June 22, 2006
Turkey will discontinue a 15 percent withholding tax that was imposed on foreign investors in January. The change in policy brings the nation in line with European Union provisions on domicile and residence rules for the taxation of individuals, according to Turkey’s finance minister. The rule changes come at a time when the Istanbul equities market has dropped by more than 20 percent and the Turkish currency ...
Withholding tax on foreign investors dropped in Turkey
by Brian TurnerTurkey will discontinue a 15 percent withholding tax that was imposed on foreign investors in January. The change in policy brings the nation in line with European Union provisions on domicile and residence rules for the taxation of individuals, according to Turkey’s finance minister. The rule changes come at a time when the Istanbul equities market has dropped by more than 20 percent and the Turkish currency ...
June 21, 2006
The president of Venezuela has ordered that nation’s legislature and central bank to introduce new currency, to be named the “nuevo bolivar”, which would take three zeroes off the exchange value. Legislators say that this “monetary reform” is aimed at reducing inflation and making accounting easier. The bolivar currently trades at a fixed rate of 2,150 to the US dollar. The new currency is expected to be ...
Chavez calls Venezuelan currency reform effort to fight inflation
by Brian TurnerThe president of Venezuela has ordered that nation’s legislature and central bank to introduce new currency, to be named the “nuevo bolivar”, which would take three zeroes off the exchange value. Legislators say that this “monetary reform” is aimed at reducing inflation and making accounting easier. The bolivar currently trades at a fixed rate of 2,150 to the US dollar. The new currency is expected to be ...
June 13, 2006
Currencies in the emerging markets were generally down in relation to the US dollar on Tuesday. The Turkish lira hit a three-year low against the greenback as it declined by 2.8 percent to TL1.5962. The New Zealand dollar dropped 1 percent to the greenback, to $0.6223, while the Indonesian rupiah declined 0.8 percent to Rp9,485 to the dollar and the South Korean won lost 0.5 percent to Won961.3. Declining ...
Sell-offs hurt emerging currencies
by Brian TurnerCurrencies in the emerging markets were generally down in relation to the US dollar on Tuesday. The Turkish lira hit a three-year low against the greenback as it declined by 2.8 percent to TL1.5962. The New Zealand dollar dropped 1 percent to the greenback, to $0.6223, while the Indonesian rupiah declined 0.8 percent to Rp9,485 to the dollar and the South Korean won lost 0.5 percent to Won961.3. Declining ...
