Gold

Ignorance about the movement of illicit money

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Ignorance about the movement of illicit money

The Cypriot State lacks absolute control over private funds and assets transferred to the country, which may be linked to illegal activities. Finance Minister Makis Keravnos recently failed to provide clear information on the amounts of liquid assets carried by travelers using private flights to and from Cyprus, despite being questioned by a Member of Parliament. This issue has been highlighted amidst concerns about money laundering in the country.

A hidden factor impacting gold, and it ain, ’t CPI

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A hidden factor impacting gold, and it ain, ’t CPI

Gold prices are fluctuating as traders speculate on a potential rate cut by the Federal Reserve in September. Inflation data in the US is showing signs of improvement, impacting the Fed’s monetary policy decisions. Smart money is paying attention to the shift from a dollar-denominated trade system, with countries like China and Russia increasing their gold reserves to support their currencies. The price of gold is approaching all-time highs and is expected to continue its upward trend as long as it stays above the 50-day simple moving average.

Jury may be chosen soon for US Senator Menendez, ’s corruption trial

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Jury may be chosen soon for US Senator Menendez, ’s corruption trial

Jurors could be seated as soon as Wednesday to determine whether Democratic U.S. Senator Robert Menendez of New Jersey broke the law in a bribery scheme involving Egypt’s and Qatar’s governments.

Palestinians mark 1948 Nakba in the shadow of war in Gaza

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Palestinians mark 1948 Nakba in the shadow of war in Gaza

Palestinians commemorated the 1948 “Nakba” on Wednesday, marking the time when hundreds of thousands were dispossessed of their homes in the war at the birth of the state of Israel. The Nakba has been a defining experience for Palestinians for more than 75 years, shaping their national identity. This year’s commemoration focused on the plight of around two million Palestinians in Gaza, most living in temporary shelters after being displaced by the Israeli campaign. More than 5.9 million Palestinians are currently registered as refugees in various locations, including refugee camps that have grown into urban townships. Events marking the Nakba anniversary were also held in Ramallah, where a student was killed in a clash with Israeli forces.

Judge struggles to find jurors for US Senator Menendez, ’s corruption trial

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Judge struggles to find jurors for US Senator Menendez, ’s corruption trial

The judge overseeing U.S. Senator Robert Menendez’s corruption trial struggled to find impartial jurors due to bias towards law enforcement and cooperating government witnesses.

US Senator Robert Menendez goes on trial for corruption, no jurors chosen

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US Senator Robert Menendez goes on trial for corruption, no jurors chosen

Jury selection began in the corruption trial of U.S. Senator Robert Menendez, who faces 16 criminal charges including bribery, fraud, obstruction, and acting as a foreign agent.

Gold extends rally near $2,360 amid geopolitical risks

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Gold extends rally near $2,360 amid geopolitical risks

The price of gold (XAUUSD) rose to ,360 due to rising geopolitical tensions in the Middle East, boosting safe-haven flows.

Serial Paphos burglary suspects remanded

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Serial Paphos burglary suspects remanded

Three people from Paphos were arrested on suspicion of carrying out 20 burglaries. A total of €865,000 worth of goods had been stolen over the course of three and a half years.

Karaiskakio, Ayia Napa Marina to co-host charity dinner

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Karaiskakio, Ayia Napa Marina to co-host charity dinner

Fact: The Karaiskakio Foundation and Ayia Napa Marina are co-organizing “The Glowmorous Dinner” charity event featuring Greek singer Despina Vandi on June 21, 2024, to raise funds for the Foundation’s specialized Children’s Cancer Centre.

Rising Share of Personal Income Tax and Indirect Tax

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Rising Share of Personal Income Tax and Indirect Tax

– The collection of personal income tax and indirect taxes has increased, while collections from corporate taxes have reduced.
– India’s net direct tax collections grew 17.7% in 2023-24 to hit Rs.19.58 lakh crores.
– The share of corporate taxes contribution to overall tax collection dipped to 46.5% from 49.6% in 2022-23.
– Indirect taxes, including union excise duties and the Goods and Services Tax, have increased from 2010-11 onwards.
– The majority of individuals filing personal income tax have an annual income ranging from Rs 1 lakh to Rs. 5 lakh.
– India has among the highest effective personal income tax rates among BRICS economies.
– Rising share of personal income tax and indirect taxes can lead to income inequality, consumer burden, economic inefficiency, tax evasion, and macroeconomic instability.