World economy

About half of all the foreign profits of U.S. multinationals are booked in tax havens with Ireland topping the charts as the favorite, according to a new economic study on Sept. 10.

New Democracy's shadow finance minister Apostolis Vesyropoulos said the Organisation for Economic Co-operation and Development's (OECD) 2018 report on tax policy reforms that shows Greece leading among its members in the increase of tax burdens in 2015-2016 is a "slap in the face" for the government.

Canadian craft brewers are facing a sudden aluminum can shortage and are blaming the supply disruptions on aluminum tariffs, making these small businesses among the first casualties of the Canada-U.S. trade spat.

Beijing warned on Aug. 3 it was prepared to impose new tariffs on $60 billion worth of U.S. goods if Washington ups the ante in the escalating U.S.-China trade war.

The Central Bank of Cyprus has just made it harder for brokers to set up front companies on the island, following pressure from US officials who say more needs to be done to combat money laundering.

U.S. trade groups and some large companies such as Boeing said on June 15 they were beginning to evaluate how new tariffs in the U.S.-China trade spat could affect their operations.

The biggest foreign investors in the Bulgarian economy are from the European Union, according to a statement made by the Minister of Economy Emil Karanikolov.
 
Foreign direct investment in the country for the period January - March 2018 amounted to EUR 179.1 million. For the same period in 2017 these foreign investments in the country amounted to EUR 950.1 million.
 

The inflow of foreign direct investment (FDI) last year reached its highest since 2008, amounting to $4.046 billion and recording a year-on-year rise of 31 percent on 2016's $3.069 billion, according to a report by the United Nations Conference on Trade and Development (UNCTAD).

Jump in the price of taxis. The industry insists that the tariffs increase by about 20%, or up to BGN 1 per kilometer during the day and BGN 1.13 overnight, NOVA points out.
 
The municipality, however, says that the daily tariff in Sofia should be an average of about BGN 0.95 per kilometer. At present, most companies are traveling at 0.70 to 0.90 leva per kilometer.
 

China announced on May 22 that it would cut tariffs on auto imports from July 1, the latest sign of a thaw in trade frictions with the United States.