Russia’s luxury tax – a campaign pledge by President Vladimir Putin – is taking shape. Though attaining social equality through taxing the rich has proven tough, the Russian parliament has outlined legislation to sharply raise taxes on luxury cars.
Russian stocks continued their slump, falling a fifth consecutive day as crude oil declined. The rouble strengthened against the dollar, closing at 31.34, and continues to gain momentum on Asian floors, currently up 0.17 percent to 31.40 at 9:41 MSK.
Israeli Prime Minister Benjamin Netanyahu has found himself wrapped in a blanket of controversy over his posh in-flight sleeping arrangements. It comes after reports that he and his wife had a $127,000 bedchamber custom-built for a flight to London.
“Unable to resist attack without assistance,” is how a watchdog report described France’s prestigious Republican Guard in a damning report. It recommended the downsizing of the force amid sweeping cuts to France’s defense budget.