Economy

Switzerland Levies Additional Tax on Undertaxed Multinationals
September 4, 2024
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Switzerland Levies Additional Tax on Undertaxed Multinationals

Starting in 2025, Switzerland will introduce an additional tax on large corporations, such as Nestlé and Novartis, if they are undertaxed abroad. This move follows the OECD's global minimum tax initiative, which mandates a 15% profit tax for large companies. Swiss companies paying less than 15% tax domestically will face a supplementary tax to prevent foreign jurisdictions from claiming the difference.

Spain's Unemployment for Recent Graduates Among Worst in Europe
September 3, 2024
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Spain's Unemployment for Recent Graduates Among Worst in Europe

Recent data reveals that Spain struggles to employ recent graduates, ranking 27th out of 33 European countries. Only 64% of those with a baccalaureate or intermediate level find work, far below the EU average. While university graduates fare better at 83%, Spain still lags behind most European nations.

Romania Proposes €17bn Rail Line to Link Bucharest and Budapest
September 3, 2024
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Romania Proposes €17bn Rail Line to Link Bucharest and Budapest

The Romanian Transport Ministry has revealed new details about the planned high-speed rail line from Bucharest to Budapest via Transylvania, estimating a cost of around €17 billion. The route could enable trains to reach speeds of 200-300 km/h, significantly reducing travel time between the two capitals.

Greece Expands Incentives to Boost Business Mergers and R&D Innovation
September 3, 2024
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Greece Expands Incentives to Boost Business Mergers and R&D Innovation

Greece is implementing new incentives aimed at encouraging mergers among small and medium-sized enterprises (SMEs) and boosting research and development (R&D) activities. These measures include increased tax exemptions, lower capital requirements for mergers, and higher investment limits for angel investors in startups.

Finland Proposes Ban on Russian Property Purchases
September 2, 2024
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Finland Proposes Ban on Russian Property Purchases

Finland is proposing a ban on most Russian citizens from buying real estate in the country to protect national security. The move follows deteriorating relations since Finland joined NATO and increased concerns about potential hostile influences.

Turkey Seeks Investors for $20bn 'Development Road' Connecting Asia with Europe
August 30, 2024
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Turkey Seeks Investors for $20bn 'Development Road' Connecting Asia with Europe

Turkey's President Erdogan is seeking investors for a $20 billion, 1,200-kilometer trade route called the Development Road. This project aims to link Persian Gulf countries with Europe, competing with the Suez Canal and the proposed India-Middle East-Europe Economic Corridor.

ECB Seeks Second Interest Rate Cut as Eurozone Inflation Falls
August 30, 2024
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ECB Seeks Second Interest Rate Cut as Eurozone Inflation Falls

The European Central Bank (ECB) is considering a second interest rate cut in September as eurozone inflation dropped to 2.2% in August, its lowest level since June 2021. This decline brings inflation close to the ECB's 2% target, but concerns about core inflation and unemployment figures complicate the decision-making process

Schiphol Airport Announces Massive €6bn Investment Plan
August 30, 2024
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Schiphol Airport Announces Massive €6bn Investment Plan

Schiphol Airport has unveiled a €6 billion investment plan over the next five years to enhance infrastructure, services, and working conditions. This comes as the airport faces challenges with staff shortages, infrastructure issues, and recent baggage handling problems. The plan aims to restore passenger satisfaction and improve service quality.

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