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Azerbaijan, Russia sign documents on customs cooperation

MOSCOW: Customs authorities of Azerbaijan and Russia have signed documents aimed at developing the bilateral cooperation. The documents were inked by chairman of the State Customs Committee of Azerbaijan Aydin Aliyev and head of the Federal Customs Service of Russia Andrei Belyaninov. Prior to the signing ceremony, the sides hailed political, economic and cultural relations between the two countries, and ... Read More »

JM signs agreement to sell Science 14 property in Brussels

BRUSSELS: JM has signed an agreement to sell its Science 14 property in Brussels. Access and payment will take place in June 2015. The capital gain on the sale amounts to SEK 9 m and will be reported in Q2 2015 under the JM International business segment. JM is one of the leading developers of housing and residential areas in ... Read More »

India sees a sign of pickup in bank credit demand for working capital

INDIA: State Bank of India’s chairwoman Arundhati Bhattacharya has said there are signs of pickup in bank credit and demand for working capital from corporate has also started to rise.”We are seeing green shoots in the credit cycle. We are seeing some Brownfield projects coming in. There are a few new projects in the renewable energy segment but not too ... Read More »

Switzerland, Oman Sign DTA, fixes maximum dividend 15% at source

BERN: Switzerland and Oman have signed a new double tax agreement (DTA) that sets withholding tax rates for dividends, interest, and royalty income. Under the DTA, dividends will be taxed at a maximum rate of 15 percent at source. Dividend payments from significant holdings will be subject to a five percent rate in the source state. Dividend payments to pension ... Read More »

EU, Switzerland sign tax transparency deal

BERN: The European Union (EU) and Switzerland will automatically exchange information on the financial accounts of each other’s residents from 2018, under a new tax transparency agreement signed on May 27. The agreement was signed by EU Tax Commissioner Pierre Moscovici, Latvian Finance Minister Janis Reirs (on behalf of the Latvian Presidency of the EU Council), and Jacques de Watteveille, ... Read More »

Arab Fund, Jordan sign agreement worth of KD16m

AMMAN: The Kuwait-based Arab Fund for Economic and Social Development, AFESD, and Samra Electric Power Company in Jordan, SEPCO, and last night signed an agreement to finance the seventh phase of SEPCO’s power expansion project. According to Kuwait News Agency, KUNA, the agreement was signed by the Jordanian Minister of Finance, Umayya Toukan, and AFESD’s Chairman, Abdullateef Al-Hamad.  As per ... Read More »

Greece to sign pipeline deal worth of €5b with Russia in next week

ATHENS: Greece is planning to sign an energy agreement with Russia early next week for Turksih stream gas pipeline via Greece. The agreement can bring from €3 to €5 to the Greece which will help the country. The funds will be received in a form of advance payment for the construction of the pipeline. The agreement may be signed on ... Read More »

Greece, Russia sign trade deal of €4.2b, discuss natural gas supply

ATHENS: Greece and Russia have signed a trade deal of €4.2 billion and discussed the renewal of the deal for natural gas supply to Greece. After the discussions between the two delegations, Greece Prime Minister Alexis Tsipras and Russian President Vladimir Putin talked to the press. Tsipras stated that his visit to Moscow aims at the renewal of Greece-Russian relations. ... Read More »

Cyprus signs double taxation accord with Iceland

NICOSIA: Cyprus and Iceland signed a double tax agreement that would apply to taxes withheld at source that are paid or credited and for other taxes in respect of taxable years beginning after that date. The agreement – the first between the two countries – is based on the Organisation for Economic Cooperation and Development (OECD) Model Convention for the ... Read More »