Economy Briefs

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The release of the ruling Thursday is the latest development in a six-year contest and will likely next go to a WTO appeals panel.

In its ruling, the WTO says the EU has demonstrated the U.S. gave Boeing “export subsidies that are prohibited” and recommends the U.S. either withdraw them or “take steps to remove the adverse affects.”

The report details findings, which were first issued in private to the EU and U.S. in January.

TECHNOLOGY

Israeli-Palestinian duo opens fund for high-tech startups

JERUSALEM | A Harvard-educated Israeli businessman is teaming with some of the world’s leading business technology companies in what they say is the first investment fund for Palestinian high-tech startups.

Yadin Kaufmann and Palestinian software entrepreneur Saed Nashef said they have recruited an initial $28.7 million from companies like Google Inc. and Cisco Systems Inc.

Their aim is to boost the West Bank’s community of software entrepreneurs and build a robust economy for an eventual independent state.

The Sadara Fund, also called the Middle East Venture Capital Fund, has a list of high-profile backers including the EU’s European Investment Bank and an investment fund of billionaire George Soros.

IRS

Tax refunds average $3,000

The Internal Revenue Service expects to issue up to $300 billion in tax refunds this year.

IRS Commissioner Doug Shulman told Congress on Thursday the average federal tax refund is about $3,000 this year. The IRS has received a little more than 75 million returns so far, with about 65 million qualifying for refunds.

Mr. Shulman said the agency expects to issue refunds totaling $250 billion to $300 billion.

The filing deadline is April 18.

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