US

Navalny to be buried on Friday

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Navalny to be buried on Friday

Russian opposition politician Alexei Navalny’s funeral service and burial are scheduled to take place in Moscow on Friday, as announced by his spokesperson, Kira Yarmysh. The service will be held at 1400 Moscow time (1100 GMT) in the Church of the Icon of the Mother of God in the Moscow district of Maryino, where Navalny used to live. Navalny will then be buried at the Borisovskoye cemetery, located on the other side of the Moskva River to the south. Navalny died at an Arctic penal colony on Feb. 16. His death certificate stated he died of natural causes.

The myth of timeless design

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The myth of timeless design

The text discusses the concept of timeless design, suggesting that what is considered timeless is subject to change due to evolving tastes and cultural influences. The author reflects on personal experiences with design trends, noting how preferences for things like open-plan living and wall colors have shifted over time. The exploration of design principles across different cultures, including in places like Cyprus, reveals that timelessness is not a universal concept but varies with cultural identity and tradition. The text also highlights the growing importance of sustainability in design, with eco-friendly and modular furniture becoming essential for their environmental benefits. The overall message is that design is dynamic and should embrace change, sustainability, and diversity.

Gov pledges , ‘tough oversight’ on services sector after sanctions

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Gov pledges , ‘tough oversight’ on services sector after sanctions

The Cabinet of Cyprus approved the establishment of an oversight body for service-sector companies to prevent actions that could harm the country’s reputation. This body will conduct snap reviews if there are indications of practices negatively affecting Cyprus’ reputation and will be led by the Cyprus Securities and Exchange Commission (CySEC), in collaboration with the Bar Association and the Accountants Association (Selk). Finance Minister Makis Keravnos stated that the body could investigate announcements of sanctions violations and would impose fines, reprimands, and other measures as necessary. The oversight will include pre-emptive inspections, and there will be legal regulation over this area. Additionally, the qualifications of service providers will be determined, and a cap on the number of companies they can serve will be set. However, the Bar Association, represented by chairman Michalis Vorkas, expressed opposition to the requirement for lawyers to share confidential data with other bodies, emphasizing concerns about client confidentiality. The matter will be presented to parliament for further discussion. Lastly, recent sanctions by the US, UK, and Canada involved three companies based in Limassol and an individual with dual Cypriot and Russian citizenship.

Major Gulf markets mixed with inflation in focus

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Major Gulf markets mixed with inflation in focus

Major stock markets in the Gulf showed a mixed trend in early trading on Tuesday, with investors focusing on upcoming inflation data from major economies and manufacturing figures from China. The US personal consumption expenditures price index, used by the Federal Reserve to track its 2% inflation target, is particularly anticipated. Futures indicate a shift in expectations for the timing of monetary easing and the number of rate cuts. Most Gulf currencies are pegged to the dollar, making them sensitive to US monetary policy changes. Saudi Arabia’s benchmark index rose by 0.3%, with significant gains in ACWA Power Co and Al Rajhi Bank. Avalon Pharma’s shares surged by 30% on their market debut. Abu Dhabi’s index fell by 0.4%, while Dubai’s main share index increased by 0.5%, led by a rise in Emirates NBD. The Qatari benchmark declined by 0.2%, affected by a drop in Qatar Gas Transport. Additionally, US President Joe Biden announced that Israel agreed to halt its military activities in Gaza for Ramadan, with Hamas considering a truce proposal that includes a pause in fighting and a prisoner-hostage exchange.

Gaza residents fear possible truce would only pause, not stop, the war

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Gaza residents fear possible truce would only pause, not stop, the war

Homeless and hungry Palestinians in Gaza are desperate for a lasting ceasefire amid fears of an Israeli assault on their safe haven. The United States mentioned that a temporary truce could be agreed upon soon, with a proposed deal potentially stopping the fighting since a brief truce in November. Negotiators are discussing a six-week truce, but Hamas has expressed that significant differences remain, demanding a permanent end to the fighting. Nearly five months into Israel’s air and ground campaign, about 85% of Gaza’s 2.3 million residents have fled their homes, with most houses damaged or destroyed, leading to famine and widespread disease. The war began with a Hamas attack on Israel on October 7, killing around 1,200 people and taking 253 hostages. Israel’s campaign in response has killed approximately 30,000 Palestinians, according to health authorities in the Hamas-run enclave. Conditions for the proposed truce include only a short pause in fighting, with no provisions for displaced residents, especially men of military age, to return to their homes in the north. Despite these limitations, many in Gaza welcome any cessation of hostilities, even if temporary.

Bitcoin tops $57,000 as big buyers circle

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Bitcoin tops $57,000 as big buyers circle

Bitcoin reached a two-year high due to signs of significant buying activity, with its price hitting ,036. Ether surpassed ,200 for the first time since 2022, reaching up to ,275. MicroStrategy disclosed a purchase of about 3,000 bitcoins for 5 million, contributing to the rally. The approval of bitcoin-owning exchange-traded funds (ETFs) in the United States and increased trading volumes in these funds also supported the price increase. Bitcoin has seen a 32% increase in value in February, aiming for its largest one-month gain since January 2023. The upcoming bitcoin halving event in April, which reduces the reward for mining new bitcoins, is also influencing the market. Reddit announced an investment in bitcoin, ether, and matic for virtual goods sales. Ether’s price has risen by 41% this month, with anticipation growing for the regulatory approval of spot ether ETFs.

Cyprus Cricket announces sponsorship deals

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Cyprus Cricket announces sponsorship deals

BAO Financial Group has renewed its sponsorship with Cyprus Cricket, continuing its support for cricketing activities in Cyprus. The group is committed to the development of cricket in the country, fostering growth, nurturing talent, and promoting a cricket community. Cyprus Cricket also announced new sponsorship deals with HurryCurry Restaurant and Chart World. The Cyprus Men’s team will participate in ICC World T20 qualifiers in Guernsey and host T20I games against Estonia in June. HurryCurry Restaurant aims to support the growth of cricket in Cyprus, while ChartWorld focuses on sponsoring youth cricket. The new cricket season starts in the first week of March, with significant investment in training for umpires and coaches, resulting in 10 coaching certifications and 9 umpiring qualifications achieved under ICC Master Tutor Jasmine Naeem in February.

Eurozone bonds dance to the beat of US markets

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Eurozone bonds dance to the beat of US markets

Eurozone bonds are trading in sync with US bonds, with correlations between the markets reaching a record high. The 52-week correlation between German and US two-year bond yields has hit a record, with longer bonds also showing high correlations. The US economy has grown more than Europe’s, with US GDP rising 2.5% and Eurozone GDP growing 0.5% in 2023. Inflation, which surged in both regions in 2021, has become a key focus for markets. The Federal Reserve raised rates in March 2022, followed by the European Central Bank in July. Inflation peaked at 9.1% in the US in June 2022 and at 10.6% in the eurozone before falling to around 3% in both regions. The US bond market, with .9 trillion of government securities outstanding, influences global borrowing costs. Investors expect the correlation between Eurozone and US bonds to decrease as macro and policy outcomes diverge. The European Central Bank is anticipated to cut interest rates in April, ahead of the Federal Reserve in June.

The Heritage Private School

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The Heritage Private School

The Heritage Private School and Institute is located along the Limassol to Troodos road in Cyprus, offering views of the mountains and sea. It serves over 1,500 students aged 2 to 19 from diverse cultural backgrounds. The school is approved by the Cyprus Ministry of Education and is academically selective, aiming to provide a high-quality education comparable to reputable UK private schools. Instruction is in English, following the Cambridge International Primary Programme and the National Curriculum for England. Students can earn qualifications such as Cambridge International Checkpoints, IGCSEs, A Levels, and a formal School Leaving Certificate (Apolytirion) at the end of Year 13. The Heritage is a Cambridge International Fellowship Centre and a center for Cambridge and Pearson Edexcel International Examinations, as well as ICDL. Most students advance to universities in the UK, Europe, the USA, and other parts of the world, including prestigious institutions like the University of Cambridge, Imperial College London, MIT, Berklee College of Music, Johns Hopkins University, and Sciences Po.

The school incorporates technology into the curriculum, including an iPad 1-1 program, and collaborates with Engino® in the Early Years and Primary School to integrate STEM principles and develop robotics and computer programming skills. Outdoor learning is emphasized, especially in the School Forest. The Secondary School offers a Gifted and Talented Programme for identifying and nurturing gifted students.

The school’s ethos focuses on academic excellence, personal and social development, respect, collaboration, and self-discipline. It has a well-qualified staff, a School Counsellor, and a Special Education Needs Coordinator to support student mental health and learning. Over 100 after-school clubs and academic Institute classes are available, along with sports teams, drama and music classes, a school choir, and an orchestra. The school participates in various EU educational and community projects, Model United Nations Conferences, and offers the Duke of Edinburgh’s International Award Scheme.

The Heritage Private School holds the British Council International School Award (ISA) since 2008, is the only APSnet UNESCO certified private school in Cyprus, and one of two PASCH accredited schools in the country. It has received 11 Cyprus Education Leaders Awards, eleven CY GPP environmental awards, and several Cambridge International and Pearson Edexcel Outstanding Learner Awards. The Executive Head was a member of the Cambridge International Education Advisory Board.

Three Cyprus-registered companies and one person in fresh anti-Russia sanctions list

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Three Cyprus-registered companies and one person in fresh anti-Russia sanctions list

– Cyprus is affected by the latest wave of sanctions imposed by the United States, United Kingdom, and Canada against Russia.
– Three shipping companies registered in Cyprus and a holder of a Cypriot passport are included in the American and British sanctions.
– Canada has imposed restrictions on entities registered in Cyprus.
– The Office of Foreign Assets Control (OFAC) of the US Department of the Treasury announced sanctions against three Cypriot-registered companies: AZORIA SHIPPING COMPANY LIMITED, GLORINA SHIPPING COMPANY LIMITED, and ELIXON SHIPPING COMPANY LIMITED, all sharing the same administrative structure and linked to Vladimir Oskirko, with CYPROSERVUS CO. LIMITED as secretary.
– The UK’s Office of Financial Sanctions Implementation (OFSI) imposed sanctions on Yulia Andreevna Guryeva-Motlokhova, a Russian holding a Cypriot passport, for her association with Andrey Grigoryevich Guryev.
– Canada’s new sanctions target individuals and entities providing financial and accounting support to Russian entities, facilitating the circumvention of sanctions, and supporting Russia’s military operations in Ukraine, including companies registered in Cyprus.
– The European Union approved the 13th package of sanctions against Putin’s regime, targeting individuals and companies involved in the transfer of weapons from North Korea to Russia, the illegal deportation of children from Ukraine, and companies from third countries, including a Turkish company, believed to contribute to sanctions evasion. The EU imposed restrictive measures on an additional 106 individuals and 88 entities.