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Novembre 2017 - page 4

Saudi VAT will impact the prices and this will push consumers to find ways to save money

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The introduction of value-added tax (VAT) next year will directly impact the prices of commodities and services, analysts said. Al-Zaidi, a Financial ablyst, said “The price increase will reduce the demand for goods, and this will have a negative effect on companies, most of which will likely take several measures to keep their business”. He hoped the price rise would not affect the quality of goods and services. “If it happened, it is a negative indication. However, the price hike will push consumers to find ways to save money”, he said. Businesses must register for VAT by the deadline of Dec. 20, and the official introduction starts on Jan 1. He anticipated that companies will be keen to improve their services at competitive prices, especially with the opening of international markets through e-commerce. He stressed that the best service-providers with the lowest costs will succeed in the market, while other businesses will fail. Al-Zaidi, who is also the director of the Jeddah-based Al-Zaidi Financial Education Center, said that it is possible that the government will impose additional taxes on other products or increase VAT from 5 percent. Al-Zaidi anticipated that small and medium-sized companies will find it difficult to adapt to VAT, making it difficult to significantly reduce their expenses to survive. As for imposing VAT on private education, Al-Zaidi said that investors in this sector would reduce fees to retain their market share. “Otherwise, their investment would be severely affected”, he said.

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Saudi Crown Prince calls the Supreme Leader of Iran “the new Hitler”

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Saudi Arabia’s Crown Prince Mohammed bin Salman has called the Supreme Leader of Iran “the new Hitler of the Middle East”. In an interview with the New York Times published on Thursday, Mohammed bin Salman, who is also Saudi defense minister, suggested the Islamic Republic’s alleged expansion under Ayatollah Ali Khamenei needed to be confronted. “But we learned from Europe that appeasement doesn’t work. We don’t want the new Hitler in Iran to repeat what happened in Europe in the Middle East”, the paper quoted him as saying. It’s “ludicrous”, he said, to suggest that this anticorruption campaign was a power grab. He pointed out that many prominent members of the Ritz crowd had already publicly pledged allegiance to him and his reforms, and that “a majority of the royal family” is already behind him, the New York Times article said. “We show them all the files that we have and as soon as they see those about 95 percent agree to a settlement”, which means signing over cash or shares of their business to the Saudi state treasury. According to him, the public prosecutor says it could eventually “be around $100 billion in settlements”. Mohammed bin Salman insisted that the Saudi-backed war in Yemen was tilting in the direction of the legitimate government there, which, he said is now in control of 85 percent of the country. According to him, given the fact that pro-Iranian Houthi rebels, who hold the rest, launched a missile at Riyadh airport, anything less than 100 percent is still problematic. He praised President Trump as “the right person at the right time” and added that with his support the Saudis and their Arab allies were slowly building a coalition to stand up to Iran.

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Lower House Committee offers protection for citizens reporting corruption

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The State Duma Committee for Security and Countering Corruption has approved a draft law offering state protection to those who reveal facts of corruption to law enforcement agencies. The bill will now progress to the first reading in the Duma.The bill, developed by the Labor Ministry and drafted in the Lower House by the government in mid-October this year, offers state protection to those who report corruption to state agencies. It considers crimes in federal, regional or municipal power bodies or in state-run organizations. The exact measures listed in the draft include making sure that the report remains confidential; free legal advice; protection from unlawful sacking or other sanctions at work; and protection from any other infringement of the citizen’s rights. In particular, the bill states that a person reporting facts about corruption can be remanded only after a special commission session with the participation of a local prosecutor. The term of protection is set at two years from the moment of the original report.

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Kathemerini: positive meeting with Nimetz

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The meeting between representatives of Macedonia and Greece with the UN mediator in the name dispute, Matthew Nimetz, scheduled for Dec. 11-12 in Brussels, is a sign of continuity of the positive climate that has been created in the relations between the two countries after change of government in Macedonia, Greek daily Kathimerini reads.The next NATO Summit, to be held on July 11 and 12 in Brussels, is in function of a time frame, which moves to dispute resolution and achieving a mutually acceptable solution. Macedonia hopes that it will finally open the way to becoming a member of the Alliance.Greek Foreign Minister Nikos Kotzias has repeatedly stated that the issue will be resolved in the first half of 2018, warning that if this does not happen, there will be major difficulties.The positions expressed by Prime Minister Zoran Zaev and Foreign Minister Nikola Dimitrov are moderate and linked with the spirit of readiness to compromise. However, there is a big difference from the public statements to the essential acceptance of a different position. And certainly it is not just a matter of name that caused big reactions in FYROM. Even if a mutually acceptable solution is reached, it is necessary to have the readiness to use it, Kathimerini writes.Two countries implement confidence building measures, through small and easy steps, but symbolic and very useful.In this context, the Greek media commented on noticeable curbing of passions regarding the agenda of former Prime Minister Nikola Gruevski over Skopje 2014 project.

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Claiming serious U.S. provocation, North Korea vows retort

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Following America’s move to re-designate North Korea as a state sponsor of terrorism, Pyongyang has fought back, calling it “a serious provocation”. On Wednesday, two days after being featured on the list, North Korea responded and vowed to keep up its nuclear and missile programs as a deterrent against the “hostile” United States. A spokesman of the North’s Foreign Ministry told its official Korean Central News Agency, “The U.S., the kingpin of all kinds of terrorism who cannot even prevent terror in its own territory, is acting like an ‘international judge on terrorism’ while attaching or removing the label of ‘state sponsor of terrorism’ on sovereign countries. This is a serious provocation and a violent infringement upon our dignified country”. However, the spokesman warned that the North’s “deterrence will be further strengthened” – and that the country “must continue to keep the treasured nuclear sword in our hands more tightly” – as long as Washington continued with its “hostile policy” against the North.

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Macedonia and Bulgaria sign several cooperation deals

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Officials of the governments of Macedonia and Bulgaria signed agreements on cooperation in several spheres as part of a joint session taking place Thursday in Strumica, eastern Macedonia. Ministers of defence of Macedonia and Bulgaria, Radmila Sekerinska and Krasimir Karakachanov respectively, signed a protocol on cooperation to organize training for Macedonian servicemen at military schools in Bulgaria. The document envisages practical training of tank crews in Bulgaria and it also includes other measures to boost defence cooperation. Also, Macedonia and Bulgaria today made the initiative on cutting international roaming charges in telecoms services official by inking a memorandum.A joint platform is expected to facilitate all participants trading electric power. Under the new market procedures, Macedonian traders will joint forces with their Bulgarian partners on daily markets realized by the Bulgarian power distributor on behalf of the two operators. Common markets on the Bulgaria-Macedonia border will contribute to an increase in electricity trade in the region and increase liquidity of national energy stock markets.Joint procedures are a requirement to unite energy stock markets of the Western Balkans and SEE. Bulgartransgaz, natural gas transmission operator of Bulgaria, and the company Macedonian Energy Resources signed a deal on preparing a feasibility study regarding the construction of a new gas inter-system connection.Its signing implements the memorandum between the Ministry of Energy of Bulgaria and the Macedonian Economy Minister, signed on 1 August 2017, to cooperate with respect to natural gas.Furthermore, the cadastre agencies of the two countries signed an agreement to share cartographic and geodetic materials and information.

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Iran’s President: cooperation in eradicating the corruption of terrorism from Syria

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During the tripartite summit of Iran, Russia and Turkey held in Sochi on Wednesday, Iranian President Hassan Rouhani underlined that the progressive elimination of Daesh and the rest of the terrorist groups announce a new era of eradication of violence. The Russian, Iranian and Turkish leaders discussed the future of Syria and reaffirmed the importance of preserving sovereignty, unity and territorial integrity of it, stressing how these three countries are committed to working closely to bring about peace and stability in Syria. In his speech, Rouhani highlighted how the three countries succeed through engagement and friendship and cooperation in eradicating the corruption of terrorism from Syria, “shattering the shadow of ISIS from the country and portraying a bright future for the region”, as he said. “In the present circumstances, our great mission is not only the fight against terrorism, but also a major effort to eradicate forms of discrimination, poverty and violence throughout the region. That is why regional communications and institutions need to be deepened and strengthened”, he added. President Rouhani also emphasized some points as fundamental solutions to the Syrian crisis: it is essential to continue helping the Syrians in fighting terrorism in their country because the war against it has not ended yet and the active and universal participation of the international community in the future of Syria is fundamental to achieve stability, eliminate humanistic sufferings and rebuild the country.

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Iraqi troops arrest last Islamic State Wali in Mosul city

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MOSUL – On Wednesday, police officer Eyad Ramzy from Nineveh announced to al-Sabah, a semi-official newspaper, that the Iraqi security troops arrested the last Islamic State governor with his two brothers in Mosul city: “Saleb al-Eslahi and his two brothers, Ahmed and Suleiman, were nabbed at a village in Mosul with fake IDs in their possession”, as he said. The trio was referred to the authorities concerned for interrogation. Ramzy also added that the forces found huge amounts of explosive materials and weapons belonging to IS militants buried under the ground at Ayn al-Jahesh village in Mosul. “The explosive materials were estimated at 90 tons”, as he said. On Tuesday, a curfew was imposed in four districts in Mosul city in search of criminals. Despite the declaration of the victory over the Islamic State in Mosul, the group’s former bastion in Iraq, observers assume that the IS militants constitute a security threat even if they have been defeated at their main havens across Iraqi provinces. Police forces launched a manhunt for criminals, who are wanted on terror charges and also the Iraqi Air Forces are taking part in the security campaign.

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Commander Highlights Iran’s Role in Regional, Global Equations

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TEHRAN – On Wednesday, during his speech at a cultural ceremony in Tehran, Lieutenant Commander of the Islamic Revolution Guards Corps (IRGC) Brigadier General Hossein Salami stressed the Islamic Republic’s growing strength and influence, underlining how regional and global issues cannot be resolved without Iran’s presence. General Salami discussed about the recent defeat of the Daesh terrorist group and downfall of its self-proclaimed caliphate in Iraq and Syria, stressing Iran’s role in the major achievement and highlighting that the US and Zionist regime and their regional allies created Daesh to divide Muslims and confine the extent of the Islamic Revolution’s influence. “However, what happened was the expansion of the Islamic Revolution’s influence”, as he said. The commander also emphasized that thanks to the grace of God the threats posed against Iran by the enemies have been turned into opportunities for the country. He stressed that today Iran’s presence is essential to resolve regional end global matters and showed how the country is becoming more powerful while enemies are getting weaker.

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 Macedonia needs stronger fiscal consolidation

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The International Monetary Fund (IMF) said on Wednesday that the formation of the new government is a turning point for the Macedonian economy, and underscored this as an opportunity to rebuild policy space and revive reforms.Macedonia needs stronger fiscal consolidation due to rapid rise in public debt and high gross financing needs. On the fiscal front, the overall deficit narrowed to 2.6% in 2016, with the improvement largely due to under-execution of capital investment, spending constraints imposed during the pre-election period, and accumulation of payment arrears, the IMF said in its concluding statement on Article IV consultation with Macedonia on the country’s economic performance and policies.The IMF expects Macedonia to close 2017 with fiscal deficit equivalent to around 3% of GDP, while public debt is projected to rise to 47% of GDP, according to the statement. “[IMF] Directors welcomed the authorities’ intention to reduce the overall deficit gradually to 2% of GDP in the medium term, but stressed that this should rely on durable measures”.

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