title: Value-added tax

text: The National Board of Revenue (NBR) of the Ministry of Finance of the Government of Bangladesh is the apex organization administering the value-added tax. Relevant rules and acts include: Value Added Tax Act, 1991; Value Added Tax and Supplementary Duty Act, 2012; Development Surcharge and Levy (Imposition and Collection) Act, 2015; and Value Added Tax and Supplementary Duty Rules, 2016. Anyone who is selling a product and collects VAT from buyers becomes a VAT Trustee if they: register their business and collect a Business Identification Number (BIN) from the NBR; submit VAT returns on time; offer VAT receipts to consumers; store all cash-memos; and use the VAT rebate system responsibly. Anyone who works in the VAT or Customs department in the NBR and deals with VAT trustees is a VAT Mentor. The flat rate of VAT is 15%.


title: Value-added tax

text: VAT in Barbados was introduced on 1 January 1997 and replaced 11 other different taxes. It was originally introduced at a rate of 15% but was later increased to a rate of 17.5% on most goods and services in 2011. VAT on restaurant and hotel accommodations between 10% and 15% while no tax is levied on certain foods and goods listed by the government. The revenue is collected by the Barbados Revenue Authority.


title: Value-added tax

text: Goods and Services Tax (GST) is a value-added tax introduced by the Federal Government in 1991 at a rate of 7%, later reduced to the current rate of 5%. A Harmonized Sales Tax (HST) that combines the GST and provincial sales tax together, is collected in New Brunswick (15%), Newfoundland (15%), Nova Scotia (15%), Ontario (13%) and Prince Edward Island (15%), while British Columbia had a 12% HST from 2010 until 2013. Quebec has a de facto 14.975% HST: its provincial sales tax follows the same rules as the GST, and both are collected together by Revenu Québec. Advertised and posted prices generally exclude taxes, which are calculated at the time of payment; common exceptions are motor fuels, the posted prices for which include sales and excise taxes, and items in vending machines as well as alcohol in monopoly stores. Basic groceries, prescription drugs, inward/outbound transportation and medical devices are exempt.


title: Value-added tax

text: VAT was implemented in China in 1984 and is administered by the State Administration of Taxation. In 2007, the revenue from VAT was 15.47 billion yuan ($2.2 billion) which made up 33.9 percent of China's total tax revenue for the year. The standard rate of VAT in China is 13%. There is a reduced rate of 9% that applies to products such as books and types of oils, and 6% for services except for PPE lease.


title: Value-added tax

text: The European Union value-added tax (EU VAT) covers consumption of goods and services and is mandatory for member states of the European Union. The EU VAT's key issue asks where the supply and consumption occurs thereby determining which member state will collect the VAT and which VAT rate will be charged.


title: Value-added tax

text: Each member state's national VAT legislation must comply with the provisions of EU VAT law, which requires a minimum standard rate of 15% and one or two reduced rates not to be below 5%. Some EU members have a 0% VAT rate on certain supplies; these states would have agreed this as part of their EU Accession Treaty (for example, newspapers and certain magazines in Belgium). Certain goods and services must be exempt from VAT (for example, postal services, medical care, lending, insurance, betting), and certain other goods and services to be exempt from VAT but subject to the ability of an EU member state to opt to charge VAT on those supplies (such as land and certain financial services). The highest rate currently in operation in the EU is 27% (Hungary), though member states are free to set higher rates. There is, in fact, only one EU country (Denmark) that does not have a reduced rate of VAT.


title: Value-added tax

text: There are some areas of member states (both overseas and on the European continent) which are outside the EU VAT area, and some non-EU states that are inside the EU VAT area. External areas may have no VAT or may have a rate lower than 15%. Goods and services supplied from external areas to internal areas are considered imported. (See for a full listing.)


title: Value-added tax

text: VAT that is charged by a business and paid by its customers is known as "output VAT" (that is, VAT on its output supplies). VAT that is paid by a business to other businesses on the supplies that it receives is known as "input VAT" (that is, VAT on its input supplies). A business is generally able to recover input VAT to the extent that the input VAT is attributable to (that is, used to make) its taxable outputs. Input VAT is recovered by setting it against the output VAT for which the business is required to account to the government, or, if there is an excess, by claiming a repayment from the government. Private people are generally allowed to buy goods in any member country and bring it home and pay only the VAT to the seller. Input VAT that is attributable to VAT-exempt supplies is not recoverable, although a business can increase its prices so the customer effectively bears the cost of the "sticking" VAT (the effective rate will be lower than the headline rate and depend on the balance between previously taxed input and labour at the exempt stage).


title: Value-added tax

text: Increased growth and pressure on the GCC's governments to provide infrastructure to support growing urban centers, the Member States of the Gulf Co-operation Council (GCC), which together make up the Gulf Co-operation Council (GCC), have felt the need to introduce a tax system in the region.


title: Value-added tax

text: In particular, the United Arab Emirates (UAE) on 1 January 2018 implemented VAT. For companies whose annual revenues exceed $102,000 (Dhs 375,000), registration is mandatory. Oman's Minister of Financial Affairs indicated that GCC countries have agreed the introductory rate of VAT is 5%.


title: Value-added tax

text: The Kingdom of Saudi Arabia VAT system was implemented on 1 January 2018 at 5% rate. However, on 11 May 2020 the Kingdom of Saudi Arabia announced to increase the VAT from 5% to 15% as of 1 July 2020, due to the effects of the Corona pandemic and the decline in oil prices.


title: Value-added tax

text: VAT was introduced into the Indian taxation system from 1 April 2005. Of the then 28 Indian states, eight did not introduce VAT at first instance. There is uniform VAT rate of 5% and 14.5% all over India. The government of Tamil Nadu introduced an act by the name Tamil Nadu Value Added Tax Act 2006 which came into effect from 1 January 2007. It was also known as the TN-VAT. Under the BJP government, a new national Goods and Services Tax was introduced under the One Hundred and First Amendment of the Constitution of India.


title: Value-added tax

text: Value-added tax (VAT) was introduced into the Indonesian taxation system from 1 April 1985. General VAT rate is ten percent. There are currently plans to raise the standard VAT rate to 12%. Using indirect subtraction method with invoice to calculate value-added tax payable. VAT was Collected by the Directorate General of Taxation, Ministry of Finance. Some goods and services are exempt from VAT like basic commodities vital to the general public, medical or health services, religion services, educational services and Services provided by the government in respect of carrying out general governmental administration.


title: Value-added tax

text: The Italian Government used to apply a full value multi-phase tax on sales (IGE), but it switched to the more efficient IVA, an indirect multi-phase tax on the Added Value. It uses a system of compensation (Debit-Credit Tax) and companies pay the tax on the good and services they buy. However, they can deduct it, bringing it to compensation with the taxes they collect form their client. In the end the system allows to apply a final taxation to the consumer of a fixed amount, regardless of the taxation applied during the production process. The percentages are: 4% for essential goods and services, 10% for medicines and drugs, 22% for ordinary goods and services.


title: Value-added tax

text: Value-added tax (VAT) was first imposed in Israel on 1 July 1976, by virtue of the Value Added Tax Law, following the recommendations of the Asher Committee, which dealt with this matter during the first Rabin government. The initial rate of VAT was 8%.


title: Value-added tax

text: From June 2013 to September 2015, the VAT rate was 18 percent. Since then, the VAT rate in Israel has been 17%.


title: Value-added tax

text: in Japan is 8%, which consists of a national tax rate of 6.3% and a local tax of 1.7%. It is usually (but not always) included in posted prices. From 1 October 2019, the tax rate is proposed to increase to 10% for most goods, while groceries and other basic necessities will remain at 8%.


title: Value-added tax

text: The goods and services tax (GST) is a value-added tax introduced in Malaysia in 2015, which is collected by the Royal Malaysian Customs Department. The standard rate is currently set at 6%. Many domestically consumed items such as fresh foods, water, electricity and land public transportation are zero-rated, while some supplies such as education and health services are GST exempted. After being revised by the newly elected government after the General Election 14, GST will be removed across Malaysia from 1 June 2018 onwards.


title: Value-added tax

text: As of 8 August 2018, the goods and services tax (GST) has been abolished and replaced by sales and services tax (SST) under the new government which promised to do so in their manifesto. The new SST or SST 2.0, is on track to be rolled out on 1 September 2018. Former Finance Minister Lim Guan Eng said that failure to do so would result in an operating deficit of RM4 billion (approximately 969 million in USD) for the Malaysian government. Under the new tax system, selected items will be subjected to a 5% or 10% tax while services will be subjected to a 6% tax.


title: Value-added tax

text: Value-added tax (, IVA) is a tax applied in Mexico and other countries of Latin America. In Chile, it is also called and, in Peru, it is called or "IGV".


title: Value-added tax

text: Prior to the IVA, a sales tax () had been applied in Mexico. In September 1966, the first attempt to apply the IVA took place when revenue experts declared that the IVA should be a modern equivalent of the sales tax as it occurred in France. At the convention of the Inter-American Center of Revenue Administrators in April and May 1967, the Mexican representation declared that the application of a value-added tax would not be possible in Mexico at the time. In November 1967, other experts declared that although this is one of the most equitable indirect taxes, its application in Mexico could not take place.


title: Value-added tax

text: In response to these statements, direct sampling of members in the private sector took place as well as field trips to European countries where this tax was applied or soon to be applied. In 1969, the first attempt to substitute the mercantile-revenue tax for the value-added tax took place. On 29 December 1978 the Federal government published the official application of the tax beginning on 1 January 1980 in the Official Journal of the Federation.


title: Value-added tax

text: As of 2010, the general VAT rate was 16%. This rate was applied all over Mexico except for bordering regions (i.e. the United States border, or Belize and Guatemala), where the rate was 11%. The main exemptions are for books, food, and medicines on a 0% basis. Also some services are exempt like a doctor's medical attention. In 2014 Mexico Tax Reforms eliminated the favorable tax rate for border regions and increased the VAT to 16% across the country.


title: Value-added tax

text: VAT was implemented in 1998 and is the major source of government revenue. It is administered by Inland Revenue Department of Nepal. Nepal has been levying two rates of VAT: Normal 13% and zero rate. In addition, some goods and services are exempt from VAT.


title: Value-added tax

text: The goods and services tax (GST) is a value-added tax that was introduced in New Zealand in 1986, currently levied at 15%. It is notable for exempting few items from the tax. From July 1989 to September 2010, GST was levied at 12.5%, and prior to that at 10%.


title: Value-added tax

text: MOMS (, formerly ), (bokmål) or (nynorsk) (abbreviated "MVA"), (until the early 1970s labeled as OMS only), (abbreviated "VSK"), (abbreviated "MVG") or Finnish: (abbreviated "ALV") are the Nordic terms for VAT. Like other countries' sales and VAT, it is an indirect tax.


title: Value-added tax

text: In Denmark, VAT is generally applied at one rate, and with few exceptions is not split into two or more rates as in other countries (e.g. Germany), where reduced rates apply to essential goods such as foodstuffs. The current standard rate of VAT in Denmark is 25%. That makes Denmark one of the countries with the highest value-added tax, alongside Norway, Sweden and Croatia. A number of services have reduced VAT, for instance public transportation of private persons, health care services, publishing newspapers, rent of premises (the lessor can, though, voluntarily register as VAT payer, except for residential premises), and travel agency operations.


title: Value-added tax

text: In Finland, the standard rate of VAT is 24% as of 1 January 2013 (raised from previous 23%), along with all other VAT rates, excluding the zero rate. In addition, two reduced rates are in use: 14% (up from previous 13% starting 1 January 2013), which is applied on food and animal feed, and 10%, (increased from 9% 1 January 2013) which is applied on passenger transportation services, cinema performances, physical exercise services, books, pharmaceuticals, entrance fees to commercial cultural and entertainment events and facilities. Supplies of some goods and services are exempt under the conditions defined in the Finnish VAT Act: hospital and medical care; social welfare services; educational, financial and insurance services; lotteries and money games; transactions concerning bank notes and coins used as legal tender; real property including building land; certain transactions carried out by blind persons and interpretation services for deaf persons. The seller of these tax-exempt services or goods is not subject to VAT and does not pay tax on sales. Such sellers therefore may not deduct VAT included in the purchase prices of his inputs. Åland, an autonomous area, is considered to be outside the EU VAT area, even if its VAT rate is the same as for Finland. Goods brought from Åland to Finland or other EU countries are considered to be export/import goods. This enables tax-free sales onboard passenger ships.


title: Value-added tax

text: In Iceland, VAT is split into two levels: 24% for most goods and services but 11% for certain goods and services. The 11% level is applied for hotel and guesthouse stays, licence fees for radio stations (namely RÚV), newspapers and magazines, books; hot water, electricity and oil for heating houses, food for human consumption (but not alcoholic beverages), access to toll roads and music.


title: Value-added tax

text: In Norway, VAT is split into three levels: 25% general rate, 15% on foodstuffs and 12% on the supply of passenger transport services and the procurement of such services, on the letting of hotel rooms and holiday homes, and on transport services regarding the ferrying of vehicles as part of the domestic road network. The same rate applies to cinema tickets and to the previous television licence (abolished in January 2020). Financial services, health services, social services and educational services are all outside the scope of the VAT Act. Newspapers, books and periodicals are zero-rated. Svalbard has no VAT because of a clause in the Svalbard Treaty.


title: Value-added tax

text: In Sweden, VAT is split into three levels: 25% for most goods and services, 12% for foods including restaurants bills and hotel stays and 6% for printed matter, cultural services, and transport of private persons. Some services are not taxable for example education of children and adults if public utility, and health and dental care, but education is taxable at 25% in case of courses for adults at a private school. Dance events (for the guests) have 25%, concerts and stage shows have 6%, and some types of cultural events have 0%.


title: Value-added tax

text: The current VAT rate in the Philippines stands at 12%. Like in most other countries, the amount of tax is included in the final sales price.


title: Value-added tax

text: Senior citizens are however exempted from paying VAT for most goods and some services that are for their personal consumption. They will need to show a government-issued ID card that establishes their age at the till to avail of the exemption.


title: Value-added tax

text: According to the Russian tax code the value-added tax is levied at the rate of 20% for all goods with several exemptions for several types of products and services (like medicare etc.).


title: Value-added tax

text: Organizations (industrial and financial, state and municipal enterprises, institutions, business partnerships, insurance companies and banks), enterprises with foreign investments, individual entrepreneurs,


title: Value-added tax

text: international associations and foreign legal entities that carry out entrepreneurial activities in the territory of the Russian Federation, non-commercial organizations in the event of their commercial activities, and persons recognized as taxpayers of value-added tax in connection with the movement of goods across the customs border of the Customs Union.


title: Value-added tax

text: In Spain, the VAT law has categorized goods and services into three types based on function, with according tax percentages. These three types of VAT are general VAT, reduced VAT and super-reduced VAT. However, there are some goods to which this tax is not applied.


title: Value-added tax

text: This VAT is 21%. This tax is the most common in the country because it is applied to any good or service made or performed in Spain. This percentage is from September 2018. Before that, the percentage was 18% and two years before that it was 16%. , no change to the general VAT is being studied by the government. Therefore, it would be 21%.


title: Value-added tax

text: This VAT is 10% and applies to foods, except staple foods. It is also applied to hostelry services, passenger transport and real estate sales. Specifically, this tax applies to:


title: Value-added tax

text: In this group is essential goods. For that reason, this VAT is 4%. The different goods to which this percentage is applied are:


title: Value-added tax

text: Value-added tax (VAT) in South Africa was set at a rate of 14% and remained unchanged since 1993. Finance Minister Malusi Gigaba announced on 21 February 2018 that the VAT rate will be increased by one percentage point to 15%. Some basic food stuffs, as well as paraffin, will remain zero-rated. The new rate is to be effective from 1 April 2018.


title: Value-added tax

text: Switzerland has a customs union with Liechtenstein that also includes the German exclave of Büsingen am Hochrhein. The Switzerland–Liechtenstein VAT area has a general rate of 7.7% and a reduced rate of 2.5%. A special rate of 3.7% is in use in the hotel industry.


title: Value-added tax

text: Value-added tax (VAT) in T&T is currently 12.5% as of 1 February 2016. Before that date VAT used to be at 15%.


title: Value-added tax

text: In Ukraine, the revenue to state budget from VAT is the most significant. Under the Ukrainian tax code, there are three VAT rates: 20% (general tax rate; applied to most goods and services), 7% (special tax rate; applied mostly to medicines and medical products import and trade operations) and 0% (special tax rate; applied mostly to export of goods and services, international transport of passengers, baggage and cargo).


title: Value-added tax

text: The default VAT rate is the standard rate, 20% since 4 January 2011. Some goods and services are subject to VAT at a reduced rate of 5% or 0%. Others are exempt from VAT or outside the system altogether.


title: Value-added tax

text: Due to COVID-19, the United Kingdom temporarily reduced the VAT on tourism and hospitality. These sectors had a reduced 5% VAT rate until 30 September 2021. Between 1 October 2021 and 31 March 2022 the VAT rate then raised to 12.5%. From 1 April 2022, the VAT rate returned to the standard 20%.


title: Value-added tax

text: In the United States, currently, there is no federal value-added tax (VAT) on goods or services. Instead, a sales and use tax is used in most US states. VATs have been the subject of much scholarship in the US and are one of the most contentious tax policy topics.


title: Value-added tax

text: In 2015, Puerto Rico passed legislation to replace its 6% sales and use tax with a 10.5% VAT beginning 1 April 2016, although the 1% municipal sales and use tax will remain and, notably, materials imported for manufacturing will be exempted. In doing so, Puerto Rico will become the first US jurisdiction to adopt a value-added tax. However, two states have previously enacted a form of VAT as a form of business tax in lieu of a business income tax, rather than a replacement for a sales and use tax.


title: Value-added tax

text: The state of Michigan used a form of VAT known as the "Single Business Tax" (SBT) as its form of general business taxation. It is the only state in the United States to have used a VAT. When it was adopted in 1975, it replaced seven business taxes, including a corporate income tax. On 9 August 2006, the Michigan Legislature approved voter-initiated legislation to repeal the Single Business Tax, which was replaced by the Michigan Business Tax on 1 January 2008.


title: Value-added tax

text: The state of Hawaii has a 4% General Excise Tax (GET) that is charged on the gross income of any business entity generating income within the State of Hawaii. The State allows businesses to optionally pass on their tax burden by charging their customers a quasi sales tax rate of 4.166%. The total tax burden on each item sold is more than the 4.166% charged at the register since GET was charged earlier up the sales chain (such as manufacturers and wholesalers), making the GET less transparent than a retail sales tax.


title: Value-added tax

text: Soon after President Richard Nixon took office in 1969, it was widely reported that his administration was considering a federal VAT with the revenue to be shared with state and local governments to reduce their reliance on property taxes and to fund education spending. Former 2020 Democratic presidential candidate Andrew Yang advocated for a national VAT in order to pay for universal basic income. A national subtraction-method VAT, often referred to as a "flat tax", has been part of proposals by many politicians as a replacement of the corporate income tax.


title: Value-added tax

text: A border-adjustment tax (BAT) was proposed by the Republican Party in their 2016 policy paper ""A Better Way – Our Vision for a Confident America"", which promoted a move to a "destination-based cash flow tax" (DBCFT), in part to compensate for the U.S. lacking a VAT. As of March 2017 the Trump Administration was considering including the BAT as part of its tax reform proposal.


title: Value-added tax

text: Value-added tax (VAT) in Vietnam is a broadly based consumption tax assessed on the value added to goods and services arising through the process of production, circulation, and consumption. It is an indirect tax in Vietnam on domestic consumption applied nationwide rather than at different levels such as state, provincial or local taxes. It is a multi-stage tax which is collected at every stage of the production and distribution chain and passed on to the final customer. It is applicable to the majority of goods and services bought and sold for use in the country. Goods that are sold for export and services that are sold to customers abroad are normally not subject to VAT.


title: Value-added tax

text: All organizations and individuals producing and trading VAT taxable goods and services in Vietnam have to pay VAT, regardless of whether they have Vietnam-based resident establishments or not.


title: Value-added tax

text: Vietnam has three VAT rates: 0 percent, 5 percent and 10 percent. 10 percent is the standard rate applied to most goods and services unless otherwise stipulated.


title: Value-added tax

text: The "value-added tax" has been criticized as the burden of it falls on personal end-consumers of products. Some critics consider it to be a regressive tax, meaning that the poor pay more, as a percentage of their income, than the rich. Defenders argue that relating taxation levels to income is an arbitrary standard, and that the value-added tax is in fact a proportional tax; an OECD study found that it could be slightly progressive—but still have significant equity implications for the poor—as people with higher income pay more as they consume more. The effective regressiveness of a VAT system can also be affected when different classes of goods are taxed at different rates. Some countries implementing a VAT have reduced income tax on lower income-earners as well as instituted direct transfer payments to lower-income groups, resulting in lowering tax burdens on the poor.


title: Value-added tax

text: Revenues from a value-added tax are frequently lower than expected because they are difficult and costly to administer and collect. In many countries, however, where collection of personal income taxes and corporate profit taxes has been historically weak, VAT collection has been more successful than other types of taxes. VAT has become more important in many jurisdictions as tariff levels have fallen worldwide due to trade liberalization, as VAT has essentially replaced lost tariff revenues. Whether the costs and distortions of value-added taxes are lower than the economic inefficiencies and enforcement issues (e.g. smuggling) from high import tariffs is debated, but theory suggests value-added taxes are far more efficient.


title: Value-added tax

text: Certain industries (small-scale services, for example) tend to have more VAT avoidance, particularly where cash transactions predominate, and VAT may be criticized for encouraging this. From the perspective of government, however, VAT may be preferable because it captures at least some of the value added. For example, a building contractor may offer to provide services "for cash" (i.e. without a receipt, and without VAT) to a homeowner, who usually cannot claim input VAT back. The homeowner will thus bear lower costs and the building contractor may be able to avoid other taxes (profit or payroll taxes).


title: Value-added tax

text: Another avenue of criticism of implementing a VAT is that the increased tax passed to the consumer will increase the ultimate price paid by the consumer. However, a study in Canada reveals that in fact when replacing a traditional sales tax with a VAT consumer prices including taxes actually fell, by –0.3%±0.49%.


title: Value-added tax

text: The incidence of VAT may not fall entirely on consumers as traders tend to absorb VAT so as to maintain volumes of sales. Conversely, not all cuts in VAT are passed on in lower prices. VAT consequently leads to a deadweight loss if cutting prices pushes a business below the margin of profitability. The effect can be seen when VAT is cut or abolished. When VAT on restaurant meals in Sweden was reduced from 25% to 12.5%, 11,000 additional jobs were created.


title: Value-added tax

text: VAT offers distinctive opportunities for evasion and fraud, especially through abuse of the credit and refund mechanism. VAT overclaim is a risk for the state due to fraudulent claims for input repayment by registered traders and carousel fraud. There is leads to a VAT gap which can be up to 34% (in the case of Romania).


title: Value-added tax

text: Because VAT is included in the price index to which state benefits such as pensions and welfare payments are linked, as well as public sector pay, some of the apparent revenue is churned i.e. taxpayers have to be given the money to pay the tax with, resulting in zero net revenue.


title: Value-added tax

text: Multiple VAT charges over the supply chain give rise to cashflow problems due to refund delays from the tax administration.


title: Value-added tax

text: Compliance costs for VAT are a heavy burden on business. In the UK, compliance costs for VAT have been estimated by Professor Cedric Sandford to be about 4% of the yield, though the figure is higher for smaller business.


title: Value-added tax

text: In many European jurisdictions the customer, seller and also the marketplace (as EU Directive) are responsible for the VAT number verification of the parties involved inside the transactions. In case of failure: the B2B national customer should pay back the VAT refund, in case of seller should pay a penalty and pay the VAT to the correct tax authority and request a refund to the wrong one and identify the correct rate for every EU state (OSS VAT from 2021), the marketplace is liable for every seller on the platform for unpaid VAT and must pay it to every EU state from 2021.


title: Value-added tax

text: Because exports are generally zero-rated (and VAT refunded or offset against other taxes), this is often where VAT fraud occurs. In Europe, the main source of problems is called carousel fraud.


title: Value-added tax

text: This kind of fraud originated in the 1970s in the Benelux countries. Today, VAT fraud is a major problem in the UK. There are also similar fraud possibilities inside a country. To avoid this, in some countries like Sweden, the major owner of a limited company is personally responsible for taxes.


title: Value-added tax

text: Under a sales tax system, only businesses selling to the end-user are required to collect tax and bear the accounting cost of collecting the tax. Under VAT, manufacturers and wholesale companies also incur accounting expenses to handle the additional paperwork required for collecting VAT, increasing overhead costs and prices.


title: Value-added tax

text: Many politicians and economists in the United States consider value-added taxation on US goods and VAT rebates for goods from other countries to be unfair practice. For example, the American Manufacturing Trade Action Coalition claims that any rebates or special taxes on imported goods should not be allowed by the rules of the World Trade Organisation. AMTAC claims that so-called "border tax disadvantage" is the greatest contributing factor to the $5.8 trillion US current account deficit for the decade of the 2000s, and estimated this disadvantage to US producers and service providers to be $518 billion in 2008 alone. Some US politicians, such as congressman Bill Pascrell, are advocating either changing WTO rules relating to VAT or rebating VAT charged on US exporters by passing the Border Tax Equity Act. A business tax rebate for exports is also proposed in the 2016 GOP policy paper for tax reform. The assertion that this "border adjustment" would be compatible with the rules of the WTO is controversial; it was alleged that the proposed tax would favour domestically produced goods as they would be taxed less than imports, to a degree varying across sectors. For example, the wage component of the cost of domestically produced goods would not be taxed.


title: Value-added tax

text: A 2021 study in the "American Economic Journal" found that value- added taxes are unlikely to distort trade flows.


title: Akron, Ohio

text: Akron () is the fifth-largest city in the U.S. state of Ohio and is the county seat of Summit County. It is located on the western edge of the Glaciated Allegheny Plateau, about south of downtown Cleveland. As of the 2020 Census, the city proper had a total population of 190,469, making it the 125th largest city in the United States. The Akron metropolitan area, covering Summit and Portage counties, had an estimated population of 703,505.


title: Akron, Ohio

text: The city was founded in 1825 by Simon Perkins and Paul Williams, along the Little Cuyahoga River at the summit of the developing Ohio and Erie Canal. The name is derived from the Ancient Greek word "ἄκρον : ákron" signifying a summit or high point. It was briefly renamed South Akron after Eliakim Crosby founded nearby North Akron in 1833, until both merged into an incorporated village in 1836. In the 1910s, Akron doubled in population, making it the nation's fastest-growing city.


title: Akron, Ohio

text: A long history of rubber and tire manufacturing, carried on today by The Goodyear Tire & Rubber Company, gave Akron the nickname "Rubber Capital of the World". It was once known as a center of airship development. Today, its economy includes manufacturing, education, healthcare, and biomedical research; leading corporations include Gojo Industries, FirstEnergy, Huntington Bank, and Charter Spectrum.


title: Akron, Ohio

text: Notable historic events in Akron include the passage of the Akron School Law of 1847, which created the K–12 system; the popularization of the church architectural Akron Plan, the foundation of Alcoholics Anonymous, the Akron Experiment into preventing goiters with iodized salt, the 1983 Supreme Court case "City of Akron v. Akron Center for Reproductive Health;" and portions of the 2014 Gay Games. A racially diverse city, it has seen noted racial relations speeches by Sojourner Truth in 1851—the Ain't I A Woman? speech; W. E. B. Du Bois in 1920; and President Bill Clinton in 1997. In 1914, Marcus Garvey founded the Universal Negro Improvement Association in Akron. Episodes of major civil unrest in Akron have included the riot of 1900, rubber strike of 1936, and the Wooster Avenue riots of 1968.


title: Akron, Ohio

text: In 1811, Paul Williams settled near the corner of what is now Buchtel Avenue and Broadway. He suggested to General Simon Perkins, who was surveyor of the Connecticut Land Company's Connecticut Western Reserve, that they found a town at the summit of the developing Ohio and Erie Canal. The name is adapted from the Greek word (), meaning or . It was laid out in December 1825, where the south part of the downtown Akron neighborhood sits today. Irish laborers working on the Ohio Canal built about 100 cabins nearby.


title: Akron, Ohio

text: After Eliakim Crosby founded "North Akron" (also known as Cascade) in the northern portion of what is now downtown Akron in 1833, "South" was added to Akron's name until about three years later, when the two were merged and became an incorporated village in 1836. In 1840, Summit County formed from portions of Portage, Medina, and Stark Counties. Akron replaced Cuyahoga Falls as its county seat a year later and opened a canal connecting to Beaver, Pennsylvania, helping give birth to the stoneware, sewer pipe, fishing tackle, and farming equipment industries. In 1844, abolitionist John Brown moved into the John Brown House across the street from business partner Colonel Simon Perkins, who lived in the Perkins Stone Mansion. The Akron School Law of 1847 founded the city's public schools and created the K–12 grade school system, which currently is used in every U.S. state. The city's first school is now a museum on Broadway Street near the corner of Exchange.


title: Akron, Ohio

text: When the Ohio Women's Rights Convention came to Akron in 1851, Sojourner Truth extemporaneously delivered her speech named "Ain't I A Woman?", at the Universalist Old Stone Church. In 1870, a local businessman associated with the church, John R. Buchtel, founded Buchtel College, which became the University of Akron in 1913.


title: Akron, Ohio

text: Ferdinand Schumacher bought a mill in 1856, and the following decade mass-produced oat bars for the Union Army during the American Civil War; these continued to sell well after the war. Akron incorporated as a city in 1865. Philanthropist Lewis Miller, Walter Blythe, and architect Jacob Snyder designed the widely used Akron Plan, debuting it on Akron's First Methodist Episcopal Church in 1872. Numerous Congregational, Baptist, and Presbyterian churches built between the 1870s and World War I use it. In 1883, a local journalist began the modern toy industry by founding the Akron Toy Company. A year later, the first popular toy was mass-produced clay marbles made by Samuel C. Dyke at his shop where Lock 3 Park is now. Other popular inventions include rubber balloons, ducks, dolls, balls, baby buggy bumpers, and little brown jugs. In 1895, the first long-distance electric railway, the Akron, Bedford and Cleveland Railroad, began service. On August 25, 1889, the Boston Daily Globe referred to Akron with the nickname "Summit City". To help local police, the city deployed the first police car in the U.S. that ran on electricity.


title: Akron, Ohio

text: The Riot of 1900 saw assaults on city officials, two deaths, and the destruction by fire of Columbia Hall and the Downtown Fire Station (now the City Building since 1925). The American trucking industry was birthed through Akron's Rubber Capital of the World era when the four major tire companies Goodrich Corporation (1869), Goodyear Tire and Rubber Company (1898), Firestone Tire and Rubber Company (1900), and General Tire (1915) were headquartered in the city. The numerous jobs the rubber factories provided for deaf people led to Akron being nicknamed the "Crossroads of the Deaf". On Easter Sunday 1913, 9.55 inches of rain fell, causing floods that killed five people and destroyed the Ohio and Erie Canal system. From 1916 to 1920, 10,000 schoolgirls took part in the successful Akron Experiment, testing iodized salt to prevent goiter in what was known as the "Goiter Belt". The Akron & National Marble Tournament was created in 1923 by Roy W. Howard, being owned by the Akron District Marbles Tournament and the Akron Beacon Journal sometime before it ended permanently in the 1960s.


title: Akron, Ohio

text: Rubber companies responded to housing crunches by building affordable housing for workers. Goodyear's president, F.A. Seiberling, built the Goodyear Heights neighborhood for employees. Likewise, Harvey Firestone built the Firestone Park neighborhood for his employees. During the 1910–1920 decade, Akron became a boomtown, being America's fastest growing city with a 201.8% increase in population. Of the 208,000 citizens, almost one-third were immigrants (also Clark Gable) and their children from places including Europe and West Virginia. In 1929 and 1931 Goodyear's subsidiary Goodyear-Zeppelin Company manufactured two airships for the United States Navy, USS "Akron" (ZRS-4) and USS "Macon" (ZRS-5). Goodyear built a number of blimps for the Navy during WWII and later for advertising purposes. Akron again grew when Kenmore was annexed by voter approval on November 6, 1928. Found hiding under a bed at one of his hideouts in the city, notorious bank robber Charles Arthur "Pretty Boy" Floyd was arrested under the name "Frank Mitchell" in March 1930. Goodyear became America's top tire manufacturer after merging with The Kelly-Springfield Tire Company in 1935. Lasting five weeks and consisting of roughly 5,000 strikers including union sympathizers from other factories and neighboring states, the Akron Rubber Strike of 1936 successfully used "sit-down" tactic being organized by the United Rubber Workers. During the 1950s–60s Akron surged as use of the automobile did. The historic Rubber Bowl was used by the National Guard of the United States as a base during the racial Wooster Avenue Riots of 1968. Like many other industries of the Rust Belt, both the tire and rubber industries experienced major decline. By the early 1990s, Goodyear was the last major tire manufacturer based in Akron.


title: Akron, Ohio

text: Despite the number of rubber workers decreasing by roughly half from 2000 to 2007, Akron's research in polymers gained an international reputation. It now centers the Polymer Valley which consist of 400 polymer-related companies, of which 94 were located in the city itself. Research is focused at the University of Akron, which is home to the Goodyear Polymer Center and the National Polymer Innovation Center, and the College of Polymer Science and Polymer Engineering. Because of its contributions to the Information Age, "Newsweek" listed Akron fifth of ten high-tech havens in 2001. In 2008 "City of Invention" was added to the seal when the All-America City Award was received for the third time. Some events of the 2014 Gay Games used the city as a venue. In 2013, The Goodyear Tire & Rubber Company opened its new global headquarters on Innovation Way, further cementing the company's relationship with the city .


title: Akron, Ohio

text: The city also continues to deal with the effects of air and soil pollution from its industrial past. In the southwestern part of the city, soil was contaminated and noxious PCB-laden fumes were put into the air by an electrical transformer deconstruction operation that existed from the 1930s to the 1960s. Cleanup of the site, designated as a Superfund site by the Environmental Protection Agency, began in 1987 and concluded in 2000. The area remains restricted with regular reviews of the site and its underground aquifer.


title: Akron, Ohio

text: City founder Simon Perkins negotiated a treaty with Native Americans to establish a mail route from the Connecticut Western Reserve to Detroit in 1807, an early example of historic humanitarian affairs in Akron. Aside from being part of the Underground Railroad, when active, John Brown was a resident, today having two landmarks (John Brown House) and the (John Brown Monument) dedicated to him. During the 1851 Women's Rights Convention, Sojourner Truth delivered her speech entitled "Ain't I A Woman?". In 1905, a statue of an Indian named Unk was erected on Portage Path, which was part of the effective western boundary of the White and Native American lands from 1785 to 1805. The Summit County chapter of the Ku Klux Klan reported having 50,000 members, making it the largest local chapter in the country during the 20th century. At some point the sheriff, county officials, mayor of Akron, judges, county commissioners, and most members of Akron's school board were members. The Klan's influence in the city's politics eventually ended after Wendell Willkie arrived and challenged them. Race took part in two of Akron's major riots, the Riot of 1900 and the Wooster Ave. Riots of 1968. Others giving speeches on race in the city include W. E. B. Du Bois (1920) and President Bill Clinton (1997). In 1971, Alpha Phi Alpha Homes Inc. was founded in Akron by the Eta Tau Lambda chapter, with James R. Williams as chairman. The centerpiece, Henry Arthur Callis Tower, is located in the Channelwood Village area of the city. In 2008, 91-year-old Akron native, Addie Polk, became the poster child of the financial crisis of 2007–2010, after shooting herself.


title: Akron, Ohio

text: Akron is located in the Great Lakes region about south of Lake Erie, on the Glaciated Allegheny Plateau. It is bordered by Cuyahoga Falls on the north and Barberton in the southwest. It is the center of the Akron Metropolitan Statistical Area which covers Summit and Portage Counties, and the larger Cleveland-Akron-Elyria Combined Statistical Area. Located on the western end of the plateau, the topography of Akron includes rolling hills and varied terrain. The Ohio and Erie Canal passes through the city, separating the east from west. Akron has the only biogas facility in the United States that produces methane through the decomposition process of sludge to create electricity.


title: Akron, Ohio

text: According to the 2010 census, the city has a total area of , of which (or 99.45%) is land and (or 0.55%) is water.


title: Akron, Ohio

text: Akron has a humid continental climate (Köppen "Dfa"), typical of the Midwest, with four distinct seasons, and lies in USDA hardiness zone 6b, degrading to zone 6a in the outlying suburbs. Winters are cold and dry but typically bring a mix of rain, sleet, and snow with occasional heavy snowfall and icing. January is the coldest month with an average mean temperature of , with temperatures on average dropping to or below on 3.8 days and staying at or below freezing on 41 days per year. Snowfall averages per season, significantly less than the snowbelt areas closer to Lake Erie. The snowiest month on record was in January 1978, while winter snowfall amounts have ranged from in 1977–78 to in 1949–50. Springs generally see a transition to fewer weather systems that produce heavier rainfall. Summers are typically very warm and humid with temperatures at or above on 8.0 days per year on average; the annual count has been as high as 36 days in 1931, while the most recent year to not reach that mark is 2004. July is the warmest month with an average mean temperature of . Autumn is relatively dry with many clear warm days and cool nights.


title: Akron, Ohio

text: The all-time record high temperature in Akron of was established on August 6, 1918, and the all-time record low temperature of was set on January 19, 1994. The most precipitation to fall on one calendar day was on July 7, 1943, when 5.96" of rain was measured. The first and last freezes of the season on average fall on October 18 and April 26, respectively, allowing a growing season of 174 days. The normal annual mean temperature is . Normal yearly precipitation based on the 30-year average from 1991 to 2020 is , falling on an average 158 days. Monthly precipitation has ranged from in July 2003 to in September 1960, while for annual precipitation the historical range is in 1990 to in 1963.


title: Akron, Ohio

text: Akron consists of 21 neighborhoods, with an additional three that are unincorporated but recognized within the city. The neighborhoods of the city differ in design largely because of expansions such as town merging, annexation, housing construction in various time periods, and rubber era.


title: Akron, Ohio

text: Maple Valley covers the west end of Copley Road, before reaching I-77. Along this strip are several businesses using the name, as well as the Maple Valley Branch of the Akron-Summit County Public Library. Spicertown falls under the blanket of University Park, this term is used frequently to describe the student-centered retail and residential area around East Exchange and Spicer streets, near the University of Akron. West Hill is roughly bounded by West Market Street on the north, West Exchange Street on the south, Downtown on the East, and Rhodes Avenue on the west. It features many stately older homes, particularly in the recently recognized Oakdale Historic District.


title: Akron, Ohio

text: Akron's suburbs include Barberton, Cuyahoga Falls, Fairlawn, Green, Hudson, Mogadore, Montrose-Ghent, Munroe Falls, Norton, Silver Lake, Stow, and Tallmadge. Akron formed Joint Economic Development Districts with Springfield, Coventry, Copley, and Bath (in conjunction with Fairlawn) townships.


title: Akron, Ohio

text: According to census data from 2010 to 2014, the median income for a household in the city was $34,139. The per capita income for the city was $17,596. About 26.7% of persons were in poverty.


title: Akron, Ohio

text: Akron has a metropolitan population of 703,203 (U.S. Census Bureau, 2010). Akron is also part of the larger Cleveland-Akron-Canton Combined Statistical Area, which was the 15th largest in the country with a population of over 3.5 million according to the 2010 Census.


title: Akron, Ohio

text: As of the census of 2010, there were 199,110 people, 83,712 households, and 47,084 families residing in the city. The population density was . There were 96,288 housing units at an average density of . The racial makeup of the city was 62.2% White, 31.5% African American, 0.2% Native American, 2.1% Asian, 0.8% from other races, and 3.2% from two or more races. Hispanic or Latino of any race were 2.1% of the population. Non-Hispanic Whites were 61.2% of the population, down from 81.0% in 1970.


title: Akron, Ohio

text: There were 83,712 households, of which 28.8% had children under age 18 living with them, 31.3% were married couples living together, 19.5% had a female householder with no husband present, 5.5% had a male householder with no wife present, and 43.8% were non-families. 34.8% of all households were made up of individuals, and 10.8% had someone living alone who was 65 years of age or older. The average household size was 2.31 and the average family size was 2.98.


title: Akron, Ohio

text: The median age in the city was 35.7 years. 22.9% of residents were under age 18; 12.4% were between 18 and 24; 25.9% were from 25 to 44; 25.9% were from 45 to 64; and 12.6% were 65 or older. The gender makeup of the city was 48.3% male and 51.7% female.


title: Akron, Ohio

text: As of the census of 2020 there were 190,469 people and 84,940 households. This all leads to a population density of 3,181.30/sq mi. The average number of people living in a household was 2.27 persons per households. The racial makeup of the city was 59.9% White, 30.3% Black or African American, .2% Native American, 4.6% Asian, with 5% coming from other races. 3.1% is of Hispanic origin.


title: Akron, Ohio

text: The mean age in the city was 35.7 years old. 6% of the population is under the age of 5, 21.2% are under the age of 18, 14.8% are over the age of 65. 52.1% of the population is female.


title: Akron, Ohio

text: Although Akron is in northern Ohio, where the Inland North dialect is expected, its settlement history puts it in the North Midland dialect area. Some localisms that have developed include "devilstrip", which refers to the grass strip between a sidewalk and street.


title: Akron, Ohio

text: In 1999, Akron ranked as the 94th-most-dangerous city (and the 229th safest) on the 7th Morgan Quitno list. Preliminary Ohio crime statistics show aggravated assaults increased by 45% during 2007.


title: Akron, Ohio

text: Historically, organized crime operated in the city with the presence of the "Black Hand" led by Rosario Borgio, once headquartered on the city's north side in the first decade of the 20th century and the "Walker-Mitchell" mob, of which Pretty Boy Floyd was a member. Akron has experienced several riots in its history, including the Riot of 1900 and the Wooster Avenue Riots of 1968.


title: Akron, Ohio

text: The distribution of methamphetamine ("meth") in Akron greatly contributed to Summit County becoming known as the "Meth Capital of Ohio" in the early 2000s. The county ranked third in the nation in the number of registered meth sites. During the 1990s, motorcycle gang the Hells Angels sold the drug from bars frequented by members. Between January 2004 and August 2009, the city had significantly more registered sites than any other city in the state. Authorities believed a disruption of a major Mexican meth operation contributed to the increase of it being made locally. In 2007, the Akron Police Department (APD) received a grant to help continue its work with other agencies and jurisdictions to support them in ridding the city of meth labs. The APD coordinates with the Summit County Drug Unit and the Drug Enforcement Administration, forming the Clandestine Methamphetamine Laboratory Response Team.


title: Akron, Ohio

text: Many industries in the United States either began or were influenced by the city. After beginning the tire and rubber industry during the 20th century with the founding of Goodrich, Firestone, General Tire, and also the Goodyear merger with The Kelly-Springfield Tire Company, Akron gained the status of "Rubber Capital of the World". Akron has won economic awards such as for City Livability and All-American City, and deemed a high tech haven greatly contributing to the Information Age. Current Fortune 500 companies headquartered in the city include the Goodyear Tire and Rubber Company and FirstEnergy. In addition, the city is the headquarters to a number of other notable companies such as GOJO, Advanced Elastomer Systems, Babcock & Wilcox, Myers Industries, Acme Fresh Market and Sterling Jewelers. Goodyear, America's biggest tire manufacturer and the fifth-largest private employer in Summit County, recently built a new world headquarters in the city. The project, Akron Riverwalk, will feature a large retail and commercial development area. The project began in 2007, but was put on hold because of the financial crisis of 2007–2010, and is now continuing. Bridgestone built a new technical center with state-of-the-art R&D labs, and moved its product development operations to the new facility in early 2012. The Eastern Ohio Division of KeyBank, which has six branches in the city, built a regional headquarters downtown. The city has a free WiFi corridor centered in downtown. Neighborhoods in range include Goodyear Heights, East Akron, North Hill, Firestone Park, Kenmore, and West Akron.


title: Akron, Ohio

text: Northeast Ohio's Polymer Valley is centered in Akron. The area holds forty-five percent of the state's polymer industries, with the oldest dating to the 19th century. During the 1980s and 1990s, an influx of new polymer companies came to the region. In 2001, more than 400 companies manufactured polymer-based materials in the region. Many University of Akron scientists became world-renowned for their research done at the Goodyear Polymer Center. The first College of Polymer Science and Polymer Engineering was begun by the university. In 2010, the National Polymer Innovation Center opened on campus.


title: Akron, Ohio

text: Akron has designated an area called the Biomedical Corridor, aimed at luring health-related ventures to the region. It encompasses of private and publicly owned land, bounded by Akron General on the west and Akron City on the east, and also includes Akron Children's near the district's center with the former Saint Thomas Hospital to the north of its northern boundaries. Since its start in 2006, the corridor added the headquarters of companies such as Akron Polymer Systems.


title: Akron, Ohio

text: Akron's adult hospitals are owned by two health systems, Summa Health System and Akron General Health System. Summa Health System operates Akron City Hospital and the former St. Thomas Hospital, which in 2008 were recognized for the 11th consecutive year as one of "America's Best Hospitals" by U.S. News & World Report. Summa is recognized as having one of the best orthopaedics programs in the nation with a ranking of 28th. Akron General Health in affiliation with the Cleveland Clinic operates Akron General Medical Center, which in 2009, was recognized as one of "America's Best Hospitals" by U.S. News & World Report. Akron Children's Hospital is an independent entity that specializes in pediatric care and burn care. In 1974, Dr. Howard Igel and Dr. Aaron Freeman successfully grew human skin in a lab to treat burn victims, making Akron Children's Hospital the first hospital in the world to achieve such a feat. Akron City and Akron General hospitals are designated Level I Trauma Centers.


title: Akron, Ohio

text: According to the city's 2020 Comprehensive Annual Financial Report, the principal employers in the city are:


title: Akron, Ohio

text: Akron is home to E. J. Thomas Hall, one of three Akron performance halls. Regular acts include the Akron Symphony Orchestra, Tuesday Musical Club, and Children's Concert Society. World-class performances events include Broadway musicals, ballets, comedies, lectures, entertainers, attracting 400,000 visitors annually. The hall seats 2,955, divided among three tiers. To maintain top-notch acoustic sound, the counter-weighted ceiling is adjustable, altering the physical dimensions of the hall. Located downtown is the Akron Civic Theatre, which opened in 1929 as the Loew's Theater. This atmospheric-style theater was designed by John Eberson and built by Marcus Loew. The theater contains many Moorish features including arches and decorative tiles. It features elaborate wood carvings, alabaster statuary, and European antiques. The theater seats 5,000. Behind it on the canal is the Lock 3 Park amphitheater, which annually host the First Night in Akron. The Akron Art Museum also downtown, features art produced since 1850 along with national and international exhibitions. It opened in 1922 as the Akron Art Institute, in the basement of the Akron Public Library. It moved to its current location at the renovated 1899 post office building in 1981. In 2007, the museum more than tripled in size with the addition of the John S. and James L. Knight Building, which received the 2005 American Architecture Award from the Chicago Athenaeum while still under construction.


title: Akron, Ohio

text: Built between 1912 and 1915 for Frank Seiberling, Stan Hywet Hall and Gardens is the seventh-largest historic house in the United States.


title: Akron, Ohio

text: Located within the Sand Run Metro Park, the F.A. Seiberling Nature Realm features a visitor center, hiking trails, three ponds, gardens, and an array of special programs throughout the year. The Akron Police Museum displays mementos including items from Pretty Boy Floyd, whose gang frequented the city. The city is home to several other galleries and museums include American Marble and Toy Museum and the Don Drumm Studios & Gallery.


title: Akron, Ohio

text: Originally a canal town, the city is divided into two parts by the Ohio and Erie Canal, with downtown being centered on it. Along the locks, the city has a path paved with rubber.


title: Akron, Ohio

text: Akron was awarded with the City Livability Award in 2008 for its efforts to co-purpose new school buildings as community learning centers. In 2009, the National Arbor Day Foundation designated Akron as a Tree City USA for the 14th time.


title: Akron, Ohio

text: Many of the city's government and civic buildings, including City Hall, and the Summit County Courthouse are from pre-World War Two, but the Akron-Summit County Public Library, and John S. Knight Center are considerably newer. The library opened in 1969 but reopened as a greatly expanded facility in 2004. The Knight Center opened in 1994.


title: Akron, Ohio

text: The First Methodist Episcopal Church first used the Akron Plan in 1872, the plan later gained popularity, being used in many Congregationalists, Baptists, and Presbyterians.


title: Akron, Ohio

text: The city is home to a historic 1920s atmospheric movie palace, the Akron Civic Theatre. One of the building's features is a starry sky with clouds that drift over it when the lights are dimmed.


title: Akron, Ohio

text: Completed in 1931, Akron's tallest building, the Huntington Tower, features the art deco style and is covered in glazed architectural terra-cotta. Standing , it is built on top of the Hamilton Building, completed in 1900 in the neo-gothic style. Near the turn of the millennium the tower was given a $2.5 million facelift, including a $1.8 million restoration of the tower's terra-cotta, brick and limestone. The top of the building has a television broadcast tower, formerly used by WAKR-TV (now WVPX-TV) and WAKR-AM. The antenna reaches .Located on the University of Akron campus, the Goodyear Polymer Center, is glass twin towers connected by walkways. The university also uses the former Quaker Oats factory as a dormitory; for many years it had been a shopping center called Quaker Square. There had also been a hotel there.


title: Akron, Ohio

text: The Akron Art Museum commissioned Coop Himmelblau to design an expansion in 2007. The new building connects to the old building and is divided into three parts known as the "Crystal", the "Gallery Box" and the "Roof Cloud".


title: Akron, Ohio

text: The contrasting neighborhoods of Goodyear Heights and Firestone Park were built during the rubber industry to house workers and their families. They are both communities filled with houses based on mail-order plans.


title: Akron, Ohio

text: There are numerous attractions and points of interest in the Akron area. Opened in 1922, the Akron Art Museum has a 20,000-square-foot building and a collection of art produced since 1850. Stan Hywet Hall and Gardens is the estate of F.A. Seiberling, founder of Goodyear Tire and Rubber Company. The manor hosts various attractions and public events throughout the year. In the heart of downtown, the Akron Civic Theatre has provided the community with a venue for entertainment and live performances for over eighty years. Lock 3, a historic Ohio and Erie Canalway landmark, has been transformed into an entertainment amphitheater that hosts festivals, concerts, and community events throughout the year. The Akron Zoo is located just outside downtown, and was an initial gift of property from the city's founding family. In Highland Square, Akron hosts a convergence of art, music, and community annually called Art in the Square, a festival featuring local artists and musicians.


title: Akron, Ohio

text: National events hosted annually in Akron cover a wide variety of hobbies and interests. The PGA World Golf Championships travel to Akron each year for the Bridgestone Invitational at Firestone Country Club. The All-American Soap Box Derby is a youth racing program which has its World Championship finals at Derby Downs. In mid July, the National Hamburger Festival consists of different vendors serving original recipe hamburgers and has a Miss Hamburger contest. Lock 3 Park annually hosts the First Night Akron celebration on New Year's Eve. The park also annually hosts the Italian Festival and the "Rib, White & Blue" food festival in July. Founders Day is celebrated annually because of the founding of Alcoholics Anonymous within the city. The Dr. Robert Smith House is located in Akron.


title: Akron, Ohio

text: Several residents of Akron have played a role in defining American cuisine. Ferdinand Schumacher created the first American oatmeal and is a pioneer of breakfast cereal. He also founded the Empire Barley Mill and German Mills American Oatmeal Company, which would later merge several times with other companies, with the result being the Quaker Oats Company. The Menches Brothers, are the disputed inventors of the waffle ice cream cone, caramel corn, and hamburger. Strickland's Frozen Custard is located in Akron.


title: Akron, Ohio

text: The Akron Marathon is an annual marathon in the city which offers a team relay and shorter races throughout the summer and fall.


title: Akron, Ohio

text: Akron had 2 teams who won the National Basketball League in the '30s and '40s, before the foundation of the NBA.


title: Akron, Ohio

text: Akron hosted some of the events of the 2014 Gay Games including the marathon, the men's and women's golf tournaments at Firestone Country Club, and softball at Firestone Stadium.


title: Akron, Ohio

text: The All-American Soap Box Derby takes place each year at the Derby Downs since 1936. The Firestone Country Club, which annually hosts the WGC-Bridgestone Invitational, has in the past hosted the PGA Championship, American Golf Classic, and Rubber City Open Invitational. On January 7, 1938, Akron became the birthplace of women's professional Mud Wrestling, in a match including Professional Wrestling, WWE, and Wrestling Observer Hall of Famer, Mildred Burke. The Professional Bowlers Association started in the city during 1958. LeBron James' King for Kids bike-a-thon feature James riding with kids through the city each June. In November, the city hosts the annual Home Run for the Homeless 4-mile run.


title: Akron, Ohio

text: The University of Akron's Akron Zips compete in the NCAA and the Mid-American Conference (MAC) in a variety of sports at the Division I level. The men's basketball team appeared in the NCAA Tournament in 1986, 2009, 2011, and 2013. In 2009, the Zips men's soccer team completed the regular-season undefeated, then won the NCAA Men's Division I Soccer Championship in 2010. Zippy, one of the eight female NCAA mascots, won the National Mascot of the Year contest in 2007.


title: Akron, Ohio

text: Former teams of Akron include the Akron Professionals of the National Football League who played in the historic Rubber Bowl and won the 1920 championship; the Goodyear Silents, a deaf semi-professional football; the Akron Black Tyrites of the Negro National League; the Akron Americans of the International Hockey League; the Akron Lightning of the International Basketball League; the Akron Summit Assault of the USL Premier Development League, the fourth tier of the American Soccer Pyramid; the Akron Wingfoots of the National Basketball League, who won the first NBL Championship and the International Cup three times; the Akron Firestone Non-Skids, also of the National Basketball League, who won the title consecutively, in 1939 and 1940; and the Akron Vulcans, a professional football team that played in the Continental Football League for part of the 1967 season.


title: Akron, Ohio

text: Major parks in Akron include Lock 3, Firestone, Goodyear Heights, the F.A. Seiberling Nature Realm (or Naturealm), and part of the Cuyahoga Valley National Park. Several of the parks are along the locks of the canal. Lock 3 Park in downtown Akron is the city's hub for entertainment. It is commonly used as an outdoor amphitheater hosting live musical entertainment, festivals and special events year-round. The park was created in the early 21st century to provide green space within the city. The Ohio and Erie Canal can still be seen flowing behind the stage where there was once a boat yard and dry dock. Later, a pottery factory stood there until the parking deck of the M. O'Neil Co. department store was built in the current location. More than 65,000 guests use the park for recreation annually. Lock 3 Live holds concerts for almost every musical genre, including alternative, R&B, reggae, gospel, country, pop, jazz and classic rock. Some festivals the park hosts throughout the year include Soap Box Derby opening ceremonies, firefighter competitions, charity events, tournaments and animal events. From November through February, Lock 3 Park is transformed into an outdoor ice-skating rink. Adjacent to the Derby Downs race hill is a 19,000-square-foot (1,800 m2) outdoor skatepark. The park features concrete ramps, including two bowls going as deep as 7 feet (2.1 m), a snake run, two hips, a stair set with handrail, many smaller quarter pipes and a variety of grind boxes. Positioned just a few feet from the Akron Skatepark is a Pro BMX course where organized races are often held in the warmer months. Akron residents can enjoy various ice skating activities year round at the historic Akron Ice House.


title: Akron, Ohio

text: The Ohio and Erie Canal Towpath Trail is a regional bike and hike trail that follows the canal. A bridge was completed in 2008, crossing Route 59/The Innerbelt, which connects the towpath proper with bike routes painted onto streets downtown, thus completing another step toward the connection of Cleveland and East Liverpool with a hike and bike trail. The State of Ohio plans to reconstruct the trail which once ran completely through Ohio, to New Philadelphia from Cleveland. The trail features a floating observation deck section over Summit Lake. It is a popular tourist attraction, as it attracts over 2 million visits annually. The Portage Hike and Bike Trail, when fully complete, will connect with the hike and bike trails in the county.


title: Akron, Ohio

text: The mayor of Akron is elected in a citywide vote. In 2016, the city elected its 62nd mayor. The city is divided into 10 wards, each elect a member to the Akron City Council, while an additional 3 are elected at large. The mayor's cabinet currently consist of directors and deputy directors of administration, communications, community relations, economic development, intergovernmental relations, labor relations, law, planning & urban development, planning director – deputy, public safety, and public service. The city adopted a new charter of the commissioner manager type in 1920, but reverted to its old form in 1924.


title: Akron, Ohio

text: The current mayor is Dan Horrigan. Longtime Akron Mayor Don Plusquellic announced on May 8, 2015, that he would resign on May 31 after 28 years as mayor and 41 years of service to the city. On May 31, 2015, Garry Moneypenny was sworn in as the new mayor at East High School. Moneypenny was former Chief Deputy and Assistant Sheriff of the Summit County Sheriff's Department, former Springfield Township Police Department Chief of Police, and former Akron City Council President.


title: Akron, Ohio

text: On June 5, 2015, less than a week after he took office, Mayor Moneypenny announced he would not run for a full term because of inappropriate contact with a city employee. Three days later, Moneypenny announced he would resign effective at midnight on June 10. Council president Jeff Fusco assumed the duties of mayor on June 11, 2015. Fusco ran for and was elected to an at-large council seat, rather than seeking a full term as mayor. Fusco also announced he would temporarily step down as Chair of the Summit County Democratic Party, because the city charter calls for the Mayor to devote his full attention to the city.


title: Akron, Ohio

text: As of July 1, 2015, three Democrats and one Republican were running for Mayor of Akron. The Democratic candidates were Summit County Clerk of Courts and former ward 4 Councilman Dan Horrigan; at-large Councilman Mike Williams; and Summit County Councilman Frank Communale. Horrigan won the Democratic primary, held on September 8. In the general election, he faced the lone GOP candidate, Eddie Sipplen, an African-American criminal defense attorney. On November 3, 2015, Horrigan was elected as the 62nd mayor of the city of Akron. He took office on January 1, 2016. On November 5, 2019, Mayor Horrigan was re-elected to a second term.


title: Akron, Ohio

text: Preschool, elementary, and secondary education is mainly provided by the Akron City School District. Planning of the district began in 1840, when Ansel Miller suggested to build free public schools for all children in the city, paid for by property taxes. After enduring much opposition by citizens, in 1843 Miller joined with Rev. Isaac Jennings. Three years later, Jennings became the chairman of a committee of citizens who discussed how to improve the school system. On November 21, 1846, their plan was approved unanimously by the citizens. The Ohio Legislature adopted the plan, called "An act for the support and better regulation of the Common Schools of the Town of Akron" on February 8, 1847. Akron's first public schools were established in the fall of 1847 and were led by Mortimer Leggett. The first annual report showed that it cost less than $2 a year to educate a child. In 1857 the cost of running the schools for a year was $4,200. The primary schools were taught by young women, which the Akron Board of Education justified because they could be paid less and were under the supervision of a male superintendent. From 1877 to 1952, Akron graduated students semi-annually instead of annually. 9% of the city's school-aged population were born in other countries in 1888. In the 1920s, an Americanization program was designed to help the many Akron students who were first-generation Americans. Classes were in the rubber companies and some of the schools. A "continuation school" began for working boys and girls who were required by law to have at least four hours of schooling a week. In 1924, Akron's platoon schools attracted visitors from all over the country. Being a stronghold for the Ku Klux Klan during the decade, the majority of school board and government officials were members. Their influence ended with the arrival of Wendell Willkie. During the city's 1950s boom town phase, Akron schools grew eight times faster than the city's population. In 1967, Kenmore launched the Air Force JROTC. In 1971, Jennings piloted the middle school model, which moved ninth-graders to the senior high school. In 1984, all-day kindergarten was piloted at Seiberling, Rankin and Hatton schools, and Ellet, East and Garfield high schools piloted the in-school suspension program. The district received an A+ evaluation from the state in 1987.


title: Akron, Ohio

text: As part of his charitable foundation's initiatives in the city, LeBron James founded the I Promise School, which serves underprivillaged kids.


title: Akron, Ohio

text: The city is home to the University of Akron. Originally Buchtel College, the school is home of the Goodyear Polymer Center and the National Polymer Innovation Center.


title: Akron, Ohio

text: All Akron Public Schools are currently going through a 15-year, $800 million rebuilding process. In recent times the city's schools have been moved from "Academic Watch" to "Continuous Improvement" by the Ohio Department of Education. Akron also has many private, parochial and charter schools.


title: Akron, Ohio

text: Akron is served in print by the daily "Akron Beacon Journal," formerly the flagship newspaper of the Knight Newspapers chain; the weekly "The Akron Reporter"; and the weekly "West Side Leader" newspapers and the monthly magazine "Akron Life". "The Buchtelite" newspaper is published by the University of Akron.


title: Akron, Ohio

text: Akron is part of the Cleveland-Akron-Canton TV market, the 18th largest market in the U.S. Within the market, WEAO (PBS), WVPX (ION), and WBNX-TV (independent) are licensed to Akron. However, while WEAO serves the city of Akron specifically, WBNX and WVPX identify themselves as "Akron/Cleveland", serving the entire market. Akron has no native news broadcast, having lost its only news station when the former WAKC became WVPX in 1996. WVPX and Cleveland's WKYC later provided a joint news program, which was cancelled in 2005.


title: Akron, Ohio

text: Though it is part of a combined TV market with Cleveland, Akron is its own radio market, and served by WZIP 88.1 (Top 40 – University of Akron), WSTB 88.9 (Alternative), WAPS 91.3 (AAA), WKJA 91.9 (religious), WQMX 94.9 (Country), WONE 97.5 (Classic rock), WKDD 98.1 (Contemporary Hits), WNIR-FM 100.1 (News/talk), WHLO 640 (News/talk), WCUE 1150 (religious), and WAKR 1590/93.5 (Soft AC/Full service).


title: Akron, Ohio

text: WKSU 89.7 - the NPR affiliate for all of Northeast Ohio - is considered part of both the Cleveland and Akron radio markets.


title: Akron, Ohio

text: Akron has served as the setting for several major studio and independent films. Inducted into the National Film Registry, "Dance, Girl, Dance" (1940), tells the story of two dancers from Akron who go to New York City. "My Name is Bill W." (1989) tells the true story of Bill Wilson who co-founded Alcoholics Anonymous, which held its first meetings at the Stan Hywet Hall and Gardens and has over two million members today. The program's connection to the Saint Thomas Hospital is alluded to in an episode of the television series "Prison Break" (2005), where Michael Scofield talks to Sara Tancredi on the phone while there. The Akron Armory is used as a venue for a female wrestling team in "...All the Marbles" (1981). "More than a Game" (2009) documents National Basketball Association player LeBron James and his St. Vincent – St. Mary High School high school basketball team's journey. In Drake's music video to "Forever" (2009) off the "More than a Game" soundtrack (2009), the iconic Goodyear's logo on top the company's theater is shown. The city has been frequently portrayed in media, from "Hell on Earth" in the television series "I'm In Hell" (2007), to the whereabouts of a holy woman in "The Virgin of Akron, Ohio" (2007). Henry Spivey of "My Own Worst Enemy" (2008), travels to Akron through the series many times. George Costanza in an episode of "Seinfeld" (1989), flies to the city. "M.Y.O.B." (2008) is centered on an Akron runaway girl named Riley Veatch. Jake Foley of "Jake 2.0" (2003), Pickles family of the "Rugrats" (1991), and J.Reid of "In Too Deep" (1999), and Avery Barkley of Nashville (2016) are also from the city. Akron was also in the spotlight on the television show Criminal Minds "Compromising Positions" (2010) Season 6, Episode 4. The 2015 film "Room" is set in Akron, filmed in Toronto with staging to signify Akron.


title: Akron, Ohio

text: The primary terminal that airline passengers traveling to or from Akron use is the Akron-Canton Regional Airport, serving nearly 2 million passengers a year. The Akron-Canton Airport is a commercial Class C airport located in the city of Green, roughly southeast of Akron operated jointly by Stark and Summit counties. It serves as an alternative for travelers to or from the Cleveland area as well. Akron Executive Airport is a general aviation airport located in and owned by the City of Akron that serves private planes. It first opened in 1929 and has operated in several different capacities since then. The airport had commercial scheduled airline service until the 1950s and it is now used for both cargo and private planes.


title: Akron, Ohio

text: It is home of the Lockheed Martin Airdock, where the Goodyear airships, dirigibles, and blimps were originally stored and maintained. The Goodyear blimps are now housed outside of Akron in a facility on the shores of Wingfoot Lake in nearby Suffield Township.


title: Akron, Ohio

text: Akron Northside Station is a train station at 27 Ridge Street along the Cuyahoga Valley Scenic Railroad.


title: Akron, Ohio

text: Because of the city's large rubber industry, Akron was once served by a variety of railroads that competed for the city's freight and passenger business. The largest were the Baltimore and Ohio Railroad, Erie Railroad, and the Pennsylvania Railroad. Smaller regional railroads included the Akron, Canton, and Youngstown Railroad, Northern Ohio Railway, and the Akron Barberton Belt Railroad. Today, the city is served by CSX Corporation, the Wheeling & Lake Erie Railroad, and their subsidiary Akron-Barberton-Cluster, which operate out of the W&LE's Akron Yard near Brittain Road on the eastern end of the city.


title: Akron, Ohio

text: From 1891 to 1971 passenger service to points throughout the Midwest, as well as Washington and New York City, was provided at Akron Union Station. The last legacy passenger trains were the Erie Lackawanna's "Lake Cities" (ended, 1970) and the B&O's "Shenandoah" (ended, 1971). There is currently no passenger rail transportation with the elimination of Amtrak's former "Three Rivers" service in 2005. The nearest Amtrak service is in Alliance, Ohio or Cleveland.


title: Akron, Ohio

text: Public transportation is available through the METRO Regional Transit Authority system, whose fleet of over 200 buses and trolleys operates local routes and commuter buses into downtown Cleveland. Stark Area Regional Transit Authority (SARTA) also has a bus line running between Canton and Akron and the Portage Area Regional Transportation Authority (PARTA) runs an express route connecting the University of Akron with Kent State University.


title: Akron, Ohio

text: Metro RTA operates out of the Robert K. Pfaff Transit Center on South Broadway Street. This facility, which opened in 2009, also houses inter-city bus transportation available through Greyhound Lines.


title: Akron, Ohio

text: Akron is served by two major interstate highways that bisect the city. Unlike other cities, the bisection does not occur in the Central Business District, nor do the interstates serve downtown; rather, the Akron Innerbelt and to a lesser extent Ohio State Route 8 serve these functions.


title: Akron, Ohio

text: Akron has produced and been home to a number of notable individuals in varying fields. Its natives and residents are called "Akronites". The first postmaster of the Connecticut Western Reserve and president of its bank, General Simon Perkins (1771-1844), co-founded Akron in 1825. His son, Colonel Simon Perkins (1805-1877), while living in Akron during the same time as abolitionist John Brown (1800-1859), went into business with Brown. Wendell Willkie, the Republican nominee for president in 1940, worked in Akron as a lawyer for Firestone. Pioneering televangelist Rex Humbard rose to prominence in Akron. Beacon Journal publisher John S. Knight ran the national Knight Newspapers chain from Akron. Broadcaster Hugh Downs was born in Akron. In the mid- to late 1940s, pioneering rock 'n' roll DJ Alan Freed was musical director at Akron's WAKR. Watergate figure John Dean was born in Akron.


title: Akron, Ohio

text: Noted athletes to have come from Akron include multi-time National Basketball Association Champions and MVPs LeBron James, and Stephen Curry, Basketball Hall of Famers Gus "Honeycomb" Johnson and Nate "The Great" Thurmond, Major League Baseball player Thurman Munson, International Boxing Hall of Famer Gorilla Jones, WBA Heavyweight Boxing Champion Michael Dokes, Houston Texans linebacker Whitney Mercilus, former Northwestern University and Notre Dame coach Ara Parseghian, and Butch Reynolds, former world record holder in the 400 meter dash. Former NFL linebacker James Harrison was born in Akron, as was current Tennessee Titans head coach, Mike Vrabel. Clayton Murphy, professional middle-distance runner and 2016 Olympic Games bronze medalist, competed in cross country and track & field for the Akron Zips.


title: Akron, Ohio

text: Performing artists to come from Akron include bands such as Ruby and the Romantics; Devo; The Black Keys; The Cramps, whose lead singer, Lux Interior, was a native of the town; rapper Ampichino; The Waitresses; and 1964 the Tribute; singers Vaughn Monroe; Chrissie Hynde, lead singer and main composer with British New Wave band The Pretenders; James Ingram; Joseph Arthur; Jani Lane; Rachel Sweet; and outlaw country singer David Allan Coe; Actors Frank Dicopoulos, David McLean, Melina Kanakaredes, Elizabeth Franz, William Boyett, Lola Albright, and Jesse White. Clark Gable and John Lithgow also lived in Akron.


title: Akron, Ohio

text: Poet Rita Dove was born and grew up in Akron. She went on to become the first African-American United States Poet Laureate. Many of her poems are about or take place in Akron, foremost among them Thomas and Beulah, which earned her the 1987 Pulitzer Prize for poetry.


title: Akron, Ohio

text: Owner of over 400 patents, native Stanford R. Ovshinsky invented the widely used nickel-metal hydride battery. Richard Smalley, winner of a Nobel Prize in Chemistry for discovering buckminsterfullerene (buckyballs) was born in the city during 1943. Another native, the second U.S. female astronaut in space, Judith Resnik, died in the 1986 Space Shuttle "Challenger" disaster and has the Resnik Moon crater named in her honor.


title: Akron, Ohio

text: The Silver Screen, which came to symbolize Hollywood's movie entertainment industry, was invented by Kenmore resident and projectionist Harry Coulter Williams. First used in Akron's Majestic Theater and then Norka Theater, the "Williams Perlite" tear-proof, vinyl plastic indoor motion picture screen was installed in all the major movie houses, including the rapidly expanding theaters built by Warner Bros. of nearby Youngstown OH. Williams' unique silver-painted screens were adapted for CinemaScope, VistaVision, and later 3-D movies. They provided a brighter picture at all angles with top reflectivity at direct viewing and extra diffusion for side seats and balconies.


title: Akron, Ohio

text: Carol Folt, the 11th chancellor and 29th chief executive, of the University of North Carolina at Chapel Hill was born in Akron in 1951. She was previously provost (chief academic officer) and interim president of Dartmouth College. She assumed her duties on July 1, 2013, and is the first woman to lead UNC.


title: Akron, Ohio

text: Rabbi Mendy Sasonkin and his wife Kaila, as emissaries of the Lubavitcher Rebbe, founded Chabad of Akron/Canton in 1989. In 1995 Rabbi Sasonkin became the rabbi of Anshe Sfard Congregation.


title: Akron, Ohio

text: In "Needful Things", a 1991 novel by Stephen King, the character of Leland Gaunt is from Akron. Also, in the musical comedy Glee, Vocal Adrenaline, the New Directions rivals, are from the fictional Carmel High School in Akron. In the 2007 dystopian novel "Unwind" (and its sequels), by Neal Shusterman, one of the main characters, Connor Lassiter, is dubbed the "Akron AWOL" after the city becomes the scene of his notorious escape from the Juvey-cops. An antique store in Akron also plays a key part in the Unwind series.


title: Akron, Ohio

text: "Thomas and Beulah", a 1986 book of poetry written by native and former Poet Laureate Consultant in Poetry to the Library of Congress, Rita Dove, tells the story of her grandmother and grandfather, who separately moved from the South to the city, where they lived through the Great Depression and the rest of their lives. The city is also the setting for the 2005 novel "The Coast of Akron", by former editor of "Esquire", Adrienne Miller. To reflect Akron's decline during the 1980s, Akron native Chrissie Hynde wrote the 1982 Pretenders song "My City Was Gone". The Black Keys 2004 album title "Rubber Factory" refers to the former Goodrich Corporation rubber factory in which it was recorded. Akron serves as a setting in the 2002 first-person-shooter PC platform video game "".


title: Bombay Stock Exchange

text: BSE Limited, also known as the Bombay Stock Exchange (BSE), is an Indian stock exchange and is the leading stock exchange.In 2017 BSE become the 1st listed stock exchange of India. It is located on Dalal Street in Mumbai. Established in 1875 by cotton merchant Premchand Roychand, a Jain businessman, it is the oldest stock exchange in Asia, and also the tenth oldest in the world. The BSE is the 8th largest stock exchange with an overall market capitalisation in the world with more than ₹276.713 lakh crore, as of January 2022.


title: Bombay Stock Exchange

text: Unlike countries like the United States where nearly 70% of the country's GDP is derived from large companies in the corporate sector like Apple and Tesla, the corporate sector in India accounts for only 12–14% of the national GDP (as of October 2016). Of these only 7,400 companies are listed of which only 4000 trade on the stock exchanges at BSE and NSE. Hence the stocks trading at the BSE and NSE account for only around 4% of the Indian economy, which derives most of its income-related activity from the unorganized sector and household spending.


title: Bombay Stock Exchange

text: "The Economic Times" estimates that as of April 2018, 6 crore (60 million) retail investors had invested their savings in stocks in India, either through direct purchases of equities or through mutual funds. Earlier, the Bimal Jalan Committee report estimated that barely 1.3% of India's population invested in the stock market, as compared to 27% in the United States and 10% in China.


title: Bombay Stock Exchange

text: Bombay Stock Exchange was started by Premchand Roychand in 1875. While BSE Limited is now synonymous with Dalal Street, it was not always so. In the 1850s, five stock brokers gathered together under a Banyan tree in front of Mumbai Town Hall, where Horniman Circle is now situated. A decade later, the brokers moved their location to another leafy setting, this time under banyan trees at the junction of Meadows Street and what was then called Esplanade Road, now Mahatma Gandhi Road. With a rapid increase in the number of brokers, they had to shift places repeatedly. At last, in 1874, the brokers found a permanent location, the one that they could call their own. The brokers group became an official organization known as "The Native Share & Stock Brokers Association" in 1875.


title: Bombay Stock Exchange

text: The Bombay Stock Exchange continued to operate out of a building near the Town Hall until 1928. The present site near Horniman Circle was acquired by the exchange in 1928, and a building was constructed and occupied in 1930. The street on which the site is located came to be called "Dalal Street" in Hindi (meaning "Broker Street") due to the location of the exchange.


title: Bombay Stock Exchange

text: On 31 August 1957, the BSE became the first stock exchange to be recognized by the Indian Government under the Securities Contracts Regulation Act. Construction of the present building, the Phiroze Jeejeebhoy Towers at Dalal Street, Fort area, began in the late 1970s and was completed and occupied by the BSE in 1980. Initially named the "BSE Towers", the name of the building was changed soon after occupation, in memory of Sir Phiroze Jamshedji Jeejeebhoy, chairman of the BSE since 1966, following his death.


title: Bombay Stock Exchange

text: In 1986, the BSE developed the S&P BSE SENSEX index, giving the BSE a means to measure the overall performance of the exchange. In 2000, the BSE used this index to open its derivatives market, trading S&P BSE SENSEX futures contracts. The development of S&P BSE SENSEX options along with equity derivatives followed in 2001 and 2002, expanding the BSE's trading platform.


title: Bombay Stock Exchange

text: On 12 March 1993, a car bomb exploded in the basement of the building during the 1993 Bombay bombings.


title: Bombay Stock Exchange

text: Historically an open outcry floor trading exchange, the Bombay Stock Exchange switched to an electronic trading system developed by Cmc ltd. in 1995. It took the exchange only 50 days to make this transition. This automated, screen-based trading platform called BSE On-Line Trading (BOLT) had a capacity of 8 million orders per day.


title: Bombay Stock Exchange

text: The BSE is also a Partner Exchange of the United Nations Sustainable Stock Exchange initiative, joining in September 2012.


title: Bombay Stock Exchange

text: BSE established India INX on 30 December 2016. India INX is the first international exchange of India.


title: Bombay Stock Exchange

text: BSE became the first stock exchange in the country to launch commodity derivatives contract in gold and silver in October 2018.


title: Bombay Stock Exchange

text: BSE was demutualized and corporatized on 19 May 2007, pursuant to the "BSE (Corporatization and Demutualization) Scheme, 2005" notified by SEBI.


title: Zbigniew Brzezinski

text: Zbigniew Kazimierz Brzeziński ( , ; March 28, 1928 – May 26, 2017), or Zbig, was a Polish-American diplomat and political scientist. He served as a counselor to President Lyndon B. Johnson from 1966 to 1968 and was President Jimmy Carter's National Security Advisor from 1977 to 1981. As a scholar, Brzezinski belonged to the realist school of international relations, standing in the geopolitical tradition of Halford Mackinder and Nicholas J. Spykman, while elements of liberal idealism have also been identified in his outlook. Brzezinski was the primary organizer of The Trilateral Commission.


title: Zbigniew Brzezinski

text: Major foreign policy events during his time in office included the normalization of relations with the People's Republic of China (and the severing of ties with the Republic of China on Taiwan); the signing of the second Strategic Arms Limitation Treaty (SALT II) with the Soviet Union; the brokering of the Camp David Accords between Egypt and Israel; the overthrow of the US-friendly Mohammad Reza Pahlavi and the start of the Iranian Revolution; the United States' encouragement of dissidents in Eastern Europe and championing of human rights in order to undermine the influence of the Soviet Union; supporting the Afghan mujahideen against the Soviet-backed Democratic Republic of Afghanistan and, ultimately, Soviet occupation troops during the Soviet–Afghan War; and the signing of the Torrijos–Carter Treaties relinquishing U.S. control of the Panama Canal after 1999.


title: Zbigniew Brzezinski

text: Brzezinski's personal views have been described as "progressive", "international", political liberal, and "strong anti-communist". He was an advocate for anti-Soviet containment, for human rights organizations, and for "cultivating a strong West". He has been praised for his ability to see "the big picture". Critics described him as hawkish or "foreign policy hardliner" on some issues such as Poland–Russia relations.


title: Zbigniew Brzezinski

text: Brzezinski served as the Robert E. Osgood Professor of American Foreign Policy at Johns Hopkins University's School of Advanced International Studies, a scholar at the Center for Strategic and International Studies, and a member of various boards and councils. He appeared frequently as an expert on the PBS program "The NewsHour with Jim Lehrer", ABC News' "This Week with Christiane Amanpour", and on MSNBC's "Morning Joe", where his daughter, Mika Brzezinski, is co-anchor. He was a supporter of the Prague Process. His eldest son, Ian, is a foreign policy expert, and his youngest son, Mark, is the current United States Ambassador to Poland and previously served as the United States Ambassador to Sweden from 2011 to 2015.


title: Zbigniew Brzezinski

text: Zbigniew Brzezinski was born in Warsaw, Poland, on March 28, 1928 into an aristocratic Roman Catholic family originally from Brzeżany, Tarnopol Voivodeship (then part of Poland, currently in Ukraine). The town of Brzeżany is thought to be the source of the family name. Brzezinski's parents were Leonia ("née" Roman) Brzezińska and Tadeusz Brzeziński, a Polish diplomat who was posted to Germany from 1931 to 1935; Zbigniew Brzezinski thus spent some of his earliest years witnessing the rise of the Nazis. From 1936 to 1938, Tadeusz Brzeziński was posted to the Soviet Union during Joseph Stalin's Great Purge, and was later praised by Israel for his work helping Jews escape from the Nazis.


title: Zbigniew Brzezinski

text: In 1938, Tadeusz Brzeziński was posted to Montreal as a consul general. The Brzezinski family lived proximate to the Polish Consulate-General, on Stanley Street. In 1939, the Molotov–Ribbentrop Pact was agreed to by Nazi Germany and the Soviet Union; subsequently the two powers invaded Poland. The 1945 Yalta Conference among the Allies allotted Poland to the Soviet sphere of influence. The Second World War had a profound effect on Brzezinski, who stated in an interview: "The extraordinary violence that was perpetrated against Poland did affect my perception of the world, and made me much more sensitive to the fact that a great deal of world politics is a fundamental struggle."


title: Zbigniew Brzezinski

text: After attending Loyola College in Montreal, Brzezinski entered McGill University in 1945 to obtain both his Bachelor and Master of Arts degrees (received in 1949 and 1950 respectively). His Master's thesis focused on the various nationalities within the Soviet Union. Brzezinski's plan for pursuing further studies in the United Kingdom in preparation for a diplomatic career in Canada fell through, principally because he was ruled ineligible for a scholarship he had won that was only open to British subjects. Brzezinski then attended Harvard University to work on a doctorate with Merle Fainsod, focusing on the Soviet Union and the relationship between the October Revolution, Vladimir Lenin's state, and the actions of Joseph Stalin. He received his Ph.D. in 1953; the same year, he traveled to Munich and met Jan Nowak-Jezioranski, head of the Polish desk of Radio Free Europe. He later collaborated with Carl J. Friedrich to develop the concept of totalitarianism as a way to more accurately and powerfully characterize and criticize the Soviets in 1956.


title: Zbigniew Brzezinski

text: Brzezinski was on the faculty of Harvard University from 1953 to 1960, and of Columbia University from 1960 to 1972 where he headed the Institute on Communist Affairs. He was Senior Research Professor of International Relations at the Paul H. Nitze School of Advanced International Studies at Johns Hopkins University in Washington, D.C.


title: Zbigniew Brzezinski

text: As a Harvard professor, he argued against Dwight Eisenhower's and John Foster Dulles's policy of rollback, saying that antagonism would push Eastern Europe further toward the Soviets. The Polish protests followed by the Polish October and the Hungarian Revolution in 1956 lent some support to Brzezinski's idea that the Eastern Europeans could gradually counter Soviet domination. In 1957, he visited Poland for the first time since he left as a child, and his visit reaffirmed his judgement that splits within the Eastern bloc were profound. He developed his ideas he called "peaceful engagement." Brzezinski became a naturalized American citizen in 1958.


title: Zbigniew Brzezinski

text: In 1959, Harvard awarded an associate professorship to Henry Kissinger instead of Brzezinski. He then moved to New York City to teach at Columbia University. Here he wrote "Soviet Bloc: Unity and Conflict", which focused on Eastern Europe since the beginning of the Cold War. He also taught future Secretary of State Madeleine Albright, who, like Brzezinski's widow Emily, was of Czech descent, and whom he also mentored during her early years in Washington. He also became a member of the Council on Foreign Relations in New York and joined the Bilderberg Group.


title: Zbigniew Brzezinski

text: During the 1960 U.S. presidential elections, Brzezinski was an advisor to the John F. Kennedy campaign, urging a non-antagonistic policy toward Eastern European governments. Seeing the Soviet Union as having entered a period of stagnation, both economic and political, Brzezinski predicted a future breakup of the Soviet Union along lines of nationality (expanding on his master's thesis).


title: Zbigniew Brzezinski

text: As a scholar, he developed his thoughts over the years, fashioning fundamental theories on international relations and geostrategy. During the 1950s he worked on the theory of totalitarianism. His thought in the 1960s focused on wider Western understanding of disunity in the Soviet Bloc, as well as developing the thesis of intensified degeneration of the Soviet Union. During the 1970s he proposed that the Soviet system was incapable of evolving beyond the industrial phase into the "technetronic" age.


title: Zbigniew Brzezinski

text: Brzezinski continued to argue for and support détente for the next few years, publishing "Peaceful Engagement in Eastern Europe" in "Foreign Affairs", and he continued to support non-antagonistic policies after the Cuban Missile Crisis on the grounds that such policies might disabuse Eastern European nations of their fear of an aggressive Germany, and pacify Western Europeans fearful of a superpower compromise along the lines of the Yalta Conference. In a 1962 book Brzezinski argued against the possibility of a Sino-Soviet split, saying their alignment was "not splitting and is not likely to split."