Brazil: Annual income to be adjusted automatically by 4.5% for income tax assessment


The individual’s income will be automatically adjusted by 4.5% for one last time to provide for the inflation in Brazilian economy. The adjustment was first put in place in 2007 and was meant to be used until 2010 but it was further extended by the government till 2014 in the provisional measure 528. This taxContinue reading “Brazil: Annual income to be adjusted automatically by 4.5% for income tax assessment”

Australia: Opposition against the federal government’s scrapping of tax break


The federal government of Australia will roll back the tax break that was extended to small businesses from January 1 onwards. Earlier, the small businesses were allowed a $6,500 instant asset write-off which will now be brought down to $1,000 only. The news has been confirmed by Small Business Minister Bruce Billson’s office to whichContinue reading “Australia: Opposition against the federal government’s scrapping of tax break”

The Economist on “Gold Craze” in India


The Economist summed up the reason behind the gold craze of an Indian individual saying: “At the individual level, then, the gold craze makes sense. But in aggregate it is a disaster for India. Imports of bullion impose a massive strain on its balance of payments—amounting to $54 billion in the year to March 2013.”Continue reading “The Economist on “Gold Craze” in India”

US regains top spot in confidence survey on FDI, beats China


US regain top spot as the top executive’s choice for FDI after a gap of 12 years. The reason behind this win for US is considered to have been its recourse towards sustainable and stable economic development in comparison to China. The United States was on fourth place in the same survey conducted in 2012. TheContinue reading “US regains top spot in confidence survey on FDI, beats China”

Hezbollah’s leader in support of Syrian government against rebels


Militant group Hezbollah’s leader has lent support of his powerful movement to the government of Syrian President Bashar Assad and vowed to help the government in securing a victory against the Syrian rebels. Hassan Nasrallah considers the Syrian rebels as proxy warriors for the West and Israel. The current Nasrallah’s comments are looked at asContinue reading “Hezbollah’s leader in support of Syrian government against rebels”

US pushes China for stopping trade secret theft


The U.S. Trade Representative’s office has criticized China for not stopping the increasing theft of American trade secrets upon which the U.S economic might relies heavily. The incident is the latest addition in the incidents making Washington frustrated with China. “Not only are repeated thefts occurring inside China, but also outside of China for theContinue reading “US pushes China for stopping trade secret theft”

US GDP growth figures falls short of predictions, raises tensions for economic recovery


  Economic growth in US got back into some speed lately in the first quarter, but it was not as expected. This elevated tensions as an already weakening economy is showing positive signals to cope-up with deep government spending cuts and higher taxes. The Gross domestic product figures expanded at a 2.5 percent annual rate,Continue reading “US GDP growth figures falls short of predictions, raises tensions for economic recovery”

Imax and Paramount strengthen ties with new Five-Film deal


Imax and Paramount Pictures have strengthened business ties by entering into a pact to release five of the Hollywood studio’s upcoming films. The said movies are going to be including Michael Bay’s Transformers 4 in June 2014 and a co-production of Christopher Nolan’s Interstellar in November of the same year. Another three Paramount Pictures whichContinue reading “Imax and Paramount strengthen ties with new Five-Film deal”

Obama seeks to bring Republicans in negotiation mode on Budget, softens stance


The $3.778 trillion spending proposal of President Barack Obama for the next year features few measures to slow the spending growth on Social Security, Medicare etc., With a view to bring Senate Republicans to the table for negotiations. The White House administration has said that it is ready to accept any benefit changes only if theyContinue reading “Obama seeks to bring Republicans in negotiation mode on Budget, softens stance”

Bond Purchases to be raised by Bank of Japan as Kuroda takes over control


The newly appointed Governor Haruhiko Kuroda has begun initiatives to end 15 years of deflation by doubling the quantity of monthly bond purchases to reach 2 percent inflation within two years. As Kuroda presided over his first meeting since swearing in the office last month, the board today rationalized its asset purchase programs and temporarilyContinue reading “Bond Purchases to be raised by Bank of Japan as Kuroda takes over control”