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Maldives Inland Revenue Authority Records 10.5% Revenue Growth in November 2023

The Maldives Inland Income Authority MIRA said their total income for November 2023 was MVR 1.67 billion, representing a 10.5% rise over the same mont

The Maldives Inland Income Authority MIRA said their total income for November 2023 was MVR 1.67 billion, representing a 10.5% rise over the same month in 2022. The increase in growth is ascribed to increased tax revenue from sources including the TGST and GGST, as well as the rate rises on each in 2023. The favourable result was further influenced by the 3.5% rise in tourist arrivals in October 2023, the expatriate quota charge, and the Tourism Land Rent dues collection. GST 67.16%, Income Tax 6.60%, Green Tax 5.10%, Airport Development Fee 4.50%, and Departure Tax 4.34% are the primary sources of revenue. The entire amount collected is 9.3% more than expected. Read More..

B2B Tech News | 4 months ago        

Morocco Launches Social Reforms Nearly a Million Disadvantaged Families to Receive Monthly Assistance

Morocco has announced that, as part of a social reform launched by King Mohammed VI in 2020, almost a million impoverished households would get direct

Morocco has announced that, as part of a social reform launched by King Mohammed VI in 2020, almost a million impoverished households would get direct monthly aid for the first time. Beneficiaries of the targeted family allowances, irrespective of the makeup of their families, will receive at least 500 dirhams just over $51 monthly. The programme is a component of a larger project that also includes providing free medical care to over 10 million underprivileged individuals and extending social security coverage to all Moroccans. The nation faces social inequality and economic difficulties while social reforms are being implemented. Read More..

B2B Tech News | 4 months ago        

Ethiopia Officially Defaults on $33 Million Bond Payment Amid Financial Crisis

Ethiopia became the third country in Africa to default in three years when it could not pay the $33 million "coupon" payment on its only international

Ethiopia became the third country in Africa to default in three years when it could not pay the $33 million "coupon" payment on its only international government bond. The COVID19 epidemic and Ethiopias justended twoyear civil war have made the countrys dire financial problems more apparent, as seen by the default. Ethiopia had said earlier that it would formally default. Ethiopia is now grouped with Zambia and Ghana, three other countries reorganising under the "Common Framework." Early in 2021, Ethiopia applied for debt relief under the G20led programme. In November 2022, its official sector government creditors reached a settlement to suspend debt service. Read More..

B2B Tech News | 4 months ago        

Singapore Plans Second Phase of GST Hike, Increasing Rate to 9%

Singapores goods and services tax GST is about to go into effect in its second phase, rising by 1% to 9%. The first phase increased the GST from 7% to

Singapores goods and services tax GST is about to go into effect in its second phase, rising by 1% to 9%. The first phase increased the GST from 7% to 8% earlier in the year. Given that living expenses are already rising, opposition MPs have demanded a postponement. The administration contends that the tax increase is required to support state coffers because of the problems brought on by an ageing population and soaring health care expenses. The Central Bank of Singapore projects an average inflation rate of 2.5–3.5% for 2024. Read More..

B2B Tech News | 4 months ago        

Argentinas Central Bank Eyes AR$ 20,000 and 50,000 Banknotes to Combat Inflation

The Central Bank of Argentina BCRA is thinking of producing banknotes worth AR$ 20,000 and 50,000 to stay up with inflation and lessen the necessity f

The Central Bank of Argentina BCRA is thinking of producing banknotes worth AR$ 20,000 and 50,000 to stay up with inflation and lessen the necessity for large amounts of cash in regular transactions. Since AR$ 2,000 is now the most significant denomination in circulation, most individuals must rely on AR$ 1,000 notes for everyday spending. It has been claimed that among financial circles, the president of BCRA has explored the prospect of printing notes with more prominent denominations. The new banknotes are anticipated to go into circulation in March 2024. The Central Bank is debating whether or not to produce the new notes overseas, although this decision still needs to be made. Read More..

B2B Tech News | 4 months ago        

Argos Distributors Ireland Faces €43.4 Million Cost After Closing Republic of Ireland Stores

The Irish division of catalogue retailer Argos, Argos Distributors Ireland Ltd., lost 580 jobs and had to pay €43.4 million $47.6 million in costs d

The Irish division of catalogue retailer Argos, Argos Distributors Ireland Ltd., lost 580 jobs and had to pay €43.4 million $47.6 million in costs due to shutting its shop network in the Republic of Ireland. The most notable element of the data, which was disclosed in the companys new accounts, was the €23.2 million in redundancy expenses. After determining that the investment required to turn a profit was unfeasible, the firm closed in June. According to the updated financial statements, in the year ending March 2023, the closure was also a factor in a pretax loss of €24.1 million. The revenue decline was likewise €12.8m, or 9.5%. Read More..

B2B Tech News | 4 months ago        

Aerometrex Lands $1 Million Contract for Great Barrier Reef Survey Using Laser Scanning

The Queensland Government has awarded a $1 million contract to Adelaidebased Aerometrex, a geospatial data business, to survey and monitor the Great B

The Queensland Government has awarded a $1 million contract to Adelaidebased Aerometrex, a geospatial data business, to survey and monitor the Great Barrier Reef using laser scanning technology. The project will use the remote sensing technique known as Light Detection and Ranging LiDAR to produce a threedimensional 3D map of important regions, including Burdekin, Wet Tropics, and Fitzroy. The surveys objectives are to evaluate the erosion of streambanks and gullies, track changes over time, and pinpoint the primary sources of fine material. The government will use this information to correct landscapes essential to the reefs longterm health. It is anticipated that the project will be finished by June 2024. Read More..

B2B Tech News | 4 months ago        

Strategic Move SoftBank Expands TMobile Stake to 7.64% with $7.59 Billion Share Deal

SoftBank Group Corp will get shares in TMobile U.S. valued at about $7.59 billion at no additional cost. The Japanese corporation has directed TMobile

SoftBank Group Corp will get shares in TMobile U.S. valued at about $7.59 billion at no additional cost. The Japanese corporation has directed TMobile to issue 48.75 million shares of common stock by the terms of an agreement during the combination of TMobile and SoftBanks U.S. telecom, Sprint. Through this acquisition, SoftBanks ownership position in TMobile U.S. rose to 7.64% from its present level of 3.75%, increasing the amount of listed, quantifiable equity shown on SoftBanks financial sheet. After hearing the news, the conglomerates stock increased by 5%. SoftBanks internal rate of return on its Sprint investment is positively impacted by the change, coming in at 25.5%. Read More..

B2B Tech News | 4 months ago        



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