investment

Bicommunal solar park , ‘valuable for all Cypriots’

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Bicommunal solar park , ‘valuable for all Cypriots’

– A bicommunal photovoltaic power plant would increase cooperation in the energy field and build trust.
– The European Commission is ready to help find solutions if there are diverging views and concerns.
– The aid programme supported by the EU paves the way for reunification.
– The Commission would need to undertake a comprehensive assessment of alignment with EU standards.
– The Green Line trade has almost quadrupled in 20 years, reaching over €16 million in 2023.
– The biggest challenge faced by Mario Nava in Cyprus is often to start dialogue on various matters.

PwC to become OpenAI, ’s largest enterprise customer

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PwC to become OpenAI, ’s largest enterprise customer

PwC will become the largest customer and first reseller of OpenAI’s enterprise product, ChatGPT Enterprise, for its employees in the US and UK.

Limassol Town Planning races to process thousands of pending applications

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Limassol Town Planning races to process thousands of pending applications

The Limassol District Town Planning Department is dealing with a backlog of roughly 3,500 applications as the deadline for transferring planning authority to the Limassol District Self-Government Organisation approaches. The surge in applications is driven by public anxiety and the desire to secure approvals before the transition. Despite the increased workload, the department is prioritizing clearing existing applications and preparing for the transition on June 10. An additional 1,000 applications are pending with the Limassol Municipality, which is also experiencing a similar surge.

CFA Society Cyprus Forum examines global economic outlook

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CFA Society Cyprus Forum examines global economic outlook

The CFA Society Cyprus organized an annual economic forum where the main topics of discussion were the financial outlook for the global economy and markets, as well as the key principles of financial forecasting. President Andreas Cleanthous highlighted the importance of financial forecasting in the investment process during the event.

Dubai, ’s sovereign wealth fund ICD posts 68 per cent jump in 2023 profit

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Dubai, ’s sovereign wealth fund ICD posts 68 per cent jump in 2023 profit

The Investment Corporation of Dubai reported a 68% increase in net profit in 2023, reaching a record high of 60.8 billion dirhams.

United States Tax Data Explorer

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United States Tax Data Explorer

The Tax Foundation’s International Tax Competitiveness Index (ITCI) measures the competitiveness of tax systems in 38 OECD countries based on low tax burdens on business investment and neutrality in tax codes.

Saudi Arabia sets up new Aramco share sale that could raise $13.1 billion

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Saudi Arabia sets up new Aramco share sale that could raise $13.1 billion

Saudi Arabia’s government filed papers to sell a new stake in state oil giant Aramco that could raise as much as .1 billion.

Russian FinMin introduces first corporate and personal tax hike in two decades

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Russian FinMin introduces first corporate and personal tax hike in two decades

Russia’s Finance Ministry has proposed amendments to the tax code, including raising corporate income taxes and introducing a progressive personal income tax scale. The changes are expected to be passed by the State Duma before autumn 2024 and come into force in 2025. The proposed changes include raising corporate income tax to 25%, reintroducing a 5% income tax rate for IT companies, and setting thresholds for the progressive personal income tax scale. The reforms are estimated to increase consolidated budget revenues by RUB2.6 trillion in 2025. Despite the changes, Russia’s progressive personal income tax remains modest compared to other BRICS countries. The implementation of a progressive income tax could have negative impacts on economic growth and macroeconomic indicators.

Why capital gains changes have some business owners looking at IPPs

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Why capital gains changes have some business owners looking at IPPs

Proposed changes to the capital gains inclusion rate in Canada are likely to make individual pension plans (IPPs) more attractive to certain business owners as retirement saving vehicles.