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Bahrain Urged To Explore Long-Term Tax Reform 5/1/2012 Bahrain should look to introduce a corporate income tax or value-added tax to
stabilize the country's finances, the International Monetary Fund has said.
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Results Of Annual US Review Of Telecommunications Trade Agreements 4/10/2012 United States Trade Representative Ron Kirk has announced the results of
the 2012 annual review of the operation and effectiveness of telecommunications
trade agreements under Section 1377 of the Omnibus Trade and Competitiveness Act
of 1988.
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The Seychelles Adds Guernsey TIEA 1/3/2012 The Seychelles has noted the signing of a Tax Information Exchange Agreement with
Guernsey as a significant step in boosting bilateral relations between the two
territories.
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No New Taxes In 2012 For UAE 11/28/2011 A UAE Finance Ministry official has confirmed that the UAE will not impose any new taxes in 2012, with the implementation of a value-added tax across the Gulf Cooperation Council now not likely for at least two more years.
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Canada, Kuwait Sign FIPA 9/28/2011 Canada and Kuwait have inked a Foreign Investment Promotion and Protection Agreement, designed to promote bilateral trade and investment.
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Qatar Becoming A Financial Force To Be Reckoned With 9/29/2011 Qatar has kept its position of 30th place in the recently published Global Financial Centres Index, however it has risen 39 points to rank as the leading centre in the Middle East for the first time.
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Switzerland Tops WEF Competitiveness Index 9/9/2011 Switzerland tops the overall rankings in the Global Competitiveness Report for 2011-2012,
released on September 7 by the World Economic Forum.
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New Broker Dealer Approved In Bahrain 8/16/2011 The Bahrain Financial Exchange has announced that XO Bahrain has been approved by the Central Bank of Bahrain as a licensed broker dealer of the Exchange.
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London Tops Financial Centres League 3/24/2011 The latest Global Financial Centres Index, produced by the Z/Yen Group,
showed that London again came out on top, followed closely by New York and Hong Kong, although
confidence amongst financial services professionals seemed to have fallen in
the past six months, as is shown by lower overall ratings.
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Deloitte Finance Setting Up In Bahrain 3/17/2011 Deloitte in the Middle East has announced the opening of a branch of Deloitte Corporate Finance Limited in Bahrain. The branch will be licensed and regulated by the Central Bank of Bahrain.
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Isle Of Man Signs DTA With Bahrain 2/4/2011 The Isle of Man has announced the signing of its 22nd agreement which incorporates
provisions for the exchange of tax information, in the form of a double tax agreement
with Bahrain.
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Lamy Urges On Doha Participants 2/7/2011 The World Trade Organization’s Director General, Pascal Lamy, as chairperson
of the Trade Negotiations Committee, urged WTO ambassadors on February 2 to
engage in bilateral and small group discussions on resolving key obstacles to
a near-global multilateral free trade agreement, through the Doha Round.
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Malaysia, GCC Move Towards FTA 1/20/2011 It has been disclosed that the framework for a free trade agreement between
Malaysia and the Gulf Cooperation Council has been completed.
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Dow Jones Indexes Licensed To BFX 11/11/2010 Dow Jones Indexes has announced that the Bahrain Financial Exchange, the first multi-asset exchange in the Middle East and North Africa region, has signed a licensing agreement to issue financial products based on five regional Dow Jones index products.
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GCC Customs Revenue Sharing Agreement Near 11/10/2010 Gulf Cooperation Council countries are nearing an agreement on the terms for a
regional customs union that would establish a free trade zone within the six-party
bloc with harmonized tariffs of 5% on imported goods.
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Mexico, Bahrain Sign Tax Treaty 10/18/2010 The secretary of the Mexican treasury, Ernesto Cordero Arroyo and secretary of finance for Bahrain, Shaikh Ahmed bin Mohammed Al Khalifa, have signed a double taxation treaty in Washington DC.
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Bahrain, Malaysia Sign TIE Protocol 10/19/2010 The Kingdom of Bahrain’s Finance Minister, Shaikh Ahmed bin Mohammed Al
Khalifa, and the Malaysian Ambassador to Bahrain, Dato' Syed Sultan Idris, have
signed a protocol to the existing double taxation treaty between their respective
governments.
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Jersey Ranked As Top Offshore Centre 9/24/2010 London has maintained its place as the leading financial center globally, according
to the Z/Yen biannual qualitative survey. Meanwhile, Jersey maintains its place as the top offshore financial
center.
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Switzerland Tops Competitiveness League 9/13/2010 Switzerland has claimed top spot in The Global Competitiveness Report 2010-2011,
as released by the World Economic Forum on September 9. In the rankings, the United
States has fallen two places to fourth position, overtaken by Sweden (2nd) and
Singapore (3rd), after already ceding the top place to Switzerland last year.
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GCC Customs Union Delayed Again 9/13/2010 The Gulf Cooperation Council countries have, in a recent meeting, failed to agree
on various issues holding back the establishment of a unified customs union,
discussions for which have been ongoing since 2003.
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Tax Concerns Included in Moody's Bahrain Downgrade 8/24/2010 Bahrain’s long-term issuer rating has been downgraded by Moody’s,
the credit ratings agency, from ‘A2’ to ‘A3’, partly due
a perceived inability to raise additional tax revenues, if necessary in the future.
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Shariah-Compliant World Fund Launched In Guernsey 8/19/2010 Investment manager Argyll Investment Services Limited has launched ‘the
World Shariah Funds PCC Limited’, a Guernsey-based suite of Islamic-compliant
investments which is to be listed on the Channel Islands Stock Exchange
and distributed globally.
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Bermuda, Bahrain Explore Economic Synergies 7/5/2010 Bermuda and Bahrain have agreed to work together to develop a multi-faceted relationship
and to explore numerous opportunities covering investment, insurance and re-insurance,
following the signing, earlier this year, of a convention for the avoidance of
double tax and fiscal evasion, Bermuda Finance Minister Paula Cox has announced.
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Malaysia To Progress FTA With GCC 6/4/2010 Malaysia’s Deputy International Trade and Industry Minister, Datuk Mukhriz
Mahathir, has disclosed that Malaysia is to work on the framework for a free trade
agreement with the Gulf Cooperation Council.
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MENA Insurers Urged To Strengthen Corporate Governance 6/2/2010 The United Arab Emirates Minister for the Economy, Sultan Bin Saeed Al Mansoori,
has called on the insurance and financial sector to push forward with the adoption
of modern corporate governance and transparency measures to ensure the Middle
East and North Africa insurance industry realises its ‘vast potential
for growth’.
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Malaysia And GCC Still In FTA Talks 5/3/2010 The Malaysian Ambassador to the United Arab Emirates, Datuk Yahaya Abdul Jabar,
has confirmed that Malaysia and the Gulf Cooperation Council are continuing
their negotiations for a Malaysia-GCC free trade agreement.
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Bahrain, Seychelles Sign DTA 4/27/2010 During a recent visit to the United States, Bahrain’s Minister of Finance,
Shaikh Ahmed bin Mohammed Al Khalifa, and the Seychelles' Minister of Finance,
Danny Faure, signed an agreement for the avoidance of double taxation between
their respective countries.
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Bahrain, Bermuda Sign DTA 4/26/2010 On April 22, in Washington, D.C., Bahrain and Bermuda signed an avoidance of double taxation agreement, which also includes provision
for the full exchange of information on criminal and civil tax matters consistent
with the internationally agreed standard set by the Organization for Economic
Cooperation and Development.
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Bahrain, Malta Sign DTA 4/13/2010 Bahrain’s Minister of Finance, Shaikh Ahmed bin Mohammed Al Khalifa, and
Malta’s Minister of Finance, Economy and Investment, Tonio Fenech, have
signed a double taxation agreement between their two countries.
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GCC VAT Uncertain 4/8/2010 Countries of the Gulf Cooperation Council could have a regional value-added tax in place as early as 2012 according to an expert advising the United Arab Emirates government, although this target date is looking increasingly unlikely to be achieved with some member states making faster progress than others in preparing for the tax.
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Bahrain And UK Sign DTA 3/11/2010 The Kingdom of Bahrain’s Minister of Finance, Shaikh Ahmed bin Mohammed
Al Khalifa, and UK ambassador, Jamie Bowden, signed
a comprehensive double taxation agreement between the two countries in Manama
on March 10.
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