The President of European Central Bank (ECB), Mario Draghi, said on Wednesday that the bank was willing to delay a proposed interest rate increase if necessary and consider measures required to be put in place in order to mitigate any side effects of negative interest rates on European economies. It would be recalled that arlier […]
Latest survey by Confederation of British Industry and accounting firm, PricewaterhouseCoopers (CBI/PwC) has reflected that optimism about the business outlook among Britain’s financial services companies at its fastest rate of gloom since the 2008 financial crisis as concerns about the country’s exit from the European Union (EU) heighten. The survey, which was conducted on Monday, […]
Turkey on Wednesday was rated as the country with the highest banking cards users in Europe with a total of 214 million banking cards, comprising both debit and credit cards, thereby overtaking the U.K and Germany. The Deputy General Manager of the Interbank Card Center (BKM), Cenk Temiz, gave this figures to the state-run Anadolu […]
A Luxembourg-based General Court on Tuesday annulled an earlier European Union (EU) state-aid ruling which required FC Barcelona, Real Madrid and two other Spanish football clubs to pay back taxes. The latest ruling of the court is the second time the regulators, which are seeking to tackle tax avoidance, are suffering a setback. A news […]
Apparently determined to substantially reduce its budget deficit and improve the performance of the economy in the 2019 fiscal year, the South African Government on Wednesday proposed sundry measures to boost revenue collection. South Africa’s Finance Minister, Tito Mboweni, gave the hints on government’s tax reform plans during a budget press conference, noting that weak […]
A news report by BBC News on Wednesday indicated that millions of Ugandans had abandoned the internet following government’s imposition of a social media tax last year The Uganda Communications Commission (UCC) was reported to have made the disclosure. It would be recalled that President Yoweri Museveni had pushed for the social media taxes to […]
France has indicated its determination to commence taxing US technology companies, also known as GAFA, effective from January 1, 2019. Before now, the country’s Economy Minister, Bruno Le Maire, had said that France would give the EU until March to come up with a deal on the proposed tax regime. Specifically, early this month France […]
European Union (EU) member-states have confirmed the exchange of information in 2017 on nearly 9 million financial accounts with a total balance of almost €3 trillion A report published by the European commission on the exchange of information on Monday indicated that EU transparency rules led to member-states to compile and share data from 8.7 […]
Spanish Prime Minister, Pedro Sanchez, on Wednesday said that his cabinet would approve next week a 22 percent increase in the monthly minimum wage to 1,050 euros ($1,192), a wage over N429,000, effective from 2019. Sanchez told the parliament the proposed wage increase document, “the biggest since 1977”, would be submitted to a cabinet meeting […]
France’s 10-year borrowing costs on Tuesday climbed to highest level compared with Germany in a year and a half barely 24 hours after the French President, Emmanuel Macron, announced spending measures in a bid to restore calm after weeks of violent protests. President Macron had on Monday announced wage rises for the poorest workers and […]