Companies

Who’s Left to Tax? Grappling With a Dwindling Shareholder Tax Base

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Who’s Left to Tax? Grappling With a Dwindling Shareholder Tax Base

– Foreign investors, retirement accounts, and other tax-exempt entities now dominate US stock ownership.
– At the end of 2022, foreign investors held the largest single block, 42 percent, of total outstanding US stock.
– Domestic retirement accounts are the next largest holder of US stock, accounting for 27 percent of the total.
– The share of outstanding US stock held in taxable brokerage and mutual fund accounts declined from 79 percent to 27 percent from 1965 to 2022.
– Policymakers must grapple with a relatively small and dwindling number of taxable accounts when seeking to increase shareholder taxes.

Ninety-three new projects to beat water shortage

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Ninety-three new projects to beat water shortage

A new desalination unit is being built in Moni in Limassol.

US lawmakers strike deal on data privacy legislation

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US lawmakers strike deal on data privacy legislation

Two key U.S. lawmakers reached a deal on draft bipartisan data privacy legislation that would restrict the data collected by technology companies and give Americans control over their personal information. The legislation would also allow individuals to prevent the selling of their personal data and compel its deletion. The bill would give the Federal Trade Commission and state attorneys general authority to oversee consumer privacy issues and establish enforcement mechanisms. The legislation does not ban targeted advertising but gives consumers the ability to opt out of it. The bill also includes provisions for fines for privacy violations and annual reviews of algorithms to ensure they do not harm individuals.

Mountaineers seek Guinness World glory with highest fitness session

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Mountaineers seek Guinness World glory with highest fitness session

A team from Cyprus is planning to scale Mera Peak in Nepal and set a Guinness World Record for the highest fitness session ever conducted. Led by Alexis Economides, the team aims to honor a lost friend and face extreme conditions, including low temperatures and oxygen levels. The fitness session must last at least 30 minutes and include squats, planks, and push-ups. The team is sponsored by several companies and remains determined to achieve their goal.

Close to Home: California needs higher taxes on wealth

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Close to Home: California needs higher taxes on wealth

President Joe Biden proposed to reverse the 2017 Trump tax cuts for the wealthiest Americans by raising the corporate tax rate, denying tax breaks for corporations whose CEOs earn more than million in annual compensation, and requiring billionaires to pay at least 25% of their income in taxes.

Cyprus linked to a terrorist attack in Moscow

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Cyprus linked to a terrorist attack in Moscow

Cyprus is being implicated in the investigations into a deadly terrorist attack in Moscow, with reports suggesting that a sum of money in the form of cryptocurrency ended up in the hands of perpetrators through a Russian businessman with ties to the island. The businessman, known as “Yulik London,” is wanted by Russian authorities for possible embezzlement. However, it is emphasized that there may be no direct link between the businessman and terrorist financing. The information was not published in major Russian media outlets and was uncovered during an investigation at a cryptocurrency exchange in Moscow. The Russian Prosecutor General’s Office has requested assistance from the US, Germany, France, and Cyprus in connection with the terrorist incidents.

The Island Private School: a holistic learning environment

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The Island Private School: a holistic learning environment

The Island Private School in Cyprus offers a holistic learning environment for students of diverse cultural backgrounds. The school integrates best practices from the International Baccalaureate, Waldorf, and Montessori educational systems, focusing on academic excellence and developing 21st-century skills. The school’s mission is to inspire a passion for learning and prepare students as confident, responsible global citizens who value diversity. The school offers three educational tracks grounded in Environmental, Social, and Governance (ESG) principles, aiming for a sustainable and equitable future. The school has integrated ESG considerations into its curriculum through lessons on environmental sustainability, climate change, and conservation, as well as through various environmental initiatives and partnerships. The school engages with the local community, fosters inclusivity and diversity, and promotes social responsibility through various activities and events. The school plans to evolve its ESG initiatives by introducing composting bins, celebrating various faiths and cultures, and focusing on sustainability in its future campus. The school measures and reports on its progress towards ESG-related goals through key performance indicators, data collection, and stakeholder surveys. The school faces challenges in implementing eco-friendly practices due to financial constraints but is seeking funding opportunities through grants and partnerships. The school encourages student-led initiatives related to ESG and plans to use technology to further ESG education and initiatives. The school’s approach to ESG differentiates it from other educational institutions by integrating ESG into its organizational culture, decision-making processes, curriculum, and daily operations. The school envisions its role in the broader ESG landscape within the education sector in the next five to ten years by becoming an international education hub, supporting diverse educational tracks, expanding as a multicultural community, promoting ethical governance, strengthening environmental partnerships, contributing to rural development, developing a green campus, and promoting energy efficiency and renewable energy sources.

Raising a glass to sustainability in the spirits industry

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Raising a glass to sustainability in the spirits industry

Fact: Yianna Christou explains how beverage companies are embracing ESG principles in their marketing strategies to enhance brand reputation and foster consumer loyalty.

25th Tourism Exhibition “TRAVEL EXPO CYPRUS”

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25th Tourism Exhibition “TRAVEL EXPO CYPRUS”

The 25th TRAVEL EXPO CYPRUS Tourism Exhibition will be held on 19 – 21 April at the State Fair Grounds in Nicosia. It is a popular event in Cyprus attracting over 10,000 visitors annually. The exhibition provides information on travel options in Cyprus and abroad, with various exhibitors offering travel packages. Visiting hours are from 16:00-22:00 on April 19 and 20, and from 15:00-21:00 on April 21. The entrance fee is €4.00, with children under 12 entering for free.

‘, Our goal is to create a fully digitised state’

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‘, Our goal is to create a fully digitised state’

The fact described in the text is that the government aims to create a “fully digitised state” in order to offer quality services to citizens and businesses, facilitate the development of new knowledge-intensive sectors, increase the competitiveness of the Cyprus tax model, and meet the European Union’s targets for the green transition.