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Google pumps $19 billion through tax optimization scheme in 2016

Published time: 3 Jan, 2018 11:24 Google’s tax optimization scheme moved 7 percent more money in 2016 than it did during the previous year, according to a Dutch regulator. The scheme saved the US tech giant at least $ 3.7 billion in taxes. The company uses subsidiaries in Ireland, Singapore and the Netherlands to shield most of its international profits ...

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China aims to become world’s leading cyber power by 2035

Published time: 3 Jan, 2018 07:53 The world’s second-largest economy, China, is poised for breakthroughs in cyberspace, says the country’s Ministry of Industry and Information Technology (MIIT). Beijing wants to be in the forefront of the booming digital economy. “China will endeavor to basically build itself into a strong cyber power by 2035 to join the world’s top rank in ...

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Few hundred bitcoin whales can send cryptocurrency market crashing down

Bitcoin investors definitely have reason to worry, as nearly 40 percent of all bitcoins are in the hands of just 1,000 investors. Together, they can tank or prop up the market with a click of a mouse. Holders of significant amounts of bitcoin, known as whales, may want to sell about half of their digital funds, according to the former ...

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New Russia-China pipeline doubles Beijing’s oil import capacity

Published time: 2 Jan, 2018 19:39 Edited time: 2 Jan, 2018 19:40 Russia has doubled its crude oil export capacity to China as a result of a new pipeline, cementing its position as the number one supplier of crude to its eastern neighbor. The new section of the Eastern Siberia–Pacific Ocean (ESPO) pipeline began operations Monday, China’s state-run Xinhua news ...

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Bitcoin losing its dominance in cryptocurrency market

Published time: 2 Jan, 2018 12:43 Six years ago bitcoin was the only cryptocurrency people talked about. Now, there are almost 1,400 of them. While remaining the locomotive of digital money, bitcoin has been gradually losing its preeminence in the market. Bitcoin had a very good year. In addition to appreciating by more than 1,300 percent, it is now trading ...

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France wants to build trade ‘backbone’ from Europe to Beijing via Moscow – report

The French economy and finance minister has said that France is moving toward a period of rebalancing, aiming to create a trade ‘backbone’ with Beijing via Russia. Bruno Le Maire made the statement in an interview with the Wall Street Journal, given in December, during the minister’s visit to Moscow. “We are moving from a world dominated by very exclusive ...

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Nearly a quarter of world’s bitcoins may be lost forever

Published time: 2 Jan, 2018 05:36 Missing out on bitcoin’s wild rally may not be the worst thing in the world. You could be sitting on a fortune unable to access it. Data shows up to 23 percent of bitcoins currently in circulation may be lost forever. Read more It is impossible to say exactly how many bitcoins are being ...

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Saudi Arabia, UAE introduce VAT to help balance the budget

Published time: 1 Jan, 2018 17:50 Saudi Arabia and the United Arab Emirates have introduced a five percent value-added tax (VAT) on many goods and services in an attempt to raise budget revenues amid a global slump in oil prices. The two Gulf countries had long prided themselves on being minimum tax havens fueled by energy export, but the downturn ...

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Bitcoin investors will crawl back to gold when crypto-craze uncertainty creeps in

Published time: 1 Jan, 2018 11:21 The hype around digital currencies like bitcoin may have stolen a chunk of the demand for gold, but the precious metal has proven itself a liquid and efficient investment, according to Agnico Eagle Mines CEO Sean Boyd. “I actually think you can build a much stronger case for gold in an environment where bitcoin ...

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China & Russia to crash bitcoin & trade oil in yuan: Saxo Bank's ‘outrageous’ predictions for 2018

Published time: 1 Jan, 2018 05:48 Danish Saxo Bank is famous for making ‘outrageous’ predictions for the year ahead. This year, the bank predicts Russia and China will crack down on bitcoin and ditch the US dollar from oil trading. Bitcoin collapse The bank predicts that next year bitcoin will triple in value to $ 60,000 with a market capitalization ...

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