Spain plans temporary wealth tax amid high inflation
24 September 2022 | 7:44 am
A government plan calls for a tax on Spain's "big fortunes" would help offset inflation relief measures to assist low and middle-income Spaniards.
The Fed added 0.75% to its benchmark interest rate for a second straight time. The increase of the interest rate to its highest level in four years comes as inflation continues to reach new heights.
Inflation is running at its highest levels ever among the 19 countries using the euro, according to numbers published by Eurostat. Energy prices, which went up almost 40% in July, have contributed to the record hike.
Spain's Prime Minister Pedro Sanchez called on office workers to ditch their neckties. In a press conference with his collar open, he said saving energy ought trump sartorial style in searing temperatures.
Shepherd Chowe pushes a cart filled with tins, iron rods and other metallic objects down a dusty pathway in Hopley, a poor settlement about 15 km west of Zimbabwe's capital, Harare. He is among desperate Zimbabweans selling scrap metal for survival as the cost of living soars, piling pressure on a population already facing food shortages and high unemployment, and stirring memories of economic chaos years ago under the late leader Robert Mugabe's near four-decade rule.
The German Finance Ministry has revealed a plan to ease income tax in response to spiraling inflation. However, critics had claimed the measures would benefit top earners the most, and squeeze public spending.
Inflation is generally understood to be a sustained hike in the price level of goods and services. Most economists favor relatively low and stable inflation rates for a nation's economy to work smoothly.
More migrants have died at the Moroccan-Spanish border this year than ever before. Human rights activists are calling the Moroccan border guards criminals.
The bill, which involves major spending on climate action and healthcare, is a triumph for President Joe Biden's legislative agenda.
People in several towns had to flee their homes due to a raging forest fire. The blaze began near the town of Anon de Moncayo, 70 kilometers west of the northeast city of Zaragoza.
A pioneering drone lifeguard service rolled out across Spanish beaches saved the life of a 14-year-old boy this month as he struggled against a powerful tide off a beach in Valencia, its operators have said.
Nigeria’s inflation rate has defied monetary tightening, hitting 19.64 percent in July, a level not seen in over one-and-a-half decades. This bombshell was dropped yesterday by the Statistician-General of the Federation and Chief Executive Officer, National Bureau of Statistics (NBS), Prince Semiu Adeniran, when he released the Consumer Price Index (CPI) for July 2022 in Abuja.
Thousands of flamingo chicks are born yearly in Europe's biggest flamingo colony in southern Spain. Before the hatchlings fly off to other nature reserves in Europe and Africa, volunteers tag them to study their migration patterns.
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