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Rheinbund

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Wirtschaftsministerium — Ministero dell' economia
Trier, Eiffelland-Retalien — Treviri, Eiffellandia-Retalia


Well, we have been open to a compromise, so that Folxmashin could function as a car company. Unfortunately, the government of Polesia and the board of directors of Folxmashin decided to persist in their chosen path. We will proceed as indicated: The total boycott against Polesia remains in effect, and our industries will prosecute against the Polesian industries in each and every country where it plans to market copies of Eiffelloretalian products or Eiffelloretalian techniques under patent.
These measures remain in effect until the complete Polesian industry stops producing copies of our products.
However, we are open for providing licences to Polesian companies under which they can manufacture Eiffelloretalian products. The Eiffelloretalian car industry is also willing to provide the rights for producing older car models with older techniques.

Dr. Habil. Ariel Rubinstein, Minister of Economic Affairs
 

Rheinbund

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Kanzleramt — Ufficio di Cancelliere
Trier, Eiffelland-Retalien — Treviri, Eiffellandia-Retalia


As a sign of goodwill, the Government of Eiffelland-Retalia will lift the total boycott of Polesian products for the duration of the conference in Belgarsk. However, the boycott against products of Folxmashin and any other products that are clearly copies of Eiffelloretalian products will remain in effect. Furthermore, we will continue with legal proceedings against the Polesian industries in countries where they sell or intend to sell copies of our products.

Roland Rheinfeld, Chancellor
 

Rheinbund

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Automotive companies Eiffelland-Retalia start lawsuit in Kashtan against Folxmashin for copyright infringements

The Eiffelloretalian companies Darner Werke, EKW and Raimer have started a lawsuit in Kashtan against the Polesian company Folxmashin for copyright infringements. The goal of the lawsuit is to get compensation for all the cars sold in Kashtan by Folxmashin, as well as a prohibition to market Folxmashin cars in Kashtan. Spokespersons of Darner Werke, EK and Raimer indicated that they intend to prosecute against Folxmashin until the cars that are copies of Eiffelloretalian car models have been taken off the market in Kashtan.
 

Socialist Commonwealth

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Markets normalize after Eiffellandian flip-flopping on Polesian imports, but investors remain cautious
AP Trier

Markets have normalized after a sudden announcement made by Eiffello-Retalian authorities that imports from Polesia would be placed under a general embargo had sent stock markets into a panicked frenzy. While Polesia remains a comparatively small market, the drastic measure and its immediate implementation without forewarning had thrown a destructive wrench into those companies that do trade with the eastern Germanian nation and spread insecurity even to companies who don't. Authorities in Eiffelland-Retalia had announced that all products produced by Polesian companies would be banned, following accusations against Polesian automobile manufacturers that they had copied Eiffellandian designs.

Within less than twenty-four hours, Eifelland-Retalia had rescinded their total embargo, announcing instead that only those products accused of being illegal copies of domestic technology would be affected. While this measure has eased the impact the drastic step had on local markets, the sudden flip-flopping on policy has done little to engender confidence and trust by investors in the Eiffell-Retalian government, some of which still are preparing legal battles over monetary losses incurred in the wake of the announcement.

Likewise, foreign governments have expressed their concern with the stance of the Eiffel-Retalian government. With the war in Burgundy and regional powers gathered in Kadikistan to find a joint response to it, the measure had been lambasted as politically destabilizing and even termed a trade war. Other objections concerned the Eiffel-Retalian authorities placing the burden of proof upon foreign actors and demanding foreign companies to actively prove that they are not using Eiffel-Retalian technology. The government of the Socialist World Republic even had the ambassador in Deliverance summoned to clarify whether this was a general policy or one concerning solely the Polesian nation and expressed their concern, regardless, that this was undermining legal standards through application of political force.

Eiffellandian car manufacturers like Raimer and EKW, however, seem content with the forceful reaction of their government and it remains to be seen whether Eiffelland-Retalia wishes to curry favor with their domestic companies and continue with its current policy or whether it seeks to regain the trust of foreign investors and tread more carefully in the future, leaving the legal disputes to the courts.
 

Socialist Commonwealth

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Congress of the SWR votes against new tariffs
AP Deliverance

The hotly contested bill introduced to congress by President Donna Trumm, calling for new tariffs on trade with nations of the Thaumantic Domain, has failed to pass. The Social Democratic majority in both chambers has denied their vote to the bill, sending it back to the President to either adjust it or drop it. While Donna Trumm, currently on a global diplomatic tour, has not yet commented on the issue, it is expected that the bill will be reintroduced in some capacity for a new round of voting.

In its current form the bill would have raised tariffs on numerous imports and exports from and to the Thaumantic Domain, ranging from grains to advanced electronics. Proponents of the bill had pointed to the ongoing war in Burgundy and the "Human Commodity System" present in Engell nations to argue a moral obligation to sanction Engell countries, as well as noting the ongoing stagnation in a number of key industries in the SWR. Opponents had claimed damage to SWR foreign trade and relations and raised the specter of a trade war.

Thusfar, reactions from Engell states had been muted. Speculations are abound whether this is due to succesful diplomatic overtures from President Trumm during her recent visits, or the anticipation by Engell states that the bill would be unable to pass congress.
 

Ebria

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Folxmashin success hits Natalian auto industry
AP Camp Hill

The Natalian automobile industry, dominated by the locally produced and designed Hartnett Auto, has reported a big slowdown in sales, especially in the Gallo-Germanian market for the last month. This has been a detrimental loss for the efforts in the government in Camp Hill to push for a diversification of the country's economy.

The main short term reason for this slowdown in sales in Gallo-Germania seems to be the launch of the Polesian made Folxmashin, a brand that is quite controversial as it sells rip-offs of the Eiffellandian Volkswagen. Even so, the VM has seen a successful launch, as it came in a period in which Natalian brands were missing from the Gallo-Germanian dealerships, mostly because of logistics disruptions during and in the immediate aftermath the Long Sea crisis.

With many reviewers presenting the Volxmashin as a car as good as the Volkswagen, with the main difference being it's affordable price, it was clear that it's launch will e a success especially in markets that don't have the same capital as the Eiffellander, Retalian or Larsian ones, such as Friuli, Nitra, Kadikistan, Serenierre, Elben and Gunnland. Some Eiffellanders have condemned the said reviewers for being bribed into commending the Volxmashin, but as of yet nothing has come out of it and it's success will make it even harder for VW or Trier to stop what they see as unlawful rip-offs of Eiffellander patents. There has been an even more worrying trend on the blackmarket for smugglers to buy Volxmashin cars and just replace the logo to a Volkswagen one and then selling the car at higher prices.

Depending on how the row between Trier and Amstov will go, the Natalian automobile industry, especially Hartnett Auto will stand to either suffer even more or return to normal. While Natal is still enjoying a very small economy growth, much of it comes from the mining industry and from the recent public projects which have reduced unemployement. It's strategy to diversify the economy is in dire need of an extremely successful automobile industry, but the recent developments have brought a reduction in care sales in the last quarter, the first one in the decade and may spell even more problems for the future.
 
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Rheinbund

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Eiffelloretalian car industry sues Volksmashin for selling copies of cars in Natal and files for seizure of Polesian assets in Natal

The Eiffelloretalian car companies Darner Werke and Raimer sued the Polesian car company Volksmashin before the court in Natal for selling copies of the DW Solano, DW Alisio and Raimer Pamir in Natal. Spokespersons of the companies indicated that "Volksmashincan clearly violates our copyrights". "We have tried to reach an agreement with Volksmashin that would give the company a chance to start in a legal way, but the management of Volksmashin rejected all our proposals and is not willing to discuss the matter with us. We have no other choice than to file a complaint against Volksmashin and demand the prohibition of selling Volksmashin cars in Natal," as indicated by Darner Werke and Raimer.
In a separate lawsuit, Darner Werke and Raimer demanded the seizure of assets and bank accounts possessed by Volksmashin and the owners of Volksmashin, until the damage inflicted upon the Eiffelloretalian car industry by Volksmashin has been determined and a compensation for said damage has been paid to the Eiffelloretalian car industry.
A third series of lawsuits has been started against the individual dealers of Volksmashin, in which the freezing of bank accounts and the seizure of assets are demanded as well.


Polesian assets in Eiffelland-Retalia seized

After the Eiffelloretalian companies Darner Werke and Raimer won a lawsuit against Volksmashin and the government of Polesia, the Kreisgericht Trier ordered to seize Polesian assets of and freeze Polesian bank accounts in Eiffelland-Retalia. The assets and bank accounts affected are the ones from Volksmashin and the owners of Volksmashin.


OOC: For the record: I only produced the DW Solano, DW Alisio and Raimer Pamir in Trivodnia. Therefore, I think that only the plans for those cars are in the hands of Volksmashin. Or am I overlooking something?
 

Pelasgia

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Thalassinos & Koufos LLP
12 Vasileon Ave., Propontis, Pelasgia

To whom it may concern,

As world's foremost specialists in international private law, we would like to offer our services to Darner Werke and Raimer in their ongoing case against Volksmashin. Apart from representation in curiam, we also offer advisory services and support in a variety of specialised fields, covering the law of various jurisdictions across Europe, as well as comparative and international law.

Signed,
Βασίλειος Σοφιανός

Vasileios Sophianos
Chairman
 

Rheinbund

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Darner Werke A.G.
Raimer A.G.


We would indeed very much like to hire Thalassinos & Koufos LLP in our case against Volksmashin. This will be a very lengthy and complex case, for which we need specialised knowledge.

Reinhard Darner, CEO of Darner Werke
Horst Raimer, CEO of Raimer
 

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Rumours of Hartnett lobbying for Folxmashin boycotts in Himyar
AP Camp Hill

After the Natalian Automobile industry has reported a stagnation in the 2nd Quarter of the year because of the large success of the newly launched Folxmashin and it's sales in Germania-Gallia, the socialist block and nowadays even in the Anti-State, rumours are now coming from Himyar that Hartnett Auto has started a lobbying campaign in the biggest franchises of car dealerships to boycott the sale of Folxmashin.

As of yet, the Eiffellandian government has sued the producer, Folxmashin for copyright infringement and is actively pushing for the emergency withdrawal of the cars sold in dealerships all over Europe. In their latest move, Tirer has pushed Natal to freeze the assets of the People's Republic of Polesia, in what the Natalian ambassador in Eiffelland called a "publicity stunt".

The Natalian government has kept itself quiet on the matter, especially because Kadikistan is a large importer of Natalian goods and a target of investment of the Engell-Natalian Conglomerate and feel that there is much more to lose if they start a war siding with Trier on this matter, than to simply ignore the issue.

Even so, the Natalian government hasn't just sat and waited to see how things developed and it seems to have started a continental wide lobbying campaign, with some rumours, which as of yet haven't been proved, describing it as going as far as to bribe or threaten car dealership franchises in Natal, Dune Sea, Port Stanley, Azraq, Cabaon and Pelasgia to boycott Folxmashin products as a way of defending the Hartnett sales in Himyar, not wanting to see the Gallo-Germanian episode repeat, especially in their home continent.

"I think it is a losing battle of Trier against Folxmashin. They will not win this, as much as their push official dealerships to not sell the Polesian car. In the end, what they'll do will be to push it in the underground and the smuggling problem that will ensue will be even worse than what they face now," stated Amaye kaVusi, economical analyst.
 

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Federal Bank of the SWR lowers exchange rates
AP Deliverance

The Federal Bank of the Socialist World Republic has announced lowering the exchange rate of the Dollar, now billing it at 0.74 Euromark. This is a substantial drop from previous exchange rates of one dollar to 0.82 Euromark, but doesn't come entirely unexpected, as President Trumm had already made mention of this measure during her election campaign and since repeatedly pressured the Federal Bank to take the step. Albeit independent from direct Presidential control, the Federal Bank of the SWR has a duty to support the economic policy of the government.

Reasons given for the decision thus were the strenghtening of a languishing domestic industry and improving competitiveness with foreign business on export markets. The new exchange rate is bound to make goods from the World Republic cheaper on the global market, while restricting purchasing power of consumers in the World Republic when it comes to imported goods.
 

Imimoya

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Economic Office of the Governorate of Marsilia
Economy and finance

The Legislative Council of Marsilia recently settled is already overworked a few weeks after the elections. The New Parliament is overloaded with work not so much from the recent accession to the Grand Duchy of Lars, but from the package of economic and social laws called "Marsialia di Domani" which is coming.

The law package provides first of all for the intruding of a Land reform law. The reform would go to buy the large land holdings in the hands of the Occitan nobility at market price to deliver them to the municipality and the community. The land is a good commodity for a city-state like Marseille and the feudal system is a limit to the reconstruction of Marsilia.

The second package of laws concerns the antitrust rules which will be legal rules which are designed to protect competition on the economic markets. This package will help transform the closed economy of Marsilia into a market economy, allowing the city to compete in the single economy zone of the Long Sea and world.

The last package concerns the tax reform, a heavy reduction of taxes to companies as well as a large investment in the medium-long range infrastructure, with the creation of a system of infrastructure of "friendly" ports and airports in the plan called "Long Sea Road" .
 

Kingdom of Curlanie

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Saubagne to Offer Municipal Bonds

The City Council approved on Friday nearly 3 billion Cour in city bonds.

Curlanie's capital city has suffered from three years of deficits, mostly from the public pension scheme. The bond sale would also cover infrastructure and other investments.

The city's budget is partially overseen by a parliamentary committee, which submits a proposal for partial government funding. The city is expected to see a 1.4bn Cour shortfall in funding compared to the previous fiscal year.

 

Rheinbund

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Eiffelloretalian car industry takes additional measures against illegal copying of Eiffelloretalian cars

The Eiffelloretalian car industry announced additional measures against the illegal copying of its cars. Effective immediately, all new Eiffelloretalian cars will be equipped with special chips that make the cars recognisable as authentic Eiffelloretalian products. Furthermore, the chassisnumbers of Eiffelloretalian cars declared total loss or scrapped for other reasons wherever in the world will be collected by the Eiffelloretalian car industry to prevent re-use of chassisnumbers on rebranded Folxmashin cars. This system is already in place in Eiffelland-Retalia to prevent the re-use of chassisnumbers on stolen cars, but now it is rolled out worldwide. The Eiffelloretalian car industry calls upon all the nations in the world to give notice of Eiffelloretalian cars declared total loss or scrapped for other reasons, and provide the chassisnumbers of those cars. These numbers will go into a database to ease checking whether a chassisnumber is authentic or not.
Meanwhile, the worldwide legal proceedings against Folxmashin and its dealer network continue. The Eiffelloretalian car industry also contacted Hartnett and the government of Natal to join the latter's lobby in Hymiar to boycott Folxmashin cars, and is taking action against gangs rebranding Folxmashin cars as Eiffelloretalian cars. One of those actions is taking the production of car emblems in its own hands, so that smuggling gangs cannot get access to new car emblems. Breaking emblems from existing cars wouldn't do the trick; given the way the emblems are glued to the cars, it is impossible to get them off without destroying them.
The damage caused by Folxmashin's copying action needs to be nuanced, by the way. Given the fact that only the DW Alisio, the DW Solano and the Raimer Pamir were produced in Trivodnia, Folxmashin only had the plans for those cars at its disposal. As a result, it only produces copies of those three cars.


Government Eiffelland-Retalia announces boycott against Folxmashin; rumoured to lobby for worldwide boycott Folxmashin

The government of Eiffelland-Retalia announced a boycott against Folxmashin and additional measures against other Polesian industrial branches. Effective immediately, all Polesian industrial products will be subjected to thorough investigations to find out whether they are not illegal copies of existing industrial products, before they can enter the Eiffelloretalian market. This is said to lead to a delay in the approval of Polesian industrial products to the Eiffelloretalian market of several months. Industrial products imported into Eiffelland-Retalia are already subject to quality investigations (nobody wants its new bread toaster to melt or burn upon the first use), but the ones to be applied to Polesian products will be extra thorough.
Furthermore, Folxmashin will be boycotted completely. This boycott goes so far that it is not even allowed to drive a Folxmashin car in Eiffelland-Retalia or take it into the country by trailer or train, even if it was bought abroad. People driving a Folxmashin or riding it into the country by trailer or train risk fines between 5000 and 50,000 Unionsmark, or the confisquation of the car.
Rumours go that the government of Eiffelland-Retalia and the Eiffelloretalian car industry are following the example of Hartnett and the government of Natal: To lobby for a boycott against Volksmashin, but then worldwide.


Government Eiffelland-Retalia and Unionsbank act against counterfeit coiners

The government of Eiffelland-Retalia and the Unionsbank announced in a press conference that it is taking action against counterfeit coiners. The Eiffelloretalian banknotes have a lot of very advanced authenticity markers, making it very difficult to copy them. The Unionsbank is currently emphasising in a campaign where to find the authenticity markers, and is working on adding more authenticity markers to the banknotes and coins.
Meanwhile, the police are intensifying the the tracing down of counterfeit coiners.
 

Vrijpoort

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Nedernesian Economy Contracts in Second Quarter
AP Vrijpoort

Official numbers from Statistics Nedernesia display negative growth in the world's freest economy with economists putting the official contraction at -0.2%. The second quarter (April - June) saw increased fuel prices, lower consumer demand at home, lower orders in light industries, fewer flights flown, sluggish demand for shipping and transshipment and lower revenues in the financial and insurance service sectors.

This is the first quarter in over 5 years where negative growth has been registered with the outlook for Q3 is even worse. The Reserve Bank of Nedernesia, the country's central bank, released its growth forecast for the third quarter (July - September) at
-0,7%.

If the forecast holds true, two consecutive quarters of negative growth would mean the country has officially entered a recession.

Nedernesian businesses with international operations have also reported slower growth and lower revenues. Many of these multinational corporations based in Nedernesia (Standard Chartered Bank, KLM Airways, NedFoods, NedPost, UPS, Royal Banking Corporation of Himyar, NedTel, Zeeland Shipping, PetroPlast, Staatolie, NedBurger, etc.) are considered bellwethers of general economic conditions globally. In the past when they experience slumps all at the same time, so does the global economy.

Some analysts believe the Reserve Bank's forecast is too conservative. Forecasters at Roseman Schlumberger, a bank, are predicting a contraction of -1,1% in Nedernesia and global contraction at between -0,4 and -1%. They cite the spiraling war in Burgundy, disruption to shipping in the Engelsea, unresolved tensions in the Long Sea, recent events in Nzadiland and Natal that could effect the relatively calm Himyari economies and the 'Gang of Five' legal drama in Nedernesia that led to threats that spooked the world's largest stock exchange and the ensuing ripple effects.

Trading in Vrijpoort reacted as expected to the news with the Vrijpoort Securities Exchange down over
-1% and the price of gold breaking through 8,000 Guilders (1,000 Euromarks) per 28 grams (1 ounce). Investors have been pouring into bonds and the Salean Thaler, which has become a new safe-haven currency.

Global markets were also down on Friday with the exception of Strathclyde.
 

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Nedernesian Bank Sees Opportunity in Agriculture Lending in Brazul
AP Vrijpoort

With agri-lending services in Brazul, the world's bread basket, in disarray, Nedernesian banks and lenders are eyeing the market as a potential new source of revenue. Led by Zwartsteen Agri-Credit, a large Nedernesian bank that specialises in agricultural loans and other financial products, both large and small scale farms in Brazul are being targeted with adverts for brand new loans and financial products to meet their unique needs.

In an interview with het financiële dagblaad of Nedernesia, Zwartsteen Agri-Credit's CEO and founder, Pieter Zwartsteen, spoke of his firm's work in Brazul: 'We see a future in agri-business in Brazul. This is one of the world's largest crop and food producers and it needs stable financial services for its farmers, whether they are large corporate farms or single-family farms with small plots. We have a product for everyone and we are very excited to be expanding into this huge market with so much potential'.

From micro loans to large-scale lending products backed by multiple banks, Nedernesian banks are offering loans in both the local Brazulian currency as well as Nedernesian guilders.

With the agricultural lending sector saturated in Scania and Gallia-Germania, and with Himyar having a less developed farming industry and different needs, many analysts are calling 2020 the beginning of a new agricultural dawn in Brazul. That assumes the loans spur the necessary innovation and growth in Brazulian farming and the loans are repaid.
 

Ebria

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Kores Theron shows support for the use of the Veld as a tender in the Dune Sea
AP Hartstad

Long time member of the board of directors of the FIC, the Federal Investment Corporation and now minister of commerce in the Hyena cabinet of Percy Emmet Kachipande, Kores Theros has been seen as an influential character in the economical development of Natal in recent years. Known for his courage to go into risky investments, he was the biggest supporter of Natalian investments into the Kadikistani free economic zones, which as of now can be regarded as a success both by Hartstad and by Ivar, and has been the architect of the economical cooperation between Natal and Cabaon and Loago, as per his push to ease trade and internationalise it, both countries have adopted the Veld as their legal tender, besides their national currencies.

In a recent statement, considering the close economic ties between the Commonwealth of the Dune Sea and the Federation of Natal, Kores Theron has stated that trade between the two might be eased and many of the businesses which supply themselves from Natal might save up more money if the Dune Sea will follow the example of Cabaon and Loago and adopt the Veld as a legal tender, to work in parallel with it's national one. Natal is the biggest and most important trading partner of the Dune Sea, with about 71% of the Dune Sea's total intra-Himyari trade going and coming from Natal. However, since 2017, trade has slowed down by about 3%, while the commercial exchanges done by the Dune Sea with Port Stanley have more than doubled.

Some of the critics of the current government and of Mr. Theron especially have described this proposal as part of Hartstad's campaign to gain economic hegemony over the continent, while supporters for the internationalisation of trade have stated their support of the idea that a single currency will help intra-Himyari trade and will aid a lot in easing commerce.

The National Bank of Central Himyar didn't give an official statement yet, but for quite some time, some members of it's board of directors have stated that if the Dune Sea would adopt the Veld as a legal tender, it will be an enormous help to every business that supplies itself from Natal.
 

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Tergest Investments steps in on Bondance
AP Grau

In an attempt to stop the way downwards of Bondance, the main Friulian traditional food producer and only relevant exporter. the Tergest Investments bank decided to buy a few shares in a shy attempt to show confidence in the new Managing Director, Marie Ğuse.
The company value has increased for now, but it remains to be seen if this will be the end of its downturn, or just the last gasps of a dying company.
 

Brazul

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Nedernesian Banks Face Obstacles On Brazulian Market
AP Liberdade

Nedernesian banks who have sought to expand into Brazulian markets have faced stiff opposition over the course of the last weeks. After reports had surfaced that Brazulian banks were purposefully bankrupting small landowners in order to force them to sell their land - charges that have been denied vocally by Brazulian bankers - Nedernesian companies led by Zwartsteen Agri-Credit began targeting Brazulian farmers with custom tailored loans, hoping to tap into a market that had been purposefully left untouched by their Brazulian competitors.

Stock markets seemed to share the Nedernesian confidence and stock values for the companies in question rose, while Brazulian banks had been on a slow, but lasting downward spiral ever since the reports first broke. The Brazulian agricultural market is large, even though the country is a net importer of staple foods and soil quality tends to be poor in most parts of the country, the sheer size of the country and the focus on a number of profitable cashcrops in large parts of the sector have continually promised fair dividends.

However, with the Brazulian oligopoly united against outside interference, Nedernesian banks have faced difficulties in actually reaching their customers. Brazulian media has not taken particular notice of the Nedernesian plans, choosing not to report their existence outside of a few articles in specialized economist press, while media companies associated with major Brazulian banks - meaning almost all of Brazulian media - has not accepted ads for the Nedernesian credit schemes. Brazulian banks are furthermore not accomodating the Nedernesian loans, meaning that even those Brazulian farmers who have heard of the product will have profound difficulty actually setting up and signing a contract.
 

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Santa Cruz lowers taxes to attract investors in the Free Zones
AP Santa Cruz

An emergency decree signed this morning by Consul Roberto Campos Tamayo, the head of the Civic Front and the government of the Confederation of Entre Rios will enforce a series of tax cuts that will take effect from the 1st of January 2020 in the Free Zones.

The Free Zones, emcompassing the metropolitan areas of the cities of Santa Cruz, San Sebastian, Aitabamba, Suarez, Patacamaya and the mining regions of Valle de Plata and Barranca Brumoso in the Sierra Dorada, were created in 1997 by Diego Miralles Seco, the previous Consul, a supporter of the liberalisation of the protectionist and corporatist economy of Entre Rios.

The decree is set to reduce corporate and income taxes for the next ten years for new companies opening up and new investments done in the free zone, cutting down the corporate tax from 30% to 20% and the income tax from the previous 27% to 22%. The government hopes that with this change it can attract new investment in the free zones and with it to slow down the current downturn of the economy of the confederation.

Probably the most important element of the decree is the liberalisation of the financial services in those Free Zones, with the state allowing foreign banks to operate there for the first time since 1968. Currently, only the state owned Banco Occidental, Banco de Commercio Confederato and the jointly owned with the Vaquero Free State, the Banco Panaurarino operate inside the country, with the former two being created in 1968 after the nationalisations of the privately owned banks immediately after the beginning of the Civic Procress.

Some are seeing this as an important step for the further liberalisation of the Entrerriano economy, while others are very sceptical, being afraid of corporate practices, especially now that the Brazulian banks and their practices are under the eyes of the world.
 
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