Economics

Tag: Economics

Higher tax on deposits in Cyprus is legalized theft - opinion

The proposed bailout tax on bank accounts in Cyprus is "legalized theft," which contradicts international agreements and will be contested, Yury Pyanykh, says the president of the Association of Russian Businessmen in Cyprus.

15:45 25.03.2013

Russia, Cyprus in second day of gas for cash talks

Russia and Cyprus are set to launch a second day of talks in Moscow on Thursday over a multibillion-dollar loan to help the island nation avoid a financial collapse.

14:31 21.03.2013

Russia's ex-finance minister slams Cyprus deposit levy plans

Russia’s former finance minister, Alexei Kudrin, said on Tuesday that plans by Cyprus to force all savers to agree to a levy on their deposits ignored the interests of Russian investors.

16:42 19.03.2013

Chief investigator urges criminal responsibility for legal entities

Russia should introduce criminal liability for legal entities to return to Russia the funds that were siphoned off abroad illegally, Investigative Committee Chairman Alexander Bastrykin said.

10:48 19.03.2013

Cyprus banks cease operations, Russian investments at risk

The Central Bank of Cyprus has ordered all national banks to suspend operations at both domestic and foreign offices. The measure comes after EU finance ministers agreed on Saturday to tax deposits in Cyprus as part of the extraordinary 10 billion-euro ($13 billion) bailout.

09:33 18.03.2013

Over 700 complaints filed with Russian business commissioner since June 2012

Presidential Commissioner for Entrepreneurs' Rights Boris Titov has received upwards of 700 complaints since taking office in June 2012, he announced at a RIA Novosti press conference Tuesday.

16:58 12.03.2013

Russia seeks to unveil offshore ownership of key companies

The Russian government is in the process of drafting a bill that would force the owners of offshore companies to reveal their identities if their companies own objects or entities key to Russian infrastructure, security, and defense.

16:27 12.03.2013

300,000 self-employed Russians quit over tax hikes

Almost 300,000 self-employed Russians have quit business in Russia in the past three months due to social tax hikes, an Economics Ministry official said on Monday.

15:28 11.03.2013

Russia to lift restrictions on foreigners opening small businesses

The Russian government has approved amendments to the federal law on small and medium enterprises which will lift the restrictions on foreign nationals opening small and medium-sized businesses.

15:03 18.02.2013

Uzbekistan bans foreign currency trading

Uzbekistan has made trading with foreign currency a criminal offense, Uzbekistan’s Tax Committee warned on Tuesday, the latest in a string of measures apparently aimed at preventing the global market slump from eating into the Central Asian republic’s reserves.

17:10 05.02.2013

Kyrgyzstan aims to strip Canadian gold firm of tax status

Kyrgyzstan’s cash-strapped government wants to renegotiate its agreement with its largest foreign investor, Toronto-based Centerra Gold, and to end the company’s privileged tax agreement

10:52 29.01.2013

Bus drivers in Athens strike despite court ban

Buses and trollies remain idle for a third day straight in Athens, according to local trade unions.

15:38 28.01.2013

Russia publishes draft law on development of Arctic zone

A draft federal law on Russia's Arctic zone was published on Wednesday on the Regional Development Ministry's website. The ministry will serve as the coordinator and the authorized federal executive body responsible for the Arctic's development.

16:57 23.01.2013

Russian judiciary development program to cost $2.96 billion

An eight-year program aimed at developing the Russian judicial system costing 90 billion rubles ($2.96 billion) has been approved by the government, according to its press service. The program was put together by the Ministry of Economic Development and was approved by the government on December 20.

11:57 10.01.2013

Bill easing control over mergers and acquisitions heads to Parliament

Prime Minister Dmitry Medvedev has signed an executive order to submit a bill to the State Duma easing notification procedure for mergers and acquisitions.

12:10 27.12.2012

US slaps Bank of America with $1bln mortgage fraud suit

US federal prosecutors on Wednesday filed a $1 billion civil lawsuit against Bank of America, accusing America’s second largest bank of a “spectacularly brazen” scheme in which the bank allegedly churned out fraudulent mortgages and sold the loans to the government.

10:19 25.10.2012

Russia to join WTO on August 23

Russia will become a full member of the World Trade Organization on August 23. Russia will undertake all obligations under the agreement as a WTO member state.

13:01 24.07.2012