Germany's central bank bringing home gold reserves ahead of schedule

The German central bank is on track to bring home billions in gold reserves years ahead of schedule, Bundesbank board member Carl-Ludwig Thiele announced in Frankfurt on Thursday.

Trump signs orders rolling back financial regulation

US President Donald Trump signed two orders Friday aimed at rolling back financial regulations put in place after the 2008 global financial crisis.

China denies engaging in currency, trade war despite Trump claims

China has never used a "currency war" to increase its trade competitiveness, the nation's Foreign Ministry said on Friday, after US President Donald Trump accused Beijing of purposefully devaluing the yuan.

Germany's Schaeuble warns Britain against becoming a tax haven

German Finance Minister Wolfgang Schaeuble on Wednesday warned Britain against trying to become a tax haven on exiting the European Union.

EU: Romania and Bulgaria must step up efforts to fight corruption

Despite progress, Romania and Bulgaria have yet to fulfill EU benchmarks on judicial reform and fighting corruption and organized crime, the European Commission said on Wednesday.

EU parliament rejects money laundering blacklist for being too short

European Union lawmakers Thursday rejected a blacklist compiled by the European Commission of countries deemed to be at risk of money laundering, saying that the list was not exhaustive enough.

US prosecutors finalize 7.2-bln-dollar settlement with Deutsche Bank

The US Justice Department announced a 7.2-billion-dollar settlement Tuesday with Deutsche Bank over allegations that the German-based financial institution misled investors who bought mortgage-backed securities in 2006-07.

Australian immigration spent billions without records, audit shows

Australia's immigration department cannot show a paper trail for payments worth 1.1 billion Australian dollars (820 million US dollars) for contracts related to the offshore detention centres on Nauru and Manus Island, an audit report showed Tuesday.

Moldova to receive 100 million euros of EU aid

Moldova will receive up to 100 million euros (106 million dollars) of EU assistance to meet its most pressing financing needs, the European Commission said Friday.

HT acquisition prompts ZSE indices to rise to record high since mid-2011

The news that the Croatian telecommunications company Hrvatski Telekom (HT) signed an agreement on Tuesday to buy 76.53 percent of shares in Montenegro's Crnogorski Telekom from Hungary's Magyar Telekom for EUR 123.5 million propelled the Zagreb Stock Exchange (ZSE) Crobex index to rise by 0.98% to 2,056.04 points, a record high since August 2011, whereas trading reached HRK 21.5 million, 16 million more than on Monday.

Crobex index reaches highest level since March 2013

The main Zagreb Stock Exchange indices jumped on Tuesday, the Crobex by 1.67% to 2,025.19 points, its highest level since 23 March 2013, when it stood at 2,025.28 points, and the first time it crossed the 2,000 point mark since 11 October 2016. 

Croatia's gross foreign debt cut by 9.4% to 42.4 bln euro

The latest Croatian National Bank (HNB) data show that the gross foreign debt at the end of September 2016 amounted to 42.4 billion euro which was 4.4 billion euro less or a drop of 9.4% on the year, with the Croatian Chamber of Commerce (HGK) expecting that trend to continue.

Crobex value up 18% since start of 2016

Friday, 30 December, which was the last trading day on the Zagreb Stock Exchange (ZSE) this year, was marked by a regular turnover of 13 million kuna, and a rise of 0.18% and 0.19% respectively of the Crobex index to 1.994,84 points and of the Crobex10 to 1.158,18 points.

Dijsselbloem: Spat settled on Greek bailout after Christmas bonus

Following a dispute over financially-strapped Greece's handing a Christmas bonus to its pensioners, Eurogroup head Jeroen Dijsselbloem said Saturday that the way was clear to continue debt measures with Athens.

Deutsche Bank, Credit Suisse agree to huge fines in US mortgage probe

Deutsche Bank and Credit Suisse have agreed to settle investigations into the fraudulent sale of mortgage-backed securities by paying 7.2 billion dollars and 5.3 billion respectively in the United States, the major German and Swiss banks said Friday.

Goldman Sachs fined 120 million dollars for rate manipulation

The US investment bank Goldman Sachs has been fined 120 million dollars for manipulating information that affected interest rate products globally, US regulators said Wednesday.

Greek debt measures in doubt after Tsipras' Christmas handout promise

Greek Prime Minister Alexis Tsipras may have jeopardized pending debt measures for his crisis-hit country with a pledge to give poor Greek pensioners a Christmas bonus this year.

EU Commission fines trio of banks 485 million euros for rate fixing

Credit Agricole, HSBC and JPMorgan Chase must pay 485 million euros (520 million dollars) in fines for manipulating a key benchmark used to set lending rates, the European Commission said Wednesday.

Belgrade Stock Exchange joins SEE Link

The Belgrade Stock Exchange (BELEX) has been connected to the South-East European Link, a project started by Bulgarian, Macedonian and Croatian stock exchanges with the objective of creating a regional infrastructure for trading of securities listed on the three markets.

Italian banking shares tumble ahead of Sunday's referendum vote

Share prices for Italian banks fell sharply on the Milan stock exchange Monday, amid fears that a 'no' vote in a Sunday constitutional referendum could trigger a political and economic crisis.

Foreign banks based in Germany foresee “hard” Brexit

Foreign banks based in Germany are gearing up for Britain’s departure from the 28-member European Union to be a “hard Brexit” that will take effect over the next two or three years.

EU says tax officials can exchange bank account data across borders

Tax officials across the EU's 28 member countries will now be able to automatically share names and balances on bank accounts as part of the bloc's effort to fight tax evasion, according to new rules approved by the European Parliament on Tuesday.

Report: Britain's debt could rise by 25 billion pounds after Brexit

The British government is likely to borrow 25 billion pounds (31 billion dollars) more than forecast in last year's budget by 2019-20 in the wake of the Brexit vote in June, an economic think-tank reported on Tuesday.

End of an offshore era? Panama signs tax transparency treaty

Panama signed an international convention for tax transparency Thursday, agreeing to work with other countries against tax fraud and money laundering, the Organization for Economic Cooperation and Development said.

Banking association calls for forming task force to deal with debts in arrears

The Croatian Banking Association (HUB) proposes the establishment of a task force in charge of elaborating a comprehensive solution to resolve the issues of Croatian citizens with blocked accounts, and the association warns that the announced amendments to the Distraint Law will not be conducive to solving problems of over-indebted citizens.

EU proposes corporate tax reforms to cut red tape, tackle abuse

The European Commission unveiled proposals Tuesday aimed at streamlining corporate tax rules across EU member states and closing loopholes for tax avoidance, after reforms suggested back in 2011 failed to gain approval.

Croatian adult financial literacy low - survey

Croatia ranks 27th out of 30 countries covered by an international survey on adult financial literacy, which was conducted by the International Gateway for Financial Education (INFE) and the Organisation for Economic Cooperation and Development (OECD).

FinMin: Tax reforms core of fiscal policies

Economic growth and consequently increased employment, the continuation of fiscal consolidation and activation of 'dormant' capital will be the pillars of fiscal policies in the coming period with special emphasis on an overall tax reform, Finance Minister Zdravko Maric said on Friday, but he stopped short of specifying tax reforms.

Ten EU countries move closer to contested financial tax

A group of EU member states could agree by the end of the year on a controversial tax on financial transactions, German Finance Minister Wolfgang Schaeuble said Tuesday, following repeated delays to the project.

Creditors settle debt deal over failed Austrian bank

Creditors have settled their dispute with Austria's failed regional bank Hypo Alpe Adria, the liability fund of the province of Carinthia said Monday.

Austrian province set to avoid bankruptcy as creditors accept haircut

Austria's Carinthia province stepped back from the brink of possible bankruptcy Tuesday when Finance Minister Hans Joerg Schelling announced that creditors have been accepting a haircut deal over the failed regional bank Hypo Alpe Adria.

Deutsche Bank customers briefly locked out of accounts

After a week that saw Deutsche Bank's shares hit a record low over growing concerns about its finances, the German-based lender's troubles persisted into the weekend with a technical glitch that locked customers out of their accounts.

Trump slips on the Forbes billionaire list

Donald Trump's fortune has shrunk by 800 million dollars to 3.7 billion dollars, according to the Forbes list of billionaires on Thursday.

Rogue ex-trader ordered to pay 1 million euros in damages

A French appeals court said Friday that rogue ex-trader Jerome Kerviel, whose transactions lost Societe Generale billions of euros, was to pay back 1 million euros (1.12 million dollars) in damages, according to a lawyer for the bank.

Leak links Argentina president's family company to Bahamas business

A holding company belonging to the family of Argentinian President Mauricio Macri appears linked to a business established in the Bahamas, according to information published Thursday by newspaper La Nacion.

Lawyer: Ex-EU official named in Bahamas tax leak acted in good faith

Former EU commissioner Neelie Kroes acted "in good faith" when she failed to declare her directorship of an offshore company in the Bahamas, thinking that the firm had been dissolved, Dutch media on Thursday quoted her lawyer as saying.

FinMin: Purpose of tax reform is to increase personal income and cut costs

Caretaker finance minister Zdravko Maric said on Saturday that the purpose of the planned tax reform was to increase personal disposable income and cut corporate and household costs.

Buffett slips on the richest list after Wells Fargo scandal

Superstar investor Warren Buffett has slipped down to fourth position among the world's wealthiest people in the wake of a false account scandal at the major US bank Wells Fargo, Forbes magazine said Thursday.

EU prepares ground for blacklist of global tax havens

The European Commission has taken a first step towards compiling an EU-wide blacklist of global tax havens by the end of next year, it announced Thursday, amid broader efforts to crack down on tax evasion.

Croatia H1 general government deficit stands at 0.2% of GDP

Croatia's consolidated general government budget deficit in the first half of 2016 was HRK 518 million or 0.2% of Gross Domestic Product, while the budget gap in the said period stood at 2.4 billion or 0.7% of GDP, down 5 billion kuna from the corresponding period in 2015.

Danish tax authority pays source for names mentioned in Panama Papers

Denmark will pay an anonymous source for information about hundreds of Danish nationals mentioned in a data leak from a Panama-based law firm linked to tax-dodging schemes, the Danish minister of taxation said Wednesday.

Croatia's public debt cut to EUR 38b at end of May

Public debt over five months in 2016 was cut by HRK 4.6 billion. The internal debt went up HRK 2.7 billion, while the foreign debt fell HRK 7.3 billion.

China approves Hong Kong-Shenzhen stock exchange link

China has approved a long-awaited link between the Hong Kong and Shenzhen stock markets, state media reported on Tuesday, about two years after a similar link was established between the Shanghai and Hong Kong exchanges.

Croatian finance ministry issues EUR 1.5 bln in treasury bills

The Finance Ministry on Tuesday issued EUR 1.5 billion worth of new treasury bonds, half a billion more than planned, most of which will be used to re-schedule due debts.

UniCredit shares continue fall despite higher profit, less bad loans

Italy's largest bank by assets, UniCredit, reported Wednesday higher profit and a reduction in exposure to bad loans, but still suffered stock market falls amid lingering concerns about its financial solidity.

Italian bank shares crash, despite Renzi's reassurances on solidity

Italian banks suffered heavy losses on the Milan stock exchange on Tuesday, even after Prime Minister Matteo Renzi vouched for their solidity in the wake of mixed results in last week's Europe-wide stress tests.

Italian, Austrian, Irish banks fare worst in EU stress tests

Italy's Monte dei Paschi bank, Austrian bank Raiffeisen, Spain's Banco Popular and two Irish banks have fared worst in EU-wide stress tests, the European Banking Authority said Friday.

Budget gap reduced by 5.1 bn kuna in H1

In the first six months of 2016, Croatia's budget deficit came to HRK 2.4 billion, making up 0.7 % of GDP, and falling by 5.1 billion kuna compared to H1 2015, Finance Minister Zdravko Maric said at a news conference in Zagreb on Friday. 

Malaysia vows to cooperate with US over 1MDB lawsuits

Malaysia said Thursday it would cooperate with the US Justice Department in lawsuits filed to recover assets of the beleaguered state development fund 1MDB.

FinMin: If Croatia pursues responsible policy, it can leave EDP

If Croatia continues to pursue the responsible and transparent policy, the country will avoid the situation in which Portugal and Spain found themselves, and Zagreb can look forward to abrogation of the Excessive Deficit Procedure (EDP) in the foreseeable time, Croatia's Finance Minister Zdravko Maric said in Brussels on Tuesday.

EU plans to give Ukraine 50 million euros to fight corruption and visa-free travel regime

The European Union's commissioner for enlargement negotiations, Johannes Hahn, said Monday that the bloc plans to give the former Soviet republic of Ukraine 50 million euros (55 million dollars) to fight corruption.

FinMin: Conversion implemented lawfully, we will protect budget and taxpayers

The EC on Friday confirmed that it had sent Croatia a formal warning in mid-June regarding the conversion of loans denominated in Swiss francs into euro loans, being of the opinion that the country's loan conversion law had shifted all of the conversion costs onto banks and that its retroactive application jeopardised the principle of legal security.

Slovenia refutes Draghi's accusations

Slovenia's law enforcement authorities on Thursday contested claims made by European Central Bank (ECB) governor Mario Draghi on the Slovenian police having encroached on the internal system of the Slovenian central bank.

German minister warns against race to bottom as Britain plans tax cut

German Finance Minister Wolfgang Schaeuble on Wednesday warned European nations against launching a race to cut taxes after Britain set out plans to slash corporate tax rates following last month's Brexit vote.

Merkel sticks to balanced budget despite Brexit, refugee costs

German Chancellor Angela Merkel's government is retaining plans for a balanced budget over the next four years, despite the uncertainty unleashed by Britain's vote to exit the EU and the costs of accommodating large numbers of refugees.

EU crackdown on corporate tax cheats criticized as too weak

EU member states agreed Tuesday on measures aimed at cracking down on corporate tax cheats, but were accused of not taking firm enough action following a recent spate of tax avoidance scandals.

EU closes in on corporate tax loopholes; decision due by Tuesday

EU finance ministers reached a provisional deal Friday on measures aimed at clamping down on corporate tax cheats, but gave themselves three more days to raise any final objections, after some memb

EU ministers take new stab at rules to close corporate tax loopholes

EU finance ministers took a new stab Friday at agreeing to measures aimed at clamping down on corporate tax cheats, after failing to strike a deal last month, while recent tax avoidance scandals have put pressure on them to act.

Eurozone minister: Brexit would be Europe's "Lehman Brothers moment"

Eurozone finance ministers expressed concern Thursday about a possible British decision to leave the European Union, with one of them comparing it to the 2008 collapse of the Lehman Brothers bank.

Ministers set new September deadline for EU financial tax

A group of EU member states agreed Thursday to take a final stab at hashing out a controversial tax on financial transactions, after failing to meet a self-imposed June deadline to resolve their differences.

Bank of England sees increased risk that pound will plummet on Brexit

The probability that the pound will fall if Britain decides to leave the European Union in next week's referendum is growing, the nation's cental bank said Thursday.

Switzerland probes data leak at Mossack Fonseca's Geneva office

Swiss prosecutors have launched criminal proceedings after the law firm at the centre of the international Panama Papers tax scandal alleged that a computer at its Geneva offices was hacked, Swiss media reported Wednesday.

473 Croats have filed for bankruptcy to date

Since the start of this year, when legislation enabling individuals to declare bankruptcy took effect, as many as 473 applications for personal bankruptcy have been filed with the state-run Financial Agency (FINA).

Minister Maric meets European commissioner for financial stability

The two officials also discussed Croatia's law on the conversion of loans pegged to the Swiss franc to ones indexed in euros, which Commissioner Hill recently criticised.

EU ministers aim for June decision on closing corporate tax loopholes

EU finance ministers will attempt in June to reach an agreement on proposals aimed at clamping down on corporate tax avoidance, after failing to achieve a breakthrough on Wednesday.

EU ministers seek unity over plan to reduce corporate tax loopholes

The measures, proposed by the European Commission in January, are part of a wider clampdown on multinationals that use loopholes to cut their tax bills.

London's financial hub tracks Brexit debate, prepares for the worst

The City of London could lose tens of thousands of financial services jobs if Britain leaves the EU, prompting some banks and other firms to begin contingency planning for a post-Brexit economy.

Luxembourg rejects reports calling its tax practices into question

Luxembourg on Tuesday rejected media reports that it had started verbally offering companies beneficial tax arrangements, which raised concerns that the country may be trying to sidestep new EU tax transparency measures.

Luxembourg faces new questions over corporate tax practices

Luxembourg faced new questions over its corporate tax practices on Tuesday after Belgian media reported that it had started verbally offering companies beneficial tax arrangements.

Croatia set to tighten fiscal responsibility

Croatian Finance Minister Zdravko Maric on Tuesday announced amendments to the Fiscal Responsibility Act in a bid to make the existing fiscal rule stricter, reinforce public finance management at all levels and to empower the Fiscal Responsibility Commission.

Shares of Koncar-EI, Suncani Hvar put on sale by CERP

As for "Suncani Hvar". a public auction for the sale of 29.94% of the capital equity is scheduled for 13 June on the ZSE, and shares interests will be possible to purchase only in whole offered package at the starting price of HRK 162.77 million.

FinMin: Interest in state property privatisation 'more than welcome'

He was speaking to reporters as part of the New Europe Business Forum, organised by the Zagreb School of Economics and Management. Commenting on criticisms of the announced privatisation, he said "there will always be opposition to any reform."

Iceland president says Panama Papers leak won't affect re-election

Iceland's president said Saturday his plans to run for a new term in office were not affected by reports that his parents-in-law had a company in a Caribbean tax haven.

Edward Snowden: Panama whistleblower's manifesto is essential reading

US whistleblower Edward Snowden described the manifesto of the source of the Panama Papers leak as essential reading, ahead of the online release of more data expected Monday.

Obama orders actions against tax loopholes in wake of Panama Papers

US President Barack Obama announced measures Friday to combat tax loopholes exploited by both US and foreign taxpayers, and called on Congress to take further legislative action.

Report: In-laws of Iceland's president linked to Panama Papers leak

Iceland's president faces potential questions in his re-election campaign over reports Tuesday that his parents-in-law had a company in a Caribbean tax haven.

Malta parliament debates no-confidence vote over Panama Papers leaks

Malta's parliament was on Monday debating a motion of no confidence in the government over Prime Minister Joseph Muscat's failure to sack a minister and his chief of staff, who are implicated in the Panama Papers affair.

G20 threatens "defensive measures" if tax havens fight transparency

The Group of 20 (G20) major advanced and emerging economies are calling for "all countries and jurisdictions" to meet global standards for financial and tax transparency by mid-2017.

Panama vows to comply with international tax reporting measures

Panama will comply with international standards for automatic tax information sharing, a top official from the country's Economy Ministry said Thursday in Washington.

Developing countries call for "end to tax havens"

A group of developing countries is supporting international efforts to fight the use of foreign tax havens.

OECD: Panama to comply with international tax reporting

Panama will comply with international standards for automatic tax information sharing, Organization for Economic Co-operation and Development (OECD) Secretary-General Angel Gurria says.

World Bank warns corrupt officials, tax evaders: "Be very careful"

The widespread use of shell companies to conceal assets in tax-haven banking systems

OECD tax chiefs meet to discuss Panama Papers scandal

The heads of tax authorities from 46 countries were to meet in Paris to discuss a joint response to the Panama Papers on Wednesday, one day after authorities raided the headquarters of the law firm at the centre of the major data leak.

Cameron vows to "change the culture" on use of tax havens

Prime Minister David Cameron promised to "tighten the law and change the culture" by cracking down on tax evasion and discouraging "aggressive" tax avoidance on Monday, following the British use of tax havens revealed in the Panama Papers.

Panama's president calls tax evasion a global problem

Panamanian President Juan Carlos Varela has slammed the singling out of his country for the various tax dodging schemes revealed in the massive data breach known as the Panama Papers.

Infantino criticizes Panama Papers TV deal reports as "disgrace"

FIFA president Gianni Infantino has described reporting over a TV contract which emerged in the leaked Panama Papers affair as a "disgrace."

Britain to "tighten the screw" on tax evasion after Panama leaks

Britain promised to "tighten the screw" against tax evasion on Monday by investigating British use of tax havens revealed in the Panama Papers and introducing tougher legal framework.

Thousands march to demand Maltese premier resign after Panama Papers

Thousands of people took to the streets in Malta on Sunday, calling on the prime minister to resign in the wake of the Panama Papers data leak that implicated two senior members of government. 

Cameron faces new questions over 200,000-pound gift from mother

British Prime Minister David Cameron published tax summaries Sunday in a bid to end a row over offshore funds held by his late father, but the documents instead raised new questions about a 200,000-pound (280,000 dollars) gift from his mother.

Thousands of protesters renew calls for early elections in Iceland

Thousands of people protested Saturday outside Iceland's parliament for the sixth day running, calling for early elections in the wake of a major data leak that resulted in the resignation of the former prime minister.

Cameron on Panama Papers: "I know I should have handled this better"

British Prime Minister David Cameron on Saturday admitted that he was at fault for his widely criticized response to the massive data leak known as the Panama Papers, which linked his late father to offshore funds registered in tax havens.

Cameron vows to publish tax details after Panama Papers criticism

British Prime Minister David Cameron on Saturday promised to publish financial information from his recent tax returns, following criticism of his response to the Panama Papers linking his late father to offshore funds registered in tax havens.

Iceland government survives no-confidence vote after Panama Papers

Iceland's centre-right government survived a no-confidence vote late Friday, the day after the prime minister resigned in the wake of a major data leak that sparked widespread condemnation of his financial dealings.

Iceland lawmakers debate no-confidence motion after Panama Papers

Iceland's opposition demanded immediate elections to restore trust in the political system as lawmakers on Friday debated a no-confidence motion after the Panama Papers leak.

Opposition urges Cameron to "come clean" on link to offshore funds

Opposition leaders on Friday urged British Prime Minister David Cameron to "come clean" by making a full disclosure in parliament on his links to offshore funds that his late father had registered in tax havens.

Iceland lawmakers to debate no-confidence motion after Panama Papers

The government of Iceland's new prime minister, Sigurdur Ingi Johannsson, faces a no-confidence vote Friday, a day after taking office following fallout from the Panama Papers.

New Iceland premier takes office after Panama Papers leak

Iceland on Thursday got both a new prime minister and a new foreign minister, following the resignation of premier Sigmundur David Gunnlaugsson in the wake of a data leak from a Panama-based law firm.

Iceland premier resigns after Panama Papers leak

Iceland's prime minister since 2013 formally resigned on Thursday in the wake of a data leak from a Panama-based law firm suggesting he and his wife had an offshore company in a Caribbean tax haven.

Putin rejects corruption claims over Panama Papers' offshore funds

Russian President Vladimir Putin on Thursday rejected corruption allegations over offshore funds documented in an unprecedented leak of financial data known as the Panama Papers.

EU urges quicker progress on tax-haven blacklist after Panama Papers

The European Union should produce a common blacklist of international tax havens within six months, the bloc's top taxation official said Thursday, trying to give the project fresh momentum after a massive leak detailing tax avoidance practices.