UAE economy grew 4.3 per cent in fourth quarter of 2023
The United Arab Emirates’ economy grew 4.3% year-on-year in the fourth quarter of 2023, with non-oil GDP surging 6.7% in the same period.
insurance
Euros & Dollars: Bad Timing for Lithuania’s Tax Hikes
The Lithuanian Finance Ministry proposed increasing the corporate tax rate by one percentage point, hiking excise duty on fuel, and introducing a tax on some insurance contracts to raise additional funds for defense.
Finance Ministry proposes corporate, excise tax hikes to fund Lithuania’s defence
The Lithuanian Finance Ministry proposed raising additional funds for defense by increasing the corporate tax rate, hiking excise duty on fuel, and introducing a tax on some insurance contracts.
Other View: Biden tax plan would pummel average Americans
President Joe Biden’s 2025 budget blueprint includes plans to increase corporate taxes, which could ultimately cost low- and middle-income Americans more money than if their income tax rates were raised. The budget calls for record spending, soaring debt, and trillion-dollar deficits, despite promises not to increase taxes on those earning less than 0,000 a year. The plan is similar to Sen. Bernie Sanders’ approach and aims to target corporations, but economists argue that corporations pass on tax costs to consumers, impacting employees and investors, including those with pension plans and retirement accounts. Republicans may use these economic realities in the upcoming campaign.
BoC, ’s new ‘pronomia’ loyalty scheme rewards customer ties
Bank of Cyprus has introduced the first-ever loyalty scheme in Cyprus called ‘pronomia’ which rewards loyal customers with privileges and benefits based on their relationship with the bank and its subsidiaries.
Hellenic Bank champions green transition at Nicosia summit
The Green Agenda Cyprus Summit highlighted the vision and actions necessary for the green transition of the Cypriot economy. Hellenic Bank is committed to achieving carbon neutrality by 2050 and has set clear goals and indicators to reduce its environmental footprint. The bank offers specialized green products to combat climate change and improve energy efficiency. Cyprus Agriculture Minister introduced a pilot program for green roofs, and the Energy Minister expressed caution regarding hydrogen usage. European Commissioner for Climate Action emphasized Cyprus’ potential in renewable energy and the importance of investments in sustainable transport. European Commissioner for Health and Food Safety highlighted the health impacts of the climate crisis, including heatwaves and air pollution.
‘, Young Cypriots must balance short-term gains and future financial security’
Fact: Christopher Zachariou stresses the importance of selecting the right investment vehicles tailored to individual circumstances and advocates for the establishment of personal pension plans to supplement retirement income.
Putting order to the common expenses saga
The text discusses the issue of common expenses in buildings and the need for a common expenses association to address the problems caused by non-payment of these expenses. The association would have thousands of members and would aim to collect common expenses debts through legal means. The proposal includes the requirement for a certificate from the management committee before any property can be rented, sold, or mortgaged, and the possibility of assigning disputes to a special arbitrator.
NGO calls for greater Gesy oversight
The Cyprus Integrity Forum (CIF) called for systematic checks of Gesy to avoid corruption and ensure full transparency in the health system.
UAE corporate tax: Maximise benefits by enjoying exemptions and opting reliefs
Certain resident juridical persons, such as government entities, government-controlled entities, businesses engaged in natural resource extraction, those involved in non-extractive natural resource businesses, and natural persons with business revenue below Dh1 million in a Gregorian calendar year, are exempt from corporate tax.