...MCG Consulting Group | Icesave Dispute: Settlement Proposal to Oddný G. Harðardóttir | International Business MGCR 382- 001 Fall 2012 | | Contents Executive Summary 3 Description of the Icesave Case 4 Overview of the unsustainable growth and collapse of the Icelandic financial sector in 2008 4 The Collapse of Icesave (Iceland’s Landsbanki) 5 Attempts of agreements and Icelandic referendums 6 Ruling: European Free Trade Association v. Iceland – EFTA Court Case E-16/11 References 8 The proposal from MCG Group (MCG) 9 Economic benefits and arguments 12 Legal aspect of the Icesave dispute 14 Appendix A 17 Bibliography 18 Executive Summary Objective MCG Consulting Group is a consulting firm specialized in banking. MCG’s goal is to provide effective solutions for multifaceted issues by researching all avenues of a problem and ensuring to always have supporting evidence for given proposals. The following paper is an examination of the current Icesave loan conflict followed by a proposal which MCG believes takes all stake holders into consideration. Important Acronyms EEA (European Economic Area), EU (European Union), EFTA (European Free Trade Association), ECJ (European Court of Justice), Research Methods * Review of the history of the crisis including previous agreement attempts and referendums...
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...trade and investment liberalization by reducing trade barriers, business facilitation thanks to business transactions cost reduction and finally increase economic and technical collaboration between countries. Then in 1995 South Korea became a member of WTO (World Trade Organization) which intend to supervise international trade. It provides a framework for negotiating and formalizing trade agreements The year after the country became a member of OECD (composed by 34 nearly all developed countries) which provides each country members tools to monitor and analyze their economic policies. As an example, in 2012 during the OECD's Ministerial Council Meeting, held in Paris, The Republic of Korea participated to the adoption of policies regarding international growth and employment. This means South Korea decided to increase its globalization and overall competitiveness of its economy. Since the creation of the Free Trade Area Roadmap (2002-2003), Republic of Korea has vigorously pursued collaborations with its most important partners. Up to now, FTA (Free Trade Agreement) were signed with India, Peru, Singapore, Chile, ASEAN, European Union, United States and EFTA (European Free Trade Association) which is an intergovernmental organization composed by Iceland, Liechtenstein, Norway and Switzerland. We will focus on FTA signed with European Union, EFTA and ASEAN (which is also called AKFTA). South Korea and EFTA signed a free trade agreement in Hong-Kong 2005 which entered into...
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...The economic impact of EU membership on the UK This note examines the various channels through which membership of the EU affects the UK economy. A general sense of the EU’s economic impact can be gained by reading Section 1 alone. Subsequent sections deal with particular issues, such as the EU’s effect on UK trade relations, in more detail, and compare the UK’s situation with alternative arrangements. Contents 1 Introduction and summary 2 2 Cost-benefit analyses of EU membership 5 3 The effect of the EU on UK trade relations 6 4 Impact of immigration from the EU 16 5 The impact of EU regulation 20 6 Fiscal consequences of EU membership – the EU budget 23 7 The EU’s effect on consumer prices 28 8 Foreign direct investment (FDI) 30 Appendix table: a comparison of the EU with alternative trading arrangements 32 Boxes Would independence over trade policy lead to better results? 15 The EU budget – winners and losers 27 Trade barriers and economic efficiency 29 Related Library briefings Leaving the EU, Research Paper RP13/42 In brief: UK-EU economic relations, Standard Note SN6091 Norway’s relationship with the EU, Standard Note SN6522 Switzerland’s relationship with the EU, Standard Note SN6090 The UK and Europe: time for a new relationship?, Standard Note SN6393 1 Introduction and summary 1.1 Understanding the economic impact of EU membership EU membership...
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...Global Business Management Foreign Direct Investment Terms to Know: 1. Foreign Direct Investment An investment made by a company or entity based in one country, into a company or entity based in another country. Foreign direct investments differ substantially from indirect investments such as portfolio flows, wherein overseas institutions invest in equities listed on a nation's stock exchange. 2. Greenfield Investments Refers where a parent company starts a new venture in a foreign country by constructing new operational facilities from the ground up. In addition to building new facilities, most parent companies also create new long-term jobs in the foreign country by hiring new employees. 3. Acquisitions and Merger A general term used to refer to the consolidation of companies. A merger is a combination of two companies to form a new company, while an acquisition is the purchase of one company by another in which no new company is formed. 4. Gross fixed capital formation Includes spending on land improvements (fences, ditches, drains, and so on); plant, machinery, and equipment purchases; the construction of roads, railways, private residential dwellings, and commercial and industrial buildings. 5. Exporting In International Trade, "exports" refers to selling goods and services produced in the home country to other markets. Export of commercial quantities of goods normally requires involvement of the customs authorities in both the...
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...Regional Economic Integration Learning objectives • Be able to explain the different levels of regional economic integration. • Understand the economic and political arguments for regional economic integration. • Understand the economic and political arguments against regional economic integration. • Be familiar with the history, current scope, and future prospects of the world’s most important regional economic agreements. • Understand the implications for business that are inherent in regional economic integrations agreements. This chapter discusses regional economic integration, agreements among countries within a geographic region to achieve economic gains from the free flow of trade and investment among themselves. There are five levels of economic integration. In order of increasing integration, they include free trade area, customs union, common market, economic union, and full political union. Integration is not easily achieved or sustained. Although integration brings benefits to the majority, it is never without costs for the minority. Concerns over sovereignty often slow or stop integration attempts. The creation of single markets in the EU and North America means that many markets that were formerly protected from foreign competition are now more open. This creates major investment and export opportunities for firms within and outside these regions. The free movement of goods across borders...
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...Would an exit from the EU benefit the British economy? Advocates of the UK leaving the EU claim that there would be little trouble negotiating a free trade agreement with the EU once it left, because the UK has a large trade deficit with the rest of the Union. If trade barriers between Britain and the remaining member-states were erected upon exit, the EU would lose more exports earnings from Britain than vice versa. At the same time, the UK would be freed from the burdens of EU regulation and hence able to boost trade with faster growing parts of the world, nations such as China, US and emerging markets that include India that are not part of Europe. This could be done by eliminating tariffs and signing trade agreements without the constraints of EU membership. Undermining this assertion is the belief that the UK is a big enough economy to be an effective trade negotiator in its own right. As a result it might be concluded that the UK would see little impact from leaving the EU except perhaps a minor reduction in trade while new arrangements were made. However, it would be ill judged to assume that the UK would be able to dictate terms with the EU simply because it is running a trade deficit. Primarily, the EU buys half of Britain's exports whereas the UK accounts for little over 10 per cent of exports from the rest of the EU, so the UK would be in a weak position to negotiate access on its terms. Furthermore, it could be argued that the UK's access to many non-EU markets comes...
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...3/4/2015 Global Fixed Income 1. Key Macro Indicators: | China | Saudi Arabia | Comments | Population | 1,300 million (growing at 0.47%) | 28 million (growing at 2.28%) | China has the edge | GDP | 9.10% | 6.77% | China has a stronger GDP | Trade as a Share of GDP | 55.84% | 92.24% | China is more of a self serving nation than Saudi Arabia | CPI | 5.41% | 5.01% | China has slightly higher inflation | Approximate Real GDP | 3.69% | 1.76% | China has higher real GDP | Exchange Rate (e0) | 6.37 Yuan per $ | 3.75 Riyals per $ | Saudi Arabia has a stronger currency. It is also pegged making it more predictable | Wood Product consumption (WPC) | 250 million CMB | 1million CBM | China has the edge on total consumption. Of the 250 million China consumes, China imports roughly 100 million CBM (150million produced locally). Chinas demand import is expected to go to 150million by 2015. | Consumption per Person (WPC/Population) | .0192 | .0357 | Saudi Arabia has stronger consumption per person | 2. Factors that should be monitored are: * Supply/Demand Factors * Monitor Consumption and new demand (ie monitor for developments in construction in current territory and China/Saudi Arabia) * Exchange and inflation risks * Inflation is higher in China slightly. Also, Saudi Arabia’s currency is pegged; China’s is not * Inflation in Lebanon is roughly 5.2% * Tax rates and changes * Taxes are a major concern when...
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...3- Foreign Direct Investment Background There has been a tremendous growth in foreign or international investment since 1990s. The underlying reasons for such international flows of capital can be attributed to several factors. International investment, for example, allows capital to find the highest rate of return, helps the owner of capital to diversify his or her lending and therefore reduces the associated risk, contributes to further development and spread of best practices in corporate governance and accounting rules, and finally it prevents the government from pursuing poor policies. The aforementioned advantages of the free flow of capital across national borders can be realized through two primary kinds of international investment: (1) Foreign Portfolio Investment (FPI) and (2) Foreign Direct Investment (FDI). While FPI is defined as investment in a portfolio of foreign securities such as stocks and bonds, it does not entail the active management of foreign assets. In other words, FPI is “foreign indirect investment” in that it represents passive holdings of foreign securities not least because the investor does not have control over the securities’ issuer. Exchange rates, interest rates, and tax rates on interest or dividends are factors that directly impact on FPI. In contrast, foreign direct investment, commonly known as FDI, refers to an investment made to acquire lasting or long-term interest in enterprises operating outside of the economy of the investor...
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...Should the UK remain in the EU? In the aftermath of the Second World War, Winston Churchill called for the creation of a "United States of Europe" to bind France and Germany together. In doing so, he made clear that Britain would be a supportive but independent partner of any such entity. He famously said: 'We are with Europe but not of it." In the end, Britain did join the European Economic Community but only in 1973, 15 years after the Treaty of Rome was signed. We joined the Social Chapter in 1997, eight years after it was adopted by other member states. And we never signed up to Economic and Monetary Union or the Schengen Agreement on common borders. However, it is not until now that the British public have been presented with the opportunity to have their say on the matter of our continued membership. Following the 2015 general election, the re-elected Prime Minister David Cameron reiterated a Conservative Party manifesto commitment to hold an 'in-out' referendum on Britain's membership of the European Union by the end of 2017 following renegotiations with EU leaders. This means that between now and the vote the public have to decide whether Europe benefits the country regarding immigration, trade, investment and the protection of Human Rights and peace. Firstly, with regards to the economic repercussions of leaving the EU, many supporters of the so called “Brexit” claim that Britain would have very little difficulty in negotiating some form of free trade agreement with...
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...Seite 1 DOING BUSINESS IN SWITZERLAND CONTENTS 1 1.1 1.2 1.3 1.4 2 2.1 2.2 2.3 2.4 3 3.1 3.2 3.3 3.4 3.5 3.6 3.7 3.8 3.9 4. 4.1 4.2 4.3 5 5.1 5.2 5.3 6 6.1 6.2 6.3 7 7.1 7.2 7.3 A Brief Survey Geography Population and Languages Political System The Economy Swiss Company Law Governing Law and Forms of Business Enterprises Corporation Books of Account Annual Business Report Taxation of Resident Corporations Liability to Swiss Tax Determination of Taxable Income Tax Privileged Corporations Treaty Benefits for Swiss Resident Corporations Computation of Corporate Taxes Assessment of Corporate Taxes Withholding Taxes of Dividend Distributions of Swiss Corporations Filing of Tax Returns, Assessments of Tax, Tax Litigation Corporate Reorganizations Taxation of Non-Resident Corporations Liability to Swiss Tax Determination of Taxable Income and Capital of Swiss Permanent Establishments Remittance of Profits Withholding Tax Income Subject to Withholding Tax Exemptions from Withholding Tax Withholding and Reimbursement of Tax Indirect Taxes Value Added Tax Stamp Duties Real Estate Taxes Personal Taxation Income Taxes on Residents Income Taxes on Non-residents Other Individual Taxes Seite 2 7.4 8 8.1 8.2 8.3 9 9.1 9.2 10 10.1 10.2 10.3 10.4 10.5 10.6 Tax Returns, Assessment and Payment of Tax Labour Conditions an Social Security Working Conditions Social Security Social Security Treaties Government Incentives Export Risk Guarantee Program Investment Incentives Government Controls...
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...largest country in the world with a population of 34,377,611, as estimated on December 31st, 2015. In 2015, the natural growth was positive, and we could forecast that Morocco’s population growth will continue at around 1.05% annual rate, reaching about 36.4 million by 2020 (Worldometers, 2015). Morocco is a demographically young country with 27% of its population under the age of 15, 18% between the ages of 15 and 24, 42% between 25 and 54 years old, 7% between the ages of 55 and 64, and just 6% of its population over 65 years. This large share of young population provides great opportunities for Morocco to develop its emerging industries by using advanced technology and skills (World Population Review, 2015). While the rise of a new business has been happening in Morocco, the population living below the poverty line remains high at 12%. It means that four million out of Morocco's 33 million people live below the poverty line, and almost three million of them in rural areas. As Figure 1 shows, Morocco has the highest Gini Index, 40.9, among the North African countries. The household income of the poor people accounts for only 2.7% of the country’s wealth, while the rich people have 33.2% of the country’s wealth (Central Intelligence Agency, 2007). The distribution of wealth in Morocco is manifested through the obvious gap between the upper and lower class. The sex ratio of the total population was 0.976 (976 males per 1000 females), which means genders are distributed equally...
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...PEPPERDINE UNIVERSITY THE GEORGE L. GRAZIADIO SCHOOL OF BUSINESS AND MANAGEMENT ______________________________________________________________________________ Country Report TONG QIN ECNM 648 THE GLOBAL ECONOMIC ENVIRONMENT SPRING 2016 (Session A) I. Demographics of Morocco Morocco, officially the Kingdom of Morocco, is situated on the northwestern corner of Africa. It is the 39th largest country in the world with a population of 34,377,611, as estimated on December 31st, 2015. In 2015, the natural growth was positive, and we could forecast that Morocco’s population growth will continue at around 1.05% annual rate, reaching about 36.4 million by 2020 (Worldometers, 2015). Morocco is a demographically young country with 27% of its population under the age of 15, 18% between the ages of 15 and 24, 42% between 25 and 54 years old, 7% between the ages of 55 and 64, and just 6% of its population over 65 years. This large...
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...dddddddddddddddddddddd Chapter 7: Market Entry Strategies Chapter Objectives Structure Of The Chapter Entry strategies Special features of commodity trade Chapter Summary Key Terms Review Questions Review Question Answers References Bibliography When an organization has made a decision to enter an overseas market, there are a variety of options open to it. These options vary with cost, risk and the degree of control which can be exercised over them. The simplest form of entry strategy is exporting using either a direct or indirect method such as an agent, in the case of the former, or countertrade, in the case of the latter. More complex forms include truly global operations which may involve joint ventures, or export processing zones. Having decided on the form of export strategy, decisions have to be made on the specific channels. Many agricultural products of a raw or commodity nature use agents, distributors or involve Government, whereas processed materials, whilst not excluding these, rely more heavily on more sophisticated forms of access. These will be expanded on later. Chapter Objectives The objectives of the chapter are: Structure of the Chapter The chapter begins by looking at the concept of market entry strategies within the control of a chosen marketing mix. It then goes on to describe the different forms of entry strategy, both direct and indirect exporting and foreign production, and the advantages and disadvantages connected with each method...
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...try IBA 4010. SPRING 2014. LECTURER: DR.CAREN OUMA. TERM PAPER. NAME: ABDI MILA MOHAMED. ID NUMBER: TOPIC: INTERNATIONAL BUSINESS ENTRY. Contents EXECUTIVE SUMMARY 3 1.0 INTRODUCTION 4 1.1Background 4 1.2 Purpose of International Business Entry 4 1.3 Scopeof international Business Entry 4 1.4 Basic Issues an Organisation Faces 5 1.5 Strategies used by Firms 5 ENTRY STRATEGIES 6 2.0 EXPORTING 6 2.1 Advantages and Disadvantages of Exporting 7 2.2 Passive exports Vs Aggressive exports 7 2.3 Direct and Indirect Export 8 2.4 Case Study 9 3.0 PIGGYBANKING…………………………………………………………………………………….10 4.0COUNTERTRADE……………………………………………………………………………………10 4.1 Forms of Countertrade…………………………………………………………………………….10 4.2 Examples of Countertrade…………………………………………………………………………11 4.3 Disadvantages of Countertrade……………………………………………………………………11 5.0 BARTER………………………………………………………………………………………………11 5.1 Forms of Barter Trade…………………………………………………………………………….11 6.0 FOREIGN PRODUCTION……………………………………………………………………………14 6.1 Licensing…………………………………………………………………………………………..14 6.2 Joint Ventures……………………………………………………………………………………..15 6.3Ownership………………………………………………………………………………………….16 6.4 Exports Processing zones………………………………………………………………………….17 7.0 ANALYSIS AND CONCLUSION…………………………………………………………………...17 7.1 Conclusion and Recommendation………………………………………………………………..17 8.0 REFERENCES………………………………………………………………………………………...
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...HR and Business Acronyms AA 1.) Affirmative Action 2.) Adverse Action AACU American Association of Colleges and Universities AAO Affirmative Action Office AAP Affirmative Action Plan AAR Average Annual Return AARP American Association of Retired Persons ABF Asset Based Financing ABM Activity Based Management ABMS Activities Based Management System ABS Asset Backed Security ACH Automated Clearing House AD & D Accidental Death and Dismemberment ADA Americans with Disabilities Act ADEA Age Discrimination and Employment Act ADL Activities of Daily Living ADP Automatic Data Processing ADR Alternative Dispute Resolution AE Account Executive AED United Arab Emirates AFL-CIO American Federation of Labor and Congress of Industrial Organizations AFSCME American Federation of State, County and Municipal Employers AJB Americas Job Bank ALC Alien Labor Certification ALEX Automated Labor Exchange ALJ Administrative Law Judge ALM Asset Liability Management AM Asset Management AMA 1.) American Management Association 2.) American Medical Association AMPS Auction Market Preferred Stock ANSI American National Standards Institute AP Accounts Payable AR Accounts Receivable APB Accounting Principles Board APR Annual Percentage Rate APV Adjusted Present Value APY Annual Percentage Yield ASAE American Society of Association Executives ASB Accounting Standards Board ASHHRA American Society for Healthcare Human Resources Administration ...
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