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Global tax deal leaves billion-dollar loopholes

Leaders of the world’s largest economies hailed a recent agreement to overhaul global corporate tax rules as key ensuring multinationals paid their fair share of tax. The October deal established…

Risks to global economic recovery

Countries are relying on effective immunizations to save lives and revive businesses. The World Bank’s projection for 4% growth this year depends on widespread deployment of vaccines. Surging Covid cases…

Global safe house for dirty money

Developing countries, including Pakistan, continue to be deprived of their legitimate earnings and assets, thanks largely to the legalized import of dirty money by the real estate in developed countries.…

Tackling corruption globally

Corruption is an unavoidable side-effect that a society necessarily suffers from when it practises a no-holds-barred free market economy along with electoral democracy. Civilised societies do succeed, to some extent,…

Global finance and corruption

The US has listed Afghanistan, India, and Pakistan as huge money-laundering jurisdictions in the Basel AML Index. The index ranks money laundering and terrorist financing risks around the world. George…

Global dynamics of CPEC

Of all the countries, India has the singular distinction of voicing concerns about the China Pakistan Economic Corridor and has been vocal since CPEC's very inception. The reason cited by…

Borrowing from global capital market

As an election year it is unlikely that expenditure curtailment or a mini-budget is on the cards and the Abbasi administration is considering meeting the resource shortfall of around 2…

The latest crisis of global capitalism

It’s always amazing how the stock market pulls big surprises on those who should know better. The momentous rise in share prices in the Shanghai stock exchange from mid-2014 to…

Tackling corruption at global level

In 2014, G20 countries adopted new High Level Principles on Beneficial Ownership Transparency in Brisbane, declaring "financial transparency, in particular the transparency of beneficial ownership of legal persons and arrangements…

Retrieving untaxed/ill-gotten assets — II

A breakthrough was made by media showing that investment in Dubai alone by Pakistanis during the past 10 years was in billions, yet instead of taking actions against the offenders,…