Russian President Vladimir Putin on Friday signed a bill that raises income taxes for the rich, part of efforts to help fill government coffers depleted by the war in Ukraine. The tax hikes were being presented domestically as “systemic reforms”. Issued on: 12/07/2024 – 18:12 2 min Advertising Read more Russian President Vladimir Putin on … Read more
A new agreement between Moscow and Tehran on comprehensive cooperation has been temporarily suspended due to problems that Iranian partners are facing, Russia’s RIA state news agency reported on Tuesday citing a Russian foreign ministry official.“This is a strategic decision of the leadership of the two countries,” RIA cited Zamir Kabulov, the foreign ministry official … Read more
reuters_tickers This content was published on June 6, 2024 – 17:58 ST PETERSBURG (Reuters) – The prospect of raising Russia’s corporate taxes was criticised by officials at last year’s St Petersburg economic forum as a counterproductive move that would suppress investment. This year, those same officials have changed their tune.The government approved tax hikes last … Read more
Two Cyprus-registered companies, IBEX Shipping and Azia Shipping, have been sanctioned by Japan for allegedly aiding Russia’s invasion of Ukraine. The sanctions target a total of 12 entities and individuals, including the two Cypriot firms, which are registered in central Nicosia. Japanese authorities believe these entities facilitated the arms trade between North Korea and Russia, strengthening Russia’s military capabilities and potentially supporting its war efforts in Ukraine.
Fact: The new tax thresholds and hike in corporation tax in Russia are expected to raise about 2.6 trillion rubles (bn) a year.
The Emir of Qatar Sheikh Tamim bin Hammad Al Thani visited Cyprus for the first time, accompanied by a delegation of ministers to discuss economic, investment, and tourism cooperation between the two countries. President Nikos Christodoulides welcomed the Emir and emphasized the potential for further strengthening bilateral relations. However, the President made an inappropriate comment by suggesting that Cyprus could act as an ambassador for Qatar in Brussels, which was seen as a breach of diplomatic protocol and raised concerns about the credibility of the Republic.
The G7 is considering using future income from frozen Russian assets to support Ukraine, with the potential of providing Kyiv with a loan of up to billion. The group is also addressing concerns about China’s industrial practices and aims to sign off on a global minimum tax rate for multinationals. Additionally, the G7 is urging Israel to maintain banking links between Israeli and Palestinian banks to ensure vital transactions can continue.
Russian Foreign Ministry spokeswoman Maria Zakharova stated that Moscow will retaliate with strikes on British targets if British weapons are used by Ukraine to strike Russian territory. This warning was issued in response to British Foreign Secretary David Cameron’s statement that Ukraine had the right to use weapons provided by London to hit targets inside Russia. Russia has decided to hold exercises this month to simulate the launch of tactical nuclear missiles in reaction to this remark.
Tens of thousands of Russians who fled to Turkey after Moscow’s invasion of Ukraine have been leaving due to residency issues and soaring costs. The number of Russians with Turkish resident permits fell to 96,000, down by more than a third from 154,000 at the end of 2022. Many have headed to Serbia and Montenegro. Turkish inflation hit 70% last month, and basic banking has become difficult due to sanctions. Some Russians have also left due to struggles to get residence permits since early 2023.
Elon Musk arrived in Bali to launch SpaceX’s Starlink internet service in Indonesia. The government hopes this will improve internet access and health services in remote areas. Musk will collaborate with Indonesian officials and President Joko Widodo for the launch. Starlink has already secured a permit to operate in Southeast Asia’s largest economy. It is also used in Ukraine for military, hospitals, businesses, and aid organizations.