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Belgium Cabinet Approves Draft Bill to Introduce Brexit Transitional Tax Provisions

The Belgian Council of Ministers Oct. 18 approved a draft bill to introduce transitional tax provisions for various transactions between Belgian and U.K. businesses and residents in anticipation of Brexit. The draft bill includes measures that would provide a transitional period for: 1) insurance benefits in contracts concluded on or before Dec. 31; 2) withholding tax exemptions for remuneration due ... Read More »

Thai women in Japan drug bust

Japanese Police and Customs Officials at Fukuoka Airport reported the arrest of seven Thai women who smuggled in drugs weighing more than a kilogram into Japan. The women separated the drugs into tiny bags and hid them in random places on their bodies. The women purchased tour tickets and tried to blend in as Thai tourists. When caught with the ... Read More »

Ukrainian it sector review: revenues expected to reach $5billion in 2019

A comprehensive new report into the Ukrainian IT industry produced by tech service provider N-iX has predicted a rise in annual industry revenues to a new high of USD 5 billion during the current year, representing almost double the total reached four years ago in 2015. The report, which draws on data from a range of domestic and international sources ... Read More »

Catalonia situation capping economic growth in Spain: minister

Spain’s acting Economy Minister Nadia Calvino said on Wednesday the country would more widely outperform the European Union’s economic growth if sub-par growth in Catalonia returned to average. “In the last couple of years we have seen high political uncertainty, also social tension,” in Catalonia, Calvino said, “which I’m quite sure has had an economic impact.” She did not give ... Read More »

2 Firms in Japan Framed in Car Smuggling to N. Korea: Probe

Two companies in Japan allegedly involved in the smuggling of German-made luxury cars to North Korea handled the vehicles without knowing that they were bound for the reclusive country, according to a summary of an investigation report by a team of lawyers. Mino Logistics Japan Co. in the western city of Osaka and affiliated Zuisyo Co. in Hyogo Prefecture, near ... Read More »

Huawei vows to boost Thailand’s tech ecosystem as it marks 20 years in Thailand

Huawei Thailand on announced its mission to build a thriving technology ecosystem in celebration of its 20th anniversary in Thailand. In line with the theme “Together for a Fully Connected, Intelligent Thailand”, Huawei said it was committed to bringing the latest information and communications technology to the country. “This year marks a significant milestone for Huawei, as we are celebrating ... Read More »

The area in finance where South Africa ranks number one in the world

South Africa is open for business and hopes to attract billions of rands worth of investment during the second annual South Africa Investment Conference (SAIC). Speaking ahead of the upcoming second conference, minister of Trade & Industry Ebrahim Patel said that over the past year, the government has made steady progress on making it easier to do business in South ... Read More »

Prosecutors Push Up To 10 Years For €22m Cocaine Bust Hidden In Frozen Fish

Prosecutors alleged that a group of seven men were at least partly responsible for the importation of approximately 1,125 kilograms of cocaine hidden inside a shipment of frozen fish. The cocaine entered the Netherlands at the Port of Rotterdam and was then tracked to a worksite in Zaandam in July 2018. The drugs carried a street value of roughly 22 ... Read More »

After trade talks in US, China ramps up Brazilian soy purchases

Chinese importers have been busy booking fresh purchases of soybeans from Brazil this week, despite the White House announcement that China had agreed to buy up to $50 billion of US farm products annually during trade talks last week. The purchases from Brazil, rather than the United States, show that China is in no hurry to buy U.S. products in ... Read More »

Scott Morrison travels to Indonesia as Labor embraces free trade agreement

Scott Morrison’s whirlwind trip to Indonesia is a “good thing”, his political opponent says, as Labor embraces bipartisan support for Australia’s latest free trade agreement. Morrison travelled to Indonesia for Joko Widodo’s second inauguration as president, with talks between the two leaders planned at the presidential palace. A top line discussion topic will be the Australia-Indonesia free trade agreement, which ... Read More »

Operail invests €50 million in freight transport in Finland

Estonian international transport and logistics company Operail has launched a subsidiary in Finland, Operail Finland Oy, and is investing €50 million to begin freight transportation on Finnish railroads. Chairman of the Operail Management Board, Raul Toomsalu, said it is vital for the company to find new services, products and markets. “With the decisions in previous years, we already foresaw the ... Read More »

Huge wage rises signal new phase in central Europe’s transformation

Thirty years after the fall of the Berlin Wall, the countries of central Europe are eager to move to a new phase in their remarkable transformation from communist basket cases to vibrant market economies fully integrated in to European business supply chains. Poland’s conservative prime minister last week said he wanted to “close the chapter” of cheap labour and low ... Read More »

POLL-Nordic economic growth to slow in 2020 as trade tensions bite

The Nordic economies of Sweden, Denmark and Norway are cooling off after years of expansion as global trade tensions mix with domestic factors to stifle investment, a Reuters poll found. The export-dependent region, home to companies like fashion retailer H&M, logistics giant Maersk and metals maker Norsk Hydro, has for decades benefited from the gradual globalisation of markets. But the ... Read More »

Textile industry hit by on-going trade war

Việt Nam’s textile industry faces many difficulties with both export and production on the decrease due to effects of an intensified China-US trade war, said industry experts. “Buyers are concerned with the on-going China-US trade war and it has resulted in fewer and smaller orders,” said a report by the Ministry of Investment and Planning. Vietnamese textile companies were being ... Read More »

EU Approves Greece’s Plan to Reduce Bad Loans

The European Commission approved on Thursday a Greek plan to reduce its bad loans at the country’s banks by up to 30 billion euros ($33.04 billion), saying that the proposal did not violate state aid rules. The plan, known as the “Hercules Asset Protection Scheme,” aims to bring down the amount of non-performing loans which are weighing down Greek banks, ... Read More »

Spanish government dismisses call for Catalan talks; police brace for more unrest

BARCELONA: Spain’s government dismissed calls on Saturday from Catalonia’s pro-independence regional chief for talks over a wave of violence sparked by the jailing of separatist leaders, as police braced for fresh protests. Barcelona saw its worst night of disturbances in decades on as masked youths blocked roads with blazing garbage bins and hurled rocks at security forces, who responded by ... Read More »

Hungary Must Invest to Demonstrate its Innovative Nature to the World

Palkovics made his now regular annual visit to the American Chamber of Commerce in Hungary on September 16, and spoke about the issues and plans Hungary has in the area of innovation. Having given an overview of the current macroeconomic situation, the minister moved on to the vision the ministry is focusing on right now: That Hungary will be one ... Read More »

No headway in optical fibre laying project

The government-initiated optical fibre laying project along the Mid-Hill Highway, which intended to develop an information superhighway in the country, has failed to make tangible progress even though the project was started more than three years ago. On different dates in 2016 and 2017, Nepal Telecommunications Authority (NTA) had awarded the contract to lay optical fibre along the Mid-Hill Highway ... Read More »

Kuwait sees neutral zone oil pact with Saudis within 45 days

Kuwait expects to sign an agreement with Saudi Arabia to restart oil production from the neutral zone along their border within 30 to 45 days, according to a person familiar with the matter. The pact, reached after months of intensive negotiations, won’t be final until it’s signed, the person said, asking not to be identified as the talks are private. ... Read More »

Iran Electricity Export to Iraq Hits Record

Iranian Energy Minister Reza Ardakanian (pictured) has said the export of electricity to neighboring countries has reached a record high in the past year. Addressing a Sunday session of Tehran’s City Council, Ardakanian said management of the situation over the past two water years has helped the country break the record in three sectors of the power industry. The minister ... Read More »