Over a week ago, Indonesian president Joko Widodo announced that he would like to lower the country's corporate tax rate. In addition, he is considering a more drastic change of converting one of the nation's islands into a tax haven.
globalEDGE Blog - By Author: Michael Ronayne
Publish Date:
In 2012, the UK-based oil exploration company, Tullow Oil, discovered oil in Kenya's northwestern Turkana region. Over four years later, the country is now announcing its plans to go forward with the production of crude oil.
Publish Date:
The Bank of Japan announced a new stimulus plan last Friday. This new plan involves the annual purchasing of the equivalent of $58 billion USD worth of ETFs. This is an increase of approximately $26 billion from last year. The bank notably yields negative interest rates. However, those will not be affected in this new round of easing.
Publish Date:
The United States Justice Department has concluded that the Malaysian prime minister is linked to the billions of dollars embezzled from the 1MDB. This news comes a year after investigative journalists first uncovered the possible connection.
Publish Date:
Foreign interests in the American real estate market have dropped recently. A report released this week by the National Association of Realtors indicated that foreigners are buying U.S. residential real estate at the lowest levels since 2013.
Publish Date:
The Indian Prime Minister Narendra Modi recently announced a relaxation of India's rules regarding foreign ownership of businesses operating in the country. The announcement comes just days after the resignation of the chairman of the country's central bank and has been seen as an attempt at reassuring international markets.
Publish Date:
The recent resignation of Brazil's tourism minister is another sign that things are not looking good for the upcoming Summer Olympic Games in Rio de Janeiro, Brazil. From political corruption to a spreading virus, the Olympic Games are facing some serious challenges.
Publish Date:
We have already discussed some of the potential negative effects of the United Kingdom's withdrawal from the European Union, specifically on employment throughout the entire EU. The possible adverse consequences were highlighted again by the U.S. Federal Reserve chairwoman Janet Yellen and the Organization for Economic Co-operation and Development (OECD).
Publish Date:
China's Commerce Ministry is upset over a massive duties increase on imports of corrosion-resistant steel. The U.S. Commerce Department announced a duty of 450%, up from 256%, on flat-rolled steel. The steel in question is typically coated in zinc or aluminum to extend its useful life.
Publish Date:
Saudi Aramco, the state-owned oil company of Saudi Arabia, is increasing oil production in advance of its partial IPO. While global oil production has been decreasing, Saudi Arabia has decided to stop regulating production levels and dismissed the idea of stabilizing global supply and demand. The oil giant is preparing for its first public offering, offering about 5% of the company.
Publish Date:
Saudi Arabia has set a date for the opening of its stock market to foreign investors. The nation’s Capital Market Authority recently announced that the country’s only stock exchange, Tadawul, will allow direct international purchases of its market shares starting June 15 of this year.
Publish Date:
Crude oil is the traditional starting point for the many plastics that are essential to modern life. Approximately three percent of worldwide oil production is used to make plastics. Due to this relationship, the cost of plastic is closely tied to the price of oil. And since June, the price of oil has been cut in half, leading to a decrease in the price of new plastic.
Publish Date:
globalEDGE is a fantastic resource for discovering new information about the changing Caribbean business climate. Our CARICOM trade bloc section provides more details about the Caribbean Community. Upon visiting this section, you will find a brief history of the trade bloc as well as statistics and related agreements. Also, globalEDGE has compiled a list of external resources for those interested in exploring the Caribbean business area in greater depth. Some examples are listed below.
Publish Date:
India’s Finance Minister announced a new federal budget over the weekend. The budget emphasizes increasing growth and investment, while putting undesirable but necessary reforms on the back burner.
Publish Date:
It is no secret that China is the largest and one of the fastest growing economies in the world. Its enormous population and low labor rates are the reason thousands of American and European businesses have expanded operations or moved production to China. However, recent reports show that foreign companies in China are experiencing some speed bumps.
Publish Date:
Recent investments by U.S. companies into Indian-based startups are proof that there are innovative tech companies in places some companies may have never thought to look. Startups in emerging markets are increasingly catching the eyes of foreign investors. As of 2013, only 15% of India’s population had internet access. However, this is a number that has more than doubled since 2010. As India and other emerging economies become better connected from a digital perspective, more and more tech companies will emerge.