Category : Economy

In a damming report, the Public Accounts Committee called on HMRC to “fully investigate” the company after it had used contrived arrangements to avoid tax on its multi billion pound revenues in the U.K. 14th June 2013 International Finance Magazine with inputs from “The Guardian” reports the story on Google’s contrived arrangements to avoid tax,...

The CBOE is the third U.S exchange to be penalised for oversight. 13th June 2013 In this article, International Finance Magazine reports the story with key inputs from “The Financial Times”. The story also explains short selling practices and recent court indictments on naked short selling and the unethical practices followed by traders to destabilize...

Oil and Gas boom in Africa. If it is Africa, numbers – like oil and gas – are not static. So Africa accounts for nearly 7% of world oil production? But if is so yesterday, if you go by the new money on the Sahara. Soon, sub-Saharan Africa could be chalking up double digits powered...

Uzbekistan pushes to reduce Energy Consumption and positioning itself to be a regional leader in energy tomorrow. Uzbekistan is scaling up an ongoing energy efficiency project, investing an additional million in the country’s industrial sector. This new loan is expected to save more than 200,000 MWhs and reduce CO2 emissions in the country by 400,000...

“The slight downgrade in the growth forecast reflects largely short-term challenges faced by a few Pacific economies,” said Xianbin Yao, Director General of ADB’s Pacific Department. MANILA, PHILIPPINES –The Asian Development Bank’s (ADB) latest Pacific Economic Monitor has trimmed the 2013 economic growth forecast for the Pacific region to 5.0% on the back of lower-than-expected government capital spending...

With rising costs of Chinese businesses and with support from northern neighbors, U.S., Mexico is experiencing a second spring, in the manufacturing sector. 11th June 2013 Mexico and Peru’s popularity among foreign investors will see them as emerging economies and a favorite among investors looking to push cash into Latin America. Brazil, which was once...

Improved Public Services Benefit Russia’s Citizens A decade ago, even as Russia enjoyed impressive economic growth, the country faced serious economic challenges. The government had little oversight over expenditures of ministries and agencies. The budget was inefficient and poorly designed to achieve social and economic objectives. Meanwhile, businesses were drowning in red tape, and citizens...

Ghana is ranked 7th out 46 countries in the sub Sahara African region and its overall score has risen above the world average. 9th June 2013  In a major impetus to its economy, International Finance Corporation (IFC), the World Bank’s development arm has revealed plans to issue a 10 year bond to raise 2 billion...