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People using tax havens have deprived governments worldwide of £100 billion in revenue, enough to end extreme poverty twice over, according to new figures published by Oxfam. The total amount of lost tax revenue is far higher than £100 billion, as the figure only includes tax dodged by individuals, and not companies.
For the first time since the litigation of hedge funds against Argentina the International Monetary Fund warned about the ‘risks’ which would entail ratifying Judge Thomas Griesa ruling condemning Argentina to pay over a billion dollars plus interests to the so called ‘vulture funds’.
Argentine authorities investigating alleged tax and currency exchange fraud searched this week the factory of a U.S. investor who is among litigants seeking hundreds of millions over Argentina's 2001 default.
Three former Ford Motor Co. executives have been charged with crimes against humanity in Argentina for allegedly targeting union workers for kidnapping and torture after the country's 1976 military coup.
Argentina's trade surplus shrank 38% in April from a year earlier to 1.15bn, revealed the national statistics institute Indec, indicating the government has significantly loosened restrictions on imports. A year ago the surplus was 1.85bn dollars.
Two suspects in the bombing of the AMIA Jewish centre in Buenos Aires are candidates in Iran’s presidential election. Mohsen Rezai and Ali Akbar Velayati, who are believed to have planned the 1994 attack, were among the eight candidates approved for the June 14 election by Iran’s Guardian Council to succeed Mahmoud Ahmadinejad.
Brazilian state-controlled energy giant Petrobras plans to continue operating in Argentina although it may sell some assets there, CEO Maria da Graças Foster said.
A Russian drifting Arctic research station is to be evacuated because the ice field around it is melting, the environment ministry in Moscow reports. The evacuation order plan to be drawn up within three days for North Pole 40 and its staff of 16 is already operational.
Argentina and Brazil will be launching their first two jointly developed scientific satellites for research along the Atlantic coast in a couple of years, according to Brazil’s Science and Technology minister Antonio Raupp.
Drug traffickers in Rio de Janeiro ordered shops closed in one of its biggest slums, defying efforts to restore order to the city's vast shantytowns and renewing safety concerns in Brazil as it prepares to host the World Cup and Olympics.