Finance & Economics | WPN World People News

Certain U.S. citizens or resident aliens, specifically contractors or employees of contractors supporting the U.S. Armed Forces in designated combat zones, may now qualify for the foreign earned income exclusion.

The U.S. Department of the Treasury and the Internal Revenue Service issued proposed regulations providing rules on the availability of charitable contribution deductions when the taxpayer receives or expects to receive a corresponding state or local tax credit on August 23.

Two new projects for a total of US$ 47.5 million in grants from the Sint Maarten Recovery, Reconstruction and Resilience Trust Fund financed by the Government of the Netherlands have been launched. The first project provides training and stipends to unemployed and underemployed residents in the wake of hurricane Irma and the second will help bring the Sint Maarten Medical Center, including a new hospital building, to standards that can withstand extreme weather events.

The World Bank launched bond-i (blockchain operated new debt instrument), the world’s first bond to be created, allocated, transferred and managed through its life cycle using distributed ledger technology. The two-year bond raised A$110 million, marking the first time that investors have supported the World Bank’s development activities in a transaction that is fully managed using the blockchain technology.

The World Bank, on August 22, announced the 18-month debarment of Flycom d.o.o. (Flycom), a Slovenian provider of infrastructure services that engaged in corrupt practices under the Southern Africa Power Market Project (SAPMP) in the Democratic Republic of the Congo (DRC).

The European Securities and Markets Authority (ESMA) has issued a set of draft regulatory and implementing standards (RTS/ITS) under the Securitisation Regulation, which concern the details of a securitisation to be made available by the originator, sponsor and SSPE, as well as the format and templates for doing so, on August 22.

The results of a Freedom of Information request by the TaxPayers’ Alliance has revealed big spending on luxury vehicles for mayors and council chairmen.

Real household income and GDP per capita

Percentage change on the previous quarter, seasonally adjusted data

The British Minister of State for Asia and the Pacific, Mark Field MP, delivered a powerful speech at the Ministry of Foreign Affairs and Trade on his second day in Brunei. The Minister highlighted the depth of the UK and Brunei’s longstanding and close relationship, he gave his vision for the EU Exit and opportunities for trade and investment and the UK’s relationship with ASEAN.

International Trade Secretary Dr Liam Fox MP, will today (Tuesday 21 August) set out how the government will make Britain a 21st century exporting superpower through better use of our overseas network, new online tools and building an extensive business to business network.