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CFI.co Meets Nuno Amado
A Determined Leader for Challenging Times. In February 2012, Nuno Amado was elected Chief Executive Officer of Portugal’s largest private bank, Millennium bcp (Banco Comercial Português). Since then, Mr Amado has led the bank through a complex and challenging restructuring
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Islamic Banking: London’s City Finds New Calling
In a bid to attract a new category of investors and to become a leading centre of Islamic finance, the City of London has assembled a task force to spread the word on Sharia-compliant banking. “The aim of our task
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World Bank Initiative for a Low Carbon Future
The World Bank has announced a new Low-Carbon Liveable Cities (LC2) Initiative to support developing country cities around the world in their efforts to plan low-carbon, climate-smart development and get finance flowing. The initiative – which aims to reach 300
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IPPC Report on Global Warming: Formidable Effort in Juggling with Fuzzy Numbers
In about 25 years the world will have used up its remaining “carbon credit” for the current century. Additional emissions will contribute to global warming beyond the tipping point of two degrees (C), the safety threshold used by most scientists
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CBI: Great Expectations on the UK High Street But Not Out of The Woods Yet
High-street sales continued to grow strongly in the year to September, at the fastest pace since June 2012, and exceeded already solid expectations, according to the CBI’s latest monthly Distributive Trades Survey of 111 firms. This was the third consecutive
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WTO Forecasts Gradual Recovery Despite Cut in Trade Forecasts
World trade growth in 2013 and 2014 is likely to be slower than previously forecast. WTO economists now predict 2013 growth of 2.5% (down from the 3.3% forecast in April) and 4.5% in 2014 (down from 5.0%), but they say
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Global Interconnections and Spillovers
Extracts from a Speech By Christine Lagarde, Managing Director, International Monetary Fund U.S. Chamber of Commerce, September 19, 2013 I. The Global Economy Today I recently returned from the G-20 Summit in St. Petersburg—where I know that the Chamber was
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European Commission Confirms Billions Lost in VAT Gap
An estimated €193 billion in VAT revenues (1.5% of GDP) was lost due to non-compliance or non-collection in 2011, according to a new study on the VAT Gap in Member States. The study was funded by Commission as part of
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The War on Tax Evasion: How a Good Pursuit Gets Ugly
At first glance, the showdown between the US government and the Swiss banks seems to have produced a satisfactory outcome: Tax dodgers can no longer park their undeclared monies in Switzerland without fear of discovery. Under a new bilateral deal,
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Barking Up the Wrong Tree in St. Petersburg: G20 Hijacked by Syria Conflict
The world leaders gathered today in St. Petersburg for the G20 summit were supposed to discuss the slowdown of global economic growth and ways to combat tax evasion. This agenda has now been largely supplanted by developments in Syria and
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