Category Archives: Spirituality & Money Gate

Latin America’s investment future depends on corruption-busting

Brazilian President Dilma Rousseff delivers a speech on May 8, 2015, at the Planalto Palace in BrasiliaCorruption across Latin America must be overcome or foreign investors could turn their backs on the region as it seeks to attract capital inflows, experts warn. The scourge of corruption has rocked leaders across the region, with Brazilian President Dilma Rousseff and Chilean counterpart Michelle Bachelet both embroiled by damaging graft scandals. Eduardo Leite, chairman of Baker & MacKenzie, the US-based legal giant, told a World Economic Forum on Latin America held here last week that state-owned institutions were becoming less alluring for investors. Chile has consistently been ranked as the least corrupt country in Latin America according to an annual index issued by the Transparency International graft watchdog.

China cuts interest rates for third time in six months as economy sputters

Zhou delivers a speech in BeijingBy Michael Martina and Judy Hua BEIJING (Reuters) – China cut interest rates for the third time in six months on Sunday in a bid to lower companies' borrowing costs and stoke a sputtering economy that is headed for its worst year in a quarter of a century. The People's Bank of China (PBOC) said on its website it was lowering its benchmark, one-year lending rate by 25 basis points to 5.1 percent from May 11. "China's economy is still facing relatively big downward pressure," the central bank said in a separate statement. "At the same time, the overall level of domestic prices remains low, and real interest rates are still higher than the historical average," it said.

Euro zone set to report solid growth, for a change

Inflated euro sign is seen outside the new headquarters of the European Central Bank (ECB) in FrankfurtBy Ross Finley LONDON (Reuters) – With optimism building that the United States is already recovering smartly from another horrible start to the year, focus will shift this week to reports that may show the euro zone is finally shaking off half a decade of torpor. The 19-member currency union has been a millstone around the global economy's neck ever since the financial crisis spawned a sovereign debt crisis particular to Europe. So it is all the more crucial for more than just its citizens suffering from years of high unemployment and feeble or no growth that Europe is able to pick up some of the slack.

Unpopular tax hands fresh ammo to Malaysia PM’s foes

A signboard notifies customers of the six-percent goods and services tax (GST) on consumer goods at a mall in Kuala Lumpur, May 9, 2015An unpopular new consumption tax has handed fresh ammunition to critics of Malaysia's embattled prime minister, with angry consumers complaining it has sent some prices surging, and economists warning it could harm growth. The government on April 1 introduced the six-percent Goods and Services Tax (GST), which taxes transactions throughout the business supply chain and replaces earlier sales and service taxes on end-consumers that ranged from 6 to 10 percent. The government had said the more streamlined tax regime would lead to lower prices for many key items and boost government revenue in Southeast Asia's third-largest economy. Experts agree Malaysia's biggest tax reform in decades is necessary — fewer than three million of the country's 30 million people pay income tax, and high government debt has economists worried.