Globalization on the rocks

https://www.project-syndicate.org/commentary/globalization-political-fault-lines-by-nouriel-roubini-2016-07

ISIS: good news: major ISIS leader killed

http://nbcnews.to/2cp4iRk

Turkmenistan offers natursl gas to EU

Turkmen president mulls gas deliveries to the EU http://dw.com/p/1Jrog

EU, Germany, Angela Merkel still the worlds No 1 female politician

Merkel confident about overcoming refugee crisis, Turkey dilemma http://dw.com/p/1JrNs

Summer: Netherlands lifeguards called to 700 rescues in one warm week - by Janene Pieters

 During the last blast of summer weather this week in the Netherlands, lifeguards had to rescue or help at least 700 people. That number will increase as the week is not over yet and some stations haven’t submitted their figures, RTL Nieuws reports.

According to a spokesperson for the lifeguards association, most incidents were relatively harmless, such as bee or wasp stings. Twice someone had to be rescued from the water. Many people fell ill due to the heat. And dozens of kids were reunited with their parents on beaches.

During an average hot week lifeguards in the Netherlands help about a thousand people.

This week is the last week of summer holiday for many Dutch and the weather seems to be celebrating it. Meteorological institute KNMI issued a code yellow weather warning for persistent heat on Tuesday and keeps extending it. It is currently in effect for the whole country and will stay in effect until Sunday.

While the weekend will still be warm, with temperatures in the high 20’s, it will be more cloudy with a chance of showers. On Monday the weather takes a decided dip to afternoon temperatures around 21 degrees.

On Thursday Weeronline announced that this summer is in the top 10 of hottest summers in the Netherlands since temperature measurement started in De Bilt in 1901.



Read more: Netherlands lifeguards called to 700 rescues in one warm week - NL Times

EU Taxation Policies: US warns EU over Apple’s tax case

Is Apple cutting corners when paying taxes?

The US government has threatened the European Commission (EC) with retaliation if the body decides to proceed with its plan to demand millions of dollars in unpaid taxes from technology giant Apple.

The US Treasury Department issued a rare warning on Wednesday, August 24, accusing the Brussels-based body of becoming a “supranational tax authority” that poses a threat to international agreements concerning tax reform.

“The US Treasury Department continues to consider potential responses should the Commission continue its present course,” the Treasury said in its strongest language to date.

“A strongly preferred and mutually beneficial outcome would be a return to the system and practice of international tax cooperation that has long fostered cross-border investment between the United States and EU member states,” the warning added.

The European Union (EU) has been investigating a series of tax deals between Apple and Ireland which allow the iPhone maker to pay little or no tax on income earned across Europe.

The EC is expected to rule on the case next month. This is the biggest corporate tax avoidance investigation ever undertaken by the commission.

The EC is the executive body of the EU, responsible for implementing decisions, proposing legislation, upholding the EU treaties and managing the day-to-day business of the bloc.

According to investment bank JP Morgan, if Apple is forced to retroactively pay the Irish corporate tax rate of 12.5 percent on its pre-tax profits, the company might need to cash out as much as $19 billion.

A 2013 report by US Senate confirmed that Apple has paid little to no taxes on at least $74 billion of the profit it earned by exploiting Irish and American tax laws.

Tim Cook, who became Apple’s CEO after the death of its founder Steve Jobs five years ago, has denounced the case as “political crap.”

“There is no truth behind it,” he said. “Apple pays every tax dollar we owe.”

The EU estimates that tax avoidance by multinational corporations costs member states anywhere between $50 million to $78 billion a year in lost taxes.

In addition to Apple, other American companies like Amazon and Starbucks are also suspected of tax evasion.

Note EU-Digest: Hopefully the EU Commission does not cave-in for these US misguided threats and intimidations and tells the US Treasury Department where to shove this warning, which is protective of US corporate tax evaders.   

Read more: PressTV-US warns EU over Apple’s tax case

The Netherlands: Turkish economic delegation and roadshow welcomed in the Netherlands after failed coup attempt

A Turkish delegation headed by Economy Minister Nihat Zeybekci and a number of deputies from different political parties visited the Netherlands on Aug. 23 to spread the word of Turkey’s economic potentials, as well as provide information about the July 15 failed coup attempt and its after effects.

Accompanying Zeybekci on the visit were Justice and Development Party (AKP) MP Mehmet Muş, Republican People’s Party (CHP) MP Rıza Yalçınkaya, and Nationalist Movement Party (MHP) MP Arzu Erdem, as well as members of the country’s business and trade organizations.   

The head of the Industry and Business Confederation of the Netherlands, Hans de Boer, welcomed the delegation and asked for its members to ask their counterparts questions.

“Turkey’s economic performance is quite amazing and we have high expectations about the Turkish economy. Our bilateral trade and economic ties have amounted to be around $6 billion. Some questions have popped up in our minds about Turkey after the coup attempt. Please tell us what is happening in Turkey,” said de Boer.

Zeybekci said that Dutch businesspeople already knew Turkey very well, yet the delegation now needed to elaborate further after the July 15 coup attempt.

“Nothing has changed in Turkey for investors following the failed coup attempt. Our banking, commercial and economic activities continued without any interruption on the first Monday after the coup attempt, mainly on July 18. Our macroeconomic indicators are quite good, but some rating agencies downgraded our records without considering these facts,” he noted.

“We are here to tell what has happened in Turkey along with the members of the country’s leading nongovernmental business organizations and deputies both from the ruling political party and the opposition parties. All political parties were at the parliament when the coup plotters bombed it late July 15. This is recorded on the world’s democracy history. We now all know that our democracy has been under the protection of our people,” he added.

Calling Turkey a land of opportunity with a huge potential for foreign investment, Zeybekci said, “For many centuries Turkey has been at the center of trade, regions and cultures. Our country has the same importance in the current period.”       

Trade between the Netherlands and Turkey has tripled over the past decade, and the Netherlands is one of Turkey’s main investors. Many Dutch companies have branches in Turkey doing business in foodstuffs, energy and technology, among others.       

Zeybekci noted that trade and economic ties between Turkey and the Netherlands fell short of their potential, noting that he hoped this could be corrected in the years to come.

Read more: Turkish economic delegation welcomed in Netherlands in roadshow after failed coup attempt - BUSINESS