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Maximize Tax Refunds: Expand Your Business Globally

by Ethan Caldwell
written by Ethan Caldwell

China Optimizes Tax Refund Policies to Boost Inbound Consumption

April 27,2025

China is taking steps to attract more international visitors by optimizing its departure tax refund policies. The ministry of Commerce, along with six other departments, recently issued a notice aimed at enhancing the shopping experience for overseas tourists and expanding inbound consumption.

Key Policy Changes

  • Expanded Store Access: The initiative seeks to increase the number of tax refund stores,particularly in areas frequented by tourists,such as business districts,pedestrian streets,and airports.
  • Lower Threshold: The minimum purchase amount for tax refunds has been reduced from 500 yuan to 200 yuan, opening the programme to smaller shops and a wider range of goods [2], [3].
  • Improved Services: The cash tax refund limit has been doubled from 10,000 yuan to 20,000 yuan, and efforts are being made to offer diverse payment options, including mobile payment, bank cards, and cash.

Official Statements

sheng Qiuping, vice minister of commerce, emphasized the potential impact of these changes:

Further optimizing the departure tax refund policy will help promote the continued rapid growth of departure tax refund sales and inject consumption into boosting consumption…expand new space.
Sheng Qiuping,Vice Minister of Commerce

Qiuping added that the ministry will work with other departments to implement these policies,improve the quality of tax refund services,and make shopping more convenient for overseas travelers.

Implementation and Expansion

The State Administration of Taxation has already issued an announcement to clarify the procedures for “buy-and-refund” services, encouraging more stores to participate. Xie Wen, director of the Department of Goods and Labor Taxation of the State Administration of Taxation, stated:

Under the thorough effect of the introduction of a series of departure tax refund policies and measures, the advantages of ‘buy and refund’ will be further exerted. In the next step, the tax department will continue to optimize tax services, improve the consumption experience of overseas tourists, and fully release the consumption potential of inbound tourism.
Xie Wen, Director of the Department of Goods and Labor Taxation of the State Administration of Taxation

The Civil Aviation Administration of China is also involved in promoting the policy. xu Qing,director of the Transportation Department,said:

we will cooperate with relevant departments to strive to promote the implementation and optimization of the departure tax refund policy to attract more foreign tourists to enter and consume… We will encourage capable port airports to add departure tax refund stores…to enhance foreign tourists’ awareness of departure tax refund policies and attract more passengers to ‘buy in China’.
Xu Qing,Director of the Transportation Department of the Civil Aviation administration of China

FAQ: Tax Refunds in China

What is the minimum purchase amount for a tax refund?
200 yuan.
What is the maximum cash refund amount?
20,000 yuan.
Where can I find tax refund stores?
Look for them in major business districts, tourist attractions, airports, and other areas frequented by tourists.
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World

Le Pen Convicted: Out of 2027 French Presidential Race

by Ethan Caldwell
written by Ethan Caldwell

Marine Le Pen Convicted of Embezzlement, Future Political Career in Jeopardy

The French far-right leader faces serious legal repercussions, possibly impacting ⁤her political‍ aspirations.

Le Pen Found Guilty of Misusing EU Funds

Marine Le Pen, a prominent ⁢figure in French politics ⁤and leader of the far-right National Rally party, has been convicted of⁢ embezzling approximately 2.9 ⁣million euros​ ($3.15 ​million ‍USD) in public funds. This ​conviction, handed down along with eight other members of her party in the European Parliament, carries significant implications for her political future, particularly her potential run in ⁣the 2027 French presidential election.

The court’s decision includes a five-year disqualification⁤ from⁣ holding public office, effectively barring her from running for president in ⁤2027, and a four-year prison sentence. While le Pen can appeal the⁢ decision, the penalties will remain in effect during the appeals ‌process. This situation mirrors similar cases in the ⁤U.S., where legal ‌battles have substantially impacted‌ the careers of politicians, regardless of their party affiliation.

“It has been proven that all these people actually worked for the⁤ party and that their Euro had⁤ not entrusted to ​him any task,” the court stated, highlighting the core of the prosecution’s case.

Details of the⁤ Embezzlement Scheme

The case revolves around allegations that Le Pen and her associates misused⁣ funds ⁣allocated by ⁣the ‌European Union ⁤to pay parliamentary assistants. Instead of employing ‌these assistants for legitimate parliamentary work,prosecutors ⁤argued ⁣that they where⁤ effectively working for⁤ the National Rally party in France. This “undue‍ appropriation system,” as ⁤described during the trial, involved creating “fictitious contracts” to‌ divert EU funds.

The trial, ⁢which took place last December, examined how the EU‍ provides each member of the European Parliament with a‌ monthly allowance (approximately 21,000 euros at the time) to cover the costs of parliamentary assistants. The prosecution successfully argued ⁤that Le Pen and the other defendants misused this system to finance party activities, a practice that undermines the integrity of the European Parliament and its financial mechanisms.

This situation ⁢is analogous to‌ campaign finance⁢ controversies in the United States,⁤ where strict regulations are in place to prevent the misuse of‌ funds and ensure transparency in political spending. Violations ‍of these regulations can lead ⁢to severe penalties, including fines, imprisonment,⁢ and disqualification from holding public office.

Impact on French‌ politics and‌ the 2027 Election

Le Pen’s conviction ‌throws a wrench ​into ⁢the already complex ⁢landscape ‌of French politics. As​ a perennial contender for the​ presidency,⁤ she has consistently challenged the established ⁤political​ order. Her potential absence from the 2027 election could significantly alter the ⁢dynamics of ⁢the ⁤race, opening the ⁢door for other candidates to emerge and ‌potentially reshaping the political spectrum.

the ‍National ⁣Rally ‍party, which Le Pen has led for years, now faces a period of uncertainty. Without her at the helm,the ⁢party ⁣may struggle to maintain its momentum and ⁢appeal to its core base of⁢ supporters. This situation could lead to internal power struggles and a re-evaluation of the party’s strategy and direction.

The conviction also raises⁣ questions about the broader implications for⁢ far-right politics in Europe. Le Pen has been a key figure in the European far-right movement, and her legal⁣ troubles could weaken the movement’s overall‍ influence and ⁤credibility. ⁤However, ⁤it’s also possible that her supporters will rally around her, viewing the conviction as a⁢ politically motivated attack.

Legal Recourse and Future Scenarios

Despite the severity of the conviction, Le Pen retains the option to appeal the court’s decision. However, the penalties will remain⁢ in effect throughout the appeals process, meaning she‍ will be barred from holding public office and potentially face imprisonment while the case is⁤ ongoing. The appeals⁤ process could take months or even years to resolve,further‌ prolonging the uncertainty‌ surrounding her political future.

Several scenarios could unfold in the​ coming months. If ‍Le Pen’s⁣ appeal is unsuccessful, she ⁤will likely be forced to⁢ step down from her leadership⁤ position in the National Rally party and serve her prison‍ sentence. This would leave the party in a state of flux and potentially trigger ‌a leadership ⁤contest.

Alternatively, if Le⁤ Pen’s appeal is prosperous, she could be reinstated to her position and resume her political‌ career.However, the conviction will likely ​continue to cast a shadow over her reputation and make ‍it more⁣ difficult for her to gain support from mainstream ⁣voters.

Broader Implications for ⁣EU Financial Oversight

This case highlights the ongoing challenges in ensuring proper oversight of EU funds and preventing their misuse. The European ⁣Parliament has taken steps in​ recent years to strengthen its financial ⁤controls and ‍accountability mechanisms, but this case demonstrates that more work needs⁢ to be ‌done.

The European Union faces a delicate ⁤balancing act in​ providing funding to member states and ensuring that ⁢those funds are used ‍effectively and ⁣transparently. Stricter regulations and enforcement mechanisms⁣ are needed ⁣to prevent future instances of embezzlement ⁤and maintain public⁣ trust in⁣ the⁣ EU’s ⁢financial system.

The Le Pen case serves as a cautionary tale for politicians and⁢ public officials‌ across ​Europe,demonstrating the potential consequences of misusing public ​funds and violating ethical standards.It also underscores the importance of robust legal frameworks and‍ independent judicial systems in holding those who abuse their power accountable.

Marine Le Pen’s embezzlement Conviction: A Political Earthquake ⁤wiht Lasting Implications?

World-Today-News.com Senior Editor⁤ (SE): Welcome, everyone, to this in-depth analysis. Today, we have political strategist and author, Dr. Anya Sharma,‌ with us, to dissect the ⁢recent conviction of Marine le Pen and its profound impact on French politics. Dr. Sharma, could you start by ⁣giving us your immediate reaction to this news?

Dr. Anya Sharma (AS): Thank you for having me. My immediate ⁤reaction is one of notable impact.This conviction for embezzling ⁤millions in EU funds isn’t just a legal matter; it’s a potential earthquake in french politics. It strikes at the heart of Le Pen’s carefully cultivated‍ image, and the ramifications will ‍echo across the political landscape for years to come, especially with the 2027 presidential election looming.

Unpacking the ​Conviction: What Does it Mean?

SE: Let’s break down the specifics. For those ‍unfamiliar, what where the charges, and what penalties did Le Pen receive?

AS: Marine Le Pen was found guilty of misusing EU funds, specifically approximately €2.9 million, which is roughly $3.15 million USD. The court determined she ‌and eight other party members misused ​these funds intended for parliamentary assistants. Instead of employing‍ them for ‌legitimate parliamentary work, they used these assistants to perform party work, a practice the court described⁤ as‍ an⁣ “undue appropriation system.” The penalties ⁣include a five-year ban from holding public office,which is particularly impactful‍ for Le Pen’s ambitions,and a four-year prison ‍sentence. While she ⁤can appeal, these penalties remain effective during the appeals process, a crucial detail influencing ‍her immediate future.

SE: This mirrors situations ⁤in diffrent places like the U.S.. How does this conviction compare, historically, to other cases involving politicians misusing funds?

AS: We see parallels in the United states ⁤with similar situations. Politicians,nonetheless of party,have faced career derailment when legal ⁤battles over finances erupt. ⁤Think of cases ​involving campaign finance violations, where accusations⁢ of‍ misusing funds or improperly diverting money led to sanctions, including everything from fines and convictions to disqualifications from​ holding office. The core of ⁢the problem is the same: a betrayal of public trust.the consequences ⁣in the European context now facing​ Le Pen are just as severe. The message from the court is clear: abusing financial schemes is unacceptable and has ‌severe repercussions that impact the career of these high-ranking officials.

Implications for the national Rally

SE: How‍ does this conviction⁤ affect Le⁢ Pen’s party? ​What’s the future looking like for the National Rally party?

AS: The National Rally faces a period of dramatic uncertainty. Le Pen has been‌ the face of the party for years. Without her at the helm, the party will​ need to regroup ‍and redefine⁤ its aims. They must ⁣either find a new leader, potentially triggering internal power struggles, or ⁣reassess their strategic direction. This ‍is a critical juncture; their ability to⁣ maintain momentum, attract ​supporters or even build on their base ​will ⁤be severely tested in the coming years. Furthermore, if ⁢Le Pen is unable to participate ​in the election it⁢ may cause ‌infighting within the party.

SE: Given ⁤the potential for an appeal, what are the possible outcomes?

AS: There are several paths ⁤forward. If her appeal​ fails, she is most likely forced to step down and serve her prison sentence. This would leave the party in a ⁤state of flux, and a leadership ⁢battle would probably ensue. But if the appeal is ​triumphant, Le Pen could resume⁣ her leadership and her political career. though, it will likely be tougher for her to regain support from mainstream voters.

Broader Implications for French and European Politics

SE: Beyond the immediate legal ramifications, what are ​the broader‍ political implications, both for France and the far-right movement across Europe?

AS: Le Pen’s conviction is an earthquake with tremors that are going to be felt​ across the continent. She was a key figure in ⁣the ⁤European far-right⁤ and her legal troubles could weaken that movement’s momentum. It could also⁢ lead to the formation of new coalitions or the rise ​of fresh, younger leaders who may be less associated with past controversies.

SE: In terms of EU regulations, how does ​this case shed light on the oversight of EU funds?

AS: This case highlights persistent hurdles in assuring adequate EU fund oversight and preventing their inappropriate use. This creates two things: The need for stricter regulations and more effective enforcement mechanisms, and the need for the⁢ whole of the EU member states will need to build and maintain public trust in its financial system. It’s a cautionary tale.

Key Takeaways:

Legal and Political Fallout: Le Pen faces severe consequences impacting her political career and the direction of the National Rally.

Electoral Implications: the 2027 presidential race will undergo‌ big changes if Le Pen is unable​ to participate, with other candidates possibly‌ rising as a result.

Wider Impact: Beyond France, the situation⁣ could weaken the broader European far-right movement, but it could also inspire ‍supporters and promote new leaders.

EU ⁤Oversight: The case highlights requirements for regulations, more effective fund oversight and a need for maintaining public confidence.

SE: Dr. Sharma, thank you for your valuable insights. it’s⁢ clear this is a developing story with far-reaching consequences. Your expertise has ⁤provided a⁢ crucial framework for understanding what comes next.

AS: You’re welcome. It’s ⁣sure ‌to be a pivotal moment in French politics that is going to have effects for‌ a while ​to come.

SE: Do you have any final thoughts? Share ‌your thoughts and predictions in the ​comments below. Let us know your view on how this will affect french politics and the far-right movement? It’s where the discussion continues.

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News

China’s Economic Optimism: Key Insights from the China Development High-Level Forum

by Ethan Caldwell
written by Ethan Caldwell

China’s Economic Trajectory: A Beacon of Stability and Prospect amidst global Uncertainty

At the 2025 China Growth High-level Forum in Beijing, global leaders and multinational executives gathered to discuss China’s economic prospects and its role in the global economy.The forum, held from March 23rd to 24th, centered around the theme “Comprehensively Release Development momentum and Jointly Promote Stable Growth of the Global economy,” showcasing a strong belief in China’s economic path. Fueled by domestic demand, strategic policy support, and proactive risk management, China is positioned for steady growth, offering shared opportunities in innovation and green development.

A Promising Start: China’s Economic Outlook

Amidst a complex global economic landscape, China’s economic trends are under close scrutiny, especially by U.S. businesses looking for stability. Han Wenxiu, Deputy Director of the Office of the Central Financial and Economic Commission, stated, “As the beginning of this year, China’s economy has continued to recover and be positive, and it is indeed indeed expected to achieve a good start.” He emphasized the important room for macroeconomic policy adjustments, expressing confidence that high-quality development in China will enhance stability and certainty for global prosperity.

This confidence is rooted in China’s robust domestic demand, fueled by its vast market. China is committed to expanding domestic demand as a long-term strategy, aiming to make consumption the primary driver of economic growth. This is a stark contrast to the U.S., where consumer spending is often driven by debt. Danone Global CEO, sheng Rui’an, highlighted China’s market size and the increasing wealth of its residents, noting that “China is not only an critically important market, but also represents the world’s top innovation ecosystem.”

Otis Global Chairman, CEO, and President Judy Marks echoed this sentiment, affirming China’s importance to Otis and their plans to increase investment, anticipating collaborative opportunities for future growth. This is particularly relevant for U.S. companies like Otis, which are seeking growth opportunities outside of a perhaps saturated domestic market.

Strategic Policy Support: Fiscal Measures for Stability

China’s economic confidence is further bolstered by effective macro-control policies.Minister of Finance lan Foan emphasized that China’s economic resilience stems from a clear understanding of risks and proactive planning, maintaining sufficient fiscal space to address potential challenges. This year, China is implementing more active fiscal policies, including raising the deficit ratio to around 4%, resulting in a deficit of 5.66 trillion yuan, and a national general public budget expenditure of 29.7 trillion yuan. Lan Foan stated that these policies, combined with the effects of incremental measures from the previous year, will ensure China’s economy continues to improve and move forward steadily.

This level of fiscal planning and intervention is something the U.S. could learn from, especially given the ongoing debates about the national debt and budget deficits.

Risk Management: Ensuring Economic Security

China’s proactive approach to risk management is a key factor in its economic stability. By identifying potential challenges early and implementing preventative measures,China aims to mitigate economic shocks and maintain a steady growth trajectory. This includes careful monitoring of financial markets, managing debt levels, and diversifying its economy to reduce reliance on any single sector.

This is a critical lesson for the U.S., which has frequently enough been criticized for reacting to economic crises rather than proactively preventing them.

Sharing Opportunities: China’s Global Impact

china’s economic growth is not just benefiting itself; it’s also creating opportunities for other countries,including the U.S., through trade, investment, and collaboration.

Innovation Catalyst

China’s large domestic market provides fertile ground for testing and scaling up new technologies. The most exciting areas right now include:

Green Technology: China is a global leader in renewable energy, electric vehicles, and the entire green technology supply chain.
 artificial Intelligence: AI adoption is widespread, from manufacturing to healthcare, boosting productivity and efficiency.
Biotechnology: The country is making significant strides in drug development and genomic research.
 E-commerce and Digital Payments: China has transformed how it looks at digital payments on a global scale.These advancements are not only transforming China’s economy but also creating opportunities for U.S. companies to partner and compete in these cutting-edge fields.

Green Development Leadership

China is a key player in the global green transition. Its move toward renewable energy is essential to addressing climate change.The country is leading in:

Renewable Energy Capacity: With installed capacity surpassing that of fossil fuels, China is a world leader.
 Electric Vehicles: China is the top producer worldwide and has established a strong presence in the entire electric vehicle supply chain.
Green Technology Investment: Massive investment in renewable energy infrastructure and green technologies has made China a powerhouse.

China’s leadership in green development has significant global implications. It is accelerating the adoption of renewable energy, reducing carbon emissions, and driving investments in renewable sectors worldwide. This is particularly relevant for the U.S., which is also striving to transition to a greener economy.

Open Cooperation: A Win-Win Approach

China is actively reducing access restrictions and broadening the scope for foreign investment. Several initiatives are noteworthy in China’s efforts to enhance its business habitat:

Reducing the Negative list: Foreign access restrictions continue to be relaxed as china reduces the negative list for foreign investment.
Optimizing the business Environment: Simplifying business and regulatory processes for international companies.

China’s open policies have helped the following:

Improved Market Access: Expanded market access for foreign businesses across services which has enhanced competition and efficiency across vital sectors.
Increased Investment: An enhanced business environment has increased inward investment providing more opportunities in leading industries.
 intellectual Property Protection: This promotes greater innovation and enables stronger collaborations.

This is an overall shift that attracts international capital and promotes economic expansion by making the environment more attractive and competitive.

Reducing restrictions and Optimizing the Business Environment

China’s commitment to open cooperation is a strategic move to foster mutual benefit, address global challenges, and promote innovation and knowledge sharing.Cooperation promotes shared opportunities for economic growth, creating a win-win scenario. Addressing global challenges like climate change requires multilateral collaboration. Cooperation facilitates the exchange of data and technology,accelerating innovation.For China, this strategy helps maintain its position in global supply chains, attract foreign investment, and promote its technological advancement. For the world, it provides access to China’s enormous market and fosters global progress.

China’s commitment to open cooperation is particularly important in an era of rising protectionism. By embracing collaboration, China is positioning itself as a leader in global economic development.

China’s Economic Powerhouse: How Strategic Vision and Open Cooperation Are Shaping the Future

China’s economic trajectory is a testament to its strategic vision, proactive policies, and commitment to open cooperation. By focusing on domestic demand, managing risks, and fostering innovation, China is not only ensuring its own economic stability but also creating opportunities for the rest of the world. As the U.S. navigates its own economic challenges, it can learn valuable lessons from China’s approach to economic development.

Area China’s Strengths Implications for the U.S.
Green technology World leader in renewable energy and evs Opportunities for collaboration and competition
Fiscal Policy Proactive planning and risk management Lessons for managing national debt and budget deficits
Open Cooperation reducing restrictions and fostering investment Potential for increased trade and economic growth

“As the beginning of this year, China’s economy has continued to recover and be positive, and it is indeed indeed expected to achieve a good start.”

Han Wenxiu, Deputy Director of the Office of the Central Financial and Economic Commission

“China is not only an important market, but also represents the world’s top innovation ecosystem.”

Danone Global CEO, Sheng Rui’an

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News

Hong Kong’s Bright Future: Confidence in Development

by Ethan Caldwell
written by Ethan Caldwell

Hong Kong’s Economic Boom: A ⁢strong‍ 2024 Predicted

Hong Kong is experiencing a significant economic resurgence, with projections pointing towards continued growth in 2024. ‍Following the challenges of the pandemic, the region has ⁢rebounded strongly, attracting ample investment and tourism, according to a recent statement‌ from the ⁤Chinese Ministry of Foreign Affairs.

At a recent press conference, a spokesperson for the Ministry of Foreign Affairs​ addressed Hong Kong’s economic progress. Responding ⁢to a⁣ question about Hong Kong’s future⁢ prospects,⁤ the spokesperson, Mao Ning, ⁤stated, “In 2024, ​with the⁤ strong support ⁣of the central government,⁣ the Hong Kong SAR government will act responsibly, be pragmatic and enterprising, focus on ⁤economic⁤ growth and development, strengthen external exchanges⁤ and cooperation, and continuously consolidate⁣ Hong ⁣Kong’s good momentum ⁢of⁣ stable development.”

Hong Kong Skyline
Hong Kong’s vibrant skyline reflects‍ its‌ economic dynamism.

The spokesperson highlighted ‍several key indicators of Hong Kong’s ⁢economic strength. These include its ranking as⁢ the world’s freest economy, its rise to the third-largest international financial center globally, and an notable asset management​ scale exceeding $4 trillion. ⁤ Tourism‍ has also seen a remarkable⁢ recovery, with over 44 million visitors in 2023—a year-on-year increase⁤ of more ⁣than 30%. ⁤ Furthermore, talent acquisition programs have brought approximately 170,000 ‌individuals to Hong Kong. The number of ⁤mainland​ and overseas companies ⁤operating in Hong Kong has neared 10,000, while local ⁤startups ⁢have reached almost 4,700—both‍ representing record highs.

The positive outlook ‍extends to future investment opportunities.ning concluded with a confident assertion: “We are confident that Hong Kong will⁢ achieve better development. Companies from all over the world are welcome to invest and⁤ operate in Hong Kong and share the dividends ⁢of Hong Kong’s development and ⁤’one country,‍ two systems’.”

This robust economic performance underscores Hong Kong’s resilience and ⁢attractiveness as a global business hub.the combination of supportive​ government policies, a thriving⁣ financial sector, and a rebounding ​tourism industry positions Hong Kong for continued success in the coming year and beyond. The implications for‍ U.S. businesses considering international expansion are significant, offering​ potential⁤ opportunities for collaboration ‌and investment in a dynamic and rapidly ⁢growing market.

Disclaimer: This article is​ for informational purposes only and⁤ dose not constitute financial advice. ⁣Investment decisions should be made based on individual circumstances‍ and after ‌consulting with⁤ a qualified financial advisor.

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Business

Funds “appetize” food and drinks – Their role in business deals – 2024-08-24 04:22:53

by Ethan Caldwell
written by Ethan Caldwell

Ten business agreements from the beginning of 2024 until today “count” the domestic food and beverage sector, with the movements of the Greek ecosystem of private equity funds setting the tone for the developments.

In fact – and despite the uncertainty due mainly to geopolitical developments – executives of consulting companies report to “Vima” that in the coming months a new revival of dealmaking is expected with medium-sized companies as protagonists, but without excluding mega deals, i.e. worth over 100 million euros.

The critical parameter of food sufficiency and security, which promises high returns in the long term, export prospects and the dynamics of the tourism market are a barometer for upcoming acquisitions in the food and beverage sector, the same sources point out.

It is indicative that the last three deals in the food sector, i.e. the acquisition by Desserta Hellas, a subsidiary of the Austrian group Berglandmilch, of the Minerva cheese factory in Episkopiko in Ioannina, the triple takeover of the companies Latzimas, Elaia Sitias – LaSitia and Olympian Green International from the SMERemediumCap investment fund of Nikos Karamouzis and then the creation of a joint company with Inspiring Earth led by the experienced manager Konstantinos Antonopoulos and the acquisition of 30% of Eurocatering, leader in the category of fresh packaged salads, by Latsco Family Office (interests of Marianna Latsis), directly or indirectly it was the case of the funds.

Avramar’s rescue

And it goes on and on. The funds also have the first say in pending deals, such as the sale/rescue of the Greek division of the Avramar group, the “big patient” of fish farms.

Already in the second phase of the tender process (submission of binding offers), three potential investors have passed from the six that were initially interested: the Spanish fund Atitlan, the Arab group Aqua Bridge and the fund Diorasis, the main shareholder of Philosofish, the second largest Greek company fish farming. However, it is not certain that all three candidates will proceed to submit binding offers.

In any case, the aim of the banks is to have the process completed by September, however it is still not entirely clear whether the original plan will be followed, i.e. the “saving” of Avramar as a whole, or the company will finally be “broken” into pieces .

However, at the moment the company, with leading shares in the fish farming industry, is on the edge of its seat in terms of the required liquidity, as the (delayed) interim financing of 20 million euros has almost been used up.

Exits from Minerva and EZA

The fund Diorama Investments SICAR SA (Diorama I), the interests of the former president of SEB Dimitris Daskalopoulos, as “To Vima” had revealed, has launched an exit from Minerva and already the deal between the “oldest olive oil company in the country” – which now produces minimal oil – and Desserta’s acquisition of the former’s feta factory in Ioannina by the latter shows that it will not be long before it is completed.

It is recalled that Diorama I together with the private equity funds EOS Capital Partners of Apostolos Tamvakakis and Elikonos Capital (Petros Katsoulas, Pantelis Papageorgiou, Takis Solomos, Dimitris Vidakis) acquired Minerva in September 2019 investing approximately 45 million euros. It is noted that Diorama I owns 68% of the company’s shares, while EOS and Elikonos each own 16%.

Approximately the same tactic will be followed in the case of the EZA brewery (Hellenic Brewery Atalanti), where Diorama I also has a majority stake.

At the same time, Diorama 2 has started investing, having, among other things, bought a majority stake in the food import company Leader.

Hellenic Salts

By the end of 2024, the goal of the Superfund is to have “locked in” the investor who will take over as the majority shareholder the fate of Hellinikes Alykes SA in order to maximize its potential. Already, and while the process has not officially started, as the relevant tender will go on the “air” in the last quarter of 2024, information indicates that at least four “players”, mainly companies or investors, active in the Greek and in the Cypriot market.

At the moment, the mapping of the shareholders and the evaluation of the business plan are underway, while the necessary consultations are being held to determine the profile of the appropriate strategic investor. In any case, the strategic investor will acquire a percentage lower than 60%, with the Superfund retaining a percentage of the share capital.

It is recalled that last year the Superfund regained the 24.81% share held by Kalamarakis SA – Kalas in the Hellenic Salts. After the aforementioned acquisition, the Superfund now owns 80% of the share capital, while 20% remains in the municipalities where the company’s 7 salt pans operate, with the highest percentage held by the Municipality of Messolonghi.

Tambakaki’s moves

Developments in the next period are also expected from the side of Apostolos Tamvakakis, Managing Partner of EOS Capital Partners, who is launching at least three new investments with the vehicle of the second fund, including one in the food industry.

It should be noted that the new fund of Apostolos Tamvakakis and his team can “hit” companies with a turnover of up to 100 million euros and 500 employees. On average it seeks to invest 25 million euros per company by acquiring a majority stake, while the maximum investment can reach up to 37 million euros.

Tsantalis and Kurtakis

Despite the efforts to clean up Tsantalis and to sell it to Hellenic Wineries, the company of Ilias and Thomas Georgiadis that has Boutaris and the natural mineral water Ioli in its portfolio, the historic winery ultimately failed to be saved, filing a bankruptcy petition at the Thessaloniki Court of First Instance, which will be discussed on October 11.

At the same time, reorganizations at the ownership level are “heard” for the Hellenic Wine Cellars company, better known as the Kourtaki Winery. The century-old company, which once had hegemonic shares in the industry, after the death of Vassilis Kourtakis three years ago, is in decline, with Aegio Winery and Distillery (Cavino) taking the lead in terms of sales figures.

#Funds #appetize #food #drinks #role #business #deals

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World

Ministry for Regional Growth of the Czech Republic

by Ethan Caldwell
written by Ethan Caldwell

1. 7. 2024

From July 1, 2024, the brand new Constructing Act additionally applies to peculiar buildings. In the long run, it should velocity up and simplify building administration. It waives pointless technical necessities, which can make housing building cheaper. The constructing allow is obtained by the builder in a single place on-line within the builder’s portal. Along with the brand new building legislation, the associated implementing laws, together with the trendy decree on necessities for building, additionally got here into power. The legislation additionally offers for a transition interval till the tip of June 2027. Till then, it will likely be potential to make use of the documentation that the builder developed earlier than the brand new constructing legislation got here into power.

As an alternative of two, the brand new Constructing Act introduces a single process wherein the constructing is positioned and permitted. From the builder’s perspective, it is usually a single stamp. It establishes fastened deadlines for issuing a call – 30 days from the date of initiation of proceedings within the case of straightforward building, 60 days from the date of initiation of proceedings in different instances. If the builder doesn’t present binding opinions on the applying, the constructing authority will request them from the related authorities itself. The legislation additionally prevents so-called ping-pong, if a participant appeals, the superior constructing authority decides, the file is rarely returned wherever. “The brand new building legislation as an entire will result in the acceleration of allowing processes and, along with the decree on building necessities, will primarily make housing initiatives cheaper. For me, it is usually important that he managed to get native governments, skilled chambers and, above all, the votes of legislators from all political events within the Home of Representatives. Builders want certainty that the legislation won’t basically change with every new authorities,” declared Deputy Prime Minister for Digitization and Minister for Regional Growth Ivan Bartoš.

The unified environmental opinion now replaces the opinions beneath 9 totally different legal guidelines. The brand new Constructing Act additionally expanded the vary of buildings that don’t want an evaluation by the constructing authority. These are some constructions of renewable vitality sources, alternative of strains and networks or connections as much as 25 m and others. Due to the digitization of building administration, the simplification of documentation or the switch of advanced buildings to the Transport and Vitality Constructing Workplace, the amount of official work at small building workplaces might be lowered by 30 to 40%. “Within the new Constructing Act, we’ve got saved decision-making as shut as potential to the individuals, within the municipalities themselves. Then again, it was necessary for us to alleviate the smaller building authorities, which have been coping with an absence of staff for a very long time. We’re additionally pushing for modifications in tabular salaries, and digitization of building administration will lastly present us with the information we have to arrange the efficiency funding of the authorities.” summarized Bartoš.

Along with the brand new Constructing Act, the associated implementing laws are additionally efficient from July 1. Along with the Assortment, they’re additionally obtainable on the MMR web site right here.

Decree on necessities for building The Decree considerably simplifies the necessities, and even utterly waives a number of the surviving ones, for instance, on daylight or the peak of household leisure buildings. It reduces the calls for on parking areas or cancels the necessity to separate the bogs from the vestibule. Relying on the situation, these modifications can cut back the funding prices of the residence. As well as, the decree takes over and replaces the technical necessities of a number of present laws, and due to this fact considerably unifies the laws. Due to a lot of exceptions, municipalities can now alter the necessities for the delineation of land or the situation of buildings in keeping with their wants of their regulatory plans and territorial plans with parts of the regulatory plan.

Decree on the institution of municipal constructing authorities Establishes the municipalities wherein constructing authorities are situated and defines their administrative districts. It’s true that decision-making stays straight within the territory, within the fingers of officers who know the native state of affairs greatest. Except for six municipalities, which themselves requested the abolition of the constructing authority.

Decree on documentation of constructions The documentation for planning permission is now solely one-step – it isn’t ready individually for zoning selections and constructing permits. Its scope and element are considerably restricted. Newly, the documentation for planning permission corresponds to immediately’s documentation for zoning selections, prolonged by the evaluation of statics and hearth security. The decree additionally limits the instances the place sure knowledge had been said repeatedly in several elements of the documentation. To be able to keep away from the necessity to put together extra documentation in accordance with varied authorized laws for extra advanced constructions, the MMR has ready the so-called “Annex for documentation of permits for a set of constructions”. Due to it, the entire course of is simpler, particularly for designers.

Decree on the Implementation of Sure Provisions of the Constructing Act Accommodates software kinds which are despatched to constructing authorities, or a proposal kind for establishing a protecting zone. It additionally regulates intimately the system of building technical prevention and the difficulty of licensed inspectors. The decree is carefully linked to the digitization of building procedures and likewise determines the type of associated kinds. The brand new Constructing Act means that you can submit an software in each paper and digital kind. The decree ensures machine readability of knowledge. The builder’s portal guides the applicant to fill in solely these elements of the interactive kind that relate to his intention.

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