Michael Brochstein/ZUMA Press Wire / SplashNews.com / Michael Brochstein/ZUMA Press Wire / SplashNews.com Because of her late start in the 2024 presidential campaign, vice president and presumptive Democratic nominee Kamala Harris has not had much time to roll out an economic platform. She was expected to do so this week, though what she unveils might … Read more
There’s a growing divergence between EU targets and national plans, and electrification is not happening quickly. Are voters turning their backs on the EU’s 2030 climate objectives? Year-to-date natural gas consumption is 3.1% down, to 195.6 bcm from 201.9 bcm in 2023. Milder weather has reduced household consumption. In general, the trend is downwards. Europe … Read more
Union Budget 2024: Industry leaders requested a host of considerations in the upcoming full Union Budget 2024 during their pre-Budget meeting with Finance Minister Nirmala Sitharaman on June 20. Expectations listed by India Inc. during the two-hour interaction include a reduction in the income tax burden for the common man, an increase in capital expenditure, … Read more
Cyprus is excelling in the fields of research and innovation, according to Deputy Minister of Research, Innovation, and Digital Policy Nikodimos Damianou. Damianou this week visited the Cyprus Institute, where he met with its president Stavros Malas, as well as members of the administrative staff. Damianou expressed his delight at Cyprus’ leading position in research … Read more
The Cyprus Chamber of Commerce & Industry (Keve) has completed the upgrade of its headquarters in Nicosia into a green building. The initiative aligns with the organization’s commitment to promoting sustainable practices among its members and contributing to a greener Cyprus.
Russia’s Finance Ministry has proposed amendments to the tax code, including raising corporate income taxes and introducing a progressive personal income tax scale. The changes are expected to be passed by the State Duma before autumn 2024 and come into force in 2025. The proposed changes include raising corporate income tax to 25%, reintroducing a 5% income tax rate for IT companies, and setting thresholds for the progressive personal income tax scale. The reforms are estimated to increase consolidated budget revenues by RUB2.6 trillion in 2025. Despite the changes, Russia’s progressive personal income tax remains modest compared to other BRICS countries. The implementation of a progressive income tax could have negative impacts on economic growth and macroeconomic indicators.
The Cyprus Stock Exchange (CSE) and the Hellenic Energy Exchange (HEnEx) will sign a Memorandum of Understanding (MOU) governing negotiations on the secondary market of Guarantee of Origin certificates from renewable energy sources.
President Nikos Christodoulides emphasized the important contribution of shipping to the economic development of Cyprus and stated that his administration will continue to work towards the sustainable development of Cypriot shipping.
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.
The US presidential elections are scheduled for November 2024 and are considered instrumental for the global economy due to the size of the US economy, the central role of the US dollar, and the country’s vast energy reserves and geopolitical importance.