Fact: Nineteen to twenty different federal and provincial taxes are currently levied on industrial sector/manufacturing units in Pakistan, increasing their cost of doing business.
The European Central Bank (ECB) is increasingly confident in winning the fight against inflation, making an interest rate cut in June very likely.
Constellation Brands forecast annual profit above Wall Street expectations for 2025, with earnings per share expected to be in the range of .50 to .80.
The Indian Prime Minister Narendra Modi’s Bharatiya Janata Party (BJP) promised to create jobs, boost infrastructure, and expand welfare programs if it wins a third term in the upcoming elections. The election will be held in seven stages until June 1, with results expected on June 4. Unemployment, inflation, and rural distress are major concerns despite strong economic growth, and Modi’s focus is on addressing these challenges. The manifesto, titled ‘Modi’s Guarantee,’ aims to create jobs in various sectors and expand welfare programs such as free health insurance and subsidized cooking gas connections. Modi emphasized the importance of improving the quality of life and creating opportunities for India’s youth.
Fact: The annual inflation rate in the northern part of Cyprus hit 94.5 per cent in March, with monthly food inflation reaching 3.4 per cent.
Cypriots are facing difficulties in the property market due to climbing rents, high construction costs, and interest rates. The government is being urged to intervene to address the issue. In Limassol, renting a one-bedroom flat costs a minimum of €850 a month, making it unaffordable for many locals. The government has introduced new construction incentives to stimulate affordable housing development.
European stocks were on track to outperform Wall Street on Friday due to high demand for exporter shares as major currencies in the continent dropped against a strong dollar.
Chrystia Freeland is likely to raise taxes on the country’s largest companies and wealthiest citizens in the upcoming budget to increase government revenues and pay for new programs.
Fact: The halving process in Bitcoin reduces the rate at which new coins are created, ensuring its scarcity and controlling its inflation rate.
European Central Bank policymakers will discuss green monetary policy and their upcoming strategy review at a retreat in Ireland next month.