18 Jun
Chapter News, News

General approach on Anti-Money Laundering (AML) legislative package agreed by EU member states

During today’s (18.06.2014) Coreper meeting, Ambassadors of the 28 EU member states agreed on a General Approach on the Anti-Money Laundering (AML) legislative package, comprising the 4th AML Directive and the new Fund Transfer Regulation. This agreement constitutes the negotiating mandate for the incoming Italian Presidency to conduct trilogues with the European Parliament. The agreement is important as it strengthens the rules and the tools to be used in the fight against money laundering and terrorist financing, in line with...

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17 Jun
Chapter News, News, Trade & TTIP Related, Uncategorized

Opportunity to Participate in SME Focused TTIP Survey

As negotiations towards an ambitious Transatlantic Trade and Investment Partnership (TTIP) move forward, the Atlantic Council is conducting research on the prospective impact of this agreement on small and medium-sized enterprises, like yours, in both the United States and European Union. SMEs represent the vast majority of all firms in both the US and EU and account for an outsized proportion of job creation, yet they face significant barriers when attempting to export their goods and services across the Atlantic....

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17 Jun
Chapter News, News

“Europe, a Thousand Different Stories…”

“Six themes, one continent, a journey of a lifetime”:  is an apt description of the European Commission’s collection of stories by experienced travel writer, Andy Round, as he journeyed throughout Europe, delving well beneath the typical tourist veneer. He followed fashion in more than the usual venues, experienced cities through their history and architecture, investigated the coastlines and civilizations from north to south and east to west, explored the majesty and magic of several European monarchies, participated in the wintry...

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16 Jun
Member News, News

Bryant Park Hotel Sold for $25 Million Loss

According to June servicer data, the $84.8 million Bryant Park Hotel loan was resolved this month for a $25.7 million loss. The hotel was sold out of foreclosure for $65 million to the controlling class using a fair value purchase option according to a Barclays research note. An appraisal done this past February valued the midtown Manhattan hotel at $71 million. Repayment of fees, interest shortfalls, and advances totaled $6 million, and the remaining $59 million paid down the A-3 tranche of JPMCC 2007-CIBC18. The...

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16 Jun
Chapter News, News

Taxation Trends in the European Union

Labour taxes remain major source of tax revenue The overall tax-to-GDP ratio1, meaning the sum of taxes and compulsory social contributions in % of GDP, in the EU282 stood at 39.4% in 2012, up from 38.8% in 2011. The overall tax ratio in the euro area2 (EA18) increased to 40.4% in 2012 from 39.5% in 2011. In 2013, Eurostat estimates show that tax revenues as a percentage of GDP are set to continue rising in both zones. The tax burden varies...

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12 Jun
Chapter News, News

Innovation in a Startup Europe

European Commission - SPEECH/14/458   12/06/2014 | Neelie KROES, Vice-President of the European Commission responsible for the Digital Agenda at Founders' Forum | London, 12 June 2014 Too often I hear that Europe needs a Silicon Valley. We don't need one, because we have our own. The difference is that Europe doesn't have one Valley. We have a few dozen. Spread all over Europe. It is called 'Start-Up Europe'. Start-Up Europe is a collection of hubs with magnificent start-ups. Great ideas. Ambitious...

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12 Jun
Member News, News

DS-Concept: Intelligent Trade Finance – Recent Transactions

With offices and affiliates in eleven countries, the DS-Concept Global Network creates international cash-flow solutions across the global supply chain. Take a look at our most recent global transactions shown below, and feel free to contact them regarding your international working capital needs. Recent Global Transactions: Turkish Seafood Distributor €10,000,000 A Turkish fish producer, with an annual turnover of 10 Million Euro, has signed a contract with DS-Concept to support their exports to several European countries. US Automotive Products Manufacturer $1,500,000 DS-Concept has provided a $1.5 Million export accounts receivable facility...

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11 Jun
Member News, News

Granito is training the Next Generation

Granito is pleased to announce the completion of its hands-on and interactive 2014 corporate development training program for young executives.   The program was created with the aim toward training emerging young executives in leadership skills and cross-border cultural differences that may emerge in a global work environment. While each group of trainees participated in a program tailored specifically to their needs, generally the program commenced with a visit to GRANITO's  New York Office, and continued with the attending of  lectures, various...

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11 Jun
Chapter News, News

2015 EU draft budget to help Europe’s economic growth despite financial constraints

"Combining the legacy of the past with helping Europe recover from the crisis, and this with scarcer resources". This is how EU budget Commissioner Janusz Lewandowski describes the EU's 2015 draft budget as adopted by the Commission today (commitments: €145.6 billion; payments: €142.1 billion). The bulk of the commitments is for future projects that make Europe stronger economically whereas some 40% of the payments still cover EU funded projects from the 2007-2013 financial period. Also the Commission is proposing...

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11 Jun
Chapter News, News

Commission proposes final step in OLAF reform process

Brussels, 11 June 2014 -- Today the Commission has proposed measures to further safeguard procedural guarantees in OLAF investigations, in order to complete the already comprehensive reform of the EU's anti-fraud office. The proposal foresees the creation of a new Controller of Procedural Guarantees, who would have two main functions. First, he would be responsible for reviewing and providing recommendations on complaints that might be lodged by anyone implicated in an OLAF investigation. Second, OLAF will have to get...

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