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May 13, 2008 | 14:21:37
Basque News and Information Channel

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FACTBOX

The Basque Tax System

The Basque tax system, which stems from the historic rights of the "Territorios Forales" or areas with special rights, allows the Basque region to collect almost all taxes making up the tax system itself.

TAX SYSTEM

EU Advocate General says Basque tax system within the law

Court of Justice of the European Communities. Photo: EiTB
The preliminary ruling of the advocate general of the European Court of Justice is not a definitive judgement but usually serves as a basis for most of the judgements of the court.

PROGENIKA

Progenika receives the keys to the city of Cambridge in U.S.

Progenika Biopharma S.A. has received during the official opening ceremony of its installations in Cambridge, MA, the key to the city from the Mayoress Denise Simmons herself.

"VIGILANCE"

ECB leaves its interest steady at 4 percent

ECB president has told reporters that the bank has left the rate unchanged in light of inflation in the 15-nation euro zone, which has risen has high as 3.6 percent this year before dipping back to 3.3 percent in April.

EURO

Slovakia ready to adopt the euro on Jan. 1, 2009

Euro coins. Photo: EFE
In a keenly awaited recommendation, the European Commission said the nation of 5.4 million people is ready to switch to the currency now shared by 15 states, crowning years of ambitious economic reforms in Slovakia.

BRENT

Oil stands firm after setting new record near $121 a barrel

U.S. light crude for June was up 7 cents at $120.04 a barrel, by 1155 GMT after earlier touching a record high of $120.93. London Brent crude was up 33 cents at $118.32 a barrel, after an earlier record of $119.07.

EUSTAT DATA

Basque industrial activity did not fluctuate in March 2008

As regards the previous month, February 2008, it rose by 0.1%

REBUFFED

Microsoft walks away from its bid to buy Yahoo

Microsoft's offer was for $33 a share but Yahoo would not lower its demand below $37. Analysts say Yahoo has overplayed its hand and they expect Yahho's shares to fall as much as 30 percent to $20 levels on Monday.

TEXT

Microsoft letter withdrawing Yahoo bid

Microsoft Corp walked away from its bid to buy Yahoo Inc on Saturday after the Internet company turned down its offer to raise the price by $5 billion to $47.5 billion.

HIGHER TAKEOVER BID

Microsoft boosts its Yahoo offer by "several dollars" per share

A person familiar with the matter says Microsoft upped its offer beyond the original value of $44.6 billion (euro28.85 billion), or $31 (euro20) per share on Friday.
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