Finance & Trade

U.K. Conservative MPs Vow to Leave EU

April 2, 2014

The Daily Mail reports that a group of over 100 U.K. Members of Parliament ("MPs") will pledge to their constituents that they will support leaving the EU following the 2015 general election, as Prime Minister David Cameron pushes for an "in-out" referendum in 2017 following renegotiation of powers with the bloc.

OIC Chief Gives Nod to Global Islamic Arbitration System for Politics and Finance

March 26, 2014

Speaking in Saudi Arabia at the Conference of the Islamic Arbitration Forum, the Secretary General of the Organization of Islamic Cooperation ("OIC"), Iyad Madani, indicated OIC support for the establishment of a global Islamic arbitration system to function for conflict resolution and financial dispute settlement.

EU Agreement Will Permit Regulator to Close Banks

March 26, 2014

The European Parliament and EU member states have agreed on the structure of a new resolution mechanism that will permit an EU authority to close failed banks without the approval of member states, unless the European Commission deems such approval necessary.

German Panel Seeks Tighter Restrictions on Benefits Seekers

March 26, 2014

Reuters reports that a panel established by the German Government to investigate the issue of benefits abuse by EU migrants is recommending that Germany give such migrants three months to find work, expel migrants who commit benefits fraud, and create stricter controls to limit benefits seeking.

EU Seeks to Force Luxembourg to Hand over Tax Data

March 26, 2014

The European Commission has issued an injunction demanding data from Luxembourg on its tax rulings from 2011 and 2012 and information about companies falling under its intellectual property tax laws, as the EU investigates corporate activities that seek to avoid taxes.

EU Will Take U.K. to Court over Benefits to Migrants

March 26, 2014

The European Commission has announced that it will bring a legal action against the U.K. before the European Court of Justice over the country's "right to reside" test, which requires EU migrants in the U.K. to prove they are seeking work before gaining access to government benefits.

U.K. Committee Proposes "Green Card" for EU Legislation

March 26, 2014

The EU Committee of the U.K. House of Lords is seeking a "green card" through which national governments could propose EU initiatives and has called for a strengthening of the current "yellow card" process to require EU authorities to "withdraw or substantially amend" laws at the behest of the member states.

EU Council Adopts Directive Requiring Investigation Cooperation

March 26, 2014

The European Council has adopted the "European Investigation Order" directive, which requires participating EU member states automatically to comply with a judicial order from another member state to obtain evidence in criminal and some administrative proceedings.

CIGI Calls for Greater IMF Focus on Economic Equality

March 26, 2014

The Centre for International Governance Innovation ("CIGI") has published a report noting the International Monetary Fund's ("IMF") expanding promotion of economic equality and wealth redistribution in Egypt, Morocco, and Tunisia and calling for the IMF to set targets and promote strategies to carry out this effort.

UAE-Egypt Financial Ties Signal Political Effort to Contain Spread of Muslim Brotherhood

March 21, 2014

The announcement of a multi-billion-dollar investment deal for a Dubai company to finance infrastructure in Egypt signals the growing effort by the Arabian Gulf monarchies to use economic leverage to contain the appeal of the Muslim Brotherhood ("MB") in Egypt and to contain the spread of the MB's influence in the Arab world.

Total Records: 502


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