The Committee on Economy and Royalties of the National Council or CER-N, a key panel of Swiss parliament which rejected on August 15 a proposal seeking to outrightly suspend implementation of the AEOI Switzerland has agreed to adopt with 41 nations including India, will examine the criteria a country would need to satisfy to start getting access to data under the automatic information exchange. According to the minutes of the last meeting of the committee, the CER-N will continue its examination at a meeting on September 11 of the 41 AEOIs agreed upon by the Federal Council, the highest decision making body of Swiss government.
Political uncertainty and what appears to be a "perennial confrontation" between Greece and its international creditors are the main reasons the debt-laden country has been unable to exit its protracted financial crisis, according to a study carried out by Greek lender Eurobank, local newspaper "Kathimerini" (Daily) reported on Thursday. The study, titled “The Cost of Uncertainty,” highlights the important role credibility plays in the implementation of economic policy, and this, the study says, is not something Greece has enjoyed in recent years.
As if you needed any more justification, the case for eating cheese just got stronger. Granted the study was carried out on worms, but researchers at Korea University in Seoul have found a link between cheese and longevity. Emmentaler – a.k.a. Swiss cheese (cow’s milk cheese with cherry-sized holes) – contains the bacterium Propionibacterium freudenreichii. According to Metro News, it’s this bacterium in particular that the scientists examined, finding that it decreases inflammation and by extension, promotes longevity.
Brexit is set to deliver a much-heralded jobs boom with over 80,000 new roles to be created in Frankfurt. A new report released by lobby group Frankfurt Main Finance found that the expected influx of 10,000 financial services staff over the next four years - fuelled by relocation plans and a banking exodus from London - will result in the creation of up to 87,667 new roles throughout the Rhein-Main-Region.
Days after a largely positive launch of the Galaxy Note 8, the head of Samsung has been sentenced to five years in jail. Lee Jae-Yong, who has been in charge of the company since his father suffered a heart attack in 2014, was found guilty of bribing the South Korean government. The heir to the empire has been embroiled in the scandal, which saw the impeachment of the country's president, since last year. His father remains in hospital, making Lee the de facto leader of the electronics giant.
Hackers have discovered that one of the most central elements of online security, the mobile phone number, is also one of the easiest to steal; and it's is an increasingly growing problem, the New York Times reports. In a growing number of online attacks, hackers have been calling up Verizon, T-Mobile U.S., Sprint and AT&T and asking them to transfer control of a victim’s phone number to a device under the control of the hackers. Once they get control of the phone number, they can reset the passwords on every account that uses the phone number as a security backup — as services like Google, Twitter and Facebook suggest.
China's iron ore futures rose on Friday and were on course to extend their winning streak to a ninth straight week, backed by firm steel consumption in the world's top user. China's infrastructure push, spurred by its public-private partnership (PPP) projects to lure private investment in infrastructure and public utility projects, has boosted steel demand this year, fattening margins at construction steel producers to the biggest in years.
Net migration to Britain has fallen to a three-year low as a growing number of European Union citizens have left the country following last year's Brexit referendum. Data released Thursday by the Office for National Statistics provides evidence that the uncertainty and economic jitters caused by Britain's vote to quit the EU are deterring immigrants and sparking a "Brexodus."
United States authorities on Thursday charged two managers at the French bank Société Générale with taking part in a scheme to manipulate a global benchmark interest rate known as Libor. As Reuters reported, Danielle Sindzingre, 54, the bank’s former global head of treasury, and her subordinate Muriel Bescond, 49, its former head of treasury in Paris, were accused in an indictment filed in a New York federal court of submitting false information about the rates at which the bank was able to borrow money.
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