EU allocates 500 mln euros for ammunition production

STORY: EU allocates 500 mln euros for ammunition production SHOOTING TIME: March 15, 2024/recent footage DATELINE: March 16, 2024 LENGTH: 00:02:46 LOCATION: Brussels CATEGORY: ECONOMY SHOTLIST: 1. various of the European Commission Berlaymont building 2. various of a military exercise at the Rota base in Southern Spain STORYLINE: The European Commission on Friday announced the allocation of 500 million euros (about 544 million U.S. dollars) to boost ammunition production as part of its support for the European defense industry. In a statement, the commission said this would allow the European defense industry to increase its ammunition production to two million shells a year by the end of 2025. Its annual production capacity for 155 mm shells reached 1 million per year in January. To assist the European industry in increasing its ammunition production and readiness, the commission said it selected 31 projects in five areas: explosives, powder, shells, missiles and testing and reconditioning certifi

Turkey announces new tax cuts to fight high inflation

STORY: Turkey announces new tax cuts to fight high inflation DATELINE: March 30, 2022 LENGTH: 00:02:14 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: various of the press conferenceSOUNDBITE (Turkish): RECEP TAYYIP ERDOGAN, Turkish Presidentvarious of street view STORYLINE: Turkish President Recep Tayyip Erdogan on Monday announced value-added tax (VAT) cuts on several products to fight inflation. The VAT cuts included mostly necessities, such as hygiene products and medical equipment, Erdogan said at a press conference after a cabinet meeting. SOUNDBITE (Turkish): RECEP TAYYIP ERDOGAN, Turkish President "We have decided to reduce the VAT on products such as detergent, soap, toilet paper, napkins and baby diapers from 18 percent to 8 percent." The government will also reduce the financial burden on the construction industry by cutting the VAT on landed property to 8 percent, the president added. In the agricultural sector, the country will reduce VAT to 1 percent on all kinds of certifi