As Davos opens, Oxfam urges windfall tax on food companies

13 Sept 15:15 Key points summarised by AI

Oxfam urges a windfall tax on food and energy companies, arguing they are making excessive profits amidst global crises and surging inflation, contributing to widening inequality.
The anti-poverty group highlights that the world's wealthiest 1% have gained nearly twice as much wealth as the remaining 99% in the past two years, while 1.7 billion workers face inflation outpacing wage growth.
Oxfam contends that wealthy corporations exploit crises to hike prices, with 84% of windfall profits from 95 analyzed companies paid to shareholders, not passed to consumers.
The call for action comes as the World Economic Forum opens, with Oxfam advocating for measures similar to Portugal's 33% windfall tax on major food retailers and energy firms to fund welfare programs.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.