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News : Global Economy Last Updated: Oct 9, 2015 - 12:32 AM


News : Global Economy

Bolder policies can inject a new momentum into the world economy to help it overcome what has been so far a disappointing recovery characterised by a "new mediocre era of growth," Christine Lagarde, IMF managing director, said Thursday.

Oct 3, 2014 - 11:05 AM

News : Global Economy

World Economic Growth: In the current global environment of sub-par growth, there is a strong case for increasing public investment in countries in infrastructure where conditions are right, finds a new study released in the IMF's World Economic Outlook.

Oct 1, 2014 - 2:41 AM

News : Global Economy

The Swiss government wants to abolish controversial tax privileges for international firms and introduce a royalty box and an interest-adjusted profit tax. Presenting the Cabinet's draft proposals, Finance Minister Eveline Widmer-Schlumpf said the aim of the reform is to adapt the fiscal policy to international standards, boost Switzerland's competitive edge as an attractive business location and encourage companies to continue to make an important contribution to funding the tasks of the government, cantons and local authorities.

Sep 25, 2014 - 7:45 AM

News : Global Economy

The International Monetary Fund (IMF) says that an uneven global recovery continues, despite setbacks this year.

Sep 18, 2014 - 7:46 AM

News : Global Economy

The moves to cut trade tariffs from the late 1940s ushered in decades of prosperity in the developed world while enabling countries as diverse as Ireland and China to use globalisation characterised by trade and foreign investment, to rise from poverty. Now with growing income inequality and job insecurity, people in advanced economies are increasingly not convinced about the benefits while in Germany, one of the big beneficiaries of trade, people don't like the idea of foreigners buying their companies.

Sep 17, 2014 - 4:36 AM

News : Global Economy

Last year G20 group of leading developed and emerging economies tasked the Organisation for Economic Co-operation and Development - - the Paris-based think-tank for 34 mainly developed countries - - to produce proposals for reform of global corporate tax rules and today the OECD released its first recommendations for a co-ordinated international approach to combat tax avoidance by multinational enterprises, under the OECD/G20 Base Erosion and Profit Shifting Project designed to create a single set of international tax rules to end the erosion of tax bases and the artificial shifting of profits to jurisdictions to avoid paying tax. It's the biggest reform program of global business tax rules since their development in the 1920s.

Sep 16, 2014 - 1:55 PM

News : Global Economy

The United States has the 3rd least competitive tax code in the 34-member OECD (Organisation for Economic Co-operation and Development), trailed only by Portugal and France, according to the 2014 International Tax Competitiveness Index (ITCI; pdf) released Monday by the right-leaning Tax Foundation in Washington DC. The report finds that Estonia (No. 1), New Zealand (2), and Switzerland (3) have the most competitive tax codes among developed nations. Ireland got an 15th ranking.

Sep 16, 2014 - 3:03 AM

News : Global Economy

A moderate expansion is underway in most major advanced and emerging economies, but growth remains weak in the Eurozone, which runs the risk of prolonged stagnation if further steps are not taken to boost demand, according to the OECD’s gloomy Interim Economic Assessment, which cuts its forecasts for all big economies except India.

Sep 15, 2014 - 3:10 PM

News : Global Economy

Global demand for crude oil slowed at a "remarkable" pace in the second quarter because of weak economic growth in Europe and China, according to the International Energy Agency, the Paris-based energy watchdog for 28 industrialised countries, including Ireland.

Sep 12, 2014 - 8:29 AM

News : Global Economy

This week Christine Lagarde, IMF chief, said in an interview that the world economy will grow a "small 3% this year, between 3% and 3.5%."

Sep 12, 2014 - 7:45 AM

News : Global Economy

Just over 14% of men work part-time in Switzerland, a country with the second highest rate of part-time workers out of all OECD nations. Nine out of ten men would like to reduce their hours at work, according to one study. So why don't more make this a reality?

Sep 12, 2014 - 7:01 AM

News : Global Economy

"If only God would give me some clear sign! Like making a large deposit in my name at a Swiss bank," Woody Allen, the American comedian, quipped in his 1975 book, 'Without Feathers' and in a bizarre development, Switzerland, the world's biggest personal tax haven, has reopened a case where a federal minister has been accused of hiding company funds in offshore letter-box companies to evade tax.

Sep 12, 2014 - 6:16 AM

News : Global Economy

The world economy has not yet escaped the growth doldrums in which it has been marooned for the past four years, and there is a growing danger that this state of affairs is becoming accepted as the "new normal, " the United Nations (UN) trade agency said in its annual report published Wednesday. "Policymakers everywhere, but particularly in the systemically important economies, need to assess current approaches and pay closer attention to signs of inclement economic weather ahead," it said.

Sep 11, 2014 - 8:08 AM

News : Global Economy

The World's biggest economies have been warned on the reliance on poor quality jobs with little security coupled with stagnant pay.

Sep 10, 2014 - 7:04 AM

News : Global Economy

Global economic growth is likely to remain at muted levels in most of the big world economies in coming months, according to leading indicators published Monday by the Organisation for Economic Co-operation and Development (OECD).

Sep 8, 2014 - 3:45 PM

News : Global Economy

Unemployment will remain well above its pre-crisis levels next year in most of the 34-mainly developed member countries of the OECD (Organisation for Economic Co-operation and Development, despite modest declines over the rest of 2014 and in 2015, according to a new employment report.

Sep 4, 2014 - 4:31 AM

News : Global Economy

Over the last 20 years, the number of university graduates has been steadily rising all over the world. That’s true in Switzerland, too, although historically fewer people in the Alpine country have pursued higher education than elsewhere in Europe – and more are employed. What do the numbers tell us?

Aug 27, 2014 - 3:12 AM

News : Global Economy
The most liveable cities tend to be mid-sized and boring compared with the Economist Intelligence Unit's 2014 global liveability ranking for big metropolises with London at 51st of 140 cities, just ahead of mid-size Dublin at joint 46th.
Aug 20, 2014 - 7:21 AM

News : Global Economy
A recovery in the global corporate capital expenditure (capex) cycle is some way off, according to a report published by Standard&Poor's Ratings Services. Despite healthy corporate balance sheets, global capex spending fell by 1% in real terms in 2013. Current estimates suggest a similar decline is likely in 2014 and early indications for 2015 are even more pessimistic.
Aug 18, 2014 - 5:37 AM

News : Global Economy
Despite high geopolitical tensions in Eastern Europe and the Middle East, oil prices have dipped this week in response to robust supply and a weak world economy whileUS production is at the highest level since 1987.
Aug 14, 2014 - 3:59 AM

News : Global Economy
Global fund managers are reported to have raised cash holdings to the highest since June 2012, according to a survey this month by Bank of America Merrill Lynch, while cutting European equity holdings.
Aug 13, 2014 - 7:31 AM

News : Global Economy
Composite leading indicators (CLIs), designed to anticipate turning points in economic activity relative to trend, continue to point to stable growth momentum in the OECD area as a whole.
Aug 11, 2014 - 2:48 PM

News : Global Economy
Last week in an alert from Japan, the first major country to experience a natural fall in its population, it was reported that as many as 8.2m houses in the country are vacant - - accounting for 13.5% of the housing stock - -  and the number has increased by 630,000 from five years ago to a record. The economy is still struggling to exit 15 years of deflation and according to Moody's it's is one of 3 'super-aged' countries that is set to become 13 by 2020 and 34 by 2030.
Aug 7, 2014 - 8:59 AM

News : Global Economy
The global economy made a solid start to the third quarter, as output growth in manufacturing and services accelerated to its highest rate in almost three-and-a-half years. The further expansion in business activity was underpinned by robust inflows of new orders, encouraging both manufacturers and service providers to raise employment.
Aug 6, 2014 - 8:57 AM

News : Global Economy
It has been a bad week so far for Russia as the US and leading European powers on Monday agreed to ramp up economic sanctions while in The Hague, the Permanent Court of Arbitration said that the Russian Federation should pay $50bn to the major shareholders of Yukos, which until 2003 was the country's biggest oil company, but was confiscated and broken up on the orders of President Putin while its assets were given to Rosneft, now the world's biggest quoted oil company.
Jul 29, 2014 - 5:56 AM

News : Global Economy

Switzerland has faced turbulence in recent times over tax evasion and banking secrecy, and the Swiss have this year agreed under duress to sign up to a multilateral agreement sponsored by the Organisation for Economic Co-operation and Development (OECD), which provides for automatic sharing of banking information from 2017. However, a French economist claims that Swiss banks will continue to have tempting incentives to cheat.

Jul 28, 2014 - 7:20 AM

News : Global Economy
The IMF’s latest World Economic Outlook (WEO) Update published Thursday says that global recovery continues but at an uneven pace, and that downside risks remain. The Fund has cut its 2014 forecast and it said continued policy efforts are needed to secure a more robust recovery.
Jul 25, 2014 - 7:24 AM

News : Global Economy
Dublin's Grafton Street is the 23rd most expensive country ranking retail location in the world and is down from 6th rank in 2006.
Jul 23, 2014 - 11:55 AM

News : Global Economy
Taking an important step towards greater transparency and putting an end to banking secrecy in tax matters, the Organisation for Economic Co-operation and Development (OECD) on Monday released the full version of a new global standard for the exchange of information between jurisdictions. It also announced that €37bn in taxes has been collected since 2009 by governments, from tax evaders who had funds hidden in tax havens.
Jul 22, 2014 - 7:31 AM

News : Global Economy
Global Fund Managers’ allocation for equities is at a multi-year high but intention to own European stocks on a 12m view has dropped to 13 month low according to the BofA Merrill Lynch Fund Manager Survey for July.
Jul 18, 2014 - 4:05 PM

News : Global Economy
A new index published Monday by The Economist Intelligence Unit shows that islands states can dominate global e-trade, with Australia, UK and Japan all in the top 5. The G20 e-Trade Readiness Index, sponsored by eBay, points to the strength of the UK’s international trading environment. It also has high usage of e-payments systems and social media, much higher than its European neighbours, which bodes well for e-trade digital marketing.
Jul 15, 2014 - 1:45 AM

News : Global Economy
You may not think buying a chocolate bar from a supermarket or filling up a car with fuel would have anything to do with the huge fine given to French bank PNB Paribas earlier this month. But they do.
Jul 14, 2014 - 9:10 AM

News : Global Economy
Composite leading indicators (CLIs), designed to anticipate turning points in economic activity relative to trend, continue to point to stable growth momentum in the OECD area as a whole.
Jul 9, 2014 - 2:51 AM

News : Global Economy
Christine Lagarde, International Monetary Fund (IMF) managing director, on Sunday said in a speech at the Le Cercle des Economistes' Rencontres Economiques d’Aix-en-Provence economics symposium in her homeland, France, that the global "recovery remains modest and fragile."
Jul 7, 2014 - 6:21 AM

News : Global Economy
The Bank of International Settlements (BIS) says in its annual report which was issued Sunday that the current global markets euphoria does not reflect economic reality and its general manger warned on interest rates that: " if they persist too long, ultra-low rates could validate and entrench a highly undesirable type of equilibrium - - one of high debt, low interest rates and anaemic growth."
Jun 30, 2014 - 7:04 AM

News : Global Economy
Developing economies are increasingly victims of corporate tax avoidance by multinationals according to a paper issued Wednesday by the International Monetary Fund (IMF).
Jun 26, 2014 - 4:55 AM

News : Global Economy
Foreign direct investment (FDI) into developing economies is forecast to peak while China is expected to become a net investor, according to an annual report from an UN agency that was published on Tuesday. In a related survey, Ireland is not among preferred future host sites of top global companies.
Jun 25, 2014 - 7:31 AM

News : Global Economy
Manufacturing cost competitiveness around the world has changed dramatically over the past decade - - so dramatically that many old perceptions of low-cost and high-cost nations no longer hold, according to new research by Boston Consulting Group (BCG). In manufacturing, Brazil is now one of the highest-cost countries, for example, and the UK is the cheapest location in western Europe. Mexico now has lower manufacturing costs than China, while costs in much of eastern Europe are basically at parity with the US.
Jun 24, 2014 - 1:25 AM

News : Global Economy
Global investors have regained an appetite for risk against the backdrop of strong liquidity and a fairly positive economic outlook, according to the BofA Merrill Lynch Fund Manager Survey for June as a net 66% of respondents expect the global economy to strengthen over the next year. This bullish reading is unchanged from last month’s survey. However, concern at the pace of expansion is rising. A net 78% now anticipate below-trend growth over the next 12 months. In response, more investors than ever before (63%) are calling on companies to increase their capital spending.
Jun 18, 2014 - 9:12 AM

News : Global Economy
Have Swiss banks found a new religion? They are now distancing themselves publicly from their belief in banking secrecy. Their new strategy: to influence global standards on the automatic exchange of client information.
Jun 16, 2014 - 2:13 AM


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