Total tax revenue collected by the Inland Revenue Department during the first ten months of 2009 fell by 15% to EUR 1.45 bln from EUR 1.72 bln a year ago in the same period for a EUR 261.71 mln deterioration, mainly as a result of a 79% plunge in tax from capital gains imposed on
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Governments may take up to seven years to sell stakes in banks bailed out during the financial crisis, due to complexity of rescue deals and an unattractive disposal environment, PricewaterhouseCoopers said on Thursday. Any hopes of a swift government exit are misplaced, accountant PwC said, citing the experience of bailing out banks in countries such
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Japan's Nikkei share average fell 0.7 percent on Thursday with shipping firm Nippon Yusen falling on dilution worries related to its capital-raising plan, while Honda and other carmakers rose after a positive brokerage report. FamilyMart Co, Japan's third-largest convenience store operator, rose 1.6 percent after a source familiar with the matter said the company was
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Gold rose above $1,120 an ounce to a fresh record high on Thursday as the U.S. dollar wavered near 15-month lows, while Asian shares lost ground as investors took profits after four days of gains. Financial spreadbetters expected British and French shares to follow Asian markets lower but saw a higher opening for Germany's DAX
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Treasury Secretary Timothy Geithner said on Wednesday he believes strongly in the need to maintain a strong dollar and said the United States was determined to get its budget deficit down. The dollar's decline has been a source of concern in the export-heavy region, especially since top exporter China keeps its currency's value closely managed
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Cypriots gave a guarded response to Britain's offer to hand back half its remaining three percent of Cyprus's landmass if rival sides on the ethnically split island reach a peace deal. Former colonial power Britain on Tuesday offered to give up the two pockets of militarily strategic, prime undeveloped real estate in the south of
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Oil firmed above $79 on Wednesday as a 15 month low in the dollar diverted investors' focus from fundamentals, with weekly U.S. government inventory data being delayed by one day to Thursday. Analysts said strong Chinese oil demand and factory output also supported the market but the gain was capped by weak demand elsewhere and
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The dollar hit a fresh 15-month low and world stocks held near a three-week high on Wednesday after remarks from Federal Reserve officials reinforced the view that U.S. interest rates will remain near zero for some time. Gold, boosted by the falling dollar, rose to record highs above $1,115 an ounce, and Wall Street looked
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China will refer to changes in capital flows and fluctuations in the values of major currencies when guiding the value of the yuan, the central bank said on Wednesday, in a departure from past language. The reference to a new set of benchmarks for determining the value of the yuan holds out the possibility of
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The dollar hit a fresh 15-month low and world stocks held near a three-week high on Wednesday after remarks from Federal Reserve officials reinforced the view that U.S. interest rates will remain near zero for some time. Strong Chinese data on factory output and retail sales, along with forecast-beating results from Italy's biggest bank Unicredit
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