NORDIC-ISLE OF MAN TAX DEAL
Nordic countries will conclude on Tuesday an agreement to exchange tax information with the Isle of Man, paving the way for further accords and more regular relations with other offshore financial jurisdictions. Authorities on the Irish Sea island say the agreement rewards a policy of greater engagement with member states of the Organisation for Economic Co-operation and Development, which have long-standing concerns about harmful tax practices. Isle of Man Tax Deal

U.S. SENATE EXTENDS INTERNET TAX BAN
The U.S. Senate has approved legislation extending a moratorium on state Internet access taxes for seven years. With only days left before the Internet tax ban was set to expire, the Senate reached a compromise between lawmakers who proposed a shorter extension and those who insisted it should be made permanent.
Senate Extends Internet Tax Ban

MAURITIUS TO CARVE A NICHE AS AN INTERNATIONAL FINANCIAL CENTRE OF SUBSTANCE
Capitalising on its strategic location and relying on its sound domestic economic base, Mauritius has positioned itself as a premier and reputable international financial hub in the Indian Ocean. The Mauritius Financial Centre is a modern jurisdiction offering highly professional and reliable services to its investors. Mauritius is constantly innovating its legal and regulatory framework as well as its business environment, in line with world market demand.
Mauritius as International Financial Center

PM’S PANDERING TO TURKEY’S ILLEGAL OCCUPATION RISKS DAMAGING UK-CYPRUS RELATIONS
Britain’s relations with fellow EU and Commonwealth country Cyprus may suffer serious damage after Gordon Brown agreed a deal over the Turkish-occupied north of the island with his Turkish counterpart Recep Tayyip Erdogan.
http://www.londongreeknews.co.uk/story.php?id=428

GIBRALTAR’S ‘RELAXED’ GAMBLING REGULATIONS ATTACKED
British Ministers are to write to the Gibraltar Gambling Regulation Authority to demand a more stringent regime following calls by Lord Faulkner on the Department for Culture Media and Sports to ban advertising from ‘uncooperative’ bookmakers licensed by ‘more relaxed regulators’. The controversy has grown out of a request for an information exchange agreement between the Football Association and Victor Chandler International (VCI). These memorandums of understanding regarding information exchange are required in the UK under Gambling Commission regulations.
http://gamingintelligencegroup.com/gig/content/view/594/2/

A GROUND-BREAKING CHANGE, BUT NOT EVERYONE IS READY
Sweeping new rules to inject competition into securities trading come into force tomorrow as the European Union takes a significant step towards the creation of a financial services market without internal borders. The pan-European legislation – the Markets in Financial Services Directive (MiFID) – is designed to increase opportunities for investment firms, banks and exchanges to provide services in other countries while reducing costs and providing a greater degree of protection for investors.
EU Securities Trading Rule Changes

LIBERIA: WORLD BANK CLEARS DEBT
The Executive Mansion has announced on Tuesday that the World Bank debt relief for Liberia was finished. Deputy presidential press secretary Charles Nelson did not give the amount involve. But he said upon the return of Finance Minister Antoinette Sayeh from the United States, the amount and other details would be made public.
http://allafrica.com/stories/200710310615.html

DEUTSCHE BANK DODGES DISASTER FROM US SUB-PRIME CRISIS
Deutsche Bank, the top German bank, seems to be weathering the global financial crisis better than rivals, posting stronger third quarter net profit Wednesday despite the US mortgage meltdown. Its results came in contrast to those of UBS, Merrill Lynch and Citigroup, which have been hit hard by the fallout from the US subprime home loan market collapse.
http://afp.google.com/article/ALeqM5gaAB7IptLZzlDRc2YjbdzIjI4zZg

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HUGE MONEY-LAUNDERING RING IN DUBAI SMASHED
Police have referred more than 40 suspects to the Public Prosecution department on charges of money laundering and aiding and abetting drug trafficking in a police operation dubbed Cancer.
Dubai Money-Laundering Ring Smashed

VOTE OF CONFIDENCE
The choice of Bahrain as the venue for the first Fund Forum Middle East 2007 is a massive vote of confidence for the kingdom. Bring the event to Bahrain rather than any other regional centre was not a decision taken lightly by organizers International Centre for Business Finance.
http://www.gulf-daily-news.com/Story.asp?Article=198325&Sn=BUSI&IssueID=30225

CRIME ACTION TASK FORCE TO FOCUS ON CRIME SITUATION
The government of St. Maarten, in preparation for accepting new responsibilities in the areas of justice as a country, is in the process of establishing a Crime Action Task Force under the chairmanship of former Minister of the Interior and Constitutional Affairs Richard Gibson. It is the intention to include all investigative and prosecution institutions in St. Maarten.
http://www.thedailyherald.com/news/daily/k142/crime142.html

NEW ZEALAND INCOME TAX BILL APPROVED
Finance Minister Michael Cullen and Revenue Minister Peter Dunne have hailed the passage of legislation which rewrites New Zealand’s income tax law. Commenting on the approval of the nearly 3000-page Income Tax Bill by parliament on October 25, the ministers stated that the bill is the culmination of 15 years’ work to rewrite the Income Tax Act, and was “a massive achievement for the many people who have been involved in the project over the years.”
New Zealand Income Tax Bill Approved 

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