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US Issues Annual IPR Country Report 5/3/2012 The Office of the United States Trade Representative has released its annual
‘Special 301 Report’ on the perceived adequacy and effectiveness of
US trading partners’ protection and enforcement of intellectual property
rights (IPR).
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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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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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IMF Urges Tax Reform In Kuwait 7/25/2011 The International Monetary Fund has just published the results of a recent visit to Kuwait, and in its document suggested that the Kuwaiti government puts tax reform at the top of its agenda.
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Jersey Continues Overseas Marketing Drive 1/21/2011 Jersey Finance – the promotional agency for the island’s
financial services industry – has announced the appointment of Sean Costello
as Head of Business Development for the Gulf Cooperation Council region
and India.
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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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Kuwait And Egypt Update DTA 1/6/2011 Kuwait and Egypt have signed a bilateral agreement on double taxation, which updates a previous agreement in force since May 2, 2006.
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MENA Tax Reforms Explored 12/15/2010 Middle Eastern and North African governments’ implementation of new tax regimes and expansion of commercial laws relating to inward investment were the topics under discussion at the Ernst and Young MENA Tax conference held this month in London.
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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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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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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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Kuwait Airways Set To Be Privatized 8/16/2010 The Kuwaiti government has announced this month that it is to push ahead with plans to privatize the
national airline Kuwait Airways.
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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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Hong Kong Signs DTAs With Kuwait, Hungary 5/17/2010 Hong Kong has signed agreements with Hungary and Kuwait for the avoidance of double
taxation, which also incorporate the internationally-agreed Organisation
for Economic Cooperation and Development standard on the exchange of tax information,
and represent the ninth and tenth such agreements it has completed.
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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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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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