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Macro economics

International Business

"IFCs need ‘unified voice’"

International financial centres will not survive unless they join forces to create a united body to articulate the benefits they provide the global economy. That is the view of Professor Gilbert Norris, who gave an outspoken and entertaining speech o...
May 17, 2011
International Business

"Task force: new ways needed to bring in more asset business"

A group of experts brought together to examine opportunities for growth in Bermuda’s asset management industry has suggested that Government may need to consider new ways to attract more of this type of business to the Island, including adding additi...
May 16, 2011
Economy

"Inflation drops to 2.5%"

Inflation hit 2.5 percent in March 2011, driven by the rising cost of healthcare, according to the latest figures released by Government. The rate of inflation which dropped from the 3.2 percent rate measured in February compares to a 2.3 percent inc...
May 10, 2011
Other

"Health care costs biggest factor in inflation rate"

Inflation stood at 2.5 percent in March - down from 3.2 percent the previous month, according to figures released by Government this afternoon. The health and personal care sector - which includes the cost of doctor’s visits, health insurance, prescr...
May 09, 2011
Economy

"Ireland to seek concessions on $119b EU bailout terms"

DUBLIN (Reuters) - Ireland’s government is watching to see what concessions it can win on its EU-IMF bailout if Greece is given a new deal to resolve its worsening debt crisis, a senior government minister said yesterday. “The thing I am interested i...
May 09, 2011
Economy

"Osborne: Greece may need extra eurozone funds"

LONDON (Bloomberg) - UK Chancellor of the Exchequer George Osborne said European Union finance ministers may recommend additional euro-region funding for Greece. A Greek default is not inevitable, and there were no suggestions in private or public th...
May 09, 2011
Economy

"Portugal revises debt figure upwards again"

LISBON, Portugal (AP) Portugal has for a second time revised upward the debt-stressed country’s budget deficit last year, releasing official figures that said it was 9.1 percent of gross domestic product instead of the previously announced 8.6 percen...
Apr 26, 2011
Other

"Retail sales slump yet again"

Retail sales suffered yet another slump in February, according to statistics released this morning. The retail sales index showed that gross sales revenue from local retailers fell 5.8 percent to an estimated $70.3 million in February with retailers ...
Apr 20, 2011
International Business

"US firms pay sixth highest tax rate in world"

WASHINGTON (Bloomberg) US companies face the sixth-highest effective tax rate in the world, according to a study by PricewaterhouseCoopers LLP. The tax rate for the largest US companies between 2006 and 2009 was 27.7 percent, compared with a non-US a...
Apr 15, 2011
International Business

"GE hoax story makes a point for taxation pressure group"

NEW YORK (Bloomberg) US Uncut, a group protesting corporate tax issues and government service cutbacks, claimed responsibility for a fake press release that said General Electric Co would return a “$3.2 billion tax refund”. The release, which was pic...
Apr 15, 2011
International Business

"Glencore plans $11b flotation"

GENEVA (AP) Privately held commodities trader Glencore International plans to float part of its stock for up to $11 billion next month, making it one of the largest public share offerings in recent years. Dubbed “the biggest company you’ve never hear...
Apr 15, 2011
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