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European leaders will discuss how to combat aggressive tax avoidance by major companies such as Amazon, Google and Apple at a summit on Wednesday, and cut the estimated 1 trillion euros a year the EU loses to tax evasion or avoidance.


13:44, 22 May 2013 Wednesday

The international community needs to work together to stop large multinationals aggressively playing one country's tax code off against another, Ireland's Minister for Enterprise said on Wednesday.
Europe's energy price manipulation probe has turned regulatory attention to secretive trading units at oil companies with huge turnover and millionaire staff with risk appetite higher than at Wall Street's biggest banks.

Investigators found that the tech-company routed all of its sales through a number of subsidiary bodies, grouped under the name Apple Operations International and incorporated in Ireland
Most drivers blame the government for the fact that potholes and crumbling asphalt mean they either have to endure incessant jolts and regular damage by steering straight over them, or zig-zag around them, with perilous consequences.

British Prime Minister was speaking at a regular quarterly meeting of the government's business advisory group attended by Google's Executive Chairman Eric Schmidt at which corporate taxation was discussed.
Thousands of labourers at Arabtec, the emirate's largest construction company, hold second day of action over poor pay.

Secretary General of D-8 proposed Turkey to produce joint automobile.
The number of both companies that obtain halal certifications in the Balkans and their products grow between 30 and 40 percent yearly while their turnover is currently estimated at some 550 million euros ($708 million), Amir Sakic, head of an agency for halal certification in Sarajevo, said.

Zahra Shahid Hussain, senior member of he Pakistan Tehreek-e-Insaf party, killed in Karachi.
The U.S. Treasury Department said the Elaf Islamic Bank had to complete several steps to regain its access to the U.S. financial system

Islamabad has authorised the export of 100,000 tonnes of wheat to Iran in trade not jeopardised by Western sanctions, to settle dues for electricity
The link is viewed as a rival to Nabucco West and TAP, two pipeline projects vying to ship gas from Azerbaijan's huge Shaz Deniz gas field.

With imports picking up this year, traders estimate Syria has bought more than 220,000 tonnes of wheat from the global market since February.
The rising price of college tuition scares families and parents, but they can get discounts if they look

The numbers assume the world will grow on average 2.6 percent to 3 percent a year in the next two decades, while emerging economies will grow 4.8 to 5.6 percent a year.
China threatened to retaliate if the EU opens an investigation into alleged anti-competitive behaviour by Chinese mobile telecom equipment companies

United States had made it clear to both governments and the private sector that Washington will "apply our sanctions without fear or fail" against anyone violating the gold ban.
Switzerland may invoke a "safeguard clause", which allows temporary caps on work permits if the annual influx exceeds a certain number

The complaint applies to EU measures - used by Spain, Belgium, France, Italy and Poland - intended to promote renewable energy
The worst performing countries on the index also rely almost exclusively on natural resources as their main source of income, according to Revenue Watch


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