recovery

UAE corporate tax to bolster future economic sustainability: MoF

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UAE corporate tax to bolster future economic sustainability: MoF

– The UAE has introduced a federal corporate tax to strengthen its economic future.
– The tax policy aligns with international standards and aims to solidify the UAE’s position as a global financial center.
– Corporate tax rates are set at 0% for annual incomes up to AED375,000 and 9% beyond that threshold.
– The UAE is committed to sustainable development goals and has reformed tax policies to support economic growth and inclusivity.
– The UAE has joined the BEPS programme and supports global tax fairness initiatives.
– Regulatory decisions have been made to guide the implementation of the corporate tax law in the UAE.
– The Ministry of Finance is conducting public awareness sessions to ensure understanding of the new tax law.

82-year-old shooter likely , ‘to be pardoned’

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82-year-old shooter likely , ‘to be pardoned’

An 82-year-old man who was jailed for shooting a cable thief is expected to receive a presidential pardon. He had been sentenced to two and a half years behind bars for intending to cause serious bodily harm and using a firearm. The shooting took place in the Limassol village of Alassa, where the man fired a shot at the thief, hitting him in the back. The thief was hospitalized but later made a full recovery.

Audit Office calls for revised study on Pentakomo development to protect seals

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Audit Office calls for revised study on Pentakomo development to protect seals

The Audit Office has requested a revised site allocation study for proposed marine farm facilities in the Moni-Vassiliko area due to the area’s significance for the Mediterranean monk seal. Plans to develop aquaculture facilities in the environmentally sensitive area are facing scrutiny, with a project tender issued for €34 million. The Audit Office recommends updating the National Action Plan for Monk Seal Conservation and ensuring public access to relevant assessments. Delays in project implementation could risk losing funding. The Audit Office criticizes the lack of detail in alternative locations considered in a previous study and recommends a revised study to address the gap. The Department of Environment’s pre-screening report for the Environmental Impact Assessment is criticized for not adequately considering the importance of the area for the Mediterranean monk seal. The proposed project aims to serve seven of the nine existing marine aquaculture farms in Cyprus, providing necessary support infrastructure.

Heineken sells more beer in first quarter, sticks to outlook

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Heineken sells more beer in first quarter, sticks to outlook

Heineken sold more beer than expected in the first quarter, reporting its first year-on-year growth in quarterly volumes in a year.

Cyprus government and banks piling-up cash

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Cyprus government and banks piling-up cash

By end-February 2024, the government had accumulated cash deposits of over €3.5 billion at the Central Bank and €2.1 billion at commercial banks.

‘Cyprus is a reliable business centre’

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‘Cyprus is a reliable business centre’

– Cyprus is considered a reliable business center by Commerce Minister George Papanastasiou.
– The Eastern Mediterranean region can play a role in ensuring Europe’s energy security.
– The Great Sea Interconnector project aims to connect the electricity systems of Cyprus, Greece, and Israel to aid Europe in becoming independent of Russian gas.
– Greek Energy Minister Theodoros Skylakakis warned the Cypriot government about missing deadlines for the interconnector project.
– The Cypriot government is still in the phase of discussing conditions and waiting for Greece’s transmission system operator Admie to submit a cost-benefit analysis of the project.

Cyprus tourism , “cannot do without foreign labour”

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Cyprus tourism , “cannot do without foreign labour”

Deputy Minister of Tourism Kostas Koumis acknowledged that the Cypriot tourism sector is in need of foreign workers due to an increase in tourist arrivals, leading to labor shortages.

King Charles to resume public duties after cancer diagnosis

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King Charles to resume public duties after cancer diagnosis

– Britain’s King Charles will return to public duties next week after being diagnosed with cancer
– The 75-year-old king had been diagnosed with an unspecified form of cancer detected after a corrective procedure for an enlarged prostate
– His treatment program will continue, but doctors are pleased with his progress so far
– Charles and his wife Queen Camilla will visit a cancer treatment center in London next Tuesday
– His daughter-in-law Kate is undergoing preventative chemotherapy after tests revealed cancer had been present
– Charles’s plans will be crafted in consultation with his medical team to minimize risks to recovery
– Charles’s health scare came less than 18 months into his reign and less than a year since his coronation

Palace to issue health update on King Charles amid alleged funeral preparations

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Palace to issue health update on King Charles amid alleged funeral preparations

An imminent update on King Charles’ health is expected soon, with Buckingham Palace preparing for all eventualities, including funeral arrangements. The update could confirm the King’s recovery or detail plans for his return to official duties this summer. The King’s health is crucial for fulfilling his scheduled commitments during the packed royal calendar for the summer.

First Covid, now heat: online schooling returns to the Philippines

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First Covid, now heat: online schooling returns to the Philippines

Fact: Record heat in the Philippines this month has forced schools to send children home for online classes, reviving memories of Covid lockdowns and raising fears that more extreme weather in the years to come could deepen educational inequalities.