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Authorities in Saudi Arabia say they have seized half a tonne of ivory being smuggled from Africa to east Asia. Customs agents at King Khaled International Airport in Riyadh intercepted the shipment, which was in transit, the official SPA news agency said on Saturday.

A US clampdown on corporate tax reduction schemes - so-called inversions - will further underpin the strength of the dollar. The US government announced proposals in late September to make it harder for American companies to shift their tax bases abroad by acquiring other companies in jurisdictions with lower taxes.
Britain's independent budget watchdog said on Thursday it will work with tax authorities to look at how strong jobs growth but weak earnings have dented income tax revenues, before it makes new forecasts in December. Labour income accounts for more than 40 percent of Britain's tax revenue, and much of it has disappointed in the current 2014/15 financial year.
Former UBS banker Raoul Weil went on trial here on Tuesday, charged of conspiring to help Americans hide billions of dollars from US tax authorities. Impeccably dressed in a dark suit, Weil, who has pleaded not guilty, looked relaxed as his trial opened in federal court here with the selection of a 12-member jury. Prosecutors allege that the 54-year-old Swiss citizen helped US clients conceal an estimated $20 billion in assets from tax authorities between 2002 and 2007.
EU finance ministers took a major step towards ending banking secrecy on Tuesday, agreeing to the automatic exchange of account information so as to catch out tax cheats. Ministers had to face down early opposition by Luxembourg and Austria to approve a directive requiring banks to swap bank account information with tax authorities in other member countries.
Low prices and rising taxes may have clouded the outlook for KGHM's newly-opened mine in Chile, but the head of the Polish copper giant said Monday it will still be profitable. "The Chilean parliament raised corporate taxes from 20 to 27 percent, which impacts profitability but it's still possible that this will be our most profitable project," KGHM chief executive Herbert Wirth told Poland's Gazeta Wyborcza broadsheet daily.
China said on Saturday that it will institute a resource tax on coal of between 2 percent and 10 percent beginning on December 1, the first official numbers to be issued for the long-anticipated plan. The State Council, China's cabinet, said in September that the country would impose a new resource tax on coal and cancel a series of existing charges in a move to simplify the tax structure for struggling coal producers.


Index Closing Chg%
Arrow DJIA 16,461.32 0.92
Arrow Nasdaq 4,382.85 0.83
Arrow S&P 1,927.11 0.73
Arrow FTSE 6,399.73 0.43
Arrow DAX 8,940.14 0.60
Arrow CAC-40 4,105.09 0.58
Arrow Nikkei 15,195.77 2.64
Arrow H.Seng 23,403.97 1.37
Arrow Sensex 26,787.23 0.80

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln