Vatican praises ‘ethical’ Sharia banking
Haitham Abdou, director of marketing and product strategy for the ITS group, the biggest supplier of Islamic banking solutions in the world, confessed he was shocked to read Pope Benedict praising Islam’s bankers in the pages of the official Vatican newspaper. However, Abdou said, the article convinced him that Islamic banking is now ready for […]
China shifts outbound investment focus
In China, FDI policy has shifted from inbound to outbound investment. Furthermore, outbound investment is migrating up the value chain from resources through knowledge-based industries. China’s huge financial resources provide a sound foundation which needs to be supplemented with information and tools to assist Chinese companies to make objective investment decisions. Everyone is aware of […]
New legislation strengthens tax
Brazilian transfer pricing legislation, in force since January 1997, has been changed to help businesses reduce the risk of tax contingencies; improve the management of its rules; reduce duplicate taxation; and optimise tax impacts through mechanisms of control of the strengths and weaknesses of the risks and opportunities related to it. This legislation stipulates […]
Gruma meets expansion targets
In 2011, GRUMA will likely face various challenges. Thanks to the company’s preparation – much as in previous years – its strategic business approach will allow it to move forward with great success. The Mexican multinational, with 93 plants strategically located to sell its products in 102 countries throughout America, Europe, Asia and Oceania, is […]
IB competition grows in MENA
Among MENA investment banks, Jadwa Investment stands out for achieving strong growth despite challenging market conditions. Launched in 2007, Jadwa has been profitable for each of the last three years, and has grown assets under management by 13 times, from less than $150m in June 2007 to more than $1.9bn in October 2010, at a […]
“The Concurso Mercantil Law is not effective”
Insolvency in Mexico has been seen like a maze, the seven-heads demon or the economy evil. Insolvency is an effect of financial distress situations, which, in turn, are the effect of economic mistakes or diseases, abuse or greed, whether from the government or private sector or both. At the end, insolvency, most of the time, […]
Power for a more sustainable future
Established in December 1978 as a state enterprise, Petroleum Authority of Thailand or PTT was formed to conduct petroleum and related businesses. Over two decades later, PTT Public Company Limited (“PTT Plc”) was registered as a company under the Corporatisation Act on October 1 2001 with a capital of 20bn baht ($673m). Currently, PTT Public […]
Italy unburdens cross border tax
In layman’s terms, transfer pricing is all about the price at which goods or services are sold between different companies within an international group of companies. It is important for the authorities to monitor a company’s setting of transfer prices as in some instances businesses can use the system to avoid taxation by manipulating transfer […]
Innovations for traders’ sake
Why all the fuss and bother about innovations in the forex industry? What innovations really matter now and can change the whole course of the market development? After decades of dramatic growth and maturing, foreign exchange trading has reached a new era. The start of the new millennium witnessed rapid technological development and with it […]
Master of the harbour
Henrik PoulsenAge: 43Education: M.Sc., Finance and Accounting, Aarhus School of Business, DenmarkCareer highlights:2008 President and CEO, TDC A/S 2007 Operating Executive, KKR Capstone2006 Executive Vice President, LEGO Group “The telecoms market has limited underlying growth and declining prices,” says Henrik Poulsen. “This is a challenge we share with most of our peers in the European […]
