companies involved in the tax rulings. The Luxembourg Leaks' disclosures attracted international attention about tax avoidance schemes in Luxembourg and elsewhere.

International Risk Review

Eltoma Corporate Services would like to draw your attention to the potential business risks associated with trading in overseas countries. The headlines below highlight some of the recent changes that have impacted the risk environment.