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finance | banking | taxes


How capitalism and other viruses are ravaging the Global South
The economic hegemony exerted by the trade regime — and related financial structures — mirrors and extends old colonial patterns of exploitation and dispossession. Its policies represent our “normal.”
Cashing in on the pandemic: How lawyers are preparing to sue states over COVID-19 measures
As governments take action to fight the COVID-19 pandemic and prevent economic collapse, they could face multi-million dollar lawsuits.
UK puts banking at heart of objectives for Japan trade deal
The UK has put financial services access at the center of its objectives for a trade deal with Japan.
Axiata unit pays US$185mil outstanding tax
Axiata said the payment was made under protest and will seek remedies including restitution of sums already paid in the international arbitration proceedings.
Could COVID-19 emergency measures give rise to investment claims? First reflections from Italy
Emergency measures to prevent the spread of the coronavirus and protect the economy could lead to claims under bilateral investment treaties.
Cerro Verde to open ICSID case against Peru
Cerro Verde, a partnership between Freeport McMoran and Buenaventura, is to bring a case against Peru related to a taxation dispute at the ICSID under a US-Peru trade agreement.
UK eyes speedy banking deal with US in parallel trade talks
The UK and US may seek a quick deal on financial services separate from the free trade accord the two are negotiating, a British official said.
Arbitration case law update: Supreme Court lifts stay on enforcement of ICSID award: the Micula saga continues
This is far from the end of the Micula story. Enforcement proceedings continue in the United States, France, Belgium, Luxembourg and Sweden, and there are questions before the CJEU.
Vodafone, Cairn eligible for settling disputes under tax amnesty scheme
Vodafone’s dispute relates to its $11 billion acquisition of a 67% stake in the mobile-phone business owned by Hutchison Whampoa. Cairn Energy is contesting a big tax bill that Indian government raised for a 2006 transaction.
Britain wants Canada-style trade deal with EU - minister
Britain wants a Canada-style agreement with the European Union that includes goods and services.
Oil major settles huge capital gains tax bill to Vietnam after Finance Uncovered investigation
When Vietnam signalled it would claim the tax due, oil giant ConocoPhillips issued a pre-emptive legal strike using an arbitration process under the UK-Vietnam bilateral investment treaty.
Telenor hopes to settle GP audit claim without int’l arbitration
Now that the February 23 deadline for the court directive to pay Tk2,000 crore audit dues to the telecom regulator looms, Telenor hopes that the ongoing audit dispute can be settled without resorting to international arbitration.
Ncell backed by international tribunal in Nepal tax row
The ICSID has issued an interim order preventing Nepal’s government from collecting capital gains tax on Axiata’s acquisition of Ncell.
Ncell pays Rs 4.5 billion of its total CGT dues
The ICSID had issued an interim order directing the government not to take any steps to enforce its decision to collect the outstanding capital gains tax.
Govt told not to collect CGT from Ncell
A US-based international court issues interim order directing the Nepal government not to impose capital gains tax on Ncell buyout deal for the time being.
Arbitration tribunal delays award in ₹10,247-cr Cairn retro tax case to mid-2020
The tax department had sought ₹10,247 crore in taxes on alleged capital gains made by the company in the internal reorganisation
Japan braces for US pressure on services in next trade talks
The Office of the US Trade Representative released late last year a summary of negotiating objectives spanning 22 areas, including telecommunications and financial services.
Barrick Gold reaches deal with Tanzania over Acacia Mining
Barrick Gold Corp said it had reached a deal to settle a long-running tax dispute between Tanzania and mining group Acacia.
Argentina and other states adopt currency restrictions, raising potential investment treaty claims
Argentina introduced a number of new restrictions on foreign currency transactions, reversing its four-year-old policy that had eliminated such controls, which may give rise to investment treaty claims by foreign investors.
City of London representatives head to US to promote post-Brexit finance ties
Representatives from the City of London are to travel to the US in a bid to boost transatlantic ties for the finance sector post-Brexit.