This report is a modified version of an earlier report ITEP published in collaboration with Liberation in a Generation. 1. Corporate tax cuts and corporate tax avoidance worsen income inequality. When corporations are allowed to pay less in taxes, the ultimate beneficiaries are mainly the owners of corporate stocks, who are concentrated among the wealthiest … Read more
Bloomberg | Jun 26, 2024 04:09 PM IST Share Via Copy Link Already haunted by a history of company collapses, Kenya’s moribund corporate bond market risks a fresh setback from authorities plans for a withholding tax on green bonds. Already haunted by a history of company collapses, Kenya’s moribund corporate bond market risks a fresh … Read more
Fact: An ‘unprecedented mass claim’ of Laiki and Bank of Cyprus depositors and bondholders amounting to US0 million was dismissed at the International Arbitral Tribunal of the World Bank.
The World Bank’s ICSID tribunal rejected a 0 million claim by depositors and bondholders of Laiki Bank and the Bank of Cyprus, finding the bail-in measures implemented during the financial crisis to be a legitimate exercise of Cyprus’ regulatory power.
– 7,500 people have applied for the national solidarity fund scheme for depositors and bondholders affected by the bank haircut in 2013.
– The fund has €160 million and will receive an additional €50 million annually from the state.
– It is uncertain if each beneficiary will receive €8,000 for every €100,000 they lost.