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5,000 ultra-rich, Germany holds more than a quarter of ’'s financial wealth

27/05/2026 by the Logistics TransportIn the the General Assembly

Global private financial wealth increased by 7.4 percent in 2025’te; This significantly outperformed inflation, which fell below 3% ’ in each of the key economic areas. In ’, Germany, it was 2.2 percent. This is according to the ‘Global Asset Report 2026’, published today by management consulting Boston Consulting Group (BCG).

Growth is primarily driven by strong stock markets

The main factor in the increase in wealth was the performance in the stock markets last year. As of the reporting date of December 31, 2025, total wealth in ’, Germany, was around USD 23.3 trillion. More than half of this is held in real estate, especially real estate.

BCG refers to people with financial assets over $100 million as ‘super-rich ’ or ‘Ultra High Net Worth Individuals’ (UHNWI’s). In ’, Germany, this group currently consists of about 5,000 people; That's roughly 1,100 more than a year ago. There are just under 97,000 super-rich individuals worldwide, and more than a third of them live in the United States.

Much of the wealth is concentrated in this small group: Around 5,000 super-rich, Germany accounts for 27.3% of all financial wealth in ’. For the comparison: The total shares of approximately $769,000 millionaires (people with financial assets between one and $100 million) are 25.5 percent’ and therefore have a smaller share than the super-rich alone. Around 66 million people in ’, Germany, whose financial assets are under $250,000, oppose it.

Wealth gap continues to expand

According to Der Spiegel’in, BCG partner Michael Kahlich, ‘, the concentration of wealth at the top continues to increase, ’ says. Wealthy people are able to diversify their assets more broadly and invest more heavily in high-yield asset classes such as stocks or private equity. Kahlich, ‘This is structurally accelerating wealth accumulation, ’ says. According to BCG’, the share of the super-rich in Germany's financial wealth is expected to continue to grow until 2030’.

Despite the downward trend, Germany still accounts for about a third of ’'s financial wealth in cash and current, fixed-term and savings accounts, according to Stern magazine. Twenty-five percent are tied to life insurance policies and pensions.

Politically explosive figures

According to BCG’, the relatively weak culture of equity investment in Germany is one of the reasons why ’'s net wealth is expected to grow slower than Western European and global averages in the coming years. This adds structural burdens such as a largely stagnant economy, demographic change, and poor productivity growth.

The new data is also expected to fuel internal discussions on the coalition's tax policy. The federal government is currently scrambling over how to finance a major reform package. SPD’ initially advocated higher taxes on wealthy, conservative politicians such as Saxony’'s minister-president Michael. KretschmerThey have recently signaled that they are open to higher taxes on large fortunes.

African cities raise alarm about climate and housing at Baku city forum

26/05/2026 by the Logistics TransportIn the the General Assembly

African cities are running out of time. Climate change, rapid urbanization and chronic housing shortages are converging on a continent where governments don't have the funding to respond on a large scale, and officials meeting at the World Urban Forum ’ in Baku’ say old financing models are no longer enough.

WUF13, the 13th edition of the forum, brought together African policymakers who increasingly addressed housing not as a welfare problem, but as a fundamental economic and infrastructure problem linked to climate adaptation, migration and post-conflict recovery.

Angola's Minister of Public Works, Urban Planning and Settlement, Carlos Alberto Gregório dos Santos, said that %He said 7,5’ini led the way to the housing sector, one of the largest areas of public investment.

The Angolan state has built about 350,000 homes in recent years to address the national housing gap in cities that are growing faster than governments can build.

Dos Santos said forums such as WUF13 allow developing countries to compare models and exchange practical solutions on housing, transport and infrastructure.

“Africa, Europe and Asia should work together, ” said.

Lessons to be learned from restructuring

Azerbaijan’'s own reconstruction experience has become a recurring point of reference for delegates from countries struggling with post-conflict recovery or crumbling infrastructure.

Gambia's Minister of Soil, Regional Government and Religious Affairs Hamat Ngai Kumba Bah said that Baku’ offers important lessons in resilience and national coordination, noting the decision to transform a sports field into a summit venue as an adaptive urban development model rather than costly new constructions.

Bah was outspoken about the finances. Advocating that governments with limited budgets should turn to innovative financing mechanisms instead of relying solely on traditional multilateral financing, “ said no one in the world today has enough funding.

Trees against floods

Climate resilience has dominated much of the debate, especially for cities already living with the consequences.

Addis Ababa’'s head of resilience, Moges Tadesse, warned that seasonal flooding is destroying homes, damaging infrastructure and driving residents away from riverbanks and flood-prone areas, with gradual impacts on public health and livelihoods.

Ethiopia’'s response was predominantly based on nature-based solutions.

Addis Ababa has planted more than 90 million trees in the last five years. Ethiopia has planted about 47 billion trees nationwide as part of a wider land restoration program.

Tadesse also pressured rich nations to do more. He argued that the countries that contribute the least to global carbon emissions suffer the greatest environmental and economic costs.

For many delegates in Baku’, the message was the same; African cities cannot afford to treat housing, climate and economic development as separate problems. The question is whether the financing will follow.

Report suggests ‘ could fall into the ’ dependency trap in AI trade with Europe, US and Asia

26/05/2026 by the Logistics TransportIn the the General Assembly

While artificial intelligence (AI) is reshaping global trade and economic power, Europe is at risk of falling into the trap of technology “addiction, according to a new report.

Insurance company Allianz’'s report suggests that the world economy is being reorganized around technology industries such as cloud computing, data centers and semiconductors, where Europe’ is weaker than the US and Asia’.

Asia, this part of the world economy %With 65’i and seven of the world's top 10 AI exporters, it dominates the export of AI-related goods. This sector grew from $1 trillion in 2014’te (880 billion euros) to $3.8 trillion in 2025’te (3.3 trillion euros).

The U.S. has tripled its AI-related imports since 2023’, largely due to the country's investments in data centers and cloud computing. It is also home to almost half of the world's data centers.

Meanwhile, Europe’'s imports related to artificial intelligence were only in the same period. %It increased by 40, which highlighted what Allianz’ describes as an expanding “ infrastructure vulnerability, ”.

“ has a modest role in the bloc's AI supply chain, which leaves the region facing ” with limited strategic leverage and meaningful exposure to supply chain disruptions, the report said.

American ‘ connected to termination key’

The American technology giants, Avrupa’'s operational computing capacity %It controls 40’ and nearly half of its upcoming data center projects.

These firms benefit from a weak market for private investment in companies and low competition from local firms, the report said.

USA also Europe’'s cloud computing market ’'s market share, Avrupa’'s corporate software revenue ’una and customer management software %It has a market share of 73’. This causes players outside the U.S. to compete for “ remaining margins. In the report, “ said that structural constraints, fragmented regulation, complex permission processes, network connectivity delays, the absence of a native hyperscaler, and limited VC or state-sponsored funding reinforce this dependency.

Europe is also dependent on hardware outputs from Asya’, such as graphics processing units (GPU’s) required for training AI models. Block, all IT equipment ’sini imports more than half of the hardware materials needed for its data centers from five Asian countries: Taiwan, China, South Korea, Malaysia and Vietnam.

The report found that this dependence on Asian hardware complemented ’'s dependence on “, which would increase the ” of the USA if no independent investment was made in that area.

According to the report, “Europe, within this framework, is constantly using the US’ termination key for ‘'s cloud data, under the threat of ’; This means that the country can shut down these services at any time. “If AI-related markets are created abroad, this will widen the EU-US service imbalance.”

Europe’'s double gap‘

Unlike the U.S. ’, where private companies pour hundreds of billions of dollars into artificial intelligence infrastructure, or China ’, where the government facilitates investments, “ is suffering from insufficient private capital and fragmented public policy, which the report calls open ”.

To avoid falling into the trap of ’ technology addiction, the European Union must eliminate regulatory and capital constraints for “, the report said.

For example, the report notes that the combination of limited land options in cities, complex permitting processes and environmental regulations makes it difficult to build data centers. Some projects may take up to four years to come to life.

Data center projects in parts of Avrupa’ could take up to five years, the report said, as providers could not connect to some aging power grids with limited capacity and a new center could not meet peak power demands.

Despite these concerns, the report suggests that Avrupa’ still has some competitive advantages in the areas of industrial engineering, automated and regulatory artificial intelligence.

France and Sweden applauded initiatives such as independent computing projects aimed at taking public services in ’ out of the hands of US technology companies such as Google or Amazon Web Services (AWS) and instead investing in European solutions.

These initiatives promised “ counterweights, but their scale was still modest, the report said.

As Iran considers tariffs on Hormuz internet cables, how can fees threaten Europe’?

20/05/2026 by the Logistics TransportIn the the General Assembly

Iran, in a new attempt to put West’ under economic pressure, raises the idea of implementing ’ access fee“ to undersea internet cables passing through the Strait of Hormuz”; This is a move that could further strain global trade following the blockage of the transition.

The plan was first proposed by Tasnim, an Iranian news agency affiliated with the ’na (IRGC) of the Islamic Revolutionary Guard Corps.

Questions arose about who exactly should pay such tariffs and what types of services will be targeted.

From a logistical point of view, companies that operate cables under the Strait Iran’a will have to pay a “access fee”, while from a regulatory point of view, tech giants such as Google, Meta, Microsoft and Amazon will have to vaguely follow the rules defined as “Iranian laws.

Third, the Islamic Republic can also undertake cable maintenance in the Strait of Hormuz and charge more accordingly.

the " Movements" can produce itup to 13 billion Euro’ for the country.

From Ege’ to Spain’ya: How does Europe get involved?

According to the Submarine Telecom Forum’, European ’ firms from France, Italy, Greece and the UK own or are part of a management consortium of at least four cables that run under Hormuz.

Two of these cables are particularly important as they connect the Asya’ to the European’.

The first of these is Asia Africa Europe-1 (AAE1)’, whose owners include Italy’'s Retelit and Greece’'s OTEGLOBE’. Crete, Bari and Marseille reach the ’ landing points.

Secondly, PEARLS/2Africa, part of the world's largest undersea cable system, runs under the ’ of Sicily before arriving in Genoa, Marseille and Barcelona’.

How much do wages pose a threat to Europe?

Currently, there is no consensus among experts on the threats posed by Iran’.

Some argue that if the country actually imposes wages, the results will likely extend far beyond telecommunications infrastructure, affecting global trade, maritime law, military strategy, internet governance, and big power policies.

Meredith Primrose Jones, president of geopolitics and risk and compliance consulting firm Leidra’, said: “European finance institutions, cloud providers, telecommunications firms and multinational companies rely heavily on low-latency submarine cable networks for banking operations, digital services, energy trading and industrial operations.”

Any increase in political risk around the Strait of “ could increase connectivity costs, delay infrastructure projects, and create greater vulnerability for Europe’'s digital economy at a time when the region is already focused on strengthening technological resilience and strategic autonomy, ” said.

On the other hand, threats of tariff cuts and even physical sabotage of the cable are greatly underestimated by other experts.

International Cable Protection Committee (IPCC) Europe in Motion’a “Strait of Hormuz onstitutes less than ’, ” said.

The IPCC says the impact will be minimal, even in the event of cable failure, thanks to backup systems connected to the Gulf region.

Many cable systems serving the “ Bay region use branching architectures connected to larger international mainline systems, the committee said. “This network design provides additional operational flexibility and durability and helps minimize the impact of individual cable failures.”

He explained that submarine cable failures were not unusual operational events.

IPCC, “About 150-200 submarine telecommunications cable failures occur each year around the world, and about %The 70-80’i is caused by accidental human activity, such as commercial fishing activity and ship anchors, rather than sabotage, ” said.

Does anyone else charge for submarine cable access?

Iran’'s plan is not unique: Egypt already charges for underwater cable access, which provides significant revenue for the country's Telecom business model.

A Work carried out by submarinenetworks.comIn the period 2000-2019, it is estimated that the cost of landing rights, maintenance and operational support for each underwater cable operator will be approximately 1.5 million euros.

Egypt is described as a global telecommunications transit point due to the large number of cables passing through it.

The most important difference of Hormuz’ is that the cables passing through Mısır’ physically pass through its territory and are connected to its terrestrial infrastructure.

In contrast, most of the cables in Hormuz’ do not enter Iranian territory, which means that Tehran’ will have little legal basis for paid access.

The United Nations Convention on the Law of the Sea (UNCLOS) protects maritime flows and international navigation in this sense.

Iran signed the agreement in ’ in 1982, but never ratified it.

Jones, “, therefore, said that a unilateral toll system targeting global cable infrastructure would be broadly interpreted as an overuse of coastal state authority under UNCLOS principles.

Tariffs, weak demand and climatic turmoil drive AB’'s trade investment rate to 11-year low

14/05/2026 by the Logistics TransportIn the the General Assembly

European enterprises are withdrawing their investments.

According to new Eurostat data, AB’'s trade investment rate fell to its lowest level in more than a decade in the fourth quarter of 2025’ .8’e has arrived.

The ratio basically measures how much companies invest in things like machinery and buildings based on the total value they create.

The index takes into account “ regular businesses such as hotels, factories, supermarkets, airlines, etc., not banks and financial companies.

Interestingly, according to Eurostat’, the rate of work in AB’ in Q4 2019, driven by increases in intellectual property imports and dynamics of globalization (.77) While COVID-19 peaked just before ’, the current rate is the deepest point recorded after the last major financial crisis. %It is only one point above 20.93’ (first quarter of 2010).

Where are businesses reinvesting in the economy at least?

Strikingly, some of the lowest investment rates came from the main business centers of Avrupa’: Luxembourg, Ireland and the Netherlands, all %Less than 17’.

Although the proportion of Luxembourg ’ has historically been low due to the country's small industrial sector, Ireland has suffered a loss of 27 percentage points in less than a decade.

Antonio Fatas, INSEAD Professor of Economics, Europe in Motion’a says: “Business investment is an important determinant of GDP growth. Investments in equipment, software and factories are clearly behind the growth engine of … productivity.”

This is even more important for ’, which Professor Fatas“ describes as the ”shocking“, because in recent years, when it comes to productivity growth, the USA lags behind ’. %With a difference of 2’.

At the same time, Greece is almost %With 10 2015While experiencing one of the fastest increases across the bloc since ’, Hungary and Croatia saw the highest rates across the bloc; Both in the last year. It reached the record of over ’ singular countries.

Why can companies back off and bring in new investments in defense?

The European Central Bank (ECB) has several answers following its survey of the 64 leading firms in the euro area on recent and expected investment decisions and the factors that drive or restrict them.

Approximate number of large businesses surveyed %The 90’'s hesitation about spending stems from the current weak demand.

At the same time, companies %They are also deeply concerned about the low profitability, regulatory burdens and labor costs cited by more than 80’.

Geopolitical tensions have also negatively affected manufacturers, especially those affected by tariffs and the disruption of the war.

They also said unpredictable climate regulations weigh more on their long-term plans than the current energy crisis.

At the same time, the ECB noted that “ expects increased defense spending to be widely perceived as a potential catalyst for investment, and half of ”industrial firms and one-fifth of service companies expected increased defense spending to support their investments over the next three years.

The research is conducted on the majority of 39 enterprises operating in the industrial sector, while the other 25 businesses focus primarily on the service sector.

Europe’'s electricity storage race: Which countries are leading in battery capacity?

08/05/2026 by the Logistics TransportIn the the General Assembly

Most countries aim to diversify their energy sources and reduce dependence on fossil fuels. Batteries are at the heart of the transition to renewable energy. They determine how much electricity a storage system can hold and feed into the power grid.

Some countries have brought battery capacities online in recent years, while others have unveiled pipelines by making investments to expand their own capacities.

Which countries have the highest operational battery capacity in Europe? Which countries emerge as leaders when the pipeline is included?

According to Ember’in Europe and Turkey Electricity Review 2026 reports, Germany is Europe’'s leader with 2.8 gigawatts (GW) in operational battery capacity, followed by Italy (2 GW).

A second group is between 0.5 GW and 1 GW: Ireland (0.92 GW), Sweden (0.75 GW), Bulgaria (0.56 GW) and France (0.52 GW).

Romania (0.49 GW), Belgium (0.47 GW), Finland (0.39 GW), the Netherlands (0.39 GW) and Turkey (0.21 GW) complete the ranking below 0.5 GW’.

No country matches ’'s battery targets

When the project lines are included, a very different picture emerges and Turkey stands out as the most ambitious country in Europe ’ in terms of battery expansion.

The project line is calculated as the sum of the following categories: under construction, permitted and announced.

Turkey’'s 32.8 GW’ project pipeline is more than three times that of its closest competitors, Germany (10.5 GW), Poland (10.4 GW) and Italy (10.2 GW).

Ufuk Alparslan, regional leader of Ember’in and author of the Turkish Electricity Magazine 2026’, told Euronews Business’: The main success of the “ policy came when the regulator opened unlimited grid capacity for wind and solar projects integrated into storage, which attracted investors.’

Pipelines are of course not guaranteed; However, if these investment plans are implemented, they will be decisive in shaping the expected total capacity. This will make Turkey ’ the leader in Europe ’ with a total battery capacity of 32.97 GW.

This will be followed by Germany (13.26 GW), Italy (12.15 GW) and Poland (10.42 GW), each accounting for roughly a third of Turkey's total.

Romania, Spain, the Netherlands and Belgium will also see significant improvements in battery capacity, according to Ember’; But it's still modest compared to the first four countries.

Reasons behind the Great Expansion

Dr Beatrice Petrovich, senior energy analyst at Ember’ and author of the European Electricity Review 2026’, emphasized that falling battery prices have led to rapid battery storage deployments across Europe.

Euronews Business’a said: “Battery costs on grid scale, 2024According to ’ %With a decline of 45’, 2025’te fell to a record low, and in the last decade it has been about %The annual cost of 20’ continued its downward trend. As the battery economy evolves, projects become increasingly profitable without subsidies.”

Petrovich also noted that the scale of operational and future battery fleets across European countries ultimately depends on policy preferences, while technology and economy are now largely in place.

“Stable policy frameworks unlock battery potential because they mean predictable revenue streams that allow project developers to attract capital, ” said.

Petrovich explained that several EU countries, including Bulgaria, Italy and Spain, have already shown how policies can accelerate deployment.

“Germany also shows how policy uncertainty can slow progress. The proposed preferential treatment for gas in auxiliary power tenders and uncertainty over changes in the grid fee undermine investor confidence, ” added.

France lags behind in battery expansion

France will more than double its capacity to 1.12 GW’. However, this will leave him second to last among the 16 countries on the list, among the lowest in .

Nuclear power is at the heart of ’'s energy mix, which may help explain why its claims about batteries remain limited. Nuclear Energy AB’'s Energy Mixture Creating ’sini, France %He leads the block with 40. According to Ember’, France will produce electricity in 2025. ’unu was made up of nuclear energy.

Can the ’ pipeline be built in Turkey?

Alparslan stated that if a power plant project is approved and an associate license is obtained, only the network capacity is guaranteed. While securing grid capacity is one of the biggest hurdles for new installations, it does not guarantee that the project will come into play.

Alparslan, Euronews Business’a said: “Investors are eager to complete these projects. The government's decision to extend the timeline will determine how much of the planned capacity will be realized.”

“ added that if these projects cannot be implemented after the expansion, they will occupy existing grid capacity and effectively block new wind and solar installations.

By the end of 2025, Turkey’'s total installed wind and solar capacity reached 40 GW’. Accordingly, the 33 GW ’ battery project pipeline represents the country's current wind and solar capacity. %That's 83’.

However, the report states that batteries have an average storage time of 2.5 hours worldwide, while most projects in Turkey’ have storage times as short as about an hour.

Who pays more? European workers face huge gaps in income tax bills

07/05/2026 by the Logistics TransportIn the the General Assembly

Personal income tax rates vary widely across Europe. Policies and tax structures contribute to these differences.

Income level, marital status and the number of dependent children play an important role in determining how much of gross wage earnings goes to taxes.

So which European countries charge the highest and lowest personal income tax on gross wages?

Euronews Business takes a closer look at income tax rates based on the OECD’'s Taxation Fees 2026 report. These rates do not include social security premiums.

The only one without children

The first scenario is the average wage of a single person without children. %He won his 100 ’. Personal income tax (PIT) for this option in 2025, 22’si among 27 European countries that are EU members Poland’da %6.6’ to Denmark’ %It varies up to 35.3’e.

The EU-22 average %At 17.2, the OECD average %A little lower at 15.5.

History of Denmark %Iceland is the only country to exceed 30 ’ (.1) and Belgium (,6) %It is over 25’. the Estonian ’ (,6), Finland’da (,1), Ireland’da () and Norway’te (.4) and tax rates. %It's over 20’.

EuropeAmong ’'s leading economies is Italy (,1) and the United Kingdom, while taxing above the EU average, Germany (.2) is consistent with this. the Spanish (,1) and France (.7) is slightly lower.

Poland’ as well as Czechia’da (%9.7) single digits were reached. Switzerland and Slovakia %It's under 12’.

Single-income couple with two children

In most cases, a single-income couple with two children pays less tax than a single person without children. the EU (EU.2 vs. ) and OECD (.5 vs. 15.5 ) Averages reflect this.

In this scenario, income tax rates Slovakia’da -nmark with 6.5’da %It ranges from 31.8. A negative tax rate means that taxes are returned rather than deducted. Germany is only %It is approaching this threshold by applying a rate of 0.7’.

the Polish ’ (%1,1), Czechia’da (%3,3), Portugal’de (%4,5) and Slovenia’da (%4.7) a single-income couple with two children %He pays less than 5’.

In this scenario, this ratio is in Estonia’ (,6), Finland’da (), Iceland’da (,4) and Norway’te (.4 is still %It's over 20’.

Two-child, two-income couple

In the third scenario, both of the average wage %A two-child, two-income couple who earns 100’ pays slightly less tax than a single person who does not have children. EU-22 and OECD averages, respectively .5 and %It is 14.3’.

Rates in this scenario Slovakia’da nmark with 4.7’da %It varies from 35.3.

Tax Foundation economist Alex Mengden explained that under the generally fixed income tax system, households with two children, whether single-income or two-earnings, are subject to the same PIT’e. With increased rate tax systems, two-income couples pay higher taxes.

Why is tax mix important for country differences?

Edoardo Magalini, OECD analyst and statistician and co-author of the report, points to various reasons for differences at the country level.

Euronews Business’a said: “First of all, countries have ‘ different approaches to ’ tax mixes, depending on their income needs, the structure of their economies, as well as the historical development of their financial institutions.”

“Some countries charge VAT or taxes (corporate income taxes, capital income taxes, etc.) on different types of income.

Income tax alone doesn't tell the whole story

Magalini noted that the total tax burden on labor income also depends on other payments outside of PIT’s, such as social security contributions (SSCs) paid by both employees and employers.

Denmark, for example, stands out as the country with the highest PIT rate. But the workers there pay almost no social security premiums. France, on the other hand, has a significant share of the SBH’s, although it appears to be below the EU-22 average.

Mengden also pointed out that different dependence on social contributions is the main cause of differences at the country level. Social security contributions vary significantly between countries, and this affects the rate of wages taken to the general home.

John Hurley, senior research director at Eurofound’, emphasized that countries with higher labor tax share in general also tend to have more progressive tax systems, meaning they tax higher income earners more heavily and lower wage earners less or no tax at all.

Where do children matter the most?

When comparing a single-income couple with two children to a single person without children, the difference in some countries is remarkable. SlovakiaThe difference in ’ reaches 17.4 percent, followed by Germany (16.5 points), Luxembourg (12 points) and Belgium (11.8 points), all above 10 points.

As the chart shows, the tax rate is the same in Estonia, Norway, Lithuania, the UK, the Netherlands, Sweden and Turkey’.

Mengden noted that the difference in the income tax rate for a childless single worker and a married couple with two children reflects the generosity of child benefits, which are mostly transferred through the income tax law.

Although some countries, such as “ Estonia, Lithuania, Norway, Sweden and Turkey, show no difference here, this does not mean that they do not offer generous child benefits; Instead, it means they may be working through other channels, such as public-provided services, direct transfers, or free co-insurance for children, ” added.

Data shows that European workers face very different income tax bills

07/05/2026 by the Logistics TransportIn the the General Assembly

Personal income tax rates vary widely across Europe. Policies and tax structures contribute to these differences.

Income level, marital status and the number of dependent children play an important role in determining how much of gross wage earnings goes to taxes.

So which European countries charge the highest and lowest personal income tax on gross wages?

Euronews Business takes a closer look at income tax rates based on the OECD’'s Taxation Fees 2026 report. These rates do not include social security premiums.

The only one without children

The EU-22 average %At 17.2, the OECD average %A little lower at 15.5.

History of Denmark %Iceland is the only country to exceed 30 ’ (.1) and Belgium (,6) %It is over 25’. the Estonia (Estonia,6), Finland (.1, from Ireland () and Norway’te (.4) and tax rates. %It's over 20’.

EuropeAmong ’'s leading economies is Italy (,1) and the United Kingdom, while taxing above the EU average, Germany (.2) is consistent with this. the Spanish (,1) and France (.7) is slightly lower.

Poland’ as well as Czechia’da (%9.7) single digits were reached. Switzerland and Slovakia %It's under 12’.

Single income couple with two children

In most cases, a single-income couple with two children pays less tax than a single person without children. the EU (EU.2 vs. ) and OECD (.5 vs. 15.5 ) Averages reflect this.

the Polish ’ (%1,1), Czechia’da (%3,3), Portugal’de (%4,5) and Slovenia’da (%4.7) a single-income couple with two children %He pays less than 5’.

In this scenario, this ratio is in Estonia’ (,6), Finland’da (), Iceland’da (,4) and Norway’te (.4 is still %It's over 20’.

Two-child, two-income couple

Rates in this scenario Slovakia’da nmark with 4.7’da %It varies from 35.3.

Why is tax mix important for country differences?

Edoardo Magalini, OECD analyst and statistician and co-author of the report, points to various reasons for differences at the country level.

“Some countries charge VAT or taxes (corporate income taxes, capital income taxes, etc.) on different types of income.

Income tax alone doesn't tell the whole story

Magalini noted that the total tax burden on labor income also depends on other payments outside of PIT’s, such as social security contributions (SSCs) paid by both employees and employers.

Where do children matter the most?

As shown in the chart, the tax rate is the same in Estonia, Norway, Lithuania, England, the Netherlands, Sweden and Turkey’.

AB’'s split over market control threatens competitiveness plans

05/05/2026 by the Logistics TransportIn the the General Assembly

BrusselsAlthough ’ is pushing for the rapid integration of a single market to advance its competitiveness agenda, EU countries are divided over rules for harmonising control of capital markets.

The divisions are largely due to the reluctance of some member states to transfer their national supervisory powers to the EU level; This is a recurring problem in the legislative process of the bloc.

The EU is accelerating its efforts to increase global competitiveness and reduce dependence on the US and China’e. To achieve this, member states are promoting a competitive agenda in which the integration of capital markets plays a central role.

The bloc aims to create a single market for capital by allowing money, including investments and savings, to flow freely across borders without regulatory barriers. Currently, capital markets are largely subject to national legislation, which creates a fragmented environment for businesses and investors.

Although some rules have been harmonized across the EU, their implementation, supervision and enforcement differ, contributing even more to fragmentation.

To solve this problem, the European Commission proposed to grant additional supervisory powers to the European Securities and Markets Authority ’ne (ESMA), which coordinates the harmonization of the rules and oversight of the EU financial markets.

But talks between EU finance ministers at the Brussels ’ on Tuesday showed no agreement and little progress at the technical level. This is despite expectations that member states will see results by June, an EU diplomat told Euronews’e.

Capital markets are environments where individuals, companies, and governments can raise and invest funds. They enable the trading of financial assets such as company shares and debt instruments.

Proponents of deeper integration argue that this will reduce costs and improve access to finance for companies, savers and investors.

According to the International Monetary Fund's 2025 data, internal barriers within a single market for services. %It is equivalent to a tariff of up to 110’.

The European Commission estimates that the market capitalization of EU stock exchanges in 2024 will be is ’ü level, while ABD’nin is %He said it was 270.

Europe’'s luxury residential boom: Which cities are driving the rise in world-class property prices?

02/05/2026 by the Logistics TransportIn the the General Assembly

Home prices are rising across Europe. Luxury homes are no exception. World-class property prices are on the move in European cities. Annual price increase in more than half of the nearly 50 cities tracked by Knight Frank’'s 2026 Asset Report 2025’te %It exceeded 3’.

So, which cities are triggering the rise in world-class property prices across Europe? So how do European luxury markets compare to the rest of the world?

First-class properties are the most desirable and most expensive properties in a given location. Usually the first in terms of value of each market %5Identified as ’i. Primary markets often have a significant international bias in terms of buyer profile.

Prague saw the highest increase

Knight Frank’'s Prime International Housing Index tracks 100 cities worldwide, including 47’si in Europe’. Prague, the capital of ’, in 2025 %With an increase of 14.6, it recorded the strongest growth among European cities.

Méribel of ’ (France%9), Portugal’den Porto (%8.5) and Marbella of ’ (Spain)%8,1) also achieved strong gains; in each order %8 He went up on ’.

Courchevel 1850’de is another French ski resort. %A strong increase of 6.9’ was seen.

Italy’ Florence and Lake Como’nde respectively %6.7 and %An increase of 6.5 was recorded.

SwitzerlandGstaad in ’ (%5.5), ItalyRome in ’ (%5,5) and Quinta do Lago in ’ (Portugal)%5,2) %5Reported increases over ’.

The top 10 European cities in the index have one thing in common: Ski resorts in the Alps, golf resorts in Portugal’ and romantic cultural cities are at the top of the list.

Europe’'s biggest fall occurred in London’

Not all European cities made a profit. London, 2025’te world-class property prices %With a fall of 4.7, he recorded the sharpest drop.

In the report, “London is evolving as changes to tax rules for wealthy residents lower budgets and encourage some to consider renting instead of buying, ” said.

Ibiza, Jersey and Lausanne in ’ %From 1 to %There have been modest declines between the two.

Other European capitals include Madrid (%5, from Oslo (%4,2 and Berlin (%3.4 It has made strong gains. the Lisbon (Lisbon%2,7), Dublin (%2,3), Vienna (%1.3, from Paris (%1,3) and Bucharest’te (%0,4, the growth was more moderate. the Stockholm ’ %While there was a slight decrease of 0.7’, prices in Edinburgh’ were flat.

Lifestyle and holiday destinations winners

Lifestyle and holiday destinations EuropeWinners by far in ’. Alpine ski resorts and Mediterranean sun destinations are at the top of the ranking. Italian cities also stand out in groups.

Big financial capital tells a different story. London, Stockholm, Paris and Milan resorts lag far behind their markets.

Tokyo is a global contrarian

Tokyo stands out as a global outlier. JapanPrices for premium real estate in the capital city of ’ 2025’te %It's up 58.5. Tokyo’'s newly built housing market is on the rise due to scarcity, low interest rates and strong domestic demand from the Asia-Pacific ’, the report said.

Dubai %2nd place with an increase of 25.1’; But the data predates the US-Israeli ’ attack on Iran’ and Tehran’'s subsequent reaction to the Gulf states.

Manila and Seoul were also in the top five, and each %It increased by about 15-20.

Prague is in the top five, making it the top-ranked European city worldwide.

Liam Bailey, editor of The Wealth Report’, said that first-class residential property in many markets has moved away from the wider residential sector, backed by the power of wealth creation.

While mainstream markets are subject to broader economic pressures, the speed at which wealth is created helps keep demand for luxury properties more resilient, even against recent fluctuations in debt costs.“

The biggest losses in China and Canada’da

China’in Guangzhou’su recorded the biggest drop; first-class real estate prices %It's down 12.2. the Shenzhen (Shenzhen%7,2), Shanghai (%5) and Beijing (%4.9) is also among the steepest global declines, indicating a broad slowdown in Chinese cities.

CanadaApproximately in each of ’'s provinces of Toronto and Vancouver %7’ descents were seen.

Tourist-friendly markets such as Portugal, Croatia and Spain recorded even stronger increases, according to Eurostat’, while EU home prices increased by 2025 year-on-year in the last quarter of ’. %It's up 5.5.