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17-04-2018, 03:07
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DUBLIN Nike Air Jordan For Sale , Sept. 5 (Xinhua) -- Credit rating agency Fitch said on Monday that the European Commission's Apple tax ruling has "mixed implications" for the country's sovereign credit profile.

In a statement, Fitch said the ruling could result in a substantial one-off improvement to Ireland's fiscal position, but may also add to medium-term economic uncertainty and increase political risks.

On Aug. 30, the European Commission said Apple should pay up to 13 billion euros (about 14.5 billion U.S. dollars) in taxes, plus interest, to the Irish government Nike Jordan Retro Shoes For Sale , because Apple's tax arrangements enabled it to pay less than other companies and were illegal under EU state aid rules.

Both the Irish government and Apple have said they will appeal the decision, a process that could take several years. The European Commission has said the amount could fall, depending on developments in other jurisdictions.

"If upheld, the European Commission's ruling would represent a substantial one-off fiscal windfall for Ireland," Fitch said.

"Excluding interest, the payment to the Irish government could amount to around 5.1 percent of 2015 GDP. If used to pay down debt andor reduce borrowing rather than spent Nike Jordan Retro For Sale , this would accelerate the improvement in public debt dynamics that has been driven by fiscal consolidation and robust nominal growth," it said.

The credit rating agency predicted Ireland's gross general government debt will fall to 63.7 percent of GDP in 2020, down from 78.7 percent in 2015.

"These do not factor in any impact from the Apple ruling but do incorporate the large upward revision to 2015 growth announced in July, mainly related to the reassessment of intangible assets of re-domiciled Irish companies and contract manufacturing," it said.

It also said any such benefit would be "partly offset by increased uncertainty over Ireland's attraction to global businesses potentially damaging FDI and employment."

But Fitch said this risk is "limited", because Ireland's low 12.5 percent corporate tax rate Nike Jordan Shoes For Sale , and its high human development and governance indicators should keep the business environment attractive to multinationals, and the costs of relocating would be large.

The credit rating agency said the Apple ruling could add to uncertainty created by the Brexit referendum, which it said will slow export and investment growth.

It said divisions within Prime Minister Enda Kenny's minority government have become more evident despite a cabinet decision on Friday to formally lodge an appeal against the European Commission.

This shows the challenge that the minority government faces in formulating and enacting policy, Fitch said, adding that it has already been outvoted in parliament on some minor economic issues since its formation in May.

"A more unstable political backdrop would add to fiscal and economic risks," it concluded.

MADRID Air Jordan Retro Shoes For Sale , May 20 (Xinhua) -- Spanish philosopher Emilio Lledo on Wednesday was named as the winner of the 2015 Princess of Asturias Award for communication and humanities.

The 87-year-old from the city of Seville was chosen ahead of 27 other candidates for the award, after the jury said they considered him to be a "thinker of international importance" who had followed an "exemplary" trajectory throughout his life.

"Lledo sees philosophy as a meditation about language and underlines the natural tendency that human beings have towards communication. His is a dialogue which impulses the relationship between freedom and democracy," added the jury.

Lledo studied in Madrid and Heidelberg, Germany and also taught in Germany and back in Spain at universities in Valladolid, Tenerife and Barcelona. Some of his best known works are "Philosophy and Language" (1971), "Language and History" (1978) and "Books and Freedom" (2013).

The Princess of Asturias Awards are the most prestigious in Spain and carry a 50 Air Jordan Retro For Sale ,000-euro (55,000 U.S. dollars) cash prize and a statue by artist Joan Miro, presented in a glamorous awards ceremony in the city of Oviedo in October.

They are given in eight different categories, including Arts, Social Sciences and Sport.

ADDIS ABABA, Sept. 6 (Xinhua) -- Ethiopia Air Jordan Shoes For Sale , east Africa's largest economy and most populous at 100 million people, is pursuing an ambitious industrialization development strategy.

One of the main parts of Ethiopia's industrialization drive is the textile and garment sector, which the government hopes will substantially boost export revenue while creating mass employment opportunities for Ethiopians.

Ethiopia's aim to earn 1 billion U.S. dollars from textile and garment production in several years' time may seem too ambitious, given the sector's revenue of only 89.3 million dollars in the fiscal year that ended on July 8, industry players are optimistic on the way forward.

The country is working on several fronts to increase revenue from the sector, said Bantiyhun Gesesse Air Jordan For Sale , corporate communications director at Ethiopia Textile Industry Development Institute.


While Ethiopia's export targets have failed on several benchmarks, industry insiders say the textile and garment sector is still on an optimistic trajectory.

Fasil Tadesse, president of Ethiopian Textile and Garment Manufacturing Association, said the handicap the sector faces can be solved with the provision of industrial zones.

"The proliferation of industrial parks overseen by Ethiopian Prime Minister Hailemariam Desalegn and Ethiopian Industrial Park Corporation Board Chairperson Arkebe Oqubay shows government commitment to textile and garment sector," he said.

Several industrial parks have been built and commissioned across Ethiopia, including the Hawassa Jordan Retro Shoes For Sale , Kombolcha and Mekelle industrial parks.

Hawassa Industrial Park was constructed at a cost of 246 million dollars, while Mekelle and Kombolc.
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