Monday , 23 April 2018
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G20 ministers urge tighter tax rules for multinationals

G20 ministers urge tighter tax rules for multinationals

The issue has become controversial in many countries, with multinational firms from Google to Starbucks facing accusations of not contributing appropriately to the economies where they make their money, and multi-billion-dollar merger proposals being partly driven by tax considerations. “When the current cross-border tax rules were developed they were tied to concepts that reflected geography and national boundaries,” US Treasury ... Read More »

IMF urges key G20 countries to spend more for growth

IMF urges key G20 countries to spend more for growth

Central bank chiefs and finance ministers from the world’s top 20 economies gathered in the southwestern Chinese city of Chengdu on Saturday to tackle a slowing global economy facing new uncertainties with Britain voting to leave the European Union (EU). “Global growth remains weak, and downside risks have become more salient,” the IMF said in a report released ahead of ... Read More »

IMF chief Lagarde to stand trial over $400 mn payout

IMF chief Lagarde to stand trial over $400 mn payout

France’s highest appeals court dismissed Lagarde’s challenge against the decision to try her for negligence in her handling of a dispute between a state-owned bank and businessman Bernard Tapie. Tapie walked away with a staggering 404 million euros ($445 million) in compensation in 2008 after Lagarde ordered the long-running row over the sale of sports gear giant Adidas to be ... Read More »

UK economy shrinking after Brexit vote: survey

UK economy shrinking after Brexit vote: survey

The preliminary composite purchasing managers’ index (PMI) by the research Markit group sank to 47.7 points in July, down from 52.4 in June. A reading under 50 indicates contraction in private sector activity. The survey — regarded as a key early indicator of economic activity before official statistics are published — is the first major evidence of economic fallout after ... Read More »

Sri Lanka’s cash-strapped airline may lease four planes to PIA

Sri Lanka’s cash-strapped airline may lease four planes to PIA

State-owned SriLankan Airlines aims to reduce its debt and is looking for an international partner to help reverse years of losses. “A team from the airline is in Pakistan for negotiations. We will lease one A330, latest next month, on wet lease,” Kabir Hashim, Minister of Public Enterprise Development, told reporters in Colombo. A wet lease refers to when one ... Read More »

Pokemon Go craze finally hits Japan

Pokemon Go craze finally hits Japan

The smartphone app has now been launched in more than 40 countries, including the United States (US) and much of Europe, but Japan – where Nintendo started the mythical creature franchise 20 years ago – was kept waiting. The suspense lasted for days, as international media reports about a timeline for the Japan rollout kept changing, and Nintendo, the Pokemon ... Read More »

Britain’s unemployment rate dips to 11-year low

Britain’s unemployment rate dips to 11-year low

The unemployment rate had stood at 5.0 percent in the three months to April, which had been a near 11-year low, the Office for National Statistics said in a statement. The ONS added that the unemployment total dropped to an eight-year low of 1.65 million people in the three months to May. However, none of the data covers the period ... Read More »

Nintendo worth more than Sony after Pokemon rally

Nintendo worth more than Sony after Pokemon rally

The Pokemon franchise creator surged nearly 11 percent to end the morning at 30,780 yen ($290), up more than 100 percent from its July 6 close. That put Nintendo’s market capitalisation at 4.36 trillion yen, topping Sony, one of Japan’s best-known companies by 300 billion yen. On Friday, Nintendo set a record for the most shares ever traded daily in ... Read More »

UberFacts founder earning $500,000 by posting random facts

UberFacts founder earning $500,000 by posting random facts

UberFacts has more than over 18 million followers on Facebook, Instagram and Twitter since his first post back in 2009. A sunflower is actually a cluster of hundreds of flowers. — UberFacts (@UberFacts) July 18, 2016 Banks employ therapists known as “wealth psychologists” who help super-rich clients mentally cope with their immense wealth. — UberFacts (@UberFacts) July 18, 2016 A ... Read More »

Saudi Binladin seeks loan extension after Grand Mosque payment delay

Saudi Binladin seeks loan extension after Grand Mosque payment delay

The request to delay the payment, originally due on July 15, was because the Saudi government had yet to reimburse the construction firm for work carried out on Islam’s holiest location, the sources said on condition of anonymity due to the subject’s sensitivity. The company has been hit by government spending cuts and by its suspension from receiving new state ... Read More »