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US-EU trade will undermine ’tax justice,’ says report
The secretive TTIP could make it easier than ever for big business to sue governments, according to new research.
Argentina agrees to pay Italian bond holders including “a reasonable interest”
Argentina announced that it reached a $900 million preliminary accord to settle its pending debt with 50,000 Italian holders of defaulted Argentine government bonds. The Italian bondholders had sought about $2.5 billion at the ICSID.
TTIP, tax havens contribute to extreme global inequality
TTIP perpetuate inequality because of their secrecy and preference for the interests of the wealthy over financial regulations and labor rights.
Government’s taxation decision can’t be contested under Bilateral Investment Treaty
The new Bilateral Investment Treaty will ensure that no decision taken by the government with regard to taxation matters is dragged into arbitration.
The gathering financial storm is just one effect of corporate power unbound
What have governments learned from the financial crisis? I could write a column spelling it out. Or I could do the same job with one word: nothing.
TISA parties plan four rounds by July 2016 to advance priority annexes
The participants in the Trade In Services Agreements (TISA) have agreed to hold four more rounds of negotiations between November and mid-July 2016
Leaked documents show TTIP negotiations in deadlock on most issues
EU member states are concerned about the “tough negotiation process in all key areas” of the TTIP agreement
Vietnam to lose $77 million of tax revenue each year due to free trade pacts
The government has estimated that it will lose around US$77 million of tax revenue annually between 2016 and 2025, when new free trade agreements take effect and eliminate a majority of import duties.
Cairn Energy set to go to ICJ against India
Cairn Energy is set to approach the International Court of Justice (ICJ), asking it to appoint an arbitrator on behalf of the Indian government in its $1.6 bn...
Will China’s currency devaluation complicate the Trans-Pacific Partnership?
China’s recent currency devaluation has sparked a debate over the inclusion of currency manipulation controls in global trade agreements.
WikiLeaks publishes four more TiSA documents
On 2 July, WikiLeaks publshed four more chapters from the secret ongoing TiSA (Trade in Services Agremeent) negotiations, ahead of the next negotiating round on Monday: Electronic Commerce, Telecommunications Services, Financial Services and Maritime Transport Services.
TiSA - draft annex on financial services (April 2015)
Leaked by Wikileaks
TiSA - draft annex on financial services (April 2014)
Leaked by Wikileaks
TiSA - draft annex on financial services (February 2015)
Leaked by Wikileaks
Sitharaman-EU trade commissioner meeting next week on FTA
India Commerce Minister Nirmala Sitharaman will meet her EU counterpart Cecila Malmstrom next week to take stock of the proposed FTA at political level, an EU envoy said, stating that taxation will not be part of the trade deal’s coverage.
Canada just threw a grenade into Elizabeth Warren’s trade fight with Obama
Last week, Canadian Finance Minister Joe Oliver gave a speech in New York arguing that the Volcker Rule — a key tenet of the US’ 2010 banking law — violates the North American Free Trade Agreement. This underscores Senator Warren’s warning that such deals, including the Trans-Pacific Partnership that Obama is currently negotiating, jeopardize financial reform.
First hearing opens over Lone Star asset sell-offs in Korea
An international tribunal began hearing a multi-billion dollar case Friday that the US private equity firm Lone Star filed against South Korea’s government over tax and other disputes surrounding its asset sell-offs in Korea.
Asean Economic Community launch will see rise in trade flows, but also more problems: OCBC chief
The launch of the Asean Economic Community this year will see an increase in trade flows, but also more problems such as money laundering and fraud, OCBC Bank chief executive Samuel Tsien said on Wednesday.
Insurers lead moves to include financial services in TTIP
Insurers from the US and EU are amongst leading backers of a financial services chapter within the Transatlantic Trade & Investment Partnership (TTIP), although the US remains opposed officially.
Draft bilateral investment pact keeps tax disputes, contracts out of arbitration
The finance ministry has drafted a fresh bilateral investment protection treaty that would keep taxation measures and issuance of compulsory licences for intellectual property rights out of the sphere of arbitration while preventing foreign investors to drag India to arbitration for any dispute that has already been settled by the courts.