Energy, Commerce and Industry Minister George Papanastasiou and Japan’s Parliamentary Vice-Minister for Economy Taku Ishii expressed the joint wish to renew discussions on strengthening economic and business ties between Cyprus and Japan.
JPMorgan Chase’s profit rose 6% in the first quarter, but its shares dropped due to the bank’s forecast for its income from interest payments coming in below analysts’ expectations.
Fact: Foreign Minister Constantinos Kombos expressed concern about a possible Iranian attack on Israel and the consequences it would have for Cyprus.
The federal budget recently passed has a trillion deficit, which is the same amount as the entire federal national debt 30 years ago.
Chrystia Freeland is likely to raise taxes on the country’s largest companies and wealthiest citizens in the upcoming budget to increase government revenues and pay for new programs.
President Nikos Christodoulides will chair a meeting with stakeholders to push ahead with the stalled €1.2 billion Larnaca port and marina project. The bone of contention is the renewal of a €10 million guarantee by Kition, with the company stating they have no intention to renew it without amending the concession agreement. Transport Minister Alexis Vafeades has called on Kition to renew the guarantee, warning of potential damages to the state if not done. An ad hoc committee has been set up to help break the deadlock, while the Cyprus Chamber of Commerce president criticized the company for not being clear about their intentions. Another issue is the preservation of the historical pier in Larnaca, which is part of the town’s heritage and is being restored as part of the wider development plan for the port and marina.
Seven infants died in four days from a bacterial infection at Trinidad’s Port of Spain General Hospital. The outbreak occurred in the neonatal intensive care unit and the children who died were premature babies. The bacteria found in the ward were Serratia marcescens, ESBL Klebsiella pneumoniae, and Klebsiella aerogenes. Despite administering high-dose antibiotics and intensive care support, some of the babies did not survive. The ward has been treated with chemicals to kill the bacteria, and there have been no new deaths since April 7th. The Trinidad government has asked the Pan American Health Organization to assist in the investigation.
Mexican health officials are concerned about the presence of Xylazine, an animal tranquilizer, in opioids in cities on the country’s northwest border with the United States. Xylazine, known as “tranq dope” or “zombie drug,” has worsened the opioid crisis in U.S. cities like Philadelphia. The sedative Xylazine can make opioid overdose reversal treatments less effective and raise the risk of fatal drug poisoning, as well as cause severe skin abscesses. The study, funded by Mexico’s National Council for Science and Technology, tested drug residues in Tijuana and Mexicali, identifying Xylazine as an adulterant in heroin and fentanyl. The consumption of fentanyl is also spreading within Mexico’s borders.
The major projects in the Larnaca port and marina, part of a €1.2 billion investment, are facing delays with the company breaching terms of the agreement. The agreed timeline for the first phase includes various construction works in the port, marina, infrastructure, and real estate development. The company requested an extension to start construction in June 2024, but failed to renew a guarantee and requested changes in project order. A court order has temporarily prohibited the state from collecting money from other guarantees, with a hearing scheduled for April 15. The President of the Republic will meet with company officials to find a solution, as the future of the investment hangs in the balance.
President Christodoulides convened an emergency meeting of the National Security Council (NSC) to discuss the potential implications of a new flare-up in the Middle East region, particularly between Iran and Israel. The meeting focused on preventive measures, including security at airports and ports, in case of increased flows of Syrian refugees and potential threats to Cyprus. The Government clarified that the meeting was not out of concern but to evaluate data and exchange opinions on the situation. There is no differentiation in security measures, and the Government’s main goal is to prevent escalation in the region. President Christodoulides’ invitation to European Commission President Ursula von der Leyen to visit Lebanon is still under discussion.