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The 12 largest superyachts at the 2018 Monaco Yacht Show, ranked – Lifestyle – Pulselive.co.ke

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  • The Monaco Yacht Show, yachting’s biggest event, kicked off on September 26.
  • More than $3.5 billion worth of yachts are on display, with an average length of 168 feet.
  • Here’s a look at the 12 largest superyachts at the Monaco Yacht Show.

The Monaco Yacht Show, often dubbed yachting’s most prestigious event, kicked off on September 26.

On display in the glittering Port Hercules are 121 superyachts, collectively worth $3.5 billion. Individually, the average value of each superyacht is around $31 million.

Of these superyachts, 42 are making their worldwide debut and 45% are less than two years old. But equally as impressive as their worth and age is their size — the average length of superyachts on display is around 168 feet, an increase from last year’s Monaco Yacht Show. The average volume has also increased by nearly 15%.

But that’s nothing compared to the show’s superstars — the giant superyachts that cast that average into the shadows. The biggest yacht, Aquarius, is 312 feet, while the biggest debut, Dar, comes in at 295 feet.

We rounded up the 12 largest superyachts on display at the Monaco Yacht Show, which are all more than 230 feet. Here’s what that looks like.

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See the rest of the story at Business Insider



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Kenya needs a new tax policy that will drive the economy forward

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Hundreds of Locals await services at the Kenya Revenue Authority.[Maarufu Mohamed, Standard]

While Kenya’s history is replete with economic blueprints ranging from Vision 2030 to the Big Four Agenda, there has not been clear articulation of the principles guiding the collection of revenue to fund the country’s growth plans.
And as Kenyans find themselves facing a mountain of debt and its attendant high taxation policies that touch on everything from bread to infant milk, the anger is palpable.
Now more than ever, there is a great need to have a new tax policy that outlines the principles that will guide the Kenyan economy into prosperity.
Ideas around taxation principles have been floated by various thinkers over the last few centuries. Adam Smith wrote in the Wealth of Nations that “…the economic incomes of private people are of three main types: rent, wages and profit. Ordinary taxpayers will ultimately pay their taxes from at least one of these revenue sources.”
In his mind, Smith must have classified the entire economy into the three factors of production of land, labour and enterprise. His ideas have been enriched over time and today we also include the fourth factor of production which is capital – whose income is in the form of interest.
In many ways, these four factors of production might be compared to the four legs of a table that give it stability and balance. They are the four building blocks of the economy – emphasising one at the expense of others creates an imbalance and generates instability across the entire system.
Of all the four factors of production, it is the entrepreneur who has borne the brunt of over taxation.  From the introduction of the digital service tax targeting online businesses to the increase in VAT on fuel products, and now with the controversial minimum tax laws, the catalogue of obstacles facing the business community is alarming.
All this while, the Covid pandemic is ravaging the economy, leaving many jobless and contributing to a very restless environment. Whereas many might hope that the full reopening of the economy will help mitigate this harsh environment, there is a wave of discontentment across the country that calls for a fundamental transformation of our economic model into one that values and promotes enterprise and innovation.

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In sharp contrast, the factor of production associated with capital appears to have been spared from the harsh taxation regime evident in the other areas. The Treasury proposal to remove the excise tax of 20 per cent on bank loans will lessen the tax load in the banking sector by up to Sh7 billion annually. There was a promise that this could see banks reducing loan costs, but these claims have been impeached by evidence on the ground pointing to the contrary.
Such examples reinforce a narrative that Kenya’s economic model is anchored on punishing enterprise but rewarding capital.
In the final analysis, a sense of balance and stability can only be achieved through a new tax policy that equally draws from all the factors of production.  Through a spirit of shared responsibility, Kenya can be able to raise enough tax revenue without one party feeling overburdened.
The writer is Chief Economist at Mentoria Economics

 

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Two More Deaths Reported as Kenya’s Covid-19 Positivity Rate Drops Further to 3.1% –

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Kenya’s Covid-19 positivity rate has dropped to 3.1 per cent from 6 per cent recorded on Saturday, May 15, 2021.

In a statement released on Sunday, the Ministry of Health announced 86 new cases from a sample size of 2,789 tested in the last 24 hours.

From the new cases, 84 are Kenyans and two are foreigners. 44 are females and 42 males.

Total confirmed positive cases are now 165,465 and cumulative tests so far conducted are 1,744,393.

The new cases are distributed in the counties as follows: Nairobi 27, Uasin Gishu 8, Kilifi 8, Mombasa 7, Busia, Migori, Kisii & HomaBay 4 each, Kericho and Machakos 3 cases each, Laikipia & Embu 2 cases each, Kiambu, Kisumu, Makueni, Murang’a, Nakuru, Nandi, TaitaTaveta, WestPokot and Kajiado & Elgeyo Marakwet 1 each.

Read: Kenya Records 267 Covid-19 Cases in the Last 24 hours as Positivity Rate Drops to 6 Percent

123 more patients have recovered, 65 from various health facilities countrywide while 58 are from the Home Based and Isolation Care.

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Total recoveries now stand at 113,612 of whom 82,542 are from Home Based Care & Isolation, while 31,070 are from various health facilities countrywide.

The Mutahi Kagwe led ministry also announced two more deaths.

The deaths occurred on diverse dates within the last one month. This now pushes the cumulative fatalities to 3,003.

Read Also: How Kemsa Rejected Discounted Offers For PPEs

Currently, there are 1,030 patients admitted in various health facilities countrywide, while 4,815 patients are under the Home Based Isolation & Care Program.

109 patients are in the ICU, 24 of whom are on ventilatory support & 70 on supplemental oxygen. 15 patients are on observation.

81 patients are separately on supplemental oxygen with 76 of them in general wards and five in High Dependency Units.

Email your news TIPS to [email protected] or WhatsApp +254708677607. You can also find us on Telegram through www.t.me/kahawatungu

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Cheers, flak as split over BBI widens

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High Court verdict on the Building Bridges Initiative (BBI) petitions continues to elicit mixed reactions from political players.
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