government

Apple’s Irish arm paid €6.5bn in corporate income tax last year

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Apple’s Irish arm paid €6.5bn in corporate income tax last year

Apple’s Irish-registered entity, Apple Operations International Limited, reported pre-tax profits of bn in 2023. The entity paid .871bn in tax, contributing to the total corporation tax collected by the Irish government. The company’s dividend paid jumped to bn in 2023. Apple appears to have exhausted deferred tax assets that helped lower its overall tax bills in recent years. The company no longer has any remaining intra group deferred tax assets.

Traffic fines: same penalties, longer payment period

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Traffic fines: same penalties, longer payment period

Fact: Out-of-court fines for traffic violations in Cyprus will largely remain the same, but offenders will have more time to pay them, with the deadline for payment increasing from 45 to 60 days.

Boat Race rowers told to avoid the water as UK sewage dumping surges

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Boat Race rowers told to avoid the water as UK sewage dumping surges

– Victorious rowers in Britain’s University Boat Race have been warned not to jump into the River Thames this weekend due to alarming levels of E. coli bacteria.
– Raw sewage was discharged for more than 3.6 million hours in 2023, more than double the previous year.
– The River Thames, which hosts the annual Boat Races between Oxford and Cambridge University students, has been affected by the sewage spills.
– Organizers have put precautionary measures in place to protect the health of athletes, including covering up open wounds, regular hand-washing, and a cleansing station at the finish area.
– British water companies have been accused of failing to invest in infrastructure, leading to routine dumping of sewage in waterways.
– The government has promised to clamp down on the dumping of sewage, which is only supposed to happen during exceptional rainfall to prevent it from backing up into homes.

Poland says breakthrough on Ukrainian grain unlikely in Warsaw talks

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Poland says breakthrough on Ukrainian grain unlikely in Warsaw talks

The governments of Poland and Ukraine met in Warsaw for talks to defuse a row over grain imports that caused mass protests by farmers.

Personnel costs and social benefits dominate Cyprus’s budget

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Personnel costs and social benefits dominate Cyprus’s budget

The main categories of state expenditures in the Republic of Cyprus for fiscal year 2023 include personnel wages, pensions, and bonuses, social benefits, and transfers. Social benefits also include the government’s contribution to the General Health Plan. The number of personnel has fluctuated over the years, with an increase in wage expenditures. Pensions and bonuses increased by 7% in 2023. The largest part of wage expenditures is for educators in the Ministry of Education, Culture, Sports, and Youth. Social benefits include medical care, emergency grants, emergency humanitarian incidents, and supplementary pension benefits. The total amount of loans as of December 31, 2023, stood at €22.18 billion. State financing is mainly done through European Medium-Term Notes and loans from the European Stability Mechanism. Approved expenditures for 2023 were €12 billion, with actual expenditures reaching €10.92 billion. Total revenues for 2023 were €9.94 billion, resulting in a state budget deficit of €0.98 billion.

Minister of agriculture highlights Cyprus’s vulnerability to climate change

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Minister of agriculture highlights Cyprus’s vulnerability to climate change

Cyprus is particularly vulnerable to the impacts of climate change, with rising temperatures, sea-level rise, and changes in weather patterns posing serious threats to the environment, economy, and society. The government is implementing measures to address climate change and improve resilience, including strengthening scientific research, developing national adaptation strategies, and raising public awareness. The Minister of Agriculture emphasized the importance of enhancing climate resilience of natural ecosystems, protecting biodiversity, and adopting sustainable water resource management practices. Community participation and empowerment are essential for the success of adaptation plans, with education and awareness being key pillars. The Minister highlighted the need for collective effort and determination to implement adaptation and mitigation measures for climate change to ensure sustainable and equitable development in the future.

Greek PM faces no-confidence vote over 2023 train crash

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Greek PM faces no-confidence vote over 2023 train crash

The government of Greek Prime Minister Kyriakos Mitsotakis faces a no-confidence vote over the handling of a train crash that killed 57 people. Media reports alleged manipulation of evidence in the investigation of the crash.

Scotland, ’s parliament considers assisted dying as poll shows support

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Scotland, ’s parliament considers assisted dying as poll shows support

Scotland’s parliament is considering legislation that would allow people with a terminal illness to take their own lives, joining countries like Switzerland, Canada, New Zealand, Austria, and Ecuador in allowing assisted dying. Individuals would need to self-administer the substance that will end their life if the legislation is passed.

Hellenic Bank: Progress vital for a competitive tourism industry

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Hellenic Bank: Progress vital for a competitive tourism industry

– The recent annual tourism conference organized by the Association of Cyprus Tourist Enterprises (Stek) with the support of Hellenic Bank focused on discussing the future of Cyprus’ tourism industry and the new model needed to bolster it.
– The conference theme was ‘Tourism: New Realities Demand a More Competitive Model’ and delved into topics such as the green transition, sustainability, and resilience in tourism.
– Phivos Stasopoulos, Chief Banking Officer of Hellenic Bank, emphasized the need for evolution in Cyprus’ tourism industry, stating that everything has changed and the situation has fundamentally changed in the tourism industry.
– Hellenic Bank’s loans to the tourism industry represent more than 10% of its total loan portfolio, and the bank is committed to providing effective products and tailored solutions to the industry’s needs.
– The conference attracted over 250 participants, including Deputy Minister of Tourism Kostas Koumis, ambassadors, government officials, business leaders, and professionals from the hotel and wider tourism sectors of Cyprus and Greece.
– Koumis highlighted the significance of tourism to the economies of Cyprus and Greece, noting that tourism contributed 12.8% to the GDP of Cyprus this year.

Electricity subsidy extended until end of June

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Electricity subsidy extended until end of June

The electricity subsidy is being extended until the end of June and will cover more than 400,000 households and 100,000 businesses.