In the Table below we have chosen to list the most important currencies in the world and their respective foreign exchange rates (indices) between them. We present their closed prices every Friday (end of week) and compare their performance both one week before and on the last day of the previous year. The following table …
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Magic Picture the Drastic Reduction in the Percentage of Bankrupt Businesses in the EU
The repeated economic shutdowns and social dimensions imposed on EU member countries during 2020, which will continue into the second half of 2021 and until 70% of their populations are vaccinated, have caused untold damage to millions of businesses (family, small and medium-sized and large) in the catering-hotel sectors, tourism, air transport, retail trade, etc. …
Is it Time for the Eurozone/EU to Issue A Perpetual Bond?
Global debt has reached 365% of world annual GDP, an amount close to $280trillion and surely no one should expect this amount to be repaid within the space of a century. The only solution that seems feasible now is its unstoppable per-financing, although in the long term this solution is not sustainable, since it has …
Corporate Exit Tax
The Corporate Income Tax Act (“CITA”) aim to transpose the rules for exit taxation, described in Art.5 of Council Directive 2016/1164 of the European Union (“ATAD”). Exit taxation applies when a legal person (company) transfers assets or activity or its tax headquarters outside or within another EU member-country. The term ‘asset transfer’ indicates the act …
Glossary Economics & Finance
The role of this glossary is to present brief definitions of most of the key concepts in economics and finance (in total 1064 names-definitions) as well as security markets (financial, capital, money) with aim the reader to be able to understand and become familiar with the terminology in the analyses that will present in the …
Innovation as a Leader in Economic Development and What Is Needed to be Successful
Innovation is commonly defined as the “carrying out of new combinations” that include “the introduction of new goods, … new methods of production, … the opening of new markets, … the conquest of new sources of supply … and the carrying out of a new organization of any industry”. (Wikipedia). So, when innovative ideas are …
The Adjustment of International Accounting Standards to External Factors Affecting Business
The main means of analysing a company’s financial situation is their published financial statements. through them, financial analysts and investors receive substantial and reliable information. The challenges that companies now face in compiling their published financial statements are several with particular emphasis on external factors such as a global financial crisis, a pandemic (e.g. Covid-19) …
The Nightmare in the Global Fare Market in VLCC ships
Last year (2020) due to the Covid-19 pandemic that swept the world, the VLCC (Very Large Crude Carriers-the longest ship ever built) with a capacity of more than 300000 tons dw offered record profits of $240,000 a day as demand was huge for oil supply and storage due to the low price of oil. VLCC …
The Development of an Economy Is Also Based on attracting Parent Multinational Companies and Holding Companies
Multinational companies operate in different countries around the world. That is why they have the option to choose from which country to make and monitor their investments. Their investments in foreign subsidiaries may be made either by the parent company of the group or through a holding company. What country the holding company will be …
DAC 6: The EU Council Directive 2011/16 to Enhance Transparency and How It Works
The EU has adopted Directive 2018/822 known as cross border-tax regulations, known as DAC6, which member countries are obliged to incorporate into their fiscal legislative framework. This Directive aims to enhance transparency and exchange of information between member countries on combating cross-border aggressive tax planning. by Thanos S. Chonthrogiannis ©The law of intellectual property is …