government

Government vows to continue Amalthea initiative following deadly attack

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Government vows to continue Amalthea initiative following deadly attack

The attack on members of the NGO World Central Kitchen has led to the suspension of the humanitarian aid delivery program to Gaza. Despite this setback, the government is determined to keep the initiative alive. President Christodoulides emphasized the importance of continuing to send aid to Gaza, calling for more efforts to assist the civilian population. The President also stressed the need for the EU to take action in the region. Metsola praised Cyprus’s leadership in the “Amalthea” initiative and highlighted the importance of protecting those providing humanitarian aid.

Taiwan hit by strongest quake in 25 years, four deaths reported

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Taiwan hit by strongest quake in 25 years, four deaths reported

Fact: A 7.2 magnitude earthquake hit Taiwan, killing four people, injuring dozens, and causing a tsunami warning for southern Japan and the Philippines.

Minister sets sights on boosting agriculture, ’s share in Cypriot GDP

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Minister sets sights on boosting agriculture, ’s share in Cypriot GDP

Fact: Agriculture Minister Maria Panayiotou stated that the ministry’s goal is to increase the sector’s contribution to the country’s GDP, enhance sustainability, and promote Cypriot products in new markets.

Why Big Corporations Get Special Tax Breaks and You Don’t, by Jim Hightower

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Why Big Corporations Get Special Tax Breaks and You Don't, by Jim Hightower

– Free market ideologues justify corporate greed over public need by fabricating stories about how tax windfalls will be invested for the common good, but in reality, the money is simply pocketed by corporate executives.
– The Institute for Policy Studies analyzed financial data of 35 profitable corporations, including Tesla, T-Mobile, and Duke Energy, and found that they paid zero in federal taxes and received nearly billion in refunds over a four-year period.
– Asbestos, a cancer-causing product banned in over 50 countries, continues to be used in the U.S., causing the deaths of thousands of Americans each year, especially firefighters. Despite efforts to ban it, the EPA under Trump did nothing, but under Biden, a ban is set to take effect in twelve years due to industry lobbying.
– Political hucksters who push to eliminate regulations may be putting corporate profits over public safety, as seen in the case of asbestos. Trump has promised to eliminate regulations if elected again, raising concerns about who will benefit from such actions.

Our View: Government must listen to reason over relief measures

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Our View: Government must listen to reason over relief measures

The IMF was critical of the government’s decision to extend ‘horizontal’ support measures, such as zero VAT and electricity bill subsidies, despite advising against it. The IMF expressed concerns that these measures could negatively affect public finances and undermine efforts to control inflation. The IMF also recommended avoiding indexing adjustments of wages, particularly in the public sector, to reflect macroeconomic developments and productivity increases.

Doubts raised over development of Larnaca port

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Doubts raised over development of Larnaca port

The company assigned to expand and restore Larnaca port, Kition Ocean Holdings, has not started any of the works on the €1.2 billion project two years after being assigned. Transport Minister Alexis Vafeades expressed strong concern about the lack of progress and warned that if the company does not honor its contractual obligations, actions will be taken accordingly. The latest information suggests that work on the project may start in May or June.

Situation in Gaza , ‘desperate’, as WCK suspends relief

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Situation in Gaza , ‘desperate’, as WCK suspends relief

World Central Kitchen suspended its operations in Gaza after seven of its aid workers were killed in an IDF strike. President Nikos Christodoulides stated that the maritime aid corridor will remain open despite the suspension.

Corporate profit bonanza

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Corporate profit bonanza

After-tax corporate profits reached an all-time high of .8 trillion in the last three months of 2023.

Centre met revised tax collection targets for fiscal 2024: Government Official

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Centre met revised tax collection targets for fiscal 2024: Government Official

The Centre has met its tax collection target of over Rs 34.37 lakh crore for 2023-24, with net direct tax collections reaching over Rs 18.90 lakh crore as of March 17. Gross GST collection in March 2024 was the second-highest ever at Rs 1.78 lakh crore, with a year-on-year growth of 11.5 percent. Total gross collection for FY24 stood at Rs 20.18 lakh crore, surpassing the revised budget estimate.

Audit service defends looking into all government spending

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Audit service defends looking into all government spending

The audit service’s job is to monitor all government spending, including the defense ministry and national guard. The audit service found that the mislabeling and inappropriate storage of weapons in national guard camps, which had been previously ignored, led to the devastating explosion in Mari in 2011.